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.

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;

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;

“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;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

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;

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;

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.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

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;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

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.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“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;

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.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

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;

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;

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”.

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;

Joel Robinson

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

<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.

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.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“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.”

<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" />

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.

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.

“We are DA approved now which is very exciting,” Sammut said.

“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.”

<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" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“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.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“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.”

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.

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.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

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.

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.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“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.”

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.

“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.”

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.

“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.”

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.

“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.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“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.

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.

&nbsp;

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

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.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

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.

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.

“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.

“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.”

<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" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“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.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<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" />

&nbsp;

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.

Green praised local policy settings.

“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.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

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

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.

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.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"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.

"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."

[smartcode_project:default project_id=134646 project_image_fid=6109]

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.

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.

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.

[smartcode_project:default project_id=134646 project_image_fid=6110]

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.

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.

[smartcode_project:default project_id=134646 project_image_fid=6116]

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.

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.

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.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Demographics

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The song at this stage of the residential property cycle would normally sound something like this:
"Higher prices and price growth, coupled with lower rental returns in both Sydney and Melbourne will see more people move interstate to cheaper and sunnier South East Queensland.”
Well, that doesn’t seem to be happening. The more optimistic would end this sentence, with a ‘yet’.  But I wonder. Yes, investors are crossing the Tweed and the current level investor interest from the southern states reminds me of the early 2000s, but unlike back then, net interstate migration to Queensland still remains low, close to an all-time low in fact.  See our first chart below.
Our second chart shows that Victoria – yes, that old rust bucket – attracts more interstate action than Queensland these days.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/NET-INTERSTATE-MIGRATION-1.jpg"><img class="alignnone size-full wp-image-7443" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/NET-INTERSTATE-MIGRATION-1.jpg" alt="NET INTERSTATE MIGRATION #1"></a>
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/07/NET-INTERSTATE-MIGRATION-2.jpg"><img class="alignnone size-full wp-image-7444" src="https://matusikmissive.com.au/wp-content/uploads/2014/07/NET-INTERSTATE-MIGRATION-2.jpg" alt="NET INTERSTATE MIGRATION #2"></a>
So why are fewer people moving to Queensland?
<ul>
<li>Jobs</li>
</ul>
Most people move interstate for work.  Sure, many might like Queensland’s climate better, especially during winter/spring, but their primary motivation is work. 
Queensland is creating new jobs, but these aren’t really big paying positions, nor are that many full-time. 
It is more than just post-mining influence at work here; the overall ‘casualisation of work’ trend is having an impact.
<ul>
<li>Ageing demographics</li>
</ul>
As people age, they move less and when they move, they don’t move as far as they did when they were younger.They like to stay in the same neighbourhood if they can.  
Yes, they like to be closer to the kids and especially the grandchildren, but given the low cost of air travel, plus the vitality of our older folk (my parents are almost always travelling), they don’t see themselves as ‘baby sitters’ these days.
<ul>
<li>Stamp duties</li>
</ul>
One of the biggest killers of housing movements is stamp duties.  This cost – determined as a percentage of the end price – stops many local moves and a lot of interstate movements as well.
It should be a flat fee; the same for all residential property transactions regardless of location and be say, $1,000 per sale, and not the exorbitant amount that is currently incurred.
If you want free up our larger, underutilised homes and get downsizers/retirees into something more practical for them, then stamp duties must be reduced and dramatically so. 
Otherwise, these two market segments (which are about to grow <a href="https://matusikmissive.com.au/2014/06/03/housings-future/">substantially</a> in size) will age in place; and we will struggle to house, affordably, our younger generations.
<ul>
<li>Perception</li>
</ul>
I don’t care how many times the media try to project Brisbane/South East Queensland as having lost its “red neck” and somehow acquired, magically, a sophisticated aura; most of my interstate friends and relatives don’t buy it, nor do I.  I think we need to really think through what we are and the image we want to convey.  We shouldn’t be competing with Sydney, Melbourne or Perth; we need to find our own voice.
For example, I was in Toowoomba last week giving a presentation for the Chamber of Commerce, where a short promotional video was played outlining why someone should consider living in the Darling Downs.  It wasn’t “resources” this or “infrastructure” that, it was a <a href="https://www.youtube.com/watch?v=pMQ9dPn7IA4&amp;feature=youtu.be" target="_blank">great clip</a> about a bushie and how he lived under a “big sky”.  It worked a treat – so much so that I nearly bought a Toowoomba house.
Anyway, for mine, Queensland needs to work on its image.  It seems lost if you ask me…and it is reducing the number of bums of seats.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
<a href="https://matusik.com.au/products/toowoomba-market-outlook-report/" target="_blank">Go here</a> for the full Matusik Market Outlook Report on Toowoomba.
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michaelmatusik-49YzLvdmNv

Why are fewer people moving to Queensland?

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GUEST OBSERVATION
It’s Saturday morning in West Brunswick, a suburb in Melbourne’s inner north. From my bedroom window I can see a crowd gathering across the road for a house inspection.
The crowd swells to 60 or so people – couples, couples with school-aged children, couples with small babies and then there are small groups of young people, clearly looking for share housing. Surveying the scene I feel like I can predict who my new neighbours might be.
Or, at least I am fairly sure who they won’t be. This semi-renovated three bedroom house has been up for rent three times in the past three years. At $560 per week the rental price is steep, yet each house inspection has attracted crowds like this one. And each time my new neighbours have been couples with a small baby. Young single people did not get a look in.
This is hardly surprising. The scene played outside my bedroom window reflects broader trends. Landlords <a href="https://www.realestate.com.au/blog/finding-the-right-tenant/" target="_blank">want safe bets</a> – people who can pay the rent, withstand rent increases, won’t trash the property and may even improve it.
And in a tight housing market with national demand outstripping supply – especially at the low end of the <a href="https://www.treasury.gov.au/~/media/Treasury/Publications%20and%20Media/Publications/2012/NHSC/Downloads/PDF/housing_supply_affordability_report.ashx" target="_blank">affordability market</a> – and rental vacancy rates <a href="https://www.ahuri.edu.au/housing_information/review/evrev053" target="_blank">between 1% and 4%</a> in capital cities across Australia, most landlords can afford to be choosy.
Young people find it hard to compete, especially in some segments of the rental market. Recent evidence indicates that young people are more likely to be in precarious housing than other age cohorts. They are more likely to be in unaffordable housing, private rental or overcrowded households, and to have recently experienced a forced move. And compared with couples with children they are almost seven times more likely to dwell in housing that is in poor condition.
<a href="https://www.vichealth.vic.gov.au/~/media/ResourceCentre/PublicationsandResources/Health%20Inequalities/Precarious%20housing/Precarious_Housing_Full_FINAL_2August.ashx" target="_blank">Preliminary evidence</a> is also emerging that like other age groups, young people’s experience of precarious housing also impacts negatively on their health and well-being, especially their mental health.
It’s little wonder, then, that young people are leaving home later than previous generations, typically around 23 or 24, often returning to the family home multiple times following job loss, tenancy breakdown or other life crises, before they settle into <a href="https://aifs.org.au/institute/pubs/diversity/DiversityAndChange.pdf" target="_blank">fully independent adulthood</a>.
This social trend has real consequences: for family finances, parent-child relationships and the way young people themselves imagine their place in the world, their rights and responsibilities, as well as their sense of capability, agency and autonomy.
This trend is only likely to increase if the <a href="https://theconversation.com/young-people-are-now-on-the-edge-of-our-reconfigured-welfare-state-26697" target="_blank">proposed changes</a> to the Youth Allowance and Newstart proceed as outlined in the recent federal budget. In a policy first, 30 is defined as the upper age of youth. And young people who finish their education and are looking for jobs – or those who get a job and lose it – will not be entitled to Youth Allowance (up to to the age of 25) or Newstart Allowance (25 years and older) for six months.
On $207 for <a href="https://www.humanservices.gov.au/customer/enablers/centrelink/youth-allowance/payment-rates" target="_blank">Youth Allowance</a> (living away from home) per week or $255 <a href="https://www.humanservices.gov.au/customer/enablers/centrelink/newstart-allowance/payment-rates-for-newstart-allowance" target="_blank">Newstart Allowance</a>, combined with maximum payment of $63 in <a href="https://www.humanservices.gov.au/customer/services/centrelink/rent-assistance" target="_blank">Commonwealth Rent Assistance</a>, young people currently find it extremely difficult if not impossible to access and maintain affordable housing. This will quite simply be impossible if benefits are, as proposed, suspended for six months.
While difficult for those young people who enjoy the support of their families, it is almost impossible for those who lack such support. These are the 22,000 or more young people estimated to be homeless on census night – a figure recognised by the Australian Bureau of Statistics as an underestimation of the <a href="https://www.aihw.gov.au/WorkArea/DownloadAsset.aspx?id=60129545638" target="_blank">actual population</a>.
This lack of support extends to nearly 3,000 young people nationally who are exiting out-of-home care services. A range of evidence suggests that anywhere between 40-60% of these young people will be homeless within a year of leaving care. Currently, it is estimated that 43,000 young people are receiving the youth allowance and living away from home.
These young people, who typically aspire to nothing less than their home-based peers (a house, job, sense of belonging and money to make a life), are <a href="https://www.vichealth.vic.gov.au/~/media/ResourceCentre/PublicationsandResources/Health%20Inequalities/Precarious%20housing/Precarious_Housing_Full_FINAL_2August.ashx" target="_blank">multiply disadvantaged</a> in the housing market. Without the safety net provided by the family they risk free-falling into long-term poverty and disadvantage. Most have low levels of education, with over half in some studies recording their highest level of education as Year 11 or below. Of those who find their way to services, nearly 90% are unemployed or not in the labour force.
We know that these young people are <a href="https://www.bsl.org.au/Social-exclusion-monitor" target="_blank">three times more likely</a> to experience social exclusion. Also compared to full-time employees, unemployed people are around 15 times more likely to be in <a href="https://www.vichealth.vic.gov.au/~/media/ResourceCentre/PublicationsandResources/Health%20Inequalities/Precarious%20housing/Precarious_Housing_Full_FINAL_2August.ashx" target="_blank">unaffordable housing</a>.
Like other homeless populations, these young people have <a href="https://www.aihw.gov.au/WorkArea/DownloadAsset.aspx?id=60129545051">few other housing options</a>. Most do not qualify for public housing, and when they do many languish on long waiting lists for a housing tenure that is widely recognised by policymakers and young people themselves as unsuitable.
Once homeless, some – depending on what area are living in, be it metropolitan, rural or remote – may find temporary refuge for six to 12 weeks in crisis accommodation. Some of these – if they are lucky – may go on to government-funded transitional accommodation for up to 12 months. A tiny number, and arguably the luckiest of all, end up in youth foyers: housing that is combined with tailored education and employment support.
The rest, however, continue to live rough, couchsurf, or try to make a go of it in rooming houses with shared bathroom and kitchen facilities. Increasingly, some find themselves in unregistered rooming houses: ordinary houses in the suburbs in which unscrupulous landlords sublet bedrooms at a premium price. Here, disadvantage is concentrated and a culture of violence and conflict is common. These are hardly the places to build sustainable, independent lives.
With a generation at risk of being locked out of the housing market and a significant minority of these falling through the gaps of the rental market, the need for a national youth housing policy has never been more pressing.
Oh, I almost forgot. We have new neighbours across the road: a couple with a small baby.
Shelley Mallett is professorial fellow in social policy, School of Social and Political Sciences at <a href="https://www.unimelb.edu.au/" target="_blank" style="line-height: 1.3em;">University of Melbourne</a>.
Shelley Mallett has received ARC and AHURI funding in the past. She is general manager, Research &amp; Policy Centre at the Brotherhood of St Laurence.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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po-LsXgBTHBmX

Crowded housing market gives youth little chance for independence

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The idea of multigenerational living (MGL) is not new and in some societies it’s a very old idea, however not so for Australia, although this may be changing.
Looking at the central role design plays in the planning and marketing of new residential developments, I think that we need to consider the more widespread impact of MGL, and its impact is already being felt, even if the changes are still only subtle, at the margins.
In some European and Asian countries MGL is a normal part of the social and housing fabric; in the USA the trend is on the increase mainly in response to economic conditions. In the US social conditions are also changing, shared living sits with shared economic resources and many of the trends are now being mirrored in the Australian housing landscape.
Economic conditions are linked at one end of the market to falling housing affordability and at the other end of the market tied to the insecurity of retirement income. In some parts of the US it is now more common to see parents living with the kids, along with grandparents and younger siblings living with their more financially stable older brothers and sisters. There are varied housing needs in play here across these different generations and this is impacting the size and design of housing stock. In Australia we see the same demographic pressures now starting to come into focus and the recent federal budget has further magnified the trends.
<blockquote>
Multigenerational living responds to many economic and social needs and is a trend that is going to continue to impact the design and demand for housing.
</blockquote>
Here we see pressure on the middle-class, Baby Boomers want to stay living in their homes for as long as they can, while their kids are also staying longer in the family home as they face the hurdles of housing affordability.
Also if baby boomers have to work longer towards their 70’s, then staying in the family home near employment will have an immediate impact. People close to retirement will stay local and the idea of a tree or sea change will be less appealing because of very limited employment options. Working longer and staying connected longer will make it more attractive to share accommodation.
The Security of Proximity
MGL delivers one clear benefit and that is the security of proximity. Grandparents under the same roof as their younger family members is an obvious example, but young couples with kids can also benefit if they have the support of parents and grandparents to help with either ongoing or occasional childcare. This pooling of resources both financial and because of the help of an extended family, even if only for a few years, will also help those saving for a home, and it is hard to argue that MGL will be on the increase driven by the desire to make housing more affordable.
The benefits apply as much to shared rental accommodation as they do to owned property, with the idea of shared rental accommodation taking us back to the past days of young people in a shared house or apartment.
Design Is Already Responding
In Australia MGL is already having an impact, and this will continue to gain pace as the market adjusts to our shifting demographics and economic circumstances. For example go to almost any new housing display village and you will find any number of homes with ‘parent’s or teenage retreats’ and with multiple living zones, and two-way kitchens. The granny flat is now a hotel-like self-contained unit on the ground level of a designer four or five-bedroom home. While more generally house designs are delivering designs that provide different shared spaces that also function to provide the privacy we all crave.
Or consider the options that a three-bedroom dual key apartment might offer a MGL family unit. A two bedroom home for mum and dad and a one bedroom flat for a young adult child, that could one day be homes in the reverse, or a multi-unit investment for the family. Another example I now see is one family buying a number of apartments in the same development to meet the different overlapping needs of different generations.
Multigenerational living responds to many economic and social needs, some long-term other short-term and others that relate to financial security and limitations, however this is a trend that is going to continue to impact the design and demand for housing.
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pchittenden-eLqUUC8TWW

Multigenerational living: The future impact on design and demand for housing

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Less than one bedroom of purpose built student accommodation is available per 10 students, according to JLL’s Australian Student Accommodation Market Update for 2014, and there's $1 billion of equity waiting to find an opportunity in this market.
<img src="/images/2014/06/18/chart%20of%20the%20week%20june%2018.png" alt="">
Source: Universities websites, JLL Student Accommodation Database 2014, ABS Census 2011, Department of Industry 2012, UCube, HESA 2011/2012
The graph above shows where students are currently living, with the majority opting to live with parents, rent or live elsewhere – such as in serviced apartments – as opposed to in university or commercial provisions. With student numbers increasing, this could be of further detriment to supply and perhaps open an opportunity for a student accommodation provider.
By 2020, growth is expected to result in a total of 760,000 international student enrolments in Australia, which is double 2012 figures.
Chinese students in 2013 made up a 29% share of international students, with 8.8% from India and 4.9% from Korea.
<img src="/images/2014/06/18/student%20number%20june%2018%20one.png" alt="">
JLL director of student accommodation services, Conal Newland, said that purpose built housing by private sector operators is “primarily occupied by international students, at approximately 75%”.
“We anticipate the demand for purpose built student accommodation will increase as international student numbers continue to grow,” said Newland.
“International students bring differing requirements for the design and operation of student housing based on their experience of residential accommodation from their countries of origin and also by the way in which they socialise.”
He noted that this provides an opportunity for the provision of purpose built accommodation, and for domestic and international investors who attempting to enter the Australian market.
“We estimate there is currently over $1 billion of equity looking to invest in the Australian student accommodation market.  These investors are seeking both opportunities to invest on and off campus, existing assets and development opportunities,” he said.
With a lack of assets currently available, transactions have also been limited – bringing just three large transactions, totalling $250 million, in the past 12 months.
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Over $1 billion of equity looking to invest in student accommodation market: JLL report

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Sydney’s inner and beachside suburbs, along with Darwin and Bunbury in Western Australia, boast the country’s lowest unemployment rates, <a href="https://www.theage.com.au/business/the-economy/sydneys-inner-city-joins-darwin-and-bunbury-with-lowest-unemployment-rates-20140612-3a0dg">Fairfax</a> reports.
While the national unemployment rate remained steady in May at 5.8%, rates for individual cities, suburbs and towns differ markedly.
The Sydney CDB, along with its eastern and inner-southern suburbs, hold the nation’s lowest unemployment rate at 2%, followed by Sydney’s northern beaches, Darwin and Bunbury at 2.3%.
Meanwhile, Ipswich in Queensland, south-eastern Tasmania and western NSW rank among the toughest places to find work.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Sydney’s inner and beachside suburbs have the lowest unemployment rates

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Dear Margaret,
I have read some of your Q&amp;A's and decided to email you. I hope that you may be able to give me some advice.
I am going through my divorce settlement with my partner and we have a one bedroom apartment investment house in Melbourne that is currently leased.
I intend to keep the investment house and turn into my principal place of residence after the divorce settlement.
Therefore, I hope you can advise whether this is a good idea and what the pros and cons of changing an investment house  into my principal place of residence?
Looking forward to hear from you soon.
Kind regards,
Thomas
Margaret's answer on the next page. Please click below.
<hr class="system-pagebreak">
Dear Thomas,
In Victoria, it is possible to transfer ‘by way of love and affection’ a property from one spouse to another and avoid stamp duty on that transfer.  In a divorce in any state, you can also make the transfer under a divorce settlement and avoid any transfer duty.
However there are a few other issues to consider.  Firstly, and depending upon the value of your spouse’s half at the time, she may incur capital gains tax on her half which is disposed of to you.  This would be assessed on the difference in the value as at time of transfer and the original cost base.  In your case, you would then have two separate cost bases on this property – the half you already owned would have the cost base applicable at the time of purchase and the half you acquire would have one applicable at the time of transfer under the property settlement.
If you live in the property and subsequently sell at a later date, half of the property would incur pro-rated capital gains tax using the cost base on the first half and the eventual sales price, calculated according to days rented, not rented. The second half would be CGT free. 
If at any time you do rent the entire property out, then it’s all complicated further – the half you owned is still pro-rated as above, but the half you acquire may qualify under the six year rule CGT exemption (as long as you do not claim that exemption elsewhere), or not, in which case it has a different method for CGT calculations.
In any event there is no impact on you until you eventually sell, but in the meantime I advise you to keep full and accurate records about everything, even any money you may spend on the property, as these records will be required by the tax office and be crucial for you to correctly establish all of your different cost bases. Apart from this issue, I cannot see anything else you should really worry about, as you are planning to make this your own home and so no further taxes should arise.
Kind regards,
Margaret
Have a property question?  <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

What are the pros and cons of moving into an investment property post-divorce?

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Estimating the number of properties that need to be built in any city to cater for a forecasted population change can be a tricky job.
Particularly when forecasts are prone to change.
Urban Taskforce CEO Chris Johnson notes that the projections over 20 years have changed – from 1.3 million people from the 2013 Metropolitan Strategy for Sydney to 1.575 million in the 2014 projections.
“If the robust population growth continues over 50 years we will need to double the number of houses or apartments in Sydney from the current 1,673,800. Clearly this is a big task and this will require a pro-growth attitude from community groups and councils and strong leadership from the state government. The stalled planning reforms will need to be reactivated to help drive housing supply.” This works out to around 90 dwellings a day.
Property Observer has made the supply situation, from the Urban Taskforce statistics, a little more digestible below (click to open in new window):
<a href="/images/2014/06/12/infographic%20june%2012%20one.png" target="_blank"><img src="/images/2014/06/12/infographic%20june%2012%20one.png" alt=""></a>
Sydney’s future will be one of density, Johnson more recently noted.
“Sydney will become more dense through the trend towards apartment living in urban areas and this will need an efficient rapid transit rail service with an under harbour crossing. By aligning the areas of future growth with new infrastructure Sydney can move from being a provincial city to a real global city rivalling the economic centres of London, New York and Shanghai. We must aspire to a bold future for Sydney but this needs good infrastructure,” he said.
Urban Taskforce predicts that the majority of these new dwellings will be in urban centres and along transport nodes.
Stand out LGA Population Predictions for 2031 (figure stated is total people in LGA for 2031)
<ol>
<li>Penrith: 261,450 Due to: Overseas migration (some internal migration loss noted) 
</li>
<li>Blacktown: 473,300 Due to: Overseas migration and fertility rate 
</li>
<li>Auburn: 130,600 Due to: Overseas migration and fertility rate (some internal migration loss noted) 
</li>
<li>Parramatta: 253,900 Due to: Overseas migration (some internal migration loss noted) 
</li>
<li>The Hills: 280,900 Due to: Overseas migration 
</li>
<li>Liverpool: 288,950 Due to: Overseas migration and fertility rate 
</li>
<li>Camden: 162,350 Due to: Internal migration gain and fertility rate</li>
</ol>
Source: NSW government 'Your Future NSW'
Click here to see the <a href="https://www.planning.nsw.gov.au/en-au/deliveringhomes/populationandhouseholdprojections/yourarea.aspx" target="_blank">projections for your LGA</a>.
Photo courtesy of Duncan Hill/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Sydney's population density increasing, here are the top growth areas: Urban Taskforce

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My usual property outlook presentation these days covers two main themes – cycle and structure.
The interplay between these two elements makes up the property market’s DNA.
I have written about the property cycle several times over the last 12 months and have also covered four of the main five ingredients that make-up the most important structural foundations supporting the Australia residential market. These four pillars include employment, wages, income and the cost/availability of money.
This will cover the most vital ingredient for mine, demographics.
Now I am not talking about population growth per se, but a deeper cut of the available statistics.
Also, I am not that interested in the past, but much more interested in the future.  I am talking about age forecasts.
We are lucky in Australia that the ABS, after each Census, recalibrates their age-related forecasts.  They did so late last year, with their estimates reaching out as far as 2100.  Now we won’t get that ahead of ourselves but we will have a look at what’s likely to happen over the next decade or so.
Housing demographics
I don’t really like generational segregation i.e. baby boomers; generation X and the like – I think they are too broad and don’t necessarily translate well when it comes to real estate action.
We instead break the market into seven segments:
<ul>
<li>
Children – aged up to 17 years.  Living mostly – one hopes – at home; and whilst not a direct influence on underlying demand, they are captured in the larger household sizes of first home buyers (3.3 people on average per dwelling) and the upgrading market (2.99 people per home).</li>
</ul>
<ul>
<li>
Young renters – 18 to 29 years.  Statistically, 77% of them rent, many rent apartments in our inner cities.</li>
</ul>
<ul>
<li>
First home buyers -30 to 44 years.  Yes, up to 44 years!  HECS, partnering later; parents as friends; travel; options galore – so yes, for many, it is not until their mid to even late 30s that they buy a home.  
</li>
</ul>
<ul>
<li>
Upgraders – 45 to 59 years.  Having children later means that many, even well into their 50s, still have teenage children at home.  With teenagers you want space – demand is highest for houses, with lots of bedrooms, a pool etc. 
</li>
</ul>
<ul>
<li>
Downsizers – 60 to 74 years.  Many want to move into something with a nexus to the ground; in a small project and if possible in their existing neighbourhood.  Living close to the grandchildren is also a strong locational consideration.</li>
</ul>
<ul>
<li>
Age-related care - over 85 years.  At this age – and it is mostly women who live this long – some form of assistance is often required.  But many who live to 85 years, the statistics show, can expect another ten years of life, so nursing homes (for the sake of labelling them) aren’t necessarily God’s waiting room these days.</li>
</ul>
Spending on housing peaks when people upgrade, and the money spent on housing, and the number of moves made, drops sharply once we are in our mid-to-late 50s.  See the chart below.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/housing-demo1.jpg"><img class="alignnone size-full wp-image-7294" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/housing-demo1.jpg" alt="housing demo#1"></a>
Market outlook
Our second chart outlines underlying demand – the number of new properties needed per annum – by each housing segment over time.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/housing-demo-2.jpg"><img class="alignnone size-full wp-image-7296" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/housing-demo-2.jpg" alt="housing demo #2"></a>
This chart suggests:
<ul>
<li>
Young renters – drop in market demand over the next 10 years.  My experience is that town planning is a decade behind the actual market and the willingness to approve downtown high-rise apartments in big blocks should have been done ten years ago, not now.  The demand for product is much smaller than many realise.  Well, that’s what the statistics are telling us.  And it is for that reason we aren’t advising on or advocating large scale downtown apartment projects these days.</li>
</ul>
<ul>
<li>
First home buyers – significant increase in demand.  Affordable housing is increasingly important, especially given the casualization of the Australian workforce.  Many may also remain renters out of choice or force.  But the potential demand is here.  More affordable product is the answer, not grants or handouts. 
</li>
</ul>
<ul>
<li>
Upgraders – a drop in demand.  This will slow down the momentum of the housing market in coming years, especially so once interest rates rise.  This is one of the reasons, we believe, why Australia’s housing market will contract post 2016.  
</li>
</ul>
<ul>
<li>
Downsizers – strong lift in underlying demand.  Many will opt to age in place, as the upgrading market that usually buys their property will not be large enough to consume this supply.  Also, many would sell if they could find smaller and affordable local digs.  The irony here is that this is the demographic that mostly protested against local infill development in the past.  However, some are reassessing this non-development stance.  First home buyers are another potential buyer group, but these larger houses will need to be retrofitted to allow shared accommodation to help first timers pay the mortgage.  This is the space in which town planners and urban decision makers need to spend more time, and not in ten years’ time! 
</li>
</ul>
<ul>
<li>
Retirement – a big shift too and more so in the 2020s.  Living in more compact housing suits this demographic – more travel; little maintenance and convenience.  Importantly, they like a limited number of neighbours; and they like their pets too.  Pet friendly developments are a must. 
</li>
</ul>
<ul>
<li>
Age-related care – little change, but post 2020 a massive shift upwards.  The ABS statistics suggest that during the 2030s, the largest single housing market is Australia – with the need to build close to 40,000 new dwellings per year – will be for those aged 85 or older.  It is little wonder that the likes of FKP and Eureka Group Holdings Limited are focusing on existing and future sites to cater for this pending demand.</li>
</ul>
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
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The demographics shaping Australia's housing future

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We all love a hilarious headline and this week we were served up a cracker - “Australian house prices fall 1.9% in May”.
What part of this embarrassing statistic is relevant to real estate? For such data to be extrapolated thousands and thousands of suburbs’ data would need to be fed in, all of which means next to nothing given it significantly fails the relevance test. Households are simply concerned with just the one thing, namely the data pertaining to the suburb in which they own property. For those slightly interested, Sydney posted a 1.1% decline which based on approximately 670 suburbs which would then average out at a 0.00164% decline per suburb.
When it comes to house prices what consistently fails to be mentioned is that the suburbs within that crucial 15 kilometre radius of the CBD continue to outperform simply because they are not cursed by diabolical infrastructure inadequacies. With Australia moving closer and closer to a population of 24 million and a resources industry in significant decline, there will be more pressures placed on the major cities as families relocate to gain employment.
It is anyone’s guess how Sydney (which is facing an 8 million population) and Melbourne (9 million) are simply going to cope given Australia’s current population growth rate is 1.8% and growing. The reality of the argument is that there is simply not enough housing to meet the projected demand nor for that matter even a plan projecting how these major cities will cope. Given it is quite obvious now that the residents of Sydney and Melbourne prefer to live as close to their respective cities, than the onus falls majorly on the governments to develop infrastructure that can meet with this demand which just so happens to be growing at the fastest rate ever recorded before.
To get a better perspective one only has to look at this week’s gross domestic product (GDP) which for the March quarter of 2014 grew 1.1% seasonally adjusted, although it would be fair to say that the June GDP figures won’t be anything to write home about. What the GDP figures did reveal is that it does not look good for Western Australia and Queensland given both are fast-tracked into spiral declines with reduced construction and commodity price declines. Historically, what usually happen next are major unemployment headlines as businesses start scaling down operations.
It should be noted that NSW posted a 9.3% increase in private investment for the quarter together with the best home approval figures in over ten years.
<a href="https://www.rwm.com.au/files/2014/06/2-06-2014-9-56-48-AM.jpg"><img class="aligncenter size-full wp-image-11333" src="https://www.rwm.com.au/files/2014/06/2-06-2014-9-56-48-AM.jpg" alt="2-06-2014 9-56-48 AM" width="429" height="420"></a>
The onus is now definitely on the states and territories to start getting their respective infrastructure spends into overdrive, hence the massive asset sales. The only foreseeable problem with these asset sales is what they do when there is nothing left to sell? It’s no secret that no Australian state or territory is basking in a budget surplus, rather all are in significant deficit or on the borderline.
It should not have come as any great surprise that when the Australian Bureau of Statistics (ABS) released data this week it revealed that 46.4% of state and local government taxation revenue from the 2012/13 financial year came from property related taxes. The total amount collected, a record, came in at $35.931 billion leaving consumers rightly furious that infrastructure and transport have never been worse.
<a href="https://www.rwm.com.au/files/2014/06/2-06-2014-9-59-05-AM.jpg"><img class="aligncenter size-full wp-image-11335" src="https://www.rwm.com.au/files/2014/06/2-06-2014-9-59-05-AM.jpg" alt="2-06-2014 9-59-05 AM" width="633" height="286"></a>
With strong public debate about the GST being raised it should be noted that when the GST was introduced by the Howard government back in July 2000 – this was done so on the basis that the states and territories would reduce/remove these taxes. It should be noted that council rates did not come under the GST removal mandate.
So the question that keeps popping up is once the assets have been sold (and this is fast approaching) then how are the state and territory governments going to survive given all they can tax is properties and businesses (remember pay roll tax was supposed to go also)? You can’t increase the GST only to see these respective governments run amok again as they can no longer balance the books.
Therefore there is a very sound argument to look at a model in Australia where state and territory governments cease to exist and local councils are merged into super councils. It would certainly be good for employment. Work, maintenance and construction would be consistently rolled out across the nation.
Quite simply, it may never come to fruition even though the USA does not have middle-tier government and it works fine there. It would be fascinating to see what this model would look like and how it could possibly work – which should not be that hard. It would certainly remove the politician pension gravy train which is a total waste of tax payer monies. Many would argue successfully that in itself is enough reason to remove this tier of government once and for all.
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robertsimeon-hRNTwJyXkQ

Onus on governments to build infrastructure for major cities' projected population explosion

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This week I was speaking with one of the land developers we source our development sites from and was interested to hear her say that they’d been told that the NSW state government were currently fast tracking land releases to meet their housing acceleration goals. Music to my ears as we are always on the lookout for good development sites in well planned areas.
One of the most important roles the Department of Planning and Environment is to work closely with other agencies, councils and communities to plan for housing supply and delivery in "greenfield" or undeveloped areas, and "infill" housing in existing areas.
The NSW government has allocated more than $300 million from the HAF in the 2013-14 NSW budget to drive housing growth.
This includes:
<ul>
<li>$141 million towards eleven water, road or electricity projects in Sydney and the Lower Hunter which can accelerate 42,900 new housing lots.</li>
<li>$70 million towards an upgrade of Old Wallgrove Rd in the <a href="https://www.planning.nsw.gov.au/StrategicPlanning/Employmentlands/WesternSydneyEmploymentAreaWSEA/tabid/366/language/en-US/Default.aspx" target="_blank">Western Sydney Employment Area</a> to deliver jobs near major housing growth centres</li>
<li>$99 million towards the <a href="https://www.planning.nsw.gov.au/StrategicPlanning/FundingPrograms/LocalInfrastructureGrowthScheme/tabid/653/language/en-US/Default.aspx" target="_blank">Local Infrastructure Growth Scheme</a> to assist councils fund local infrastructure needed to support growth above the developer contribution cap.</li>
</ul>
With our focus on project managing property developments in the Hunter Region of NSW, I delved a little deeper into the NSW Planning website which is a fantastic source of information. I wanted to see where the $141 million spend on infrastructure and where the new housing was planned for, although I already had a very good idea.
<a href="/news">Maitland</a>....it’s one of Property Bloom’s favourite cities to build and invest in throughout the Hunter. This city has experienced solid population growth, has a diverse economy and the planned growth of the city is no secret.  Council has identified several areas for new land release.  It’s an affordable yet established city and benefited from some recent infrastructure projects such as the Hunter Expressway opening this year, a new hospital being announced, road and bridge upgrades and an aggressive planning program to accommodate one of the state’s highest population growth projections.
Maitland’s population is projected to grow by 42% from 2011 – 2031. It’s one of the highest projected growth areas of NSW. The main drivers will be net internal migration from within the state – people moving perhaps from Sydney or other areas and interstate migration. Also from high fertility rates, apparently they make lots of babies there. Actually what that means it that it’s a nice place to raise a family with good schools and facilities. Housing is affordable and there is solid rental demand.
<a href="https://www.planning.nsw.gov.au/projections" target="_blank">Check out the website</a>, it also gives you the age profiles of the community, household types and size and my favourite, projected dwellings – this shows the number of dwellings needed to provide private housing for all projected households. This is a fabulous tool and we are using it to understand the local councils and NSW Planning expectations. We can then help our clients develop their property development strategy targeting the right locations for their developments.
Property Bloom project manages villa developments; dual occupancies or larger medium density developments as well as granny flat complying developments. One of the points raised on the NSW Planning website is that in 2011, couples with children were the most common household type in the Lower Hunter. However by 2031, most households will be occupied by couples only or those living alone, together making up 56% of all households in these regions.  Also the 65-84 year age group is projected to almost double in NSW. So the low maintenance villa dwellings that we are producing will meet the demands of this emerging market.
<a href="https://www.propertybloom.com.au/" target="_blank">www.propertybloom.com.au</a>
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