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

Hobart

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Hobart has recorded the lowest vacancy rate for any city in August. 
According to SQM Research, Hobart's vacancy rate was 0.4 percent in August, down from 0.5 percent in July.
Louis Christopher, SQM managing director said it is the lowest since SQM Research commenced measuring the rental market in 2005.
"Darwin recorded the sharpest decline for the month with vacancy rates falling to 2.5 percent (from 2.9 percent July)," he said.
"Darwin has now recorded falling vacancy rates for seven straight months in a row, which suggests the downturn in the Darwin rental market is over.
"Sydney recorded a vacancy rate of 2.0 percent which was largely steady from July.
"There had been a rise in vacancies in Sydney over the winter months, however, SQM expects this seasonal increase in vacancies to unwind during spring.
"Brisbane had a vacancy rate of 3.1 percent for August, down from 3.3% recorded in July.
"Perth continues to have the highest vacancy rate of all capital cities at 4.6 percent, but that result too was down for the month (4.9 percent July)." 
"The vacancy rate remained very tight at 0.4 percent in Hobart, down from 0.5 percent a month earlier, while in Sydney and Melbourne vacancies remain steady at 2.0 percent and 1.7 percent, respectively.
"All other cities recorded falls in vacancies for the month."
<a href="https://www.propertyobserver.com.au/images/2017/09/20/Screen%20Shot%202017-09-20%20at%209.59.15%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/20/Screen%20Shot%202017-09-20%20at%209.59.15%20AM.png" alt="">
"Overall the current rental market is a moderate landlord’s market.
"There is nothing in our numbers to suggest the market is about to be hit with oversupply.  
"Dwelling completions should peak in early 2018 and given the pronounced year on year declines in building approvals, we believe rents will likely rise at a faster pace 2018 than what has been recorded in 2017, thus far. 
"We now have mounting concerns for significant rental shortages in 2019 in Sydney and Melbourne."
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jonathanchancellor-7SQnKwU6yx

Hobart has recorded the lowest vacancy rate nationwide: SQM Research

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<h3 class="post-title entry-title">Sydney and Canberra listings crept higher in the lead-up to the spring selling season, taking national listings a little north over the month of August from 316,748 to 318,825, according to SQM Research. </h3>
<div id="post-body-7780315564848738704" class="post-body entry-content">
Asking prices in Sydney nevertheless moved higher than a month earlier, both for houses and units. 
Nationally total listings are -4.3 per cent lower than a year ago, however, driven by excessive annual declines in the firing Melbourne and Hobart housing markets. 
<a href="https://www.propertyobserver.com.au/images/2017/09/07/newb.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/07/newb.jpg" alt="">
Both monthly and annual listing numbers are also now in decline in Perth, suggesting that it's only a matter of time now before prices begin rising again in Western Australia, especially in light of the commodity markets rebound. 
Listings in Melbourne have now broadly fallen from ~50,000 to ~30,000 since 2012, with listings a massive -15.3 per cent lower year-on-year, suggesting that house prices will continue to surge in the Victorian capital. 
<a href="https://www.propertyobserver.com.au/images/2017/09/07/newB2.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/07/newB2.jpg" alt="">
In Hobart listings have plummeted some -20.2 per cent lower since August 2016, with now just 2,520 listings across the entire capital city market and a surfeit of willing buyers, both locally and from interstate.
House prices are recording gains of ~15 per cent per annum across Greater Hobart.
Simon Pressley, founder of Propertyology, notes that gains in inner metropolitan Hobart have been tracking at closer to ~20 per cent per annum.  
Supply sluggish
Hobart is a relatively small capital city of about 225,000 persons. 
<a href="https://www.propertyobserver.com.au/images/2017/09/07/newB3.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/07/newB3.jpg" alt="">
Normally, one would associate such a rapid run-up in demand and house prices with a decisive supply response.
Hobart is not a mainland city, however, and some larger developers may be a little more reluctant to get involved, due to logistics and cost.
To date the increase in dwelling approvals has been muted to say the least, suggesting that the Hobart price boom will likely continue well into 2018. 
SQM sees more first homebuyers entering the market in New South Wales and Victoria, drawn in by first homebuyer grants, but more stock likely to be hitting the market too.
GDP to be solid
In other news, the current account deficit widened in the second quarter to $9.6 billion on weaker commodity prices - albeit from a tremendously improved position - while net foreign debt declined for another quarter. 
Exports exceeded imports, however, and are expected add +0.3 percentage points to GDP growth when the national accounts are released today.
Furthermore there was a very strong +2.2 per cent increase in public demand, set to add another +0.5 percentage points to GDP. 
<a href="https://www.propertyobserver.com.au/images/2017/09/07/A1.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/07/A1.jpg" alt="">
Thus, despite the significant drag from inventories, Westpac now expects quarterly GDP growth to be around +1 per cent. 
And with a negative quarterly print to drop off in due course, GDP growth now seems likely to surge into the end of 2017.
One other interesting point of note for the phantom rate hike brigade to take note of, the Reserve Bank Governor noted in his dinner speech that the Board had considered the merits of lower rates still, but appears to have held off to allow the heat in the Sydney housing market to ease (which it now has). 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
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">Four Green Houses and a Red Hotel</a>.
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pwargent-M4siyDbqQY

Hobart mounts full-scale property boom

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A 1930s red brick building with sandstone detail in greater Hobart has sold for $910,000 at auction.
The four-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-bellerive-126060878" target="_blank">13 Cambridge Road, Bellerive</a> was built in circa 1930 to replace the adjacent old Police Station.
The building demonstrates the characteristics of a two storey inter-war Gothic Government building, according to its description.
It features double hung windows, parapeted gables and lintels over the windows.
It is currently zoned General Business.
The building area is 199 sqm and it sits on a land area of 458 sqm.
The selling agents were Candice Gottschalk and Greg Gottschalk of Harcourts.
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prateek24-ezbwHMbNAk

1930s building in Hobart fetches $910,000 at auction

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There’s mounting activity in and around real estate in Hobart and, according to media, it’s a sudden explosion.
A Domain report says there’s an “unprecedented” surge in activity from international developers “who are now ditching the mainland in favour of Hobart”. 
It reports a big increase in hotels planned for the city’s tourism industry – and in developers actively seeking sites for residential development.
Chief executive of Knight Frank Tasmania, Scott Newton, reports big demand for Hobart development sites, which is also described as “unprecedented”.
“Hobart has generally lagged the national market but we’re certainly seeing change unfold and there’s been a catch-up take place,” he says. 
I’m not surprised at the interest in the Hobart market – and it’s not sudden and it’s certainly not unprecedented. Hobart and Tasmania have been making a strong case for attention from investors of all kinds for a couple of years now.
Hobart has become a serious national player in the overall residential property scene, with its appealing mix of the lowest prices, tightest vacancies and highest rental yields in capital city Australia, underpinned by a greatly improved state economy.
Both SQM Research and CoreLogic have published recent data showing that annual price growth is strongest in Melbourne, followed by Canberra, with Hobart now challenging the leaders.
CoreLogic has Sydney now ranked third on price growth with Hobart fourth, while SQM rates Hobart as third best on capital growth and Sydney fourth. 
Vacancy rates remain tight or moderate in all of the state and territory capital cities except Perth, but Hobart has maintained its status as the tightest rental market. 
Both Domain and SQM Research record vacancies below 2% in Hobart, Canberra, Melbourne and Adelaide. Both sources have Sydney hovering around 2%, with Brisbane and Darwin both around 3%.
“Available rental accommodation in Hobart and Canberra remains scarce, with the lowest house vacancy rates of all the capitals at just 0.5% and 0.8% respectively,” says Domain chief economist Andrew Wilson. 
Here’s the key thing: none of this should surprise anyone who’s been paying attention. The rise of the Hobart market to national prominence has been entirely predictable and has been unfolding steadily throughout 2016 and 2017.
Here’s what I wrote on Property Observer 18 months ago, in February 2016: “For six months or more, I’ve been getting blank stares or responses like “Seriously?” whenever I suggest to investors they should be considering Hobart.
“It’s really easy to get a bad reputation and extremely hard to lose it. Tasmania has the image of a basket base economy. A state that’s losing population. A property market bereft of growth. 
“For many years, all of that has been true. It’s true no longer.  But most people won’t be convinced until they read there’s a boom on. And by then it will be too late to buy well.
“Perhaps it is already. According to the latest House Price Report from Domain, Hobart median prices rose 8.7% for houses and 7.1% for apartments in 2015. The apartment result is the second best among the capital cities, after Sydney.” 
That was February last year. Eighteen months later it’s certainly too late to get the best of the buying, with some research showing that the nation’s hottest suburbs, in terms of “Time On Market”, are all in Hobart. 
This is confirmed by reports from industry professionals at the coalface, who report that houses are selling as fast as they’re listed. 
There were two core factors that prompted that prediction about Hobart prices at the beginning of last year: the steady rise in sales activity and the improvement in the state economy.
At that time, numerous reports were recording the improvement in the Tasmanian economy including the NAB business survey, a Deloitte Access Economics Business Outlook report and CommSec’s State of the States report.
But the bigger pointer for me was the research Hotspotting goes on sales volumes. Changes in sales activity are always a precursor to price movements, both up and down. Hotspotting analyses sales volumes patterns for every town and suburb in Australia every quarter – and that process forecast the price rises that are now occurring in the Hobart market.
In February 2016 I wrote:  “Cheap real estate, a market with rising momentum, underpinned by a strongly moving economy - it’s a package worth considering.’
Those who followed that advice would have bought well ahead of the price rises and done well – and will do better, because there’s more to come.
Buyers can still get into the Hobart market and achieve capital growth, but the best time to be there was 18 months ago.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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terryryder-YECXbqmri2

Hobart has become a serious national player in the residential property scene

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Hobart is the cheapest capital to purchase a unit, according to CoreLogic’s latest report.
The property data firm says that units in Hobart have a median price of $287,000.
This is followed by Adelaide with $307,000 and Brisbane with $380,000.
<a href="https://www.propertyobserver.com.au/images/2017/07/18/Screen%20Shot%202017-07-18%20at%2010.07.46%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/18/Screen%20Shot%202017-07-18%20at%2010.07.46%20am.jpg" alt="">
Sydney and Melbourne take the top spot as the most expensive locality to purchase units with a median price of $720,000 and $529,000 respectively.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-tas-howrah-125928154">2/441 Oceana Drive</a>, Howrah (above) has been listed for over $290,000.
Built in 1987 the property was last sold in 1997 for $82,000.
<div>
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-tas-rokeby-124761050">4/8 Clarence Crescent</a>, Rokeby (below) has been listed for $275,000 plus.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/18/4_8%20Clarence%20Crescent.jpg" alt="">
</div>
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j.ballantyne1990-6AQqhLzZaK

Units the cheapest in Hobart: CoreLogic

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Listings rose 3 percent in June, driven mainly by a 7 percent jump in Brisbane.
Higher listings in the month mirror recent softening auction trends, reported SQM Research. 
Over the year, listings are still 3.3 percent lower, with Melbourne (-12.7 percent) and Hobart (-14,8 percent) recording excessive declines. 
<a href="https://www.propertyobserver.com.au/images/2017/07/05/SQM1.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/05/SQM1.jpg" alt="">
Melbourne house prices have exploded 
The Hobart market is very tight, with a total of only 2912 listings, sending rents and house prices higher. 
With the other exception of Melbourne, listings are generally higher this year than last.
Listings in Brisbane jumped by 7 percent in June, as vendors struggle gamely to offload a glut of apartment stock.  
<a href="https://www.propertyobserver.com.au/images/2017/07/05/SQM2.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/05/SQM2.jpg" alt="">
Meanwhile SQM reported that median asking prices in Melbourne have exploded, rising by 22 percent over the year to June. 
Indeed, Melbourne asking prices for houses have increased by a massive 48 percent over the past three years, now comfortably outstripping growth in all other capital cities, including house prices in Sydney at 39 percent. 
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
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">Four Green Houses and a Red Hotel</a>.
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Hobart property market tight

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By some measures, Hobart is the hottest market in Australia. In terms of typical days on market for houses to sell, the fastest-selling suburbs in Australia are now found in Hobart.
The latest survey of sales activity by Hotspotting confirms that impression: relative to its size, Hobart has more growth markets than any other capital city in Australia. Agents we trust tell us they’re selling homes as fast as they can list them.
Other sectors of the Tasmanian market are busy also, led by Launceston and some of the towns in the state’s north.
Sales activity in the state has been rising steadily over the past three years. In 2016 and early 2017, every quarter has achieved higher house sales than the equivalent period a year earlier, a pattern that’s been evident now for the past three years.
For example, if we compare the past three September quarters, sales have increased from 2,300 (2014) to 2,580 (2015) to 2,832 (2016). Sales in consecutive December quarters have climbed from 2,515 to 2,718 to 3,017.
For those and other reasons, Hotspotting has been forecasting the advance of real estate markets in Tasmania for the past two years.
Real estate in Hobart, and Tasmania generally, has risen on the back of greatly improved economic performance and elevated infrastructure spending. In the State of the States report by CommSec, Tasmania’s national ranking has recently risen from 7th to 4th - putting it ahead of Queensland, WA, SA and the Northern Territory.
This is reflected in the increasing number of busy suburbs in Hobart. Our latest survey reveals that the number of suburbs with rising markets has more than doubled in the last six months.
Affordability is a big driver in this market. There is a rising influence of investor buyers in the market, attracted by the status of Hobart as the cheapest capital city market in Australia (as well as the city with the lowest vacancies and highest rental yields).
With affordability a core attraction, it’s the cheaper areas of the Hobart metropolitan area that are doing the best (although all sectors are busy).
The Glenorchy LGA has five growth suburbs (Berriedale, Claremont, Glenorchy, West Moonah and Austins Ferry), while the Clarence LGA has four  (Geilston Bay, Rokeby, Warrane and Bellerive). To put that in context, the median house price for both Warrane and Claremont is $265,000, while Rokeby is $215,000 and Glenorchy is $275,000.
Glenorchy (the suburb) is typical of the growth markets - sales levels have been 47, 49, 55, 67, 70, 85, 80 and 91 in the past eight quarters. In Kingston in the Kingborough LGA in Hobart’s south, sales levels have been 50, 61, 65, 68, 71, 79, 70 and 82 in consecutive quarters.
Rising sales activity is now translating into good price growth. The latest figures from the SQM Research Asking Prices Index has Hobart houses up 14% and units up almost 17% in annual terms. Meanwhile, asking rents have risen 7% on average for houses and 13% for units.
But it’s not just a Hobart story; other centres, notably Launceston and Devonport, are doing well also.
In Launceston, house sales in consecutive quarters throughout 2016 were 422, 465, 470 and 480 - a rising pattern which has continued in 2017. The number of growth suburbs in the Launceston area, covering the Launceston and West Tamar LGAs, has risen strongly in recent surveys.
South Launceston typifies the growth in this market. Its sales levels have grown from 20 to 29 to 34 to 46 to 52 in the past five consecutive quarters, a pattern highly likely to deliver growth in property values.
In the north, the Wynyard, Devonport, Shearwater and Somerset markets are all rising.
So while there’s growing evidence that the headline markets like Sydney and Melbourne are fading, Hobart is still quite early in its up cycle and is likely to continue growing for some time.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Hobart the hottest market in Australia

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The accommodation platform Airbnb is keeping the Hobart housing market "robust”, according to the chief executive of Tasmania's second biggest lender, MyState Bank.
Melos Sulicich said investors were listing their properties on Airbnb because of a lack of hotel accommodation, The Australian Financial Review reported.
"There's a lot of apartments and small housing rentals going onto Airbnb [and because of this] there's a shortage of long-term rental accommodation," Sulicich was quoted by the AFR.
The Central Hobart vacancy rate has fallen from about two per cent to just 0.6 percent over the past two years, pushing up annual rents by four per cent for houses and 12 per cent for apartments, according to data compiled by SQM Research.
Searches on Airbnb show more than 300 properties available for rent on Airbnb across greater Hobart. According to analytics firm Airdna, which analyses Airbnb data, there are 111 properties for rent in Central Hobart, up from 96 a year ago with 84 being entire homes or apartments.
A <a href="https://www.propertyobserver.com.au/https://www.airbnb.com.au/rooms/4386251?location=Hobart%2C%20Australia&amp;s=ldgAtSGr" target="_blank">studio in West Hobart</a> is up for rent for $80 a night. The ad says it has its own courtyard and access and is close to the city.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/15/Hobart1.jpg" alt="">
Another <a href="https://www.propertyobserver.com.au/https://www.airbnb.com.au/rooms/2919585?guests=2&amp;adults=2&amp;location=Hobart%2C%20Australia&amp;s=eAyRkUfI" target="_blank">one-bedroom house</a> with garden was advertised for $195 per night in Hobart’s Battery Point suburb.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/15/Hobart2.jpg" alt=""> 
Hobart was experiencing a pent up demand from the increased tourism - the latest ABS figures show international visitor nights up 20 percent - to match the new supply, Sulicich said.
The development pipeline includes a number of hotels in Hobart and across Tasmania, but Sulicich doesn’t expect a big impact on the housing market when these hotels open.
He also brushed off the most recent CoreLogic housing data for May, which showed a 4.8 percent drop in dwelling values in Hobart to a median of $350,000, after values had risen 10.2 percent over the previous 12 months.
The fall reflected the "law of small numbers" (referring to the size and volatility of the market) rather than any sign of a major correction in Hobart house prices, Sulicich said.
MyState, whose loan book from Tasmania makes more than half of its total of more than $4 billion, was seeing similar levels of mortgage growth, Sulicich said.
Sulicich said Tasmania was heavily dominated by owner-occupiers which accounted for 80 percent of its borrowers.
 
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Hobart housing market 'robust', with Airbnb's help: MyState Bank chief

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Properties under $400,000 are very much available in Hobart, according to CoreLogic’s latest report.
The property data firm says that houses in Hobart have a private treaty median price of $390,000 while units are $323,250.
<a href="https://www.propertyobserver.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2012.03.01%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/29/Screen%20Shot%202017-05-29%20at%2012.03.01%20pm.jpg" alt="">
Sydney and Melbourne remain the most expensive area to purchase properties with Sydney properties approaching the $1 million mark while Melbourne properties can only be bought between $500,000 and $700,000.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-tas-south+arm-125460150" target="_blank">3248 South Arm Road</a>, South Arm (above) has been listed for between $260,000 to $285,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-tas-bellerive-125460510" target="_blank">4/31 South Street</a>, Bellerive (below) has been listed for between $240,000 to $260,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/29/4_31%20South%20Street.jpg" alt="">
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Hobart property median price sits under $400,000: CoreLogic

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Properties in Hobart takes slightly more time to sell than properties in Sydney or Melbourne, according to CoreLogic’s latest report.
The property data firm says that homes in Hobart takes 38 days to be sold while units can expect to stay on the market for 35 days.
This is slightly higher than Sydney or Melbourne where it takes only a month for properties to be sold.
<a href="https://www.propertyobserver.com.au/images/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.20.22%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.20.22%20pm.jpg" alt="">
Perth and Darwin continue to be the two slowest places to sell a property with properties taking close to two to three months to sell.
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