<p>National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.</p>

<p>Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373556]</p>

<p>The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.</p>

<p>Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.</p>

<p>"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.</p>

<p>"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.</p>

<p>"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373559]</p>

<p>Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.</p>

<p>The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373583]</p>

<p>Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.</p>

<p>Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373571]</p>

<p>Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>Completion of Crest &amp; Walker is slated for late 2028.</p>

<p>[smartcode_project_cta:default project_id=145922]</p>


Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

<p>The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.</p>

<p>It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.</p>

<p>Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.</p>

<p>While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68833]</p>

<p>Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.</p>

<p>The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.</p>

<p>"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.</p>

<p>"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.</p>

<p>"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=360215]</p>

<p>One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.</p>

<p>"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.</p>

<p>While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.</p>

<p>"The size of the site is something that would be incredibly difficult to replicate today," she says.</p>

<p>"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68839]</p>

<p>There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.</p>

<p>As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.</p>

<p>"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.</p>

<p>A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.</p>

<p>The remaining apartments are ready to inspect in person, by appointment.</p>

<p>[smartcode_project_cta:default project_id=6515]</p>


A decade in the making: Residents to move into Chevron One as construction wraps up

<p>A general rule of thumb in new apartment developments is that the penthouses get the rooftop.</p>

<p>It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.</p>

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.</p>

<p>Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.</p>

<p>The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374053]</p>

<p>"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.</p>

<p>"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.</p>

<p>"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374052]</p>

<p>The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.</p>

<p>Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.</p>

<p>The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374054]</p>

<p>Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.</p>

<p>Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370962]</p>

<p>While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.</p>

<p>It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.</p>

<p>Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=366550]</p>

<p>That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.</p>

<p>Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

<p>As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=359199]</p>

<p>The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.</p>

<p>Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.</p>

<p>In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360299]</p>

<p>The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.</p>

<p>Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.</p>

<p>This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360300]</p>

<p>What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.</p>

<p>The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.</p>

<p>Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.</p>

<p>[smartcode_project_cta:default project_id=426]</p>


Elevated amenity anchors daily life at Aeris, Melrose Park

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


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

Home Building

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<p>The home builder AVJennings, spurred by the Homebuilder grant, has seen a 47 per cent year on year jump in house sales.</p>

<p>The details were revealed when AVJennings reported its results for the six months to December 31.</p>

<p>It has 12,700 lots in its portfolio.</p>

<p>2021 will see the commencement of three new projects, Prosper at Kogarah in Sydney; Rosella Rise at Warnervale on the NSW Central Coast; and Aspect at Mernda in Melbourne’s strong northern corridor.</p>

<p>All are due to commence on-site development. Last year saw its Bethania project in Queensland recommence with construction after a three year hold.</p>

<p><img alt="" height="816" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/av_jennings_results.jpg" width="1200"></p>

<p>Its managing director Peter Summers forecast an even better second half for the company given new-home buyers remain active. It had 408 pre-sales carried over at 31 December 2020.</p>

<p>It has 331 contracts signed at 31 December 2020 with a pre-sale value of $121 million expected to settle before 30th June 2021. Around 118 additional contracts were signed in 2021 to 23 February 2021. It typically sells to owner occupiers, with some 46 percent being first home buyers during the first year of the financial year.</p>

<p>During the last financial year FHBs sat at 35 percent of their buyers. Over the period investors fell from 11 percent to 9 percent, while builder/developers fell away to constitute 14 percent of the market rather than its prior 21 percent take up.</p>

<p>HomeBuilder and other government support/stimulus had been "vital" in encouraging existing underlying demand to continue with their buying intentions, the report noted. It also noted the resumption and level of immigration into Australia, and New Zealand, will be important drivers of activity for the sector.</p>
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AVJennings is cautiously optimistic that the recovery will consolidate through 2021

jchancellor

Home builder AV Jennings sees big jump in house sales

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<p><span>OK so the </span>ABS Building Activity<span> data series doesn't quite run back to 1788, but take a Captain Cook at this:</span></p>
<p><a href="/images/2015/10/19/BA3.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/19/BA3.jpg" alt=""></span></p>
<p> </p>
<div>Dwelling completions have surged to their highest ever level with more than 186,000 homes completed over the past year.<br><br>Furthermore there are presently some 184,000 dwellings under construction, which is the highest number in Australia's history.</div>
<div> </div>
<div>Many pundits scoffed at the Reserve Bank's plan to stimulate construction, but prices are rising and supply has responded with a vengeance, despite inflation in the cost of trades and materials. </div>
<div> </div>
<div>As the largest cities have become denser over time, this construction cycle has largely been a story of units, townhouses and apartments - the "attached dwellings" sector. </div>
<p><strong><span style="text-decoration: underline;"><br></span></strong><strong><span style="text-decoration: underline;">Building work done</span></strong><br><br></p>
<div>It should be acknowledged that in spite of all the numbers that are being thrown around in relation to record home starts, record completions and record dwellings under construction, the residential construction boom has likely now nudged against its peak. </div>
<div> </div>
<div>Despite being higher over the year the value of new residential building work done slipped -3.4 per cent lower in the June quarter to $12.8 billion, although the resi sector was held up to some extent by a long overdue +4.0 per cent surge in major renovations work. </div>
<div> </div>
<div>There has not been much to shout about from the non-residential sector since the financial crisis stimulus. </div>
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<div><a href="/images/2015/10/19/BA1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/19/BA1.jpg" alt=""></div>
<div> </div>
<div><span>At the state level the economies of the most populous states have benefited from a building boom, but the value of building work done appears to have peaked, albeit remaining at a historically high level. </span></div>
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<div><a href="/images/2015/10/19/BA2.jpg" target="_blank"><span>Click to enlarge</span></a></div>
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<div> </div>
<div>
<strong><span style="text-decoration: underline;">Dwelling completions by state</span></strong><br><br><div>Where are new houses coming online? Mainly in Victoria with more than 31,000 houses completed over the past year.</div>
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<div><a href="/images/2015/10/19/BA4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/10/19/BA4.jpg" alt=""></div>
<div> </div>
<div><span>As for units and apartments there has been a strong completion rate across most of the larger states, with Victoria again leading the way in completing nearly 25,000 units over the past year. </span></div>
<div><span> </span></div>
<div><a href="/images/2015/10/19/BA5.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/10/19/BA5.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>Although it will be the topic of a separate blog post, these figures show why the "Sydney oversupply" meme has been wide of the mark. </div>
<div> </div>
<div>The above charts represent state level figures, and it is clear that the supply of new units and apartments has ramped up impressively over the past four years.<br><br>But despite the improvement, total dwelling completions in New South Wales of 144,000 dwellings is barely keeping pace with a population which has surged by close to 400,000 over that time, while this follows on from a weak half decade of completions in the harbour city which ran from 2005.</div>
<div> </div>
<div>After accounting for stock obsolescence and demolitions, the thousands of apartments which are left vacant, and the fact that close to half of new dwellings in NSW over that time have been units (which typically house only provide accommodation for a couple)...well, there's not much overbuilding in aggregate to be found in those numbers, even if the rentals market is now fully supplied.<br><br>It is much more difficult for a growing city with a population the size of Greater Sydney (approaching 5 million) to overbuild housing than it is for a city the size of, say, Belfast, although Melbourne is certainly giving its best shot.<br><br>For all that, there are of course plenty of sub-regions around Australia with localised oversupply, and particularly so the case of higher-density dwellings. </div>
<br><strong><span style="text-decoration: underline;">Commencements peak at record high</span></strong><br><strong><span style="text-decoration: underline;"><br></span></strong>
<div>Total commencements have increased by +14 per cent over the past year to a new high of nearly 210,000.</div>
<div> </div>
<div>It was another strong quarter in June, but the 53,314 commencements result was below that of two of the preceding three quarters, and it is forecast that commencements will now decline through 2015/16.</div>
<p><a href="/images/2015/10/19/BA6.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/19/BA6.jpg" alt=""></p>
<p> </p>
<p><span>Finally, there are 184,000 dwellings under construction at the present time, which is the highest figure in Australia's history. </span></p>
<p><span>Click to enlarge</span></p>
<p><span><img src="/images/2015/10/19/BA7.jpg" alt=""></span></p>
<p> </p>
<p><span>This should keep the residential construction sector operating at or close to its full capacity for some time to come.</span></p>
<p><span> </span></p>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
<p><span> </span></p>
</div>
</div>
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pwargent-M4siyDbqQY

Strongest homebuilding since 1788: Pete Wargent

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<p>The ABS reported that Building Approvals remained resolutely strong in August 2016, with some 20,788 private sector dwellings approved, driven yet by another rebound in attached dwellings.</p>
<p>The trend in detached house approvals has declined by about 5 percent since peaking in April 2015, while attached dwellings have just kept on trucking. </p>
<div id="post-body-9064765407508357015" class="post-body entry-content"><a href="/images/2016/10/07/A1.jpg" target="_blank">Click to enlarge</a></div>
<div class="post-body entry-content">
<br><div class="separator"><img src="/images/2016/10/07/A1.jpg" alt=""></div>
<div> </div>
<div>Over the year to August some 238,204 dwellings were approved, with the annual total levitating above 200,000 for 23 months on the bounce since October 2014. </div>
<div> </div>
<div>Commentators have been calling for an end to the boom for, well, basically all of that time, but those pesky numbers just won't sit down. </div>
<div> </div>
<div><a href="/images/2016/10/07/A4.jpg" target="_blank">Click to enlarge</a></div>
<br><img src="/images/2016/10/07/A4.jpg" alt=""><br><br><div><strong><span style="text-decoration: underline;">City by city (moar apartments!)</span></strong></div>
<div> </div>
<div>Perth and Darwin continue to adjust to their respectively slowing markets, with house approvals accordingly in a steep decline. </div>
<div> </div>
<div>Melbourne remains the city with the strongest trend in house approvals, which may be just as well given the awesomely strong population growth in that city.</div>
</div>
<div class="post-body entry-content"> </div>
<div class="post-body entry-content">
<a href="/images/2016/10/07/A3.jpg" target="_blank">Click to enlarge</a><br><div class="separator"><img src="/images/2016/10/07/A3.jpg" alt=""></div>
<br><div class="separator">Sydney has seen a number of monumental projects put forward for consideration over the past year, including a 10-tower monster being proposed for the site of the present Fish Markets, opposite the old Wentworth Park Dogs.</div>
<div class="separator"> </div>
<div class="separator">It's never entirely clear specifically which projects the ABS approvals figures relate to, but Sydney has approved an all-comers record 11,838 attached dwellings in only three months (wow-wee!). </div>
<div class="separator"> </div>
<div class="separator">Records are being zinged all over the shop here.</div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2016/10/07/A2.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/10/07/A2.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">High rise kaboom</span></strong></div>
<div class="separator"> </div>
<div class="separator">It's no particular surprise to note that the rebound has been driven by high-density apartment projects of four or more storeys - a high proportion of these will be sold to mainland Chinese - with approvals for most other dwelling types in a steady decline.</div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2016/10/07/A5.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/10/07/A5.jpg" alt=""></div>
<br><div>While Victoria may have seen a number of high-rise projects pulled forward into FY2015/16 due to planning changes, New South Wales is rubber-stamping projects for fun right now (although whether all of these approvals come to fruition is another thing).</div>
<div> </div>
<div><a href="/images/2016/10/07/a6.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="/images/2016/10/07/a6.jpg" alt=""></div>
<br><div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>The approvals figures have elicited quite a lot of excitement, although the completions delivered to date have been far less arousing.</div>
<div> </div>
<div>The Housing Monitor reported that Sydney saw a total of 30,191 houses and apartments completed during 2015/16, which was the strongest result since 1999/2000 (which if anything just underscores how long it has been since Sydney constructed a decent number of dwellings). </div>
<div> </div>
<div>This sounds quite impressive until you compare it to the hugely strong population growth of the Greater Sydney region over the same time period. </div>
<div> </div>
<div>Unsurprisingly, the impact on price growth was precisely zip, with dwelling prices rising by about 10 per cent. </div>
<div> </div>
<div>However, the key characteristic of this construction cycle is the lag - and apartment completions will increase further in 2016/17. In fact, a lot further. </div>
<div> </div>
<div>The figures clearly continue to show that the delivery of this glut of high-rise projects is the most at-risk sector of the market.</div>
<div> </div>
<div>
<div id="post-body-4803553000461029700" class="post-body entry-content">
<div class="separator">
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
</div>
<div> </div>
</div>
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High rise projects most at-risk sector: Pete Wargent

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<p>GUEST OBSERVER</p>
<p>The headline number of new dwelling approvals rose again during October - the third consecutive month of expansion – a consequence of significant growth in Victoria. </p>
<p>The ABS Building Approvals data report that the total number of new dwelling approvals rose by 0.9% compared with September.</p>
<p>This growth was underpinned by a 24.3% increase in approvals in Victoria and 6.1% growth in Queensland, which outstripped the declines in all other states.</p>
<p>The remarkable growth in Victoria is the stand-out feature of the Australian housing market at the moment.</p>
<p>Strong employment growth in Victoria is attracting interstate and international migration and the rising population is continuing to drive demand for more housing stock.</p>
<p>The record supply of new apartments in the state has not been able to fully satisfy demand.</p>
<p>Today’s data are consistent with our latest forecasts which were released earlier this week. The short- term outlook for new home building has been upgraded.</p>
<p>During 2018, we foresee an 8.2% reduction in new dwelling starts followed by a decline of 10.0% in 2019. This will mean that new home building activity will ease to levels that remain high by historic standards.</p>
<p>The positive result was driven by new detached house approvals which saw a 1.9% gain during October. Approvals on the multi-unit side dipped by 0.2% during the month.</p>
<p>New dwelling approvals declined in five jurisdictions during October, with the largest fall affecting Western Australia (-17.8%).</p>
<p>There were also reductions in Tasmania (-13.1%), South Australia (-8.4%), New South Wales (-6.8%) and the ACT (-5.3%). Only two states experienced growth in new dwelling approvals during October 2017. </p>
<p><em><strong>Shane Garrett</strong> is a senior economist at HIA.</em></p>
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jrobinson-rf4aSBido9

Victoria pushes national approval rate higher: Shane Garrett

<html><body><div class="cq-article-content-paras section">
<p>Tokyo-listed Daiwa House has expanded into Australia's house building sector with the acquisition of Rawson Homes, which is ranked the fifth-biggest home builder in NSW.</p>
<p>Daiwa House will collaborate with the Rawson Group to further expand the Rawson Group's businesses in Australia, the company said in a statement.</p>
<p>Limited terms of the deal were announced by Baker McKenzie.</p>
<p>Baker McKenzie acted for the Tokyo based Daiwa House Industry Co., Ltd in the cross-border acquisition of the Rawson Group in Australia</p>
<p>Transaction documents were signed on 28 November 2017.</p>
<p>The Daiwa House is Japan's largest homebuilding company, is listed on both the Tokyo Stock Exchange and has approximately 40,000 employees globally.</p>
<p>The Rawson Group is a residential housing construction and land development business located in Sydney, Australia.</p>
<p>Baker McKenzie Head of Corporate Markets in Australia, Ben McLaughlin noted the Rawson Group was a 40 year old private corporation focused on land development and the construction of single-family homes in Sydney.</p>
<p>"The acquisition marks the Tokyo-based, Daiwa House Industry Co, Ltd's accelerated expansion through acquiring overseas businesses which are expected to see medium to long term growth," he said.</p>
<p>The transaction was led in Tokyo by Partner Mr Tetsuo Tsujimoto and his colleague Mr Tsubasa Kubota, and in Sydney by Mr Lawrence Mendes and Ms Emily Hunter who are members of Ben McLaughlin's team.</p>
<p>Rawson, Australia's 20th-largest home builder with 1188 housing starts in the year to June, according to the HIA-Colorbond Steel Housing 100 report, made net sales of $544 million and a net profit of $35 million, Daiwa House said.</p>
<p>It will take possession of the shares – owned by brothers Mark, Peter and Lawrence Rawson – next January, subject to the Foreign Investment Review Board.</p>
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j.ballantyne1990-6AQqhLzZaK

Rawson Homes acquired in Daiwa House's expansion into Australia's house building sector 

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>GUEST OBSERVER</p>
<p>ABS figures for November 2016 demonstrate strength in lending for new housing.</p>
<p><span>Lending for new housing - to both owner occupiers and investors - turned in strong results in this latest ABS update.</span></p>
<p><span>The new home building </span><span>sector will continue to provide strong support to the broader Australian economy through the </span><span>first half of 2017.</span></p>
<p><span>The number of owner occupier loans for the construction or purchase of a new dwelling increased by 2.7 per cent in November 2016. Meanwhile the value of lending for construction investment reached a new record on a moving annual basis. </span></p>
<p><span>The new home lending cycle has peaked, but the November results confirm that the elevated volumes of lending we have seen over the last three and a half years remained in play as 2016 neared an end</span><span>. </span></p>
<p><span>T</span><span>hat’s a tick in the box for the Australian economy</span><span>.</span><span><br></span></p>
<p><span>As has been typical throughout this cycle, the profile for new home lending varies widely between states and territories</span><span>. </span></p>
<p><span>Looking beyond just today’s update, it </span><span>is not surprising that New South Wales and Victoria are faring the best overall.</span><span><br></span></p>
<p><span>Compared with 12 months ago, the number of loans for construction and purchase of new homes increased in five out of eight states and territories in November 2016. The fastest annual growth occurred in Tasmania (+28.4 percent), followed by Queensland (+20.0 percent), South Australia (+11.0 percent), New South Wales (+9.9 percent), and Victoria (+9.6 percent). The number of loans for new housing fell in November in the Northern Territory (- 57.9 percent), the Australian Capital Territory (-23.3 percent), and in Western Australia (-9.5 percent). </span></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/01/17/Screen%20Shot%202017-01-17%20at%202.12.29%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="https://www.urban.com.au/images/2017/01/17/Screen%20Shot%202017-01-17%20at%202.12.29%20PM.png" alt=""></span></p>
<p> </p>
<p><em>Harley Dale is chief economist at the Housing Industry Association and can be contacted <a href="https://hia.com.au" target="_blank">here</a>.</em></p>
</div>
</div>
</div>
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jchancellor-FAypfDUnLy

New house lending turns in strong result: HIA's Harley Dale

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">GUEST OBSERVER</div>
<div class="column"> </div>
<div class="column">New council approvals to build houses or apartments are volatile on a monthly basis.</div>
<div class="column"> </div>
<div class="column">But overall the amount of building is still hovering near record highs. But there was a new ingredient in the mix in September – a sharp lift in commercial building approvals.</div>
<div class="column"> </div>
<div class="column">While not disclosed by the Bureau of Statistics, the project boosting the total seems to be the $2 billion Crown Sydney resort that includes retail, entertainment and hotel accommodation components. While just one – albeit big – project, it still adds to demand for labour and materials and will support building activity through to 2020.</div>
<div class="column">
<br>The sharp price gains for iron ore and thermal and coking coal point to higher incomes in Australia and higher tax revenues for the Federal Government. The higher prices reflect stronger Chinese economic activity, especially a resurgence in residential building. In terms of coal, a reduction in Chinese coal output has served to boost import demand and prices. But overall the news is good for Australian resource regions and good news for the Federal Budget.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%201.39.26%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%201.39.26%20PM.png" alt=""></div>
<div class="column">
<br>As the Reserve Bank noted yesterday, consumer and business confidence levels are above longer-term averages. Low interest rates, rising real incomes and solid confidence levels should support spending in the lead up to Christmas.</div>
<div class="column">
<br>The National Fiscal Outlook neatly presents in one place the position of Commonwealth and State Government finances. There are no major surprises and nothing to spook rating agencies. Infrastructure spending is up, expenses are down and lower revenues reflect slower nominal economic growth. But to some extent the document may already be ancient history. The economy is picking up pace, higher commodity prices will boost government coffers and inflation looks to be lifting from lows. </div>
<div class="column">
<br>Australian government debt is set to peak near 19 percent of GDP – one of the lowest debt ratios of major advanced economies. And the path to fiscal surplus remains intact.</div>
<div class="column">
<br>What do the figures show?</div>
<div class="column">
<br>Building Approvals:</div>
<div class="column"> </div>
<div class="column">Dwelling approvals fell by 8.7 percent in September – the fourth decline in five months. In trend terms, approvals fell by 0.6 percent.</div>
<div class="column">
<br>Over the past year 237,822 new homes were approved, just shy of the record high 240,919 in the year to October 2015.<br>House approvals rose by 1.7 percent in September – the first rise in four months. Meanwhile ‘lumpy’ apartment approvals fell by 17.5 percent in September after falling by 2.9 percent in August and rising by 24.1 percent in July.</div>
<div class="column">
<br>Dwelling approvals in September were down by 6.4 percent on a year ago in seasonally adjusted terms but up 2.1 percent in trend terms.</div>
<div class="column">
<br>Dwelling approvals across states and territories in September: NSW (-13.3 percent); Victoria (-15.6 percent); Queensland (-11.7 percent); South Australia (+9.4 percent); Western Australia (+5.6 percent); Tasmania (-4.0 percent).</div>
<div class="column"> </div>
<div class="column">In trend terms, approvals fell by 6.0 percent in the Northern Territory but rose by 15.9 percent in the ACT.</div>
<div class="column">
<br>The value of all commercial and residential building approvals soared by 29.9 percent in September to a record high of $11.8 billion. Residential approvals fell by 4.4 percent with new building down by 4.6 percent while alterations &amp; additions fell by 2.2 percent. Commercial building lifted by 118.9 percent in September to a 7-year high of $5.5 billion.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%201.40.45%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%201.40.45%20PM.png" alt=""></div>
<div class="column">
<br>Fiscal outlook</div>
<div class="column"> </div>
<div class="column">The Parliamentary Budget Office has released the National Fiscal Outlook report. The PBO says Commonwealth net debt will lift to $356.4 billion (18.8 percent of GDP) in 2018/19 compared with $346.6 billion (18.2 percent of GDP) at the 2015/16 mid-year estimate (MYEFO). Net debt is to peak at 19.2 percent of GDP in 2017/18 before improving to reach 17.8 percent of GDP in 2019/20.</div>
<div class="column">
<br>The PBO said: “According to Commonwealth and state government 2016/17 budgets the projected national fiscal deficit from 2015/16 to 2018/19 has deteriorated by $14.9 billion (from a total of $122.3 billion at the time of the mid-year updates to $137.1 billion).</div>
<div class="column">
<br>The deterioration in the projected fiscal outlook from 2015/16 to 2018/19 is due to a downward revision in projected revenue of $18.1 billion along with an upward revision in net capital investment of $2.8 billion, partially offset by a downward revision in expenses of $6.0 billion.</div>
<div class="column">
<br>“Relative to the 2015/16 mid-year fiscal updates, the Commonwealth’s projected fiscal deficit from 2015/16 to 2018/19 has increased by $8.9 billion (from $96.1 billion to $105.1 billion), driven primarily by a decline in projected revenue, partially offset by a reduction in projected expenses and net capital investment.”</div>
<div class="column">
<br>Consumer confidence</div>
<div class="column"> </div>
<div class="column">The ANZ/Roy Morgan consumer confidence rating rose by 0.4 percent to 114.1 in the week to October 30. Confidence is down 1.0 percent over the year but above the average of 112.4 since 2014. Three of five components of the index fell in the latest week:</div>
<div class="column">
<ul>
<li> The estimate of family finances compared with a year ago was down from +9 to +8; </li>
<li> The estimate of family finances over the next year was up from +21 to +26;</li>
<li>  Economic conditions over the next 12 months was down from +0 to -3;</li>
<li>  Economic conditions over the next 5 years was down from +6 to +5;</li>
<li>  The measure of whether it was a good time to buy a major household item was up from +32 points to +35 points.</li>
</ul>
What is the importance of the economic data?</div>
<div class="column">
<br>The Bureau of Statistics' monthly Building Approvals release contains figures on local council approvals to build residential structures such as homes and units as well as commercial premises such as offices and shops. Approval is one of the first stages of the construction ‘pipeline’ and is thus a key leading indicator of future activity. An increase in approvals would point to stronger future activity for construction-related companies.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%201.42.09%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%201.42.09%20PM.png" alt=""></div>
<div class="column">
<br>The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.</div>
<div class="column">
<br>What are the implications for interest rates and investors?</div>
<div class="column"> </div>
<div class="column">The Reserve Bank has received ample justification for its decision to leave rates on hold. The value of building approvals has hit fresh highs and the lift in iron ore and coal prices will serve to lift labour demand, spending and economic activity in resource regions.</div>
<div class="column">
<br>CommSec expects the Reserve Bank to remain on the interest rate sidelines for an extended period. The job market is in decent shape, consumers and businesses remain confident and home building is just shy of record highs. And importantly, inflation is projected to rise over the next two years.<br><br>
</div>
<div class="column"><em>Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.</em></div>
</div>
</div>
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cjames-5S2v74qSNK

Home building numbers hover near record highs: Craig James

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<p>The HIA-COLORBOND® steel Housing 100 Report 2015/16 reveals a fourth consecutive increase in new dwelling commencements for Australia’s largest volume builders, with Metricon topping the latest list.</p>
<p>“This latest rise takes the number of HOUSING 100 starts to a record high, just surpassing the previous peak reached in 2003/04,” said HIA chief economist, Dr Harley Dale.</p>
<p>The total number of HOUSING 100 starts was 69,161 in 2015/16, compared to the previous record of 69,100 in 2003/04 and the ten year high of 68,621 reached in 2014/15.</p>
<p>The report, that ranks Australia’s largest 100 residential builders based on the number of homes commenced each year, found that Metricon Homes was the nation’s number one home builder in 2015/16.</p>
<p>Metricon Homes reported a total of 4,365 starts, of which 3,794 were detached houses and 571 were ‘semi-detached’ dwellings.</p>
<p>These homes were started across Victoria, Queensland, New South Wales, and South Australia.</p>
<p>The second highest ranked builder in 2015/16 was BGC (Australia) with 4,049 housing starts, followed by Harry Triguboff's Meriton Apartments with 3,793 starts.</p>
<p>The HOUSING 100 featured a number of ‘big movers’ in 2015/16.</p>
<p>Nine companies increased their housing starts by more than 200, while a further ten increased their housing starts by between 100 and 199.</p>
<p><a href="https://www.propertyobserver.com.au/images/2016/09/21/Screen%20Shot%202016-09-21%20at%2010.38.17%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2016/09/21/Screen%20Shot%202016-09-21%20at%2010.38.17%20AM.png" alt=""></p>
<p>The biggest mover was MJH Group (+1,034 starts) followed by Metricon Homes (+994 starts).</p>
<p>The HOUSING 100 started 50,507 detached houses in 2015/16.</p>
<p>The nation’s largest 100 builders started 5,697 semi-detached dwellings and 12,957 multi-units.</p>
<p>“A key focus during this record new home building cycle has been on the changing composition of new dwelling supply, particularly the increased volume and share of medium/high density (MHD) dwellings,” noted Harley Dale.</p>
<p>“The latest HOUSING 100 results reflect this changing dynamic of Australia’s new home construction landscape.</p>
<p>“Beyond this year the housing pond becomes muddier - the record level of MHD product in the pipeline provides the Australian economy with an unprecedented degree of uncertainty regarding the timing and magnitude of the down cycle,” concluded Harley Dale.</p>
<p>“The broad brush approach to credit restrictions applied by APRA, together with the cash-grab transaction costs levied by some state governments on foreign investors exacerbate the downside risks to new home construction and therefore the broader domestic economy.”</p>
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jonathanchancellor-7SQnKwU6yx

Metricon tops BGC and Meriton as largest home builder: HIA top 100

<html><body>
<p>Commonwealth Bank of Australia's former head of private banking Adrian Hondros is understood to be taking up the post of chief executive at the homebuilder, Porter Davis. </p>
<p>Hondros will start at the nation's 11th-largest home builder in the new role in October, sources told the Australian Financial Review's Street Talk column.</p>
<p>The Melbourne-based company was founded by Anthony Roberts, David Shergold, and Daniel Stutterd around two decades ago. </p>
<p>Roberts will remain managing director of Porter Davis when Hondros takes the reins.</p>
<p>The company delivers about 1,500 homes annually and in 2016 entered the Queensland market. </p>
<p>Hondros had been with CBA for more than seven years after stints as chief of the HBOS St Andrew's insurance business and at the National Australia Bank. </p>
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