Rockdale has long been characterized as a suburb on the cusp. Well-located, well-connected, but historically underserved by modern apartment offerings.

It has everything going for it: outstanding connectivity to the Sydney CBD, just four train stops to Central Station, strong local amenity anchored by Roc​kdale Plaza and a growing main-street dining scene, and enviable proximity to Brighton-Le-Sands. The six-kilometre beachfront is lined with bayside restaurants, cafés, and walking paths, giving residents a lifestyle typically associated with much more expensive coastal suburbs.

What Rock​dale has lacked is high-quality contemporary apartments. Most existing developments date back several decades, with floorplans that no longer support modern living needs, and buildings constructed long before today’s standards in engineering, efficiency, and sustainability.

Lender, fund manager and apartment developer Princeton identified the gap early. Seeing all the right ingredients in Rockd​ale, transport, lifestyle, retail, and affordability, they set out to deliver what the suburb was missing. Their answer is <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, a collection of 58 one-, two-, and three-bedroom apartments now nearing completion just a short walk from Ro​ckdale Plaza, home to over 50 specialist retailers and anchored by&nbsp;Woolworths, Big W and Aldi.

[smartcode_project:default project_id=136442 project_image_fid=355216]

Understanding they would be resetting the benchmark for the area, Princeton focused on ensuring buyers received best-in-class quality, longevity, and protection.

A major step was securing the sought-after Latent Defects Insurance policy from Resilience Insurance. This policy protects apartment buyers from structural or waterproofing defects for the first 10 years of the building’s lifecycle. Crucially, it is first-response insurance, meaning that if an issue arises, the insurer pays immediately for remediation—rather than waiting for lengthy investigations to determine fault before work can begin. For purchasers, it offers an unprecedented layer of security rarely seen in Sydney apartment projects.

During construction, independent building inspection firm SDSS has been providing Technical Inspection Services, bringing highly specialised construction experts on-site at key stages to ensure workmanship meets the highest standards. The project is being built by Coplex, an iCIRT-rated construction company, and throughout the build SDSS has frequently referred to <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a> as one of the best projects currently on their books.

Princeton also doubled down on comfort, acoustics, and livability.&nbsp;As well as being the only building along Princes Highway with a landscaped buffer between the building and the road, Princeton has purposefully included double-glazed windows in all apartments to reduce noise.

Apartments feature double-glazed, noise-reducing windows and ducted air conditioning in every residence.&nbsp;In addition to the project’s transport convenience, Princeton has partnered with GoGet Car Share to provide a dedicated GoGet vehicle housed permanently within the building. Residents will receive a free annual GoGet membership, paying only usage fees, offering a flexible alternative to owning a second car and enhancing the project’s sustainability credentials.

[smartcode_project:default project_id=136442 project_image_fid=277075]

Residents will enjoy an exclusive rooftop oasis, purpose-designed as an extension of their living space. The communal rooftop includes BBQ facilities and outdoor entertaining areas, a&nbsp;pergola-shaded dining zone, a dedicated children’s play space, and a landscaped herb garden.

Princeton and Coplex is approaching completion of <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, and are expecting residents to move in early in the new year. The mix of apartment configurations and price points have been a hit with young professionals, those who need to commute to the CBD, and families who appreciate doorstep amenity.

“Marque is a place where residents will be proud to call it home," Princeton Head of Development George Young says.

"We’ve worked really hard with Coplex and our design team to deliver an incredible building for the future home owners to make their own. The homes are all designed to allow the residents to make it their own, a place to belong and live a stylish urban life."

[smartcode_project_cta:default project_id=136442]

Joel Robinson

Marque Rockdale sets a new standard of apartment living in Sydney's south

Plans to revitalize the&nbsp;long-established Benowa Gardens Shopping Centre into a mixed-use community combining living, shopping, dining, health and wellbeing facilities, have been proposed to the Gold Coast City Council.

The Benowa Gardens Urban Village proposal by Benowa Gardens Holdings seeks to transform the 17,660 sqm site at <a href="https://www.apartments.com.au/new-apartments/203-ashmore-road-benowa-qld-4217">203 Ashmore Road</a> into a contemporary, sustainable destination that reflects global trends in modern community design while retaining the familiar local character residents value.

The site is bordered by Ashmore and Benowa Roads and Carrara, with ready access to Pindara private hospital, four schools, TAFE, sports fields and the nearby Botanic Gardens.

Benowa Gardens Holdings is seeking a preliminary Council approval only for its proposed masterplan and variations to the site’s Neighbourhood Centre zoning.&nbsp; 
Formal Public Exhibition commenced Friday and also marks the start of comprehensive community consultation with surroundings residents, schools, P&amp;Cs, existing retailers, nearby sporting clubs, arts groups and Botanic Gardens volunteers.

Designed by Neylan Architecture, the masterplan envisions around 413 new apartments, complemented by upgraded retail, dining, and wellness amenities as part of 10,000 sqm of retail, and 9,630 sqm of office space/medical suites.

The development will feature green open spaces, shaded promenades, landscaped terraces, pedestrian walkways, and expanded healthcare and lifestyle services in synergy with the neighbouring Pindara Private Hospital and local schools.

<img alt="Benowa" data-entity-type="file" data-entity-uuid="244f4d54-2e67-4141-92b8-78d5735f47c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2012.47.34%E2%80%AFPM.png?VersionId=FmF5lzhpwVZc7POsdB770TJ_Bf2c0od8" />

“This concept embraces the way people increasingly want to live - safely, conveniently, and within strong local communities,” said Patrick Lu, Director of Benowa Gardens Holding.

“Benowa Gardens will set a new benchmark for integrated living on the Gold Coast. It’s a thoughtful, community-minded evolution that brings global best practice in urban design to one of the city’s most established areas.”

Lu said this isn’t just a redevelopment, it’s a renewal with purpose.

“Benowa Gardens has served the community for decades. Our goal is to ensure it continues to do so for generations to come, as a lively, connected Urban Village where people can truly live, work and thrive. We’re already talking to school leaders and the community to seek their feedback on our proposal, and have taken on board their ideas to improve student safety with additional “traffic calming” measures on Carrara Street. We’re conducting meaningful and sincere consultations and want to play our role in preserving and enhancing the local community."

The proposed redevelopment aims to deliver tangible benefits across the Benowa and wider Gold Coast community, including:

<ul>
	<li>Improvement of retail amenity, to capture the under-served local market demand and keep the local business at their local shopping centre.</li>
	<li>Housing diversity; offering a range of apartment types for key workers, downsizers, and local families who wish to remain in the area.</li>
	<li>Enhanced shopping and dining; revitalised retail spaces designed to support local businesses and attract more visitors.</li>
	<li>Health and wellbeing access; additional medical and wellness amenities to complement existing local facilities.</li>
	<li>Improved traffic flow and access; two new access points, upgraded intersections, upgrade pedestrian pathway’s signal and proposed upgrade of pedestrian and cycle connections/space to improve safety and convenience, especially for school children.</li>
	<li>Environmental sustainability; energy-efficient design, green rooftops, and water-sensitive landscaping to reduce emissions and enhance comfort.</li>
	<li>Local jobs and investment; supporting hundreds of construction and long-term roles while stimulating local economic growth.</li>
</ul>

The group behind the project boasts extensive experience in the property development industry, both in Australia and international markets. Over the past 23 years, the group has been involved in the development and management of a diverse portfolio of assets including residential dwellings, shopping centres, bulky-goods stores, community and medical facilities, childcare centres, offices, hotels, and taverns, across Brisbane, Ipswich, and the Gold Coast.

Benowa Gardens to become new mixed-use urban village

Demand for townhouses in Melbourne’s inner west has surged as buyers seek the elusive combination of space, affordability, and location.&nbsp;

With family-first apartments increasingly rare and standalone homes often out of reach, townhouses have emerged as the new sweet spot, delivering generous living areas with lower maintenance needs within close proximity to the Melbourne CBD.&nbsp;

<a href="https://www.apartments.com.au/new-townhouses/kings-lane-south-kingsville-50-58-new-street-south-kingsville-vic-3015">Kings Lane</a>, the new under-construction townhouse development by the family-owned developer&nbsp;<a href="https://www.apartments.com.au/developers/blue-run">Blue Run</a>&nbsp;in South Kingsville, responds directly to this trend. Comprising just 25 residences designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project offers a compelling alternative to both apartment downsizers and family upsizers. With three-bedroom homes priced under $1 million, it presents one of the area’s rare attainable pathways to townhouse living less than eight kilometres from the CBD.

[smartcode_project:default project_id=145042 project_image_fid=355147]

<a href="https://www.apartments.com.au/developments/south-kingsville-vic-3015">South Kingsville</a> itself is quietly becoming one of Melbourne’s most dynamic pockets of urban renewal. Flanked by the established appeal of Yarraville, Newport and Williamstown, the suburb balances quiet, village-like streetscapes with major infrastructure upgrades and a growing slate of retail, dining and lifestyle amenity.&nbsp;

Kings Lane occupies a well-connected site at 50–58 New Street, just off Blackshaws Road and within walking distance of the emerging Union Quarter precinct, a major retail destination anchored by Woolworths, specialty food outlets and wellness services.

A 400-metre stroll brings residents to the Vernon Street shops, a local favourite known for its mix of independent grocers, cafes and family-run eateries. For broader shopping options, Altona Gate Shopping Centre and Yarraville Square are both within a short drive. Spotswood IGA and the Williamstown retail strip further broaden the convenience of daily essentials.

[smartcode_project:default project_id=145042 project_image_fid=355139]

Dining options in the area lean toward eclectic and community-driven, with standouts like Rocco’s Deli, Dad and Dave’s, and Pizza d’ASPORTO offering a range of casual and elevated menus. Cafés such as Hudson Road Wine &amp; Beer and Blacksheep Coffee add to the lively yet local feel of the neighbourhood.

Green space is another hallmark of life at Kings Lane. Edwards Reserve is close enough for morning walks or casual sport, while larger parks like Newport Lakes, Yarraville Gardens, and Cruickshank Park are all a few minutes’ drive away. More than half of the nine-hectares of new green space or parkland being created as part of the West Gate tunnel works is located just at the end of New Street, the same street as Kings Lane.

&nbsp;

For those with school-age children, South Kingsville is home to a range of quality childcare centres and schools, including Kingsville Primary, Spotswood Primary, and Williamstown North Primary. Community Children’s childcare and South Kingsville Preschool are nearby, making the suburb particularly attractive to young families.

Transport links continue to improve, with Spotswood Station and the West Gate Freeway both within a five-minute radius. Future upgrades, including the proposed sky rail for Newport and Spotswood, and the delivery of the West Gate Tunnel project, promise even better access to the CBD and Melbourne Airport in the years to come.

Kings Lane's 25 all-electric townhouses are currently under construction, and will complete in late 2026.

[smartcode_project_cta:default project_id=145042]

Staff Writer

Kings Lane townhouses offers rare value in Melbourne's thriving inner west

Developer-builder <a href="https://www.apartments.com.au/developers/billbergia">Billbergia</a> has set a new apartment price record for <a href="https://www.apartments.com.au/developments/rhodes-nsw-2138">Rhodes</a>, a suburb the company has been instrumental in transforming over the past two decades.

The milestone follows the delivery of thousands of apartments across the harbourside peninsula, culminating in the $4.5 million sale of a 220 sqm penthouse in the <a href="https://www.apartments.com.au/buildings/rhodes-central-oasis-39-marquet-street-rhodes-nsw-2138">Rhodes Central Oasis</a> building, which Billbergia completed earlier this year. It is the first apartment in Rhodes to surpass not only the $4 million mark for settled sales, but also the $3 million mark, eclipsing the previous $2.75 million record set in 2021.

The purchaser had originally secured several apartments in the 40-storey tower off the plan as investments. During settlement, she spent more time in the Rhodes area and was so impressed with the building that she decided to downsize from her Northbridge home into the four-bedroom plus MPR penthouse.

The sale underscores the long-term work Billbergia has undertaken in Rhodes since the early 2000s. The company, rated 4.5 Gold Stars under the NSW iCIRT system, identifying it as one of the state’s most trustworthy and financially secure developers, was a pioneer of the area’s urban renewal. What was once a heavily industrial waterfront has become one of Sydney’s most successful examples of transit-oriented development.

<img alt="Billbergia" data-entity-type="file" data-entity-uuid="56093d7f-db18-42f4-bf9b-115bdf76f5f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2011.10.06%E2%80%AFAM.png?VersionId=pca77Mr.H83nwXbJexmaLUAqBewtQ7d9" />

Billbergia is now driving the peninsula’s next major evolution: the most ambitious project in its nearly four-decade history. They are planning the Rhodes Bay Masterplan, an eight-tower, mixed-use precinct on Leeds Street. Currently with the NSW Government’s Housing Delivery Authority which is now championing large-scale projects across the state, the Rhodes Bay Masterplan lays the groundwork for a generational reshaping of this important pocket of Sydney’s Inner West.

The masterplan spans more than 31,000 sqm of amalgamated industrial land along the foreshore, land that has been privately held and inaccessible to the community for more than a century. According to Billbergia’s Development Director, Saul Moran, reclaiming this land for public use is central to the company’s vision. 
 
“What’s so exciting is that we have over 300 metres of privately-held industrialised waterfront, land that’s been locked away for more than 100 years, which we’re bringing back to the community,” he says. “It’s taken many years to assemble sites like these, and the goal now is to transform them into meaningful public space where new homes can be built in an integrated, amenity-rich setting.”

At full completion, the Rhodes Bay Masterplan is expected to deliver over 2000 apartments, with the first 1000 to be completed by 2029. Billbergia’s design focused on nine slender towers, so they could give back more to the ground plane. There will be more than 16,000sq m of new parkland and recreation space, including sports fields, a foreshore play area and waterfront green links. Around 14,600 sqm of retail is also proposed, extending the precinct’s role as a true mixed-use hub.

<img alt="Rhodes Bay" data-entity-type="file" data-entity-uuid="240ffc41-4f26-421a-9606-5c56f6fc2d93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2011.05.48%E2%80%AFAM.png?VersionId=BkBxZr7S8CAt1vgNa8AF3zjdc3YuVh0L" />

“Density only works when it’s paired with amenity, transport and open space, and that’s what’s made Rhodes such an amazing success story,” Moran says, adding that the demographic shift Billbergia has seen over the last two decades has informed their future development pipeline in the suburb.

“Rhodes has moved from being largely an investor market to a strong owner-occupier community,” Moran says. “There’s real demand for three-bedroom homes, flexible intergenerational layouts, and apartments people can grow into.”

&nbsp;“We’re designing taller, more slender towers to free up the ground level for sport, recreation and green space. High-density communities thrive when people have the best backyards in Australia, and that’s what we want to create here.”

Demand remains robust, evidenced by Billbergia’s recent results. “We achieved a record sale across the entirety of Rhodes Central just last week,” Moran says. “It shows the depth of confidence buyers have in what’s being built here.”

Billbergia’s vertically integrated model allows them to overcome the recent cost escalation and challenges in the build environment. “Having an in-house construction team lets us control feasibility, value management and quality from day one,” Moran says. “It’s critical in the current market, where construction escalation is at the forefront of every project’s viability.”

The company is also leveraging the NSW Government’s new Housing Delivery Authority process, which Moran describes as a more efficient pathway without compromising design standards. 
 
“We’re really applauding the NSW Government for its efforts to increase housing supply. There’s been a remarkable improvement in how they’re helping deliver more homes, more quickly.”

Billbergia has already commenced construction of Stage One of the Rhodes Bay masterplan. They will be lodging the State Significant Development Application before Christmas.

“We’re moving quickly, but with due care,” Moran says. “This is a generational precinct, and it needs to be done right.”

Billbergia smashes suburb record as Rhodes transformation continues

The sheer scale of the two skyscrapers at <a href="https://www.apartments.com.au/new-apartments/victoria-albert-broadbeach-20-albert-avenue-broadbeach-qld-4218">Victoria &amp; Albert</a>, soaring 40 and 64 storeys above the heart of Broadbeach, was always destined to deliver some of the highest and most luxurious apartments ever built in the suburb.

Now, builder-developer <a href="https://www.apartments.com.au/developers/iris-capital">Iris Capital</a> has unveiled the Horizon Collection, a selection of residences with the largest floorplans and most commanding views in the towers. The three-bedroom apartments, starting from $4.64 million, include butler’s pantries, multi-purpose rooms, and, in some layouts, master retreats with private sitting areas.

[smartcode_project:default project_id=107928 project_image_fid=3944]

The most prestigious apartments in the Horizon Collection are the sub-penthouses and penthouses. The two sub-penthouses on the 38th level of the Albert Tower are priced at $8.85 million.

Each features three bedrooms, a study, and a flexible multi-purpose room with a sliding partition that allows half the space to function as a games room.

The open-plan kitchen, living, and dining area, complete with a butler’s kitchen and private wine cellar, flows onto a full-width balcony framing panoramic coastal views.

[smartcode_project:default project_id=107928 project_image_fid=3943]

There is now just one sub-penthouse for sale on the 62nd level of the Victoria Tower, with one already secured by an expat owner-occupier. The remaining sub-penthouse, priced at $8.95 million, offers four bedrooms and a wraparound balcony that captures panoramic views up and down the Coast. vistas from every angle.

Crowning each tower is a full-floor penthouse offering multiple expansive indoor and outdoor living and entertaining spaces. Atop the Victoria building is Oceania, which measures over 735 sqm of living space, and Kurrara atop the Albert Tower, which is almost 800 sqm. They each have four bedrooms, including a master and guest suites, a full 360-degree panorama of the Gold Coast, and all the bells and whistles expected of a luxury penthouse. They are priced from a little over $18 million.

“Every detail, every finish has been thoughtfully considered to imbue the penthouses with the ultimate sense of luxury,” says Susan Rossi, Director of Interior Design at <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, who led both the architecture and interiors for V&amp;A. “We shaped these skyhomes to embody the spirit of Gold Coast luxury.”

[smartcode_project:default project_id=107928 project_image_fid=234091]

Victoria &amp; Albert, colloquially known as V&amp;A, is the flagship Gold Coast development by the Sydney-based Iris Capital. Led by developer and hotelier Sam Arnaout, Iris Capital acquired the landmark Niecon Plaza site in 2021. At the time, Arnaout described the company’s expansion into Queensland as a strategic move to capitalise on one of Australia’s strongest growth markets.

“We were initially looking to expand into Victoria, but the massive migration to the regions that followed the pandemic created a new dynamic across the Australian market,” Arnaout said.

“From a strategic point of view, Queensland — and the Gold Coast in particular — is the perfect fit for our business. The fundamentals here are strong: genuine employment growth, high net migration, and an undersupply of apartments driven by strong demand. The Gold Coast has matured into a thriving, progressive regional city with a fantastic future.”

[smartcode_project:default project_id=107928 project_image_fid=234097]

Across its two towers, V&amp;A will deliver 425 luxury apartments, supported by a suite of resort-style resident amenities. These include a subtropical podium featuring a 25-metre lap pool, gym, yoga deck, residents’ lounge, kids’ play area, zen garden, and barbecue terraces with outdoor dining spaces.

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> Queensland Director David Higgins, who has managed sales at V&amp;A since its 2021 launch, says the project has set a new benchmark for Broadbeach’s luxury apartment market. Colliers Queensland Director David Higgins, who has managed sales at V&amp;A since its 2021 launch, says the project has set a new benchmark for Broadbeach’s luxury apartment market.

“The premium market has definitely spoken, with V&amp;A having now reached over half a billion dollars in presales since our launch,” Higgins says, adding that over 65 per cent of V&amp;A is now sold.

“Our buyers continue to validate the success of the Victoria &amp; Albert development vision and the luxury amenity that comes along with their apartment purchase. Of course, Broadbeach’s most walkable location, just 100m from the Broadbeach surfing beach, makes this luxury apartment a compelling addition to your real estate portfolio.”

Last year, Iris Capital brought construction in-house through its new arm, Iris Built. Completion of the 40-level Albert Tower is scheduled for late 2027, with the 64-level Victoria Tower, the taller of the two, expected to follow in mid-2028.

[smartcode_project_cta:default project_id=107928]

Victoria & Albert’s Horizon Collection takes Broadbeach living to new heights

Intention

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EXPERT OBSERVER
Consumer confidence continues to improve in September. Sentiment has lifted in four of the past five weeks.
Importantly, households are showing increased appetite for making a major household purchase.
In fact, the ANZ-Roy Morgan sub-index measure of whether it was a ‘good time to buy a major household item’ rose by 5.3 per cent to 1.8 points last week – the highest level since late June.
‘Stay-at-home’ Aussies have shown a strong desire to upgrade their homes during the pandemic. CBA credit and debit card spending on household furnishings and equipment over the week to September 11 is up 28 per cent on a year ago. And annual spending is above 30 per cent across all states and territories except Victoria (up 6.1 per cent).
Post-lockdown retail spending has been boosted by greater mobility, government payments and superannuation withdrawals. And household savings and potential tax cuts – along with closed international borders – could see pent up demand from consumers even as stimulus is tapered into year-end.
What do the reports and figures show?
Consumer sentiment – Week ended September 13
The weekly ANZ-Roy Morgan consumer confidence rating rose by 1.4 per cent to 92.4 (long-run average since 1990 is 112.6). Confidence has lifted in four of the past five weeks. Sentiment is up by 41.5 per cent since hitting record lows of 65.3 on March 29 (lowest since 1973).
Four out of five of the major components of the index rose last week:
The Commonwealth Bank (CBA) credit card data – Week ended September 11
According to Commonwealth Bank (CBA), card spending in the week to September 11 was up 4.7 per cent on a year ago, compared to a 5.2 per cent lift for the week ended September 4. Online spending rose 17.4 per cent on a year ago (previous week: +21.9 per cent), but in-store spending was down 0.6 per cent (previous week: -2.1 per cent). Victorian card spending fell by 11.3 per cent on a year ago (previous week: ‑10.3 per cent), but Tasmanian spending was up 16.4 per cent (previous week: +18.2 per cent) compared to a year ago.
CBA noted, “Annual spending growth in all jurisdictions broadly tracked sideways over the past week. Spending on eating and drinking out has firmed over the week. In‑store spending is edging higher nationally and in Victoria it looks to have passed the trough.”
The Commonwealth Bank (CBA) Household Spending Intentions Series (HSI): August
According to the CBA, “The impact of the stage 4 lockdowns in greater Melbourne throughout August are clearly evident in the CBA Household Spending Intentions series for the month. The improvement seen during July in Home Buying, Retail, Travel, Entertainment and Education spending intentions all stalled in August. Health and Fitness spending intentions picked up in August, while Motor vehicle spending intentions continued to edge higher.”
On home buying intentions: “Home buying spending intentions for August retreated from their July highs. While there was a further increase in home loan applications, Google searches related to home buying declined slightly on the month.”
On retail spending intentions: “Retail spending intentions pulled‑back in August, consistent with our high‑frequency CBA credit/debit card spending data.”
On travel spending intentions: “The recovery in Travel spending intentions stalled in August, impacted by the restrictions imposed in Victoria.”
On health &amp; fitness spending intentions: “Health &amp; fitness spending intentions picked up in August. While actual spending was a little lower on the month, Google searches related to health saw an increase.”
On entertainment spending intentions: “Entertainment spending intentions pulled‑back a little in August, led lower by declines in food (eating out) and alcohol spending on licenced premises.”
On education spending intentions: “Education spending intentions were little changed in August, with some softness in spending and in Google searches for the education sector.”
On motor vehicle purchase intentions: “Motor vehicle spending intentions picked up in August and are back in positive territory for the first time since the start of the Covid‑19 pandemic.”
Kepler index of retail sales activity – Week ended September 13
The Kepler index of retail sales reported that aggregate sales fell by 13.2 per cent last week (September 13) to be down 26.9 per cent on the year. Average transaction value rose 0.1 per cent last week to be up 22.6 per cent on a year ago. Passer-by traffic fell 1.9 per cent last week to be down 52.6 per cent on the year. The weekly store shut down rate rose to 29 per cent (prior week: 27 per cent) with Victoria’s rate at 87 per cent.
OpenTable restaurant reservations – Week ended September 13
Australian restaurant reservations were down 9 per cent on September 13 from a year earlier, firmer than the 40.7 per cent drop recorded on September 6, according to OpenTable. Sit down diners fell by 99.7 per cent in Victoria (previous: -99.9 per cent), but were up by 61.6 per cent in Queensland (previous: up 146 per cent) and up 35.2 per cent in NSW (previous: +127 per cent).
Moovit change in public transport demand – Week ended September 13
Demand for public transportation – as measured by the urban trip planning app Moovit – was mixed over the week to September 13 (compared with the pre-pandemic level of January 15) from a week earlier in most of Australia’s biggest cities:
<ul>
<li>Sydney &amp; NSW: -43.7 per cent (previous week: -43.3 per cent)</li>
<li>Perth: -32.7 per cent (previous week: -36.5 per cent)</li>
<li>Brisbane &amp; South-East Queensland: -41.5 per cent (previous week: -41.1 per cent)</li>
<li>Melbourne &amp; Victoria: -83.1 per cent (previous week: -83 per cent).</li>
</ul>
What are the implications for investors?
Consumer confidence continues to improve due to increasing mobility in virus ‘free’ states and territories. Outside of Sydney and Melbourne, Aussies are more confident about going about their daily activities with the virus all but supressed. The notable weakening in sentiment last week in the two biggest cities and virus ‘hotspots’ – Melbourne (down more than 5 per cent) and Sydney (down over 3 per cent) – suggests that consumer caution remains elevated, weighing on the broader economic recovery.
Next week’s standout data release will be much-anticipated preliminary retail trade figures for August. The CBA Household Spending Intentions survey released today suggests that retail spending intentions pulled back in August. High frequency weekly CBA card spending and the Kepler Analytics retail gauge also imply a decline in spending during the month. Of course, Melbourne entered stage 4 lockdown restrictions in August with Victorian retail spending adversely impacted by social distancing measures and temporary retail store closures. But greater mobility in the ‘virus free’ states and territories are supportive of consumption and could yet offset the decline in Victorian spending.
RYAN FELSMAN is a Senior Economis at CommSec
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j.ballantyne1990-6AQqhLzZaK

Consumer spending intentions hit 11-week high: CommSec's Ryan Felsman

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The latest monthly data from the Commonwealth Bank Household Spending Intentions (HSI) Series indicates that home buying spending intentions are running at a record rate. 
CBA Chief Economist Michael Blythe said, "there are some early signs of a ‘wealth effect’ from the housing market supporting spending on motor vehicles, albeit from a very low level, as well as travel and entertainment."
This means the pick-up in dwelling prices in the second half of 2019 will continue into the first half of this year, and the residential construction downturn should be approaching bottom.
“Past cycles show that leading indicators like building approvals turn about three month after home buying intentions start to lift. A bottoming in the construction cycle would remove a major growth drag on the economy, and also helps retailing," Mr Blythe said.
Noting that retail HSI remained low, Mr Blythe commented, “the flat trend in the retail HSI remains a disappointing outcome relative to the stimulus applied via interest rate cuts, tax rebates and the upturn in dwelling prices. The zig-zag pattern for the retail HSI indicates that the ‘Black Friday’ event brought forward spending from December into November without necessarily boosting spending overall."
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Home buying intentions have reached a record high: CBA

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The latest data from the Commonwealth Bank Household Spending Intentions (HSI) series released today shows the sharp increase in home buying intentions is continuing.
CBA’s Chief Economist Michael Blythe said, “The sharp upswing in home buying intentions continues and intentions are now approaching the record highs seen in early 2017.”
Current HSI readings are consistent with an ongoing increase in dwelling prices and a bottoming out in residential construction activity.
“The ongoing improvement in the home buying intentions series indicates that the low point for residential building construction will probably be around mid 2020,” he added.
Mr Blythe said retail spending intentions show a modest improvement is in place.
“The latest edition of the Commonwealth Bank HSI series, which incorporates data to the end of October, supports the RBA’s view that the economy has reached a ‘gentle turning point’. But the improvement is quite modest given the size of tax rebates and interest rate cuts delivered in recent months,” Mr Blythe said.
“By fuelling fears about the economic outlook, rate cuts are probably blunting some of the potential boost from tax rebates and rising house prices,” he added.
Mr Blythe also noted that trends in some non-retail spending look reasonably encouraging.
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Home buying intentions approaching boomtime levels: CBA

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New research has identified a sharp decline in the number of home buyers intending to take out a home loan.
The data from Roy Morgan shows that in the three months to October 2018, 1.21 million people said that they intended to take out a home loan in the next 12 months. This represents a decline of 260,000 or 17.7% from the 1.47 million recorded over the same period last year and is a major challenge to banks in achieving new lending volumes over the coming 12 months.
These are the latest findings from Roy Morgan’s Single Source Survey (Australia) which is based on in-depth personal interviews conducted face-to-face with over 50,000 Australians per annum in their own homes, including details on over 2,500 people who intend to take out a home loan in the next 12 months.
2018 shows deteriorating level of intentions 
In the January quarter 2018, the level of home loan intentions was a very positive 7.3% of the population, representing 1.48 million people. This deteriorated significantly in the April quarter to 6.3% (1.29 million), a decline of 190,000 or 12.8%. The July and October quarters in 2018 fell further to 5.9% (1.21 million), representing an overall decline of 17.7% since the October 2017 quarter.
Intention to take out home loan in next 12 months
<a href="https://www.propertyobserver.com.au/images/2018/11/19/home%20loan%201.png" target="_blank">Click here</a> to enlarge
<img src="https://www.urban.com.au/images/2018/11/19/home%20loan%201.png" alt="">
Source: Roy Morgan Single Source (Australia). 15 months to October 2018, n = 62,413. Base: Australians 14+.
First home borrowers a drag on intention levels
The reason that home loan intention levels have fallen over the past year is due to the decline in first home intenders. In the October 2018 quarter only 411,000 first home borrowers intend to take out a loan in the next 12 months, this is down by 44.5% on the 740,000 recorded a year earlier.
The largest group currently of intenders are those existing borrowers who plan to switch their home loan to a different provider. This segment accounts for 549,000 people or 45.4% of all intenders and has held steady, having recorded 544,000 at the same time last year.
The biggest gain over the last 12 months was in the group that have had a loan in the past but wish to move and take out a loan. They number 249,000 currently, an increase of 64,000 or 34.6% over the year
Intention to take out home loan in next 12 months – By type of intender
<a href="https://www.propertyobserver.com.au/images/2018/11/19/home%20loan%202.png" target="_blank">Click here</a> to enlarge
<img src="https://www.urban.com.au/images/2018/11/19/home%20loan%202.png" alt="">
Source: Roy Morgan Single Source (Australia). 3 months to October 2017, n=12,054; 3 months to October 2018, n=12,327.
Base: Australians 14+.
Norman Morris, Industry Communications Director, Roy Morgan says: 
“The decline in home loan intenders over the last year is likely to have a major impact on banks in the coming year, particularly as the drop has come from first home buyers who are major generators of increasing volumes. The reduction in first home buyers is likely to come from a number of potential reasons, including uncertainty as a result of declining housing values, likely interest rate movements, mortgage stress and job risks. 
“The current high level of negative publicity given to borrowing by the Finance Royal Commission is also likely to be impacting on both the supply and demand for home loans. The potential for the tightening of lending criteria and issues relating to mortgage brokers are just some of the likely issues to have a negative impact in this market.
“Data used in this release covers only a small part of what is available from Roy Morgan regarding understanding home loan borrowers and those who intend to borrow in the near future. To find out more regarding long term trends, brands and in-depth profiling, simply ask Roy Morgan.”
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