Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<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/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Jobs Growth

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EXPERT OBSERVER
<div>
The Internet Vacancy Index fell by 0.9 per cent in May after decreasing by 0.5 per cent in April. The index is 5.8 per cent higher than a year ago and is still at levels last seen 6 years ago.
Engineering job vacancies rose by 23.7 per cent over the year to May – the strongest performing occupation across Australia. Science Professionals and Veterinarians vacancies are up by 23.5 per cent.
Job advertisements in Western Australia are at 3-year highs, up by 18.0 per cent over the year to May. And vacancies are up by 23.7 per cent in the state’s mining heartland – the Pilbara and Kimberley regions - at 4-year highs.
The job internet vacancies data is a leading indicator of the job market and therefore important for consumer-focussed stocks and companies such as SEEK.
</div>
<div class="x_WordSection2">
<h1>What does it all mean?</h1>
Telco giant Telstra’s announcement that it will reduce 8,000 employee and contractor positions will hog the headlines today. But one company’s struggles in a highly competitive global telecommunications market isn’t necessarily a true reflection of what is occurring more broadly across the evolving Aussie jobs market.
In fact it wasn’t long ago that Australia’s resources sector was in the doldrums following the end of the mining construction boom. Well there is light at the end of the tunnel for Western Australians.
Job vacancies in the West are leading the country and are at 3-year highs. And while Perth ads are the best in 2½ years, most ads are being advertised in our mining heartland, the Pilbara and Kimberley regions. Engineers, labourers and construction workers are in huge demand.
And it’s little wonder. Aussie mining giants BHP and Rio Tinto are hiring workers again after a period of balance sheet consolidation and asset divestment. Profits have rebounded to 3-year highs on the back of rising commodity prices and supply restraints. BHP has recently approved its $2.9 billion South Flank iron ore project with production commencing in 2021. And Rio Tinto plans to start developing its Koodaideri iron ore mine next year.
The mining giants will be building their new mines at a time when Hancock Prospecting is ramping-up its Roy Hill operation, also located in the Pilbara. Hancock has recently lobbed a $390 million bid for Atlas Iron amid increased mergers and acquisitions in the resources sector. 
And in a sign that Australia is employing more people in STEM-related industries, job vacancies have surged by 23.7 per cent and 23.5 per cent for Engineers, and Science Professionals and Veterinarians, respectively over the past year. 
The same can’t be said for Farm, Forestry and Garden Workers with job ads down by 19.6 per cent over the past year.
<h1>What do the figures show? </h1>
Skilled Vacancies
The Department of Jobs and Small Business Internet Vacancy Index fell by 0.9 per cent in May after decreasing by 0.5 per cent in April. The index is 5.8 per cent higher than a year ago and is still at levels last seen six years ago.
Job vacancies decreased in all eight occupational groups in May. The largest falls in vacancies were recorded for Sales Workers and Labourers (both down 1.5 per cent) for a second consecutive month. Technicians and Trades Workers, Clerical and Administrative Workers, and Community and Personal Service Workers also declined (all down 0.7 per cent). Smaller declines were experienced by Professionals (down 0.5 per cent), Managers, and Machinery Operators and Drivers (both down 0.2 per cent). 
Job vacancies fell in five of the states and territories in May: NSW (down 0.9 per cent); Victoria (down 0.3 per cent); Queensland (down 1.1 per cent); South Australia (down 0.2 per cent); Western Australia (up 0.8 per cent); Tasmania (up 0.8 per cent); Northern Territory (up 0.5 per cent); ACT (down 1.4 per cent).
Over the year to May, job vacancies have increased in six of eight occupational groups.The strongest gains were recorded by Professionals (up 11.3 per cent), Managers (up 10.0 per cent), and Technicians and Trades Workers (up 8.5 per cent). Also rising were Clerical and Administrative Workers (up 6.2 per cent), Community and Personal Service Workers (up 4.5 per cent) and Machinery Operators and Drivers (up 4.4 per cent) also rose. But job advertisements decreased for Sales Workers (down 7.3 per cent) and Labourers (down 5.6 per cent).
Job advertisements increased in five states and the two territories over the year to May. Western Australia recorded the strongest rise (up 18.0 per cent), followed by the Northern Territory (up 10.3 per cent) and Victoria (up 8.1 per cent). Tasmania (up 7.2 per cent) and NSW (up 5.3 per cent), ACT (up 3.6 per cent) and Queensland (up 0.4 per cent) all increased. The only fall was recorded in South Australia (down 1.7 per cent).
<h1>What is the importance of the economic data?</h1>
The Department of Jobs &amp; Small Business releases a monthly Internet Vacancy Index. The index is based on a count of online job advertisements newly lodged on three main job boards (SEEK, CareerOne and Australian JobSearch) during the month. The index is the only publicly available source of detailed data on online vacancies, including for around 350 occupations (at all skill levels), as well as for all states/territories and 37 regions.
<h1>What are the implications for interest rates and investors?</h1>
Australia’s employment market is evolving. Job creation has slowed from record highs in January and more part-time jobs are being added due to record female worker participation.
The composition of the workforce is changing, as are broader market influences. Today’s skilled internet job vacancies are near 6-year highs, complementing other leading job indicators such as the ANZ job ads index, which is at 7-year highs.
According to SEEK, skill shortages are emerging in the Mining and Energy, Science and Technology, Trades and Services, and Construction industries over the year to May. The tightening of the labour market should see eventual wage gains in these sectors, gradually boosting inflation.   
CommSec expects official interest rates to remain stable until early 2019.
Ryan Felsman is a senior economist at CommSec.
</div>
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jrobinson-rf4aSBido9

Job advertisements in Western Australia's Pilbara are at three year highs: CommSec

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<img src="https://counter.theconversation.com/content/82317/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Any downturn in the construction industry could trigger job losses to a range of sectors that support the building industry, such as planning, project management, real estate and property services. This threat reveals the risk of relying on building and construction to sustain the economy. 
Since before the global financial crisis, urban economies across the world have relied increasingly on the construction of housing, especially high rise urban apartments, to maintain economic activity. 
Construction has boomed in Australia, especially in Melbourne and Sydney. Migration from overseas and interstate, as well as international student numbers, have so far maintained sufficient demand for city apartments and suburban houses to keep the building boom going.
Nationally the number of jobs in construction has increased from 927,000 in May 2007 to 1,110,400 in May 2017, an increase of 183,400 jobs. Even now, the federal government expects that construction employment will increase by 10.9% in the five years to 2022. 
But this view is at odds with new data. A recent report by advisory firm BIS Oxford predicts that new dwellings construction will fall by 31%, from 230,000 to 160,000 dwellings in Australia, in the next three years. This prediction foreshadows a dramatic decline in construction employment. 
The other jobs construction creates
Construction activity creates employment across the economy. There are jobs in industries that provide input building materials – such as local quarries and forests, sawmills, concrete products manufacturers, steel makers and glass, plastic and metal products manufacturers. There are also jobs created for people working in import firms bringing in materials that might not be made locally, as well as for people who work to store materials and transport them from ports and factories to building sites. Construction generates jobs for people involved in the design and planning of buildings, also those involved in the financing and contracting of construction projects. 
Once the buildings exist, construction creates more jobs in marketing the properties, building inspections, buyers agents, mortgage brokers, real estate agents and the like. After the sale, more jobs are sustained in interior designer, selling furnishings and fittings and appliances, and providing internet connections and utilities. 
The wages earned and taxes paid by these workers then create jobs in other services industries. This includes everything from dentists and personal trainers to bank tellers and public servants. New populations create new demand for supermarkets and schools and hospitals that employ more people. 
The secondary circuit of capital
Following the ideas of French urban theorist Henri Lefebvre, geographer David Harvey famously explained a process called the “second circuit of capital” where building replaces manufacturing as the driver of growth. This secondary circuit soaks up the excess capital sloshing around the world that can’t be invested profitably in the primary circuit of (manufacturing) production. Buildings are built for the purpose of generating profits for developers and investors. 
In places like Melbourne, the secondary circuit has created so many jobs in construction and related industries, that these have become the key drivers of growth. All these jobs are at risk when construction activity stalls. 
David Harvey’s crucial insight was that once economies rely on construction to drive employment, then the entire economy becomes like a giant Ponzi scheme. The only way that employment in a host city can be maintained is to keep building more buildings. 
Harvey argues the principle purpose of building is to generate profit, which means that the building will stop if there are insufficient numbers of buyers, or insufficient buyers willing to pay a price that will generate profit.
If the developers can elect to build elsewhere, in places where returns are higher, the local construction-led system can collapse like a house of cards. The resulting crisis would not be confined to the construction sector but would resonate through all the activities contributing to building or benefiting from the taxes and charges generated by building. 
That pretty much means everybody. Once the cards fall over, not only do employment opportunities decline, but so do property values, as prices adjust to the new reality. 
Some economists recommend creating new infrastructure projects to provide work, to keep the construction sector and material suppliers in business. But they rarely consider the second order effects as the downturn in construction filters through the economy. Most economists would argue that dealing with these secondary effects is best left to market forces. 
This means that as the downturn filters through the economy, jobs will be lost quietly across a range of sectors. The sectors most obviously vulnerable in the event of a downturn in residential building activity will be those that rely on discretionary building-related spending – such as furniture and effects retailing, wholesaling and manufacturing. The impacts on affected households will be no less devastating than for direct building jobs.
<a href="https://theconversation.com/profiles/sally-weller-116519" target="_blank">Sally Weller</a> is Visiting Fellow, Australian Catholic University and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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jchancellor-FAypfDUnLy

The hollow promise of construction-led jobs and growth

<html><body>
GUEST OBSERVER
Australian employment jumped a surprising 42,000 in May, sharply above market expectations for a 10,000 gain, lifting the annual pace from 1.7 percent to 2.0 percent.
This is the third month in a row of very strong jobs growth.
The gain was led by a 52,100 rise in full-time jobs following a decline last month, so the quality of jobs growth has improved but it can be volatile month to month. 
Reflecting the strength in jobs growth, the unemployment rate dropped to 5.5 percent when the market expected it to hold at 5.7 percent. This rate is the lowest in 4 years (since early 2013).
<a href="https://www.propertyobserver.com.au/images/2017/06/15/image003.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/15/image003.png" alt=""> 
The third month in a row of very strong jobs growth may reflect sample rotation issues, which have been a regular cause of consternation with the labour market statistics.
And the jobs data does have a tendency to run hot and cold so we are now due for a weak patch.
But the May jobs data also brings the annual rate of jobs growth more into line with leading indicators of jobs growth (job ads, vacancies and hiring intentions from the NAB survey), which continue to point to solid jobs growth ahead albeit they have exaggerated actual jobs growth since 2014. See the next chart. 
<a href="https://www.propertyobserver.com.au/images/2017/06/15/image004.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/15/image004.png" alt="">
 
Whatever it is, strong jobs growth provides welcome news after a run of soft data for GDP growth, consumer confidence, retail sales and housing related indicators. 
The only problem of course is that underemployment remains very high at 8.8 percent leaving labour underutilisation high at 14.4 percent, albeit down from a recent high of 14.8 percent in February and this will act as an ongoing constraint on both wages growth and consumer spending.
<a href="https://www.propertyobserver.com.au/images/2017/06/15/image012.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/15/image012.png" alt="">
Implications
The RBA no doubt breathed a sigh of relief with today’s jobs data showing unemployment falling to its lowest since early 2013. This will support the RBA in leaving interest rates on hold for now. Nevertheless with numerous other indicators remaining on the soft side – including overall economic growth, consumer spending, non-mining investment, indicators for housing construction and wages growth – our view remains that there is far more risk of another rate cut than a rate hike in the next 12 months. But to see a cut we will likely need to see a faltering in the jobs data.
It’s interesting to note that while the $A pushed up through $US0.76 on the back of the strong jobs data, the share market initially weakened a bit more on the news presumably not liking the idea of a higher $A or less chance of another RBA rate cut.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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soliver-smf6LQXgW9

Relief for the RBA for now: Shane Oliver

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<div class="header clearfix">
GUEST OBSERVER
In the second half of 2016 employment growth significantly overshot our preferred leading indicators.
So we were not surprised, in fact we had been expecting such a shift, that in the first three months of 2016 (slide 5), the ABS reported total employment rising an average of just 5.6k per month taking the annual pace down to around 2 percent yr from the Nov 2015 peak of 3.0 percent yr.
From a significant outperformance compared in our preferred near-term employment indicator, the Westpac Jobs Index (slide 6), employment growth quickly fell to be more in line with it.
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The June Labour Force Survey continued this softer 'trend' with a 7.9k rise in total employment. Westpac was forecasting +10k while the market was expecting +12k. Total employment has lifted 225.0k in the year (or 1.9%yr) and while full-time employment bounced back in the month (+38.4k) and part-time fell 30.6k, annual growth in part-time employment continues to outpace full-time employment (134.4k/3.7 percent yr vs. 90.6k/1.1 percent yr).
We believe that the shift to part-time employment is likely to be more about the sectors are expanding and contracting rather than any significant change to employment arrangements. It is a similar situation for employment by gender with female employment rising 136.2k in the year (2.5 percent yr) compared to the 88.8k (1.4 percentyr) rise in male employment.
It is possible that uncertainty around the Federal election may have held back the employment gains in July.
In addition, the ABS notes that the July outgoing rotational group for the sample has a higher than average attachment to the labour force. If the in group rolling is more average, this could lead to a softer employment print but not necessarily a higher unemployment rate.
So it may be tempting to forecast a soft employment gain, our Jobs Index continues to strengthen suggesting we are in store for a pick-up in employment. Westpac’s July forecast for +25k total employment has the annual rate easing back a touch to 1.8%yr. However, this is more about base effect than the start of a meaningfully softer trend. The participation rate rose 0.1ppt in May to 64.9. Westpac is forecasting the participation to be flat in June (slide 7). 
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Participation did rise through 2015, due in a large part, to rising participation in NSW and, in particular, by females. We have seen a very modest moderation so far in 2016 and the big question for 2016 is can NSW hold this overall higher rate of participation as males participation in that state continues to trend lower? (slide 8).
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Our July forecast for flat participation combined with a solid employment number should be enough to hold the unemployment rate at 5.8%. (slide 9)
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The March and April Labour Force Surveys revealed a cautionary sign in a sudden decline in hours worked but so far, this has not turned into similar downturn in employment (slide 10).
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While hours worked per person, particularly for full-time employees, has weakened in the last year it does appear that the worst as the slide in hours worked has not led a correction in employment. (slide 11).
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The ABS publishes their own measure of unemployment expectations and this lifted through Q1 which was a worry as this can point to a possible rise in unemployment (slide 12).
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However, the Q2 update reveals this as a temporary blip just as the Westpac–Melbourne Institute Unemployment Expectations Index suggested it would be (slide 13). 
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The Westpac–MI Index is pointing to the labour market improving in the near term at least in regards to the unemployment rate (slide 14).
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The Westpac–MI is also useful for gauging how much hours worked may be over/under shooting relative to expectations and thus point to turning points in hours worked momentum. (slide 15) (slide 16).
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Outside of NSW it seems we have passed an inflection point for growth in hours worked. 
Justin Smirk is ‎senior economist, Westpac Group and can be contacted <a href="https://www.westpac.com.au/about-westpac/westpac-group/" target="_blank">here</a><a href="https://wibiq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2016/August/er20160517JulyPreview.pdf">.</a>
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Labour market improving in the near term: Justin Smirk

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<div>A strong +1.6 percent increase in job advertisements in June saw year-on-year vacancies rise very strongly by +11 percent to a total of 169,600, according to the Department of Employment.</div>
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<img src="/images/2016/07/21/Job%20Abs2.jpg" alt=""> <div>Source: Department of Employment</div>
 <div>Total vacancies are now at their highest level in four years, which bodes well for jobs growth picking up. </div>
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<div>Since the peak of the mining boom June 2012, the share of total vacancies located in Western Australia has declined from 15.6 percent to 7.8 percent. </div>
 <div>On the other hand there has been a huge surge in vacancies in New South Wales over the past three years, up by 37.4 percent in trend terms to a massive 91,400 (a record boom). </div>
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<div>Over the past year the percentage growth in vacancies has also been very strong in Victoria, Queensland, South Australia, Tasmania, and the ACT. </div>
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<div>In trend terms all eight occupation groups are strengthening, and over the year job advertisements were up in 33 of the 37 recorded regions. </div>
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<div>The decreases were seen in northern Queensland, Perth, and western Tasmania.</div>
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 <div>The index has its weaknesses, particularly since it doesn't differentiate between full time and part time gigs.</div>
 Nevertheless, all in all, this looks pretty good for jobs growth in the second half of 2016.</div>
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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>. 
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>.
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pwargent-M4siyDbqQY

Job ads up to a four-year high: Pete Wargent

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Treasurer Scott Morrison noted only yesterday that "the rate of unemployment has been under 6 now for some months."
Not any more, based on the January figures released today.
But trend employment has continued to show strong growth, according to figures released by the Australian Bureau of Statistics (ABS) today. 
"The trend shows that around 302,000 more people were employed in January 2016 than in January 2015 and full-time employment growth was a bit stronger than part-time growth over the year, increasing by 169,800 people," General Manager of ABS' Macroeconomic Statistics Division, Bruce Hockman said.
The increase in employment has contributed to the trend employment to population ratio rising over the year from 60.7 per cent to 61.4 per cent, while the unemployment rate decreased over the year from 6.2 percent to 5.8 percent.
Over the past month, trend employment increased by 19,800 persons to 11,909,900 persons, which equates to a monthly growth rate of 0.17 per cent. 
This growth rate was slightly above the monthly average over the past 20 years (0.15 per cent), and continues the recent trend in relatively strong employment growth.  
The trend series smooth the more volatile seasonally adjusted estimates and provide the best measure of the underlying behaviour of the labour market.
The seasonally adjusted number of persons employed decreased by 7,900 in January 2016, while the number of persons unemployed increased by 30,200. 
The seasonally adjusted unemployment rate for January 2016 was 6.0 percent (up 0.2 percentage points) and the seasonally adjusted labour force participation rate was unchanged at 65.2 percent.
The ABS seasonally adjusted monthly hours worked in all jobs series increased by 10.9 million hours (0.7 per cent) to 1,656.0 million hours.
Westpac noted the rise in the unemployment rate to 6% may give the RBA a reason to pause and consider their assessment of the labour market. 
"In the most recent Statement on Monetary Policy they stated that the unemployment rate had fallen below 6% and was likely to stay there. 
"While one month is not a trend we would suggest that today’s print would make them a little less confident in that assessment," Westpac noted.
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Unemployment at 6 percent unexpectedly in early 2016

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GUEST OBSERVER
Today's Australian jobs numbers surprised a little to the downside, with a drop of -5k jobs in September (market had +10k), while the unemployment rate was steady and in line with expectations at 6.2%.
The unemployment rate has now been broadly steady between 6.0-6.4% for the past 16 months. The official labour market numbers are broadly in line with other surveys, including job advertisements, vacancies and hiring intentions, which have all shown a gradual improvement in labour demand since their trough in early 2014.
This gradual improvement is consistent with the RBA's own forecasts. We expect the RBA to be on hold in coming quarters.
Facts
Employment fell by -5.1k in September (market and HSBC expected +10k). Over the past six months, employment growth has averaged +15k a month. Annual employment growth was unchanged from August, at 2.0% y-o-y.
The participation rate fell by 0.1ppt to 64.9%. The recent trough in participation was 64.5% in October 2014.
The unemployment rate was unchanged at 6.2%, in line with expectations and also exactly where it was one year ago. The unemployment rate has been between 6.0% and 6.4% for the past 16 months, during which time the trend unemployment rate has been steady at 6.1-6.2%.
Total hours worked lifted by 0.7% in September, with annual growth rising to 2.5% y-o-y. This is the fastest pace of growth since the year to October 2011.
Implications
Although the monthly jobs print was weaker than expected (-5k), the unemployment rate is still continuing to track sideways, rather than rise. Looking through the month-to-month volatility, these numbers suggest continuation of the status quo. The labour market has stabilised but there is not quite enough momentum to get the unemployment rate to fall.
Given recent measurement challenges in the official numbers it is also important to put them in the context of the full range of jobs indicators (see charts below). These measures are showing a broad trend of gradual improvement in labour market conditions.
 Job advertisements rose in September, continuing the upward trend that has been apparent since early 2014. The ABS quarterly job vacancies survey shows a similar trend and continued to rise in Q3. Both of these surveys are showing gradual improvement, although the pace is slower than in previous cycles. 
The consumer sentiment survey has also recently shown a sharp fall in households' expectations of unemployment. This suggests that the labour market is not a key constraint on households' spending decisions. 
From the RBA's perspective, today's numbers are unlikely to be surprising. Along with other indicators, they confirm that the labour market is stabilising, consistent with the RBA's own forecast for a steady unemployment rate in coming quarters. 
 
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<a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">Paul Bloxham</a> is chief economist (Australia and New Zealand) for HSBC. Daniel Smith is economist, HSBC.
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