Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

National

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Insolvency firm Ferrier Hodgson has raised concerns that the improvement in residential construction may not be “long enough and strong enough” to allow downstream construction businesses to recover from financial damage suffered over the past two years.
The total number of new dwellings commenced rose 8.2% in the December quarter in seasonally adjusted terms, following a fall of 0.6% in the September quarter, Australian Bureau of Statistics figures out last week showed.
The number of new houses started in the December quarter of 2013 was up 4.2% in seasonally adjusted terms compared with the previous year, while units were up 20.6%.
However, the seasonally adjusted number of new dwelling starts was still below the previous peak in 2009, which preceded a slump in construction activity that lasted until early 2012.
Ferrier Hodgson noted that while initial signs were promising, the recovery had been patchy and construction businesses would need to monitor where growth was occurring and consider chasing work outside of their local area.
“A national construction-led recovery doesn’t necessarily mean the construction work will be spread evenly around the country and will almost certainly not be driven out of the hotspots of the last boom,” Ferrier Hodgson said in a report.
The Housing Industry Association noted that while NSW and Western Australia had driven much of the recovery in construction to date, there had been only a modest number of dwelling commencements in each of those states during the December quarter.
Victoria contributed most to growth in dwelling starts in the December quarter with commencement numbers up 11.3%. Activity in Queensland also grew strongly, with dwelling starts up 15.8%.
Ferrier Hodgson said downstream businesses such as landscapers, cabinet makers and manufacturers of household products could expect a lag of up to 24 months before they saw the benefits of increased residential construction.
Numerous construction-related businesses went under during the downturn in construction, and smaller businesses would continue to struggle to meet ongoing fixed costs through a prolonged downturn and long recovery, the liquidation firm said. 
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zfielding-GvX3Uq9KTa

Construction recovery may not be “long enough and strong enough” for related businesses

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There are just the handful of Easter weekend metropolitan auctions across Melbourne this weekend.
Most of the auction activity is on the coastline, with a few special offerings topped by one in Point Lonsdale.
It's the auction of the landmark Point Lonsdale cottage, Samarai (pictured above), one of the most charming beachfront reserve property’s along the Victorian Coast.
Imagine all the sea changers who love the 1998 ABC series who will be wanting to snap it up.
The Ramsay family's Edwardian home is set on 1,100 square metres, last sold in the mid-1980s when bought from the Wortley's for around $240,000. 
It's been offered <a href="https://www.realestateview.com.au/Real-Estate/149-point-lonsdale-road-point-lonsdale/Property-Details-buy-residential-6827429" target="_blank">through Damian Cayzer at Kerleys Coastal Real Estate</a> who could easily expect $3.5 million plus.
Other Victorian coastline offerings include 60 Frimmell Way, Portsea marketed as an affordable charming cottage style offering through Little Residential.
But not that much on offer in the typical Easter auction hotspot of the Mornington Peninsula.
There is an Easter Saturday offering through RT Edgar of <a href="https://www.realestateview.com.au/Real-Estate/12-greenwood-avenue-sorrento/Property-Details-buy-residential-6895905" target="_blank">the Lake House, at 12 Greenwood Avenue, Sorrento</a> (pictured below), a large Rosenthal, Munckton and Shields-designed home on 1300 square metres.
<img src="/images/2014/04/17/sorrento%20april%2017%20one.jpg" alt="">
Then on Easter Sunday, Liz Jensen at Kay &amp; Burton has <a href="https://www.realestateview.com.au/Real-Estate/4-webster-street-sorrento/Property-Details-buy-residential-6590945" target="_blank">Saltaire</a>, a contemporary five bedroom beach house (pictured below).
<img src="/images/2014/04/17/sorrento%20april%2017%20two.jpg" alt="">
A Ron Dennehy-built Torquay offering comes with $850,000 plus hopes.
Paynesville is the busiest locality with John H Castran having some eight listings. They are mortgagee auctions, under instructions from Gippsland Secured Investments Ltd, receivers and managers appointed. Lot 6 Driftwood Close Paynesville is 346 square metres and includes a boat house. 
Not just on the coast but Dinner Plains in the mountains has an auction. <a href="https://www.realestateview.com.au/Real-Estate/3-5-burrinjuck-lane-dinner-plain/Property-Details-buy-residential-6849967" target="_blank">It too is a mortgagee auction of a three level three bedroom two bathroom townhouse</a> (pictured below).
<img src="/images/2014/04/17/dinner%20plain%20april%2017.jpg" alt="">
The limited Melbourne metropolitan offerings include: 
Harcourts 10 Davington Court, Wantirna
Ray White Greensborough 57 Margaret Street, Research 
Ray White 1/20 Shankland Bvd, Meadow Heights
Wilson Partners 12:00 3/59Stanley Street, Wallan.
Neil Tan, research assistant at Australian Property Monitors says there are around 40 auction offerings across Sydney, plus Property Observer is aware of numerous coastal offerings in NSW including Terrigal and Yamba.
There are three auctions scheduled for Yamba including 40 Yamba Street Yamba, billed as a building site totalling 499 square metres with a R3- Medium Density Residential zoning.
The current two bedroom residence, while basic, is quite liveable.
"We’re thinking around the $500’s," the marketing by Yamba Iluka agent Warren Tucker suggested.
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jchancellor-FAypfDUnLy

Samarai, Point Lonsdale tops limited coastal Easter auctions

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Auction volumes were high across the capital cities, with Sydney breaking all time record.
There were a total of 3,491 capital city auctions held across Australia last week, up from 2,692 over the previous week. With auction volumes at the highest levels seen so far this year, clearance rates increased from 66.2% over the previous week to 68.9% last week with Sydney driving the strong clearance rate.
As mentioned a couple of weeks ago, we had expected auction volumes to peak before the Easter break as the next couple of weeks are likely to be pretty quiet on the auction front.
At the same time last year, the final auction clearance rate was recorded at 61.8% with 1,410 capital city properties having been taken to auction.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Capital-city.jpg" target="_blank"><img class="alignnone size-full wp-image-3108" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Capital-city.jpg" alt="20140413 Capital city" width="990" height="722"></a>
There were 1,471 auctions held across Sydney last week, which means auction volumes have risen by nearly 30% when compared to the previous week when there were 1,137 Sydney auctions.
Despite this jump in auction volumes, the total number of auctions in Sydney was slightly less than in Melbourne over the week; however it was a record high for the city. Sydney’s preliminary clearance rate was resilient last week, despite the increased volumes, recorded at a sturdy 78.5%, compared to 73.2% over the previous week and just 67.2% at the same time last year, when there were 529 auctions held across the city.
At this stage, we expect just 392 Sydney auctions to be held over the coming week, with most of these occurring prior to Friday.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Sydney.jpg" target="_blank"><img class="alignnone size-full wp-image-3110" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Sydney.jpg" alt="20140413 Sydney" width="1004" height="659"></a>
A preliminary clearance rate of 64.2% was recorded last week in Melbourne from 1,143 auction results compared to 63.6% recorded the previous week and 66.5% at the same time last year.
This weekend brings to a close the busiest first quarter for auctions in the city’s history. Compared to this time last year there have been 58% more auctions held. For the next two weeks the market will see significantly reduced volumes with Easter and Anzac Day causing many vendors to have already had their auctions or wait.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Melbourne.jpg" target="_blank"><img class="alignnone size-full wp-image-3109" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Melbourne.jpg" alt="20140413 Melbourne" width="1002" height="656"></a>
In terms of an increase in auction volumes over the week, Brisbane was the stand out last week, with auction volumes almost doubling. There were 236 residential properties taken to auction in Brisbane last week and the preliminary auction clearance rate was recorded at 45.7%, compared to a final auction clearance rate of 52.8% over the previous week when there were 123 Brisbane auctions. At the same time last year, just fewer than 100 auctions were held across the city and the clearance rate for the week was recorded at a 36.4%.
Last week was the second week so far this year where there have been more than 230 Brisbane auctions over the week. To put that into perspective, the average number of weekly auctions held over 2013 was 137, while so far this year, there has been an average of just under 150 auctions per week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Brisbane.jpg" target="_blank"><img class="alignnone size-full wp-image-3107" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Brisbane.jpg" alt="20140413 Brisbane" width="994" height="649"></a>
Adelaide’s preliminary clearance rate for last week was recorded at a strong 73.8%, up from 62.1% over the previous week. Much like most of the other concentrated auction markets, Adelaide saw volumes increase over the week from 98 to 144. At the same time last year, Adelaide’s clearance rate was a lower 47.4% across the 63 properties that were taken to auction.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Adelaide.jpg" target="_blank"><img class="alignnone size-full wp-image-3106" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140413-Adelaide.jpg" alt="20140413 Adelaide" width="990" height="649"></a>
Despite the overall increase in auction volumes over the week, there were three cities (Canberra, Darwin and Hobart) where the number of properties taken to auction last week was actually lower than the preceding week.
Taking a quick look around the cities, Perth’s clearance rate was almost unchanged last week at 33.3% across 55 auctions, Hobart saw a clearance rate of 50.0% with 16 auctions held across the city, Canberra had 50 auctions and a preliminary clearance rate of 65.5% and so far, one Darwin property has been reported as having successfully sold at auction.
RP Data is tracking just 590 auctions over the coming week with many of these auctions (just over 500) scheduled prior to the Easter weekend.
Melbourne auction commentary provided by Robert Larocca, RP Data’s Victorian housing market specialist.
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smiller-vwPjRHTkST

Sydney's strength lifts clearance rates: RP Data's national auction market wrap

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Sydney and Melbourne have recorded record auction results for the autumn period, ahead of an expected <a href="https://www.smartcompany.com.au/finance/investment/41315-pre-easter-auctions-rush-means-falling-clearance-rates-and-buyers-spoilt-for-choice" target="_blank">wind-down over the Easter break</a>.
Australian Property Monitors senior economist Andrew Wilson told SmartCompany buyers and sellers in both Sydney and Melbourne should be pleased with the weekend’s results, with clearance rates up almost 5% in Sydney to 78.1%, and up 0.6% in Melbourne to 72.3%.
Wilson said Sydney’s clearance rate has now dipped below 80%, after more than two months above the level.
“This is no real surprise given the high number of listings,” Wilson says. The weekend’s results are based on 1,111 listings, 697 auctions and 581 properties sold, compared to 821 listings, 709 auctions and 570 sales last week. Nevertheless, Wilson says it could be sign of a slight downwards trend in the Sydney market.
The most expensive property sold in Sydney was a four bedroom house in Lane Cove on Sydney’s lower north shore, which was sold for $4.9 million. The most affordable property was a studio apartment in Surry Hills, which fetched $220,000 at auction.
In Melbourne, 1,277 properties were listed, 944 auctions held and 686 properties sold. This compares to 1,007 listings, 898 auctions and 654 properties sold the week before. “It was the best result in a month,” says Wilson.
A three-bedroom house in Toorak was the most expensive property sold at $2.7 million, while a house of the same size in the western suburb of Kurunjang was the most affordable at $235,000.
However, Melbourne may also be following in Sydney’s footsteps, with Wilson saying there are a number of negative aspects of Victoria’s economy that are acting as a drag on the capital city’s clearance rate, which has been falling since the Labour Day weekend in early March.
Wilson said the weekend’s results will give the market “pause for reflection over the next two weeks before it all starts up again”, although the market typically quietens over the winter months.
Click here for the full list of APM's 12 April weekend auction results for Sydney, Melbourne, Brisbane and Adelaide.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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jake-cSmGT7VXVf

Bumper property pre-Easter weekend with record auction results

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Recently released data from the Australian Bureau of Statistics (ABS) shows that as at June 2013, the rate of population growth in Australia’s capital cities was significantly greater than that of regional markets.
Perth topped the charts as the city to consistently record the fastest rate of population growth with 395,000 new persons moving to Perth between 2006 and 2013. However in raw number terms, the increase in population has been much greater in Melbourne and in Sydney.
Between 1991 and 2013 Sydney added an additional 1,084,169 residents, Melbourne 1,153,248, Brisbane 826,621, Adelaide 198,141 and Perth 746,243.
As at June 2013, ABS reported that almost two out of every five Australian’s (39.4%) lived in either Sydney or Melbourne, however, the proportion of Australian’s living in Sydney or Melbourne fell slightly from 1991 (39.7%). This is largely due to a rising prominence of Brisbane and Perth as population centres.
In 1991, 21.3% of Australian’s lived in Sydney, 18.5% in Melbourne, 8.2% in Brisbane and 7.1% in Perth. By 2013, 20.6% of Australian’s lived in Sydney, 18.8% in Melbourne, 9.7% in Brisbane and 8.5% in Perth. Despite the declining prominence of Sydney, the proportion of Australian’s living within our four largest cities has increased from 55.0% in 1991 to 57.6% currently.
<img src="/images/2014/04/10/kusher-april-10-foru.gif" alt="">
The rising prominence of Brisbane and Perth as population centres has really emerged over recent years. Obviously the resources sector boom has driven this to some extent with escalating demand for professionals working and associated with this sector.
Darwin was the only other capital city to record an increase in its overall proportion of the national population over the period, shifting from 0.5% in 1991 to 0.6% in 2013.
Adelaide recorded the largest decline in its proportion of population over the period across the capital cities, falling from 6.3% of the national population in 1991 to 5.6% in 2013.
Sydney and Melbourne continued to be the most significant population centres however; Melbourne is catching Sydney quite quickly. In 1991, 3,672,914 persons lived in Sydney and 3,194,707 in Melbourne, a gap of 478,207 persons. By 2013, the gap had reduced to 409,128 persons.
During the same period, regional Queensland was the only regional market to record a greater increase in population than within the capital city. Over the period, Brisbane's population increased by a total of 826,621 persons compared to an 869,231 increase in Regional Queensland’s population.
The surge in population across Regional Queensland is linked to the growth in those markets directly adjacent to Brisbane, Gold Coast and Sunshine Coast.
Regional Queensland’s population has increased due to the ‘sea change’ phenomenon which has seen significant migration and development along the state’s coastal communities.
Over the year, the ABS reported that Australia's population increased by 1.8% with capital city regions recording population growth of 2.1% over the year compared to a 1.2% annual increase in regional population.
<img src="/images/2014/04/10/kusher-april-10-three.gif" alt="">
From 1995 onwards, capital city populations have consistently increased at a faster rate than those in regional areas. In June 1991, 64.6% of all Australian’s lived within a capital city and by June 2013 the proportion had risen to 66%.
Almost two thirds (66.3%) of all Australian’s live within a capital city, up from 64.6% in 1991.
Based on the ABS results, Australian’s are showing an ongoing preference to live in capital cities rather than regional markets. This is largely due to job security found in the cities.
With home values rising at a much faster rate in Sydney and in Melbourne than in other capital cities it will be interesting to see over the coming years if we see an outflow of population from Sydney and Melbourne to other more affordable capital city housing markets such as Brisbane and Adelaide.
Of course a key driver of any shift away from Sydney and Melbourne will be providing well-paid jobs and a high quality of life while ensuring that housing remains relatively more affordable than it is within Sydney and Melbourne.
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ckusher-ujnxiKuFQs

Capital cities' job security remains attraction for population growth

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The housing market, in at least Sydney, Melbourne and Darwin, has seen growth recently, and it's causing a knock-on effect, according to the ANZ Research team, with developer confidence now picking up.
However, they also said that it would be the mining states that record the most pronounced growth rate for gross state product in the coming years.
All non-mining states saw growth rates strengthen in the second half of 2013.
Cherelle Murphy, Dyslan Eades, Tony Morris and Zoe McHugh, from ANZ Research, recently provided a market analysis that pointed to five factors lifting the growth rates and outlooks in all states and territories.
THE FIVE FACTORS
<ol>
<li>Improved global economic conditions 
</li>
<li>Low interest rates 
</li>
<li>The lower Australian dollar 
</li>
<li>Better business confidence 
</li>
<li>Better consumer confidence</li>
</ol>
"The mining states, which are on the cusp of an export expansion, will continue to record the strongest growth rates over the coming years in our view. But the non-mining states are expected to improve most compared to the growth rates recorded over the past few years," they recorded.
Interestingly, they also noted that the convergence in growth rates between the states is as expected.
"The mining states are coming off very strong economic performances as the resources construction pipeline dries up, while the non-mining states are steadily firming."
MINING STATES
Queensland: Major LNG projects still under construction, recording high activity levels.
Western Australia: More advanced through resources contruction work, seeing a more rapid slowdown.
Northern Territory: The exception, seeing a boost from INPEX Ichthys LNG Project.
NON-MINING STATES
New South Wales: The best performer, with trend unemployment falling to 10 month low (5.5%) in March. Business conditions have picked up.
Victoria, Tasmania: Sluggish but recently improving outlooks. More exposed to manufacturing, which continues to shrink. Business conditions have picked up.
South Australia: Sluggish but recently improving outlooks. More exposed to manufacturing, which continues to shrink.
Australian Capital Territory: Sturdy, but "will shortly bear the brunt of the not yet wholly known Commonwealth fiscal tightening."
All states, they noted, saw a sharp pick-up in housing market activity "related in part to the expansionary setting of monetary policy," they noted.
<blockquote>
FIVE FACTORS LIFTING GROWTH RATES
IMPROVED GLOBAL ECONOMIC CONDITIONS
LOW INTEREST RATES
THE LOWER AUSTRALIAN DOLLAR
BETTER BUSINESS CONFIDENCE
BETTER CONSUMER CONFIDENCE
</blockquote>
"Prices have bounced off their lows and have risen especially sharply in Sydney, Melbourne, and Darwin. This has translated to an improvement in developer confidence, with residential building approvals rising strongly, implying dwelling investment is likely to contribute solidly to growth going forward," they said.
Among all the non-mining dominated states and territories, the non-mining business investment is not forecasted to see any notable improvement until next year.
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jduke-EHk3XBmHkn

Mining states expected to see strongest growth rates over coming years: ANZ Research

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Across the March quarter, the national median weekly asking rent for houses increased by a subtle 0.2%, with unit rents increasing by 1.7%, however the picture is mixed across the country, explains Australian Property Monitors’ latest statistics.
<img src="/images/2014/04/10/apm-chart-april-10-one.gif" alt="">
<img src="/images/2014/04/10/apm-chart-april-10-two.gif" alt=""> 
Source: Australian Property Monitors 
SYDNEY
National housing rents for the year ending March saw Sydney retain strength as the most expensive major capital for tenants, with median weekly asking house rent over the March quarter sitting at $500, and units at $490, explains APM’s senior economist, Andrew Wilson. As discussed yesterday, Sydney’s expensive rental market will come as no surprise to anyone looking to live there.
Despite this, Sydney’s house rents have remained flat for 12 months, “indicating underlying affordability barriers constraining rental growth,” said Wilson.
Sydney unit rents, however, continue to rise driven by the affordability advantages of units over houses and the growing preferences for apartment living and inner–city locations. Based on current trends, unit rents will be on parity with house rents sooner rather than later in 2014.”
MELBOURNE
Pointing to the recent rend of rising house rents, Melbourne has seen some of the best performance of all the capital cities – up 4.1% over the year, with the March quarter seeing a 1.3% increase.
“Melbourne unit rents have staged a revival after a lengthy period of subdued growth,” he said.
“Despite March quarter increases in rents, Melbourne remains relatively affordable for tenants with only Adelaide recording lower rents of all the mainland capitals.”
BRISBANE
However, the picture differs when looking at Brisbane, where the market was weaker over the March quarter, with house rents staying flat and unit rents actually dropping by 1.3%.
“Over the year ending March 2014, no growth was recorded in unit rents, however, house rents rose by +2.6%. Significant numbers of new inner city apartments continue to place downward pressure on rental growth,” said Wilson of the yearly statistics.
Note: Wilson explained that in Sydney, Melbourne and Brisbane, a low number of first home buyers could be responsible for creating some demand-based rental pressure, however increased supply with investor activity and new apartment building should impact rental growth in these cities.
Rental yields also have some interesting implications across Brisbane, Melbourne and Sydney. In the latter two capital cities, yields remain the lowest of all capitals for units and houses, however Melbourne appears to see some increases in yield suggesting weakness in price growth for inner city apartments. Brisbane, however, provides the highest gross rental yield of all the major capitals.
ADELAIDE
Currently, Adelaide is the most affordable of all mainland capitals, with subdued rental growth over the March quarter. In fact, over this period house rents fell by 1.4% and units remained flat.
PERTH
In Perth, the quarter recorded flat rents for house and units, as the “market continues to adjust after the unsustainably strong rental growth seen in the first half of 2013,” he said.
“House rents in Perth are now down by -2.0% over the year with no growth in unit rents,” said Wilson.
DARWIN
Despite flat rents for houses and unitsover the March quarter, a 7% increase over the year ending March was recorded.
HOBART, CANBERRA
Flat or falling rents for houses and units were recorded over the March quarter.
 <img src="/images/2014/04/10/apm-chart-april-10-three.gif" alt="">
<img src="/images/2014/04/10/apm-chart-april-10-four.gif" alt="">
Source: Australian Property Monitors
Further mixed results for all capital cities are expected through 2014, as price growth moderates in most capitals, explained Wilson.
“Choppy capital city rental market performances over the March quarter reflects, to some degree, the uplift in home buying activity which was driven by sharp improvements in housing affordability over the past year,” he said.
“With prices growth likely to accelerate this year, expect increased house investor activity although yields may weaken.”
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Melbourne and Sydney show strength, as rest of the country’s rents dip

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Can anyone explain the absence of rental growth in our major markets?
Are we not suffering from a housing shortage crisis, with an accumulated undersupply of hundreds of thousands of dwellings?
Can the economists who speak constantly of this dwelling shortage explain how three of our eight capital cities recorded declines in house rentals in the March quarter, while four others recorded no growth?
Can the Housing Industry Association, the great champion of the shortage theory, explain why four of the capital cities recorded marked declines in apartment rentals, while two others recorded no change?
Do the laws of supply and demand no longer apply to residential property, such that Perth, Canberra and Hobart now have house rentals lower than a year ago (6% lower, in the case of the national capital), Sydney and Darwin have recorded zero growth, and only one city has recorded annual growth of more than 3%.
<blockquote>
The only capital city experiencing a boom worthy of the name is Sydney – which was overdue after a decade of under-performance.
</blockquote>
Out of eight capital city house markets and eight apartment markets, there is only one instance of solid annual growth in median asking rents – a 7% rise in Darwin’s apartment market.
Otherwise, according to the March Quarter Rental Report from Australian Property Monitors, it’s a story of stagnation or decline in residential rents in the capital cities.
This result, which is similar to the outcomes with rental reports from previous quarters stretching back to 2012, runs counter to the notion of shortages.
It’s also inconsistent with the idea of a national property boom, with markets rising as “a blistering pace”, as the ABC’s News 24 morning program misinformed us recently.
And speaking of research evidence that makes nonsense of claims about market performance, I continue to disbelieve the notion of a booming Melbourne market and I note similar sentiments expressed by SQM Research managing director Louis Christopher this week.
Christopher’s research on the number of residential properties listed for sale in each of the capital cities shows there are exceptionally high levels of supply available in Melbourne.
Melbourne currently has about 44,500 residential properties listed for sale. To put that into perspective, Sydney has only 24,200 properties listed.
This can be explained, partly at least, by the extraordinarily high levels of inner city apartments being marketed.
Christopher writes, “There are no new trends that have come out of the data this month - other than we note that Melbourne still has an elevated amount of listings in the market and so this has made us sceptical of recently-reported large increases in dwelling prices for that city.
“There is also further evidence that Melbourne vendors overall have struggled to lift their asking prices.”
Notions that the Melbourne market is rising strongly have been created by rubbery figures from the Real Estate Institute of Victoria and the rude haste with which RP Data spits out statistics under the “publish and be damned” principle.
In my view, the only capital city experiencing a boom worthy of the name is Sydney – which was overdue after a decade of under-performance.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

If the market's so hot then where's the rental growth?

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Across Australia, it's not a secret that rent has generally been ticking upwards - much to the dismay of renters - with revealingly stronger growth in some areas than others.
The latest Australian Bureau of Statistics details show that Western Australia is the state that has grown more than any other, with a 77% uptick from 2006 to 2011. In 2006, it was recorded at $170 per week, however in 2011 it was noted as $300.
Speaking of growth in the statistics, the ABS director of rural and regional statistics, Lisa Conolly, said that while Western Australia overall grew the most, the area with the biggest uptick was in Queensland.
This was a terrifying headline figure of 570% growth over the period in Weipa, in Queensland's far north, and the picture overall looks fairly drab on the surface for renters.
<blockquote>
Rental costs increased from $191 in 2006 to $285 in 2011 - an increase of 49%. Mortgage repayments have increased 39% during this time.
</blockquote>
"Rental costs have also increased by twice as much as wages with the median weekly household income increasing from $1,027 in 2006 to $1,234 in 2011, up 20%," she explained.
However, Conolly said that it wasn't quite the unexpected drastic growth, for Weipa at least, that the figure suggests.
"Local government areas in Western Australia recorded some of the biggest growth in median rent payments in Australia, with eight out of the 10 fastest growing regions located in Western Australia. However, Weipa, in far north Queensland, came in at the top, reflecting a change from employer owned housing to private rental arrangements," recorded Conolly.
Despite this, in what will come as a surprise to almost no one, it remains local government areas (LGA) in Sydney that record the highest rent. And, as can be attested by the overwhelming 'red' on all of the zoomed in capital cities, it's costly to rent in Australia's capitals.
 
LGAs with the highest rent: (Note: the suburb linked to each LGA is that closest to the relevant council chambers. For more specific suburb data, you can use our free data tool here) 
New South Wales and ACT
<img src="/images/2014/04/09/nsw.jpg" alt="">
<ul>
<li>
<a href="/news">Ku-ring-gai</a> - $575 per week 
</li>
<li>
<a href="/news">Woollahra </a>- $550 per week</li>
</ul>
The LGA in New South Wales with the fastest growth over the period was <a href="/news">Gwydir</a>, and it was noted that while areas outside of the capital city had lower overall rental payments, they showed the most significant growth over time.
The ACT was noted as having the highest median rent overall across Australia - recorded at $380 per week. The<a href="/news"> Queanbeyan</a> area grew from $185 per week in 2006 to $289 per week in 2011, a 56.2% increase.
Western Australia
<img src="/images/2014/04/09/wa.jpg" alt="">
<ul>
<li>
<a href="/news">Cottesloe</a> - $450 per week 
</li>
<li>
<a href="/news">Perth</a> - $440 per week</li>
</ul>
The fastest growth costs in Greater Perth occurred in <a href="/news">Serpentine-Jarrahdale</a>, which doubled from $155 per week to $306 per week, or a 99.4% rise, however it is noted that the LGA has one of the highest proportion of home ownership (with a mortgage) areas across the country, with just 14.7% rentals.
Victoria
<img src="/images/2014/04/09/vic.jpg" alt="">
<ul>
<li>
<a href="/news">Melbourne</a> - $400 per week 
</li>
<li>
<a href="/news">Bayside</a> - $390 per week</li>
</ul>
The LGA across the state with the fastest growth was <a href="/news">West Wimmera</a>, despite maintaining a lower rent than other LGAs. In Greater Melbourne, <a href="/news">Maribyrnong</a> saw the fastest recorded growth with a 64.7% increase to $280 per week from $170 per week.
Queensland
<img src="/images/2014/04/09/qld.jpg" alt="">
<ul>
<li>
<a href="/news">Brisbane</a> - $350 per week 
</li>
<li>
<a href="/news">Gold Coast</a> - $350 per week 
</li>
<li>
<a href="/news">Redland</a> - $350 per week</li>
</ul>
In Greater Brisbane, <a href="/news">Somerset</a> was one of the fastest growing, rising 60% to $240 per week, from $150 per week.
Northern Territory
<img src="/images/2014/04/09/nt.jpg" alt="">
<ul>
<li>
<a href="/news">Darwin</a> - $360 per week 
</li>
<li>
<a href="/news">Palmerston</a> - $360 per week</li>
</ul>
The LGA with the fastest growth across the territory was <a href="/news">Palmerston</a>, which grew 89.5% over the recorded period.
South Australia
<img src="/images/2014/04/09/s.jpg" alt="">
<ul>
<li>
<a href="/news">Adelaide</a> - $320 per week</li>
</ul>
The fastest growing LGAs across South Australia included <a href="/news">Peterborough</a>, and <a href="/news">Southern Mallee</a>, which both saw a 66.7% uptick, while in Greater Adelaide it was <a href="/news">West Torrens</a>, 54.4% growth to $247, from $160 per week, that took out the growth record.
Tasmania
<img src="/images/2014/04/09/tas.jpg" alt="">
<ul>
<li>
<a href="/news">Kingborough</a> - $275 per week</li>
</ul>
The fastest growing LGA in Tasmania was in the <a href="/news">Central Highlands</a> and the <a href="/news">Tasman</a>, with a 60% uptick. In Greater Hobart, <a href="/news">Brighton</a> rose 58.1% to $185, from $117 per week.
 
Conolly reminded viewers of the statistics that the cost of renting in a region can change due to a number of factors.
These may include:
<ol>
<li>Workforce demand</li>
<li>Population growth or decline</li>
<li>Changing tenure arrangements</li>
</ol>
"Nationally, rental costs increased by more than mortgage repayments with the median weekly household rent rising from $191 in 2006 to $285 in 2011 - an increase of 49%. Whereas mortgage repayments have increased 39% during this time," she said.
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Revealed: The areas with the highest rent across the country

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There were 2,669 auctions held across the combined capital cities last week, having fallen from 3,039 over the previous week.
While volumes were down when compared to the previous week, it is expected that this coming week will change that with auction volumes set to rise by 23%. Last week the preliminary auction clearance rate was recorded at 67.3% across the capital cities, compared to a final auction clearance rate of 67.7% the previous week.
At the same time last year, there were 1,308 capital city auctions and the final auction clearance rate was recorded at 61.7%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Capital-city.jpg" target="_blank"><img class="alignnone size-full wp-image-3082" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Capital-city.jpg" alt="20140406 Capital city" width="1003" height="729"></a>
In similar fashion to previous weeks, Sydney has recorded the strongest capital city auction clearance rate at 75.4% based on preliminary collection. There were 1,124 auctions held across the city last week, compared to 1,163 the previous week when the final auction clearance rate was recorded at 75.9%.
It is probably a good time to make mention of the fact that we have noticed over the past few weeks that we are seeing some downward revision each week when Sydney’s final results are being calculated. This is more than likely due to the reporting culture of auctions, where agents hold off on reporting their successful auction until they can confirm that no after auction result has been obtained. Over the same week last year, there were 528 Sydney properties taken to auction with 66.4% of these recording a successful result.
While Sydney’s auction market showed significant strength over the first quarter of 2014, it is interesting to see that this aligned with overall market performance. According to the RP Data-Rismark Daily Home Value Index, Sydney dwelling values increased by 4.4% over the March 2014 quarter. Based on the most recent weekly update, across the private treaty market, Sydney homes are currently selling at the fastest rate of any capital city.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Sydney.jpg" target="_blank"><img class="alignnone size-full wp-image-3084" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Sydney.jpg" alt="20140406 Sydney" width="1000" height="654"></a>
For Melbourne there were 1,204 auctions across the city last week with a preliminary clearance rate of 63.4% recorded from 960 auction results compared to 66.9% recorded last weekend and 63.2% this weekend last year. Over March 2014 the clearance rate was 69.9% from 5,322 auctions.
House and unit values are definitely rising but the high auction volumes are continuing to provide buyers with increased opportunity which is also likely contributing to a lower clearance rates as buyers have a greater number of auction properties to choose from.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Melbourne.jpg" target="_blank"><img class="alignnone size-full wp-image-3083" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Melbourne.jpg" alt="20140406 Melbourne" width="1002" height="651"></a>
Last week across the Brisbane auction market we saw conditions improve with the preliminary auction clearance rate recorded at 57.9%, with 122 Brisbane auctions held over the week.
Despite the strengthening clearance rate, last week was a sharp fall in Brisbane auction volumes after the busy week prior when there were 238 auctions held and a clearance rate of 47.1%, however, over the coming week volumes are set to ramp up again, with 218 Brisbane auction scheduled so far.
When we look at the Brisbane auction market at the same time last year, there were significantly less auctions (92) while the clearance rate was recorded at 49.3%, which is generally on par with the current market performance.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Brisbane.jpg" target="_blank"><img class="alignnone size-full wp-image-3081" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Brisbane.jpg" alt="20140406 Brisbane" width="996" height="653"></a>
There were 98 Adelaide properties taken to auction last week, with the preliminary clearance rate coming in at 67.3%, compared to the previous week when the final clearance rate was recorded at 55.6% across 107 auctions.
At the same time last year, there were 54 Adelaide properties auctioned over the week, with half of the properties recording a successful result at the time of reporting.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Adelaide.jpg" target="_blank"><img class="alignnone size-full wp-image-3080" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Adelaide.jpg" alt="20140406 Adelaide" width="989" height="652"></a>
Once again, auction activity across the other capital cities was much more subdued and again, results were mixed.
There were 33 auctions held in Perth last week and the preliminary clearance rate was recorded at 26.7%. Across Hobart, 22 properties went to auction with a clearance rate of 50.0% and a 43.8% clearance rate in Canberra across 66 auctions.
There were 8 auctions held in Darwin last week and so far RP Data has captured a result for 5 of these auctions. At this point, no successful results have been recorded.
There are currently 3,271 auctions being tracked by RP Data over the coming week, in what is set to be a busy week leading up to Easter.
*Melbourne auction commentary provided by Robert Larocca, RP Data’s Victorian housing market specialist
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