<section data-scroll-anchor="false" data-testid="conversation-turn-48" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-23" dir="auto">
Melbourne’s apartment market entered 2026 with renewed momentum, but the recovery is uneven, policy-driven, and increasingly shaped by constrained supply.

According to the RPM Apartments &amp; Townhomes Market Report (April 2026), apartments have begun to outperform detached housing on key metrics,yet that performance is occurring against a backdrop of falling approvals and a tightening development pipeline.

At the end of 2025, Melbourne unit values reached a three-year high of $656,500, recording quarterly growth of two per cent. That figure edged ahead of the 1.8 per cent growth recorded in the house market over the same period, marking a notable shift in relative performance. While modest in absolute terms, the outperformance is significant given the sustained dominance of houses through much of the previous cycle.

This shift has been driven in large part by policy. The federal government’s expanded five per cent Deposit Scheme has had a disproportionate impact on apartment demand, particularly in Melbourne where the $950,000 price cap captures a large share of medium- and high-density stock.

As RPM notes, the scheme “heavily favours medium and high-density dwellings,” effectively accelerating demand in the apartment sector.

The impact is most visible in buyer activity. Victoria recorded more than 43,000 new housing loans in Q4 2025, the highest quarterly volume since mid-2022 and one of the strongest results in over a decade. This lift was broad-based across all buyer types, with first home buyers, owner-occupiers and investors all returning to the market with greater confidence.

This surge in demand has flowed directly into apartment pricing, particularly in Melbourne’s middle and outer rings. Middle-ring unit values reached approximately $757,500, a four-year high, while outer-ring units climbed to a record $650,000. Quarterly growth of 2.9 per cent and 2.5 per cent respectively significantly outpaced both the inner ring (0.8 per cent) and the broader house market.

&nbsp;

<img alt="RPM" data-entity-type="file" data-entity-uuid="4628dde5-ad63-4b03-b18e-77d0f750e2aa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-24%20at%209.23.32%E2%80%AFAM.png?VersionId=ig6mqc7Oz7UaszRuzULrGtLPUxGf4NJC" />

&nbsp;

The divergence between apartments and houses is also being shaped by affordability. Detached housing remains out of reach for many buyers, pushing demand toward apartments as a more accessible entry point into well-located suburbs. This is particularly evident among first home buyers and downsizers, both of whom are increasingly prioritising location, amenity and lifestyle over land size.

At the same time, population growth continues to underpin demand. Victoria added more than 122,000 residents in the year to Q3 2025, with Melbourne attracting both overseas migrants and interstate movers, partly due to its relative affordability compared to other capitals.

&nbsp;

<img alt="Population" data-entity-type="file" data-entity-uuid="49e10567-a8b3-47c3-afbd-290f0bb62c49" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-24%20at%209.22.25%E2%80%AFAM.png?VersionId=.2Drmko4TPh02X55JdF3mIC1EcG0ZfGl" />

However, the most critical factor shaping the apartment market is not demand, it is supply.

Apartment approvals across Greater Melbourne have fallen sharply, signalling a constrained pipeline of future stock. In Q4 2025, just 2,339 apartments were approved, down 20 per cent on the previous quarter and 47 per cent lower than the same period a year earlier. On an annual basis, 11,066 apartment approvals were recorded, an improvement on the previous year, but still well below medium- and long-term averages.

&nbsp;

<img alt="Apartment approvals" data-entity-type="file" data-entity-uuid="12f2e7bc-fe01-40c0-80b5-9e829b279d98" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-24%20at%209.21.56%E2%80%AFAM.png?VersionId=5mnIXkXGoDgIJdAFhA0alm0cSKzEytqZ" />

This decline reflects a broader contraction cycle that has been underway since 2020. As RPM notes, “apartment approvals appear to be sliding back into a downward trend,” with developers increasingly focused on launching and completing existing projects rather than initiating new ones.

The reasons are well understood. Construction costs have risen more than 20 per cent since 2021, driven largely by labour shortages and material price escalation. At the same time, financing conditions have tightened, with lenders requiring higher contingencies and taking a more cautious approach to risk. Combined with recent interest rate rises, these factors have made feasibility more challenging, particularly for higher-density projects.

This dynamic is creating a disconnect in the market. Demand for apartments—particularly at the more affordable end—is strengthening, while the pipeline of new supply is weakening. In the short term, this may limit the number of new projects coming to market. Over the medium term, however, it is likely to support price resilience and potentially further outperformance relative to houses.

There are some signs of policy-driven supply response. The introduction of Victoria’s Mid-Rise Code, which streamlines approvals for four- to six-storey developments, is expected to improve delivery in well-serviced middle-ring locations. However, this is unlikely to materially offset the broader decline in apartment approvals in the near term.

Despite the positive momentum at the end of 2025, the outlook for 2026 has become more complex. Two interest rate rises early in the year have already impacted consumer confidence, while broader cost pressures, particularly energy and fuel, are feeding through to construction and development costs.

“Victoria’s built form market ended 2025 on a high, but early 2026 rate rises quickly reversed the momentum,” RPM notes.

The implication is that while apartments are currently outperforming houses, the trajectory of that outperformance will depend on how these competing forces evolve. Policy support and affordability are clearly working in favour of apartments, but constrained supply and rising costs are likely to shape the pace and nature of future growth.

What is increasingly clear is that apartments are playing a more central role in Melbourne’s housing market. As population growth continues and affordability pressures intensify, higher-density housing is becoming not just an alternative to detached homes, but a primary solution to the city’s housing needs.
</section>

Joel Robinson

Units lead Melbourne price growth as apartments outperform houses: RPM

Brunswick is set for some of its largest apartments ever delivered with the upcoming new development Frith &amp; Howarth, where the apartments are around 20 per cent larger than what has come before it in the sought-after suburb.

Developer Young Group focused its design on Frith &amp; Howarth around size and scale, but within a boutique building, to create a mini neighbourhood within the mid-rise development. There are just 24 apartments in the mid-rise building on Victoria Street, a short walk to Brunswick Station and the cafe and dining strip along Sydney Road.

“We spent hours comparing what’s currently on the market so we could offer genuine points of difference,” Young Group says, pointing to room sizing, storage, and functional planning as key drivers behind the design.

All of the two-bedroom apartments in the building have been snapped up, with just the large three- and four-bedroom apartments, with the biggest floorplans and best outlooks, remaining.

[smartcode_project:default project_id=134317 project_image_fid=354139]

Apartments open directly into open-plan living zones where full-height glazing draws light deep into the apartment. Sliding doors extend the space outward to terraces, many oriented toward the adjacent park or back toward the city skyline.

Kitchens sit within this central space, anchored by sculptural island benches that reference the building’s faceted exterior language. Storage is integrated across multiple layers, overhead cabinetry, concealed joinery, and, in larger configurations, dedicated sculleries or butler’s pantries.

[smartcode_project:default project_id=134317 project_image_fid=354137]

The penthouse is the largest ever offered in Brunswick. The penthouse measures nearly 400 sqm all-up, with 242 sqm of internal space complimented by a further 149 sqm of terraces.

It spans the whole top floor and has four bedrooms, four bathrooms, and parking for four cars.

[smartcode_project:default project_id=134317 project_image_fid=354133]

Low maintenance resident amenity has been created in the form of a landscaped rooftop, complete with&nbsp;vegetable plots, outdoor cooking areas, and aflresco dining spaces, designed as a place for neighbours to gather outside of their homes.

“To enable connection with neighbours, generous rooftop gardens with communal spaces and outdoor cooking areas offer a chance to develop a sense of community,” says John Patrick, Principal of <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a>.&nbsp;

“Private open spaces with a selection of native and exotic plantings and gorgeous city views on the rooftop create a high-end aesthetic, with a low maintenance lifestyle. The perfect balance, so that residents can enjoy a serene living space.”

[smartcode_project:default project_id=134317 project_image_fid=354134]

Sustainability is embedded at both the building and apartment level. <a href="https://www.apartments.com.au/new-apartments/frith-howarth-288-290-victoria-street-brunswick-vic-3056">Frith &amp; Howarth</a> is one of only a small number of all-electric residential developments in Brunswick, supported by solar infrastructure, EV-ready parking, and high-performance glazing. These measures sit alongside less visible systems such as rainwater reuse and high-grade insulation, reducing long-term operational costs while maintaining consistent internal conditions.

Positioned within walking distance of Brunswick Station, Route 96 trams, and established retail along Sydney Road and Barkly Square, the development balances access to transport with proximity to open space, a combination that has become increasingly difficult to secure in inner-city sites.

“These exquisite homes are nestled in a culturally diverse neighbourhood, with parklands and nature right on your doorstep,” says Young Group.

[smartcode_project_cta:default project_id=134317]

Frith & Howarth to deliver Brunswick’s largest apartments

<a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> in Brunswick is entering its final stages of construction, with the removal of the project’s last tower crane and the unveiling of the building’s full façade marking a significant milestone ahead of completion this coming spring.

The Park Street development, designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>&nbsp;and Mirvac Design with landscaping by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, is now largely structurally complete, with internal works progressing across the 169-apartment project opposite Princes Park.

<a href="https://www.apartments.com.au/builders/mirvac-construction">Mirvac Construction</a> Project Manager Sam Payne said the latest update reflects a transition from structure to refinement.

“Since our last update, all façade panels have been installed and the scaffolding and gantry has come down, unveiling the building in its full form for the very first time,” Payne said.

“A significant milestone was reached this month with the removal of our final tower crane, signalling the completion of major structural works and a pivotal step forward in the building’s transformation.”

[smartcode_project:default project_id=4802 project_image_fid=366856]

Apartments are now well advanced internally, with joinery completed to level eight and tiling to level six, alongside the delivery of a prototype apartment used to set the benchmark for the remaining residences.

This next phase coincides with the release of a completed furnished residence, styled by MCM House, and the introduction of private buyer tours, giving purchasers a clearer understanding of the finished product ahead of settlement.

<a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> will comprise 169 one to four-bedroom apartments, with completion targeted for early spring. Interiors focus on natural materials and muted tones with two design schemes, while kitchens and bathrooms adopt a restrained palette anchored by stone, timber and textured finishes.

Bates Smart Director Jeffery Copolov said the project reflects a shared design direction centred on liveability and sustainability.

“Blending Mirvac and Bates Smart’s focus on wellness and sustainability, <a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> offers a new kind of conscious, elevated living in Melbourne’s inner north,” Copolov said.

<a href="https://www.urban.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> presents Mirvac's third parkside collaboration with&nbsp;<a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a>&nbsp;in Victoria.&nbsp;Their previous collaborations delivered two of the city’s landmark apartment buildings: The Melburnian opposite Kings Domain and The Eastbourne on Fitzroy Gardens.

[smartcode_project:default project_id=4802 project_image_fid=366857]

A key focus of the development is its landscape-led amenity offering. The central courtyard, spanning around 600 sqm, will feature established trees and planting grown off-site, alongside communal lawns and seating areas designed for everyday use.

Development Manager James Gardner said the outdoor spaces are central to the project’s lifestyle positioning.

“<a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> isn’t just a home, it’s a complete lifestyle offering, and the resident amenity is just one example of the elevated living experience the soon-to-be-complete building will be known for,” Gardner said.

The courtyard connects to a series of shared indoor and outdoor spaces, including a residents’ lounge, dining room, library and secondary west-facing garden area, designed as extensions of the apartments themselves.

Located directly opposite Princes Park and around four kilometres from the CBD, the development places residents within one of Melbourne’s most established inner-north precincts, with access to open space, transport and the retail and hospitality offerings of Brunswick and Carlton.

With façade works complete and landscaping and final finishes now underway, <a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> is moving into its most active construction phase, with permanent services and external works to be finalised in the coming months ahead of completion in spring.

[smartcode_project_cta:default project_id=4802]

Mirvac’s latest landmark, Prince & Parade Brunswick, enters final construction phase

Boutique Perth developer ADC has unveiled its latest project.

The developer, which focuses on bringing apartments to some of Perth's most premium inner-city and riverside suburbs, has launched <a href="https://www.apartments.com.au/new-apartments/mos-lane-mosman-park-46-manning-street-mosman-park-wa-6012">Mos Lane</a>, 68 luxury apartments and townhouses in the heart of <a href="https://www.apartments.com.au/developments/mosman-park-wa-6012">Mosman Park</a>.

<section data-scroll-anchor="true" data-testid="conversation-turn-124" data-turn="assistant" data-turn-id="request-69e027bc-1530-839b-a316-e9dad2cbd4d9-34" dir="auto">
Alongside the one-, two-, three- and four-bedroom apartments, the development will also include five two-level townhomes and two luxe penthouses. ADC is also introducing a significant retail offering for residents through Mos Lane Village, which will feature a wellness studio, fish and chips shop, barber, and florist, adding a layer of amenity not typically found in the predominantly residential Mosman Park area.

Construction has already commenced on the project, which sits just a short walk from the Swan River, Mosman Park Bowls Club, and Mosman Park Golf Course.

House Agency Directors Tom House and Lachlan McDonald say they are fielding the majority of buyer interest from local downsizers, as well as buyers with a long-standing affinity for Mosman Park.
</section>

[smartcode_project:default project_id=148957 project_image_fid=364591]

Mos Lane will comprise two buildings; Samson House and Manning House, which have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/nelson-koo">Nelson + Koo</a>, an emerging design consultancy specialising in the masterplanning and design of mixed use places and spaces.

The two buildings adopt distinct architectural responses to their surroundings. Manning House references the strong roof forms of nearby homes, with floorplates oriented to maximise light and long-range views, while Samson House is organised around a central atrium designed to bring daylight deep into the building and create a greater sense of openness.

At ground level, the inclusion of five townhomes introduces a typology more commonly associated with Mosman Park’s established streets, each with private courtyards and direct frontage, offering a transition between traditional housing and apartment living.

[smartcode_project:default project_id=148957 project_image_fid=364103]

Interiors have been led by Melbourne-based Hecker Guthrie, with an emphasis on practical, long-term liveability. Residences incorporate sculpted joinery, generous storage and flexible multi-purpose rooms that can adapt to changing household needs, whether for working from home, guest accommodation or additional living space.

Material selections draw on a restrained palette of textured stone, timber and neutral tones, with options for lighter or darker schemes. Detailing such as fluted glass, full-height joinery and integrated appliances is intended to balance functionality with a more refined residential finish.

Outdoor spaces are a consistent feature across the development, with balconies and terraces designed for dining and entertaining, and larger apartments incorporating outdoor kitchens. Orientation has been considered to allow residents to choose between morning or afternoon sun, while mature street trees and landscaped communal areas contribute to a softer streetscape.

[smartcode_project:default project_id=148957 project_image_fid=364107]

Shared amenities are positioned to support both day-to-day convenience and occasional use. These include a private dining room with a caterer’s kitchen, alfresco entertaining areas, and a bookable guest suite for visiting friends and family. Additional practical features such as a resident workshop, storage facilities, car and pet wash areas, and concierge-style services for cleaning and dry-cleaning collection reflect a focus on usability.

Positioned between the Swan River and Cottesloe Beach, and within reach of schools such as Iona Presentation College and St Hilda’s Anglican School, the development is aimed at a broad buyer group, from downsizers seeking a lower-maintenance alternative to larger homes, through to local residents looking to remain in the area in a different housing format.

Mos Lane represents one of the more significant additions to Mosman Park’s limited pipeline, combining new housing supply with a village-style retail centre in a suburb where opportunities for large-scale redevelopment are relatively constrained.

[smartcode_project_cta:default project_id=148957]

Living village precinct set for Mosman Park as ADC launches Mos Lane

An entity linked to I&amp;D Group Founder Ivan Filipović has filed plans for a new residential development at 188–202 Swan Street in Cremorne, targeting a prominent site within the tightly held Swan Street activity corridor.

The proposal seeks to redevelop the consolidated Swan Street landholding into a <a href="https://www.apartments.com.au/new-apartments/188-202-swan-street-cremorne-vic-3121">high-density mixed-use project</a>, replacing a series of existing commercial buildings with a significantly scaled residential outcome. The planning submission positions the development as a response to increasing demand for housing in well-connected inner-urban locations, particularly within established activity centres.

Plans outline the construction of a 14-storey building delivering 165 apartments above a four-level basement, alongside a ground-floor retail and commercial offering designed to activate the streetscape. A key feature of the scheme is a new north–south pedestrian link connecting Swan Street to Railway Place, intended to “enhance permeability and provide an active, publicly accessible connection through the site.”

<img alt="First Look: Plans lodged for Ivan Filipović-linked Cremorne apartment project on Swan Street" data-entity-type="file" data-entity-uuid="7332a8f8-dd2b-483d-b86e-320658838c84" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/cremorne.png?VersionId=cXm8vAaRdHh.LpYVbecrRkjckgu9mtAF" />

The development will retain part of the existing built form at 198–200 Swan Street, while the remainder of the site will be cleared to accommodate the new structure. Basement levels will provide 196 car spaces and 113 bicycle spaces, with vehicle access from Railway Place. Communal amenity is distributed across the building, including a shared outdoor area on Level 1 and a rooftop terrace for residents.

Ground level uses include retail tenancies fronting Swan Street and the pedestrian link, a residential lobby, and a flexible commercial space positioned to support community-oriented uses. The planning report notes this space “could be offered as a flexible space within the development for community groups,” supporting short-term or longer-term occupancy arrangements.

<img alt="First Look: Plans lodged for Ivan Filipović-linked Cremorne apartment project on Swan Street" data-entity-type="file" data-entity-uuid="8208bf7b-cc67-485d-ad0f-1d73a74c907f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/cremorne%20lane.png?VersionId=69ctjC0txXv0zCHy7qQUpJyGwvPAT7gw" />

The site sits within the Swan Street Major Activity Centre, surrounded by a mix of retail, hospitality, and emerging residential development, and directly opposite tram services along Swan Street. East Richmond Station is located to the south, providing strong rail connectivity, while the broader Cremorne precinct continues to evolve as a mixed-use hub.

I&amp;D Group, founded by Ivan Filipović, is regarded as one of Victoria’s largest formwork contractors, partnering with major construction firms across large-scale public and private developments. The Swan Street proposal signals a move into development-backed opportunities tied to strategic inner-city sites.

First Look: Plans lodged for Cremorne apartment project on Swan Street

Oxford Economics

<html><body>
GUEST OBSERVATION
China’s rise as a <a href="https://theconversation.com/soft-power-goes-hard-chinas-economic-interest-in-the-pacific-comes-with-strings-attached-103765" target="_blank">global power</a> is driving new flows of people, ideas and capital between China and Australia. Australian cities need to adapt to this new geopolitical reality.
For some, these changes promise new opportunities to fulfil a “<a href="http://www.defence.gov.au/whitepaper/2013/docs/australia_in_the_asian_century_white_paper.pdf" target="_blank">vision of being a land of increased opportunity, prosperity and fairness</a>”. Others see Asian “invasion” and “takeover” as a threat to Australia’s white identity and <a href="https://www.propertyobserver.com.au/https://www.hardiegrant.com/au/publishing/bookfinder/book/silent-invasion-by-clive-hamilton/9781743794807" target="_blank">political system</a>.
A new <a href="https://doi.org/10.1111/1745-5871.12311" target="_blank">collection of articles</a> demonstrates that the impact of the Asian Century on Australian cities defies both dystopian claims of a “Chinese takeover” and utopian visions of a harmonious urban multiculturalism.
<audio width="300" height="32" preload="metadata" controls="controls" data-duration="850" data-image="" data-title="Linda Jakobson, CEO of China Matters, on Australia's relationship with China." data-size="34018889" data-source="City Road Podcast" data-source-url="https://soundcloud.com/user-283789701/china_matters" data-license="CC BY" data-license-url="http://creativecommons.org/licenses/by/4.0/"><source src="https://cdn.theconversation.com/audio/1327/china-matters-interview.mp3" type="audio/mpeg"></source></audio>
<div class="audio-player-caption">Linda Jakobson, CEO of China Matters, on Australia’s relationship with China. <a class="source" href="https://soundcloud.com/user-283789701/china_matters" target="_blank" rel="nofollow">City Road Podcast</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>32.4 MB <a href="https://cdn.theconversation.com/audio/1327/china-matters-interview.mp3" target="_blank">(download)</a>
</div>
Changing settlement patterns
The profile of migrants who arrived from mainland China since 2000 <a href="https://onlinelibrary.wiley.com/doi/10.1111/1745-5871.12293" target="_blank">is changing</a>. They are more highly skilled, educated and investment-focused than earlier migrants.
Their settlement patterns in Australia <a href="https://onlinelibrary.wiley.com/doi/10.1111/1745-5871.12293" target="_blank">are also changing</a>. Sydney is still home to half of all China-born migrants in Australia. However, the proportion of migrants settling in other capital cities is increasing.
In Sydney in 2001, China-born residents represented over 10% of the population of only three suburbs. A decade later, the number of such suburbs had risen to 22.
Smaller increases were evident in Melbourne (from one suburb in 2001 to seven in 2011) and Brisbane (zero to four).
However, Hurstville was the only Australian suburb in 2011 where China-born residents represented over 25% of the population.
This suggests a pattern of settlement that is neither extreme residential segregation along ethnic lines nor full <a href="https://onlinelibrary.wiley.com/doi/10.1111/1745-5871.12293" target="_blank">“spatial assimilation”</a>. Rather, it is best understood in terms of multiple moderate concentrations.
Changing homes
The choices Chinese migrants make about their homes in Australia are significant in shaping Australian cities.
The homes Chinese migrants make in Australia involve complex relations with both their past homes in China and their new lives as Australians.
Over time, many adopt Australian practices of housing consumption. This includes <a href="https://books.google.com.au/books/about/Migration_Settlement_and_the_Concepts_of?id=Fv79oAEACAAJ&amp;redir_esc=y" target="_blank">the preference for detached suburban houses rather than apartments</a>.
One environmental implication of this is that the housing footprint of China-born migrants in Melbourne increased <a href="https://theconversation.com/chinese-migrants-and-urban-consumption-in-australia-local-impacts-and-global-implications-103921" target="_blank">five-fold after migration</a>.
Nevertheless, Chinese migrants are <a href="https://theconversation.com/higher-density-and-diversity-apartments-are-australia-at-its-most-multicultural-97176" target="_blank">over-represented in apartment buildings</a>. Nationally, only 7% of Australian-born people live in apartments, compared to 31% of those born in northeast Asia, including China.
Changing cultural relations
Despite the policy shift from White Australia to multiculturalism, racism remains prevalent in Australian cities. A narrative about <a href="https://www.tandfonline.com/doi/full/10.1080/07256868.2018.1459516" target="_blank">white victimhood</a> is often used to counter evidence of discrimination against non-whites.
One recent <a href="https://theconversation.com/asians-out-not-in-this-suburb-not-in-this-apartment-103919" target="_blank">study</a> found Asian Australians have experienced twice as many instances of racism and discrimination as have other Australians. Specifically, 58% of Asia-born participants experienced some measure of discrimination when renting or buying a house.
Apartment buildings have become a <a href="https://onlinelibrary.wiley.com/doi/10.1111/1745-5871.12282" target="_blank">key site</a> of <a href="https://link.springer.com/chapter/10.1057/9780230244474_2" target="_blank">intercultural encounter</a>. Often this involves tensions over the <a href="https://theconversation.com/higher-density-and-diversity-apartments-are-australia-at-its-most-multicultural-97176" target="_blank">management of common areas, washing hung on balconies, or even cooking smells in buildings </a>.
Consequently, strata or body-corporate committees have become important institutions for mediating intercultural relations in Australian cities.
In suburbs with increased concentrations of China-born residents, intercultural tensions are often expressed through local urban planning conflicts. In some suburbs, for example, white residents have <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/1745-5871.12268" target="_blank">blamed Chinese investors</a> for driving residential densification and the loss of “neighbourhood character”.
At the same time, shared interests in relation to buildings, neighbourhoods and shared social class identities can <a href="https://www.propertyobserver.com.au/https://www.palgrave.com/gp/book/9789811313660" target="_blank">help to bridge ethnic and racial difference</a>.
Housing market
<a href="https://www.tandfonline.com/doi/abs/10.1080/00049182.2017.1317050" target="_blank">Chinese investment </a>in residential and commercial real estate increased from A$2.4 billion in 2009-10 to A$24.3 billion in 2014-15. China was one of the largest sources of capital. Asian foreign investors accounted for 9.4% of purchases of new dwellings in New South Wales in the fourth quarter of 2015.
While much of this investment was channelled into new housing supply, <a href="https://onlinelibrary-wiley-com.ezp.lib.unimelb.edu.au/doi/10.1111/1745-5871.12280" target="_blank">public concern about the impact of foreign investment on housing affordability</a> is rising.
<a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/abac.12110" target="_blank">One estimate</a> suggests that if foreign investment had been held steady from 2004 to 2014, house prices in Sydney and Melbourne would have risen by about 50% compared with the actual growth of 67%. Therefore, most of the increase in house prices cannot be attributed to foreign investment.
By pointing to foreign investment as the main reason for Australia’s housing affordability woes, media coverage and government statements have often shifted attention away from the <a href="https://theconversation.com/affordable-housing-policy-failure-still-being-fuelled-by-flawed-analysis-92993" target="_blank">structural causes</a> of housing unaffordability and the various drivers of <a href="https://www.tandfonline.com/doi/abs/10.1080/19491247.2016.1270618" target="_blank">foreign investment</a>.
Changing Australian cities in the Asian Century
Australian cities in the early 21st century face major challenges relating to housing, transport, jobs and food security.
Racialised talk of “Asian invasion” blames Chinese migrants and investors for many problems. Yet the foundations of these problems run deep into Australia’s <a href="https://www.rowmaninternational.com/book/the_geopolitics_of_real_estate/3-156-775f5a7c-6f6f-45fe-9a2a-fdfaf44f5727" target="_blank">urban histories</a> and our market-driven approach to city-making.
Debate about the impact of the so-called Asian Century on Australian cities must move beyond a discussion about utopian opportunities and dystopian threats. The reality on the ground in Australian cities is far more complex than this binary thinking.<img src="https://counter.theconversation.com/content/103917/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Dallas Rogers, Program Director, Master of Urbanism. School of Architecture, Design and Planning, University of Sydney
Ilan Wiesel, Senior Lecturer in Urban Geography, University of Melbourne
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-australian-cities-are-adapting-to-the-asian-century-103917" target="_blank">original article</a>.
Main photo: More than 25% of Hurstville residents were born in China, but the Sydney suburb is the exception to the rule. <a href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/philipterrygraham/36115452672" target="_blank">Philip Terry Graham/Flickr</a>, <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC</a> <a href="https://theconversation.com/profiles/dallas-rogers-5269"> </a>
</body></html>

j.ballantyne1990-6AQqhLzZaK

How Australian cities are adapting to the Asian Century

<html><body>
<div>
Australia's housing is among the four riskiest markets in the world, according to Oxford Economics.
It has a strong prospect of falling prices posing a threat to economic activity, the research paper noted
The housing market dangers were "especially acute" in Sweden, Australia, Canada and Hong Kong, according to Oxford.
Weighing up a range of risk factors, including housing valuations compared to long-term averages, it noted all four valuations were very elevated.
It noted there has been a lengthy housing boom, debt levels were high and there was a significant share of floating rate debt, Oxford's lead economist Adam Slater wrote in a research note.
The risks were relatively limited in key markets including the US, Germany, France, China and Japan.
</div>
<div>
Overall edian OECD house price valuations are below the 2006-07 peak but are higher for the risky markets, according to Oxford.
<div id="article-inline-ad">"Historical experience suggests that high valuations – of 125 per cent or more of the long-term average – point to a 60 per cent chance of prices falling over the next five years," Mr Slater wrote.</div>
</div>
<div> </div>
<div>"This matters because house prices can have a big impact on economic activity, even if the link may have loosened in the G7 in recent years.</div>
<div>
"Looking across a range of housing risk indicators, property market dangers look concentrated in a number of smaller advanced economies and are less severe for the largest economies."
On a valuation index where the long-term average is 100, Australian housing is at 160, while Sweden is at 165, Canada at 173 and Hong Kong at 203.
</div>
<div>Slater wrote rising rates are not strictly necessary for prices to start falling (i.e. Sweden) and in the context of high valuations and debt, even modest increases (i.e. Canada and Hong Kong) "could be a problem."</div>
<div> </div>
<div>Oxford's assessment suggest Australian house prices have another risk factor, with an 82 per cent share of its mortgages held on floating rates.</div>
</body></html>

Australia's housing among the four riskiest markets in the world, Oxford Economics

<html><body>
UK-based advisory firm Oxford Economics has acquired a controlling stake in leading Australian analytics and forecasting firm BIS Shrapnel for an undisclosed sum, which the former says will make it the largest independent economics research firm in the world. 
The new organisation will be named BIS Oxford Economics and will see the merger of BIS Shrapnel  with the Australian arm of Oxford Economics. BIS Shrapnel generally focuses on the building, construction, property and mining sectors.
“This investment by Oxford Economics sees the merging of BIS Shrapnel’s deep knowledge of the Australian and New Zealand economies with Oxford Economics’ detailed understanding of the global economy,” said Robert Mellor, managing director, BIS Oxford Economics.
The new firm will be better able to assess market trends and quantify the impacts for its clients at the global, national and city levels, said a media release.
“The acquisition brings together Oxford Economics’ rigorous global modelling and analytical framework with BIS Shrapnel’ expertise across the Australian economy, in particular in forecasting investment cycles,” said Adrian Cooper, chief executive officer and chief economist, Oxford Economics.
“This agreement expands the Oxford Economics Group to more than 300 staff globally, making it the largest independent economics research firm in the world, and allows us to support our clients in understanding economic trends and their impacts both domestically and globally.”
Highlighting this, Mellor added that “major political, social and economic events in nations abroad have profound global impacts – look no further than Brexit or Trump”.
The new entity will operate from BIS Shrapnel’s existing offices in Australia. Robert Mellor will lead BIS Oxford Economics, with Dr Frank Gelber to remain Chief Economist and Director.
All of BIS Shrapnel's staff will be retained.
 
</body></html>

Oxford Economics

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Oxford Economics

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News