Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

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

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

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

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

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

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

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

Goldfields appoints BINAH for Quartet apartments in Milton

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

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

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

Property Boom

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The latest CoreLogic data shows Perth dwelling prices fell another -0.5% over August, bringing quarterly falls to -1.8% and year on year price falls to -8.8%.
As a result of this latest shift Perth values are now 20.6% down from their June 2014 peak.
Falls in dwelling values were larger across Perth apartments this year with -9.9% falls compared to a -8.6% fall in house values.
Perth's Mandurah has seen the fourth largest overall value decline -35.7% this year.
In July, Domain Economist Trent Wiltshire predicted some Perth price growth in 2020, however he warned there is still an ongoing risk that price falls could continue.
"A more positive outlook for Perth ​has existed for a while, but property prices have continued falling, mortgage arrears​ are rising, and more households are in ​negative equity​," Wiltshire said.
"House and unit prices are expected to bottom out in spring and remain unchanged during the six months to December, with prices likely to stay at the June median of $520,000 for houses and $330,000 for units.
"A rebound in Perth prices in 2020 was expected, but given the entrenched weakness in the market, only modest price growth of 0 to 2% for houses and units was forecast."
<img src="https://www.urban.com.au/images/2019/6/28/Perth%20Forecast.JPG" alt="">
More recently REIWA data showed that listings have increased 6% since the December 2018 quarter to 16,957, however it isn’t helping selling periods. It took an average of 78 days for vendors to sell their properties last quarter.
REIWA data shows that 29% of suburbs in Perth had an increase in rents during the quarter, and 36% of suburbs saw increases over the past year.
President of REIWA Damian Collins recently said: "It’s also worth noting that a significant portion (43%) of Perth sellers are achieving sales prices at or above their original asking price, which suggests that many vendors are heeding the advice of their real estate agent and pricing their properties in line with market expectations."
Herron Todd White found that the residential market in Perth has tracked closely in line with their February predictions for the year (so far).
In their August report, the valuation firm stated: "Our assumptions were that the rental market would continue to be a strong point for Western Australia and that sales volumes and house price growth would remain subdued until 2020.
"There has been a lot of speculation about when the Perth market will finally turn and it doesn’t seem like we are much closer to knowing, mostly due to our split property cycles and diminishing sales volumes.
"Thankfully, the wider Perth area has seen some stability in its median price."
The report noted that according to their data the median house price settled at $500,000 for the March quarter, 0.6% higher than the previous quarter.
The unit median price also remained steady, holding at $380,000.
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j.ballantyne1990-6AQqhLzZaK

Perth prices could finally see a rebound in 2020

soliver-smf6LQXgW9

Australian house prices near bottom but don't expect a boom soon: Shane Oliver

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GUEST OBSERVATION
Australia’s Foreign Investment Review Board (FIRB) reported this week that foreign residential real estate approvals dropped significantly in the 2016-17 period.
Whereas 2015-16 saw 40,149 approvals granted, totalling A$72.4 billion, the figure for the following year was just 13,198 approvals, totalling A$25.2 billion. On these numbers, the foreign property investment boom looks to be over.
<a href="https://images.theconversation.com/files/220901/original/file-20180530-120505-1nrqx6t.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/220901/original/file-20180530-120505-1nrqx6t.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Source: FIRB
This is bad news for the property and financial industries, who are already feeling the pressure of weak household income growth, tighter lending restrictions on local borrowers, and a slowing in housing market activity in key Australian cities.
FIRB suggests that declining demand from China is a factor in the overall decline in overseas approvals. Chinese demand may have been weakened by a range of factors, including the new FIRB application fees, Chinese overseas direct investment capital controls, and the changing global economy.
But if the cycle is moving from boom towards bust, we have learned several things along the way.
Lesson 1: We still need more data
In 2014 the House of Representatives Standing Committee on Economics undertook an inquiry into foreign investment in residential real estate. It acknowledged the growing public disquiet about the level of this foreign investment, adding that:
"…there is no accurate or timely data that tracks foreign investment in residential real estate. No one really knows how much foreign investment there is in residential real estate, nor where that investment comes from."
Four years on, FIRB is still flagging the limitations of data collection and analysis. Without fine-grained data, it’s hard to forecast how much, if at all, the injection of foreign capital can push up local house prices.
The latest figures come with a caveat. The approvals data represent potential investment, rather than actual investment. There are key differences between the two. Potential investors might, for example, seek approval for multiple properties while only intending to buy one of them.
We need the government to collect more extensive and detailed data on individual foreign real estate investment, and make it publicly available. This needs to cover more than approvals data at the city level, but data on investment levels in neighbourhoods or even individual housing developments.
Lesson 2: People on the property ladder are less hostile to foreign buyers
Data from Sydney reveals widespread concern about foreign investment. Almost 56% of Sydneysiders believed foreign investors should not be allowed to buy residential real estate in Sydney. Only 17% of respondents in our study thought the government’s regulation of foreign housing investment was effective.
Just over half of Sydneysiders say they would not want Chinese investors buying properties in their suburb. And 78% thought foreign investment was driving up housing prices in greater Sydney.
Yet those who have real estate investments were more likely to support foreign investment than those who don’t. This suggests that Sydneysiders with equity in the housing market, such as homeowners or investors, might view foreign buyers pushing up housing values as positive. And they might fear that the new decline in foreign investment might depress their assets.
Lesson 3: Housing is built with specific buyers in mind
When Chinese real estate investment started to rise significantly in 2013-14, property developers scrambled to model this new emerging market. The real estate media rushed to map out where Chinese investors were keenest to buy, and how best to design and market property developments to this new foreign client base.
In early 2012, Larry Schlesinger quoted the demographer Bernard Salt as saying: 
"The growing numbers of Chinese and Indian migrants in Australia means property investors need to consider the cultural sensitivity of the residential property they purchase to ensure they maximise the resell value."
Between 2013 and 2017, property developers, both local and foreign, regularly contacted me to ask if I had any up-to-date research on foreign investors’ consumer preferences and market forecasts. I did not. But there was no shortage of advice out there, covering everything from feng shui-informed housing design to the key needs of foreign university students.
Some global real estate agents suggested to their clients that they could buy an Australian home to accommodate their child while they were studying at an Australian university, and then use the capital gain from the property sale to pay back the tuition fees.
Many property developers were formulating medium- to long-term development pipelines that included the foreign capital and consumer preferences of foreign investors. It is unclear, now, whether much of this housing stock will ever be built. If it is, will it suit the changing future needs of our cities, or address our ongoing housing affordability problems?
In other words, what sorts of properties will be left as the legacy of the recent foreign real estate investment mania?
Lesson 4: Racialised housing debates are simplistic and harmful
We need to take care not to conflate domestic Chinese-Australian buyers with international Chinese investors. Much of the media coverage of the new report features stereotyped images of Asian families buying an Australian home. But given the foreign investment rules and logistics involved, these pictures are far more likely to depict Chinese-Australians than foreigners.
Understanding the long-term migration and education plans of the investors is important too. Different investor groups will interact with the city in different ways, and their impact on society can be vastly different too. For example, super-rich absentee investors will have a different impact on neighbourhood life compared with that of middle-class migrants or international students.
If the federal government wants to court foreign investment, then better education about the possible risks and benefits of individual foreign real estate investment is needed. Our research suggests that the government’s pro-foreign investment stance must be accompanied with strategies to protect intercultural community relations in Australia.
Lesson 5: The boom-bubble-bust cycle goes on
In 1982, Maurice Daly wrote in his classic book Sydney Boom, Sydney Bust that the:
"…fluctuation in property prices recorded for Sydney have been caused by the forces linking the city to the Australian economy and to the remainder of the world."
Daly charted the influx of foreign people and capital into Sydney between 1850 until 1981, as wealth was channelled through the financial services sector and into urban real estate. Along the way, he observed that one “group to attract the abuse of the general population were the Chinese”.
Domestic and foreign real estate investment have long been connected to the financial services industries, and the built environment is central to creating and storing surplus capital. Australian cities continue to be heavily influenced by global money today.
A key lesson is that domestic and foreign housing booms, bubbles and busts are thus better understood as cycles within our housing and financial system, rather than as a set of short-term ruptures to this system.
<img src="https://counter.theconversation.com/content/97460/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">We need to think about the collective impacts of domestic and foreign real estate investment over the long-term in our cities if we are serious about addressing housing inequality.
Dallas Rogers, Program Director, Master of Urbanism. School of Architecture, Design and Planning, University of Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/australias-foreign-real-estate-investment-boom-looks-to-be-over-here-are-five-things-we-learned-97460" target="_blank">original article</a>.
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Five lessons from Australia's foreign real estate investment boom: Dallas Rogers

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GUEST OBSERVATION
Australia’s property market is slowing and many people are contemplating a possible bust. But in this episode of Essays On Air (<a href="https://theconversation.com/essays-on-air-australias-property-boom-and-bust-cycle-stretches-back-to-colonial-days-96415" target="_blank">available to stream or download from this link</a>) reminds us that even since colonial days, Australia’s property market has had its ups and downs.
Today, University of Sydney urbanism researchers Alistair Sisson and Dallas Rogers narrate a recent <a href="https://www.tandfonline.com/doi/full/10.1080/00049182.2018.1464365" target="_blank">essay</a> they wrote for the journal Australian Geographer on boom and bust cycles in major Australian cities.
It’s titled <a href="https://www.tandfonline.com/doi/full/10.1080/00049182.2018.1464365" target="_blank">Property speculation, global capital, urban planning and financialisation: Sydney Boom, Sydney Bust redux</a>. It was recorded and edited by Dallas Rogers and written with Alistair Sisson and Chris Gibson for the 100th anniversary of the journal <a href="https://www.tandfonline.com/doi/full/10.1080/00049182.2018.1464365" target="_blank">Australian Geographer</a>.
The audio version features the voices of Roderick Chambers and Kevin Suarez, producers from the community radio station <a href="https://2ser.com/">2SER</a>.
The authors would like to acknowledge the Gadigal people of the Eora nation, upon whose land their research takes place.
Find us and subscribe in <a href="https://itunes.apple.com/au/podcast/essays-on-air/id1333743838?mt=2" target="_blank">Apple Podcasts</a>, in <a href="https://play.pocketcasts.com/" target="_blank">Pocket Casts</a> or wherever you get your podcasts.
Additional audio
<a href="http://freemusicarchive.org/music/Blue_Dot_Sessions/Castro/Strange_Dog_Walk" target="_blank">Strange Dog</a> by Blue Dot Sessions
<a href="http://freemusicarchive.org/music/mGee/Old_Orchard_Beach_EP/08_-_Atlantic_State_of_Mind_A_Long_Winter" target="_blank">Atlantic State of Mind (A Long Winter)</a> by McGee
<a href="http://freemusicarchive.org/music/Trans_Alp/Aprs_Quatre_Pices_dErik_Satie/Camomille_-_Aprs_quatre_pices_dErik_Satie_-_02_Gnossienne_N3" target="_blank">Gnossienne No3</a> by Trans Alp
Soundscape audio sourced from <a href="http://www.freesound.org/" target="_blank">freesound.org</a>
<img src="https://counter.theconversation.com/content/96415/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"><a href="http://freemusicarchive.org/music/Ryan_Cullinane/20170730112629350/Hip_Horns_With_Drums" target="_blank">Hip Horns With Drums</a> by (none given)
Dallas Rogers, Program Director, Master of Urbanism. School of Architecture, Design and Planning, University of Sydney
Alistair Sisson, PhD Candidate, Urban Geography, University of Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/essays-on-air-australias-property-boom-and-bust-cycle-stretches-back-to-colonial-days-96415" target="_blank">original article</a>.
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Podcast: Australia’s property boom and bust cycle stretches back to colonial days

Expect property prices to fall 5 to 10 percent: Shane Oliver

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Guest Observer
Sydney and Melbourne have recorded phenomenal price growth over the past five years, with house prices rising 66.9 percent and 39.8 percent respectively since the growth cycle commenced in mid-2012.
The median house price in Sydney is now $960,000, representing a capital gain of $385,000 in just five years. The median house price in Melbourne is $675,000, with the boom putting on average about $192,500 of new equity into the pockets of home owners.
A strong economy, population growth, new infrastructure, a chronic shortage of housing, a spike in investor activity and interest rates falling to record lows have all contributed to this surge in property values.
Some suburbs have fared better than others, with local factors substantially propelling prices forward in parallel with citywide trends that caused a frenzy of buying in our two big capitals.
Figures compiled by CoreLogic have identified the Sydney and Melbourne suburbs with the strongest house price growth in the five years to June 2017. 
The biggest boom winners in Sydney were Bringelly (170.1% growth) and Kemps Creek (166%) in the west and Clareville (125%) on the northern beaches. 
Melbourne’s biggest boom winners were Huntingdale (103% growth), Ashwood (91.2%) and Ashburton (90.6%) in the south east.
In Bringelly and Kemps Creek, land sales have been the key drivers of house price growth. While the two precincts are still largely farming areas, rezoning is expected to change the face of these neighbourhoods in the years to come. Zoning for Bringelly is currently mixed while the majority of Kemps Creek will be industrial to service the new Western Sydney Airport.
The airport is already bringing jobs and businesses to the area, with initial roadworks underway generating about 4,000 jobs. The Federal Government plans to have the airport operational by 2026 with close to 9,000 jobs in place by the early 2030s.
Over on Sydney’s Northern Beaches, the affluent beachside suburb of Clareville has seen prices surge over the past five years, with an increase in the number of $4M+ sales over the past 12 months largely behind its incredible growth.
While the precinct has always been desirable to buyers, its recovery post-GFC was slower than other prestige areas. Buyers have since come to recognise the disparity in value between Clareville and the premium suburbs of the lower north shore, upper north shore and eastern suburbs, which has also been a significant factor fuelling increased demand in recent years.
The Clareville market has been driven by downsizers, local families upgrading and buyers seeking a holiday home. The appeal of a relaxed beachside lifestyle within an hour of the CBD has made it a sought-after seachange destination.
The suburb has also benefited from new restaurants, the new Avalon Beach Surf Club and the promise of better transportation to the city with the new B-Line bus service.
In Melbourne’s south east, the ripple e ect has sent prices soaring in our top three suburbs.
In Huntingdale, the small yet attractive enclave is tightly held with just 19 house sales in FY17 out of only 469 houses in total. Home to just 1,900 residents, its collection of about 20 streets is attracting buyers priced out of nearby Oakleigh, Carnegie, Murrumbeena and Hughesdale.
Among its amenities is Huntingdale Primary School – one of just 12 bilingual schools in Victoria, and the internationally recognised ‘Home of the Australian Masters’, Huntingdale Golf Club, both located just across the border in Oakleigh South. Huntingdale also has its own train station.
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Just 5km away, neighbouring Ashwood and Ashburton were once considered hidden gems but are now in high demand from buyers priced out of Camberwell, Malvern and Mount Waverley. These two leafy suburbs offer an abundance of green space and their large blocks are popular with families. Ashburton has seen an increase in new builds as home owners knock down existing properties to create modern family homes.
 Both suburbs offer good public transport links and easy access to the Monash Freeway, with nearby Chadstone shopping centre and Monash and Deakin universities also major drawcards.
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After a five year upwards trajectory, we are now seeing affordability constraints and tighter lending conditions softening demand in both the Sydney and Melbourne markets.
 Affordability is always a factor at the end of booms. The market cycle eventually reaches a critical price point where buyers begin to exit the marketplace. Some owner occupier buyers renovate instead of trading up while others leave the city altogether. Investor buyers begin to lose interest as capital growth prospects wane and yields become too small to service the loan. New restrictions on lending to investors have been a major factor reducing demand as well. Typical post-boom market trends we expect to see over the next year include an increase in stock, as more vendors come to market with hopes of achieving a final boom price and thousands of new apartments are completed following the construction boom. 
Apart from first home buyers, we will see a gradual reduction in demand as investors exit and owner occupiers struggle with affordability. The buyers remaining in the market will be choosier given improved supply, leading to an increase in average days on market.
 Auction clearance rates will fall back to the more normal rate of sale around 60%. After several months of post-boom activity, vendor discounting will increase as sellers finally adjust their expectations and accept that boom level prices are no longer achievable. Price growth will continue – albeit at a slower pace, particularly in Sydney and Melbourne’s best suburbs. The citywide medians will rise and fall over many months as the market rebalances. Overall, there is a possibility of a minor price correction and this would be healthy for the long term sustainability of our major city markets following such a prolonged period of rapid growth. 
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John McGrath is the founder of the national agency, McGrath Estate Agents <a href="https://www.mcgrath.com.au/mcgrath-report" target="_blank">with the full report here</a>.
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jrobinson-rf4aSBido9

Biggest boom winners and what's the next cycle? John McGrath

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Sydney's property boom is now in its fifth year - an unusually long period with unusually high price growth.
But the May auction results suggest there's been a light tap on the breaks.
The slightly lower Saturday auction success has contributed to the current thinking that we've perhaps seen the peak. 
But which peak?
Last weekend Ryde recorded the strongest clearance rate of 90 percent from 46 auctions, but Blacktown, with half the volume, secured just 55 percent.
The overall Sydney figure was 76 percent.
There's so many markets across Sydney each having their own telling characteristics.
As a buyer or seller in the market, it is important to take note of the suburban, citywide and national trends, as they all contribute to the commentary which shapes sale outcomes.
Despite it being at the pricier end of activity, auction trends are a portent of the wider property market direction.
There are indicators that cover the private treaty market.
Some of these have yet to suggest any shift in sentiment, but these to tend to lag auction momentum so should emerge over coming months.
Days on market for Sydney private treaty sales sits at a speedy 28 days, the nation's fastest market, CoreLogic advise. The buying discount off the vendor asking price is just four percent.
Stock on market is up six percent suggesting a bumper winter selection for buyers.
The latest CoreLogic figures show supply of established housing stock for sale is at the highest level for this time of year since 2012.
Estate agent John McGrath senses the booming market has turned.
"Demand softens because prices get to such a high point after a long period of growth that buyers start giving up and exiting the market."
Would-be upgrader buyers choose to stay put and renovate or extend because they feel trading up is just too difficult.
"Whether this new data from CoreLogic indicates a turn of the cycle or a blip, we don’t yet know," McGrath said.
But his feeling is that Sydney is at, or around, its peak for the cycle.
"We’re certainly overdue for a period of price consolidation, which I continue to believe is a healthy sign for the market.
"Vendors are still in the driver’s seat but this won’t last forever, especially if demand is on the way down."
Along with the auction and private treaty market, there is another major segment, separate but also infectious, which is off the plan apartment offerings.
One index I like is the number of residential cranes on the Sydney skyline. According to the latest count, there are 34 more over the past six months. The 292 cranes total account for 53 percent of all Australian residential cranes, the RLB Crane Index indicated. 
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jchancellor-FAypfDUnLy

May auction results suggest Sydney's property boom may be slowing

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A new report from Secret Agent claims states changes to the student visa rules saves Chinese parents $360,000 and could potentially reignite a property boom.
Secret Agent claim any rational Chinese parent will rethink whether studying locally or in Australia can provide a better education and quality of life for their kids. Here, the best primary school education costs half as much compared to China.
The report states according to Lianjia, a Chinese real estate website, it will cost on average RMB ¥9,588,378 or AUD$1,982,708 to buy a 110-130sqm 3 bedroom apartment in one of Beijing’s popular public primary school zones.
<a href="/images/2016/06/10/Screen%20Shot%202016-06-10%20at%2010.14.41%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/10/Screen%20Shot%202016-06-10%20at%2010.14.41%20AM.png" alt=""> 
 
"Studying abroad, such as in Australia, has been a popular choice among wealthy parents in China. In a major city like Beijing, exam attendance has halved in the past decade, from 126,000 in 2006 to 61,000 today. At the same time, the number of students studying abroad has increased dramatically. Now, the Australian government has made studying in this country $360,000 more attractive," the report said.
"The first thing that Chinese parents want to do is to send their kids to a good primary school, and to do this they have to live in the right school zone, just like how it works here. 
"Local students can study for free in these public primary schools. However, each intake is limited and parents must be able to afford the equivalent of a AUD$2 million apartment in the school zone. The other option is for parents to send their children to the more expensive private international schools, whose tuition fees on average cost AUD$43,648 (RMB¥211,080) per year in Beijing."
<a href="/images/2016/06/10/Screen%20Shot%202016-06-10%20at%2010.17.54%20AM.png" target="_blank">Click to enlarge</a>
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The report said The Victorian government, for example, charges about AUD$10,660 (RMB¥51,552) for international students to study in a public primary school.
"Melbourne’s private schools charge on average AUD $23,744 annually. Chinese parents will end up with a 50 percent savings by sending their kids to the best private primary schools in Melbourne instead of Beijing’s international schools," Secret Agent said.
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<img src="/images/2016/06/10/Screen%20Shot%202016-06-10%20at%2010.19.39%20AM.png" alt=""> 
"After comparing recent property sales in some of our top performing public primary school zones, it was found that it costs AUD$1,380,180 on average to buy a 656sqm house in Melbourne’s school zones, compared to AUD $1,982,708 (¥9,588,378) for an apartment in Beijing.
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"So how does the total savings add up to $360,000? The cost of living in Australia would also have to be taken into consideration. The Department of Immigration and Border Protection has financial requirements that must be met in order to receive a student visa, which is a minimum spend of $18,610 per adult and $6,515 per child for each year they live in Australia.
<a href="/images/2016/06/10/Screen%20Shot%202016-06-10%20at%2010.24.20%20AM.png" target="_blank">Click to enlarge</a>
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"To calculate the total spendings for a Chinese parent and his or her child to reside and study in Australia, a 10% increase on tuition fees and 2.5% inflation on minimum living costs in Australia was assumed. The result is a staggering saving of AUD$359,788 if Chinese parents chose to send their children to Australia instead of Beijing for primary school studies.
"The majority of the savings comes from the difference in property price between Melbourne and Beijing’s school zones, and this also applies to other major cities in China. The Australian government’s intention for the new visa policy is to improve our economy by exporting our education to overseas students. In Secret Agent’s opinion, under the current FIRB rules, the price of properties in good school zones will continue to accelerate. We could also see prime inner city properties start to become acquisition targets. Many of these period homes have been "off limits" to the foreign purchaser. This may no longer be the case. 
"If Chinese parents choose to send their children here for their studies, they will be considered as a temporary resident since they will remain in Australia for a continuous period of more than 12 months. Generally, temporary residents can purchase any residential real estate in Australia once they apply for and receive foreign investment approval. The downside is that they will have to sell the property within three months from when it ceases to be their principal place of residence. This makes off- the-plan townhouses the most attractive purchase to Chinese buyers, as they are cheaper and require less maintenance than big established houses. They can also be kept as an investment property once they leave Australia."
For more information from Secret Agent, <a href="https://secretagent.com.au" target="_blank">click here</a>.
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po-LsXgBTHBmX

Chinese parents to save $360,000 from new student visa

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There’s a chasm-sized gap between perception and reality in Australian real estate.
A recent survey of consumers by MLC found there’s a widespread belief that homes are beyond the grasp of first-time buyers and that future generations won’t be able to afford to buy. That’s the common perception and it comes as no surprise, given that mainstream media keeps banging on about an affordability crisis, amid claims that the dream is dead.
The reality is quite different. As I wrote last week, the latest Affordability Index from the HIA has found that affordability nationally is the best it’s been in over five years and that some parts of Australia have the best level of affordability since 2003. Clearly, Sydney is an exception, although there was improvement in the March Quarter.
Reinforcing that point is the actual activity of first-time buyers. The latest NAB Quarterly Australian Residential Property Survey indicates that 33.5% of sales of new dwellings in the March Quarter were to first-time buyers.
That suggests first-time buyers are the dominant buying force in new properties, having a greater market share than owner-occupiers (other than first-home buyers), Australian investors and foreign investors.
In addition, the NAB survey finds that 26 percent of established dwellings were sold to first-time buyers – also a strong market share, though less than owner-occupiers (other than first-home buyers), who make up 43 percent of the market for established homes.
There’s a stark contrast there is the results of two surveys. The MLC survey found most people think young buyers are being priced out of the market and that 58% believe the next generation will be forced to rent all their lives. But the NAB survey found first-time buyers are out there in force and, in the new-home sector, are dominating the market.
Why so different? It’s because the NAB report was based on a survey of property professionals who are at the coalface daily and know what’s going on. The MLC survey was based on consumers, whose perceptions about what’s going on are influenced by media sound bytes.
Media reportage of real estate is overwhelmingly negative and that’s reflected in the MLC survey results – which are interesting but ultimately worthless because they contradict reality.
Generally, the NAB survey found that industry sentiment improved in the March Quarter, after having fallen for the previous three quarters.
Sentiment was strongest in Victoria. This makes sense, because while the Sydney boom is over, Melbourne still has momentum.
Expectations for price growth are strongest in Victoria. Melbourne and Brisbane are expected to be the best price performers in 2016, while Perth (also not surprising) has the weakest expectations for prices among the capital cities.
The findings for the apartment markets also make sense. Unit prices are expected to fall in Perth (because of a weak economy) and Melbourne (because of oversupply).
The survey found foreign buyers were less of a force in the market – and have switched their focus from NSW and Victoria to Queensland, where foreigners account for 20 percent of sales of new properties.
This reflects the ramping up of marketing of high-rise units in Brisbane and on the Gold Coast, two markets that smart investors will avoid.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
 
 
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terryryder-YECXbqmri2

Sydney boom over, Melbourne has momentum and avoid Brisbane: Terry Ryder

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The image-makers who groom politicians think we’re simplistic creatures easily led. Primary school mantras like “stop the boats” will get us every time, apparently. Of course, if they were right, no one would ever lose an election. 
Queensland’s Premier Anna Palaszczuk, not the sharpest tool in the political shed, clearly thinks the “jobs, jobs, jobs” song sheet is the best one to sing from. She and her ministers are chanting this mantra in front of cameras every day.
But it doesn’t matter how good the song, if the singer is tone deaf it’s still going to jar with the listener.
So the Premier’s big pitch to justify a mining lease to Indian corporate villain Adani for a mega-billion coal mine - jobs for Queenslanders, jobs for locals, jobs for everyone north of the NSW border - had a hollow sound. You could see in her delivery at the press conference that she didn’t really believe it herself. 
She is no doubt aware of Adani’s track record of being big on rhetoric and small on delivery. Already the company is pulling back from earlier statements about starting work and there is unlikely to be any action in the next 12 months.
The company won’t even make the key investment decision until some time in 2017. It has been unable to find a bank willing to lend for the project and there will continue to environmental opposition and court challenges.
 As one major newspaper commented: “Much is the wailing and gnashing of teeth at the move by the Queensland government to approved the project, but this approval is entirely political. It’s all about the appearance of commitment to jobs – jobs that will never occur unless the coal price doubles.”
If and when the project goes ahead, the modern trend of flying in your workers from distant locations and accommodating them in temporary workers camps will seriously dilute the economic and property market benefits in Central Queensland.
To recap, this week the Queensland Government issued the mining lease Adani needs to proceed with its Carmichael mega coal mine in the Galilee Basin. I’ve seen many different cost estimates for this project, anywhere between $8 billion and $15 billion.
Whichever way you look at it, it’s a massive project. The proponent says there will be 4,875 jobs in building and operating the mine, plus 1,520 jobs in building and operating the rail link to Abbot Point. There will be, allegedly, a $4.1 billion boost to the economy. 
But can we believe the numbers about jobs and economic benefits, and will it make any difference to ailing property markets in Central Queensland?
The mine site is a long way from major population centres. This will be a FIFO operation with temporary accommodation camps set up close to the mine. And we’ve seen what happens to local towns when mining companies bypass the local communities and hire workers from outside the area, flying them in from distant locations.
Moranbah, Gladstone and Emerald are examples. All attracted major development of new dwellings from builders who expected rising demand for local houses and services, not understanding that most would be flying in and staying in camps. Massive oversupply resulted, causing rents and property values to fall. 
The existence of major resources developments puts pressure on local towns, for example its medical services - but they derive few of the benefits because most of the workers don’t live locally and they don’t spend locally. They take their fat pay packets back home, which might be Brisbane, the Sunshine Coast, Sydney or Perth.
So the core message is that there will be no property boom, if and when Adani eventually does go ahead with its mega project.
And, in terms of jobs for locals – there will be few, if any.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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