<p>One of the most significant beachfront projects ever proposed for the small suburb of Miami on the Gold Coast, has taken a major step forward.&nbsp;Monaco Property Group has secured approval for <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-qld-4220">NALU</a>, a $500 million development comprising just 45 ultra-luxury residences on the iconic former Nobby’s Outlook site.</p>

<p>Acquired by <a href="https://www.apartments.com.au/developers/monaco-property-group">Monaco Property Group</a> in 2024 for $70 million, the rare 7,238 sqm Marine Parade parcel boasts more than 80 metres of uninterrupted ocean frontage.</p>

<p>With approvals now secured, Monaco Property Group will move NALU into its delivery phase. The project has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, who collaborated with&nbsp;<a href="https://www.apartments.com.au/landscape-architect/ldg-landscape-architecture">LDG Landscape Architecture</a> and <a href="https://www.apartments.com.au/interior-designers/tom-mark-henry">Tom Mark Henry Interiors</a>&nbsp;to create the low-rise building, its landscaping, and interiors.</p>

<p><img alt="NALU" data-entity-type="file" data-entity-uuid="3fdf578e-7cc4-4b17-bbc2-ba853522a5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/122_Marine_Parade_002.jpg?VersionId=zFhJWVzX0jmCO.5iIIxNELImHesTjWS4" /></p>

<p>Residences will range from 237 sqm layouts to beachfront homes exceeding 1,400 sqm.</p>

<p>At the heart of the project is a 2,200 sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service.</p>

<p>Jonathan Grasso, Co-Founder of Monaco Property Group, said the council approval marks an exciting milestone for NALU, which will launch in Q1 2026.</p>

<p>“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life," Grasso said.</p>

<p>“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”</p>

<p><img alt="NALU" data-entity-type="file" data-entity-uuid="6ae8545b-87ca-4dea-90ed-ac273ec6515d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image7.jpg?VersionId=Wnmie4bu3x2WQonnG4Pwmh39NdZVKeOV" /></p>

<p>Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease.&nbsp;</p>

<p>Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.</p>


Joel Robinson

Monaco Property Group approved for $500 million NALU apartments on Miami beach

<p>The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.</p>

<p>The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=806]</p>

<p><a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.</p>

<p>“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.</p>

<p>“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.</p>

<p>“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=799]</p>

<p>In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.</p>

<p>The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=814]</p>

<p>Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.</p>

<p>“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.</p>

<p>“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=807]</p>

<p>The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.</p>

<p>Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.</p>

<p>[smartcode_project_cta:default project_id=112194]</p>


$200 million Corallo Palm Beach launches with limited apartment release

<p>In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.</p>

<p>The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.</p>

<p><img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" /></p>

<p>Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.</p>

<p>The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;</p>

<p>"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.</p>

<p><img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" /></p>

<p>They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.</p>

<p>"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."</p>

<p><img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" /></p>

<p>The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.</p>

<p>Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.</p>

<p>One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.</p>


First look: One Collection advances plans for Castle Hill apartments

<p>At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.</p>

<p>Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.</p>

<p>Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.</p>

<p>[smartcode_project:default project_id=114216 project_image_fid=3784]</p>

<p>Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.</p>

<p>The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.</p>

<p>Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;</p>

<p><img alt="Trielle at Yarra's Edge, Docklands" data-entity-type="file" data-entity-uuid="c00be724-b0f1-47c0-afed-54f829870704" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerus%20sub-penthouse.png?VersionId=Uktd61kpLSqNjwJeDFs7IaZ3xgLlDQmu" /></p>

<p>Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.</p>

<p>“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.</p>

<p>“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”</p>

<p>[smartcode_project:default project_id=114216 project_image_fid=3777]</p>

<p>The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.</p>

<p>With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.</p>

<p>Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.</p>

<p>[smartcode_project_cta:default project_id=114216]</p>


Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

<p><a href="https://www.apartments.com.au/developers/jwland-development">JWLand</a>’s De Burgh, the final residential release within the Northbourne Village precinct in Lyneham, is nearing completion just as the Federal Government’s Home Guarantee Scheme prepares for its most significant expansion to date.&nbsp;</p>

<p>From October 2025, the scheme will allow first home buyers to enter the market with just a five per cent deposit and no lenders mortgage insurance (LMI), removing some of the most common barriers to ownership.</p>

<p>With <a href="https://www.apartments.com.au/new-apartments/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham-act-2602">De Burgh</a> on track for residents to move in by late spring 2025, the timing creates a strong opportunity for first home buyers seeking brand-new apartments in Canberra’s sought-after Inner North.&nbsp;</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212888]</p>

<p>The project delivers 350 residences across two buildings, with layouts ranging from compact studios through to one, two, and three-bedroom apartments.</p>

<p>JWLand has tailored the development for long-term liveability, integrating natural light, privacy and outdoor space into each home. Ground-floor residences feature private courtyards, while upper levels benefit from generous balconies.</p>

<p>Kitchens are fitted with Fisher &amp; Paykel appliances, and all apartments include ducted reverse-cycle air conditioning with smartphone app control for lighting and climate.&nbsp;</p>

<p>Shared resident facilities include a rooftop garden, gym, lounge and parcel lockers, alongside landscaped green space within the precinct.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=267376]</p>

<p>For buyers, the expanded Home Guarantee Scheme removes income caps and introduces unlimited places, making it more accessible than ever. With most De Burgh apartments priced under $1 million, they fall well within the updated eligibility thresholds.</p>

<p>The policy changes provide first home buyers with greater certainty and a smoother path to finance. Combined with the quality and location of De Burgh, the expanded scheme is expected to draw a new wave of buyers to Canberra’s Inner North.</p>

<p>Residents will benefit from the project’s central setting, just 600 metres from the light rail and three kilometres from Canberra’s CBD. The precinct is bordered by the <a href="https://www.apartments.com.au/developments/lyneham-act-2602">Lyneham</a> wetlands and sits within easy reach of cafes, restaurants, schools and the ANU.</p>

<p>With completion scheduled for late 2025, De Burgh is set to be among the first major apartment projects to meet the expanded scheme head-on, offering first-time buyers a realistic pathway to ownership in one of Canberra’s most connected neighbourhoods.</p>

<p>[smartcode_project_cta:default project_id=139989]</p>


JWLand’s De Burgh aligns with expanded Homebuyer Scheme, opening doors for first home buyers in Canberra’s Inner North

Property Listings

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<p>Listings are up 2.2 percent in Melbourne on this time last year, which is the only capital city to have more stock for sale than last April.</p>

<p>Darwin sees the biggest drop in overall listings, down by 35.9 percent according to CoreLogic.</p>

<p>Other cities aren't too far behind with Canberra, Brisbane, Adelaide and Hobart all down more than 30 percent in stock levels of private treaty listings.</p>

<p><strong><em>Related article: <a href="/news/urbans-top-five-melbourne-apartments-with-5-star-hotel-amenities-for-sale-in-april-2021">Urban's top five Melbourne apartments with 5-star hotel amenities for sale in April 2021</a></em></strong></p>

<p>Perth is down 22 percent.</p>

<p>Sydney has the lowest stock dip, at 16 percent.</p>

<p>The chart includes house and apartment resale listings.</p>

<p><img alt="" height="379" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cl_2021_cc_listings.jpg" width="644"></p>

<p>There are currently 83,000 property listings across the nation, which is 17 percent down on the same time last year.</p>

<p>The level of new stock, ie fresh offerings over the past four weeks, is not a consistent between the capitals.</p>

<p>[smartcode_project:default project_id=2772]</p>

<p><strong><em>Related article: <a href="/news/vic/april-2021-the-top-5-two-bedroom-apartments-for-investors-in-melbourne-under-800-000">The top 5 two-bedroom apartments for investors in Melbourne under $800,000</a></em></strong></p>

<p>Perth sees a 64 percent jump in vendors arriving in the market.</p>

<p>Melbourne, Darwin and Adelaide have also seen a spike in fresh listings.</p>

<p>Hobart has seen a contraction in vendors.</p>
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April 2021 sees far fewer overall listings than the same time in 2020

jchancellor

Melbourne is the only capital city with more listings than last April: CoreLogic

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<p>The number of national capital city established homes newly advertised for sale over the week ending February 7 surged by 11.5% compared to the previous week's total, according to Dr Andrew Wilson, chief economist at the property platform Archistar.</p>

<p>The latest data shows the national total new listings over 2021 so far have are now 7 percent higher than recorded over the same period in 2020.</p>

<p>Melbourne saw the biggest early February jump, up by 28.% followed by Sydney 15%, Adelaide 11.5% and Brisbane up 10%.</p>

<p>Dr Wilson noted newly listed home numbers for Perth however fell by 36% over the week clearly reflecting the impact of its recent coronavirus lockdown.</p>

<p>Melbourne also reported the most newly listed established homes for sale over the past week - 12.7% higher than Sydney’s total.</p>

<p>“Newly advertised listing numbers can be expected to continue to surge over coming weeks and track higher than last year’s results at the same time - particularly as the autumn home auction season gathers pace,’ Dr Wilson said.</p>

<p>“More listings will be good news for buyers offered more choices – but they can expect to pay higher prices in a hot market,” he added.</p>

<p>Archistar is an Australian property platform which combines architectural design with artificial intelligence to inform decision-making in property and is used by agents, developers, architects, government planners and homeowners nationwide.</p>

<p>.</p>
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The latest data shows the national total new listings over 2021 so far have are now 7 percent higher than recorded over the same period in 2020

Property listings starting to rise

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<p>SQM Research has calculated national residential property listings decreased in January by 2.9%, falling from 272,999 in December 2020 to 265,116. </p>

<p>Compared to 12 months ago, listings were down by 10.5%.</p>

<p>All capital cities experienced seasonal decreases in property listings over the month except for Perth which had a 0.1% increase in listings.  </p>

<p>The largest decrease was in Melbourne of 4.7%.</p>

<p>Year-on-year listings also show larger declines for most capital cities with the exception of Sydney and Melbourne, both recording increases of 4.5% and 21%, respectively.</p>

<p>Nationally, new listings (over the past 30 days) decreased by a 24% over the course of January with 16,234 less properties on the market. </p>

<p>Hobart’s new listings decreased by a significant 33.28%, followed by Canberra which decreased by 26%.  Sydney recorded the lowest decrease in new listings of 2%.</p>

<p>The month of January traditionally records falls in properties listed for sale as the market is still in a summer holiday mode. SQM’s Louis Christopher said.</p>

<p>“This year was no exception. </p>

<p>“However, when we consider the number of new listings compared to January 2020, there was a material rise in nearly all cities.</p>

<p>“This finding is consistent with the observed early start to the auction market over January and February,” he added.</p>
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Property listings decline in January: SQM Research

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<p>The traditional Christmas property listing decline saw listings fall -7.9 per cent over December, down from 296,267 in November to 272,999, figures released by SQM Research show.</p>

<p>Sydney drove the decline, down -18.3 per cent, although their 26,038 total listings in December 2020 was 13.8 per cent higher than it was in December 19 (22,888).</p>

<p>Listings in Melbourne were a huge 30.5 per cent higher than in December 2020 compared to 2019. They have 39,475 listings on the market compared to 30,247 12 months ago.</p>

<p>New listings were unsurprisingly down by 17 per cent nationally in December, with 13,680 less new properties listed for sale.</p>

<p><img alt="" height="564" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sqm_december_listings.jpg" width="1200"></p>

<p>Sydney’s new listings decreased by 41.8 per cent followed by Melbourne which decreased by 27.1 per cent. </p>

<p>Hobart was the only capital city that recorded an increase in new listings of 0.8 per cent.</p>

<p>Louis Christopher, managing director of SQM Research said it's no surprise to see listings decline at this time of the year.</p>

<p>“The month of December traditionally records falls in properties listed for sale as it is the start of the festive and summer holiday period," Christopher says, adding however that activity was strong all the way through to the last weekend before Christmas.</p>

<p>He said this was unusual and likely reflected a degree of catch up from the property inspection restrictions earlier in the year.</p>

<p>"Going forward I believe listings activity is going to remain strong in early 2021 but could weaken on the wind up of Job Keeper in March 2021.</p>

<p>"We believe Job Keeper has provided support to the market over 2020.”</p>

<p> </p>

<p> </p>
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New listings were down by 17 per cent nationally in December, with 13,680 less new properties listed for sale.

Property listings tail off in December, but activity strong through to Christmas: SQM Research

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<p>Auction volumes were down week on week across the combined capital cities, with a total of 1,185 homes scheduled for auction. The lower activity which we have historically noted over school holiday periods, returned a preliminary clearance rate of 65.1%. </p>
<p>Across Australia’s two largest auction markets, the lower activity across both cities saw the clearance rate improve.</p>
<p>There were 439 Melbourne homes taken to auction returning a preliminary clearance rate of 64.3%, which was higher than last week’s preliminary figure of 62.7% across 645 auctions, with a final result of 61%.</p>
<p>In Sydney, 563 homes were auctioned this week returning a preliminary clearance rate of 68.1%, higher than last week’s 66.9% preliminary result, when a higher number of auctions were held (644). The final clearance rate last week came in at 62.9%.</p>
<p><img src="https://www.urban.com.au/images/2020/7/6/CL%20JULY%207%20CC.JPG" alt=""></p>
<p>Over the past 12 months across the capital city markets every city has seen a decrease in total listings with Melbourne faring the best and Perth as well as Canberra being hit the hardest.</p>
<p>Across new listings however, both Melbourne and Sydney have seen large increases around 20% with the only other market seeing an increase being Perth.</p>
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j.ballantyne1990-6AQqhLzZaK

New listings soar across Melbourne and Sydney: CoreLogic

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<p>EXPERT OBSERVER</p>
<div>A quick look at today's arrivals and departures figures. </div>
<div> </div>
<div>Well, it's a bit like the famous old chart chronicling 1,001 days in the well-being of a Thanksgiving turkey.</div>
<div> </div>
<div>Chinese short-term arrivals into Australia fell to a seasonally adjusted total of just 19,500 in February, to be down by about 90 per cent. </div>
<p> </p>
<div class="separator"><a href="https://1.bp.blogspot.com/-6i1Av1jlptY/XpaY17aaUAI/AAAAAAAA1O4/101Tn39UUQw_-P0YcoS3-TsyQN-nZEV1wCNcBGAsYHQ/s1600/China.jpg"><img src="https://1.bp.blogspot.com/-6i1Av1jlptY/XpaY17aaUAI/AAAAAAAA1O4/101Tn39UUQw_-P0YcoS3-TsyQN-nZEV1wCNcBGAsYHQ/s640/China.jpg" width="640" height="354" data-original-height="803" data-original-width="1447"></a></div>
<p>Ouch.</p>
<div>There were still some 72,500 international arrivals for the purposes of education in the month, but February is normally one of the two months of the year wherein far higher numbers are expected, as students are typically expected to return from their Xmas break.</div>
<div> </div>
<div>And it was not so this year, as many international students were stuck in China or elsewhere. </div>
<p> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-ZeXFrYQDY6A/Xpa-UDHYKVI/AAAAAAAA1Pg/LSoyrsL_PFcFBq3Dzi4CLb_i2Tv4c9AtgCNcBGAsYHQ/s640/A3.jpg" width="640" height="370" data-original-height="804" data-original-width="1388"></div>
<div class="separator"> </div>
<div>Australia has long seen its economy juiced by relatively high intake resulting from net overseas migration, international students, and tourism from China and other parts of Asia. </div>
<div> </div>
<div>To date, there's been less impact showing up in the figures for permanent and long-term movements.</div>
<div> </div>
<div>Indeed, there were still some 97,840 permanent and long term arrivals in the month, and only 32,930 long-term departures, although the next intake is often higher than this in sunny February. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-mkdk1MBywwg/Xpa9GHqK5aI/AAAAAAAA1PY/qxn4apeYbIkrv_iGpZS-z2yuVw52bMJBQCNcBGAsYHQ/s640/A1.jpg" width="640" height="368" data-original-height="804" data-original-width="1395"></div>
<div> </div>
<div>These figures will naturally slow through the remainder of Q1 and Q2, however. </div>
<div> </div>
<div>Thus while the economy might see a staged re-entry to business trading, things can't really 'return to normal' until the borders can be opened again, which must obviously take time. </div>
<div> </div>
<div>Out of interest, the IMF is forecasting a very strong rebound for Australia's economy in 2021 - faster than the US, UK, Germany, Canada, or France - though how they actually arrived at these figure is anyone's guess. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-lG7XeYPpXJc/XpbmleYO-jI/AAAAAAAA1QA/xc0cVVG5gXsrOWZmtShtXxNqO8HIOs9rACNcBGAsYHQ/s640/IMF.jpg" width="640" height="346" data-original-height="758" data-original-width="1398"></div>
<div> </div>
<div><span style="text-decoration: underline;"><em>Source: Joiner, IFM Investors</em></span></div>
<div> </div>
<div>A sceptic might justifiably ask how their 2020 forecasts are tracking so far...</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Listings down</span></strong></div>
<p>There's not been too much sign of forced selling in the housing market just yet, with new listings all but cut in half.</p>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-Fzr9yrwd84U/Xpa3PsmxG2I/AAAAAAAA1PQ/sX72dYuvdc40IQ0nLSSBnI2KrKNTjKzsQCNcBGAsYHQ/s640/EVmOH_7UMAErMCP.jpg" width="640" height="376" data-original-height="488" data-original-width="828"></div>
<p><em>S</em><em>ource:</em><em> My Housing Market</em></p>
<p>Resi construction is also forecast to all but dry up this year, with annual dwelling commencements tipped to dip below 100,000 over the coming quarters (UBS), which would the lowest rate of new supply since 'at least 1960' (h/t Scutty).</p>
<p>In fact, we're still seeing plenty of competition for the limited amount of new stock in blue chip areas, and even some examples of prices going above price guides.</p>
<p>It's extremely doubtful that's the case in outer suburban areas or regional hubs, though, as rising unemployment and underemployment begin to bite</p>
<p><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></p>
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pwargent-M4siyDbqQY

International arrivals at multiyear lows: Pete Wargent

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<p>EXPERT OBSERVER</p>
<p>In what feels like a repeat of the pre-election period from 2019, there's really not much new stock coming to the capital city housing markets right now.</p>
<p>SQM Research showed that this has been reflected in tighter stock levels across the country as at April 2020, with all capital cities recording substantial year-on-year declines. </p>
<p class="separator"><img src="https://1.bp.blogspot.com/-1EMCEYVnE9o/Xrd9IoMV84I/AAAAAAAA1pY/U9Ev7hxZbiUOzGWnQKfMQ8FqNffTkHvUQCNcBGAsYHQ/s640/SQM1.jpg" width="640" height="372" data-original-height="794" data-original-width="1363"></p>
<p>CoreLogic also reports the lowest level of supply in years. </p>
<p class="separator"><img src="https://1.bp.blogspot.com/-LAywSqFu4mo/Xrd9-heUtvI/AAAAAAAA1pk/c-0u1ixbaY0OBJ2GO-X4wzempH65CNNsACNcBGAsYHQ/s640/CL1.jpg" width="640" height="386" data-original-height="677" data-original-width="1120"></p>
<p>We're still actively searching for properties despite the logistical challenges, and a character home came up for sale on Brisbane's northside this week, which looked as though it may be of some interest for one of our clients. </p>
<p>Saturday open homes aren't allowed just yet, although they will be again very soon given that Queensland is fairly consistently reporting zero new cases of COVID-19 now.</p>
<p>Actually, with the exception of the Cedar Meats cluster in Victoria, Australia is recording close to zero cases per day, while ICU cases have declined to just 17.</p>
<p><img src="https://1.bp.blogspot.com/-v7EGm6iwarc/XreUQkA59HI/AAAAAAAA1pw/03OrdAGUMg4j0OeoAtCVRWiWHkBMEI1zQCNcBGAsYHQ/s640/CV1.jpg" width="640" height="362" data-original-height="800" data-original-width="1408"> </p>
<p>Agents can, however, take people through in groups of up to half a dozen at a time. </p>
<p>This particular house had 27 groups through yesterday and was locked away under offer before the day was out. </p>
<p>Huh.</p>
<p>Pro tip: call your bank and ask for a lower mortgage rate, as there are some extraordinarily attractive deals out there now, starting from a low 2-handle. </p>
<p><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></p>
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Listings tighten across the nation, a pre-election repeat: Pete Wargent

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<p class="post-title entry-title">EXPERT OBSERVATION</p>
<div>A big jump in listings in Melbourne and Canberra this month, with Melbourne's available stock now comfortably exceeding 39,000, according to SQM Research's latest data and media release.</div>
<div> </div>
<div>There were small declines in October for Brisbane, Adelaide, and notably Darwin and Perth.</div>
<div>
<br>But the two major capital cities are well up from last year.</div>
<div> </div>
<div><a href="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s1600/SQM1.jpg"><img src="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s640/SQM1.jpg" width="640" height="370" data-original-height="798" data-original-width="1375"></a></div>
<div>
<br>It took a bit longer to get there, but Melbourne has now well and truly joined Sydney with its slowing market, with stock levels leaping 5.9 per cent higher in the month of October alone.</div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s1600/SQM2.jpg"><img src="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s640/SQM2.jpg" width="640" height="376" data-original-height="799" data-original-width="1360"></a></div>
<p class="post-body entry-content">From a year earlier, Melbourne listings are up by 24.3 per cent, suggesting very slow sales activity in the Victorian capital.</p>
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Melbourne stock surge: Pete Wargent

<html><body>
<p>EXPERT OBSERVER</p>
<p>The number of new listings being added to the combined capitals housing market has seen a hefty 44% rise from the depths of the winter slowdown in early July through to the first week of October, however that hasn’t been enough to push fresh listing numbers in line with previous years.  The number of new capital city listings over the past twenty eight days was tracking at the lowest level for this time of the year since CoreLogic started tracking real estate listings in 2007.</p>
<p><img src="https://www.corelogic.com.au/sites/default/files/2019-10/new_and_total_listing_capital_cities.png" width="600" height="399"></p>
<p><br>22,939 fresh real estate listings were added to the capital city housing markets over the past twenty eight days; 13% lower than the same time last year and 15% below the thirteen year average.   <br><br>New stock levels are down across every capital city, with the largest fall in Darwin where newly advertised listings are 36% lower than a year ago and 63% below the highs recorded in 2007.   Darwin housing conditions have been weak since the middle of 2014, so its understandable that home owners would be reluctant to list their property under such challenging selling conditions.  </p>
<p><img src="https://www.corelogic.com.au/sites/default/files/2019-10/new_and_total_listing_capital_cities_chart.png" width="600" height="370"></p>
<p><br>The same logic can’t be used for stronger markets though.  Properties in Hobart are averaging just 28 days to sell and homes are selling, on average, in less than fifty days across Melbourne, Sydney and Canberra, yet vendors seem to be lacking confidence to put their home on the market with new listing numbers down in these cities also.  Auction clearance rates remain high across the main auction markets and prices are under renewed upwards pressure.<br><br>So why the lack of new listings in cities where housing market conditions are picking up.   It’s reasonable to expect there would be some level of pent up demand amongst home owners who were unwilling to sell during the downturn and were waiting for selling conditions to improve.<br><br>Potentially a partial explanation can found in persistently low levels of consumer sentiment.  The Westpac-Melbourne Institute Index of Consumer Sentiment recorded its lowest reading since mid-2015 in October.  With Australians increasingly concerned about their finances and the economic outlook, it may be the case that prospective vendors are choosing to sit on their hands until they feel more confident.  A property transaction, whether it be an option to sell or buy, is a high commitment decision that is much harder to make during periods of uncertainty. <br><br>Another explanation is the recency of the improved market conditions.  Capital city dwelling values were still trending lower only three months ago and the change to more positive conditions wasn’t widely anticipated.  Realistically it can take some time for home owners to get their affairs in order and prepare their property for sale.  With this context, a lag between the improved market conditions and a more substantial rise in new listings isn’t all that surprising.  </p>
<p><img src="https://www.corelogic.com.au/sites/default/files/2019-10/capital_city_listing_summary.png" width="600" height="342">Capital City Listing Summary</p>
<p><br>Another barrier that may be preventing a more significant lift in listing numbers is high transaction costs, especially if the home owner is downsizing or upgrading which would incur a stamp duty payment.<br> <br>With market activity rising, active buyers are becoming more competitive across a shallow pool of listings which is adding some urgency to the market.  With increased competition, vendors are regaining some of the leverage they lost through the housing downturn and buyers could be feeling the first pangs of FOMO as they see properties selling faster and prices rising. </p>
<p><img src="https://www.corelogic.com.au/sites/default/files/2019-10/monthly_sales_combine_capital_cities.png" width="600" height="282">Monthly Sales, Combined Capital Cities</p>
<p><br>Historically the seasonal peak in new listing numbers is around the second week of November, so there is still some time for the spring / early summer listing season to ramp up.  If the market recovery continues at the same pace as the last few months its almost certain that more home owners based in the markets showing strength will take advantage of the renewed level of buyer demand.</p>
<p><em><em><strong>TIM LAWLESS</strong> is the CoreLogic head of research</em></em></p>
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tlawless-5VLUrbAk9s

Spring hasn't quite sprung for real estate listings: Tim Lawless

<html><body>
<p>EXPERT OBSERVER</p>
<p>There's not been too much sign of forced selling in the housing market just yet, with new listings all but cut in half.</p>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-Fzr9yrwd84U/Xpa3PsmxG2I/AAAAAAAA1PQ/sX72dYuvdc40IQ0nLSSBnI2KrKNTjKzsQCNcBGAsYHQ/s640/EVmOH_7UMAErMCP.jpg" width="640" height="376" data-original-height="488" data-original-width="828"></div>
<p><em>S</em><em>ource:</em><em> My Housing Market</em></p>
<div> </div>
<p>Resi construction is also forecast to all but dry up this year, with annual dwelling commencements tipped to dip below 100,000 over the coming quarters (UBS), which would the lowest rate of new supply since 'at least 1960' (h/t Scutty).</p>
<p>In fact, we're still seeing plenty of competition for the limited amount of new stock in blue chip areas, and even some examples of prices going above price guides.</p>
<p>It's extremely doubtful that's the case in outer suburban areas or regional hubs, though, as rising unemployment and underemployment begin to bite</p>
<p><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></p>
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