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

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

Joel Robinson

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

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

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

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

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

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

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

Property Listings

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The number of residential property listings nationally fell -1.2 per cent in September, according to the latest data from SQM Research. 
They dropped from 293,053 in August to 289,566, which is -7.4 per cent down on listings 12 months ago.
New listings were up 2.4 per cent however over September nationally, with 1,447 more listings hitting the market. And that's taking in to account Melbourne's -41.3 per cent decline in new listings.
Louis Christopher, managing director of SQM Research, says the fall in listings is a little abnormal for the spring season.
"It has been predominantly driven by two factors which include sharp falls in new listings for Melbourne over the month; as well a sizeable falls in older listings across the country.
<img src="https://www.urban.com.au/images/2020/10/6/SQM%20stock%20levels.png" alt="">
"This second reason may point to an increase in absorption rates.
"In other words, there may have been increases in buyer activity over the month. There has also been other evidence of increases in buyer activity.
"This includes the rises in asking prices, the rises in auction clearance rates and the increases in housing finance approvals.”
Only Sydney and Perth bucked the trend of a drop in listings. Sydney saw its listings jump 1.8 per cent and Perth 0.9 per cent.
Sydney has 9.2 per cent more listings than it had 12 months ago. 
 
 
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jrobinson-rf4aSBido9

Total property listings drop in September: SQM Research

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National residential property listings surprisingly decreased in June, by one percent, figures released by SQM Research have showed.
Listing were down from 304,137 in May 2020 to 301,140 in June.
Listing were down 7.5 per cent compared to this time last year.
Most capital cities experienced decreases in property listings over the month except for Melbourne and Perth, whilst Brisbane remained steady.
The largest listings decrease was in Hobart at 7.5% followed by Canberra by 5.7% and Darwin 5.3%. Sydney’s listings only decreased by 1.6%.
Melbourne and Perth were the only capital cities to record increases in listings, 2.7% and 0.4% respectively.
Year-on-year listings show more significant declines for nearly all capital cities with Darwin recording a high 22.2% decline, followed by Perth with a 15.4% decline. Melbourne however bucked the trend and increased listings by 10.2% this time last year.
<img src="https://www.urban.com.au/images/2020/7/2/Stock%20SQM.JPG" alt="">
Louis Christopher, Managing Director of SQM Research said, “It is not unusual for listings to decrease in June as it is the start of the colder winter months."
There was a solid increase in new listings. Indeed, we have more new listings on the market compared to this time last year."
"Listings that were coming up to 90 days dropped the most, indicating that some of the older stock had either been withdrawn or was selling during June."
"Overall, these numbers on their own would indicate fairly normal activity in the housing market. Of course, we know that conditions are far from normal. And this is illustrated in the fall in vendor asking prices for the month.”
Asking Prices
Capital City average asking prices decreased by 0.8% for houses and 0.4% for units, over the month to 30thJune 2020. Unit asking prices are now at $571,000 and houses $989,100.
Compared to a year ago, the capital city asking prices posted increases of 8.8% for houses and 1.3% increase for units.
Over the month, most capital cities recorded marginal asking price increases however Sydney’s asking prices continue to decline to now record declines of 0.9% for houses and 1.3% for units. Melbourne recorded a 1.5% decrease in house prices but units increased by 0.7%
Strongest monthly growth was seen in Hobart’s unit prices with a 3.1% increase, followed by Perth’s house prices which had a 1.3% price increase.
Year on year, Darwin experienced declines in house and unit prices, 0.6% and 2.8% respectively, and Perth experienced declines in unit prices only of 1.3%. Sydney recorded an 11.5% increase in house price growth and a small decline of 0.1% for units this time last year whilst Melbourne recorded 9.9% increase in houses and a 5.4% increase for units.
All other capital cities recorded growth this time last year with Hobart recording a huge 19.8% house price growth and 10.4% unit price growth, this time last year.
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j.ballantyne1990-6AQqhLzZaK

Residential property listings fell in June: SQM Research

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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%. 
Across Australia’s two largest auction markets, the lower activity across both cities saw the clearance rate improve.
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%.
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%.
<img src="https://www.urban.com.au/images/2020/7/6/CL%20JULY%207%20CC.JPG" alt="">
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.
Across new listings however, both Melbourne and Sydney have seen large increases around 20% with the only other market seeing an increase being Perth.
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New listings soar across Melbourne and Sydney: CoreLogic

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EXPERT OBSERVER
COVID-19 has brought about downside risks for the economy and housing market.
A 0.3% decline in March GDP confirmed a technical recession is underway in Australia, total wages paid fell 5.4% between mid-March and early May, and Australian dwelling market values saw the first month-on-month decline since June 2019. But one surprising sign of stabilising emerged in May.
Home sales have risen, with home owners testing the market, and new listings are rising. In fact, buyer demand is outweighing the volume of new listings.
 Strong absorption of new listings over May
This absorption can be observed across new and total listings data.
CoreLogic counts an advertised property as a ‘new’ listing if it has not previously been seen on the market in the past 72 days.
Total listings are the sum of new and re-listed stock for sale on the market. The count of new and total listings are typically reported in rolling 28-day periods.
In the 28-days to 31st of May, new listings rose 22.4% on the previous period, but total listings fell -2.9%. This means that even as more new stock came onto the market, buyer activity offset the additional stock.
This is an especially important trend to follow at the moment. As Australians face record high levels of housing debt, job and income losses could lead to a rise in urgent or distressed sales. The latest financial stability review outlined that for each percentage point rise in unemployment, there has typically been an 80 basis point rise in the rate of mortgage arrears.
If a large volume of distressed properties are listed simultaneously, this could put downward pressure on property values and make it harder to recoup equity from distressed sales.
This is largely why banks have offered ‘repayment holidays’ on mortgage repayments. APRA data suggests 60% of bank loans and advances are in housing, so a decline in property values affects bank profits and capital.
Another way to assess the uptake of new listings is to consider the ratio of sales to new listings. This measure is found by dividing sales volumes by the number of new listings, and has been used as a leading indicator of property price movements.
The ratio increased from 1.1 in April to 1.3 over May, coinciding with an estimated increase in sales volumes of 20.4% across the combined capital cities over the month. This is the highest sales to new listing ratio in at least 10 years, though sales and listings volumes are still at very low levels.
ELIZA OWEN is CoreLogic's <a href="https://www.corelogic.com.au/news/early-market-indicators-show-first-signs-housing-market-slowdown?utm_medium=email&amp;utm_source=newsletter&amp;utm_campaign=20200420_propertypulse" target="_blank">head of research</a>
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Buyers are surprisingly responsive to rise in May listings: CoreLogic's Eliza Owen

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EXPERT OBSERVER
COVID-19 has brought about downside risks for the economy and housing market.
A 0.3% decline in March GDP confirmed a technical recession is underway in Australia, total wages paid fell 5.4% between mid-March and early May, and Australian dwelling market values saw the first month-on-month decline since June 2019. But one surprising sign of stabilising emerged in May.
Home sales have risen, with home owners testing the market, and new listings are rising.
In fact, buyer demand is outweighing the volume of new listings.
Where is demand coming from
Where is demand coming from? With the economy severely impacted by COVID-19, it is surprising to see such a strong rebound in transaction activity. But there are a few factors that can explain these numbers. The first is that the 20.4% jump in sales volumes in May is off a low base.
Over April, the number of transactions across the combined capital cities market was estimated to be just 16,115. That is the lowest monthly sales volume since 1991 excluding January results.
It is also pales in comparison to the decade average of 24,700 sales per month across these markets. Although a 20.4% uplift is significant, it still only brings sales volumes to an estimated 19,400 over May.
The second is a rise in consumer confidence. The ANZ Roy Morgan weekly consumer confidence index has risen consecutively for the past 9 weeks.
At the week ending 31st of May, the index is 50.5% higher than when it bottomed out in late March.
In fact, the index is now just 9% lower than when Australia confirmed its first case of coronavirus in January. The easing of social distancing policies and low COVID-19 case numbers in Australia mean people may be feeling more confident about the future of the Australian economy, their personal finances, and property purchases.
Finally, the kind of workers most impacted by COVID-19 are those that are less likely to have mortgage debt. Between the 14th of March and 2nd of May, 27.1% of payroll jobs have been lost across accommodation and food services, and 19.0% of jobs have been lost across arts and recreation. In a previous blog, we noted that this would disproportionately affect renters rather than owner occupiers.
Data from the ABS and HILDA suggests the share of households renting that are in food and accommodation services, and are in a more precarious financial situation, is around 40%. This suggests that for now, conditions have been relatively stable in the housing market because those most impacted by the economic slowdown of COVID-19 may be less likely to have a mortgage obligation.
With stability emerging in the property transaction space, it is evident that additional housing stimulus is less urgent among those that can already afford property, and is another case for addressing housing costs for low income earners.
ELIZA OWEN is CoreLogic's <a href="https://www.corelogic.com.au/news/early-market-indicators-show-first-signs-housing-market-slowdown?utm_medium=email&amp;utm_source=newsletter&amp;utm_campaign=20200420_propertypulse" target="_blank">head of research</a>
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Buyer demand outweighing new May listings: CoreLogic's Eliza Owen

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National residential property listings increased month-on-month in May by 3.9%, according to figures released by SQM Research.
Total listings rose to 304,137, up from 292,775 in April.
Compared to 12 months ago however, listings were down by 12.0%.
<img src="https://www.urban.com.au/images/2020/6/3/listings%20graph.png" alt="">
All capital cities experienced increases in property listings over the month, except for Canberra which posted a 0.8% decrease.
The largest listings increase was in Melbourne and Sydney, with growth of 11.6% and 10.9% respectively.
Hobart also recorded a large increase of 7.8%.
Year-on-year listings show more significant declines for all capital cities with Perth recording a 20.0% decline, followed by Darwin with a 18.8% decline, and Hobart a 15.8% decline (compared to this time last year).
“Overall, there was a rise in listings at the national level, driven by older stock not selling,” SQM Research Managing Director, Louis Christopher.
“We have recorded a 12% increase in listings of over 60 days. This tells me it is a patchy market with vendors struggling to meet their pricing expectations.”
“New listings actually fell for the month at the national level, which is abnormal for May.”
Meanwhile, capital city average asking prices increased by 0.5% for houses and decreased 0.1% for units, over the month to 2nd June 2020.
Unit asking prices are now at $573,300 and houses $997,400.
Compared to a year ago, the capital city asking prices posted increases of 10.2% for houses and 2.5% increase for units.
The figures showed that most capital cities recorded marginal asking price increases however, Sydney’s unit prices declined by 0.4%.
Brisbane, Darwin and Hobart’s house prices also all recorded declines of 0.3%, 1.1% and 0.1%, respectively.
The strongest monthly growth was seen in Darwin, with unit prices seeing a 7.2% increase.
Hobart followed, with a 1.5% unit price increase, and Perth’s houses had a 1.2% increase.
Year on year, it was only Perth and Darwin that experienced declines in house and unit prices.
All other capital cities recorded growth year on year, with Sydney recording a 13.7% house price increase, Melbourne recording an 11.9% house price increase, and Hobart recording a 10.0% house price increase compared to this time last year.
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Property listings increase in May: SQM Research

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EXPERT OBSERVER
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.
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. 
<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">
CoreLogic also reports the lowest level of supply in years. 
<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">
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. 
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.
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.
<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"> 
Agents can, however, take people through in groups of up to half a dozen at a time. 
This particular house had 27 groups through yesterday and was locked away under offer before the day was out. 
Huh.
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. 
PETE WARGENT 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>.
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Listings tighten across the nation, a pre-election repeat: Pete Wargent

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The stage is well and truly set for the return of theatrical home sales in New South Wales, after the state government lifted restrictions on in-person auctions and open-for-inspections this weekend.
Real estate agents are back to selling homes in an environment that maximises their performance and prospective homebuyers have been able to inspect properties more easily.
The Northern Territory lifted restrictions on live auctions and open-for-inspections last weekend, while up to 10 people are allowed to inspect homes in Western Australia.
A return to the usual ways that people can buy, sell and rent property is the best news for the industry since mid-March, but the real benefit will come once we see increased real estate listings.
A big challenge for Australia’s economic recovery will be confidence, and right now, listing volumes are still well down.
Listings are down but buyer search activity is up
Since the weekly low over a month ago, buyer search activity on realestate.com.au has increased by 46 per cent nationally and is now flowing through to buyer enquiry.
Enquiry is now up 24 per cent compared to the same time last year. While the connection between buyer enquiry and transactions is not an exact one, it does show greater intent to purchase than searches alone.
There are many factors driving this uptick including a relatively low number of active COVID-19 cases, a stable banking system, incredible levels of government stimulus, and importantly, the gradual opening of the economy.
Interest in commercial farming surges ahead
Buyer interest in all commercial property types dropped in April with the exception of commercial farming.
Compared to April last year, demand (views per listing) is now up 22 per cent. At the other end of the commercial property spectrum, retail demand dropped 37 per cent and office demand declined 30 per cent.
Interest in commercial farming is likely to be partly driven by COVID-19. Unlike shopping centres and offices, which are experiencing high numbers of closed stores and empty spaces, farms are still operational, and people still need food.
Other factors also playing a role in commercial farming demand include the weak Australian dollar and the drought breaking,. Many buyers are also looking beyond seasonal and commodity cycles when purchasing.
Western Australia is attracting the most interest while South Australia is the only state with a decline in activity. During the drought, some WA commercial farms were recording bumper conditions contrasting what was happening on the eastern seaboard.
Homes are selling faster compared to last year
Interesting data looking at days on site from realestate.com.au outlines just how quickly homes are selling at the moment compared to the same time last year.
Seasonality often impacts how quickly properties sell. For example, selling a home in January generally takes longer than in September, which is also consistent with broader market activity.
Since COVID-19 lockdowns started in mid-March, days on site – the number of days a listing was active on realestate.com.au to the date it was delisted due to being sold – has increased.
However, this increase is not unusual and is typical of what we see in April given the Easter holiday period, as well as Anzac Day.
Encouragingly, days on site in April 2020 were far lower than what they were in April 2019. It is likely that the low number of properties for sale, combined with increasing levels of search and enquiry, are driving this trend.
NERIDA CONISBEE <a href="https://www.realestate.com.au/news/author/nerida-conisbee/" target="_blank">is the chief economist for the REA Group</a>
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Listings are down but buyer search activity is up: REA's Nerida Conisbee

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EXPERT OBSERVER
<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>
 
<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>
Ouch.
<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>
 
<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>Source: Joiner, IFM Investors</div>
<div> </div>
<div>A sceptic might justifiably ask how their 2020 forecasts are tracking so far...</div>
<div> </div>
<div>Listings down</div>
There's not been too much sign of forced selling in the housing market just yet, with new listings all but cut in half.
<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>
Source: My Housing Market
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).
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.
It's extremely doubtful that's the case in outer suburban areas or regional hubs, though, as rising unemployment and underemployment begin to bite
PETE WARGENT 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>.
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International arrivals at multiyear lows: Pete Wargent

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EXPERT OBSERVER
There's not been too much sign of forced selling in the housing market just yet, with new listings all but cut in half.
<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>
Source: My Housing Market
<div> </div>
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).
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.
It's extremely doubtful that's the case in outer suburban areas or regional hubs, though, as rising unemployment and underemployment begin to bite
PETE WARGENT 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>.
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