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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Data released by SQM Research reveals that national residential property listings increased in March 2020 by 3.7%, up from 296,770 in February to 307,847.
Compared to 12 months ago, listings were down by 13.2%.
All capital cities experienced increases in property listings over the month with the largest increase in Darwin of 15.6%, followed closely by Canberra with a 11.0% increase and Sydney a 10.5% increase. Hobart had the smallest increase of 2.4% increase in listings.
Listings that have been on the market for between 30 to 60 days surged by 74%, suggesting sales activity did slow during March.
Year-on-year listings show declines for all capital cities with Sydney recording a significant decline of 22.8% and Hobart an 18.5% decline this time last year.
<img src="https://www.urban.com.au/images/2020/4/8/chart%201.png" alt="">
Louis Christopher, Managing Director of SQM Research said, “residential property listings are starting to increase and accumulate. I note the surge of stock that has been on the market between 30 and 60 days.  This may reflect the start of a capital city housing market downturn due to the health and economic impact of COVID-19. I also note though the rise in asking prices for the month, so quite a number of vendors have not really adjusted their pricing expectations as yet.”
<img src="https://www.urban.com.au/images/2020/4/8/chart%202.png" alt="">
Capital City asking prices increased by 0.7% for houses and increased 0.6% for houses, over the month to 31st March 2020. Unit asking prices are now at $577,000 and houses $990,500.
Compared to a year ago, the capital city asking prices posted increases of 8.8% for houses and 2.1% increase for units.
Over the month, most capital cities recorded asking price increases, with Darwin and Hobart both recording the highest increases for houses of 3.1%.  Highest price increase in units was Sydney and Perth with 0.8% increase. 
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National residential property listings increase in March; SQM Research

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National residential property listings jumped over six percent in November, according to figures released by SQM Research.
They rose 6.3 per cent from 318,874 to 338,971.
Listings are still 6.3 per cent down on the same levels this time last year.
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/3/SQM%20stock%20table%20November.jpg" alt="">
Darwin was the only capital not to experience a listing increase. Their listings are now over 12 per cent down over the year.
Listings in Hobart rose nearly 12 per cent, while Adelaide, Melbourne and Canberra all saw listings grow by over 10 per cent.
Canberra is the only capital with listings higher than the same time last year.
Sydney's listings went up by just over seven percent, and are over 19 per cent down on this time last year, the most across the country.
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Hobart lead property listings surge in November: SQM

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The Sunland Group has placed the Mariner’s Cove Retail Village and Marina in Main Beach on the market.
It is located adjacent to the 5-star Palazzo Versace Hotel, and opposite the Sheraton Grand Mirage Resort.
The Sea World theme park is located 1.8 kilometres north of the site.
Spanning 3.95 hectares, the waterfront site comprises the Mariner’s Cove Retail Village with a net lettable area of 4,278 square metres, and the 102-berth Mariner’s Cove Marina.
Sunland Group managing director, Sahba Abedian, said the decision to take the Mariner’s Cove precinct to market follows the completion of The Spit Masterplan, released in May.
“The Spit Masterplan sets a clear direction for development within this unique and internationally recognised coastal tourism precinct,” Abedian said.
The international campaign is being managed by James Branch, and Mark Witheriff, of Knight Frank.
Branch said future developments could include components of both a Premier 5-star hotel and residential apartments, maximising the benefits of the existing marina and high-grade marina facilities suitable for use by the growing super yacht market, as proposed by the Spit Masterplan.
The expression of interest campaign will close November 28.
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Sunland Group launches international expression of interest campaign for Mariner’s Cove

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A two bedroom St Peters terrace auction was brought forward by a week to sell for $985,000.
It ranked as the second most-viewed property in the country after its listing on realestate.com.au.
Over 180 individual groups came through the home.
The dilapidated 69 Sutherland Street terrace is so run down the selling agent had attendees had sign a waiver to enter at their own risk. 
<img src="https://www.urban.com.au/images/2019/11/8/st%20peters%20.png" alt="">
It has three bedrooms, and sits on a 117 square metre block. It was built in 1979. 
There was an initial $700,000 price guide through RRE Properties’ Michael Michos and Jim Michos who said it sold for $240,000 over reserve.
<div>
The property has missing floors, damaged walls, holes in the ceiling and no indoor toilet - It was marketed as "a blank canvass with great fundamentals."
St Peters's median house price is $1.09 million, however the inner-west suburb has not seen the downturn present in much of the country.
 
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Dilapidated St Peters terrace sells for almost $1 million

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National residential property listings increased in October by two per cent, according to figures from SQM Research.
They ticked to 321,754, up from 318,874 in September. 
Listings are still down nearly five per cent compared to 12 months ago.
All states were up over October, apart from Darwin where listings dropped 2.4 per cent.
The biggest jump was in Sydney, with listings up over four per cent in October, however the harbour capital also has the biggest gap to its stock levels last year, down 19 per cent.
Canberra saw the second highest stock level increase, just behind Sydney, to be one of just three capitals with stock levels higher than they were 12 months ago.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/6/SQM%20research%20listings.jpg" alt="">
Source: SQM Research
Sydney's total listings still sit behind Brisbane, with Melbourne having the most stock on the market in October.
Sydney's fresh stock however is considerably closer to Melbourne's number of listings as we head in to summer. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/6/SQM%20days%20on%20market.jpg" alt=""> Source: SQM Research
 
 
 
 
 
 
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Real estate listings rise mid-spring: SQM Research

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New capital city listings remain down year on year - everywhere bar Adelaide, which has seen a minor increase.
The city with by far the sharpest drop in new listings is Darwin at -31.3%, according to CoreLogic.
Following close behind are Melbourne and Hobart, both down -18%, a significantly larger fall than Sydney's -6.6%.
In terms of overall listing numbers, a similar scene is being played out with the only significant changes being the -21% fall in Sydney listings, plus Perth joining Adelaide with increasing listing volumes.
<img src="https://www.urban.com.au/images/2019/10/21/OCT%2021%20Listing%20Stats.JPG" alt="">
In contrast to these numbers, auction activity is set to rise across the combined capital cities this week with 2,436 homes scheduled to go under the hammer, making it the busiest week for auctions so far this year.
The busiest auction suburb this week is Reservoir with 21 homes set to go under the hammer, followed by Port Melbourne (19), and Kew (18).
The increase in auction activity is largely due to Melbourne, where vendors are rushing to auction prior to the Melbourne Cup week slowdown. The city is currently expecting around 1,435 auctions this week, the busiest week Melbourne has seen since this time last year, when 1,709 homes were taken to auction.
Sydney is set to see auction volumes remain relatively steady week-on-week, with 729 homes set to go under the hammer this week, while one year ago, 798 auctions were held across the city.
As for the smaller auction markets, Adelaide and Tasmania will see auction volumes increase week-on-week, while Brisbane, Canberra and Perth will see fewer auctions, according to CoreLogic data.
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Adelaide bucks the falling listing trend: CoreLogic

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EXPERT OBSERVER
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.
<img src="https://www.corelogic.com.au/sites/default/files/2019-10/new_and_total_listing_capital_cities.png" width="600" height="399">
 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.    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.  
<img src="https://www.corelogic.com.au/sites/default/files/2019-10/new_and_total_listing_capital_cities_chart.png" width="600" height="370">
 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. 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. 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.  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.  
<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
 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.   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. 
<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
 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.
TIM LAWLESS is the CoreLogic head of research
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tlawless-5VLUrbAk9s

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

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National residential property listings decreased by four per cent in September, according to SQM Research.
They dropped from 325,693 to 312,754 over the month, a surprise given listings generally pick up over spring.
Compared to 12 months ago, listings were down nearly seven per cent.
Louis Christopher, Managing Director of SQM Research said September’s decline in listings was an abnormal result.
"Listings normally rise for the first month of the spring selling season," Christopher noted.
"New listings did rise. It's just that older listings recorded a large decline. It suggests stock is being absorbed at a quicker rate.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/2/Stock%20on%20market%20SQM.jpg" alt=""> Source: SQM Research
"Turning to Sydney, the evidence, by way of the fall in listings, the rise in auction clearance rates and the accelerated rise in asking prices, all suggest that the city has indeed entered into a new housing boom. 
"Melbourne is not that far behind the mark as well. I think we can expect to record rapid rises in dwelling prices for our two largest cities at least in the December quarter and likely beyond.”  
The lack of listings was felt the most in Hobart, a decrease of 6.4 per cent over September.
Melbourne and Perth both saw listings dwindle by 5.8 per cent over the month, with New South Wales at a 5.7 per cent decrease.
The lowest decrease was Canberra. Their listings declined 1.1 per cent.
Sydney's listings declined the most year on year, down 20 per cent. Perth and Darwin recorded a nine per cent yearly decrease. 
 
  
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jrobinson-rf4aSBido9

Property listings record abnormal decrease over September: SQM

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There are now just 182 listings remaining on the Purplebricks website.
It's less than a quarter of what remained in July when they still held <a href="/news/purplebricks-australian-property-listings-shrink-to-just-800-homes-for-sale">800 listings</a>. 
Since then a number of properties have been presumably sold or vendors have ditched the UK-based disruptor for local estate agents.
<img src="https://www.urban.com.au/images/2019/9/13/Tallai%20PurpleBricks.JPG" alt="">
The <a href="https://www.purplebricks.com.au/search/property-for-sale#?q&amp;location=&amp;page=1&amp;searchType=ForSale&amp;sortBy=2" target="_blank">remaining 182 offerings</a> range from around $2.4 at 19 Alawara Drive, Tallai (pictured above), a seven bedroom, seven bathroom house set on 0.82 hectares to $150,000 for 140 Gilmore Ave, Medina.
The 522 square metre Medina, West Australia holding has been for sale since December 2018 with the asking price reduced from $170,000 in August 2019.
According to their website, around 73 agents are still on deck, down from 85 in July.
In early May, Purplebricks Australia announced its intention to exit the Australian market.
Despite the newly-installed CEO Neil Tavender and Kenny Bruce having overhauled the pricing model, so that half the fee was paid upfront and half on completion of the sale, Purplebricks decided to abandon the Australian market.
The pressure on the Australian business was most clearly exposed when it reported an $18 million interim loss for the six months to October last year.
Vic Darvey, the Purplebricks Group CEO said in May that after much consideration it had "made the difficult decision to close the Australian business."
"We’ve been operating here for two and half years and, unfortunately, we have been unable to make the progress in the Australian market that we’ve wanted, despite the tireless efforts of our employees," he concluded.
The Australian branch announced that they would take no further listings in Australia, but intended to finalise all existing agreements.
They announced their decision just a week after UBS said the company was<a href="/news/purplebricks-not-likely-to-make-profit-in-australia-until-2022-ubs"> not likely to make money in Australia</a> until 2022.
In the month prior to the shutdown it was forecast that Purplebricks would potentially have to close its Australian operations <a href="/news/purplebricks-australian-agency-may-need-to-be-abandoned-to-save-uk-mothership">to save the UK mothership</a>.
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Purplebricks Australia down to just 182 property listings

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EXPERT OBSERVER
The vendor discount metric measures, for properties that sell below the initial list price, the difference between the original list price and the ultimate sale price. The metric is calculated as a median across a rolling 3 months of data.
Within the past 3 months, housing conditions have started to stabilise but there has been no noticeable reduction in discounting levels. As at July 2019, the median vendor discount nationally, was 5.9% and as the chart shows, discounting has steadied over recent months.
At the same time a year ago, discounting levels were recorded at 4.9% and the last time discounts were as large as they are currently was August 2011. The heightened discounting is reflective of the weaker housing conditions over the past year and the increasing level of discount has recently ceased as housing conditions have improved.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%201.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%201.JPG" alt="">
The combined capital cities have recorded a slight reduction in discounting levels over recent months.
As at July 2019, vendor discounting was recorded at 6.1%, which was slightly lower than the recent peak of 6.3%. Discounting levels have increased from 5.1% a year ago and haven’t reached their recent heights any time in the past 12 years.
Across the combined regional markets, discounting has increased from 4.7% a year ago to 5.6% as conditions have deteriorated.
Although discounting levels across the regional markets are lower than those in the capital cities, there is no sign of a reduction and the last time discounting was this high was March 2013.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%202.JPG" target="_blank">click here</a>.
 <img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%202.JPG" alt="">
Sydney has seen discounting levels fall from a peak of 7.7% in February 2019 to 6.3% in July 2019.
The recent reduction in discounting mirrors the ongoing improvement in housing market conditions through 2019.
Although discounting levels are reducing, they remain higher than they’ve been any time previously over the past 12 years.
The median vendor discount in regional NSW has increased to 5.5% in July 2019 from 4.4% at the same time in 2018. Although discounting levels haven’t reduced, they have steadied over recent months however, they are at their highest levels since February 2013.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%203.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%203.JPG" alt="">
The level of vendor discounting in Melbourne has fallen from a peak of 7.1% in February 2019 to 6.5% in July 2019.
The reduction has followed the improvement in housing market conditions over the period. Despite the recent improvement, discounting is much higher than the 4.4% a year earlier and remains higher than it has previously been over the past 12 years.
Although discounting levels remain relatively low in regional Vic, they have continued to climb over the past year and are at their highest level since August 2013.
As at July 2018, vendor discounting was recorded at 3.8% and by July 2019, this had increased to 5.4%.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%204.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%204.JPG" alt="">
Over the past year, there has been an ongoing increase in the level of discounting by vendors in Brisbane.
As at July 2019, the median discount was 5.0% compared to 4.3% a year earlier.
Although discounting is still quite low, the 5.0% in July 2019 is the largest median discount since April 2013.
The level of vendor discounting in regional Qld has increased from 5.4% in July 2018 to 5.7% in July 2019. The level of discounting has reduced slightly over recent months however, the last time discounting levels were as high as they are currently was August 2013.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%205.JPG" target="_blank">click here</a>.
 <img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%205.JPG" alt="">
As the housing market has seen values fall in Adelaide, the level of discounting has increased.
As at July 2019, the median vendor discount was 5.7% compared to 5.0% a year earlier. At 5.7%, vendor discounting hasn’t been as high as it is currently since August 2013.
In regional SA there has been a slight reduction in the magnitude of discounting over recent months.
As at July 2019, the median discount was recorded at 6.0%, which was slightly higher than the 5.8% discount a year earlier.
The level of discounting in Perth has been elevated for a number of years as housing demand has remained weak and values have continued to decline since mid-2014. As at July 2019, the median vendor discount was 6.9% compared to 6.5% a year earlier. The last time discount levels were this high was early 2009.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%206.JPG" target="_blank">click here</a>.
 <img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%206.JPG" alt="">
In regional WA, the median vendor discount has continued to trend higher over recent years as housing market conditions have deteriorated.
As at July 2019, the median discount was 8.8%, up from 8.3% a year earlier.
The 8.8% discount is the highest in regional WA since the beginning of 2009.
As value growth in Hobart has slowed over the past year, there has been an increase in discounting. In July 2018, median vendor discounting was 3.5% compared to 3.8% currently.
Over recent months, discounting levels have started to reduce again suggesting that buyers and sellers are closer aligned with their price expectations.
As value growth has slowed in regional Tas over the past year, there has been a moderate increase in discounting. A year ago, discounting was recorded at 4.3% compared to 4.6% currently. Mid 2017 was the last time discounting levels were as high as they are currently.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%207.JPG" target="_blank">click here</a>.
 <img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%207.JPG" alt="">
The weak housing market over recent years in Darwin has seen an elevated level of discounting occurring.
As at July 2018, the median vendor discount was already high at 7.7% and it increased to 8.2% by July 2019.
Across regional NT the level of discounting by vendors remains low however, it is currently higher than it was a year ago. In July 2019, median vendor discounting was recorded at 3.9% compared to 2.9% a year earlier. Because of low volume of sales, the level of discounting in regional NT tends to be quite volatile.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%208.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%208.JPG" alt="">
Canberra has recorded a slight increase in the median vendor discount over the past year however, discounting levels remain extremely low across the city.
A year ago, vendor discounting was recorded at 2.5% compared to 3.1% currently.
The increase reflects the slowing housing market.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%209.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%209.JPG" alt="">
The increase in discounting levels over the past year is reflective of the weakening housing market conditions.
Certain capital cities are already showing signs that discounting levels are reducing and with a housing recovery expected to continue, discounts should reduce further.
Of course, lower interest rates and changed lending rules have enabled more buyers in the market and at this point, the volume for stock remains low.
As a result, negotiations in the marketplace are swinging from being in favour of the buyer to being more in favour of the seller and that is likely to also contribute to reduced levels of discounting over the coming year.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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