Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Property News

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Friday last week encapsulated all that’s wrong in the reporting of real estate in Australia. “Rental prices continue to soar” screamed one headline, while “Rental prices in Australia are going backwards” shouted another. 
How did different media outlets come to such different conclusions? One published the press release on The Domain Rental Report and the other published the handout from the CoreLogic Rental Index. 
As is so often the case, the statistics from one research source are different from those on the same subject from a competing source. Newspapers and other forms of media report each in isolation, often running the press release pretty much verbatim, without applying any journalistic oversight. 
No one looks at the material on the one subject from all sources and analyses it to make some sense of it for readers. 
Sometimes the numbers from two different sources aren’t that different. It’s just that one research entity will choose to place a negative slant on the figures and media will go with that, while another researcher will emphasise the positive.
The lack of genuine journalism on these matters is quite alarming. The content and tone of the press release is re-cycled to the public as news.
The result is confusion and misinformation, the curse of real estate consumers trying to figure out what’s really going on and make good decisions on investment.
So what can we make of the national rental data published by two major sources on the same day recently?
The reality is that they’re not actually so different. One chose to take a negative stance and the other decided to paint a brighter picture.
Here’s where Domain agrees with CoreLogic:
<ul>
<li>Both see rents going seriously backwards in Darwin. The annual decline in rents is in double digits, according to both sources.</li>
<li>Rents in Perth are still falling, though not as much as in Darwin, according to both.</li>
<li>Both sources see only moderate growth in rents in Sydney.</li>
<li>Both sources see minor growth in Melbourne, around 2-3 percent in annual terms.</li>
</ul>
And here’s where they don’t agree.
<ul>
<li>Domain records 2-3 percent growth in Brisbane, but CoreLogic reports a marginal fall.</li>
<li>Domain sees minor growth in Adelaide, but CoreLogic has rents down 1 percent annually.</li>
<li>CoreLogic reports essentially no change in Hobart, but Domain reports a 6 percent annual rise in house rents and a 2 percent rise in apartment rents.</li>
<li>CoreLogic records a 1.2 percent rise in its Canberra Rental Index but Domain sees bigger increases in rents in the capital.</li>
</ul>
It basically comes down to this: while there are a number of similarities, Domain’s figures overall are more positive than CoreLogic’s and it chose to take an optimistic outlet.
“Rents in most capital cities continue to rise, with falling vacancy rates indicating an ongoing shortage of rental properties,” said Domain chief economist Andrew Wilson.
“Despite the recent influx of home building, we can expect to see upward pressure on both houses and unit rents in most capital cities continuing in the foreseeable future.” 
But the CoreLogic analysis said the “annual capital city rental change is in decline and is now the lowest since 1996”.
My take on all this, having observed the quarterly rental data coming from all the usual suspects over the past 2-3 years, is that capital city rental growth has been consistently low over that period. While there are occasional exceptions, the capital cities have failed to deliver strong growth in rentals for years – and, in the case of Perth and Darwin, rents have dropped substantially.
Domain has chosen to be upbeat on its latest figures, but really they show very little in the way of strong, meaningful growth in rents.
It provides further evidence that the “housing shortage crisis” consistently claimed by the developer lobby is another of real estate’s enduring myths.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Housing shortage crisis an enduring myth: Terry Ryder

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Your patch needs to be special, and buying in a great location offers plenty of pluses, says ME Head of Home Loans, Patrick Nolan.
“No matter whether you prefer the inner city vibe or out-of-town tranquility, your choice of location matters,” he said.
“Where we live can shape our lifestyle and a quality neighbourhood can give you five valuable benefits:
1.    You’re likely to enjoy higher capital growth
"Good neighbourhoods tend to top the capital growth league tables. Sure, you may pay more to buy into a desirable neighbourhood but it’s likely to be a brilliant investment as local value growth should outpace less appealing areas over time.
2.    The community is safer, more secure
“We all want to live in a safe neighborhood where there’s little or no crime. A good neighborhood is a place where you are free to walk around, explore, chat with locals and know your neighbours are there for you in a pinch.
3.    A choice of quality schools
“A neighbourhood with highly regarded schools offers valuable pluses even if you don’t have school-age kids. Families always look at the calibre of local schools as part of their buying decision, and the better the school district, the more sought after your home will be if you choose to sell up further down the track.
4.    Easy access to shops, cafes, restaurants
“Like to grab a latte on your way to work? How about Sunday brunch at your favourite eatery? Having a good selection of nearby shops, cafes, restaurants and maybe a gym or cinema won’t just boost your lifestyle, it may also give your home the edge in terms of future capital growth.
5. Access to transport links
“A good location offers easy access to public transport and/or decent road links. Being near a train or bus is handy, but when a commute by car is inevitable having nearby freeway access can help your home hold its value.
“The key thing is to never lose sight of what is important to you in a neighbourhood. If you’re a footy fan, you may love owning an apartment that overlooks the major sporting grounds. If you’re a nature lover, having access to bush reserves may top your wish list. It’s all about what works for you while still being mindful of what’s attractive to other buyers because at some point you’re likely to upgrade to your next home. That’s when the value of a great neighbourhood translates into money in your pocket.”
 
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po-LsXgBTHBmX

Property 101: Five benefits of buying into a good neighbourhood

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GUEST OBSERVER
Australia’s trade deficit widened from $3.16 billion in January to $3.41 billion in February. It was the 23rd consecutive monthly deficit. The rolling 12-month deficit stood at a record high $44.53 billion in the year to February.
Exports to US: In the year to January, Australia exported $13.57 billion of goods to the US – just shy of the record high $13.69 billion in the year to October 2015. But the share of annual exports going to the US lifted from 5.44 per cent to a fresh 7-year high of 5.53 per cent.
Consumer confidence: The weekly ANZ/Roy Morgan consumer confidence rating fell by 1.1 points (1 per cent) to 113.4 in the week to April 4. Confidence is still 3.4 per cent higher over the year and above the average index value of 112 since 2014.
New vehicle sales: There were 104,512 in March, down 0.5 per cent over the year. SUVs accounted for a record 36.2 per cent of all vehicle sales in the 12 months to March.
The trade data has the potential to affect the Aussie dollar so may be important for exporters. The data on car sales provide insights into consumer and business spending Stocks affected include Super Retail Group, AP Eagers, Automotive Holdings, ARB Corporation and Schaffer Corp. The consumer confidence figures have implications for finance providers, retailers, and companies dependent on consumer and business spending.
What does it all mean?
The latest trade data was decidedly weak. Not only have the trade accounts been in deficit for almost two consecutive years, but the 12-month rolling annual deficit came in at $44.5 billion – the largest deficit in monthly records going back 45 years. However the trade data doesn’t have the impact on the currency that it once did. Given that the currency fell less than a fifth of a cent it is pretty clear that there appears little concern by foreign investors about the red ink. Over the medium term it is likely that trade deficits will remain the norm.
Interestingly consumption good imports rose by over 3 per cent and are up almost 10 per cent on a year ago. At face value this may be an early sign that consumer activity is lifting, and as a result more goods are being imported. 
<a href="/images/2016/04/6/Screen%20Shot%202016-04-06%20at%209.53.29%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/6/Screen%20Shot%202016-04-06%20at%209.53.29%20AM.png" alt="">
It’s clear that a lower currency will be required to continue to support the rebalancing across the economy - particularly in light of providing a further boost to Australia’s rural and services exports. The other interesting shift is the strength in exports to the US. In the past year Australia exported $13.57 billion of goods to the US – just shy of the record high of $13.69 billion in the year to October 2015. In addition the share of annual exports to the US is now at a 7-year high. While China will continue to remain our dominant trading partner the lift in activity with other nations like the US and India will help to alleviate some of the weakness.
The car industry has certainly been a key beneficiary of improved household budgets and low interest rates. Over the year to March, a total of 1,163,143 new vehicles were sold - just shy of the record 1,163,684 sold in the year to February. And March vehicle sales were affected by the early timing of Easter.
Of note, sports utility vehicles (or four-wheel drive vehicles) remain the ‘new black’. While sales of ‘ordinary’ passenger cars fell by over 9 per cent in March compared with a year ago, SUVs lifted by 8.3 per cent over the year. In fact 421,625 SUVs were sold over the past year – a record high. One in three new vehicles sold in Australia is a SUV. And almost 46 per cent of combined SUV and passenger cars sold are SUVs.
<a href="/images/2016/04/6/Screen%20Shot%202016-04-06%20at%209.54.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/6/Screen%20Shot%202016-04-06%20at%209.54.43%20AM.png" alt="">
What do the figures show?
International trade:
Australia’s trade deficit widened from $3.16 billion in January to $3.41 billion in February. It was the 23rd consecutive monthly deficit. The rolling 12-month deficit stood at a record high $44.53 billion in the year to February.
In February, exports of goods and services fell by 1.2 per cent (goods down by 1.3 per cent) while imports of goods and services fell by 0.2 per cent (goods up by 0.2 per cent). Exports are down 8.5 per cent on a year ago, while imports are down by 2.0 per cent.
Rural exports fell by 5.5 per cent after sliding by 1.8 per cent in January. Non-rural exports rose by 1.6 per cent (but gold fell 20.4 per cent) after rising by 2.2 per cent in January.
Within imports, consumer imports rose by 3.4 per cent with capital goods imports up by 0.4 per cent while intermediate goods imports fell by 3.1 per cent.
Consumption goods imports are up 9.5 per cent on a year ago while capital goods imports are down by 9 percent and intermediate goods imports are down by 12.2 per cent.
Australia's annual exports to China stood at a 31-month low of $79.0 billion in the year to February. Annual exports were down 8.4 per cent on a year ago. Exports to China accounted for 32.2 per cent of Australia's total exports.
Australia's annual imports from China rose from $61.88 billion to a record high of $62.01 billion in the year to February, up 14.8 per cent on a year ago. Imports from China accounted for 23.2 per cent of Australia's total imports in February.
Australia's rolling annual trade surplus with China hit a 5-year low of $17.01 billion in February, well down from the record high of $51.16 billion set in April 2014.
Australia annual exports to the US lifted from $13.54 billion to $13.57 billion in the year to February and just down from a record high of $13.69 billion in the year to October 2015. But the share of annual exports going to the US lifted from 5.44 per cent to a fresh 7-year high of 5.53 per cent.
Australia’s annual exports to India eased further from the two-year high of $10.45 billion set in the year to April 5 2016. 
<a href="/images/2016/04/6/Screen%20Shot%202016-04-06%20at%209.55.41%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/6/Screen%20Shot%202016-04-06%20at%209.55.41%20AM.png" alt="">
Consumer confidence
The weekly ANZ/Roy Morgan consumer confidence rating fell by 1.1 points (1 per cent) to 113.4 in the week to April 4. Confidence is still 3.4 per cent higher over the year and above the average index value of 112 since 2014.
Two of the five components of the index fell in the latest week:
The estimate of family finances compared with a year ago was up from +6 to +9;
The estimate of family finances over the next year was unchanged at +28;
Economic conditions over the next 12 months was down from -3 to -4;
Economic conditions over the next 5 years was down from +12 to +3;
The measure of whether it was a good time to buy a major household item was up from +30 points to +31 points.
New vehicle sales
According to the Federal Chamber of Automotive Industries (FCAI), Australian new motor vehicle sales totalled 104,512 in March, down 0.5 per cent over the year. In the year to March, 1,163,142 new vehicles were sold, just shy of the record 1,163,684 sold in the year to February.
Passenger vehicles in March were down 9.4 per cent on a year earlier while sales of sports utility vehicles (SUVs) were up by 8.3 per cent and other vehicles were up by 4.9 per cent.
In the year to March, SUVs represented 45.5 per cent of combined passenger car and SUV sales. SUVs accounted for a record 36.2 per cent of all vehicle sales in the 12 months to March.
What is the importance of the economic data?
The monthly International Trade in Goods and Services release from the Bureau of Statistics provides estimates on exports and imports of physical goods (such as coal, beef and computers) and services (such as travel receipts). The balance of goods and services (BOGS) is a narrower description of Australia’s external position than the current account estimates. The import data is a useful gauge of consumer and business spending while exports reflect global demand as well as domestic influences such as drought.
The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.
The Federal Chamber of Automotive Industries releases estimates of car sales on the third business day of the month. The figures highlight the strength of consumer spending as well as conditions facing auto &amp; components companies.
What are the implications for interest rates and investors?
China dominates Australia’s trade relationships but the lift in trade with the US and India is encouraging.
At present there is no rush to move rates in any direction. And while the Reserve Bank policymakers may fret about the stronger Aussie dollar, CommSec believes interest rates will remain unchanged over 2016. Any need to cut rates would be as a result of a downturn in the global economy rather than due to domestic factors.
The Reserve Bank knows that the Aussie dollar is a two-edged sword. Consumers love a stronger currency as it means cheaper overseas travel and imported goods. But a stronger Aussie makes it more difficult for businesses, especially exporters and those in regional and rural regions.
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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Record annual trade deficit, exports to the US lifts: CommSec's Savanth Sebastian

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In 2014/15, Camden in south-west Sydney recorded the fastest population growth rates for local government areas, up by over 5,000 people or 7.6 percent. The Melbourne City LGA grew by over 6,800 people or 5.6 percent in 2014/15.
Regional migration: In 2014/15, Moreton Bay in Queensland recorded the biggest inflow of people (5,598) while Brisbane recorded the biggest outflow of people (4,597).
Regional population: Melbourne was the fastest growing capital city in 2014/15 with population growing by 91,600 people or 2.1 percent.
Overseas Migration: Latest data shows that 28.2 percent of Australians were born overseas – the highest proportion for over 120 years.
The demographic data have implications for all businesses, especially those located in rural and regional areas which are looking to target the fastest growing regions.
<a href="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.09.41%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.09.41%20PM.png" alt="">
What does it all mean?
For any business, it’s important to track your catchment area – determine whether population is advancing or declining as well as determining whether there are other regions that represent greater opportunities.
The Bureau of Statistics provides population estimates at different levels, allowing businesses to cut and dice figures a number of different ways.
What stands out is the outflow of people from Western Australian mining areas in the last financial year and the big population gains in the new housing areas of Victoria, and to a lesser extent, NSW.
A number of Queensland areas recorded significant inflows of people last financial year, notably the Gold Coast, with net migration the largest in eight years. The Sunshine Coast also recorded notable inflows of people for the second year.
Queensland is notable for the ‘churn’ factor – the high level of people arriving and departing from regions each year with Brisbane highest from the Gold Coast.
It is clear that there are tremendous opportunities for businesses with a raft of regions recording solid population growth rates. The number of people in Lane Cove in
Sydney’s north has lifted sharply over the past two year largely on apartment demand than free-standing homes.
What do the figures show?
Overseas Migration 2014/15
The Australian Bureau of Statistics (ABS) estimates that net overseas migration eased from 186,365 to 168,183 in the 2014/15 financial year.
All states and territories recorded a net inflow of migrants in 2014/15 with NSW (39.3 percent) and Victoria (32.1 percent) dominating the share of net migrants coming to Australia.
As at June 2015, 28.2 percent of all Australians were born overseas, up from 28.1 percent in 2014 and the highest share since 1894.
The ABS is only able to determine why migrants came to Australia with a lag, that is “An individual's actual travel behaviour and associated characteristics, including visa type, are only available from final NOM data, as these can only be accurately determined at the end of the 16 month reference period following a traveller's initial border crossing.”
In 2013/14, 67 percent of net migration to Australia was by people on temporary visas, notably higher education (28.3 percent), ‘visitor’ (17.7 percent and ‘working holiday’ (14.7 percent).
Regional Migration 2014/15
In 2014/15, 339,000 people moved interstate, down 2.9 per cent (10,190 people) on the previous year. Only Victoria (+10,200) and Queensland (+6,417) recorded a positive net increase of people by way of interstate migration.
The region with the biggest net inflow of people was the Moreton Bay local government area in Queensland with almost 5,600 moving into the region. Next highest was Wyndham in Victoria (up 4,760), Sunshine Coast in Queensland (up 4,732) and Gold Coast (up 4,492).
The region with the biggest net outflow of people was Brisbane (down 4,597).
<a href="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.15.50%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.15.50%20PM.png" alt="">
Regional population 2014/15
In 2014/15, Camden in south-west Sydney recorded the fastest population growth rates for local government areas, up by 5,112 people or 7.6 percent. Camden’s population growth has accelerated over the past five years.
Of the 563 local government areas, 336 regions recorded positive population growth in the year to June 2015.
Western Australia dominated the regions recording the biggest declines in population, recording all of the 17 biggest percentage falls.
The ABS has provided further observations on population:
<a href="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.17.26%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.17.26%20PM.png" alt="">
“The combined population of Greater Capital Cities increased by 263,100 people (1.7 percent) between 30 June 2014 and 30 June 2015, accounting for 83 percent of the country's total population growth.
Melbourne had the largest growth of all Greater Capital Cities (up by 91,600 people), followed by Sydney (83,300), Brisbane (35,200) and Perth (31,100).
Melbourne also had the fastest growth (up by 2.1 percent), ahead of Darwin (1.9 percent) and Sydney (1.7 percent).
The top four Statistical Areas Level 2 (SA2s) with the largest population growth in Australia were outer suburbs of Greater Melbourne.
The SA2 of ACT - South West had the fastest growth (up 127 percent), followed by Cranbourne East in Greater Melbourne (32 percent).
Wyndham in Melbourne's west had the highest net migration gain of all Statistical Areas Level 3 (SA3s) in Australia in 2014-15 (4,900 people). It was one of a number of SA3s in Melbourne's outer suburban fringe to have comparatively high net migration growth. These included Whittlesea - Wallan (4,100), Casey - South (4,000) and Melton - Bacchus Marsh (3,300) in Melbourne's north-east, south-east and west respectively.
The SA3s with the highest net losses in 2014-15 were Canterbury (-3,300 people) in Sydney's inner southwest, Strathfield - Burwood - Ashfield and Fairfield (both -3,100) in Sydney's inner-west and south-west respectively, and Monash (-2,600) in Melbourne's south-east.”
What is the importance of the economic data?
The Australian Bureau of Statistics (ABS) provides detailed annual population estimates, including data on migration and population changes in regional areas.
What are the implications?
Population growth has slowed at a broad, Australia-wide level, but there are marked variations beneath the surface. As would be expected, the ending of the mining construction boom has led to an outflow of people from a raft of Western Australian regions. Population growth is fastest in Victoria and there remains high numbers of Aussies, and newly-arrived, migrants, trying out the lifestyle in Queensland. Good social infrastructure will be important if Queensland regions are successful in retaining the new arrivals.
The ABS has continued to highlight net migration losses in Sydney from Canterbury, Strathfield, Burwood, Ashfield and Fairfield. In Melbourne there continue to be outflows of people from Dandenong and Monash in the south-east but inflows to the north-east, south-east and western suburbs of Melbourne.
The latest population estimates are of importance to private and public sector businesses alike whether it is the location of stores or planning of transport and social infrastructure. Poor transport and infrastructure could lead to population outflows affecting business revenues and council rates.
 A good economy is important for holding onto people. Fewer people left NSW in the last financial year, basically because job opportunities had improved. And the number of people leaving NSW was sharply lower than over the previous decade despite weaker housing affordability.
 Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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Winners and losers on population growth: CommSec's Craig James

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New listings nationwide over the last 28 days are up 1.3 percent with the total level of properties on the market up 1.1 percent according to CoreLogic RP Data.
For the combined capital cities new listings are down 0.9 percentile compared to last year, with total listings up 8.4 percent 
Melbourne (1.1 percent), Brisbane (15.0 percent) and Adelaide (3.6 percent) new listings numbers are up on last year. 
<a href="/images/2016/03/31/Screen%20Shot%202016-03-31%20at%201.23.23%20PM.png" target="_blank">Click to enlarge</a>
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New listings over the past twenty eight days 1.3 percent higher: CoreLogic RP Data

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Bathurst/Orange were at the rising market stage in the property cycle in Herron Todd White's recent property clock.
"It is fair to say that most of the central west is undergoing a metamorphosis into the levels of cool, particularly for families," HTW advised.
"While not previously associated with cultural sophistication this is changing with the increase in entertainment venues with recent visits by Anh Do and Kitty Flanagan, increased numbers of immigrants finding it possible to settle in the central west outside of Sydney, university graduates remaining in the area, improved shopping and improved bars and restaurants, many of high quality.
"Whereas Bathurst was previously associated with young male race fans letting off steam, visitors these days are as likely to sit down to an a la carte dinner with the family as they would a meat pie," says HTW.
<a href="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" alt="">
HTW suggest he year ahead does not look like it is going to be one of increased volatility. In contrast to the major centres of Sydney and Melbourne, percentage movements have been relatively modest over the past few years. The benefit of this is that any knock- on effect from a softening in the capital cities will be felt less acutely. The likely scenario is continued gains in the order of 1 percent to 5 percent. Rents are not expected to move much with supply staying ahead of demand. 
New development is expected to continue as is the renovation of existing dwellings with a rising market allowing owners to tap into equity. The majority of new development will be freestanding dwellings, pushing the driving time from the suburbs to the shops beyond 15 minutes. This raises the question of at what point will developers sense the market potential to go up rather than out. That may possibly be this year on the old Orange hospital site. 
Orange has invested considerable effort into the Taste Orange campaign and Orange is now seen as a centre for fine food and wine.
This makes sense given the red volcanic soils and cool climate which are perfect for fruits and other crops. Both cities have benefited from the social trend to moving back to natural ingredients with restaurants and grocery stores stocking local produce.
As the trend towards lifestyle choices continues, the area is increasingly able to tick a lot of boxes for more people creating a positive cycle of more local investment, with development mindful of what is drawing people to the region in the first place. 
There is very little available in the towns below $200,000 besides slightly dated two-bedroom units. The trend over the next year and beyond is for properties in the $200,000 bracket to move into the $300,000 bracket, $300,000 to $400,000 and $400,000 to the $500,000 bracket. Properties above this price range are unlikely to experience the same percentage increases as small acreages become available to purchasers. 
Rural residential properties will continue to be in strong demand with these recognised as having some of the most attractive country in NSW. 
Property Observer found a couple of examples of recent sales in Bathurst/Orange to illustrate the 'cool' about these two places:
 <img src="/images/2016/03/30/image24.jpg" alt="">
1. A period cottage with four-bedrooms at <a href="https://www.realestate.com.au/property-house-nsw-bathurst-121122106" target="_blank">251 Bentinck Street, Bathurst NSW 2795</a> (above) sold recently for $450,000 through Raine and Horne.
<img src="/images/2016/03/30/700_orange.jpg" alt="">
2. A house with five bedrooms at <a href="https://www.realestate.com.au/property-house-nsw-orange-122000274" target="_blank">29 Centennial Crescent, Orange NSW 2800</a> (above) sold for $699,000.
Gentrification can be an academic discussion but identifying when it takes hold, and quantifying its impact on property is often best left to those that spend their days in the suburbs being felt, say Herron Todd White in their property clock for March 2016.
Certainly staying ahead of the gentrification curve can prove profitable to property investors, say HTW.
 
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Bathurst and Orange changing to cool: HTW

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When we head to the polls, auction property market activity typically slows.
It's a bit like long weekends, Easter and school holidays which are in many markets are generally avoided given the ideal scenario is to choose an uninterrupted four-week sales campaign block. 
This year's election, perhaps as soon as Saturday July 2, will actually be well timed for minimal impact amid the traditional winter slowdown.
But expect a chill to come with it given that negative gearing policy is set to be one of the key election issues.
The seismic Labor Opposition policy, and the Government's seeming abandonment of any change, at least for the time being, will trigger diverse consequences. 
Like the balloon effect: squeeze a balloon in one place, and it inflates elsewhere, some vendors might bring their sales forward while others will bring their purchasing forward. Other owner occupiers and investors will delay.
Overall the electorate - and therefore much of the market - will simply await the outcome of any double dissolution election that will not be about the construction industry bill.
It will be much more about the future value of people’s houses given Labor’s plans and the Government's seeming abandonment of any changes. 
It seeks to restrict the use of negative gearing in the property market to new homes, and to also halve the discount applied to capital gains tax.
This campaign is therefore not likely to be typical when elections tend not to impact on actual home values. 
Elections often have an impact on listing activity.  
So I'd expect prospective vendors to bring forward their sales campaigns to May and June, but then closer to the election date the prospective sellers will postpone their sales campaigns.
CoreLogic RP Data analysis of recent elections showed that there was around a 20 percent drop in the volume of listings, while the clearance rate is usually unaffected. 
Historically when there is no change of government the housing market tends to respond better post-election than when there is a change.
Just how much the auction trends can be attributed to an election is debatable, however federal elections do have an impact on consumer and business confidence.  
Federal budgets too, and we still have to get through it's impact in May.
The debate on negative gearing has now been enlightened by the latest Tax Office statistics that show there were 1,257,301 individual investors in 2013-14 who claimed a total of $10.9 billion worth of rental losses over the year. 
The number of individuals claiming a rental loss was the lowest since 2009-10. Given low interest rates, the average loss claimed was $8,722, the lowest since 2005-06.  
A record 776,672 taxpayers earned a net profit from their investment property in fiscal 2014. 
Although landlord earnings from rents were flat at $38 billion.
More Australians than ever own a rental property at 2.03 million with an indisputable spread across low, middle and high income earners.
This article was first published in the Saturday Daily Telegraph.
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Plenty of property decisions to accompany the negative gearing election

Australia has a sound and credible macroeconomic policy framework: Glenn Stevens

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The 26th MIPIM Awards have been announced at a gala ceremony held in Cannes.
Europe came close to taking all the trophies with winning projects from Italy, France, Belgium, Germany, Sweden, Scotland, Czech Republic and the United Kingdom.
Organised by Reed MIDEM, a subsidiary of Reed Exhibitions, MIPIM is currently taking place in Cannes.
The MIPIM Awards 2016 winners are:
 BEST HEALTHCARE DEVELOPMENT Queen Elizabeth University Hospital &amp; Royal Hospital for Children Glasgow, United Kingdom Developer: Brookfield Multiplex Architect: IBI Group Client: NHS Greater Glasgow &amp; Clyde Other: WSP Group, TUV SUD, Doig and Smith, Gillespies LLP, Ginko Projects  BEST HOTEL &amp; TOURISM RESORT  JW Marriott Venice Resort &amp; Spa Venice, Italy Developer: La Sessola Srl Architect: Matteo Thun &amp; Partners Project Manager: Luca Colombo BEST INDUSTRIAL &amp; LOGISTICS DEVELOPMENT ELI Beamlines Prague, Czech Republic Developer: Fyzikální ústav Akademie, věd ČR, v.v.i., Institute of Physics, Academy of Sciences, Czech Republic Architect: Bogle Architects BEST INNOVATIVE GREEN BUILDING 
 Treurenberg Brussels, Belgium Developer: AXA Investment Managers – Real Assets Architect: ASSAR ARCHITECTS Owner: AXA Belgium BEST OFFICE &amp; BUSINESS DEVELOPMENT #CLOUD.PARIS Paris, France Developer: SFL (Société Foncière Lyonnaise) Architect: PCA Philippe Chiambaretta Architecte BEST REFURBISHED BUILDING Papillon Düsseldorf, Germany Developer: 741 Projektentwicklung GmbH Architect: Luczak Architekten &amp; SW Häuser GmbH Other: Cadman GmbH, Hellmich Gruppe &amp; CarLoft BEST RESIDENTIAL DEVELOPMENT Katscha Norrköping, Sweden Developer: Ivarsson Byggnads AB Architect: Kai Wartiainen and Ingrid Reppen, arkitektur + development ab Public Authority: Norrköpings kommun BEST SHOPPING CENTRE Les Docks Village Marseille, France Developer: Constructa Urban Systems Architect: 5+1 AA Other: JP Morgan Asset Management BEST URBAN REGENERATION PROJECT Crossrail Place London, United Kingdom Developer: Canary Wharf Group Architect: Foster + Partners Engineer: Arup, Wiehag  BEST FUTURA PROJECT Paradis Express Liège, Belgium Developer: Fedimmo Architect: association A2M - Jaspers-Eyers Architects – BAG Other: Bureau Lemaire, TPF engineering, D2S, Heinz Winters Atelier, Duchêne, Galère, Interbuild BEST FUTURA MEGA PROJECT
DUO PARIS – Taking urban sensations to new heights Paris, France Developer: Ivanhoé Cambridge  Architect: Jean Nouvel Project Manager: Hines    PEOPLE'S CHOICE AWARD   Shanghai Tower
Shanghai, China 
Developer: Shanghai Tower Construction &amp; Development Co. Ltd
Architect: Gensler
Other:  Shanghai Construction Group, Thornton Tomasetti, Cosentini Associates, SWA Group, I.DEA Ecological Solutions
The MIPIM Awards Jury is composed of the following experts:
Barbara A. Knoflach - Deputy Chief Executive &amp; Global Head of Investment Management, BNP Paribas Real Estate
Martin J. Brühl FRICS - President, RICS
Madeleine Cosgrave - Managing Director, Real Estate Investment, GIC Real Estate
Serge Fautré - Chief Executive Officer, AG Real Estate
John Forrester - Chief Executive Officer, EMEA , Cushman &amp; Wakefield 
Paolo Gencarelli - Head of Group Real Estate, Unicredit 
Frank Khoo - Global Head of Asia, Axa Real Estate 
Sergey Kuznetsov - Chief Architect, City of Moscow 
Ralf Niebergall - Vice President, Federal Chamber of German Architects 
Denis Valode - Architect and Co-founder, Valode &amp; Pistre
Olle Zetterberg - Chief Executive Officer, Stockholm Business Region 
 
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JW Marriott wins MIPIM award

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Richardson &amp; Wrench, one of the oldest real estate groups in Australia, has been bought by Andrew Cocks, its managing director.
The sale concluded negotiations between Cocks and the Wong family which has owned Richardson &amp; Wrench Group since 1988.
Mr Cocks, who was appointed to the group in 2009, became a R&amp;W director last month along with his wife, Allison.
It has independently owned offices in NSW and Queensland of 98 franchise territories, the two most recent being Goulburn and Maitland.
The mainstays of the network founded in 1858 are its offices at Noosa, Double Bay, Elizabeth Bay and Mosman.
No sale price has been given on the business which had 123 offices when last sold for $11 million by businessman Neil Collins to the Malaysian interests, associated with the WTK Group of Companies which has timber, mining and shipping interests in South-East Asia.
It was the first Australian investment by the Malaysian-based group directed locally by Maroubra resident Mr K.C. Wong from 1988 until 2013. 
At the time Richardson and Wrench was the fourth largest Australian franchise network behind the 400-office L J Hooker chain, the 180-office Raine and Horne network and the 170-office ERA-Ray White group.
Established in 1902, in the small Queensland country town of Crows Nest, Ray White has evolved into Australasia’s biggest group with over 1,000 individual offices across Australia, New Zealand, Indonesia, India, Malaysia, Papua New Guinea, China, the Middle East and Atlanta USA. Last year, Ray White sold over $40 billion worth of property.
The 1988 R&amp;W consortium aimed at doubling the numbers of franchise offices, according to then Australian-based consortium member, Michael Sanchez.
The Wong's have decided on "a refocus of the group’s investments."
Prior to 1988 the business had traded in 1982 when Lend Lease Corporation sold it after 21 years ownership for just under $2 million on a turnover of about $100 million.
Turnover was boosted to $250 million by 1985 and around $750 million in 1988 with its then base of 78 offices in NSW, 34 offices in Queensland, seven in Western Australia and four in the ACT.
Its then owner Neil Collins secured $11 million then going into partnership with the Southern Pacific Hotel Corporation in developing the Travelcourt chain of 30 economy hotels around the country.
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