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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The latest Domain Rental Market Report has noted median weekly house rents across Melbourne Adelaide, Hobart and Canberra are at record high and predicts the worst is yet to come for the Perth housing market. 
Domain Senior Economist, Dr. Andrew Wilson, said Sydney house rents were steady, with even a drop in median unit rents.
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"While unit rents remained steady overall, higher unit vacancy rates are providing more choice for tenants in most capitals,” he said.
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“Most capital cities have seen an increase in median weekly rental prices over the December quarter. Melbourne, Adelaide, Hobart, and Canberra were the standout performers in terms of housing rental market growth while Sydney saw a steadying of house rents and even a drop in median unit rents. 
“Sydney unit rents fell for the first time in more than three years reflecting significant numbers of new apartments entering the market. Sydney house rents, however, remain at record levels – and with the already low vacancy rates still falling there is no relief in sight for tenants."
He said Melbourne house rents have continued to soar to new record highs with low vacancy rates signalling that tenants can expect more increases to come.
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"Melbourne unit vacancy rates, however, are increasing with new apartment stock surging,” he said. 
“It’s a good news story for Brisbane tenants with house rents remaining steady for two years straight and vacancy rates still rising for both houses and units."
VACANCY RATES
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jonathanchancellor-7SQnKwU6yx

Rents hit record highs in most Australian capital cities: Domain

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A median property value of $315,000 and rental yields superior to those offered by capital cities makes it worth considering Australia’s twenty-ninth biggest city as a viable option to add to a property portfolio.
With a population of 63,000, Wagga Wagga is New South Wale’s largest inland city. It has essential health infrastructure, tertiary education offerings through Charles Sturt University, and a quality commerce and retail hub. Wagga Wagga services a broader Riverina regional population of 200,000 people.
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<img src="/images/2016/01/13/Screen%20Shot%202016-01-13%20at%209.23.26%20AM.png" alt="" width="734" height="388"> 
Located along Australia’s national (Hume) highway, transport and warehousing are important industries, with Toll Holdings a major employer. Heinz (processed food), Teys (abattoirs), Cargill (grain), and Riverina Oils &amp; Bio Energy are also employers which manufacture agricultural products from the region. 
The Kapooka army recruitment base and the Forest Hill RAAF logistics and training base are staples to the economy.
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<img src="/images/2016/01/12/Screen%20Shot%202016-01-12%20at%2012.30.56%20PM.png" alt=""> 
The Murray Darling Basin supports the agriculture industry. Heavy clay soils have been the subject of much conjecture over the years. Parts of Wagga Wagga do suffer localised flooding, mostly in pockets to the north, the historical part of the city. The suburbs to the south of the city are newer and on higher land.
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<img src="/images/2016/01/12/WaggaWagga_BldgApprovals_2001-2015.jpg" alt="">
During 2015, there were approximately 77,000 jobs spread across the Riverina region.
For the two year period ending August 2015, the region’s growth in jobs had been neutral compared to the 3 percent national increase. Propertyology believes that the outlook for jobs in the region is a healthy one largely due to the significant extra demand for quality agricultural products from Asia’s fast rising middle class.
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<img src="/images/2016/01/12/WaggaWagga_JobsCreated_2000-2015.jpg" alt="">
Free Trade Agreements recently signed with South Korea, Japan, and China (India is also expected to follow) paves the way for a huge opportunity for Australian agriculture. The region is Australia’s biggest producer of wine grapes, rice, and chicken, while beef and grain are also very prominent.
With numerous wineries and picturesque landscapes, cottage tourism is popular in the region. According to Destination NSW, visitors spent more than 2.5 million nights in the Riverina in the year to March 2015 – up by 4.4 percent on 2014. Overall visitation to regional NSW increased by 4.1 percent. 
Significant job creation projects in the Region’s pipeline include: 
<ul>
<li>A $75 million Intermodal Freight and Logistics hub in Wagga Wagga</li>
<li>New dam infrastructure proposed at Lake Coolah and Narrandera</li>
<li>A $2 million freight terminal at Leeton</li>
<li>A $14 million new shopping centre in the Wagga Wagga suburb of Estella</li>
<li>A large discovery of tin reserves at Adlethan 
</li>
</ul>
It might surprise people to know that Wagga Wagga’s 7.1 percent average annual price growth over the fifteen years since the turn of the Century was better than Greater-Sydney’s price growth of 6.3 percent over the same period. Out of 550 local governments in Australia, Wagga Wagga’s property market was ranked 240th on total return (average annual price capital growth + rental yield) over the fifteen years since 2000.
Average annual population growth over the last ten years of 0.9 percent is credible. A young demographic, a labour force with a good skills base, cost of housing almost 50% below the national average, and household incomes just below the national average add to the very solid fundamentals of the region’s property markets.
<a href="/images/2016/01/12/WaggaWagga_PropertyMarket_1990-2015.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/12/WaggaWagga_PropertyMarket_1990-2015.jpg" alt=""> 
Property values increased by 2 percent to 4 percent during 2015. Of more significance, property sales volumes were the highest that Wagga Wagga has seen since 2009; this is a good indication for local confidence.
As with most of Australia, building approvals in Wagga Wagga have been increasing over the last few years. The housing supply pipeline mostly contains detached houses with a few new estates popping up. The rate of new supply appears to be more sensibly controlled than many of Australia’s bigger profile cities.
The factors likely to influence housing demand and supply, combined with Wagga Wagga’s economic profile, are such that Propertyology forecasts its property market to be a steady performer and potential for a superior return to property investors than higher profile cities such as Sydney and Melbourne over the next few years. Investors could do a lot worse than Wagga Wagga.
SIMON PRESSLEY IS MANAGING DIRECTOR OF <a href="https://www.propertyology.com.au/" target="_blank">PROPERTYOLOGY</a>, AN REIA HALL OF FAME INDUCTEE, PROPERTY MARKET ANALYST, ACCREDITED PROPERTY INVESTMENT ADVISER, AND BUYER’S AGENT. PROPERTYOLOGY WORKS EXCLUSIVELY WITH PROPERTY INVESTORS TO PURCHASE PROPERTIES IN STRATEGICALLY CHOSEN LOCATIONS ALL OVER AUSTRALIA. 
{mijopolls 124}
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spressley-sBoeMhannA

Wacky or realistic? Wagga Wagga property tipped to outperform Sydney and Melbourne from 2016: Simon Pressley

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Built at Victoria's Torquay in 2014, the architectural beauty 6 Loch Lomond Crescent has come on the market with $1.35 million plus expectations.
<a href="https://www.realestate.com.au/property-house-vic-torquay-121175066" target="_blank">The Hocking Stuart agent Shaun O’Callaghan </a>says its "a raw, architectural two-storey experience of concrete, marble and brass, north-facing double glazed windows and bluestone pavers."
He adds the modern home is a unique combination of low fuss modern living under a roof garden. Around 275 sqm in floor space.
With sheltered central garden, the main home contains three bedrooms plus a study and two bathrooms. A self-contained studio comes with its own access at the top of a winding staircase.
There's plenty of concrete walls plus more concrete in the island bench in the kitchen and a fireplace in the living room.
The 579 square metre block cost $170,000 in 2006, which was less than the $190,000 in 2002.
There was a snappy sale a few doors away at 16 Loch Lomond at $815,000 of a contemporary 2008 built home. Torquay's highest recorded house price during 2015 was $2 million for 261 The Esplanade in March. There was a $2.3 million rural acreage sale too.
The Auhaus Architecture designed property will feature in an upcoming edition of Belle Magazine and GT Magazine.
Even Beacon Lighting's summer campaign.   
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jchancellor-FAypfDUnLy

Concrete abounds at contemporary Torquay offering under garden roof

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GUEST OBSERVER
Australia’s population rose by 0.3% over QII and annual growth held steady at 1.4%.   Australia’s population is estimated to be 23.8 million as at June 2015.   Net migration continues to be the driver of population growth, although its contribution to growth has eased.
The big picture
Australia’s population growth rate has been easing as a result of a slowdown in net overseas migration. The decline in the population growth rate has been a contributing factor to why potential growth in Australia is now estimated to be around 2¾% (potential growth was previously assumed to be around 3¼%).  Weak productivity growth and the ageing of the population have also weighed on potential growth.
Australia’s population growth rate was over 2% in 2009.        Notwithstanding, at 1.4%pa, Australia’s population growth rate is still a lot faster than most other OECD countries. This means that the economy needs to be expanding at a faster pace than most other OECD countries to achieve full employment.   
<a href="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.12.08%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.12.08%20PM.png" alt=""> The major driver behind Australia’s population growth continues to be net overseas migration (NOM).  However, its contribution to population growth has come down over the past few years.  Both sides of federal politics favour high levels of immigration to partially offset some of the effects from the ageing of the population.
The ‘grey army’ – those aged 65 and over – continue to grow as a share of Australia’s population. The growth of this age cohort underpins the structural decline in labour force participation. That said, there has recently been a cyclical bounce in the participation rate due to a lift in the demand for labour. The aging of the population has increased the dependency ratio (the age‑population ratio of those typically not in the labour force) which underpins the need for fiscal reform.
<a href="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.13.20%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.13.20%20PM.png" alt=""> The detail
Australia’s population is estimated to have risen by 73k in QII (+0.3%). The lift takes the population to 23.8 million as at June 2015. The ABS estimates that NOM was 168k in 2014/15, down from 189k in 2013/14.  And well down from the peak of 315k in 2008.
State outcomes are mixed, but population growth rates have been converging. The decline in mining investment and associated downturn in mining‑related employment has contributed to a sharp slowdown in WA’s population growth. Victoria’s population growth rate is the highest across the States. Strong population growth in the Garden State underpins the big lift in residential construction in Melbourne.
Table 1 - Population Growth Q2 2015
<a href="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.14.51%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.14.51%20PM.png" alt="" width="689" height="145">
Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here</a>.
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mick.cee-iDmgDDAmu8

Australia's population growth rate continues to ease: CBA's Gareth Aird

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The top sale of the week was a five bedroom waterfront home in the Sydney suburb of Cremorne, according to CoreLogic RP Data.
The property, <a href="https://www.domain.com.au/22-wonga-road-cremorne-nsw-2090-2012402717" target="_blank">22 Wonga Road, Cremorne</a>, (above) sold for $6,330,000 through McGrath Estate Agents Neutral Bay.
 
Top ten sales 
22 Wonga Road, Cremorne, NSW 5 bed, 4 bath, 3 car house, $6,330,000, McGrath Estate Agents Neutral Bay Mosman 
157A Seaforth Crescent, Seaforth, NSW 4 bed, 3 bath, 3 car house, $5,700,000 LJ Hooker Seaforth 
21/51 Upper Pitt Street Kirribilli, NSW 3 bed, 2 bath, 3 car unit, $5,500,000 LJ Hooker Wahroonga 
2 Ethel Street, Burwood, NSW 7 bed, 3 bath, 6 car house, $4,325,000 Rich &amp; Oliver Real Estate Croydon Park 
14A View Street, Peppermint Grove, WA 5 bed, 4 bath, 2 car house, $3,890,000 Acton Cottesloe Peppermint Grove 
19 Karranga Avenue, Killara, NSW 5 bed, 4 bath, 2 car house, $3,600,000 McConnell Bourn Lindfield
44/51 William Street, Double Bay, NSW 3 bed, 2 bath, 2 car unit, $3,450,000 BradfieldCleary Double Bay 
24A Dendy Street, Brighton, Vic 5 bed, 6 bath, 3 car house, $3,300,000 Kay &amp; Burton Bayside 
31 Campbell Street, Sorrento, Qld 5 bed, 4 bath, 3 car house, $3,118,000 McGrath Estate Agents 
2 Hoyt Street, Hampton, Vic 4 bed, 3 bath, 2 car house, $3,100,000 Nick Johnstone Brighton
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mcrawford-f5HDUcy2ms

Cremorne four bedder leads CoreLogic RP Data top 10 sales

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Melbourne-based OpenCorp, a startup founded by Allister Lewison, his brother Matthew and Cam McLellan, has become the sixth fastest-growing company on the 2015 BRW Fast 100 list. 
The company boasts an annual growth of more than 175% from 2012 to 2015. 
It all started in the late 90s when Allister Lewison and McLellan purchased their first investment properties on the same Melbourne street. 
“I think everybody at some point has a ‘light bulb’ moment where they realise that they aren’t headed in the direction they had hoped for their lives,” Allister Lewison says. 
Based on their early success investing, the duo began educating their friends and family about the industry and encouraging them to invest under their guidance.  
"We didn’t plan to create a business...We were providing our friends and family with advice on how we started our own portfolios,” Lewison says.  
His brother Matthew spotted an opportunity in the market for an investment company that spoke to the “everyday Australian,” with potential for their work to become an established business. 
At the time, McLellan and Allister Lewison were directing their own telecommunications and IT companies, but eventually made the decision to unite with Matthew to create OpenCorp’s offering.
“When we started out, there really wasn’t a company appealing to lower income or even middle income earners to reap the rewards of property investment,” Allister Lewison says.
“This bracket of the population was completely left of the equation, and it was our job to change this.” 
OpenCorp provides two kinds of services. Clients can build their own property investment portfolios with the aid of OpenCorp, or invest in one of OpenCorp’s property developments starting from $10,000.  
The company also contributes its own money into every opportunity to earn the trust of its clients. It also holds an Australian Financial Services Licence. 
The Lewisons and McLellan are supported by a team of over 45 market specialists across their Melbourne and Brisbane offices, and have been involved in more than $4 billion of property transactions. 
The concern of losing money is arguably the main factor that deters potential buyers (particularly those of low to average incomes) from participating in investment.
“To those people, I say the fear of doing nothing should be a bigger fear,” Allister Lewison says. 
“The fear of turning 65 and retiring on $32,000 a year for a couple should be scarier than doing something today.”
Allister Lewison has also featured on 2015 BRW Young Rich list with an amassed $24 million fortune.
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j.ballantyne1990-6AQqhLzZaK

OpenCorp, opening real estate doors to mum and dad investors

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<div>Melbourne-based property investment company OpenCorp has acquired sites in Queensland to develop an estimated $360 million in projects at Albion and West End.</div>
<div> </div>
<div>The Albion site was bought for $11 million, inclusive of existing development approval for 154 apartments. </div>
<div> </div>
<div>Designed by Hayes Andersen Lynch Architects , the development will comprise one, two and three-bedroom apartments worth an estimated total of $89 million. </div>
<div>OpenCorp expects Albion’s housing values to rise significantly, being five kilometres from the CBD and bordering on the blue-chip areas of Ascot, Hamilton and Clayfield. </div>
<div> </div>
<div>The other project, in West End, will comprise of 106 apartments with an end value estimated in excess of $50 million. </div>
<div> </div>
<div>Construction has commenced on the project, named Citro, and is expected to be complete in early 2017. </div>
<div> </div>
<div>Prices for the remaining 33 apartments start from $369,000 (one bed, one bath, no car).  Two-bedroom apartments (one bath, one car) start from $499,000.</div>
<div> </div>
<div>According to OpenCorp, both units are priced below the suburb’s median price. The median one-bedroom unit price in West End is $375,000 and it is $552,000 for a two-bedroom.</div>
<div> </div>
<div>A high proportion of buyers in Citro are interstate investors entering the Queensland market due to Brisbane’s lower prices than Sydney and Melbourne , as well as the high rental returns, OpenCorp said.</div>
<div> </div>
<div>The project will comprise a roof terrace with an infinity edge pool and cinema. </div>
<div> </div>
<div>Citro is walking distance to the Brisbane River and just two kilometres from the CBD.</div>
<div> </div>
<div>Funds for development sites are crowd sourced from OpenCorp’s clients, who can invest from $10,000.</div>
<div> </div>
<div>OpenCorp’s other Brisbane projects include the Aston Apartments in Nundah and Evolve and Hemingway in Chermside. Hemingway, worth an estimated $70 million, will hit the market in February 2016.</div>
<div> </div>
<div>For more information, <a href="https://www.opencorp.com.au" target="_blank">click here</a>.</div>
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OpenCorp expands into Queensland development

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Artificial intelligence, automation, robotics, 3D printing and other technologies are shaping the future of cities in high-speed and unpredictable ways, according to the latest Savills Europe report.
It is still debatable whether the innovations of the future will have a positive or a negative impact on society, <a href="https://image.email.savills.info/lib/fe9e13707565057575/m/1/megatrends-in-european-real-estate---issue-1-2015.pdf" target="_blank">the Megatrends in Europe report concludes</a>.
"On the one hand new technologies facilitate our lives, but on the other they displace middle level jobs, leading to increasing structural unemployment and income inequality.
"The optimists argue that, historically, technological evolution has created new jobs and industries as much as it has destroyed some of the older ones.
It suggests the affinity of the Y and Z generations with technology determines their expectations, their lifestyle and the way they relate to space.
"The smart technologies of the future will change the way we live our lives, but will they also alter the way we use physical space? connectivity, contact, communication, comfort, choice and collaboration.
"In Europe, internet penetration exceeded 70% and mobile use penetration exceeded 60% in 2014, and continue to grow.
"Information technology and the digital world reshape the real one and re-define work, mobility, communication, retailing and distribution, as users achieve more by moving less.
"Big data gathered via sensors, surveys, mapping and other sources will enable the policy makers and urban planners to analyse and share the information, leading to more efficient, more manageable, ‘smarter’ cities.'
It concluded the real estate industry is trying to adapt and preempt the changes that new technologies bring to people’s habits and lifestyle.
"It is not clear yet if technology will lead to a dramatic reduction in the need for physical space or will change the way space is used.
"Geography remains important and people continue to cluster in hubs of like-minded people.
"Cities with a spirit of innovation are likely to attract young talent and become hubs of communication, collaboration and knowledge.
"The large European capitals of London, Paris, Berlin, Munich, Amsterdam, Vienna are established centres of innovation, while smaller secondary cities also compete for this title.
It noted last year the European Commission awarded Barcelona the title of European Capital of Innovation (iCapital) ahead of Grenoble and Groningen for ‘introducing the use of new technologies to bring the city closer to citizens’. 
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Savills Europe suggests winners and losers in the high tech cities of the future

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The former Wallaby and professional rugby union player Mark Gerrard has sold his recently completed new build at Narrabeen for around $2.5 million. 
Mark, who is currently playing for the Toyota Industry Shuttles in Japan, only finished the four bedroom Narrabeen home in early spring. Paul Franks of Domain Real Estate was the selling agent for the property.
Gerrard, who gew up in Narrabeen, earned 23 caps for Australia over his two year national team career. He had been an apprentice carpenter for three years so he loved getting involved in his first project on the 700 sqm block.
The former Melbourne Rebels fly-half was set to live in the home with his wife, Larisa and their three children, however when Larisa fell pregnant during construction and with Mark living in Japan they felt the home was too big for her to care for four children.
“We still had the thought of living here for good after he was born", he said.
“But as time went by and the house took a lot longer to build, our plans changed.”
Marks favourite feature of the home is the indoor/outdoor, pool bar which is adjacent to the gourmet kitchen.
"I am most proud of the kitchen with its four metre Carrara marble island bench," he said.
“You can be at the pool bar and still see the view through the kitchen and out to the deck and beyond."
The pool is positioned on the top floor of the three level property.
“The open space … up there is relaxing, like you’re up in your own treetop oasis,” he suggested.
 
This article was first published in the Saturday Daily Telegraph.
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Rugby player Mark Gerrard sells in Narrabeen

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<h1> </h1>
Capital city price growth will slow in the new year to between 2 and 5%, with price growth from Sydney and Melbourne unlikely to meet that of 2015, according to new data released from Domain.com.au.
The Domain State of the Market report states while house prices are expected to increase in 2016 across all capital cities, they will do so at more subdued rates.
Domain.com.au senior economist Dr Andrew Wilson said buyers and sellers will see a significant change to the dynamic of Australia’s capital city housing markets in 2016.
“Australian housing markets have generally experienced a rollercoaster ride of buyer activity and prices growth through 2015, in the face of dramatic changes to interest rates, he said.
"Depending on local supply and demand, we are likely to see house price growth of between two and five per cent over the next 12 months. The extraordinary prices growth reported by Sydney and to a lesser degree Melbourne over the past year will not be matched over 2016, with those markets rapidly returning to the pack. 
"While the housing market is likely to be relatively subdued comparatively, it is likely that activity from some buyer types – particularly investors – will remain robust and increase. Despite higher interest rates, investors will be drawn to the relatively high yields available and continued taxation advantages – particularly for small-scale investors."
National house price growth expectations for 2016 The following table outlines the expected house price growth for each capital city: 
<div dir="ltr">
<table>
<colgroup>
<col width="184">
<col width="176">
</colgroup>
<tbody>
<tr>
<td colspan="2">
2016 mid-range house price growth forecasts
</td>
</tr>
<tr>
<td>
Sydney
</td>
<td>
4%
</td>
</tr>
<tr>
<td>
Melbourne
</td>
<td>
5%
</td>
</tr>
<tr>
<td>
Brisbane
</td>
<td>
4%
</td>
</tr>
<tr>
<td>
Adelaide
</td>
<td>
4%
</td>
</tr>
<tr>
<td>
Perth
</td>
<td>
2%
</td>
</tr>
<tr>
<td>
Hobart
</td>
<td>
4%
</td>
</tr>
<tr>
<td>
Darwin
</td>
<td>
3%
</td>
</tr>
<tr>
<td>
Canberra
</td>
<td>
4%
</td>
</tr>
</tbody>
</table>
</div>
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