Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Reia

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The Real Estate Institute of Australia (REIA) has welcomed the announcement of support for first home buyers through a First Home Loan Deposit Scheme.
REIA President Adrian Kelly said the scheme initially announced by the Government and supported by the Opposition will start on 1 January next year and assist first home buyers with their deposit.
“Under the proposal, first home owners will be able to buy their first home with a deposit of 5% compared to 20% which has become the industry norm post the Hayne Royal Commission,” Kelly said.
“Not only will the scheme see first home buyers achieve their home ownership much earlier it will save them a considerable amount of around $10,000 by not having to pay lenders mortgage insurance.
“The scheme addresses two hurdles facing first home buyers – the deposit gap and transaction costs which include mortgage insurance – in a practical way.
“The last time the Federal Government introduced a special measure for first home buyers was the First Home Buyers Boost during the GFC.
“This measure saw first home buyers, as a percentage of total loans financed, increase from 20.2% in October 2008 to 31.4% in May 2009.
“With first home buyers currently representing just 17.9% of total housing loan approvals at the beginning of this year, the measure will be a timely boost not just for first home buyers but for the building sector and the economy in general.
“It is direct assistance like this rather than changes to negative gearing and capital gains tax which provide better outcomes for all.”
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First home buyer scheme a timely boost for mortgage industry: REIA

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GUEST OBSERVER
The December 2018 housing finance figures released by the Australian Bureau of Statistics show the number of loans for housing continues to decline.
Overall the figures for December 2018 show, in trend terms the number of owner-occupied finance commitments decreased by 0.1 per cent – the fifteenth consecutive month of decreases.
If refinancing is excluded, in trend terms, the number of owner-occupied finance commitments decreased by 1.2 per cent –also the fifteenth consecutive month of decreases and the lowest since April 2013.
In trend terms decreases were recorded in Victoria, New South Wales and Queensland.
The largest decrease of 1.3 per cent was in Queensland. South Australia, Northern Territory and the Australian Capital Territory were unchanged. Western Australia and Tasmania had increases with the largest of 0.5 per cent in Tasmania.
The value of investment housing commitments decreased by 2.5 per cent in December, in trend terms, and is the lowest since 2012 and less than half of the April 2015 peak.
In trend terms, the number of established dwellings purchase commitments decreased by 1.2 per cent while the purchase of new dwellings decreased by 0.1 per cent and new dwelling construction fell by 1.2 per cent.
The proportion of first home buyers, as part of the total owner-occupied housing finance commitments decreased in December to 17.7 per cent from 18.3 per cent in November and the number of loans to first home buyers decreased by 18.8 per cent.
The continued decline in housing finance reflects the slowing market as well as the APRA restrictions on investors, which went too far for too long, the fallout from the Royal Commission into Banking and concerns about changes to property taxation and its impact should there be a change in Government.
There is a clear risk that the decline in activity in the residential property market will become a major drag on the economy. With the Government formulating its 2019 Budget and its response to the Hayne Royal Commission the contribution the property sector makes to the economy should be at the forefront of its considerations.
ADRIAN KELLY is the President of Real Estate Institute of Australia (pictured)
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No bright spots in housing finance numbers: REIA's Adrian Kelly

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View Real Estate founder and CEO Adrian Kelly has been named the new president of The Real Estate Institute of Australia (REIA).
Kelly (above), who is from Tasmania, was elected as the 45thPresident of REIA, the national professional association for Australia’s real estate sector at the Annual General Meeting held in Canberra yesterday.
Hayden Groves from Western Australia was re-elected Deputy President for another 12 months. 
Kelly was born and raised in Hobart and has worked in the Tasmanian real estate industry since 1990. 
He is the founder and CEO of View Real Estate, an independent agency comprising seven sales and property management offices across Tasmania.  
Kelly's real estate experience includes residential sales, property management and commercial sales including hotels and motels. 
He is also an accomplished auctioneer having spent a number of years as a full-time auctioneer within his own business specialising in plant and equipment and asset sales for local councils, finance companies among others. 
Adrian is a licensed Estate Agent, Board Member of the Real Estate Institute of Tasmania (REIT) as well as the immediate past President of the REIT having served in that role for four years. He also sits on the Property Agents Board which is the regulatory authority in Tasmania and is an Associate of the REIA. He is the seventh President to be elected from Tasmania and the first since Peter Bushby who served from 2012 to 2014. 
In accepting the role, Kelly thanked out-going President, Malcolm Gunning, from New South Wales, who has held the position for two years.
“Malcolm has provided excellent stewardship of the organisation since 2016 and during that time he has achieved much in ensuring that our members have a strong national voice,” Mr Kelly said.
“On behalf of the REIA Board and the REIA Secretariat, we extend our sincere thanks to Malcolm for his professionalism and commitment to the role during his tenure."
Kelly said next year will be an equally important one for the sector with the upcoming Federal Election and the public debate continuing on taxation of housing and affordability.   “REIA will continue to be a strong advocate for the retention of negative gearing, will continue to lobby for taxation reform at all levels and for the appointment of a dedicated Minister for Property Services,” Kelly said. 
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View Real Estate founder Adrian Kelly replaces Malcolm Gunning as REIA president

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House prices have seen the largest decrease since December 2011, according to the latest research from the Real Estate Institute of Australia.
REIA Real Estate Market Facts for the September quarter 2018 shows weighted average median prices fell by 1.6 per cent for houses, the most in almost seven years and by 0.8 per cent for other dwellings, their largest decline in 12 months. 
REIA President Malcolm Gunning said the weighted average median price for houses for the eight capital cities decreased to $751,411 over the quarter, with prices decreasing in all capital cities except for Brisbane and Adelaide and remaining stable in Melbourne.  “The weighted average median price for other dwellings decreased to $587,959 over the quarter, with prices decreasing in all capital cities except for Melbourne and Canberra," Gunning said.
"Hobart had the largest fall in house prices and Darwin had the largest fall in other dwellings. Hobart has the lowest median price for houses at $475,000 and Adelaide the lowest median price for other dwellings at $344,000. 
“Over the quarter, the median rent for three-bedroom houses increased in Melbourne and Hobart, remained steady in Sydney, Brisbane, Adelaide, Perth and Canberra. Darwin was the only capital where the median rent for three-bedroom houses declined.  Gunning said the median rent for two-bedroom other dwellings increased in Melbourne, Brisbane and Adelaide, remained steady in Sydney, Perth and Canberra and, decreased in Hobart and Darwin. Melbourne had the largest increase while Hobart had the largest decrease. “The weighted average vacancy rate for the eight capital cities increased to 2.6 per cent during the September quarter indicating a slight easing of the rental market.  “The markets of Sydney, Melbourne, Brisbane, Canberra and Hobart have vacancy rates below the 3.0 per cent benchmark indicating a strong demand for rental accommodation in these capital cities.  
“Reflecting the squeeze on loan approvals, over the past 12 months, loan numbers have decreased by 11.9 per cent across the country with loans to first home buyers decreasing by 3.7 per cent. Gunning said the size of loans has also fallen with the average loan across Australia dropping by 1.8 per cent, the largest quarterly decrease since March 2017.  “Loans to first home owners are also reducing in size. Up until a year ago the average loan to those entering the market was above 90 per cent of the rate of non first home buyers. Since June 2017, this rate has decreased to 80 to 85 per cent," Mr Gunning concluded.
 
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House price drop largest in seven years: REIA 

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EXPERT OBSERVATION
The Real Estate Institute of Australia welcomes the recent contribution by the Master Builders Association and the Housing Industry Association to the understanding of the economic impacts of changes to current arrangements for negative gearing and capital gains tax on property.
“The commissioned research highlights the significant contribution that the property sector makes to growth in the Australian economy,” REIA President Malcolm Gunning said. “Australia’s property industry including new home building has been a crucial support to economic growth and increased employment in the transition away from a decade-long reliance on mining,” Mr Gunning said.
“The property sector is one of the largest sectors in the Australian economy in terms of employment, GDP and investment. It is also one of the most heavily taxed sectors with research by HIA showing that the average tax burden on the new housing sector is around 30 per cent of the value.
“If we are serious about addressing housing affordability we need to take a holistic approach by looking at all taxes and charges impacting on the final cost of housing. We cannot just tinker with one or two that are ‘easy fixes’ without fully considering the consequences.”
Mr Gunning said the government needs to be looking at supply-side solutions including streamlining planning processes and reducing extra taxation on homebuyers such as stamp duties.
“Improved infrastructure such as public transport to employment hubs which encourage decentralisation to more affordable suburban and regional areas should be considered. “Recognising the importance that the property sector plays in the economy, REIA advocates the appointment of a Minister for Property Services,” Mr Gunning said.
“The Minister for Property Services can take leadership in addressing housing affordability by coordinating a holistic approach of all levels of government in objectively addressing all property taxes. For example, research shows that abolishing stamp duties and replacing them with land tax not only has a greater impact on affordability than changes to negative gearing and capital gains tax but improves economic growth.
“It is only then that a strategy can be formulated that pulls the right levers,” Mr Gunning concluded.
Malcolm Gunning is the REIA President.
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REIA calls for holistic approach to property taxation: Malcolm Gunning

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EXPERT OBSERVER
Property prices across Australian capital cities fell in the June quarter 2018 with the weighted average median prices decreasing by 0.8 per cent for houses and 0.3 per cent for other dwellings, according to the latest report from the Real Estate Institute of Australia.
The Real Estate Market Facts report shows the weighted average median price for houses for the eight capital cities slid to $765,098 over the quarter, with prices dropping in all capital cities except for Brisbane, Adelaide and Hobart.
The weighted average median price for other dwellings decreased to $590,935 over the quarter, with prices falling in all capital cities except for Melbourne, Brisbane, Hobart and Darwin.
Canberra had the largest fall in house prices and Adelaide had the largest decline in other dwellings. Adelaide has both the lowest median price for houses at $471,000 and the lowest median price for other dwellings at $354,167.
Over the quarter, the median rent for three-bedroom houses increased in Canberra and Darwin, remained steady in Perth and, decreased in Sydney, Melbourne, Brisbane, Adelaide and Hobart. The median rent for two-bedroom other dwellings increased in Canberra and Hobart, remained steady in Perth and decreased in Sydney, Melbourne, Brisbane, Adelaide and Darwin. Hobart had the largest increase while Brisbane had the largest decrease.
The weighted average vacancy rate for the eight capital cities fell to 2.5 per cent during the June quarter indicating a tighter rental market. Canberra has the tightest market with a vacancy rate of 0.8 per cent.
Over the past 12 months, loan numbers have decreased by 3.8 per cent across the country with declines in all states and territories except Tasmania. The largest decrease of 13.6 per cent was in Western Australia.In Sydney and Melbourne – the two cities which have had the largest price increases over the past few years – the drop in loans is attributable to APRA restrictions on investment loans and more stringent home lending criteria.
The June quarter figures reflect reports of a changing dynamic in the market, particularly in the nation’s major cities.
Malcolm Gunning is the REIA President
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Housing prices continue to decline: Malcolm Gunning 

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EXPERT OBSERVATION
The May 2018 housing finance figures released today by the Australian Bureau of Statistics show that the number of loans for housing has continued to decline over the last eight months.
Overall the figures for May 2018 show, in trend terms that the number of owner-occupied finance commitments decreased by 0.7 per cent –the eighth consecutive month of decreases. If refinancing is excluded, in trend terms, the number of owner-occupied finance commitments decreased by 0.6 per cent –the ninth consecutive month since an increase.
In trend terms decreases were recorded in all states and territories except Tasmania, where lending increased by 0.3 per cent. The largest decrease of 1.9 per cent was in the Australian Capital Territory.
The value of investment housing commitments decreased by 1.9 per cent in May in trend terms. The dollar amount approved for the purchase of dwellings by individuals for rent or resale is at the lowest level since February 2016.
In trend terms, the number of established dwellings purchase commitments decreased by 0.6 per cent while the purchase of new dwellings decreased by 0.9 per cent and new dwelling construction fell by 1.5 per cent.
The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, remained unchanged in May at 17.6 per cent.
The continued decline in housing finance confirms the feedback from the market that the APRA restrictions and the fallout from the Royal Commission into Banking have resulted in an extremely cautious approach by lenders.   
Loan applications are now being scrutinised for real costs of living including outgoings such as school fees and use of credit cards. At the same time an ultra conservative approach is being taken by banks with their valuations which means that funds available are below purchaser’s expectations.   
We need to ensure that lending approaches reflect the market rather than set the market which appears to be case at the moment.
Malcolm Gunning is the president of the REIA and can be <a href="https://www.gunningre.com.au/agents/1stf0026/Malcolm-Gunning" target="_blank">contacted here.</a>
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Housing finance numbers confirm market feedback: REIA

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The median house price across Australian capital cities has increased by 4.1 per cent for houses and 2.1 per cent for other dwellings, according to the latest data from the Real Estate Institute of Australia, adding to the debate about housing unaffordability.
The weighted average median house price for the eight capital cities was $743,496, according to the REIA Real Estate Market Facts for the December quarter 2016. 
The REIA had recently said that record low interest rates have failed to ease housing woes, with New South Wales leading the decline in affordability across all states in the December quarter of 2016. The RBA has voiced its concern several times, while the NSW Premier Gladys Berejiklian has said housing affordability is "the biggest issue people have across the state".
REIA president Malcolm Gunning said over the year, the median house price increased in all capital cities except Perth and Darwin, reflecting the differing fortunes of state economies. 
“At $1,134,075, Sydney’s median house price is the highest among the capitals whilst Hobart retains the lowest at $430,000 - the figure is 42.2 per cent lower than the national average,” Gunning said.
“The median price for other dwellings increased to $572,254 as median prices increased in Sydney, Melbourne, Hobart and Darwin.
While Hobart and Adelaide had the lowest median prices over the quarter, Hobart had the largest increase in both the median price for houses at 6 per cent and 11.7 per cent for other dwellings.
Both investor finance and owner-occupied housing finance (excluding re-financing) also showed strong increases of 8.8 per cent and 11.1 per cent respectively, after small decreases in the previous quarter, said the REIA.
“The level of investor activity is not unexpected when you consider that 10-year average annual returns for residential investment property range from a low of 6.5 per cent for houses in Perth to 10.5 per cent for two-bedroom units in Sydney with most returns being around 8 per cent. 
“This tells us why property is favoured above other forms of investment,” Gunning said. 
Median rents for houses during the quarter remained steady or increased in all capital cities except Darwin.  Median rents were steady in Brisbane, Adelaide and Perth. Canberra had the largest increase at 9.5 per cent followed by Hobart with a rise of 6.1 per cent. Median rents for other dwellings remained steady or increased in most capital cities except for Sydney, Perth and Darwin. In Melbourne and Canberra, median rents for other dwellings remained steady.
“The weighted average vacancy rate for the eight capital cities decreased to 2.9 per cent during the December quarter, a decrease of 0.2 percentage points. In most capital cities, the vacancy rates dropped by between 0.1 to 0.2 percentage points. In Hobart, the vacancy rate remained steady while in both Darwin and Canberra it increased. Darwin and Perth continue to have the highest vacancy rates at 7.8 per cent and 6.4 per cent respectively.
 
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Median house prices across capitals up 4 percent in December quarter: REIA

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The Real Estate Institute of Australia in partnership with the Institute of Public Accountants (IPA) has launched a new training course for real estate agents providing advice regarding property as an investment.
REIA President Malcolm Gunning said the RG146 Advice in Real Estate Course designed by IPA and provided through Mentor Education will allow property investment advisers, mortgage brokers, accountants, real estate agents and property developers to discuss the general drivers and considerations associated with a property investment decisions.
“Offering this course to agents is part of a broader strategy to professionalise the industry and to provide clients the level of advice they desire from agents providing a comprehensive service.
“Upon completion of the course, agents will have satisfactorily fulfilled ASIC’s RG146 requirements and will be able to offer general advice on financial products and services.
This will also allow them to provide factual advice on what the products are and what they do,” Mr Gunning said.
Agents undertaking the course will gain a nationally recognised competency to provide factual advice on financial products and services.
Factual advice is defined by ASIC as “objectively ascertainable information whose truth or accuracy cannot be reasonably questioned”.
This compares to general advice which ASIC defines as “advice prepared without taking into account the client's objectives, financial situations or needs.
“ASIC have indicated that successful completion of the RG 146 course would allow agents to conduct seminars, presentations, office and sales meetings and to discuss in general terms other such as Self Managed Superannuation Funds.
However, an agent would need to need to be authorised by an Australian Financial Services licensee to provide this advice or alternatively obtain an AFS licence themselves,” Mr Gunning said.
REIA commenced discussions with IPA regarding the establishment of a tailored course for Real Estate professionals in regard to property advice following a Supreme Court of NSW decision in October 2015 against Park Trent Properties Group Pty Ltd regarding advice real estate agents give particularly as it relates to SMSFs.
An outline of the course together with enrolment details can be found at <a href="https://www.publicaccountants.org.au/reia" target="_blank">https://www.publicaccountants.org.au/reia</a>.
Members of REI’s that are part of REIA will receive a 10 per cent discount.
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REIA launches course for estate agents providing financial advice

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Record low interest rates have failed to ease housing woes, with New South Wales leading the decline in affordability across all states in the December quarter of 2016, according to the Real Estate Institute of Australia.
The proportion of income required to meet loan repayments rose to 30.4 per cent, an increase of 0.9 percentage points over the quarter but a decrease of 1.9 percentage points compared to the corresponding quarter of 2015, according to the Adelaide Bank/REIA Housing Affordability Report.
REIA president Malcolm Gunning said historically low interest rates and modestly rising incomes were unable to offset the increasing size of mortgages, increasing the proportion of the median family income required to meet monthly loan repayments.
“Over the December quarter, affordability declined in all states with New South Wales the least affordable, while Tasmania had the smallest average loan size,” Gunning said. 
"The proportion of first home buyers on the owner-occupier market was the largest in Western Australia.”
Rental affordability also fell during the fourth quarter of 2016 with the proportion of median family income required to meet rent payments increasing 0.2 percentage points to 24.4 per cent. 
Whilst rental affordability declined for the quarter, it was up for the 12 months to December, the report showed. Since mid-2012 rental affordability has been showing a trend improvement, reflecting the pick up in investment in housing from the end of 2011.
Rental affordability for the quarter declined in New South Wales, Victoria, Western Australia, Tasmania and the Australian Capital Territory but improved in Queensland, South Australia and the Northern Territory.
The number of first home buyers increased in all states and territories over the quarter. First home buyers now make up 13.8 per cent of total owner-occupied housing. This rate has been dropping steadily over the past 5 years.
However, the size of the average loan for first home buyers increased by 1.3 per cent over the December quarter to $323,633, but below the peak in the December quarter 2015.
“While the modest increase in first home buyers is welcome news, the increase in the average loan size is concerning. If this trend continues, then the proportion of first home buyers in the market will continue at low rates,” Gunning concluded.
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