ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Rental Prices

<html><body>
Queensland's Gladstone has the cheapest property rentals of the country.
CoreLogic calculated Barney Point has the cheapest house median rental and South Gladstone has the cheapest when it comes to units.
There is a three bedroom Barney Point cottage at 8 Callide Crescent <a href="https://www.realestate.com.au/property-house-qld-barney+point-415504567" target="_blank">available at $170 a week</a> (above).
Blackall, Clinton, Calliope and West Gladstone are also on the national top 10 list for 2017.
 
Houses                    Median Value Median Rent
Qld Barney Point Gladstone $186,162 $150             
Qld Blackall Blackall Tambo $175,361 $150             
Tas Zeehan West Coast $96,377 $150                     
Tas Rosebery West Coast $91,907 $160                  
Tas Queenstown West Coast $93,707 $160               
Vic Ouyen Mildura $124,315 $160                            
WA Kambalda East Coolgardie $90,978 $160             
SA Peterborough Peterborough $109,475 $165          
SA Coober Pedy Unincorporated SA $130,463 $170     
Qld Dysart Isaac $98,187 $170                                  
 
Units 
Qld South Gladstone Gladstone $120,964 $120
Qld Clinton Gladstone $241,178 $120
SA Whyalla Stuart Whyalla $146,462 $135
SA Millicent Wattle Range $172,655 $143
SA Whyalla Norrie Whyalla $158,967 $150
Qld Tannum Sands Gladstone $184,350 $150
Qld Calliope Gladstone $174,677 $150
Qld West Gladstone Gladstone $170,353 $150
Qld Barney Point Gladstone $135,473 $150
SA Whyalla Whyalla $166,005 $153
 
 
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j.ballantyne1990-6AQqhLzZaK

Queensland's Gladstone has Austraia's lowest median rentals

<html><body>
Bellevue Hill ranks as the priciest suburb with its median rent for houses at $1,875 a week.
The Rock in Sydney was the dearest location for apartment rentals, according to CoreLogic.
Sydney took all the top 10 suburbs in both lists.
There is a <a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-422769938" target="_blank">$3800 a week rental currently on offer</a> in Bellevue Hill at Latimer Road (above).
Houses                                                                    
NSW Bellevue Hill Woollahra $5,316,587 $1,875   
NSW Northbridge Willoughby $3,811,426 $1,800    
NSW Vaucluse Woollahra $5,471,853 $1,795                
NSW Clovelly Randwick $3,160,606 $1,750                 
NSW Double Bay Woollahra $3,994,114 $1,735            
NSW Rose Bay Woollahra $3,696,415 $1,700              
NSW Dover Heights Waverley $4,133,440 $1,675         
NSW Mosman Mosman $4,041,599 $1,650                  
NSW Balgowlah Heights Manly $2,934,921 $1,573       
NSW Potts Point Sydney $5,866,920 $1,525               
 
Units
NSW The Rocks Sydney $2,025,499 $1,050
NSW Tamarama Waverley $1,564,541 $920
NSW Huntleys Cove Hunters Hill $1,370,826 $900
NSW Millers Point Sydney $1,810,199 $875
NSW Darling Point Woollahra $2,292,686 $848
NSW Haymarket Sydney $994,160 $828
NSW Milsons Point North Sydney $1,620,837 $800
NSW Cremorne Point North Sydney $1,439,944 $795
NSW Double Bay Woollahra $1,360,699 $770
NSW Pyrmont Sydney $1,153,278 $770
 
 
 
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Pricey Bellevue Hill ranks as Australia's dearest rental suburb

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<img src="https://counter.theconversation.com/content/83959/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The Airbnb and empty house phenomena and their presumed links to housing and rental prices have attracted considerable media and political attention.
The ABC points to the “dark side” of Airbnb and its effect on long-term rental prices. Empty houses are being linked to higher housing prices and to foreign investment, most often Chinese investment. The Australian headlines that “China buyers raise ghost town fears”.
The Commonwealth and state governments are seeking to regulate the phenomena. It is questionable whether they should and even whether they understand the data and trends.
<h2>The Airbnb question</h2>
Airbnb involves renting an entire home, a room or a shared room. Short-term rental of an entire house or flat that is available all year is equivalent to reducing long-term rental options.
Airbnb poses a possible threat to rental affordability. The income Airbnb generates in areas of cities popular with tourists causes owners of rental properties to withdraw these from the long-term rental market. It also causes investors to acquire property and enter the Airbnb market, and to increase the cost of long-term rental. 
This may create a ripple effect as relatively high-income households are displaced to adjacent neighbourhoods. The scale of Airbnb impacts on rents, displacement of long-term renters and neighbourhood fragmentation has led cities such as Barcelona, New York and Amsterdam to attempt to ban, or strictly regulate, the extent and location of Airbnb. 
Should similar effects be anticipated in parts of Australian cities that are popular with tourists? Data on Airbnb accommodation in Melbourne and Sydney as of December 2016 are:
<ul>
<li>
Melbourne: 12,174 listings, of which 57% are for entire homes
</li>
<li>
Sydney: 24,078 listings, of which 61% are for entire homes.
</li>
</ul>
Reportedly, "The number of Airbnb properties potentially removed from Sydney’s permanent rental market with an average vacancy rate of around 3% amounts to approximately half of the available rental properties."
The scale of the Airbnb phenomenon is increasing. So, too, is the company’s influence, with its membership of the Committee for Sydney and its status as a source of Qantas Frequent Flyer points. 
Government may well have to consider regulating Airbnb. The question is whether Airbnb is best managed by state government, or metropolitan or local government. 
For example, the Victorian government has designated the Melbourne suburbs of Fitzroy and St Kilda for Airbnb development. Why should this be a state decision? Might the residents of already costly rental Fitzroy and St Kilda have their own views?
<h2>The empty housing question</h2>
On the night of the 2016 Census, 1,089,165 dwellings were empty – 11.2% of all Australian dwellings. It’s widely assumed that these empty dwellings, by not contributing to housing supply, increase house prices.
Supposing that this is the case and presuming that foreign investors contribute significantly to the empty house phenomenon, the Australian government’s 2017-18 budget introduced a levy on foreign investors who leave properties vacant for more than six months.
Not solely blaming foreign investors and also looking at domestic speculative investment, the State of Victoria has introduced a vacant residential property tax. This “is intended to encourage these owners to make their property available for purchase or rent … [but] will only apply to vacant properties located in the inner and middle suburbs of Melbourne”.
However, empty house data should be seen in context: over the previous 35 years, between 9.2% and 11.2% of houses were empty. Vacancy rates have changed little over this time. Almost two-thirds of empty dwellings on census night are holiday houses or dwellings where owners were absent. Among the capital cities, only in metropolitan Perth did the empty dwelling rate exceed 10%.
SGS Economics and Planning estimates about 110,000 of the vacant dwellings – 10.6% of the total – were available for short and long-term rental. This small proportion available for rent, amounting to 1.2% of Australia’s houses, would probably not attract media and political attention.
Nonetheless, foreign investment in housing is a global phenomenon that focuses on specific cities, such as Vancouver, New York, Miami, London, Paris, Auckland and Sydney. Blaming foreign investors for its 107,000 empty dwellings, the Parisian government “tripled the current 20% extrathat non-resident owners have to pay in council tax, or taxe d’habitation, to 60%”.
Vancouver imposed a 15% tax on foreign investment in housing. Following this, “the number of foreign buyers dropped by 80%. That helped dampen house-price inflation there but pushed up demand in nearby Victoria.”
<h2>What level of government should manage these issues?</h2>
It is unclear whether Sydney and Melbourne will come to have a level of empty dwellings that warrants federal and state attention. Should this be required, the question is which tier of government can best manage the phenomenon.
It is difficult to argue that taxes should be applied at federal and state levels because foreign investment, property speculation and Airbnb affect some cities and not others. They affect some suburbs and not others. 
For example, due in part to “a soft residential property market” and “lower land values”, tax revenue for Western Australia is in its third year of decline. The state government and Perth homeowners might welcome foreign investment and Airbnb to sustain tax revenue and house prices.
Would a metropolitan government, learning from metropolitan interventions elsewhere, not be better placed to manage the effects of Airbnb and empty houses?
Cities around the world are seeking to manage these phenomena and sharing experiences of how best to do this. In Australia, though, the Commonwealth and state governments presume to know best.
<a href="https://theconversation.com/profiles/richard-tomlinson-10016" target="_blank">Richard Tomlinson</a> is Professor of Urban Planning, University of Melbourne and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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jchancellor-FAypfDUnLy

Airbnb and empty houses: who’s responsible for managing the impacts on our cities?

<html><body>
Falls in capital city property rents is accelerating according to the latest CoreLogic Property Market Indicator Summary, with gross rental yields highest in Hobart, Darwin and Brisbane.
Asking rents for the combined capital cities are now down 0.6 percent over the 12 months.
<a href="/images/2016/08/09/Screen%20Shot%202016-08-09%20at%202.36.33%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/09/Screen%20Shot%202016-08-09%20at%202.36.33%20PM.png" alt="">
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Property 101: Asking rents down 0.6 percent over 12 months: CoreLogic

<html><body>
<div class="middle-content-section">
<div class="section">
Median house rentals in metropolitan Melbourne increased $10 a week to $410 with regional housing rent decreasing 4.9 percent to $290, to December 2015, according to the REIV.
The REIV's rental market snapshot to December 2015 found the level of vacant properties in metropolitan  Melbourne at 3.1 percent, staying at 2.3 percent for regional Victoria.
</div>
<div class="section"> </div>
<div class="section">
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td> </td>
<td rowspan="1" colspan="2" data-sheets-value='[null,2,"Vacancy Rate"]'>Vacancy Rate</td>
<td rowspan="1" colspan="2" data-sheets-value='[null,2,"Median Rent"]'>Median Rent (Houses)</td>
</tr>
<tr>
<td> </td>
<td data-sheets-value='[null,2,"July 2015",null,null,null,1]'>Dec 2015</td>
<td data-sheets-value='[null,2,"June 2015",null,null,null,1]'>Nov 2015</td>
<td data-sheets-value='[null,2,"July 2015",null,null,null,1]'>Dec 2015</td>
<td data-sheets-value='[null,2,"June 2015",null,null,null,1]'>Nov 2015</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"METRO"]'>METRO</td>
<td data-sheets-value="[null,3,null,2.9]">3.1</td>
<td data-sheets-numberformat='[null,2,"0.0",1]' data-sheets-value="[null,3,null,3]">3.0</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,400]">$410</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,400]">$400</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"REGIONAL"]'>REGIONAL</td>
<td data-sheets-value="[null,3,null,2.4]">2.3</td>
<td data-sheets-value="[null,3,null,2.3]">2.3</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,290]">$290</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,290]">$305</td>
</tr>
</tbody></table>
<a href="/images/2016/02/19/Vacancy-Rates-Dec-2015.jpg" target="_blank"> Click to enlarge</a>
<img src="/images/2016/02/19/Vacancy-Rates-Dec-2015.jpg" alt="">
</div>
 
</div>
<div class="web-part"> </div>
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po-LsXgBTHBmX

Melbourne unit rental price up, house rentals down: REIV

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Residential vacancies nationwide rose during December with a final vacancy rate of 2.7% recorded, according to SQM Research, who put the increase down to seasonal trends.
SQM research recorded 81,401 rental vacancies in December, according to managing director Louis Christopher, who said the demand for rentals is still on the rise.
"The national rise is attributed to a combination of factors, including issues with supply and demand, the ongoing impact of the commodities downturn, and seasonal holiday trends," he said.
"December for example, normally does record a sharp rise in vacancies.
<a href="/images/2016/01/18/Screen%20Shot%202016-01-18%20at%2012.05.36%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/18/Screen%20Shot%202016-01-18%20at%2012.05.36%20PM.png" alt="">
"Notably, Darwin has recorded a fall in asking rents of 12.3% for houses and 11.2% for units over the past 12 months, according to SQM Research. Yearly falls have also been recorded in Perth, with asking rents down 9.6% for houses and 9.7% for units."
Mr Christopher said Hobart has recorded the fastest rental rises for the capital cities with asking rents rising 6.9% for houses, while units underperformed, falling by 1.6%. Hobart also has the most affordable rental accommodation with rents for houses at just $340 a week, while units on average rent for $270 a week.
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December capital city house asking rents rise 6.9% in Hobart: SQM Research

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Sydney's northern beaches suburb of Collaroy had the greatest increase in house rents across the year, up 31.6% according to CoreLogic RP Data's September Monthly Rental Report.
The report found over the year Sydney rents increased 1.9%, with Collaroy a median rental price now of $1,250. Rose Bay has a median rental price of $1,750 - a 25% year-on-year change.
 
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The median price for a home in <a href="/news">Collaroy is $1,800,000</a>, according to CoreLogic RP Data.
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