A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Rental Property

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GUEST OBSERVER
The property market has finally received some clarity in relation to the Government’s plan to reduce depreciation deductions for residential properties. It’s good news too, if you ask me. 
On Friday 14th July, the Treasury Office released a <a href="https://treasury.gov.au/ConsultationsandReviews/Consultations/2017/Housing-Tax-Integrity" target="_blank">draft bill</a> regarding how depreciation deductions on second-hand property can be claimed moving forward. They also invited interested parties to make submissions.
It's complicated to say the least, so I’ve tried to simplify this Bill and the key points. Here are my 9 Key Takeaways from the draft Legislation;
1. If you acquire a second-hand residential property after May 10, 2017, which contains “previously used” depreciating assets, you will no longer be able to claim depreciation on those assets.
2. Acquirers of brand new property will carry on claiming depreciation exactly the way they have done so to date. This is great news for the property industry and the way it should be.
We suspected this would be the case and I believe the property industry can collectively breathe a sigh of relief. 
3. The proposed changes only relate to residential property. Commercial, industrial, retail and other non-residential properties are not affected in the slightest. 
4.  The building allowance or claims on the structure of the building has not changed at all. You will still need a Depreciation Schedule to calculate these deductions. This component typically represents approximately between 80 to 85 percent of the construction cost of a property.
5. The proposed changes do not apply if you buy the property in a corporate tax entity, super fund (note Self-Managed Super Funds do not apply here) or a large unit trust.
This is interesting and I suspect a lot more people will start buying properties in company tax structures.
6. If you engage a builder to build a house and it remains an investment property, you will still be able to claim depreciation on both the structure and the Plant and Equipment items. 
7. If you renovate a property that is being used as an investment, you will still be able to claim depreciation on it when you have finished the renovations.
8. If you renovate a house, whilst living it in, then sell the property to an investor, the asset will be deemed to have been previously used and the new owner cannot claim depreciation.
9. Perhaps the most interesting point: Whilst investors purchasing second-hand property can now no longer claim depreciation on the existing plant and equipment, they will have the benefit of paying less capital gains tax when they sell the property. 
How? Well, in summary, what you would’ve been able to claim in depreciation under the previous legislation, now simply gets taken off the sale price in the event you sell the property in the future.
Here is an example of how this will work: 
Peter buys a property in September 2017 for $600k, included within the property was $25k worth of previously used depreciating assets.
As they were previously used, Peter can’t claim depreciation on those items.
Peter sells the property in 2022 for $800k, which included $15k worth of those depreciation assets.
Peter can now claim a capital loss of $10k ($25k-$15k) for the portion that Peter has not claimed in depreciation.
SUMMARY OF THE PROPOSED CHANGES
In my view the Draft Bill could've been a lot worse for both the property industry and the Quantity Surveying professions.
It will certainly address the integrity measure concern of stopping “refreshed” valuations of plant and equipment by property investors.
It may, however, create a two-tier property market in relation to new and second hand property.
You can see the ads now “Buy Brand New - We’ve Got The Depreciation Allowances”. 
It will still be just as critical for all property investors to get a breakdown of the building allowance &amp; plant and equipment values so you can:
A. Claim the building allowance (where applicable) and
B. Reduce the CGT payable when selling the property by deducting the unclaimed Plant and Equipment allowances.
The Quantity Surveying industry, just like the property development industry just breathed a huge sigh of relief.
I believe this integrity measure could've been better addressed and will be making a submission accordingly. 
But it wasn’t a bad ‘first run’ by the Government!
Tyron Hyde is a director of Washington Brown and can be contacted <a href="https://www.washingtonbrown.com.au/staff/tyron-hyde/" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

What depreciation property investors can now claim: Nine key insights from the draft legislation: Tyron Hyde

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SPONSORED POST
Australia is fast becoming a nation of renters which means home cleaning is one of the top three issues keeping many people awake at night.
The fear of not getting their bond back – or worse, being blacklisted as poor tenants – means many are turning to professional cleaners for peace of mind. The demand for end of lease cleans has never been stronger according to James’ Home Services, one of Australia’s leading residential cleaning companies.
CEO Mike Dowling said more than 30 percent of Australian households now live in rented digs and they often have thousands of dollars tied up in a security deposit.
"They need that money to move to a new home but, more importantly, they are frightened of getting a poor reputation and not being able to rent in the future," he said.
“Generally, the standards both tenants and landlords expect are getting higher and people are avoiding disputes by calling in professional cleaners who have the skill and equipment to do the job required immediately.
“It can be an even bigger issue when you have pets and the bonds involved are often bigger too. Some tenants want to reassure their landlords or property managers by showing them that professionals have done the work. For others, it’s just a huge job they can offload while they are busy dealing with the rest of the move.
“Most professional cleaning services will back their work. Our Gold Medal Service Guarantee is one of the best because we ensure you can speak to a real person in Australia who can identify your needs and the service you require, organise a free quote at a time that best suits you and we turn up when we say we will every time. We also offer a 7 Day workmanship guaranteed so if you’re not satisfied, we will come and fix for free at no extra cost.”
Dowling said end of lease cleaning was much more extensive that a regular clean because it tackles all those heavy duty jobs like carpet shampooing and wall cleaning, or cleaning the oven and inside the light fittings – things you simply don’t do every week. 
“I’ve been in the cleaning industry for almost a quarter of a century and know that I have some of the most skilled people in the industry,” said Mr Dowling, who purchased James’ Home Services in October 2015. 
"They have the skill and equipment to do the work to a better standard and in a fraction of the time. We make it our business to work out exactly what the customer wants and tailor our services to meet the customer’s needs.”
Visit <a href="https://www.jameshomeservices.com.au" target="_blank">www.jameshomeservices.com.au</a> to learn more about the services offered and to book either a one-off or regular visit from one of the James’ Home Services franchisees 
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A good clean means a good night’s sleep 

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<div>Within the Consumer Price Index figures, the ABS produces some very useful quality-adjusted figures on rental price inflation. </div>
<div> </div>
<div>The data series shows how rents can rise very fast when investors are spooked out of the market, such as between 1985 and 1987 (changes to tax legislation) and 2008 (global financial crisis).</div>
<div> </div>
<div>When investor activity is high, on the other hand, the growth in rents is likely to be weaker, and this is also the case when low interest rates make buying a home comparatively more attractive than renting. </div>
<div> </div>
<div>In this context, nationally annual rental price growth is at its lowest level in more than 22 years, at 0.6 per cent.</div>
<a href="https://4.bp.blogspot.com/-TapbS0WJLJA/WIiHzukMDfI/AAAAAAAAhak/ndXk6_mJwuYkNIMYlgamcTe_ZXRg6mH3QCLcB/s1600/A5.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-TapbS0WJLJA/WIiHzukMDfI/AAAAAAAAhak/ndXk6_mJwuYkNIMYlgamcTe_ZXRg6mH3QCLcB/s640/A5.jpg" width="640" height="340"></a> In Perth, annual rental growth has turned negative to the tune of -7.2 per cent. 
<div><a href="https://2.bp.blogspot.com/-uEibKl7v3wA/WIiHzuEUPiI/AAAAAAAAhag/SXTXMTsRc6glPmclKzhWpDZgTpWppJaLgCLcB/s1600/A3.jpg" target="_blank"><img src="https://2.bp.blogspot.com/-uEibKl7v3wA/WIiHzuEUPiI/AAAAAAAAhag/SXTXMTsRc6glPmclKzhWpDZgTpWppJaLgCLcB/s640/A3.jpg" width="640" height="352"></a></div>
 
<div>Darwin is by some margin the weakest rental market, with rents declining by -8.2 per cent in 2016.</div>
<div> </div>
<div>On the other side of the ledger, Hobart is the tightest capital city rental market, with quality-adjusted rents increasing by 3.5 per cent in 2016. </div>
 
<div><a href="https://1.bp.blogspot.com/-UxoHSu6V94w/WIiHzDbkYtI/AAAAAAAAhac/dxkvE9U8dU8nCp-g_SVnqVl0DqN1_KvIgCLcB/s1600/A4.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-UxoHSu6V94w/WIiHzDbkYtI/AAAAAAAAhac/dxkvE9U8dU8nCp-g_SVnqVl0DqN1_KvIgCLcB/s640/A4.jpg" width="640" height="358"></a></div>
 
<div>A look at the long-run figures shows that despite the supply response real rents in both Sydney and Melbourne continued to rise to all-time highs. </div>
 
<div><a href="https://4.bp.blogspot.com/-4bBihfkI2e8/WIiH0l1XAdI/AAAAAAAAhao/x9GcxFT-oyogKdHKJnWFu4ENGUXxTHbPQCLcB/s1600/A6.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-4bBihfkI2e8/WIiH0l1XAdI/AAAAAAAAhao/x9GcxFT-oyogKdHKJnWFu4ENGUXxTHbPQCLcB/s640/A6.jpg" width="640" height="340"></a></div>
 In real terms, at the city level Brisbane rents are certain to move lower in 2017 due to the inner city apartments overbuild. 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
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pwargent-M4siyDbqQY

Where capital city rents are falling further in 2017: Pete Wargent

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Residential vacancy rates jumped in Middle Sydney as more stock has come onto the market, according to data released by the Real Estate Institute of New South Wales.
REINSW President John Cunningham said the September 2016 REINSW vacancy rate survey had Middle Sydney see a rise of 0.5 per cent to 2.1 per cent, leading a 0.1 per cent increase in the overall Sydney vacancy rate to 1.9 per cent.
“The Middle Sydney vacancy rate has been affected by more stock coming onto the market,” Mr Cunningham said.
<a href="/images/2016/10/17/Vacancy%20rate%201.jpg" target="_blank">Click to enlarge</a>
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“Elsewhere across Sydney, the Inner Sydney vacancy rate fell 0.1 per cent to 1.8 per cent and Outer Sydney rose 0.1 per cent to 1.8 per cent,” Mr Cunningham said.
In the Hunter region, vacancy rates dropped 0.5 per cent to 2.2, led by a tightening of the Newcastle market at 1.9 per cent down 1.1 per cent.
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In the Illawarra region, vacancy rates are back at levels seen six months ago at 1.3 per cent down 0.3 per cent. Wollongong was up 0.2 per cent at 1.3 per cent.
Across regional areas, Albury was down 0.2 per cent at 2.9 per cent, Northern Rivers fell 0.3 per cent at 1.0 per cent and New England remained steady at 3.9 per cent.
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Rental vacancy accommodation in middle Sydney increases: REINSW

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<img src="https://counter.theconversation.edu.au/content/63880/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Despite a relatively healthy supply-side picture for the general housing market, the expected trickle down of housing opportunities to low-income households in Australia has failed to materialise.
The UK Department for Communities and Local Government boasted this year of a seven-year high in construction starting on new houses; in the 12 months to December 2015, there were a little over 143,500 housing starts. With a population of 54.3 million, the English housing sector is adding one new dwelling for every 380 persons. 
Over the same period there were 231,411 housing approvals in Australia. With a population of 23.5 million in 2014, the Australian housing sector is adding one new dwelling for every 102 persons.
The supply of new housing has matched Australian population growth in recent times. The figure below profiles growth of the housing stock between 2006 and 2014, and compares it to population growth over the same period Australia-wide, as well as across the state capitals, Canberra and Darwin. 
Growth in the national housing stock has kept pace with population growth for almost a decade.
However, the picture differs across state and territory capitals. In Perth and Sydney, increases in the housing stock are insufficient to match the increase in these state capitals’ populations. But there are different patterns underlying this common outcome.
In Perth, population growth was exceptionally strong. It was faster than any other city: its population soared (by 2014) to more than 28% above 2006 levels. Such rapid growth would stretch the capacity of most housing construction sectors, even in the absence of any supply-side impediments. 
Sydney’s population growth (at 14%) is below the average across all cities (17%). Despite this relatively low increase in its population, housing supply failed to produce a matching increase in the housing stock. 
<h2>A housing system under pressure</h2>
The balance between growth in population and expansion in housing stock through new housing supply is thought to be relevant to an understanding of housing affordability pressures. New housing construction that matches population growth should ease price and rent pressures, where all else is equal. 
Although most new housing is built and sold in the higher price ranges and therefore purchased by higher-income groups, the housing they vacate will fall in price. It therefore becomes accessible to middle-income groups. And, as they shift upmarket, the housing they move out of falls in price and becomes accessible to lower-income households. 
Eventually, this filtering process opens up new opportunities for the homeless.
Housing affordability is generally thought to be worsening, especially for low-income households. Homelessness numbers remain stubbornly high. And official figures for June 2015 reveal there were 154,000 households on state housing authority waiting lists for public housing.
It is likely that the length of these waiting lists underestimates the need for public housing. We have modelled the income rules determining eligibility for public housing, and estimate that there are nearly 900,000 households satisfying these income eligibility criteria. 
More than two-thirds of these households (650,000) contain one or more persons who:
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are aged 65 and over; 
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have a long-term health condition or disability; or
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have children aged under 15.
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These are people who value the security of tenure that has typically been offered by public housing, but who are unlikely to be able to buy their own homes. There are nearly 1 million individuals in these households – a group that is currently ill-served by Australia’s housing system. 
<h2>Housing solutions through private-public partnerships</h2>
The need for new housing solutions for these low-income groups is clearly a pressing requirement. However, raising the capital funding to expand public or social housing to meet their housing needs seems improbable. 
Secure leasing is a private-public partnership option that offers a rent premium to those private landlords willing to offer long-term leases to those satisfying the income tests for public housing. They would also be either of pension age, disabled or caring for children. 
In the unregulated Australian rental housing market, leases are almost always short term. This gives landlords the option to realise investments in the near term. Hence, a long-term lease proposal requires Australian governments to offer landlords a rent premium to compensate them for the money sacrificed when they enter into a long-term arrangement.
Consider a reform scenario in which landlords are given an incentive to offer five-year secure leases to households eligible for public housing who are now living in the private rental sector, with rent increases capped at increases in the consumer price index over the secure lease period.
We estimate that, over five years, the budgetary cost to the government to house these 650,000 households in secure lease arrangements is A$13.4 billion.
The uneven distribution of these households across states and territories means the program’s cost varies across the five most-populous states. Our estimates are $4.7 billion in New South Wales, $3 billion in Victoria, $2.5 billion in Queensland, $1 billion in South Australia, and $1.8 billion in Western Australia – with the remainder borne by Tasmania and the territories. 
This cost is much more affordable than the capital funding required to expand the social housing stock through the construction of new social housing dwellings.
The Australian tax system currently provides indirect support for the supply of private rental housing through tax concessions such as negative gearing and capital gains tax discounts. Is it now time to harness some of the private investment stimulated by these concessions to help improve the supply of affordable and secure housing opportunities for low-income households.
Gavin Wood is professor of housing, RMIT University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/gavin-wood-113723" target="_blank">here</a>.
Rachel Ong is deputy director, Bankwest Curtin Economics Centre, Curtin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/rachel-ong-113482" target="_blank">here</a>.
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Can the private rental sector provide a secure, affordable housing solution?

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As expected SQM Research's figures showed vacancy rates declining in August in every capital city, and rents jumping in the big cities. 
Hobart's vacancy rate fell to just 0.5 percent, while both Sydney (1.7 percent) and Melbourne tightened (1.9 percent) despite talk of an oversupply.
Asking rents for units were up by +4.5 percent in Melbourne and +4.0 percent over the year to August, suggesting that "landlords are in control of the market" according to SQM. 
Vacancy rates also declined in August in Brisbane, Adelaide, Perth, Darwin, and Canberra. 
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<div>Smoothing the data on a 4mMA basis shows that Canberra's market has also tightened substantially, with asking rents soaring by +12 percent. </div>
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<div>The smoothed figures show that Darwin is on the mend, but Perth still has a 5 percent vacancy rate to chew through before rents can rise again. </div>
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 According to Louis Christopher of SQM Research: <div>"Sydney is likely to remain a landlords' market, as the city's growing population creates demand for new stock".</div>
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<div>Only in one sub-region of Sydney has SQM recorded an increase in advertised vacancies. </div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Vacancy rates drop everywhere, big city rents jump

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<img src="https://counter.theconversation.edu.au/content/65146/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A Victorian Supreme Court decision has held that landlords should ensure that residential premises are maintained in good repair, even if the property is dilapidated when the tenant goes into occupation. That this is being hailed as a “landmark” decision underscores the sometimes Dickensian approaches that still influence tenancy law.
With two states, New South Wales and Victoria, reviewing tenancy legislation, the decision is a persuasive case study on the desirability of imposing minimum standards on the condition of rental premises. There is, however, a sting in the tail, with the judge acknowledging that the conclusion could reduce the supply of very low-cost residential housing.
"… there is no law against letting a tumble-down house. – Robbins v. Jones(1863) 15 CB (NS) 221, 240"
What did the court decide?
In the Victorian case, Ms Shields, a disability pensioner, rented a house from Mr Deliopoulos for over five years. She was unable to afford any other property. The premises were in poor condition at the start of the tenancy and deteriorated further over time.
The catalogue of “repair issues” included holes in the floor, walls and ceilings; dampness and resultant rot; and rat infestation. The property was sinking in one corner. The condition of the property was described as “filthy” and “unusable".
Ms Shields sought compensation for a breach of the landlord’s obligation to “ensure that the rented premises are maintained in good repair”.
"… having regard to the age, character and locality of the house, would make it reasonably fit for the occupation of a reasonably minded tenant of the class who would be likely to take it. – Proudfoot v. Hart (1890) 25 QBD 42,55"
Under the common law, the obligation to repair leased premises fell on the tenant rather than the landlord. The tenant had to keep the premises in good repair (defined above). To comply with this obligation, a tenant could be required to repair premises that were dilapidated at the start of the lease.
The 1975 Poverty in Australia inquiry highlighted the inadequacy of the common law rules to modern tenancy arrangements. This led to the introduction of residential tenancy legislation throughout Australia.
"A landlord must ensure that the rented premises are maintained in good repair. – Section 68, Victorian Residential Tenancies Act 1997"
The initial decision in the Victorian Civil and Administrative Tribunal (VCAT) confined the scope of the landlord’s duty to the condition at the start of the tenancy, irrespective of the state of repair. The VCAT decision referenced factors such as the rent payable and the tenant’s decision to stay in the property for five years (despite the fact she could not afford anything else).
On appeal to the Victorian Supreme Court, Justice Day noted that proper construction of section 68 was a matter of some public importance because Ms Shield’s matter was the latest of several cases where landlords’ repair obligations were interpreted narrowly. Holding that the obligation was “strict and absolute”, the court concluded that landlords were required to identify and rectify any defects of which they were aware or ought to have been aware.
The court also held that relating the obligations of landlords to maintain premises in good repair to the level of rent payable was inconsistent with the consumer protection focus of the legislation and with equivalent legislation in other Australian jurisdictions.
What are the implications of this decision?
While few would argue with the outcome, the decision does raise some points to ponder.
1. What measures can be taken to ensure rental properties meet an appropriate standard of repair?
All tenants should expect premises conform to minimum community standards for health, safety and energy efficiency. Yet only Tasmania and South Australia have introduced legislation that provides for minimum standards and that certain amenities – which most people take for granted, such as cooking areas, a bathroom and hot and cold water – are provided in rental properties.
In South Australia, if a tenant believes a property has serious structural damage, he or she can seek an inspection by the Housing Improvement Branch and have the property declared substandard. It is suggested such provisions should be adopted in all states and territories. The reviews of residential tenancy laws in Victoria and NSW provide an opportunity to incorporate minimum standards.
2. Will the decision, or the imposition of minimum standards, reduce supply of low-cost rental housing?
Justice Day recognised the decision could prevent owners of properties in poor repair from renting out their properties at low rent, thus further decreasing stock availability. Although a few landlords may decide to do so, in most cases the landlords' financial realities will prevail and properties will be brought into repair.
The introduction of minimum standards in Tasmania and South Australia has been phased in to give landlords time to budget and improve properties.
3. How can we be sure that tenants receive appropriate legal advice and representation?
Could Ms Shields have succeeded in navigating VCAT, and the Supreme Court, without the assistance of Legal Aid Victoria? A self-represented tenant with few housing options, limited funds and no familiarity with the legal system would find it an onerous task to proceed against a landlord.
Less formal, low-cost processes should be examined. These should include a Housing Ombudsman, as recently suggested by the Victorian Council of Social Service (VCOSS).
Ms Shield’s experience is a timely reminder that the law , in form and in application, must ensure all tenants are provided with the basic necessities in rental properties. And, when landlords do not comply, there needs to be adequate access to justice.
Eileen Webb is associate professor, Curtin Law School, Curtin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/eileen-webb-95332" target="_blank">here</a>.
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Dickensian approach to residential tenants lingers in Australian law

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A new partnership between one of the world’s largest accommodation providers Airbnb and Australia’s number one dedicated rental property website Rent.com.au, is encouraging renters to ‘try before they commit’ and test drive a new neighbourhood, before signing a rental lease.
Schools, cafes, shops, sporting facilities, public transport, entertainment and the arts, will all go under the microscope, as renters ‘check in’ to new suburbs in the search for their next home.
Under the agreement, renters can now book apartments, houses, private and shared rooms and unique accommodation options with a simple click-through from the Rent.com.au website.
“We love the idea of people ‘test driving’ their new community,” said Rent.com.au CEO, Greg Bader.
“We can all look at the photos and descriptions on our website and that gives us a good idea of the property we are moving into, but it doesn’t really paint the full picture of a new community.
Rent.com.au data shows that 50 percent of all renters look to spend around $300 per week on a rental (or a minimum of $15,000 per year).
With a one-night stay via Airbnb available from under $100 a night, renters now can make more informed decisions choosing their next rental home.
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jonathanchancellor-7SQnKwU6yx

Property 101: Try before you rent as Rent.com.au and Airbnb partner up

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The average gross rental yield across the combined capital cities hasn’t been this low since 1996 when CoreLogic began collecting relevant data, according to the June Hedonic Home Value Index.
The average gross yield on a house is 3.2 percent and units 4.1 percent.
CoreLogic research director Tim Lawless said Despite low mortgage rate settings, the low yield profile implies that the majority of recent investors will be experiencing a cash flow loss on their property after expenses are taken into account.
Rental yields are generally low across all of the capital cities, however, it is only in Sydney and Melbourne where yields for both houses and units have dropped to new record lows. Melbourne remains the lowest yielding market for houses, averaging 2.9%, whilst unit yields are now lowest in Sydney and Darwin, averaging 3.9%. 
“Overall, the strong housing market conditions in Sydney and Melbourne are being reported in-line with high auction clearance rates and resilient levels of mortgage related activity and are also supported by a robust level of consumer confidence.”
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Average gross rental yield lowest since 1996: CoreLogic

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Rental property technology company Property Connect Holdings Limited (ASX:PCH) has entered into an agreement with Florida-based SellState Partners Realty for its LiveOffer™ technology, an online system through which potential tenants can make offers on rental property.
The memorandum of understanding (MOU) will see the two parties negotiate a binding contract under which SellState Partners will exclusively complete leasing transactions for several large portfolio owners in the US using Property Connect’s LiveOffer™.
SellState Partners manages leasing transactions for several hedge fund property owners and is targeting about 200,000 rentals through this partnership.
"We manage the leasing transactions for some of the largest hedge funds in the US, and having access to Property Connect's LiveOffer™ platform will transform how the industry manages the leasing process moving forward,” said SellState Partners franchise owner Matthew Krac. 
"It's a huge win for the owner, broker, manager and renter."  
The agreement will remain in place for six months with negotiations to determine the pricing, though Property Connect expects this will follow a similar structure to that outlined for multifamily property managers.
“This move into the single family home market comes ahead of schedule and immediately highlights the scope for LiveOffer™ across a number of sectors,” said Property Connect CEO Tim Manson.
“We look forward to further exploring these new opportunities while also continuing our pursuit of management groups in our focus market of multifamily apartment group.
LiveOffer™ provides the renter with the ability to easily adjust the rent paid, move-in date and lease term and assists leasing agents to secure market-driven terms on each property.
The product can be integrated into existing property management software and allows renters to place an offer on a property and see in real-time where they are placed against other applicants, creating a fair market value for rental properties.
Offers are instantly matched against preferences set by property managers and ranked accordingly.
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