Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Research

Homophobia, bullying and harassment continues in the construction industry despite improving attitudes towards LGBTQ+ employees, according to new research from the Australian Human Rights Institute at UNSW released Tuesday.

The report, which looked into the experiences of LGBTQ+ people working in construction and the effectiveness of current diversity and inclusion strategies, was undertaken in conjunction with InterBuild&rsquo;s People Engagement working group and sponsored by the Lendlease Foundation.

Researchers Dr Natalie Galea and Dr Melissa Jardine found that while LGBTQ+ inclusion has improved, there is a &ldquo;significant variation across the industry&rdquo; and many people still don&rsquo;t feel safe bringing their authentic selves to work.

<img alt="" height="667" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1396952330.jpg" width="1000" />

Participants in the study ranged from tradespeople to senior executives of multinational companies, and gave detailed accounts about coming out at work, the experience of transitioning gender in the workplace, and the effectiveness of existing diversity and inclusion strategies.

Another study published by <a href="https://www.pwc.com.au/publications/pdf/pwc-workplace-inclusion-report-sep17.pdf" target="_blank">PwC&rsquo;s GLEE team</a> showed that homophobia was more present within the construction industry than on average.

75 per cent of respondents from the construction sector, Australia&rsquo;s most male-dominated industry and the third-largest national employer, indicated&nbsp;they had observed homophobia, compared to 56 per cent in other sectors.&nbsp;

[smartcode_project:default project_id=3459 project_image_fid=147569]

Lead author of the UNSW report Dr Galea said that while most participants felt there was a positive trajectory in workplace attitudes, many noted the sector was coming off a very low base.

&ldquo;The research found it was particularly challenging for those in junior positions, apprentices and FIFO workers to navigate the construction sector as an LGBTQ+ worker due to a lack of power and a desire to &lsquo;fit in&rsquo; to avoid anticipated negative responses,&rdquo; Dr Galea said.

One of the participants, who is in their 40s and identifies as queer, said: &ldquo;I&rsquo;m going to wait until I finish my apprenticeship and get a permanent position [before being more open about my identity] even though my role is considered permanent... I feel like I need people to see that I do a good job and I&rsquo;m an okay person.&rdquo;

<img alt="" height="423" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lgbtq_construction_thumb_0.jpeg" width="740" />

Co-author Dr Jardine said the research found that industry leaders often lacked awareness of inclusive LGBT+ practices and in some cases failed to act on homophobic or discriminatory behaviours.

&ldquo;Despite many examples of good leadership, participants expressed frustration that some leaders turned a blind eye and failed to act or challenge homophobic behaviour and attitudes, especially from &lsquo;old school&rsquo; men,&rdquo; Dr Jardine said.

The report, which included recommendations for government and businesses, noted that this&nbsp;risks entrenching current behaviours and may lead to the loss of new talent.

Other recommendations to recalibrate industry behaviours and value the engagement of all workers included sexism, homophobia and transphobia education, publicly available inclusion policies, and a mental health service for LGBTQ+ tradies with qualified counsellors who understand the construction sector.

The full report, titled Building an LGBTQ+ inclusive workplace: A blueprint for Australia&rsquo;s construction industry is available to read <a href="https://www.humanrights.unsw.edu.au/research/lgbtq-workers-australian-construction-sector" target="_blank">here</a>.

Australian Human Rights Institute at UNSW released a new report, 'Building an LGBTQ+ inclusive workplace: A blueprint for Australia’s construction industry', on Tuesday

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New UNSW research reveals barriers to LGBTQ+ inclusion in the construction industry

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The global recession, sparked by record job losses in the wake of the coronavirus pandemic, will hurt demand for office real estate, with occupancy and rental rates to come under pressure, according to the latest findings from S&amp;P Global Ratings.
“Rent collection for office properties has remained high but we expect landlords to share some of the pain as tenants' capacity to pay rent is impaired” the firm said.
According to the June report, office real estate investment trusts (REITs) entered this recession in relatively good shape -Low vacancy rates and steady rent growth, and long-term leases and staggered lease maturity schedules, should help mitigate the impact of the recession.
“We expect COVID-19 to accelerate the adoption of remote working and lead to a gradual reduction in the office footprint” the firm added.
The sustainability of co-working concepts could also add pressure to the office sector, particularly in gateway markets.
“We expect negative ratings bias to grow over the next year, although down grade risks are mitigated by adequate cushion under credit metrics, relatively good balance sheets, and solid liquidity” the firm concluded.
 
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j.ballantyne1990-6AQqhLzZaK

COVID-19 accelerates structural shifts in real estate and REITs: S&P Global Ratings 

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House prices have increased, according to the latest edition of Real Estate Market Facts, published by the REIA.
“During the March quarter 2020, the weighted average median price for houses for the eight capital cities increased to $786,923, with Sydney, Melbourne, Hobart and Darwin all having increases,” said Mr Adrian Kelly, president, REIA.
“The weighted average median price for other dwellings increased to $602,293 over the quarter, with prices increasing in Sydney, Melbourne and Adelaide but decreasing in Brisbane, Perth, Canberra, Hobart and Darwin.”
Mr Kelly said the March 2020 quarterly change in median prices was the largest March quarter increase since 2017 which was the beginning of the housing boom of 2017/18.
“Over the quarter, the median rent for three-bedroom houses increased in all capital cities except for Brisbane and Perth, which remained steady and Darwin, which decreased,” said Mr Kelly.
 “The median rent for two-bedroom other dwellings increased in all capital cities except Darwin, which had a 2.4% decrease. 
“The weighted average vacancy rate for the eight capital cities decreased to 2.5% during the March quarter, which shows a tightening in the market compared to last quarter.
“However, this is prior to markets showing the impact of COVID-19.”
Mr Kelly said with the new lending to household data released by the Australian Bureau of Statistics, lending to households for investment in dwellings decreased 16.3% over the quarter and decreased 13.1% for owner occupiers.
“The decrease is usual for the March quarter and has been occurring for the past 10 years,” said Mr Kelly.
“Our next report will reflect the impacts of the start of the COVID-19 pandemic on both the sales and rental markets.”
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House prices on the bounce back: REIA

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EXPERT OBSERVER
Australia just experienced the second-warmest summer on record, with 2019 being the hottest year.
Summer temperatures soared across the country, causing great economic and human loss.
The good news is we can do something about this in our own backyards. We have found trees and vegetation can lower local land temperatures by up to 5-6℃ on days of extreme heat.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/10/HEAT%201.jpg" alt="">
Our newly published research into a summer heatwave in Adelaide suggests that a simple solution to extreme heat is literally at everyone’s doorstep. It relies on the trees, the grasses and the vegetation in our own backyards.
During a three-day heatwave that hit Adelaide in 2017, AdaptWest took to the skies to measure land surface temperatures from an aircraft.
Our analysis of the data collected on that day suggests urban trees and grasses can lower daytime land temperatures by up to 5-6℃ during extreme heat.
The largest temperature reductions were in the hottest suburbs and those further away from the coast. These significant reductions were mostly achieved thanks to backyard trees. 
So this benefit that urban trees provide has two key aspects:
<ul>
<li>maximum cooling happens when needed the most – during days of unbearable heat.</li>
<li>maximum cooling happens where needed the most – close to us, the people, in the communities where we live.</li>
</ul>
Our analysis also shows the humble home garden more than pulls its weight when it comes to reducing extreme urban heat and its harmful effects.
Although yards and gardens cover only about 20% of urban land, these private spaces provide more than 40% of the tree cover and 30% of grass cover across western Adelaide. This is comparable to what can be found in many other Australian cities and towns.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/10/HEAT%202.jpg" alt="Daytime thermal imaging of land surface temperature in Walkley Heights, Adelaide, taken from an aircraft (inset) on February 9 2017 at the peak of a three-day 40°C heatwave. The area on the right is cooler (blue shades) because of greater vegetation cover. In the hotter area on the left (red shades) a residential development built in 2003 has smaller yards with less tree cover.">
In fact, private tree canopy cover is considerably greater than that of typical urban parks or public green areas. This means these private green spaces are a vital yet often overlooked resource for fighting extreme heat.
Climate models and projections predict extreme heat days and heatwaves will become more frequent and intense.
Penrith reached 48.9℃ on January 4 this year, making Western Sydney the hottest place on Earth that day.
Given that heatwaves are already considered Australia’s deadliest climate-related disaster, the forecast temperatures pose an urgent threat to human livelihoods.
<img src="https://www.urban.com.au/images/2020/3/10/HEAT%203.png" alt="">
Urban planning is increasingly having to take extreme temperatures into account. For instance, the City of Sydney recently announced an ambitious policy to increase urban green cover to 40% by 2050 for climate change resilience.
Currently, this level of green cover is found in only a handful of suburbs in cities like Melbourne, Sydney and Adelaide.
To achieve such ambitious and life-sustaining goals, our results point to the need to retain, protect and enhance urban greenery in our own yards. As our cities become increasingly dense, people’s trees and yards can play an invaluable role in adapting to climate change.
Most council, state and federal policies to date have neglected yards and their trees when thinking about climate change adaptation.
When envisioning how Australian cities should grow, develop and thrive, more attention has to be given to the spaces where our yards and trees can help reduce the catastrophic effects of a warming climate on people and communities, right at our doorstep.
Climate change is causing a social, cultural and political revolution. It calls for bold, decisive and immediate action. This is a lifetime opportunity for smart and proactive planning, policy-making and community action. This work needs to begin now.
Urban forests don’t grow quickly, however. We need to be encouraging low-water-use grass and shrub covers as a fast interim strategy for urban cooling.
This is a stopgap measure until a large army of climate-ready tree soldiers, that we can decide to plant today, take over the job of fighting climate change and extreme heat in our future cities.
Alessandro Ossola is a Research Coordinator of the Which Plant Where project at the Centre for Smart Green Cities at Macquarie University.
Leigh Staas is the Associate Director for Engagement &amp; Research Partnerships at Macquarie University’s Centre for Smart Green Cities 
Michelle Leishman leads a research lab in the Department of Biological Sciences at Macquarie University, and is Director of the university’s Smart Green Cities.
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A solution to cut extreme heat by up to 6 degrees is in our own backyards

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Up to 45 per cent of household incomes have already been, or soon will be, reduced as a result of Government-mandated restrictions, according to the latest research from comparethemarket.com.au.
Furthermore, the study found that four in five impacted households are freeing up cash by deferring loan or credit card repayments, or accessing cash by withdrawing from their super, term deposits or life savings.
The financial comparison service commissioned an independent, nationally representative survey of 1002 Australian mortgagors.
Respondents were asked if they were losing income due to social restrictions, and what changes they will make to their finances as a result, including their mortgage repayments.
The survey found that 11 per cent of respondents or their partners had lost their jobs, while a further 5 per cent think they are yet to lose their jobs.
In addition, 18 per cent of respondents or their partners had received a pay cut, while a further 11 per cent believe a pay cut is coming. 
Comparethemarket.com.au also asked respondents if they were concerned about meeting mortgage repayments as a result of their reduced income.
Among households who have, or will have, their incomes cut, 71 per cent said they are worried about repayments for the remainder of 2020.
Many lenders are allowing customers to defer mortgage repayments for up to six months in the current climate; however, payments on interest are not exempt.
The survey also asked if respondents have, or will be, freeing up or accessing cash by deferring mortgage or personal loan repayments, withdrawing from their superannuation, breaking a term deposit, drawing on their savings or using a credit card less.
Among the 45 per cent of respondents whose incomes are being impacted, more than four in five (85 per cent) said they have, or would, take at least one of these actions.
Just one in four (25 per cent) said they have or will defer their repayments, despite lacking confidence about meeting their repayments.
The Australian Banking Association has confirmed that deferrals on mortgages and other credit products won’t affect credit scores, so long as individuals were on top of their repayments before the pandemic.
Mortgagors could also consider refinancing their home loan at this time to save money and take advantage of interest rates being so low.
Many lenders are competing for new customers, so consumers could get a much more competitive rate, in addition to potentially accessing greater flexibility and benefits from a different lender.
Among respondents whose household incomes have been reduced, 64 per cent have, or will be, ceasing or reducing their credit card usage, while 77 per cent would also draw on their savings.
Among the other ways Aussies will be freeing up cash, 10 per cent said they have accessed, or will access, their superannuation.
The Government announced a new measure to allow for early access to superannuation to help individuals affected by COVID-19.
Eligible recipients – those who are unemployed, receiving Government benefits, were made redundant or have had their hours reduced by 20 per cent or more – can apply to withdraw up to $10,000 this financial year and a further $10,000 in FY20-21.
 “Hundreds of thousands of people are experiencing financial hardship at this time, with around six million workers expected to receive JobKeeper payments, while many others are uncertain about their financial security. The Government and financial institutions have introduced a range of relief measures to help Aussies under financial pressure, stay afloat during these difficult times,” said Comparethemarket.com.au spokesperson Abigail Koch.
“At comparethemarket.com.au, we have created an informative COVID-19 FAQ Hub to help people better understand how the pandemic could affect their home loans, credit cards, insurances and a range of other household costs.”
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Up to 45 per cent of household incomes to be reduced by pandemic: Comparethemarket.com.au

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With the number of homeless older Australians aged over 65 jumping by 30% between 2011 and 2016, new AHURI research examines the life ‘shocks’ and other factors behind these rising numbers. 
The research, entitled 'An effective homelessness services system for older Australians’, undertaken for AHURI by researchers from University of South Australia and Swinburne University of Technology, examines the issues that affect older Australians who are experiencing homelessness.
It found that one in every seven Australians experiencing homelessness is aged 55 years or over.
"Poverty is a root cause of homelessness. Having a lower income than needed to sustain a decent, healthy and secure life creates a marginal position in the housing market that can result in the loss of safe, affordable accommodation, which can then lead to homelessness," said Professor Andrew Beer of the University of South Australia, one of authors of the report.
"With an ageing population and a decline in home ownership, we can expect further growth in rates of homelessness amongst older Australians."
The report identified three broad groups of older Australians who become homeless: those with conventional housing histories who experience a financial or other ‘shock’ late in life, such as eviction from rental housing, relationship breakdown, the death of a spouse, or a decline in their health; those who had experienced long-term social exclusion and had previously experienced homelessness; and people with transient work and housing histories.
The research identifies that the current system of supporting older people who experience homelessness is fragmented, too poorly resourced and unable to provide long-term solutions.
According to the report, out of 1,518 homelessness services nationally only three are specialist services for older people. 
The research also reveals that services set up to provide welfare support for people are difficult to navigate, particularly the online welfare system which acts as an impediment to older homeless people gaining access to the support they need. 
"These life shocks lead many older Australians into homelessness, and into contact with the income support system for the first time," said Professor Beer.
"For some, learning to deal with Centrelink and its policies and processes is an additional challenge that exacerbates the grief and shame of finding themselves without a secure home."
The report identifies the provision of affordable, secure and appropriate housing must be central to any solution to homelessness amongst older Australians.
Other solutions include funding to enable aged-care providers to build specialist facilities for older homeless clients, and reviewing, increasing and indexing the Homelessness Supplement for aged-care providers.
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Homelessness a growing concern among older Australians

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Roughly 70% of Australians do not trust the big banks, with half of that number losing confidence after their failure to pass on recent rate cuts, according to new research from comparison site Mozo. 
One in four big bank customers have left or intend to move to a non-four lender, equating to roughly 4.9 million Australians. 
“Australians are making it crystal clear that they are not impressed with the big banks, with 62% saying the big four are putting profits before customers,” said Kirsty Lamont, Mozo Director. 
“The days of bank profiteering are well and truly coming to an end with online and smaller banks offering ultra-competitive rates and minimal fees.
“Mozo’s latest research indicates that there could be a major shift in where Australians choose to do their banking.
“Online home loan lenders currently hold a paltry 6% of the population but the tide could be turning, with half of Australians saying they would consider making the move.” 
The biggest roadblock for online banks appears to be a lack of knowledge, with 38% of Australians saying they didn’t know enough to make the switch, while nearly one in four felt that an online lender offered no special incentives compared to a bank with a branch. 
Over 30% of Australians felt they needed to sit down with a mortgage expert to discuss their home loan.
“It’s understandable that Australians are exhibiting a level of trepidation regarding applying for a home loan online, given it may well be the largest sum of money they borrow in their life,” said Lamont.
“That said, an online lender can easily save you tens of thousands of dollars over the course of your loan as well as offering the same level of security as any major bank.
“Our research found that nearly 20% of big four customers felt their money was ‘secure’ with the big four.”
The big banks sluggish response to the flurry of rate cuts affected the trust of those aged 25-34 years old the most with one in four losing trust after the rate cuts.
They were also the age group most likely to move with 46% saying they intended to do so. One in five Australians surveyed admitted they didn’t know enough about the rate cuts to make an informed decision about their banks. 
When Australians were quizzed about the benefits of getting a home loan with an online lender instead of a traditional bank, lower interest rates were perceived to be the greatest benefit followed closely by lower fees, however, one in four Australians believe there was no advantage to opting for an online provider. 
“Only 19% of Australians believe that the big banks are doing what is necessary to stay afloat in the wake of the rate cuts, leaving a massive 80% unimpressed with big bank behaviour. The writing is on the wall for many borrowers and now is the time to find the most competitive rate on the market and reap the rewards,” says Lamont.
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One in four big bank customers have left or intend to leave after failure to pass on rate cuts

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New research by ING reveals pot plants are the second Australians’ most valuable treasured household possessions ranking second with an average value of $13,198 in homes where they’re cherished.
Artwork topped the list with an average value of $13,787. 
The research also found VHS tapes and DVDs are the most sought after collectable items for thieves with 753,000 Aussies having had these items stolen from their home.
A pricey loss given, on average, Aussies value their treasured VHS tapes and DVD collections at $4,363.  
Most valuable treasured household possessions 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top">
Item
</td>
<td valign="top">
Average value per household 
</td>
</tr>
<tr>
<td valign="top">
Artwork 
</td>
<td valign="top">
$13,787
</td>
</tr>
<tr>
<td valign="top">
Pot plants 
</td>
<td valign="top">
$13,189
</td>
</tr>
<tr>
<td valign="top">
Watches/ jewellery
</td>
<td valign="top">
$8,787
</td>
</tr>
<tr>
<td valign="top">
Designer goods and clothing 
</td>
<td valign="top">
$7,793
</td>
</tr>
<tr>
<td valign="top">
Special collectables/ antiques 
</td>
<td valign="top">
$7,914
</td>
</tr>
</tbody></table>
Most sought after collectable items for thieves 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top">
Item
</td>
<td valign="top">
Number of Aussies that have had item stolen from their home 
</td>
</tr>
<tr>
<td valign="top">
VHS or DVD collections 
</td>
<td valign="top">
753,000
</td>
</tr>
<tr>
<td valign="top">
Stamp collections 
</td>
<td valign="top">
527,000
</td>
</tr>
<tr>
<td valign="top">
Musical instruments 
</td>
<td valign="top">
659,000
</td>
</tr>
<tr>
<td valign="top">
Family portraiture/ vinyl collection/ vintage clothing/ early edition books and comics
</td>
<td valign="top">
517,000 (have had at least one of these items stolen from their home) 
</td>
</tr>
</tbody></table>
ING’s head of Insurance, Cathy Duncan says people need to consider the value of their home and contents.
“When you’re trying to estimate the value of your home and contents most of us probably think about the costs of rebuilding and the value of our big ticket items like furniture, electronics and jewellery,” said Duncan.
“What this research tells us is that it’s actually just as important to remember to consider the collective value of smaller items too. For example, the accumulative costs of all the pot plants in and around your house and your entire DVD collection. These things can really add up.” 
More than a quarter (26%) of Australians have had their home broken into at least once, one in three (32%) say they’ve had items stolen, and overall, 11% say at least one rare or collectable item was stolen from their home. 
“It’s so easy to think that just because something hasn’t happened to you it won’t,” said Duncan.
“That’s probably why almost a quarter (24%) of Australians (according to the research) do not currently have any form of home and or contents insurance. 
“But the reality, according to this research, is that there’s a one in four chance your home could be broken into.”
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Pot plants rank among Australians' most treasured household possessions

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Housing affordability, or rather the lack of it, is likely to persist in some capital cities because of a demand-supply imbalance and could have a big economic impact for Australia, according to the Committee for Economic Development of Australia’s latest report.
The issue of land supply needs greater focus, says the non-profit organisation's Housing Australia report 
“The great Australian dream of owning your own home has been around for more than half a century but with high house prices in some parts of Australia, there has been much debate about whether it will continue," CEDA Research and Policy Committee chairman, Professor Rodney Maddock said.
“The aim of this report is to provide a holistic review of housing in Australia and look at some of the drivers,” he added.
CEDA’s research shows that barring any major economic jolts, demand pressures are likely to continue over the next 40 years and supply constraints will continue. This is particularly the case in capital cities with a growing population and where an increasing proportion of Australia’s population are expected to reside. 
“Often the debate around housing affordability is centred on a few topics such as foreign investment, negative gearing and interest rates," said Professor Maddock.
“What the CEDA report highlights is that while these might be some of the factors, the issue is far more complex and without changes now, could have longer run consequences."
The research also considers the impact of housing affordability on the poorest citizens and includes a recommendation by Dr Judith Yates that every year Australia needs 20,000 new homes that those on low income can afford.
“Prolonged housing affordability issues will result in more people entering retirement without owning their home and low socio-economic households pushed to outer or regional areas where transport infrastructure is poor and job prospects are lower,” said Professor Maddock.
“In the long term this could have budget implications for governments as more people become reliant on government assistance.”
The report also suggested that the current structure of land supply may inadvertently make it in developers interests to drip feed dwellings into the market. 
“CEDA’s report looks at the UK as an example where developers bid high to obtain land for development and it is then in the interests of developers to build slowly to take advantage of rising market prices,” he said.
“This is an area that should be further examined and CEDA’s report highlights that a key difficulty in drawing policy recommendations for Australia is a lack of consistent and rigorous data available on supply of land for development in Australia and its correlation to housing prices.”
CEDA’s recommendations include:
<ul>
<li>Relaxing planning restrictions, particularly those imposed by local councils, making them more consistent and allowing for increased density.</li>
<li>Developing consistent planning and funding models for transport infrastructure to better connect new housing developments to the various employment hubs.</li>
<li>Improving protections for long-term renters.</li>
<li>Further relaxing rules around the means testing of income received from downsizing in situations where it results in greater housing density.</li>
<li>Moving towards annual land tax in place of transaction taxes on housing such as stamp duty.</li>
<li>Taxing a larger component of capital gains.  </li>
</ul>
“CEDA’s report in June on the service sector highlighted the majority of workers in Australia are engaged in service industries and this is growing. However, the shift to a service economy has contributed to a larger population living in our cities and coupled with overall population growth through migration, has impacted housing demand, especially in Sydney and Melbourne,” he said.
With most Australians choosing to live in our major cities, it is likely the trend of more people living in apartments and more long-term renters will become permanent and this means increased protection for renters is needed.
“In addition, we also need to ensure better transport and infrastructure to accommodate increased inner city density and to connect outer suburban developments to employment hubs.”
“Easing some of the tax incentives to invest in or retain residential property may also assist.”
He suggested that policies need to be in sync across the different tiers of government to address the issues.
“Despite the outlook of continued growth there are options for government to ease pressure and ensure long term negative consequences are reduced.”
For more information, <a href="https://www.ceda.com.au/" target="_blank">click here</a>.
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Is it time to let go of the great Australian dream? CEDA

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Consumer is king when it comes to Australian retail, according to new research by Colliers International that says disruption is driving down prices and bricks and mortar retailers are focusing on customer experience.
The highly anticipated entrance of Amazon along with the entry of other offshore retailers such as TK Maxx and JD Sport mean there is more choice for Australians, says Colliers’ latest Retail First Half report.
“The Australian retail sector is undergoing immense change and disruption, forcing retailers and landlords to refine their strategies and align better to consumer preferences,” said Daniel Lees, research director at Colliers International. 
New platforms such as Amazon Marketplace will provide more depth to the current online offerings, and also deliver end to end online sales infrastructure that was previously out of reach for many small to medium-sized domestic retailers, said Lees.
<a href="https://www.propertyobserver.com.au/images/2017/05/23/RetailSnapshot.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/23/RetailSnapshot.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/23/RetailVacancy1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/23/RetailVacancy1.png" alt="">
“The Australian consumer remains quite healthy, which explains why so many offshore retailers have been executing entry strategies over the past few years. We have a high income population which is concentrated within a relatively small number of capital cities and that population is growing. Internet penetration is also high, and many Australians are well travelled with a strong appetite to adopt global brands and fashion.”
The wealth effect delivered through the housing market has created a strong spending environment, and there is a wide range of products to choose from, says the report.
While the battle between online and stores will effect Australian retail, unlike the US, which has seen major store and mall closures, Australia is well placed to integrate disruptors into society, it adds.
“Compared to their American counterparts, Australian landlords realise that they cannot compete with online retail on price alone and have therefore invested heavily in experiences and place making to create an experience for consumers available exclusively in-store,” said Michael Bate, head of Retail at Colliers International.  
“Australian landlords are also exceptionally good at developing an engaging tenancy mix and creating environments where retailers can reach optimal performance.
“We’re now starting to see some of the best tenancy mixes we’ve ever seen in Australia. Landlords are seeing new opportunities to capture shopper attention with increased food and beverage options and providing unique in-store and in centre experiences.”
Although retail sales figures have been trending lower over the past three years, much of this can be explained through supermarket wars, turnaround strategies within department stores and corporate failures within the household goods sector, says the research report.
<a href="https://www.propertyobserver.com.au/images/2017/05/24/AvgeRetailVacancy.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/05/24/AvgeRetailVacancy.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/23/AusSentiment.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/23/AusSentiment.png" alt="">
Sentiment levels have been remarkably resilient in the wake of several recent geopolitical events and the composition of the labour market has been improving in recent data releases. Price increases of major items such as food and fuel have also been subdued. 
“Although there is perceived general shift in the market towards online retailing, there are certain sectors of the market where a physical retail presence is and always will be essential,” said Julian Demetrovics, director of Retail Tenant Advisory at Colliers International. 
“Retailers who specialize in the higher end of the market, particularly in food, fashion and jewellry are now spending more time and capital on their fitouts to focus on maximizing the customer experience.”
From an investment perspective, retail remains an attractive asset class, with transaction volumes only restricted by market stock levels, it said.
<a href="https://www.propertyobserver.com.au/images/2017/05/23/AusRetail.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/23/AusRetail.png" alt="">
Sydney CBD
The average Sydney CBD gross face rents are forecast to increase to 1.9 percent to $10,966 per sqm by the first quarter of 2018, according to Colliers. Sydney CBD retail floor space supply will peak at almost 80,000 sqm in 2020 due to the refurbishment of the Harbourside Shopping Centre.
The CBD office market is in the midst of a development phase that commenced with Barangaroo in 2015 and will continue out to 2021 and beyond with projects from Brookfield, AMP and Lendlease. As these projects reach completion, the standard of retail on offer improves, with Sydney consumers reaping the rewards in the form of laneway activation, new brands and more sophisticated dining experiences. 
Melbourne CBD
In Melbourne, offshore purchaser interest continues to strengthen, with tenant demand for central locations driving up prime face rents with limited prime grade support volumes. 
Changing demands of the consumer in the fashion world has seen a shift particularly in choice towards casual sportswear. The rise in popularity of active wear has not only put pressure on retailers to create a segment of sport apparel but struck as a game changer in the footwear industry, says Colliers.
Brisbane CBD
In Brisbane, prime grade high street retail gross face rents head northward, placing the Brisbane CBD as the third most expensive region across Australia, according to Colliers.
Improved business conditions, strong population growth and record tourism numbers are assisting retail trade turnover across the South East. Strong population growth along with increased tourism numbers is driving rents in Brisbane’s CBD and assisting retail trade within the city’s centre.
Adelaide 
South Australia has seen sustained growth in retail sales, with vacancy on Rundle Mall falling. Sales activity is primarily driven by private investors. Retail sales have primarily been driven by strong growth in café and restaurants, Food and other retail categories. 
Perth
Major centres in Perth are undertaking works to reposition assets, with CBD rents adjusting as demand softens. Over the next decade Perth’s retail sectors landscape could look distinctly different than it does today. The creation of ‘destination’ complexes by larger shopping centres poses significant risks to less significant centres.
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