<p>There are few property developers nationally that can boast a workbook like the ASX-listed developer Cedar Woods. With eight apartment buildings under construction across four states, Cedar Woods is well positioned to take advantage of what Managing Director Nathan Blackburne says is a “national shortage of apartments.”</p>

<p>Cedar Woods purposefully has a diversified portfolio of apartments, townhouses, commercial, and residential communities across the country, enabling the business to remain resilient through market cycles and respond to shifting buyer demand.</p>

<p>Blackburne says there is a great shortfall of housing of all typologies, none more so for apartments. He says that is the case particularly in Perth, where the lack of new apartment projects has been particularly acute.</p>

<p>“Perth has been more affected than Melbourne,” Blackburne explains, noting that over the past five years, “very few new apartment projects” have been launched in either city. Historically, apartments made up around 20 per cent of new housing nationally. Cedar Woods estimates that figure has fallen to around 10 per cent today, a gap they believe must close.</p>

<h2>Apartment appeal rebounding as supply shrinks</h2>

<p>There are signs the tide is turning however. Blackburne says buyer apartment sentiment really picked up in mid 2025. “In October we saw our strongest sales month for apartments in Perth.” The buyer demand has driven their Subiaco apartment development, Incontro, to nearly 70 per cent sold. The increased buyer sentiment has strengthened Cedar Woods’ confidence in bringing forward the next apartment project in Western Australia, a three tower development planned for the prime site on Upham Street in Subiaco, adjacent to Incontro.</p>

<p>Demand is being driven by several factors; the lack of new apartments coming to the market, the increased demand with migration far outstripping the aforementioned supply, and the appetite to live closer to the city.</p>

<p>“Over the past three years, Perth’s population has grown by around 250,000 people, while only around 50,000 dwellings have been delivered,” Blackburne says, adding that more than twice that number would be needed just to keep up.&nbsp;</p>

<p>He said that many buyers are being forced to the urban fringe because of the greater supply of land product, but that, Blackburne argues, is pushing the fringe further out and motivating a re-evaluation of the value of inner- and middle-suburb apartments.</p>

<p>Demographic shifts are helping drive this rethink. Cedar Woods is seeing more boomers downsizing, young professionals entering the market, and a rising number of single-person households. There’s also a growing trend of parents buying apartments for teenage children, motivated by fears that housing prices will become out of reach. “It’s not only a strong investment now, but it can serve as a first home when their children move out.”</p>

<h2>National diversification strategy</h2>

<p>Cedar Woods’ strategy is not limited to Perth. Blackburne outlines their aim to diversify by price point, product type, and geography, which “gives us a broad customer base and smoother earnings profile.” Throughout their markets, they’re combining apartments, townhouses, and masterplanned communities, allowing flexibility to pivot toward undersupplied segments as demand evolves.</p>

<p>In Victoria, Cedar Woods is pressing ahead with a major site in Fairfield, just northeast of Melbourne’s CBD, a site which Blackburne says the company has had its sights on for many years. They are planning to deliver three towers with over 300 apartments, with the plans likely to be submitted in early 2026.</p>

<p>Blackburne also expresses optimism about broader inner-Melbourne supply dynamics.<br />
<br />
“While Melbourne’s apartment market is better supplied than Perth’s, and population growth remains strong, Cedar Woods believes the current stock will be absorbed quickly,” Blackburne says, however he warns that policy disincentives remain. “In Victoria … there are quite a lot of obstacles for apartment buyers,” he says, adding that the industry is working with the state government to “remove those barriers” and avert prolonged undersupply.</p>

<p>Cedar Woods has plans on the desks of the VIC Government to develop a 20-storey tower in Southbank, in the heart of Melbourne’s arts precinct. Designed by Rothelowman, the proposed tower will deliver 180 apartments, ranging from studios to three-bedrooms, along with creative amenity space devoted to arts and digital industries, a food and drink tenancy at street level, and a 700sqm recreation deck with indoor lounge space will provide a resident amenity hub.</p>

<p>Blackburne frames the project as a response to Melbourne’s growing undersupply of signature inner-city living. “We saw a thematic: a looming undersupply in inner-Melbourne, particularly in high-quality apartments, and wanted to capitalise on that,” he says. The site’s proximity to the Melbourne Arts Precinct, key tram lines, and Southbank’s cultural fabric makes it especially appealing, Blackburne says.</p>

<h2>Charting the course forward</h2>

<p>On top of the apartment developments underway and planned in Perth and Melbourne, Cedar Woods has a multi-stage apartment development in Brisbane’s Woolloowin, and several years remaining on their masterplanned communities in Williams Landing in Melbourne and Glenside in Adelaide, both of which offer a mix of apartments and townhouses.</p>

<p>Blackburne says the developer has been able to mitigate some of the macro risks currently at play in the new development space, particularly in the construction sector.</p>

<p>“Cedar Woods has been able to make many apartment projects work because of good buying of the raw land in the first place, as well as its strong pipeline of apartment projects, enabling the company to attract builders to build deep, multi-year relationships.”&nbsp;</p>

<p>For Cedar Woods, 2026 is set to be significant, with anticipated approvals and submissions laying the groundwork for fresh apartment supply and multiple launches in 2027.</p>

<p>&nbsp;</p>


Joel Robinson

Cedar Woods ramps up apartment development amid Australia’s deepening housing shortfall

<p data-end="524" data-start="374">Rockdale has long been characterized as a suburb on the cusp. Well-located, well-connected, but historically underserved by modern apartment offerings.</p>

<p data-end="956" data-start="526">It has everything going for it: outstanding connectivity to the Sydney CBD, just four train stops to Central Station, strong local amenity anchored by Roc​kdale Plaza and a growing main-street dining scene, and enviable proximity to Brighton-Le-Sands. The six-kilometre beachfront is lined with bayside restaurants, cafés, and walking paths, giving residents a lifestyle typically associated with much more expensive coastal suburbs.</p>

<p data-end="1241" data-start="958">What Rock​dale has lacked is high-quality contemporary apartments. Most existing developments date back several decades, with floorplans that no longer support modern living needs, and buildings constructed long before today’s standards in engineering, efficiency, and sustainability.</p>

<p data-end="1627" data-start="1243">Lender, fund manager and apartment developer Princeton identified the gap early. Seeing all the right ingredients in Rockd​ale, transport, lifestyle, retail, and affordability, they set out to deliver what the suburb was missing. Their answer is <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, a collection of 58 one-, two-, and three-bedroom apartments now nearing completion just a short walk from Ro​ckdale Plaza, home to over 50 specialist retailers and anchored by&nbsp;Woolworths, Big W and Aldi.</p>

<p data-end="1627" data-start="1243">[smartcode_project:default project_id=136442 project_image_fid=355216]</p>

<p data-end="1847" data-start="1680">Understanding they would be resetting the benchmark for the area, Princeton focused on ensuring buyers received best-in-class quality, longevity, and protection.</p>

<p data-end="2400" data-start="1849">A major step was securing the sought-after Latent Defects Insurance policy from Resilience Insurance. This policy protects apartment buyers from structural or waterproofing defects for the first 10 years of the building’s lifecycle. Crucially, it is first-response insurance, meaning that if an issue arises, the insurer pays immediately for remediation—rather than waiting for lengthy investigations to determine fault before work can begin. For purchasers, it offers an unprecedented layer of security rarely seen in Sydney apartment projects.</p>

<p data-end="2845" data-start="2402">During construction, independent building inspection firm SDSS has been providing Technical Inspection Services, bringing highly specialised construction experts on-site at key stages to ensure workmanship meets the highest standards. The project is being built by Coplex, an iCIRT-rated construction company, and throughout the build SDSS has frequently referred to <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a> as one of the best projects currently on their books.</p>

<p data-end="3134" data-start="2884">Princeton also doubled down on comfort, acoustics, and livability.&nbsp;As well as being the only building along Princes Highway with a landscaped buffer between the building and the road, Princeton has purposefully included double-glazed windows in all apartments to reduce noise.</p>

<p data-end="3134" data-start="2884">Apartments feature double-glazed, noise-reducing windows and ducted air conditioning in every residence.&nbsp;In addition to the project’s transport convenience, Princeton has partnered with GoGet Car Share to provide a dedicated GoGet vehicle housed permanently within the building. Residents will receive a free annual GoGet membership, paying only usage fees, offering a flexible alternative to owning a second car and enhancing the project’s sustainability credentials.</p>

<p data-end="3134" data-start="2884">[smartcode_project:default project_id=136442 project_image_fid=277075]</p>

<p data-end="3271" data-start="3136">Residents will enjoy an exclusive rooftop oasis, purpose-designed as an extension of their living space. The communal rooftop includes BBQ facilities and outdoor entertaining areas, a&nbsp;pergola-shaded dining zone, a dedicated children’s play space, and a landscaped herb garden.</p>

<p data-end="3558" data-start="3424">Princeton and Coplex is approaching completion of <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, and are expecting residents to move in early in the new year. The mix of apartment configurations and price points have been a hit with young professionals, those who need to commute to the CBD, and families who appreciate doorstep amenity.</p>

<p>“Marque is a place where residents will be proud to call it home," Princeton Head of Development George Young says.</p>

<p>"We’ve worked really hard with Coplex and our design team to deliver an incredible building for the future home owners to make their own. The homes are all designed to allow the residents to make it their own, a place to belong and live a stylish urban life."</p>

<p data-end="3558" data-start="3424">[smartcode_project_cta:default project_id=136442]</p>


Marque Rockdale sets a new standard of apartment living in Sydney's south

<p>Plans to revitalize the&nbsp;long-established Benowa Gardens Shopping Centre into a mixed-use community combining living, shopping, dining, health and wellbeing facilities, have been proposed to the Gold Coast City Council.</p>

<p>The Benowa Gardens Urban Village proposal by Benowa Gardens Holdings seeks to transform the 17,660 sqm site at <a href="https://www.apartments.com.au/new-apartments/203-ashmore-road-benowa-qld-4217">203 Ashmore Road</a> into a contemporary, sustainable destination that reflects global trends in modern community design while retaining the familiar local character residents value.</p>

<p>The site is bordered by Ashmore and Benowa Roads and Carrara, with ready access to Pindara private hospital, four schools, TAFE, sports fields and the nearby Botanic Gardens.</p>

<p>Benowa Gardens Holdings is seeking a preliminary Council approval only for its proposed masterplan and variations to the site’s Neighbourhood Centre zoning.&nbsp;<br />
Formal Public Exhibition commenced Friday and also marks the start of comprehensive community consultation with surroundings residents, schools, P&amp;Cs, existing retailers, nearby sporting clubs, arts groups and Botanic Gardens volunteers.</p>

<p>Designed by Neylan Architecture, the masterplan envisions around 413 new apartments, complemented by upgraded retail, dining, and wellness amenities as part of 10,000 sqm of retail, and 9,630 sqm of office space/medical suites.</p>

<p>The development will feature green open spaces, shaded promenades, landscaped terraces, pedestrian walkways, and expanded healthcare and lifestyle services in synergy with the neighbouring Pindara Private Hospital and local schools.</p>

<p><img alt="Benowa" data-entity-type="file" data-entity-uuid="244f4d54-2e67-4141-92b8-78d5735f47c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2012.47.34%E2%80%AFPM.png?VersionId=FmF5lzhpwVZc7POsdB770TJ_Bf2c0od8" /></p>

<p>“This concept embraces the way people increasingly want to live - safely, conveniently, and within strong local communities,” said Patrick Lu, Director of Benowa Gardens Holding.</p>

<p>“Benowa Gardens will set a new benchmark for integrated living on the Gold Coast. It’s a thoughtful, community-minded evolution that brings global best practice in urban design to one of the city’s most established areas.”</p>

<p>Lu said this isn’t just a redevelopment, it’s a renewal with purpose.</p>

<p>“Benowa Gardens has served the community for decades. Our goal is to ensure it continues to do so for generations to come, as a lively, connected Urban Village where people can truly live, work and thrive. We’re already talking to school leaders and the community to seek their feedback on our proposal, and have taken on board their ideas to improve student safety with additional “traffic calming” measures on Carrara Street. We’re conducting meaningful and sincere consultations and want to play our role in preserving and enhancing the local community."</p>

<p>The proposed redevelopment aims to deliver tangible benefits across the Benowa and wider Gold Coast community, including:</p>

<ul>
	<li>Improvement of retail amenity, to capture the under-served local market demand and keep the local business at their local shopping centre.</li>
	<li>Housing diversity; offering a range of apartment types for key workers, downsizers, and local families who wish to remain in the area.</li>
	<li>Enhanced shopping and dining; revitalised retail spaces designed to support local businesses and attract more visitors.</li>
	<li>Health and wellbeing access; additional medical and wellness amenities to complement existing local facilities.</li>
	<li>Improved traffic flow and access; two new access points, upgraded intersections, upgrade pedestrian pathway’s signal and proposed upgrade of pedestrian and cycle connections/space to improve safety and convenience, especially for school children.</li>
	<li>Environmental sustainability; energy-efficient design, green rooftops, and water-sensitive landscaping to reduce emissions and enhance comfort.</li>
	<li>Local jobs and investment; supporting hundreds of construction and long-term roles while stimulating local economic growth.</li>
</ul>

<p>The group behind the project boasts extensive experience in the property development industry, both in Australia and international markets. Over the past 23 years, the group has been involved in the development and management of a diverse portfolio of assets including residential dwellings, shopping centres, bulky-goods stores, community and medical facilities, childcare centres, offices, hotels, and taverns, across Brisbane, Ipswich, and the Gold Coast.</p>


Benowa Gardens to become new mixed-use urban village

<p>Demand for townhouses in Melbourne’s inner west has surged as buyers seek the elusive combination of space, affordability, and location.&nbsp;</p>

<p>With family-first apartments increasingly rare and standalone homes often out of reach, townhouses have emerged as the new sweet spot, delivering generous living areas with lower maintenance needs within close proximity to the Melbourne CBD.&nbsp;</p>

<p><a href="https://www.apartments.com.au/new-townhouses/kings-lane-south-kingsville-50-58-new-street-south-kingsville-vic-3015">Kings Lane</a>, the new under-construction townhouse development by the family-owned developer&nbsp;<a href="https://www.apartments.com.au/developers/blue-run">Blue Run</a>&nbsp;in South Kingsville, responds directly to this trend. Comprising just 25 residences designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project offers a compelling alternative to both apartment downsizers and family upsizers. With three-bedroom homes priced under $1 million, it presents one of the area’s rare attainable pathways to townhouse living less than eight kilometres from the CBD.</p>

<p>[smartcode_project:default project_id=145042 project_image_fid=355147]</p>

<p><a href="https://www.apartments.com.au/developments/south-kingsville-vic-3015">South Kingsville</a> itself is quietly becoming one of Melbourne’s most dynamic pockets of urban renewal. Flanked by the established appeal of Yarraville, Newport and Williamstown, the suburb balances quiet, village-like streetscapes with major infrastructure upgrades and a growing slate of retail, dining and lifestyle amenity.&nbsp;</p>

<p>Kings Lane occupies a well-connected site at 50–58 New Street, just off Blackshaws Road and within walking distance of the emerging Union Quarter precinct, a major retail destination anchored by Woolworths, specialty food outlets and wellness services.</p>

<p>A 400-metre stroll brings residents to the Vernon Street shops, a local favourite known for its mix of independent grocers, cafes and family-run eateries. For broader shopping options, Altona Gate Shopping Centre and Yarraville Square are both within a short drive. Spotswood IGA and the Williamstown retail strip further broaden the convenience of daily essentials.</p>

<p>[smartcode_project:default project_id=145042 project_image_fid=355139]</p>

<p>Dining options in the area lean toward eclectic and community-driven, with standouts like Rocco’s Deli, Dad and Dave’s, and Pizza d’ASPORTO offering a range of casual and elevated menus. Cafés such as Hudson Road Wine &amp; Beer and Blacksheep Coffee add to the lively yet local feel of the neighbourhood.</p>

<p>Green space is another hallmark of life at Kings Lane. Edwards Reserve is close enough for morning walks or casual sport, while larger parks like Newport Lakes, Yarraville Gardens, and Cruickshank Park are all a few minutes’ drive away. More than half of the nine-hectares of new green space or parkland being created as part of the West Gate tunnel works is located just at the end of New Street, the same street as Kings Lane.</p>

<p>&nbsp;</p>

<p>For those with school-age children, South Kingsville is home to a range of quality childcare centres and schools, including Kingsville Primary, Spotswood Primary, and Williamstown North Primary. Community Children’s childcare and South Kingsville Preschool are nearby, making the suburb particularly attractive to young families.</p>

<p>Transport links continue to improve, with Spotswood Station and the West Gate Freeway both within a five-minute radius. Future upgrades, including the proposed sky rail for Newport and Spotswood, and the delivery of the West Gate Tunnel project, promise even better access to the CBD and Melbourne Airport in the years to come.</p>

<p>Kings Lane's 25 all-electric townhouses are currently under construction, and will complete in late 2026.</p>

<p>[smartcode_project_cta:default project_id=145042]</p>


Staff Writer

Kings Lane townhouses offers rare value in Melbourne's thriving inner west

<p>Developer-builder <a href="https://www.apartments.com.au/developers/billbergia">Billbergia</a> has set a new apartment price record for <a href="https://www.apartments.com.au/developments/rhodes-nsw-2138">Rhodes</a>, a suburb the company has been instrumental in transforming over the past two decades.</p>

<p>The milestone follows the delivery of thousands of apartments across the harbourside peninsula, culminating in the $4.5 million sale of a 220 sqm penthouse in the <a href="https://www.apartments.com.au/buildings/rhodes-central-oasis-39-marquet-street-rhodes-nsw-2138">Rhodes Central Oasis</a> building, which Billbergia completed earlier this year. It is the first apartment in Rhodes to surpass not only the $4 million mark for settled sales, but also the $3 million mark, eclipsing the previous $2.75 million record set in 2021.</p>

<p>The purchaser had originally secured several apartments in the 40-storey tower off the plan as investments. During settlement, she spent more time in the Rhodes area and was so impressed with the building that she decided to downsize from her Northbridge home into the four-bedroom plus MPR penthouse.</p>

<p>The sale underscores the long-term work Billbergia has undertaken in Rhodes since the early 2000s. The company, rated 4.5 Gold Stars under the NSW iCIRT system, identifying it as one of the state’s most trustworthy and financially secure developers, was a pioneer of the area’s urban renewal. What was once a heavily industrial waterfront has become one of Sydney’s most successful examples of transit-oriented development.</p>

<p><img alt="Billbergia" data-entity-type="file" data-entity-uuid="56093d7f-db18-42f4-bf9b-115bdf76f5f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2011.10.06%E2%80%AFAM.png?VersionId=pca77Mr.H83nwXbJexmaLUAqBewtQ7d9" /></p>

<p>Billbergia is now driving the peninsula’s next major evolution: the most ambitious project in its nearly four-decade history. They are planning the Rhodes Bay Masterplan, an eight-tower, mixed-use precinct on Leeds Street. Currently with the NSW Government’s Housing Delivery Authority which is now championing large-scale projects across the state, the Rhodes Bay Masterplan lays the groundwork for a generational reshaping of this important pocket of Sydney’s Inner West.</p>

<p>The masterplan spans more than 31,000 sqm of amalgamated industrial land along the foreshore, land that has been privately held and inaccessible to the community for more than a century. According to Billbergia’s Development Director, Saul Moran, reclaiming this land for public use is central to the company’s vision.<br />
<br />
“What’s so exciting is that we have over 300 metres of privately-held industrialised waterfront, land that’s been locked away for more than 100 years, which we’re bringing back to the community,” he says. “It’s taken many years to assemble sites like these, and the goal now is to transform them into meaningful public space where new homes can be built in an integrated, amenity-rich setting.”</p>

<p>At full completion, the Rhodes Bay Masterplan is expected to deliver over 2000 apartments, with the first 1000 to be completed by 2029. Billbergia’s design focused on nine slender towers, so they could give back more to the ground plane. There will be more than 16,000sq m of new parkland and recreation space, including sports fields, a foreshore play area and waterfront green links. Around 14,600 sqm of retail is also proposed, extending the precinct’s role as a true mixed-use hub.</p>

<p><img alt="Rhodes Bay" data-entity-type="file" data-entity-uuid="240ffc41-4f26-421a-9606-5c56f6fc2d93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2011.05.48%E2%80%AFAM.png?VersionId=BkBxZr7S8CAt1vgNa8AF3zjdc3YuVh0L" /></p>

<p>“Density only works when it’s paired with amenity, transport and open space, and that’s what’s made Rhodes such an amazing success story,” Moran says, adding that the demographic shift Billbergia has seen over the last two decades has informed their future development pipeline in the suburb.</p>

<p>“Rhodes has moved from being largely an investor market to a strong owner-occupier community,” Moran says. “There’s real demand for three-bedroom homes, flexible intergenerational layouts, and apartments people can grow into.”</p>

<p>&nbsp;“We’re designing taller, more slender towers to free up the ground level for sport, recreation and green space. High-density communities thrive when people have the best backyards in Australia, and that’s what we want to create here.”</p>

<p>Demand remains robust, evidenced by Billbergia’s recent results. “We achieved a record sale across the entirety of Rhodes Central just last week,” Moran says. “It shows the depth of confidence buyers have in what’s being built here.”</p>

<p>Billbergia’s vertically integrated model allows them to overcome the recent cost escalation and challenges in the build environment. “Having an in-house construction team lets us control feasibility, value management and quality from day one,” Moran says. “It’s critical in the current market, where construction escalation is at the forefront of every project’s viability.”</p>

<p>The company is also leveraging the NSW Government’s new Housing Delivery Authority process, which Moran describes as a more efficient pathway without compromising design standards.<br />
<br />
“We’re really applauding the NSW Government for its efforts to increase housing supply. There’s been a remarkable improvement in how they’re helping deliver more homes, more quickly.”</p>

<p>Billbergia has already commenced construction of Stage One of the Rhodes Bay masterplan. They will be lodging the State Significant Development Application before Christmas.</p>

<p>“We’re moving quickly, but with due care,” Moran says. “This is a generational precinct, and it needs to be done right.”</p>


Billbergia smashes suburb record as Rhodes transformation continues

Residential Vacancies

<html><body>
<p>Vacancies have remained high in Melbourne, according to SQM Research's national residential rental vacancy report for February.</p>

<p>"Melbourne remains weighed down by underwhelming demand for rental accommodation," said Louis Christopher, managing director of SQM Research.</p>

<p>Melbourne’s vacancy rate rose from 4.4% to 4.5%</p>

<p>It was down from the 4.7% last December, which was the highest level since SQM Research started measuring data in 2005. </p>

<p>Melbourne’s vacancy rate ranks as the highest for a capital city in the nation, with the withdrawal of international student tenants hitting the city hard, Christopher noted.</p>

<p><img alt="" height="506" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/vacancy_rates_sqm.jpg" width="1378"></p>

<p>The inner Melbourne CBD vacancy rate stands at 7.5%, down from 9.4% last October.</p>

<p>Sydney’s overall vacancy rate rose 0.1% to 3.3%. </p>

<p>The Sydney CBD vacancy rate dropped to 6.3% in February 2021, down from a high of 14.8% in May 2020, indicating a return to life for Sydney city. </p>

<p>Elsewhere, in Perth, Adelaide, Canberra, Darwin and Hobart, the vacancy rate was below 1%.</p>

<p>Brisbane’s vacancy rate also remained tight, down to 1.5% in February from January 2021.</p>

<p>SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.</p>

<p>"The figures for Melbourne and Sydney would be disappointing for existing property investors," Christopher said.</p>

<p>"Normally, vacancy rates in these two cities fall over February, in part due to international students starting their semesters.</p>

<p>"But given the ongoing closure of the international border, the seasonal increase in rental demand has not occurred this year. </p>

<p>"This year will favour tenants in the inner cities but will also very much remain a landlord’s market in regional Australia.</p>

<p>“Elsewhere, we are still recording strong interest from tenants in larger properties in outer suburban locations as well as wider regional Australia. </p>

<p>'Investment property owners in Darwin or Perth have also enjoyed a strong year of rental returns.”</p>

<p>Over the month to 12 March 2021, capital city average asking rents fell 0.4% for houses to $550 per week and 0.2% for units to $412. </p>

<p>Reflecting accommodation oversupply, Melbourne and Sydney unit asking rents fell by 1.4% and 0.4%, respectively over the past month.</p>

<p>House rents also fell in Sydney by 1.2% while Melbourne house asking rents were flat. </p>

<h2><strong>Recently listed VIC properties:</strong></h2>

<p>[smartcode_project:default project_id=29908]</p>

<p>[smartcode_project:default project_id=26935]</p>

<p>[smartcode_project:default project_id=29909]</p>

<p> </p>
</body></html>

Melbourne also posted a 12% drop in asking unit asking rents over the year to March 2021

jchancellor

Melbourne rental vacancies remain high given international student absence: SQM

<html><body>
<p>SQM Research has revealed the national residential rental vacancy rate increased by 0.1% over the month of December 2020. The total number of vacancies Australia-wide is now 76,658 vacant residential properties. This time last year, the national vacancy rate was higher at 2.5%.</p>

<p>The rise for the month was predominantly driven by Melbourne and to a lesser extent, Sydney. Brisbane, Perth and Hobart remained stable. While Adelaide recorded a minor decrease of 0.1% in December.</p>

<p>Melbourne’s vacancy rate increased to 4.7% in December and continues to be the highest vacancy rate in the nation. This time last year, Melbourne’s vacancy rate was low at 2.5%. Sydney’s vacancy rate increased by 0.1% to 3.6%.</p>

<p>The surplus of rental property in Melbourne and Sydney’s CBDs have declined, Melbourne CBD vacancy rate now stands at 8.7%, down from 9.1% in November. Sydney CBD vacancy rate has declined to 7.8% in December, down from 9.5% in November.</p>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2020_vacancy_data_sqm.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="211" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/2020_vacancy_data_sqm.jpg?itok=1BaufZu8" width="580"></a>

<figcaption><em>Source: SQM Research</em></figcaption></figure><h2>Asking Rents</h2>

<p>Over the month, Capital City average asking rents decreased 0.2% for houses and 0.5% for units for the week ending 4 January 2021 to record asking rents of $539 per week for houses and $406 per week for units.</p>

<p>However the majority of capital cities recorded increases in both house and unit asking rents, with Darwin recording the highest increase of 4.1% over the month for houses and 4.0% in unit asking rents. Hobart recorded a 3.1% increase in house rents but a 3.6% decline in unit rents.</p>

<p>Sydney and Melbourne recorded declines in both house and unit asking rents over the month, 0.8% and 0.1% respectively for houses, and decreases of 0.6% and 1.9% respectively, for units rents, which weighed on the weighted results for the capital cities.</p>

<p>Canberra recorded increases in house rents of 1.4% but unit rents declined by 0.7%. Brisbane, Adelaide and Perth house and unit rents also increased over the month.</p>

<p>Year on year, capital city average asking rents declined for both houses and units – 2.7% and 7.1% respectively. Sydney in particular recording a high 10.3% decline in units and 7.6% decline in houses in December 2019. Melbourne’s asking rents also declined year on year, 4.8% for houses and 8.7% for units.</p>

<p>Darwin’s year on year house rents saw a significant 27.3% growth and Perth house rents also increased by 12.0% and units 9.3% growth over 12 months.</p>

<p>" It’s clear Sydney and Melbourne apartment investors were the losers of 2020 with rents and prices falling. However, if you owned an investment property in Darwin or Perth, or indeed regional Australia, you have had one of the best years ever," Louis Christopher, Managing Director of SQM Research summarised.</p>
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Sydney and Melbourne recorded declines in both house and unit asking rents over December, 0.8% and 0.1% respectively for houses, and decreases of 0.6% and 1.9% respectively, for units rents

urban.com.au

Melbourne & Sydney unit asking rents down over 8.5% in 2020

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<p><span style="font-size: 12.16px;">Most indicators suggest that Melbourne has moved into first place as the city creating the most jobs and growth.</span></p>
<p>That said, the New South Wales Treasurer handed down a 2017-18 Budget yesterday revealing that the state's finances are in rude health.</p>
<p>Each month I've been tracking the unprecedented stamp duty take resulting from Sydney's property boom, a gift which has kept on giving.</p>
<p>It was reported yesterday that the state beat projections in 2016-17 to hit another surplus of $4.5 billion, with NSW now in a negative net debt position, boasting a net worth totalling more than a quarter of a trillion dollars, and with enough left over to set up a $15 billion Future Fund.</p>
<p>To complete the virtuous circle the state now plans to unleash a towering $72.7 billion spend on infrastructure, incorporating an impressive range of projects, a further record $7.7 billion for health infrastructure, and $4.2 billion to build 26 new schools and to fund upgrades.</p>
<p>This is a positive move for Sydney, and the harbour city will need to get these projects moving to fill the hole left by any coming downturn in the rate of apartment building.</p>
<p>Melbourne vacancies keep falling</p>
<p>We seem to have reached an inflection point in this property cycle.</p>
<p>Lower interest rates spurred record numbers of property investors into the market since 2012.</p>
<p>But now regulators and banks are winding back interest-only loans and have introduced tougher serviceability measures and higher mortgage rates for investment products.</p>
<p>And this is at a time when demand for rentals has never been higher, with employees changing roles and locations more frequently than in times past, and a record boom in international visitors and students.</p>
<p>While the rate of dwelling construction has been impressive, I recently mused <a href="https://petewargent.blogspot.com.au/2017/06/is-sydney-heading-for-rental-crisis">here</a> whether the number of available rental properties will keep up with demand this year and next. </p>
<p>Vacancy rates declined across much of Australia in May, with the national vacancy rate dropping from 2.4 per cent to 2.2 per cent. </p>
<p>Vacancies remained super-tight in Hobart (0.6 per cent) and Canberra (1 per cent), while in Sydney the vacancy rate declined to just 1.8 per cent. </p>
<p>Vacancy rates ticked down in Brisbane, Perth, and Darwin in May, though from elevated levels in the case of Perth and Darwin, where median asking rents continue to slide. </p>
<p>In Melbourne the vacancy rate is almost in freefall, halving from more than 3 per cent at the end of 2014 to a 7-year low of just 1.5 per cent. <span style="font-size: 12.16px;"> </span></p>
<p><span style="font-size: 12.16px;">Inflation impact?</span></p>
<p>SQM's asking rents index shows rents already rising for apartments in Sydney (up 3.5 per cent over the year to June 20), and quite sharply for apartments in Melbourne (up 5.9 per cent).</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/06/22/SQM1-1.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/06/22/SQM1-1.jpg" alt=""></p>
<p>The vacancy rates figures suggest that rental prices may soon level off in the resources capitals, while there is mounting evidence of a tightening rental market in the two most populous capital cities. <span style="font-size: 12.16px;"> </span></p>
<p>If rents do start to rise again then this has implications for monetary policy since rents form an important part of the consumer price index (combined with rising energy prices, a strengthening rental market could be enough to scope out further rate cuts).<span style="font-size: 12.16px;"> </span></p>
<p>On the other side of the ledger, oil prices have declined to their lowest level in 9 months. </p>
<p>Overall, the figures suggested that the rental markets in the weakest cities are approaching their cyclical nadir, while most other markets ex-Brisbane are either tight or tightening. </p>
<p>Most notably, the feared oversupply in Melbourne has not materialised - if anything the number of available rentals is failing to keep pace with demand. </p>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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pwargent-M4siyDbqQY

Melbourne vacancies crash to a 7-year low

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<h3 class="post-title entry-title"> </h3>
<div id="post-body-7040816109967032059" class="post-body entry-content">
<div>SQM Research reported that year-on-year vacancy rates are slightly higher.</div>
<div> </div>
<div>Sydney and Melbourne reported vacancy rates of 1.8 percent and 2 percent respectively.</div>
<div> </div>
<div>In Brisbane, where there is still a significant pipeline of inner city apartments set to hit the market, vacancy rates are 2.9 percent. </div>
<div> </div>
<div>Perth's vacancy rate was steady from the previous month at 5 percent, while the Darwin market appears to be have steadily improved with vacancy rates at 3.1 percent. </div>
<div> </div>
<div>The tightest markets are Hobart (0.6 percent) and Canberra (1.1 percent), and asking rents have increased accordingly in these cities. </div>
<div> </div>
<div><a href="/images/2016/10/19/SQM1.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="/images/2016/10/19/SQM1.jpg" alt=""></div>
<div> </div>
<div>Smoothing the data shows that over the past year vacancy rates have been relatively flat in Sydney and Melbourne, but vacancies have generally been elevated in the resources states. </div>
<br><div class="separator"><a href="/images/2016/10/19/SQM2.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/10/19/SQM2.jpg" alt=""></div>
<div> </div>
<div>This has been reflected in soft rents in Perth and Darwin.</div>
<div> </div>
<div>Despite the apartments pipeline asking rents for units are higher year-on-year in each of the three most populous cities, particularly in Sydney (+4.4 per cent) and Melbourne (+5.1 per cent) as the new stock comes online. </div>
<div> </div>
<div>Concluded SQM Research:</div>
<div> </div>
<div><em>"Looking forward, vacancies are likely to rise in Melbourne, Brisbane and Sydney over 2017 as more new high-rise apartment developments come onto the market. </em></div>
<div><em> </em></div>
<div><em>However, we maintain that the oversupply issue appears to be constrained to concentrated areas such as the inner-city regions. </em></div>
<div><em> </em></div>
<div><em>We are not as confident we will see a contagion affect where the whole capital city market is affected."</em></div>
<div><em> </em></div>
<div>
<p><span><em>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>.</em><br></span></p>
<p><em>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>.</em></p>
</div>
</div>
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Vacancies up slightly year-on-year: Pete Wargent

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<div><span>National residential vacancies fell to 2.5% during January, with year on year results showing vacancy levels above seasonal trends, according to SQM Research.</span></div>
<div><span> </span></div>
<div><a href="/images/2016/02/17/VRJan2016.png" target="_blank">Click to enlarge</a></div>
<div>
<br><img src="/images/2016/02/17/VRJan2016.png" alt=""><br><br><span>Canberra had the largest fall, down 0.5 percentage points over the month of January, according to SQM Research managing director Louis Christopher.</span>
</div>
<div><span> </span></div>
<div><span>"Darwin and to a lesser extent Sydney, also recorded monthly falls, with Darwin vacancies falling from 4.2% in December 2015 to 3.8%. Despite this, both Darwin and Perth continue to record an alarming number of vacancies, particularly when you consider the number of vacancies recorded this time last year (January 2015)," he said.<br><br>"Overall, vacancies for January fell in line with the seasonal trends associated for this time of year. We believe the seasonality observed has much to do with the end and start of tertiary studies which normally see a significant movement of students. </span></div>
<div><span> </span></div>
<div><span>"Another trend observed in the data is the recovery of the Canberra rental market, which for about four years was in a slump. I would suggest that on the back of falling vacancy rates and rising asking rents that the rental slump is now over for the ACT."<br><br></span></div>
<div><span>According to SQM Hobart recorded the fastest rental rises for the capital cities, with asking rents rising 5.8% for houses, while units underperformed, falling by 2.3%. Average Hobart house rental is $337 a week, with units $274 a week.<br><br><br></span></div>
<div><a href="/images/2016/02/17/b3cb5918-34f8-4781-a837-6f74ce7101bc.png" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/02/17/b3cb5918-34f8-4781-a837-6f74ce7101bc.png" alt=""></span></div>
<div> </div>
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po-LsXgBTHBmX

Falling vacancies recorded for January 2016: SQM Research

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<p><span>The number of residential vacancies nationally picked back up slightly during November, in line with seasonal trends, latest figures by property research house SQM Research show.</span></p>
<p><span>The vacancy rate was 2.3% nationally, and there were 71,737 vacancies, the data shows. </span></p>
<p><span>Vacancies appear to be following the common seasonal trends expected at this time of year, where rental accommodation tends to become more available for a variety of factors.</span></p>
<p><span>The most predominant of these is the departure of university students from their regular rental accommodation over the four-month summer break.</span></p>
<p><span>Over the last year vacancies in both Perth and Darwin have almost doubled, with November figures showing a yearly rise of 59% for Perth.</span></p>
<p><span>Most other capital cities remained stable year-on-year, with Hobart and Melbourne recording yearly declines.</span></p>
<p><span>The falls in Hobart most likely relate to the recovery in its local economy, in turn being benefited from the lower Australian dollar helping its local tourist industry, says SQM.</span></p>
<p><span>Year-on-year results for Sydney reveal a tight residential market, with a vacancy rate of 1.7% based on 10,045 vacancies in November.</span></p>
<p><a href="/images/2015/12/15/eb23b8cc-baf5-4976-8155-0351a86438d8.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/12/15/eb23b8cc-baf5-4976-8155-0351a86438d8.png" alt=""></span></p>
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