Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-storey project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm site.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

[smartcode_project:default project_id=509 project_image_fid=335425]

Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

[smartcode_project:default project_id=509 project_image_fid=335414]

The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

[smartcode_project:default project_id=509 project_image_fid=335415]

This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Now selling from $640,000 to $3.95 million, with off-the-plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

[smartcode_project_cta:default project_id=509]

Joel Robinson

640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Sydney House, the residential redevelopment of the landmark City Tattersall building on Pitt Street in the Sydney CBD, will officially launch to the market this month.

The $800 million development, a joint venture between&nbsp;Singapore-listed <a href="https://www.apartments.com.au/developers/first-sponsor">First Sponsor</a>&nbsp;and leading Melbourne-based developer&nbsp;<a href="https://www.apartments.com.au/developers/icd-property">ICD Property</a>, will see a glass tower with 241 apartments and a 135-room hotel built above the restored heritage-listed podium.

[smartcode_project:default project_id=12428 project_image_fid=312145]

The apartments will offer&nbsp;rare northeast-facing views across the sparkling Sydney Harbour and Hyde Park, all positioned above a luxury hotel with exclusive access to premium amenities and five-star lifestyle services.

Internationally acclaimed architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/bvn-architecture">BVN Architecture</a>&nbsp;handled the design for the residential component and the interiors for the hotel, while&nbsp;<a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>&nbsp;focused on the heritage podium.

[smartcode_project:default project_id=12428 project_image_fid=6670]

First Sponsor’s CEO, Neo Teck Pheng, together with ICD Property’s CEO, Matthew Khoo commented that the joint venture team was ecstatic to bring this extraordinary project to market as the first opportunity for those looking to secure their ultimate CBD luxury residence elevated by premium hotel amenities, including select premium services designed for effortless living.

“<a href="https://www.apartments.com.au/new-apartments/sydney-house-194-204-pitt-street-sydney-nsw-2000">Sydney House</a> will offer a sophisticated expression of modern CBD living, capturing panoramic vistas to Sydney’s most beloved icons, including the Sydney Harbour Bridge as well as Hyde Park out to the North and South Heads,” Khoo said.&nbsp;

&nbsp;

[smartcode_project:default project_id=12428 project_image_fid=312146]

Mr Neo expressed that the reinterpretation of the heritage podium levels will feature an elegant heritage bar and restaurant, along with luxurious hotel and function facilities, enhancing the experience for residents. The historical features will be reborn, ensuring that these grand, opulent spaces will once again be enjoyed, appreciated and celebrated by residents, Sydneysiders as well as interstate and international visitors alike.

Managing sales for the project, SRM Residential Partner Tim Rees said that the team has received an overwhelming response to date, largely from local downsizers and upgraders looking for the ultimate lifestyle purchase.&nbsp;

“Once completed in late 2027, Sydney House will be Sydney CBD’s newest icon blending modern architecture with historic grandeur located in one of the most prestigious enclaves of the CBD,” Rees said.&nbsp;

“Pitt Street is arguably the most significant street in all of Sydney. Just a stone’s throw from Circular Quay, Sydney Opera House, Hyde Park and Darling Harbour, Sydney House offers seamless connection with the CBD and beyond. Pitt Street Mall is literally across the road and there is an abundance of dining and cultural venues in close proximity. The outlook from Sydney House will be breathtaking with views of Hyde Park and Sydney’s famous iconic landmarks on offer.

“Following the trend of other global cities such as New York, London, Paris and Tokyo, luxury inner city apartment living with access to premium hotel amenities is the new ‘trophy home’ for wealthy downsizers or empty-nesters who aren’t looking to slow down, as they want to live in the heart of the action.”

[smartcode_project:default project_id=12428 project_image_fid=350624]

The project boasts a prime CBD location surrounded by the city’s most premium shopping centres including David Jones and Westfield Pitt Street as well as some of Sydney's best restaurants, bars,&nbsp;pubs, theatres, museums, art galleries, and parks.

Residents will be able to access the newly opened Sydney Metro Gadigal Station, located within a block from Sydney House. This station provides connectivity to Martin Place (one min), Barangaroo (three mins) and North Sydney (11 mins) as well as Chatswood and Macquarie University through to Castle Hill and Norwest. With services every four minutes during peak times, the Sydney Metro provides the ultimate convenience with 21 stations from Tallawong to Sydenham.

One of Sydney’s leading residential construction companies, particularly in premium off the plan luxury residences, Richard Crookes Constructions, will complete the project in late 2027.&nbsp;

Price guides at Sydney House include one-bedroom apartments from $1.5 million, two-bedroom apartments from $2.3 million and three-bedroom apartments from $5 million.

[smartcode_project_cta:default project_id=12428]

Set to bring next level luxury to Sydney CBD’s prestige property market

Buyers set for first chance at Sydney House, Sydney CBD's newest landmark tower development

Joint venture partners&nbsp;<a href="https://www.apartments.com.au/developers/amalgamated-property-group">Amalgamated Property Group</a>&nbsp;(APG)&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developers/base-developments">Base Developments</a>&nbsp;have kicked off construction&nbsp;on its second Gold Coast apartment tower, Affinity Broadbeach, which is due for completion in early 2028.

More than 50 per cent of the 180 two- and three-bedroom apartments have sold, with buyers particularly impressed by&nbsp;the spacious and functional floor plans, close proximity to the beach, premium inclusions, and expansive resort-style amenities.

APG has just released a new limited collection of three-bedroom skyhomes with three living rooms and four bathrooms.

[smartcode_project:default project_id=107690 project_image_fid=323744]

Graham Potts, Principal and Founding Director Amalgamated Property Group, said the strong demand for <a href="https://www.apartments.com.au/new-apartments/affinity-broadbeach-40-46-chelsea-avenue-broadbeach-qld-4218">Affinity Broadbeach</a> highlights a genuine need for affordable luxury residential developments on the Gold Coast.&nbsp;

“It’s exciting to see construction kick off on this sought-after project which is set to create a new benchmark in luxe coastal living on the Gold Coast," Potts said.

"Buyers are attracted by the seamless blend of convenience and elegance that Affinity offers, together with the knowledge that our 20-years of industry experience ensures we continue to deliver homes to the same high standards our reputation has been built on."

Capital Construction Queensland, the inhouse construction arm of APG, is handling the building. Potts says having the internal build capability provides buyers with confidence in delivering a high-quality building, referencing Amaya Broadbeach which is nearing completion nearby.

[smartcode_project:default project_id=107690 project_image_fid=323199]

Carly Cottam, CEO of <a href="https://www.apartments.com.au/project-marketer/motiv">MOTIV</a> Group which is selling Affinity, says there's a clear undersupply of property across Southeast Queensland and an even greater shortage of well-designed, spacious residences.

"That’s why Affinity has attracted such strong demand," Cottam says.

"Every detail, from the intricate finishes to the intelligent spatial planning, has been crafted for the discerning owner-occupier. Beyond the residences, the amenity is designed as a true extension of the home."

&nbsp;

[smartcode_project:default project_id=107690 project_image_fid=6678]

Affinity’s superior amenities are resonating with buyers who are impressed by the range on offer, from the expansive outdoor heated pool, to the state-of-the-art gym, steam and sauna facilities, outdoor entertaining terraces, and a business centre.

"The offering reflects exactly what buyers are seeking when right-sizing or upgrading - spacious residences complemented by curated residential amenity, all within moments of the beach and vibrant retail and dining precincts,” Cottam added.

[smartcode_project:default project_id=107690 project_image_fid=6676]

Dennis Milin, Principal of Base Developments and Milin Builders, and Director of Capital Constructions Queensland, said the team is excited to deliver another collection of premium homes in the heart of Broadbeach.

"With more than three decades of proven success in construction and development, our award-winning portfolio across the ACT and NSW speaks for itself, now further demonstrated by the strong progress at Amaya Broadbeach on First Avenue in Queensland,"&nbsp;Milin said.

“In partnership with a highly regarded team of designers, engineers and trades, and supported by our experienced Gold Coast construction professionals, we remain committed to delivering projects defined by quality, timeless design and uncompromising standards."

Early works at Affinity are already advancing, with guide walls for shoring and bulk excavation underway.

[smartcode_project:default project_id=107690 project_image_fid=323196]

With a proven track record in large premium projects, APG has been developing residential and commercial property across Australia for more than 20 years. APG and Base Developments are the same duo behind the successful Amaya Broadbeach, currently under construction on First Avenue and due for completion in early 2026, as well as a number of other successful joint developments in Canberra, including Botanical in Turner, Kiara in Narrabundah, Ivy in Woden, and the three-tower Oaks precinct in Phillip.

APG is currently building The Eastbourne, 349 homes, a premium office building, and a retail and dining precinct at ANZAC Park East.

[smartcode_project_cta:default project_id=107690]

Amalgamated Property Group and Base kick off construction at Affinity Broadbeach

Roy Morgan

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A large majority of Victorians approve of the way Premier Daniel Andrews is handling his job, according to a Roy Morgan Snap SMS survey on Victoria’s Stage 4 restrictions.
However, 76 per cent said the Victorian government should compensate small businesses not forced to close.
The current restrictions will continue until the end of September, with a longer roadmap keeping many businesses closed throughout October.
The survey asked respondents three questions from a pool of six to determine their attitudes towards the current government directives.
According to the results, only 38 per cent of Melbournians say the night-time curfew in Melbourne should end now, compared to only 31 per cent of country Victorians.
Over 80 per cent of respondents who identified with the ALP and Greens parties, supported Andrews’ handling, whilst only 43 per cent of L-NP approving of his leadership.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-10%20at%202.11.03%20pm.png" alt="">
L-NP supporters also favoured ending the restrictions, with 51 per cent saying Melbourne restaurants should be able to provide table services.
Only 26 per cent of ALP supporters agreed, preferring to keep restrictions as they are.
The survey was conducted on Tuesday, September 8, with a Victoria-wide cross-section of 2,325 Victorians.
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Majority of Victorians approve of the Premier's handling of his job: Roy Morgan

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An estimated 828,000 mortgage holders were in ‘mortgage stress’ as Australia entered shutdown in March, according to new research from Roy Morgan.
This equates to roughly 18.2% of all mortgage holders, and  is a significant improvement on those considered to be in mortgage stress 12 months ago and represents the second-lowest level of mortgage stress in over a decade.
The findings were part of Roy Morgan’s latest Single Source Survey, which is based on in-depth interviews conducted with 50,000 Australians each year, including over 10,000 owner-occupied mortgage-holders.
The strong employment market leading up to the COVID-19 related shutdown in mid-March had kept incomes strong while at the same time the decline in interest rates to record lows over the past year has reduced mortgage repayments for many mortgage holders.
A large concern for Australia’s banks will be the impact of COVID-19 on the employment market.
Just over 2-in-3 mortgages rely on more than one income and the mortgage risk is typically very low for these mortgages.
The biggest driver of increased mortgage stress is a sudden drop in income – most often caused by the loss of a job and analysis shows that the impact of the loss of one income quadruples the level of risk for these mortgage holders.
Even a reduction in work caused by being stood down, or cuts to work hours, can have an effect.
A special survey undertaken by Roy Morgan shows that 10.5 million Australians have already reported a change to their employment status caused by COVID-19.
These impacts include having work hours reduced, being stood down, not having any work offered, being made redundant or having pay reduced for working the same number of hours – all of which clearly have a negative impact on income.
The proportion of mortgage holders classified as ‘At Risk’, or ‘Extremely at Risk’, is down on a year ago but those classified as ‘Extremely at Risk’ have increased after hitting a low in October.
In the three months to March 2020, 18.2% of mortgage holders were ‘At Risk’ (828,000), which is down from 21.5% (903,000) in March 2019.
Over the same period those ‘Extremely at Risk’ also decreased from 14.5% (594,000) to 12.6% (559,000), a drop of 35,000.
However, the number ‘Extremely at Risk’ hit a low of only 425,000 (10.7%) in October, following an RBA interest rate cut, and has since increased.
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Almost 20% of all mortgage holders suffered ‘mortgage stress' during March: Roy Morgan

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EXPERT OBSERVER
Strong jobs growth over the last year has helped drive down both unemployment and under-employment, however over 2 million Australians are still looking for work or looking for more work
Our data shows real unemployment and under-employment is at 2.17 million in September, representing 15.7% of the workforce. This marks a significant improvement over the last year with the measure declining 2.1% points following strong full-time jobs growth.
However, despite these positive signs, real unemployment and under-employment has now marked four straight years above 2 million, stretching back to September 2015 (1.99 million – 15.6%).
The interest rate cuts in June and July as well as significant income tax cuts legislated in recent months appear to have stabilised the economy after a rough start to 2019. The RBA’s decision to cut interest rates to a record low of only 0.75% in October will also provide additional stimulus.
<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/2019/10/15/Roy%20Morgan%20underemployment.jpg" alt="">
It’s also worth noting the RBA doesn’t have much room for further interest rate cuts in the remainder of this year and heading into 2020. There are several candidates to increase economic uncertainty in the next few months include the US-China trade war, a messy Brexit ‘divorce deal’ between the UK and the EU or even a risk of conflict in the Middle East.
If any of these were to escalate over the next year, the RBA, as well as the Federal Government, would have to consider more unconventional means to ensure the Australian economy keeps growing and providing jobs for an increasing population.  
Michele Levine is the CEO of Roy Morgan.
Roy Morgan employment series September highlights
In September 1.2 million Australians were unemployed (8.7% of the workforce) with an additional 970,000 (7.0%) now under-employed.
- The workforce, which comprises employed Australians and those who are unemployed and looking for work, has increased year-on-year by 416,000 to 13,836,000. The increasing workforce was driven entirely by an increase in full-time employment as unemployment and part-time employment fell;
- Employment was up 470,000 to 12,634,000 in September 2019 – the rise in employment was driven by a significant increase in full-time employment of 773,000 to 8,467,000. However, over the past year part-time employment has declined by 303,000 to 4,167,000;
- Unemployment was down 54,000 on a year ago to 1,202,000 Australians and the unemployment rate is down by 0.7% to 8.7%. In addition under-employment is down by 155,000 to 972,000 Australians (down 1.4% to 7% of the workforce) over the past year which includes Australians working part-time and looking for more work;
- Roy Morgan’s unemployment figure of 8.7% for August is higher than the <a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=FcQ5do3Mtm%2F2JnP%2FxXFcY%2BL9mOkU%2Fad4G7kfqxVfSdkEEq1vNf2gyySaRFEPQL1%2Bi9ipkiUFRCKm00AkHYvGhrLiJHyUZ39UtsXT8roOnEVDSeYCVw9OJsMaR7qoClmuQ7FnqRmFIc4%3D&amp;G=0&amp;R=http%3A%2F%2Fabs.gov.au%2FAUSSTATS%2Fabs%40.nsf%2Fmf%2F6202.0%3Fopendocument&amp;I=20191015051433.0000007b2c8f%40mail6-41-usnbn1&amp;X=MHwxMDQ2NzU4OjVkYTU1MDBkYTM0NmMyNzhmNzA2MTM0Yzs%3D&amp;S=2jyKXPgq0a5bJjyFUSJjaEuGst94S_XP0LIhm9ZcBTo" target="_blank">current ABS estimate for August 2019 of 5.3%</a>, although the gap between the two measures is closer than usual. Roy Morgan’s under-employment estimate of 7% is now slightly below the current <a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=FcQ5do3Mtm%2F2JnP%2FxXFcY%2BL9mOkU%2Fad4G7kfqxVfSdkEEq1vNf2gyySaRFEPQL1%2Bi9ipkiUFRCKm00AkHYvGhrLiJHyUZ39UtsXT8roOnEVDSeYCVw9OJsMaR7qoClmuQ7FnqRmFIc4%3D&amp;G=0&amp;R=http%3A%2F%2Fwww.abs.gov.au%2Fausstats%2Fabs%40.nsf%2Fmf%2F6202.0%3Fopendocument%26ref%3DHPKI&amp;I=20191015051433.0000007b2c8f%40mail6-41-usnbn1&amp;X=MHwxMDQ2NzU4OjVkYTU1MDBkYTM0NmMyNzhmNzA2MTM0Yzs%3D&amp;S=K2aAgJimDljPFdUm4K9Tzu-E-I2U2LeVVHjAVLbQK5Y" target="_blank">ABS under-employment estimate of 8.6%</a>;
- Roy Morgan’s total unemployment and under-employment of 2,174,000 Australians (15.7% of the workforce) in September, down 209,000 on a year ago, is larger than figures usually proffered, but the biennial ABS survey the ‘<a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=FcQ5do3Mtm%2F2JnP%2FxXFcY%2BL9mOkU%2Fad4G7kfqxVfSdkEEq1vNf2gyySaRFEPQL1%2Bi9ipkiUFRCKm00AkHYvGhrLiJHyUZ39UtsXT8roOnEVDSeYCVw9OJsMaR7qoClmuQ7FnqRmFIc4%3D&amp;G=0&amp;R=https%3A%2F%2Fwww.abs.gov.au%2Fausstats%2Fabs%40.nsf%2Fmf%2F6239.0&amp;I=20191015051433.0000007b2c8f%40mail6-41-usnbn1&amp;X=MHwxMDQ2NzU4OjVkYTU1MDBkYTM0NmMyNzhmNzA2MTM0Yzs%3D&amp;S=VJo-K5kqz77QZOCYbmpq7jLLG35UQYMJf8Bh1cULqb8" target="_blank">Barriers and Incentives to Labour Force Participation</a>’ last released in 2017 claims a much higher figure of 2.7 million Australians would like a job or to work more hours – including 1.1 million people the ABS said wanted a job but are excluded from the Labour Force.
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Real unemployment and under-employment stuck above two million: Roy Morgan

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The value of assets held by Australians has almost doubled over a 12 year period, a new report has found. 
From 2007 to 2019, asset values are up 96%, while debt has increased by 78.6% over the same period, according to the <a id="LPlnk178519" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=btYXC68syxmDVppbhVzFoYHdeMNV9070xvOlf%2FNdDQ0wXj6aidRhm%2BU%2B3pvvHdsrpvIIhgT9m2JwAuxVME0Zp2SQWJMw%2Fl0vyvX5XpPY4CpJ8TwkzTJoFeV9rdYJuyfe%2FYEc7gWVJ%2B0%3D&amp;G=0&amp;R=https%3A%2F%2Fstore.roymorgan.com%2Fproduct%2FRoy-Morgan-Wealth-Report-13397&amp;I=20190711015504.00000194d375%40mail6-114-ussnn1&amp;X=MHwxMDQ2NzU4OjVkMjU4OWEyYzVkZmE3ZjMyZjJjYTFiZTs%3D&amp;S=iwIWS64fklsraWL5xgm3auOxsrFdtkaHt3FvSlv0LBQ" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Roy Morgan Wealth Report</a>. 
Over this period, which covers the period from just before the start of the global financial crisis, net wealth has increased by 98.7%.
Even after accounting for population growth and inflation, the average Australian is better off, the report said. 
The report is drawn from over half a million in-depth face-to-face interviews conducted in Australians’ homes over the period from 2007 to 2019.
The second edition of the Wealth Report focuses how net wealth has changed since just before the onset of the global financial crisis.
Australia performed very strongly over the past 12 years compared with other OECD nations – particularly in Europe where many nations went backwards over the same period, it said. 
Key findings of the report include:
<ul>
<li>The value of assets held by Australians has almost doubled from 2007 to 2019 (up 96.0%). This is faster than the increase in debt of 78.6% over the same period. As a result net wealth is now 98.7% higher in 2019 than it was in 2007. 
</li>
<li>Average per capita net wealth in real terms (adjusted for inflation), is 28.0% higher than it was in 2007 just before the onset of the global financial crisis. 
</li>
<li>Median net worth per capita in 2007 was only $124,000, rising to $135,900, up 8.8% after allowing for inflation. The median value is a more representative metric in such a highly skewed market, as 50% are above it and 50% below, it is the central value. 
</li>
<li>Women have improved their average net wealth position relative to men, with males now holding an average of 12.3% more wealth than women, while in 2007, they had a much higher 27.4% advantage. 
</li>
<li>Roughly half Australia’s personal wealth continues to be held in the form of owner occupied housing (49.8%), down slightly from 51.6% in 2007, while superannuation assets make up an increasingly higher portion, rising from 19.2% to 24.4% of our wealth since 2007. 
</li>
<li>The following chart shows that the average personal assets are now worth 8.1 times average debts, compared with 7.4 times debts in 2007. </li>
</ul>
Assets have grown faster than debt
<a href="https://www.propertyobserver.com.au/images/2019/7/11/roy%20morgan.png" target="_blank">Click here</a> to enlarge:
<img src="https://www.urban.com.au/images/2019/7/11/roy%20morgan.png" alt="">
 
Source: Roy Morgan Single Source (Australia) 12 months to March 2019, n = 51,362; 12 months to December 2007, n = 54,212. Base: Australians 14+.
"We see daily headlines about the risks posed by high levels of debt and falling property values, but when we drill down into the data, a more balanced long term picture emerges," said Michele Levine, the CEO of Roy Morgan.
"Although the last 12 months has seen a marginal decline in household net worth, it is important to understand it in the context of the long term trend. What we have seen here is a very positive long term trend.
"Housing debt has grown considerably since 2007, but not uniformly - Roy Morgan’s data shows wealthier cohorts have shown a much greater propensity to take on debt and those investors have more ability to handle downturns than more marginal borrowers in lower-wealth segments.
"A more detailed understanding of how debt and personal wealth are distributed can help dispel some of the more simplistic fears over debt, and give a more balanced view of its relationship to wealth creation in Australia over the long term."
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Australians’ net wealth has nearly doubled since GFC: Roy Morgan Wealth Report 

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Consumer satisfaction at the four major banks increased marginally during April, taking the current levels well above the long-term average.
The latest Roy Morgan research polled more than 50,000 consumers and found that consumer satisfaction with the big four was at 80.1% in the six months prior to April.
The small increase of 0.3% from the same period in 2016.
It sits above the long-term average of 74.9% recorded since 2005.
However, home loan customers are less satisfied with levels sitting at 78% compared to 80.5% for other types of customers.
Home loan customers at CBA experienced the highest satisfaction levels at 78.8%. This was followed by Westpac (78.5%), NAB (77.3%) and ANZ (77.0%). The biggest improvement in this area was for ANZ (up 1.0%) and NAB (up 0.9%).
Over the past year, the big banks have closed this gap marginally, researchers found.
Amongst the big four banks, consumer satisfaction levels are as follows:
<ul>
<li>Commonwealth Bank of Australia (CBA): 81.4%</li>
<li>National Australia Bank (NAB): 80.2%</li>
<li>Australia &amp; New Zealand Banking Group (ANZ): 78.7%</li>
<li>Westpac: 78.1%</li>
</ul>
Westpac experienced the largest improvement in April, Australian Broker noted, moving up 0.7% as a result of increases in scores for both home loan and non-home loan customers.
For non-home loan customers, CBA again leads at 81.9%. This is followed by NAB (81.0%), ANZ (79.1%) and Westpac (78.0%).
“Roy Morgan data shows that customer satisfaction with the big four banks remains well above their long term average and after trending up strongly for more than a decade, for the last two years it has plateaued rather than showing any real signs of declining,” said Norman Morris, industry communications director at Roy Morgan Research.
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