Gold Coast property professionals Jared Johnson and Zac Potter have teamed up to launch their debut property development, Basalt Lane, a boutique collection of architecturally designed warehouse units set to rise in Tweed Heads South.

Potter, a proven developer in his own right, is the founder of 21 Property Group and son of respected developer John Potter, while Johnson, director of leading commercial real estate agency Coastal Commercial, has been involved in hundreds of high-profile industrial transactions across South-East Queensland and Northern NSW.&nbsp;

Located at 80–82 Industry Drive, Basalt Lane will feature just eight premium warehouse units with flexible low-impact zoning, rare dual street access, and sleek, contemporary finishes not often seen in the Industrial sector. Construction is scheduled to commence in Q4 2025.

“This joint venture made sense from day one,” says Johnson, who is spearheading the sales campaign.

“Zac brings proven development experience, and I have a strong grasp of the local industrial market through years of commercial sales in the area. By combining our strengths, we saw an opportunity not just for ourselves — but to deliver something the local community genuinely needs. There’s a clear demand for modern, flexible, and flood-free industrial spaces in this region, and Basalt Lane is our answer to that.”

Strategically positioned just 700 metres from the M1 Motorway and under 10 minutes from Gold Coast Airport, the project offers high appeal for investors, small business owners looking for a coastal work base with premium connectivity or a secure storage solution.

The launch of Basalt Lane comes amid a surge in industrial development across the Tweed region. According to Tweed Shire Council, the area is undergoing major transformation, including the Industry Central Land Swap, a government-backed initiative relocating flood-affected businesses to higher ground. The $11.3 million program is creating modern, job-generating industrial hubs built for long-term resilience.

Projects like Quarry Business Park, also marketed through Johnson’s Coastal Commercial — are also breaking ground in 2025 — highlight the growing demand for flood-free, future-proof industrial space in one of Australia’s fastest-growing regional economies.

“We’re proud to be contributing to the next chapter of growth here,” said Potter. “Basalt Lane is a long-term play — it’s designed to deliver value now and remain relevant for years to come.”

The project responds to broader market trends, including the rise of flexible “co-warehousing”, demand for hybrid industrial-office spaces, and growing interest in regional coworking hubs. With Australia’s coworking sector forecast to grow at 23.6% CAGR to 2030, and similar small-scale developments selling out in major cities, Basalt Lane offers a timely, lifestyle-forward business solution.

Potter and Johnson bring years of experience across real estate and development throughout the Gold Coast and Northern Rivers corridor. For them, Basalt Lane represents more than just a business move — it’s a personal milestone.

“There’s no big fund behind us. We’re not a national group,” said Potter. “We’re two mates with experience and vision and we’re having a go.”

With limited supply and rising demand, Basalt Lane is expected to attract strong early interest from entrepreneurs, trade-based businesses, owner-occupiers, and investors seeking solid long-term returns in a high-growth coastal hub.

Jared Johnson and Zac Potter, have teamed up to launch their debut property development: Basalt Lane, Tweed Heads - a boutique collection of architecturally designed warehouse units set to rise in Tweed Heads South.

Urban Editorial

Gold Coast entrepreneurs launch premium industrial project in booming Tweed Heads South

Enfield may be home to fewer than 3,000 residents, but its prime location between Strathfield and Burwood has cemented its status as one of the Inner West’s hidden gems.

The suburb offers a village-style lifestyle with an abundance of cafés, restaurants, and boutique shops, staples of Inner West living.

At the last census, there were only around 300 apartments in the suburb. Fewer than a handful of new apartment developments have been delivered in recent years, but none are as well positioned as The Carlyle, just a three-minute walk to Henley Park, arguably one of the best parks in the area.

<a href="https://www.apartments.com.au/new-apartments/the-carlyle-enfield-164-liverpool-rd-enfield-nsw-2136">The Carlyle</a> will comprise 32 one- and two-bedroom apartments, a mix rarely seen in the new development market across Sydney.

[smartcode_project:default project_id=148733 project_image_fid=6667]

<a href="https://www.apartments.com.au/project-marketer/ray-white-projects-western-sydney">Ray White Projects WS</a>&nbsp;is fielding enquiry from several buyer types.

"First home buyers are realising this is the best time to get into the market," says Mark Bernberg, <a href="https://www.apartments.com.au/project-marketer/ray-white-projects-western-sydney">Ray White Projects WS</a>&nbsp;Managing Director.

"There are now several government incentives assisting first home buyers to get onto the property ladder. The recent announcement to waive lender's mortgage insurance for those with low deposits puts tens of thousands back in their pockets. Pair that with stamp duty savings in the new apartment space, and there has never been a better time to be a first home buyer in the off the plan apartment market."

Bernberg has also seen a re-emergence of investors, attracted to the low supply of apartments in Enfield and the suburb's lifestyle, while also being on the fringe of Burwood, which is set to undergo a huge transformation with its recent rezoning around the new metro station.

"That will bring a wealth of new retail and amenity to the area, which tends to drive prices higher," Bernberg says.

"Rents are at record highs, and with interest rates coming down from the highs earlier this year, investment apartments are starting to stack up again financially."

[smartcode_project:default project_id=148733 project_image_fid=6665]

The Carlyle apartments will sit above doorstep amenity, with a two-level retail podium incorporated into the striking building. The retail component will include a new ground-floor café facing Carlyle Street.

Two-bedroom apartments range from 67 sqm to 83 sqm internally, with some of the larger residences on the top level featuring expansive wraparound balconies. These layouts are designed to enhance seamless indoor-outdoor living, maximising natural light and views.

[smartcode_project:default project_id=148733 project_image_fid=6666]

The Carlyle's proximity to Henley Park is one of its biggest drawcards. The 13-hectare park includes multiple sports fields, two fenced playgrounds designed for various age groups, and Enfield Aquatic Centre, complete with Olympic-sized swimming pool.

The Carlyle is on track to welcome residents in early 2026.

[smartcode_project_cta:default project_id=6667]

Joel Robinson

The Carlyle in Enfield launches to undersupplied Inner West market

A new Metro stop, a thriving café scene, and proximity to village-style retail have cemented St Leonards as one of the Lower North Shore’s most sought-after suburbs for new development.

Among those seizing the opportunity is Sekisui House Australia, which has chosen this prized pocket, in the St Leonards South precinct, for its first-ever inner-city apartment project, <a href="https://www.apartments.com.au/new-apartments/waterstone-st-leonards-24-berry-road-st-leonards-nsw-2065">Waterstone</a>.

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Set for completion in the summer of 2027, Waterstone comprises 207 apartments across five buildings, designed to look south back to the&nbsp;Sydney&nbsp;CBD.&nbsp;The new project offers residents the rare balance of connected urban living and tranquil green surrounds.

Just moments from home lies Smoothey Park, a blend of natural bushland and manicured parkland. It forms part of the Wollstonecraft cluster of reserves, including Gore Cove, Badangi Reserve, and Berry Island, all offering peaceful escapes on the Harbour’s edge.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KCD5mtyKBjc?si=DcC6Koxg6shdDFzq" title="YouTube video player" width="560"></iframe>

When it comes to lifestyle, St Leonards and its neighbouring suburbs, Crows Nest, Waverton, Greenwich, and Wollstonecraft, deliver an endless array of cafés, restaurants, and boutique retailers. Nearby Mall 88, only 650 metres from Waterstone, adds convenience with over 30 specialty stores.

Connectivity is another major drawcard. The new Crows Nest Metro Station is just one kilometre away, while St Leonards Train Station is a short seven-minute walk. For a more scenic commute, the Greenwich Point Wharf ferry reaches Circular Quay in under 30 minutes.

[smartcode_project:default project_id=134191 project_image_fid=351953]

For peace of mind, Royal North Shore Hospital, one of Sydney’s most prominent medical hubs, sits just 650 metres away, making Waterstone ideal for healthcare professionals or residents seeking easy access to world-class medical facilities.

Perfectly positioned on the fringe of vibrant activity yet embraced by parkland serenity, Waterstone offers the best of both worlds in Sydney’s evolving Lower North Shore.

[smartcode_project_cta:default project_id=134191]

Nature and connection define life at Waterstone in emerging St Leonards South precinct

A new collection of residences is now available at <a href="https://www.apartments.com.au/new-apartments/sol-by-walker-maroochydore-first-avenue-maroochydore-qld-4558">SOL by Walker</a>, the residential development that continues to take shape within the Maroochydore City Centre.

The second release introduces 137 apartments to the market, adding to the growing community in what is set to become one of South East Queensland’s most significant urban renewal precincts. The new offering includes a mix of one, two and three-bedroom apartments, alongside a limited number of terraces and penthouses designed to suit a range of lifestyle needs.

“SOL represents the beginning of <a href="https://www.apartments.com.au/developments/maroochydore-qld-4558">Maroochydore</a>’s exciting next chapter, redefining expectations around life in this beautiful coastal city,” David Gallant, Chief Executive Officer and Managing Director of <a href="https://www.apartments.com.au/developers/walker-corporation">Walker Corporation</a>, said.

[smartcode_project:default project_id=147777 project_image_fid=319853]

Located on South Sea Islander Way, SOL forms part of the broader vision to deliver a connected and vibrant city heart for the Sunshine Coast. Construction is already underway on the first 19-storey tower, with completion targeted for early 2028. The development is being delivered by Walker in collaboration with Sunshine Coast Council and SunCentral.

SOL’s second stage continues the project’s focus on high-quality apartment living, with access to a suite of resident-only amenities including a rooftop sky terrace, wellness retreat, co-working lounge, gym and landscaped garden spaces.

Interiors by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> combine timeless design with natural materials, generous layouts and panoramic outlooks to the ocean, hinterland and river.&nbsp;

“SOL by Walker establishes a new standard in apartment quality, seamlessly integrating superior craftsmanship with unmatched design,” Danny Juric, Director at Plus Studio, said

[smartcode_project:default project_id=147777 project_image_fid=346899]

Apartments feature open-plan layouts with high ceilings and expansive glazing to enhance natural light and ventilation.&nbsp;

A warm, neutral palette ties together stone benchtops, brushed platinum accents, and sandstone-toned carpet, while large sliding doors connect living areas to generous outdoor spaces.&nbsp;

Kitchens are fitted with integrated Miele appliances, refined cabinetry and thoughtful storage, while bathrooms offer double vanities and oversized showers to balance function and comfort.

As part of the Sunshine Coast’s new CBD, residents will be within walking distance of local retail, dining and green space, with transport connections set to expand as the precinct grows. Once complete, Maroochydore City Centre is expected to deliver thousands of new homes as part of the region’s long-term housing strategy.

[smartcode_project_cta:default project_id=147777]

Second release at SOL by Walker expands residential offering in Maroochydore City Centre

<a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a> has marked the topping out of Prince &amp; Parade in Brunswick, celebrating the completion of the building’s highest point and a major step forward for one of the developer’s landmark Melbourne communities.

The milestone forms part of Mirvac’s strong construction momentum across Victoria, with <a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> and The Albertine both recently reaching structural completion. Together, the two projects will deliver 265 new apartments, contributing to much-needed housing supply in Melbourne’s inner suburbs.

[smartcode_project:default project_id=4802 project_image_fid=3627]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>, Prince &amp; Parade continues a long-standing partnership that has delivered The Melburnian (2002) and The Eastbourne (2019).

The new <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> address comprises a mix of one to four-bedroom residences complemented by extensive amenity, including a residents’ lounge, shared dining room and kitchen, library, yoga room, gym, and rooftop terrace, with landscaping by Jack Merlo and a concierge service.

Construction is rapidly transforming the site, with significant milestones achieved across two buildings, supported by 73 slab pours and six fully constructed building cores. Completion is expected in 2026.

[smartcode_project:default project_id=4802 project_image_fid=269383]

Mirvac’s General Manager, Residential Development Victoria, Elysa Anderson said Prince &amp; Parade has been strongly received by buyers seeking quality design and trusted delivery.

“These communities have been well received, attracting strong interest from downsizers and professionals who value high-quality design, premium locations and the confidence of buying with Mirvac,” Anderson said.

Prince &amp; Parade has also achieved a record-breaking apartment sale in Brunswick, underscoring its design quality and market appeal.

“We’re incredibly proud to see Prince &amp; Parade set a new benchmark for Brunswick. This <a href="https://www.apartments.com.au/news/vic/exclusive-mirvac-breaks-brunswick-record-with-prince-parade-sale">record-breaking sale</a> is a testament to Mirvac’s design excellence, quality craftsmanship, and our strong reputation for delivering high-quality residential communities across the country,” Anderson said.

[smartcode_project_cta:default project_id=4802]

Prince & Parade tops out in Brunswick as Mirvac marks dual Melbourne milestones

Sqm Research

SQM Research has again advised the national residential rental vacancy rate continues to tighten, down at 1.8% from 1.9% in April.

The total number of vacancies Australia-wide now stands at 62,144 residential properties, down from 66,411 in April.&nbsp;

There were 76,600 vacant dwellings last December.

While they remain elevated, the latest fall in vacancy rates included the Sydney CBD down to 6.9% and Melbourne CBD to 8%.

[smartcode_project:default project_id=2905 project_image_fid=162743]

Sydney CBD briefly sat at 16 percent in May last year, and and its 6.9% current rate has only been matched on two prior occasions, briefly in 2019 and 2009.

Melbourne CBD&#39;s vacancy rate peaked last August at close to 11 percent, and its 8% current rate has only been matched on two prior occasions, briefly in 2010 and 2005.

The vacancy rates continuing to fall Australia-wide was &quot;forcing up in rents, particularly in regional locations,&quot; Louis Christopher, the boss of SQM noted.

&quot;This trend is likely to remain through the second half of the year, given the fierce competition for rental accommodation in many areas.&nbsp;

[smartcode_project:default project_id=2929 project_image_fid=137896]

&quot;We are still seeing falling vacancies everywhere from Victoria&rsquo;s Mornington Peninsula, the Gold Coast, right through to inland areas like the Murray Regions of NSW and South Australia to outback Northern Territory, along with Darwin, which is having the effect of boosting rents as tenants compete for rental homes.&nbsp;

&quot;However, vacancies rates rose for the NSW North Coast, as some renters headed back to town and we also saw a rise in vacancy accommodation in Perth, though the rate was unchanged.

&ldquo;In addition, in what is long-awaited news for landlords in the Melbourne and Sydney CBDs, vacancies rates have fallen there too.&nbsp;

[smartcode_project:default project_id=3490 project_image_fid=92411]

&quot;Those vacancy rates could begin a downward trend over the second half of 2021, particularly in Sydney, as life resumes relative normality.&nbsp;

&quot;However, the loss of international student tenants, along with unit oversupply, will keep vacancy rates relatively high as the COVID-19 pandemic continues.&rdquo;

Brisbane&rsquo;s vacancy rate fell to 1.3% in May from 1.4% in April, according to SQM Research.

It is note the tightest of capital cities as Perth, Adelaide, Canberra, Darwin and Hobart all have a vacancy rate below 1.0%.

Melbourne&rsquo;s vacancy rate fell to 3.7% in May from 4.0% in April.

Sydney dropped to 2.9% from 3.1%.&nbsp;

SQM Research calculates the national residential rental vacancy rate fell to 1.8% during from 1.9% in April

jchancellor

Sydney and Melbourne CBD landlords see further improvement in vacancy rates: SQM

Suburban vacancy rates continue to fall, according to new SQM Research data revealed Tuesday.

The Australian investment research house recorded a 0.2 per cent drop in the national residential rental vacancy rate over the month of April, falling to 1.9 per cent from 2.1 per cent in March.

<figure><img alt="" class="image-article-full-width-580px" height="263" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/vacancy_rates.png?itok=K3RQjn1f" title="Vacancy Rates - April 2021" width="580" />

<figcaption>Vacancy Rates - April 2021</figcaption>
</figure>

Melbourne&rsquo;s vacancy rate fell to 4.0 per cent in April from 4.4 per cent, while in Sydney it dropped to 3.1 per cent from 3.4 per cent.

In Adelaide, Canberra and Hobart, the vacancy rate remained below 1.0 per cent, while Brisbane&rsquo;s fell to 1.4 per cent.

&ldquo;Along with the smaller capitals, Brisbane&rsquo;s vacancy rate has become extremely tight and so we are expecting a surge in rents for the city this year&rdquo;, Christopher said.

[smartcode_project:default project_id=26734 project_image_fid=153694]

Vacancy rates in Perth and Darwin saw the most significant drop over the year, with rates falling 1.3 per cent and 1.1 per cent, respectively.

Rents have also jumped in these smaller cities, a trend that SQM managing director Louis Christopher believes we could see continue given the recent commodities boom for iron ore and other base metals.

<figure><img alt="" class="image-article-full-width-580px" height="560" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/asking_prices.png?itok=xko1lk5t" title="Weekly Rents Index - 11 May 2021" width="580" />

<figcaption>Weekly Rents Index - 11 May 2021</figcaption>
</figure>

&ldquo;Demand for rental accommodations is still outstripping supply, which is having the effect of boosting rents in many locations and unaffordable to lower income tenants&rdquo;, Christopher said.

In some locations, including the Gold Coast and New South Wales&rsquo; North Coast, landlords are demanding huge rent hikes, with asking rents soaring 32 per cent for houses on the Gold Coast over the year.

[smartcode_project:default project_id=22057 project_image_fid=150842]

This surge has occurred as people migrate out of the big capital cities and move to regional and warmer locations, as well as the number of occupiers per dwelling fall, the research revealed.

&ldquo;People are also looking for larger properties as they work from home and not wishing to live together.&rdquo;

In contrast, rates for Melbourne and Sydney CBDs remain elevated with the loss of international student tenants combined with apartment oversupply.

These were among the only areas recording rises in vacancy rates, excluding Sydney&rsquo;s Liverpool.

As a result of demand outstripping supply, some locations, including the Gold Coast, are seeing asking rents soaring 32 per cent over the year

max.kwok_55688

National residential vacancy rates continue to fall: SQM Research

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Vacancies have remained high in Melbourne, according to SQM Research's national residential rental vacancy report for February.

"Melbourne remains weighed down by underwhelming demand for rental accommodation," said Louis Christopher, managing director of SQM Research.

Melbourne’s vacancy rate rose from 4.4% to 4.5%

It was down from the 4.7% last December, which was the highest level since SQM Research started measuring data in 2005. 

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.

<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">

The inner Melbourne CBD vacancy rate stands at 7.5%, down from 9.4% last October.

Sydney’s overall vacancy rate rose 0.1% to 3.3%. 

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. 

Elsewhere, in Perth, Adelaide, Canberra, Darwin and Hobart, the vacancy rate was below 1%.

Brisbane’s vacancy rate also remained tight, down to 1.5% in February from January 2021.

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.

"The figures for Melbourne and Sydney would be disappointing for existing property investors," Christopher said.

"Normally, vacancy rates in these two cities fall over February, in part due to international students starting their semesters.

"But given the ongoing closure of the international border, the seasonal increase in rental demand has not occurred this year. 

"This year will favour tenants in the inner cities but will also very much remain a landlord’s market in regional Australia.

“Elsewhere, we are still recording strong interest from tenants in larger properties in outer suburban locations as well as wider regional Australia. 

'Investment property owners in Darwin or Perth have also enjoyed a strong year of rental returns.”

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. 

Reflecting accommodation oversupply, Melbourne and Sydney unit asking rents fell by 1.4% and 0.4%, respectively over the past month.

House rents also fell in Sydney by 1.2% while Melbourne house asking rents were flat. 

<h2>Recently listed VIC properties:</h2>

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[smartcode_project:default project_id=26935]

[smartcode_project:default project_id=29909]

 
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Melbourne also posted a 12% drop in asking unit asking rents over the year to March 2021

Melbourne rental vacancies remain high given international student absence: SQM

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Overall national residential property listings decreased in February 2021 by 2.7%, to stand at 257,952 listings, according to figures released by SQM Research.

It despite 76,430 new listings being added into stock. "Buyers are absorbing listings at a quicker pace than currently being added into the market," SQM's Louis Christopher noted.

Compared to last February, listings are down by 13%. The largest 2021 monthly decrease were in Adelaide, Brisbane and Perth, and compared to a year earlier, listings fell the most in Hobart and Adelaide.

<img alt="" height="532" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/total_listings_sqm.jpg" width="1200">

Only Melbourne recorded a year on year increase in listings. SQM advised listings over 180 days fell 8.5% for the month and are down 26.7% compare to this time, last year.

"Right now demand is swamping supply," Christopher, the SQM managing director said.

"And no where more is this the case than regional Australia. “Still, the big test is to come when JobKeeper ends at the end of this month. "If there is no evidence of a material fall in clearance rates over April, then nothing is going to stop the market until the day APRA steps to regulate lending in or we have a rate hike from the Reserve Bank,” Christopher said.
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Figures released by SQM Research reveal national residential property listings decreased in February 2021 by 2.7%, to stand at 257,952 listings.

February residential listings jump, but buyer demand sees total in decline: SQM

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SQM Research has calculated the national residential rental vacancy rate decreased sightly in January, with all mainland capital cities recording falls in vacancies in January.

SQM Research noted that there are now less vacancies compared to last January – just prior to the first outbreak of Covid-19 in Australia. 

But CBD rental vacancy rates in both Sydney and Melbourne remain elevated, despite recent falls. 

Melbourne’s overall vacancy rate decreased from 4.7% in December 2020 to stand at 4.4%,  the highest vacancy rate for any of the capitals.

This time last year, Melbourne’s vacancy rate was low at 2.1%. 

Sydney also recorded a fall in vacancies over January with the rental vacancy rate sitting at 3.2%, assisted by sharp falls in the CBD rental market where vacancy rates are down to 6.2% after being as high as 16% in May last year. 

“We remain of the view that there will not be a complete reversal of the sharp rise in rental vacancy rates experienced in these locations,” SQM’s Louis Christopher said.

“Demand for inner city property will remain affected by the closure of the international border as well as ongoing caution on future city lockdowns. 

“This will mean 2021 will remain largely a tenant’s market in the inner cities but will also very much remain a landlord’s market for regional Australia.” 

<img alt="" height="592" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sqm_vacancy_rates.jpg" width="1200">

Landlords in capital city are seeking slightly higher asking rents, up 0.7% for both houses and units to $552 per week for houses and $413 per week for units.  

Sydney had the highest increase of 3.2% in asking rents for houses and 2.2% in unit asking rents.  

“This is the first significant rise for Sydney since February 2020,” SQM’s Louis Christopher who pointed out 12-month rents are still in the negative by 6.3% (houses) and 8.9% (units) respectively. 

Melbourne continued to record declines in both house and unit asking rents over the month, falling by 0.1% and 0.4% respectively.  Interestingly, rents slightly rose in the CBD for units, a sign that the worse could be over for CBD landlords. 

Canberra recorded increases in house rents of 2.8% and unit rents increased by 2.7%. Perth house and unit rents also increased over the month.  

<img alt="" height="1011" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sqm_weekly_rents.jpg" width="1200">

 
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Find out what happened to the national vacancy rate in January

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SQM Research has calculated national residential property listings decreased in January by 2.9%, falling from 272,999 in December 2020 to 265,116. 

Compared to 12 months ago, listings were down by 10.5%.

All capital cities experienced seasonal decreases in property listings over the month except for Perth which had a 0.1% increase in listings.  

The largest decrease was in Melbourne of 4.7%.

Year-on-year listings also show larger declines for most capital cities with the exception of Sydney and Melbourne, both recording increases of 4.5% and 21%, respectively.

Nationally, new listings (over the past 30 days) decreased by a 24% over the course of January with 16,234 less properties on the market. 

Hobart’s new listings decreased by a significant 33.28%, followed by Canberra which decreased by 26%.  Sydney recorded the lowest decrease in new listings of 2%.

The month of January traditionally records falls in properties listed for sale as the market is still in a summer holiday mode. SQM’s Louis Christopher said.

“This year was no exception. 

“However, when we consider the number of new listings compared to January 2020, there was a material rise in nearly all cities.

“This finding is consistent with the observed early start to the auction market over January and February,” he added.
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Property listings decline in January: SQM Research

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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%.

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.

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%.

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.

<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>Source: SQM Research</figcaption></figure><h2>Asking Rents</h2>

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.

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.

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.

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.

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.

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.

" 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.
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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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The traditional Christmas property listing decline saw listings fall -7.9 per cent over December, down from 296,267 in November to 272,999, figures released by SQM Research show.

Sydney drove the decline, down -18.3 per cent, although their 26,038 total listings in December 2020 was 13.8 per cent higher than it was in December 19 (22,888).

Listings in Melbourne were a huge 30.5 per cent higher than in December 2020 compared to 2019. They have 39,475 listings on the market compared to 30,247 12 months ago.

New listings were unsurprisingly down by 17 per cent nationally in December, with 13,680 less new properties listed for sale.

<img alt="" height="564" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sqm_december_listings.jpg" width="1200">

Sydney’s new listings decreased by 41.8 per cent followed by Melbourne which decreased by 27.1 per cent. 

Hobart was the only capital city that recorded an increase in new listings of 0.8 per cent.

Louis Christopher, managing director of SQM Research said it's no surprise to see listings decline at this time of the year.

“The month of December traditionally records falls in properties listed for sale as it is the start of the festive and summer holiday period," Christopher says, adding however that activity was strong all the way through to the last weekend before Christmas.

He said this was unusual and likely reflected a degree of catch up from the property inspection restrictions earlier in the year.

"Going forward I believe listings activity is going to remain strong in early 2021 but could weaken on the wind up of Job Keeper in March 2021.

"We believe Job Keeper has provided support to the market over 2020.”

 

 
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New listings were down by 17 per cent nationally in December, with 13,680 less new properties listed for sale.

Property listings tail off in December, but activity strong through to Christmas: SQM Research

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The national residential rental vacancy rate remained stable at 2.1 per cent over the month of November, SQM Research revealed Tuesday.  

The month of November ended with the total number of vacancies Australia-wide now at 78,879, with the vacancy rate slightly below the same time last year at 2.2 per cent.

Capital city vacancy rates remained stable over the month, with the exception of Sydney and Brisbane, which recorded a 0.1 per cent and 0.2 per cent decrease, respectively.

Sydney saw a minor decrease from 3.6 per cent in October to 3.5 per cent in November.

Melbourne’s vacancy rate – the highest in the nation – remained at 4.4 per cent in November. This time last year, Melbourne’s vacancy rate was at a low 2.2 per cent.

The surplus of rental property is most acute in Melbourne and Sydney’s CBDs, with Melbourne’s vacancy rate standing at 9.1 per cent.

Sydney CBD vacancy rate peaked at 16.2 per cent in May 2020 but has declined to 9.5 per cent in November.

<table border="1" cellpadding="1" cellspacing="1" style="width:500px;"><tbody>
<tr>
<td>City</td>
			<td>NOV 2019 Vacancies</td>
			<td>NOV 2019 Vacancy Rate</td>
			<td>OCT 2020 Vacancies</td>
			<td>OCT 2020 Vacancy Rate</td>
			<td>NOV 2020 Vacancies</td>
			<td>NOV 2020 Vacancy Rate</td>
		</tr>
<tr>
<td>Sydney</td>
			<td>24,258</td>
			<td>3.4%</td>
			<td>26,455</td>
			<td>3.6%</td>
			<td>26,161</td>
			<td>3.5%</td>
		</tr>
<tr>
<td>Melbourne</td>
			<td>12,963</td>
			<td>2.2%</td>
			<td>27,070</td>
			<td>4.4%</td>
			<td>26,946</td>
			<td>4.4%</td>
		</tr>
<tr>
<td>Brisbane</td>
			<td>8,629</td>
			<td>2.5%</td>
			<td>6,912</td>
			<td>2.0%</td>
			<td>6,455</td>
			<td>1.8%</td>
		</tr>
<tr>
<td>Perth</td>
			<td>5,200</td>
			<td>2.5%</td>
			<td>1,936</td>
			<td>0.9%</td>
			<td>1,835</td>
			<td>0.9%</td>
		</tr>
<tr>
<td>Adelaide</td>
			<td>1,896</td>
			<td>1.0%</td>
			<td>1,501</td>
			<td>0.8%</td>
			<td>1,543</td>
			<td>0.8%</td>
		</tr>
<tr>
<td>Canberra</td>
			<td>756</td>
			<td>1.1%</td>
			<td>608</td>
			<td>0.9%</td>
			<td>601</td>
			<td>0.9%</td>
		</tr>
<tr>
<td>Darwin</td>
			<td>981</td>
			<td>3.1%</td>
			<td>217</td>
			<td>0.7%</td>
			<td>233</td>
			<td>0.7%</td>
		</tr>
<tr>
<td>Hobart</td>
			<td>159</td>
			<td>0.5%</td>
			<td>204</td>
			<td>0.6%</td>
			<td>192</td>
			<td>0.6%</td>
		</tr>
<tr>
<td>National</td>
			<td>75,947</td>
			<td>2.2%</td>
			<td>74,221</td>
			<td>2.1%</td>
			<td>72,879</td>
			<td>2.1%</td>
		</tr>
</tbody></table>
Asking Rents

Over the month, capital city average asking rents increased 0.4 per cent for houses but decreased 0.2 per cent for units for the week ending December 12, to record asking rents of $540 per week for houses and $408 per week for units.

Most capital cities recorded increases in both house and unit asking rents.

Darwin recorded the highest increase of 6.7 per cent over the month for houses and 4.3 per cent in unit asking rents, followed by Hobart which recorded a 6.4 per cent increase in house rents and 3.3 per cent increase in unit rents.

Melbourne, however, recorded declines in both house and unit asking rents over the month of 0.1 per cent and 1.4 per cent respectively.

Sydney and Canberra recorded rental increases in houses of 0.9 per cent and 3.5 per cent respectively, but a decline in unit rents of 0.6 per cent and 1.2 per cent.

<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/sqm-research-december-15.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="448" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/sqm-research-december-15.jpg?itok=L5VVfE-V" width="580"></a>

"Rents for units in our two largest cities are still falling, though I note there appears to be a commencement of a reversal in the abundance of listings in the CBD’s of these two cities. They are still very elevated. But we could be starting to see some of the population moving back to the CBD and inner city locations”, SQM’s Louis Christopher said.
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The national residential rental vacancy rate remained stable at 2.1 per cent over the month of November, SQM Research revealed

National rental vacancy rate remains stable: SQM Research

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Capital city dwelling prices will see strong gains in 2021, with Perth leading the way from Sydney, SQM Research boss and economist Louis Christopher forecasts.
Christopher's Housing Boom and Bust Report 2021 has put forward four scenarios, which will determine how the housing markets across the country perform next year.
The base forecast, or scenario one, would see the capital city average dwelling price rise between five to nine per cent, with Perth forecast to lead the capitals with growth between eight and 12 per cent on the back of an ongoing recovery in the base commodities market, further encouraging mining-based project investment.
Sydney would closely follow with seven per cent to 11 per cent gains, namely driven by the proposed NSW Stamp Duty/Land Tax opt-in for home buyers. Adelaide will closely follow Sydney with six per cent to 10 per cent.
Melbourne is set for the most modest rises, up anywhere between two per cent and six per cent, due in part to the extended lockdowns in 2020.
The ongoing international border closures combined now with evidence of current interstate migration outflows will also put Melbourne at a disadvantage
The dwelling price gains in the base case are forecast on the premise that the cash rates remains unchanged at 0.1 per cent, a widely expected scenario, QE expands, and a third COVID-19 wave would be contained by more lockdowns.
It also assumes ongoing support from the Federal Government, with JobKeeper extended to September quarter 2020, and a progressive roll out of a COVID vaccine. 
The report notes that the extension of JobKeeper is regarded as essential for the ongoing momentum of the housing recovery, which appears to have formed from the end of the September Quarter 2020.
If JobKeeper is scaled back too prematurely, the housing market recovery in Sydney and Melbourne could stall, SQM suggest.
Louis Christopher said the national housing market has responded to the unprecedented economic stimulus packages as well as record low lending rates.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/DEC/3/SQM%202021.jpg" target="_blank">click here</a>.
<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/DEC/3/SQM%202021.jpg" alt="">
"Auction clearance rates have lifted since mid-year and various dwelling price measurements have started to record price rises," Christopher noted, adding that it is likely that the housing market will gain further momentum on the back of increased investor activity, especially from those who seek some sort of income yield.  
He does however suggest they have some misgivings on the longer-term consequences of these new stimulatory policies.
"If housing is regarded as an asset class that is not allowed to fall, Australia could have some rather serious social issues surrounding home ownership rates over the long term. In the meantime, risks have risen that this new recovery will be one of the more speculative rises seen in some time.
"Let’s keep in mind unemployment remains elevated and net migration is expected to be negative next year. We have a surplus of inner-city units in our two largest cities. And if there was another negative macro event in 2021, there is not much room left to cut lending rates further.
“Many in the community are starting to think they cannot ever lose on housing. That the Government will always be there to step into the housing market, if need be. And that is a scary idea...” 
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