Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

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The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

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“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

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Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

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&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

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Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

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Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

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Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

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Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

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The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

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Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

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The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

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“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

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Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

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There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

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Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

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The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

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Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

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%.

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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;

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&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;

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&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.

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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.

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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

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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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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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