National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

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The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

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Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

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;

[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;

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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.

[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]

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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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