Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Sqm Research

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Homeowners re-emerged from the summer break to list their property in a slowing market as listings across the nation rose in February by 4.6 percent to 317,984, according to SQM Research.
It was the nation's two biggest property markets, Sydney and Melbourne, that recorded the highest rise in listings.
They had a 19.3 percent jump in listings, closely followed by Melbourne at 19.1 percent.
Sydney’s listings are up by 22.3 percent from the same time last year, reflecting a large increase in properties available for sale as some homeowners seek to take profits given a slowing in the property market.
In contrast to other capital cities, listings were down in Hobart by 2.7 percent in February, to be down 31.8 percent from a year earlier, with a deep shortage of homes available for sale. 
Melbourne stock levels also remain down from last year by about 10 percent, though a shortage of properties for sales has eased in that city. 
Click here<a href="https://www.propertyobserver.com.au/images/2018/3/6/sqm1.jpg" target="_blank"> to enlarge.</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/2018/3/6/sqm1.jpg" alt="">
In Canberra, listings jumped by 15.5 percent, to be up 5 percent from the same time last year. In Brisbane, stock on market rose by 2.4 percent in February while in Perth listings rose by 2.9 percent. Listings barely changed in Darwin with a rise of just 0.1 percent over the month, to be up by just 0.4 percent over the year.
Louis Christopher, managing director of SQM Research said the rise was expected.
“The rise in February listings was expected as homeowners listed their properties with the new year well underway," he said.
"That helped to take the pressure off asking property prices, which were down in capital cities over the month to 6 March, especially in Sydney.
“We are also seeing increasing levels of stock hit the market in Melbourne, which may help to ease property price growth over the first half of 2018. 
“However, in Hobart, home seekers are frustrated by a steep shortfall of properties available for sale as a combination of sharp price rises and the small amount of residential property there keep listings down,” he said.
Asking Prices
Capital city average asking prices fell one percent for houses and 0.7 percent for units for the month to 6 March. The largest monthly fall came in Sydney, where asking house prices fell 1.5 percent and asking unit prices slipped 0.6 percent. Over the year, prices are up by 5.5 percent and 5.9 percent, respectively.
Gains too have moderated in Hobart, with asking price for units up by just 1.1 percent over the year after falling 1.3 percent over the month. Asking house prices rose by 5.7 percent over the year after falling 0.4 percent over the month despite the shortage of properties for sale.
Year-on-year, asking prices are up most in Melbourne, with asking prices for houses up 19.9 percent and unit prices up 13.7 percent.  Canberra too has recorded strong gains, with asking house prices up 16.6 percent over the year and asking unit prices up 7.8 percent. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/6/sqm2.jpg" target="_blank">to enlarge.</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/2018/3/6/sqm2.jpg" alt="">
 
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jrobinson-rf4aSBido9

Higher listings and lower asking prices in a slowing market: SQM Research

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The national residential vacancy rate was 2.2 percent in November, with the number of vacancies Australia-wide increasing to 70,795 – a slight increase on the month of October, according to SQM Research.
Hobart's vacancy rate continues to remain at a record low of 0.3%. Adelaide and Brisbane’s vacancy rates also remain unchanged from October at 1.4% and 3.4% respectively.
Canberra’s vacancy rate has increased marginally to 1.0% from 0.8% in October.
In the bigger cities, vacancies increased markedly in Sydney to 14,362 in November, up from 12,435 in October, giving a vacancy rate of 2.1%, up from 1.8% the previous month. Melbourne recorded marginal increases with the vacancy rate now at 1.8% with 9,872 rental properties available.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/14/sqm1.jpg" alt="">
Even in Perth, vacancies rose to 4.5% from 4.4% in October, and remains the highest of any capital city. Darwin’s vacancy rose from 2.6% to 2.8% over the month.
Louis Christopher, managing director of SQM Research, said the small rises in vacancies are expected in November and December due to seasonality, and offer some relief to home seekers although those in Hobart and Canberra faced ongoing tight rental conditions and higher rents.
“Sydney has recorded a larger rise. Rising from 1.8% to 2.2% is material. Rises occurred across all regions in Sydney however, some of the larger month on month vacancy rises came from the Northern Beaches, Parramatta the Upper North Shore and especially the Hills District where vacancy rates rose sharply to 3.7%.”
 
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Hobart's vacancy rates remain at record low as national rate increases: SQM

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National residential listings rose by 3.2% to 334,594 in November 2017, with stock levels jumping in Sydney, Melbourne, Canberra and Adelaide, as homeowners seek to take profits ahead of the summer break, latest data from SQM Research shows.
Canberra led listings with an 8.5 percent jump, followed by 5.9% in Adelaide, 5.6% in Sydney and  4.9% in Melbourne. 
Compared to a year earlier, listings are up 20.1% in Sydney, reflecting a large increase in properties available for sale, though in Melbourne stock levels are down 10.3% from a year earlier, SQM Research said.
In Brisbane, listings were up by 3.3% and in Perth they rose 3.4%. In Hobart, listings were up by 3.1% over November, but are still down 28% from a year earlier, reflecting a sharp shortage of properties available for sale in that city. 
“November listings usually jump ahead of the market slowing during the Christmas and New Year’s break, so the results are expected. That said, the year-on-year increase in Sydney is significant. Sydney now has the highest level of listings since October 2012,” said Louis Christopher, managing director of SQM Research.
“While there is a slowdown in Sydney, and to a lesser extent in Melbourne, we are still of the belief this is just a temporary stay, with a likely acceleration in market conditions next year based on an expansion in lending once again by the banks and still low levels of interest rates.” 
<a href="https://www.propertyobserver.com.au/images/2017/12/5/SQM1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/5/SQM1.png" alt="">
Capital city asking prices rose 0.5% for houses and 0.2% for units for the month to December 5. The largest monthly rise came from Canberra, where house asking prices rose 5.9%. 
In Melbourne, asking prices for units rose by 1.4%. Year-on-year asking house price gains were the strongest in Melbourne, with prices rising by 22.2%.   
Hobart had the strongest asking price gains for units, up 19.7% over the year.  
Only Darwin and Perth experienced price falls as the mining downturn continues to impact the property markets there, SQM said.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/SQMIndex.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/5/SQMIndex.png" alt="">
<h3>Key Points </h3>
<ol>
<li>National listings rose 3.2% during the month of November to 334,594 residential properties, but were down 3.7% over the year.</li>
<li>Listings rose the most in Canberra over the month, up by 8.5%, to be up 10.8% over the year.</li>
<li>Listings jumped in Sydney by 5.6% over the month, to be up 20.1% over the year.</li>
<li>Hobart recorded a monthly rise in listings of 3.1%, but they are down 28.0% over the year.</li>
<li>Capital city asking prices rose over the year to December 5 by 10.2% for houses and 6.0% for units.</li>
</ol>
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prateek24-ezbwHMbNAk

Property listings rise in November as owners seek profits before summer break: SQM Research

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<div>SQM Research calculated that national residential listings fell in October by 1.4 percent to 324,228, with stock levels decreasing in most capital cities.  Melbourne posted the biggest drop of 3 percent, but listings bucked the national trend in Sydney and Canberra. Listings also rose in Adelaide by 2.6 percent.</div>
<div> </div>
<div>There were gains of 2.8 percent in Sydney and 5.3 percent in Canberra. </div>
<div> </div>
<div>Compared to a year ago, listings were down by 4.6 percent across all Australian capital cities. </div>
<div> </div>
<div>The biggest drop was posted in Hobart, with listings down by 25 percent. </div>
<div> </div>
<div>SQM said Melbourne followed, with listings down by 11 percent, reflecting tight supply in those two cities.</div>
<div>
 <img src="https://gallery.mailchimp.com/9badbd870addb4af72206c2eb/images/aa0a339d-60f7-4b4e-b970-360f8ad07a83.png" width="482" height="228">
</div>
<div> </div>
<div>"It is not unusual to record a slight decline in listings in October," Louis Christopher at SQM said.</div>
<div> </div>
<div>"The initial September spring surge in listings has run its course. </div>
<div> </div>
<div>"A second surge in November usually occurs prior to the market closing for the year, and so, we expect listings to rise again next month."  "There is no evidence of any major correction in any city, however the large year-on-year rises in Sydney are demonstrating a downturn," he added.. SQM noted capital city asking prices rose 1 percent for houses but were flat for units for the month to October 24. </div>
<div> </div>
<div>The largest monthly rise came from Hobart, where unit asking prices rose 10 percent.</div>
<div> </div>
<div> In Melbourne, asking prices for houses rose by 1.7 percent, with a 1.3 percent rise in asking prices for units. Year-on-year gains were also the strongest in Melbourne, with both houses and unit prices rising 21 percent and 12.7 percent respectively.</div>
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j.ballantyne1990-6AQqhLzZaK

Sydney's October listings surge are a sign of the downturn: SQM

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Residential listings across Australia rose in September 2017 by 3.1% with stock levels rising in most capital cities, led by a jump in Sydney and Melbourne, according to SQM Research’s latest figures.
Despite the rise in listings to 328,751, asking prices for homes rose during the month for all capital cities including the two largest cities, indicating that sellers have not yet adjusted to the slower market, the firm said.
Sydney’s housing market continued to rise year on year, with listings up by 12.3%, the biggest increase of any capital city. 
However, national residential property listings were down by 5.4%, with Hobart recording the biggest fall of -25.5% and Melbourne (-12.9%).
“We know policy makers including the Australian Prudential Regulation Authority (APRA) have been very focused on slowing the Sydney housing market down. To this end, it appears their efforts have worked,” said Louis Christopher, managing director at SQM Research.
“I think more and more sellers are coming to the market hoping to sell at the peak, or close to it. Yet they are coming to the market with very lofty pricing expectations, hence we have seen auction clearance rates fall and days on market increase. There will be many disappointed sellers in Sydney by the end of this spring selling season.”
Elsewhere, Hobart was the only capital city to record falls in listings for the month, falling by 3.9%, which suggests ongoing booming market conditions for the city. Perth and Adelaide are now recording year-on-year declines in listings, falling by 3.5% and 2.6% respectively.
<a href="https://www.propertyobserver.com.au/images/2017/10/03/SQMSept.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/03/SQMSept.png" alt="">
Capital city asking prices rose 0.6% for houses and 0.2% for units for the month. The largest monthly rise came from Perth houses, rising by 1.3%. Hobart units recorded the largest monthly fall of 0.7%. 
<a href="https://www.propertyobserver.com.au/images/2017/10/03/SQMResearch1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/10/03/SQMResearch1.png" alt="">
Annual growth in asking house prices has slowed in Melbourne from around 22% last month, to around 20% for the 12 months ended October 3, while growth in Sydney has slowed to just below 10%.
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Property listings rose in September by 3%: SQM Research

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Data released by SQM Research has revealed the number of national residential vacancies was 75,733 homes in July 2017, giving a national vacancy rate of 2.3 percent, down from 2.4 percent in June.
The vacancy rate remained very tight at 0.5 percent in Hobart, down from 0.7 percent a month earlier, while it was slightly lower in Sydney at 2.0 percent, down from 2.1 percent.
Vacancies were steady in Melbourne at 1.7 percent, but are down from 2.1 percent a year earlier.
<a href="https://www.propertyobserver.com.au/images/2017/08/15/SQM-1.jpg" target="_blank">Click to enlarge</a>
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Managing Director of SQM Research, Louis Christopher, said while vacancy rates had remained largely steady in Melbourne and Sydney, the numbers reflected still tight rental markets in those cities, where high costs mean many people are spending 30% or more of their income on rents.
“Our data shows that asking rents in Melbourne for house and units are up 4.6% and 5%, respectively, over the year to August 12, well above the inflation rate. 
"Excessive population growth is driving rents higher in that city, as well as house prices.
“On this front, I agree with Dick Smith and other economists on proposed immigration cuts.
"The surge in population is the primary reason why the RBA’s warnings last year and earlier this year of an oversupply in Sydney and Melbourne have not materialised.
“I suspect surging population growth is also the reason why APRA’s actions in 2015 to slow the investor market place in order to take the heat out of the Sydney and Melbourne market only worked temporarily.
"If we do not address this issue in the manner  required, it is unlikely housing affordability is going to materially improve from this point.
"Indeed, affordability could further deteriorate in the form of higher rents and higher house prices with the only other remedy being aggressive interest rates rise from the RBA,” Mr Christopher said.
“Meanwhile, Hobart is now experiencing very tight conditions.
"Vacancies are just 0.5% and market rents have effectively risen by over 10% in the last 12 months.
Unfortunately, few developers will build in Hobart due to the high transportation costs of moving materials across from the mainland plus the historical risks attached to the local economy,” Christopher said.
Asking Rents
While asking rental growth for houses has moderated slightly, the asking weekly rent for a three-bedroom house in Sydney sits at a high $729, leading all other cities.
For units, it sits at $520. Over the year to August 12, asking rents for houses in Melbourne rose 4.6%to $508 while for units, asking rents sit at $399.
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National vacancy rates decline during July period: SQM

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National residential listings fell in July 2017 by 5.1 percent to 316,748, with stock levels down in all capital cities during July according to SQM Research.
Louis Christopher, managing director of SQM said Hobart led the drop in property listings at 10.5 percent, followed by a 7.4 percent fall in Melbourne.
"Listings in both cities were down sharply from a year earlier, keeping upward pressure on asking house and unit prices," he said.
"Compared to a year ago, national residential property listings were down by 9.0 percent.
"There was some seasonality in the numbers, which contributed to the drop in listings. June had an extra weekend while July did not.
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"That can make a big difference as each Friday there are several new property listings that enter the market, and so we think June listings were overinflated by this fact.
"Sydney residential property listings fell 5.7 percent as vendors await the spring selling season and sit on the sidelines during the winter period.
"Stock is still in short supply in some cities, particularly in Hobart and Melbourne.
"This has helped to push up asking prices for houses and units in those cities to well over the double digits, with Melbourne’s asking house price growth leading the nation at almost 22 percent over the year to August 1.
"We also probably saw more first home buyers enter the market in July, with Victoria and NSW introducing grants for first homebuyers from July 1, which will push up demand on property and prices."
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National residential listings fall in July: Louis Christopher

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Results released by SQM Research reveal national residential listings rose in June 2017 by 3% to 333,805, with significantly more stock hitting the market in Melbourne and Sydney over the month.
But listings in Melbourne were down sharply compared to a year earlier, which helped to lift asking house prices by an impressive 22.1%.
Compared to a year ago, national residential property listings were down by 3.3%.
While listings rose in most capital cities, big drops in Hobart and Melbourne pushed down the average across the nation.
The sharp drop in Melbourne listings of 12.7% over the year to June 30 is a stark contrast to the 12.3% jump in Sydney residential property listings as some vendors took advantage of strong price gains in the Harbour city to take profits on their properties before the end of financial year.
Louis Christopher, managing director of SQM Research, said the listings data highlights that more properties were available for sale in June, helping to explain the downward trend in auction clearance rates over the month.
“Compared to May, we saw more homes being listed for sale,” Christopher said.
"At the same time, investors are retreating in the face of higher mortgage rates, which is helping to take some pressure off property prices in Sydney, with asking prices for houses and units down over the month.
“But in Melbourne, we are seeing continued strong growth in asking prices for units and especially for houses, which are up a staggering 22.1% over the year to June 27, with stock still in short supply.”
The table below indicates that over the month ending 27 June, asking prices for houses jumped in Melbourne and Hobart, helping to push up the average asking prices across the nation.
However, asking prices fell in Sydney, Canberra, Brisbane and Perth, where higher stocks levels in all those cities contributed to downward pressure.
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National property listings rebound in June: SQM

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National residential listings increased marginally by 0.5% to 324,041 over the month of May 2017, results released by SQM Research reveal.
The data reveals Sydney, Brisbane and Darwin posted the highest monthly increase in listings, up 5.9%, 3.2% and 3.0%, respectively. 
However, property listings fell in Hobart and Melbourne over the month. In Hobart, listings dropped 5.7% and Melbourne 1.2%.  
Over the year, listings were down in all capital cities except Canberra and Sydney which increased 2.7% and 2.0% respectively.
There were steep drops of 18.9% in Hobart and 19.5% in Melbourne over the year which reflects very robust market conditions in these two cities.
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Louis Christopher, SQM Research's managing director, said the listings data suggests the national market was still relatively strong.  
"Normally, May listings increase over April due to the multiple holiday periods in that month," he said.
"So a 0.5% list for May is actually quite modest.
"The Sydney rise of 5.9% is a little on the weaker side and I also note the monthly decline in asking prices of 1% for that city.  
"While it is still too early to call a slowdown in Sydney at this stage, we are watching this market closely as there has been increasing evidence of a possible slowdown.
"Meanwhile the listings activity and asking prices out of Melbourne suggest there were very robust market conditions throughout May.  
"To record a 1.2% decline in listings plus a near 6% surge in asking prices for houses is about as strong as it gets."
The table below indicates that over the month ending 6 June, asking house and unit prices recorded marginal decreases in Sydney, Darwin, Brisbane and Adelaide.
Hobart and Melbourne posted gains.  
Nationally, asking house prices showed no growth and unit prices recorded a decrease of 0.4%
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Modest rise in national listings suggest ongoing strength: SQM Research

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The rise in the number of unreported auctions could mean bad news for the property market, according to SQM Research. 
“In life, there is a tendency to want to report good news but not so much the bad news,” says Louis Christopher, managing director of SQM Research in its latest newsletter.
And over the years this “primal tendency” has compromised the voluntary reporting of auction results, he says.
This could suggest there is more bad news in the property market, notwithstanding any surge in listings which may make it difficult for auction reporting teams to compile the results before the day is out.
In this regard, I thought it worthwhile republishing some historical auction numbers from this year, 2015 and 2012.
A comparison between the data from earlier this year and 2015 is striking, particularly for Sydney. In 2015, the Sydney market was rising at its fastest rate in 30 years. 
The numbers give you an understanding of relative unreported rates during the best of times verses the current times where last weekend, nearly 30 percent of auctions were not reported. 
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<img src="https://www.urban.com.au/images/2017/05/31/SYDAuctions17.png" alt="">
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<img src="https://www.urban.com.au/images/2017/05/31/SydAuctions2015.png" alt="">
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<img src="https://www.urban.com.au/images/2017/05/31/MelbAuctions2017.png" alt="">
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<img src="https://www.urban.com.au/images/2017/05/31/MelbAuctions2015.png" alt="">
 
In 2015, auction clearance rates were higher and unreported auction rates were lower. Volumes were also about 10% lower – perhaps making it easier for the auctions collection team on the day.
<a href="https://www.propertyobserver.com.au/images/2017/05/31/SydAuctions2012.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/SydAuctions2012.png" alt=""> 
Turning the clock back to 2012 – a time when the Sydney and Melbourne housing markets were nearing the end of a two-year downturn, auction clearance rates were lower. However, auction reporting rates were higher and improving. 
Auction data on Melbourne is not available, he noted.
Overall, the evidence suggests that home prices are still rising in Sydney and Melbourne. However, clearance rates are off their peaks and unreported rates have been rising, particularly in Sydney. Listings are also higher, suggesting more vendors may be thinking the property market is at its peak or close to it.
“In my opinion, clearance rates need to be lower than current levels before a peak and new downturn can be called.  
“We need to see clearance rates fall to around mid 60 percent for Sydney and high 60 percent for Melbourne. We are not close to those levels yet even after making an adjustment for unreported rates,” says Christopher.
So, prices are still going up in those markets but “we are getting close to a top and perhaps the major banks passing on the bank levy might just be the point which creates a trigger for a slowdown” concludes Christopher.
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