Developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is bringing some of the largest apartments ever delivered to the sought-after Domain Precinct, directly facing Albert Park Lake.

H&amp;F has recently launched <a href="https://www.apartments.com.au/new-apartments/the-queensbury-melbourne-71-queens-road-melbourne-vic-3004">The Queensbury</a>, inspired by London’s Queens Club, the historic home of the prestigious Wimbledon, the world’s oldest tennis tournament. The opportunity for apartment buyers is as rare as securing a ticket to the finals at the All England Club, with the site being one of the very few remaining positions offering uninterrupted, never-to-be-built-out views across Albert Park Lake.

The building has been designed to maximise the unique nature of the site and its prominent parkside position. Architecture firm Forum has crafted a design that responds directly to its setting. Its façade is defined by strong vertical elements and expansive glazing, oriented to capture the unrepeatable views over Albert Park Lake, the city and the bay.

[smartcode_project:default project_id=151832 project_image_fid=359764]

There will be 141 two- and three-bedroom apartments in The Queensbury, many of which have already been snapped up during the early marketing stage.

The apartments have been planned to maximise natural light and visual connection to the surrounding landscape. Living areas extend to private balconies, reinforcing the relationship between interior spaces and the lake or city beyond. Bedrooms are oriented to draw in daylight, while material selections focus on natural stone, porcelain tiles and brushed nickel fixtures.

Purchasers can choose between two interior schemes, Augusta and Ascot, which interpret neutral and earth-toned palettes across kitchens and bathrooms. Kitchens incorporate natural stone benchtops, integrated Miele appliances and panelled cabinetry, with detailing designed to balance durability and everyday functionality.

[smartcode_project:default project_id=151832 project_image_fid=359771]

Much like the private clubs that define Wimbledon’s tradition and prestige, The Queensbury has been designed to embody an exclusive, club-style way of living.

Its resident amenities are curated to mirror the refined atmosphere of a members’ club, with spaces to gather, unwind and entertain, delivering an elevated lifestyle that feels both rare and enduring.

[smartcode_project:default project_id=151832 project_image_fid=359772]

“The ground level is designed as an open lounge that brings the outdoors in,” says David Harrap, Director at Forum.

“The wellness centre is a sanctuary and spills out towards the garden, creating a sense of calm.”

The wellness centre comprises a fully equipped gym, spa, cold plunge pool and sauna. A resident lounge and dining space opens to an outdoor pickleball court, aligned with the sporting culture of London’s Queens Club and a first for a Melbourne multi-residential apartment development.

[smartcode_project:default project_id=151832 project_image_fid=359748]

While the proximity and orientation of the site and building are unmatched, future residents will also be within walking distance of ANZAC Station and multiple tram connections along St Kilda Road. The development is also close to the NGV, Arts Centre Melbourne and major sporting venues including the MCG and Rod Laver Arena.

St Kilda Beach, along with the hospitality venues that line the foreshore, is just over two kilometres from the front door.

[smartcode_project:default project_id=151832 project_image_fid=359764]

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has been developing a mix of commercial and residential projects since it was founded in 2014 by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum.

After recently launching its fourth Gold Coast project, <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has also delivered local developments including Central Park in Box Hill and 107 Darling Road in Malvern East.

[smartcode_project_cta:default project_id=151832]

Joel Robinson

The Queensbury brings Wimbledon-inspired living to Albert Park Lake

<a href="https://www.apartments.com.au/developers/pdg-corporation">PDG Corporation</a> has been appointed by the Victorian Government and Development Victoria to transform a long-unused infrastructure site in Ivanhoe into a new residential precinct, delivering 275 homes alongside a 2,000 sqm public park.

The project will redevelop the former water tank site on Upper Heidelberg Road, which has been unused since 2004. The appointment follows an eight-year planning process and marks the start of detailed design, with a planning application expected to be lodged in mid-2026.

The redevelopment will introduce a new residential community in one of Melbourne’s established inner-north suburbs, with at least 10 per cent of the homes allocated as affordable housing. In addition to new housing supply, the project will expand local open space through the delivery of the public park, which will be accessible to the broader community.

PDG Managing Director and Founder Vince Giuliano said the partnership with Development Victoria presented an opportunity to deliver a housing outcome aligned with the character of the area.

“PDG is thrilled to partner with Development Victoria to bring new housing options to this popular part of Melbourne,” Giuliano said.

“This exceptional location offers a rare opportunity to create a vibrant, connected community, and we look forward to working closely with Development Victoria and other stakeholders to bring their vision to life.”

The Ivanhoe project continues PDG’s track record of delivering mixed-use and community-focused developments in Melbourne.

PDG has just sought to upscale its plans for its prime Southbank site on Queens Bridge Street. They are seeking to developer 637 apartments across a 71-storey tower.

PDG appointed to develop Ivanhoe water tank site by Development Victoria

National developer Fortis has received development approval for Crest &amp; Walker, its Newstead apartment development on Kyabra Street.

Construction by Binah is expected to commence on the 20-storey, Bureau^Proberts-designed building soon. There will be 65 two- and three-bedroom apartments on offer, starting at $1.8 million.

<a href="https://www.apartments.com.au/new-apartments/crest-walker-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> marks the fourth active development to be delivered by Fortis in Brisbane, following River House, now nearing completion, a residential project in New Farm, and a mixed-use development in Hamilton. Several additional projects remain in the pipeline as the development manager continues to grow its footprint across South-East Queensland.

&nbsp;

Dan Boman, General Manager – Development, Queensland, said the continued expansion in Brisbane projects managed by Fortis reflects the company’s commitment to design-led development and thoughtful placemaking.

“We’re proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such lifestyle destination as Newstead," Bonman says.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves."

Bonman believes Crest &amp; Walker will&nbsp;attract a discerning buyer who values design, thoughtful amenity and a lifestyle that captures the best of contemporary Brisbane.

"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."

&nbsp;

The building’s design features a contemporary brick podium softened by vertical greenery, creating a distinctive architectural expression within the Newstead streetscape. Positioned between Gasworks and James Street, the project sits within one of Brisbane’s most coveted lifestyle precincts, surrounded by dining, retail and cultural destinations.

A communal rooftop will feature a sun lounge and pool, BBQ facilities and a sauna, all set against panoramic views across Newstead and the Brisbane CBD.

Slaite Projects will handle the sales campaign, which will kick off in May.

[smartcode_project_cta:default project_id=145922]

Fortis to launch Crest & Walker, Newstead following development approval

Ahead of the completion of several projects in 2026, Justin Brown’s Abadeen Group is working on the next phase of its boutique residential pipeline.

<article data-scroll-anchor="true" data-testid="conversation-turn-10" data-turn="assistant" data-turn-id="request-WEB:4ca9c789-6d9f-4fea-860a-8e6ce96c2acc-4" dir="auto" tabindex="-1">
Abadeen, which has recently sought approval to <a href="https://www.apartments.com.au/news/nsw/first-look-woollahra-development-wave-continues-as-abadeen-plots-six-storey-apartment-block">develop 29 apartments in Woollahra</a>, will also be returning to Neutral Bay, where it has just completed <a href="https://www.apartments.com.au/buildings/enso-neutral-bay-34-grosvenor-street-neutral-bay-nsw-2090">ENSO</a> and is putting the finishing touches on <a href="https://www.apartments.com.au/new-apartments/the-villas-neutral-bay-7-11-premier-street-neutral-bay-nsw-2089">The Villas</a> nearby. Abadeen first developed in the suburb back in 2019 when they completed No.1 Premier.

Its newest development will be located at the southern end of Barry Street, a stone’s throw from Ilbery Reserve and the Neutral Bay Social Club. Closer in scale to The Villas than ENSO, the <a href="https://www.apartments.com.au/new-apartments/19-21-barry-street-neutral-bay-nsw-2089">Barry St project</a> will comprise 20 large-scale apartments, a typology synonymous with Abadeen’s development ethos. 
 
<img alt="First Look: Abadeen plots six-storey apartment development in Neutral Bay’s Barry Street" data-entity-type="file" data-entity-uuid="1d96caa0-89fc-4751-b046-cad872025c73" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Barry%20street%20pers.png?VersionId=h6zHBVcEkmN0bQOSBebQA.n6F3vRHUm6" />
</article>

<a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>&nbsp;said in its Design Report that the proposed multi-residential development in Neutral Bay contributes positively to the area’s established residential character, aligning with the objectives of the Low and Mid-Rise Housing Policy and relevant local planning controls.

"The building is carefully scaled to sit comfortably within its context, with articulated massing and generous setbacks that reduce perceived bulk and ensure a respectful transition to neighbouring properties.

"Through a clear response to surrounding building heights, streetscape patterns and landscape character, the proposal reinforces Neutral Bay’s reputation for high-quality residential development within a well-defined urban setting."

The report also said apartment planning prioritises outlook, sunlight and environmental performance.

"Living spaces are oriented to maximise views to the south while maintaining excellent solar access throughout the day. Dual-aspect apartments and carefully positioned openings promote natural cross-ventilation, reducing reliance on mechanical systems and supporting sustainable living outcomes."

<img alt="Abadeen" data-entity-type="file" data-entity-uuid="5c2b0ba6-583f-4ea4-9069-4773b5169e14" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-09%20at%203.02.02%E2%80%AFPM.png?VersionId=LfP0A9iwT_gPnJeP6_uvkWvqDipuWN3I" />

Abadeen is on track to complete several projects this year across Sydney's Lower North Shore. Late last year it completed ENSO, a nine-apartment development toward the northern part of Neutral Bay, around 750 metres from the new Barry Street plans. The Villas, which will comprise 17 apartments, is approaching completion and is around 450 metres away.

“The Villas is an exceptional project in a highly desirable Lower North Shore location," Brown said when the building topped out in October last year.

"We’re creating homes that allow residents to feel genuinely connected to one of Sydney’s most prized harbourside communities."

First Look: Abadeen plots fourth Neutral Bay apartment development

Singaporean developer <a href="https://www.apartments.com.au/developers/centurion-global">Centurion</a> has unveiled plans for a major mixed-use redevelopment of the former John Martin &amp; Co warehouse building on Adelaide CBD's dress circle North Terrace.

The $300 million redevelopment will comprise three towers, rising behind and above the preserved 19th-century sandstone façade. The proposal would retain and integrate the heritage-listed structure while introducing a trio of contemporary towers that combine student accommodation, residential apartments, and commercial uses.

There will be apartments to purchase, as well as a 30-storey, purpose-built&nbsp;student accommodation tower, designed to respond to growing demand for dedicated student housing in Adelaide’s CBD.&nbsp;Ground and podium levels across the development are expected to host retail, food and beverage, and entertainment uses, helping to activate the street edge and create stronger pedestrian connections between North Terrace and the nearby Rundle Mall retail precinct.

A key element of the proposal is the preservation of the site’s historic sandstone building, constructed in 1867 and designed by prominent colonial architects Edmund Wright, Edward John Woods, and Edward Hamilton. The building originally operated as a warehouse for the well-known Adelaide department store John Martin &amp; Co before the retailer closed in 1998.

&nbsp;

The site sits opposite several of Adelaide’s most significant cultural institutions, including the Art Gallery of South Australia, the South Australian Museum, the State Library, and the university precinct. Its location places it within a corridor that connects the city’s cultural, education, and retail destinations.

It is the second redevelopment proposal on North Terrace in recent months, with Palumbo Group set to redevelop the heritage-listed former Royal Hotel which has laid vacant for over a decade.

They are planning 211 apartments across two towers, just over a kilometre from Centurion's project.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/sa/palumbo-group-to-redevelop-kent-town-pub-into-new-apartment-development">Palumbo Group to redevelop Kent Town pub into new apartment development</a>

Centurion plots $300m triple-tower redevelopment for heritage John Martin’s warehouse on Adelaide’s North Terrace

Vacancy

<html><body>
EXPERT OBSERVER
The spectre of Australia’s vacancy tax is about to become real for Chinese residential property owners, with penalties of up to $52,500 looming for those who miss the deadline. 
One year after the Federal Government introduced vacancy tax rules, the first returns are starting to become due – and up to 15,000 foreign investors will be expected to provide evidence as to whether their property sat vacant in the last year.
Foreign owners of Australian residential property face a minimum vacancy tax of $5,200, and even occupied properties could incur a $52,500 penalty if the owner fails to meet the deadline to lodge a return declaring occupancy of their assets with the Australian Taxation Office (ATO).
Further, if they fail to keep the necessary records to prove occupation, they could be hit with an additional penalty of $52,500. And even then, the owner would still be liable to pay the vacancy fee. For a property worth upwards of $4 million, that could equate to combined penalties and fees of more than $150,000 —even if the property has been occupied throughout.
The annual vacancy tax rules are the latest in a series of imposts on foreign buyers, designed to reduce the impact of foreign ownership on housing affordability, particularly in the core property markets of Sydney and Melbourne.
While the ‘ghost tax’ is intended as a financial incentive for foreign owners to make their dwelling available for rent and increase available housing in Australia, it raises the question of whether Chinese buyers might be scared away by the long-term implication of the new rules.
Foreign owners must lodge a vacancy tax return every year, keep records for at least five years after selling, keep evidence regarding who is using their property, and manage the risk of significant financial penalties if they fail to do so.
The immediate challenge facing foreign owners who have bought a residential property since May 2017 is identifying when they will need to submit their vacancy review, and how they will go about proving whether the property was vacant or not.
While the burden of this new tax on Chinese buyers is hauntingly clear, the impact on foreign sales in the Australian residential market is not.
Chinese buyers remain Australia’s biggest investors in real estate but according to statistics published in the Foreign Investment Review Board’s (FIRB) 2016-17 Annual Report, the size of their investment more than halved from AUD$31.5 billion in 2015-16 to AUD$15.2 billion in 2016-17.
Overall FIRB real estate approvals plunged from 40,149 in 2015-16, to 13,198 last year. But there have been a number of factors that may have contributed to this reduction, including the introduction of FIRB application fees, tighter Chinese capital controls and weaker Australian property market conditions.
For Chinese buyers, the residential property market continues to become more hostile in Australia and while it hasn’t yet reached New Zealand levels - where foreign buyers have been banned altogether - the latest changes are likely to have a chilling effect for many looking to purchase property.
Denise Honey is a partner at tax consulting firm Pitcher Partners.
</body></html>

jrobinson-rf4aSBido9

The potential impact of Australia's new vacancy tax rules on foreign ownership

<html><body>
In the 2017-2018 Federal Budget announced on May 9 2017, the government revealed their intention to place an annual fee on foreign owners of Australian residential property that leave their property vacant.
On 7 September 2017, amendments to the Foreign Acquisitions and Takeovers Act 1975 (FATA) were introduced in the House of Representatives as the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017, to implement the annual vacancy fee on foreign owners of Australian residential properties.
The aim of the annual vacancy fee is to increase the number of residential properties available for Australians to live in by providing a financial incentive for the foreign owners of Australian residential real estate to make their property available on the rental market.
The annual vacancy fee will be levied on foreign owners of residential properties where the property is not occupied or genuinely available on the rental market for at least 183 days in a 12 month period.
The fee levied on the foreign owner will be equivalent to the foreign investment application fee which was paid at the time of application to the Foreign Investment Review Board for approval.
This fee is currently calculated as:
<a href="https://www.propertyobserver.com.au/images/2017/10/04/VacancyFee.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/04/VacancyFee.png" alt="">
The vacancy fee applies to foreign persons who are owners of Australian residential real estate.
Section 4 of FATA provides the definition of a ‘foreign person’:
a. An individual not ordinarily resident in Australia; or
b. A corporation in which an individual not ordinarily resident in Australia, a foreign corporation or a foreign government holds a substantial interest; or
c. A corporation in which 2 or more persons, each of whom is an individual not ordinarily resident in Australia, a foreign corporation or a foreign government, hold an aggregate substantial interest; or
d. The trustee of a trust in which an individual not ordinarily resident in Australia, a foreign corporation or a foreign government holds a substantial interest; or
e. The trustee of a trust in which 2 or more persons, each of whom is an individual not ordinarily resident in Australia, a foreign corporation or a foreign government, hold an aggregate substantial interest; or
f. A foreign government; or
g. Any other person, or any other person that meets the conditions, prescribed by the regulations.
The vacancy fee applies when:
- Residential property is not occupied or genuinely available on the rental market for at least 6 months in a 12 month period. - If the dwelling is not residentially occupied, or genuinely available to be occupied, for at least 183 days in a 12 month period.
A foreign owner will not be liable to pay the annual vacancy fee if:
- The owner or a relative of the owner occupies their dwelling for 183 days or more in a 12 month period.
 - The property is subject to lease/s or licence/s with a minimum duration of 30 days which total 183 days in a 12 month period.
 - The property is made genuinely available on the rental market, with minimum durations of 30 days, for a total of 183 days in a 12 month period.
 - A dwelling will be considered genuinely available for occupation as a residence if the dwelling is: made available on the rental market, advertised publicly and available at a market rent.
 - Where a foreign owner chooses to utilise a web-based short term stay site (e.g. Airbnb) and only makes the property available for periods of less than 30 days in order to maintain - flexibility, this will not count towards the minimum 183 days as this type of rental does not make the property genuinely available for periods of 30 days or more.
 - The foreign person owns residential land without a dwelling or currently undergoing construction of a dwelling.
If you are liable to pay the fee:
- Foreign owners are required to give a ‘vacancy fee return’ to the Commissioner of Tax (Commissioner) after the end of each year to advise the number of days a residential property was occupied in a 12 month period.
- The Commissioner will issue a notice to foreign owners if a vacancy fee is payable, explaining why the liability has arisen. The amendments grant the Treasurer with powers to recover unpaid amounts and civil penalties may apply where a foreign person fails to submit a ‘vacancy fee return’ or keep the required records.
 This article was by Gary Newton, Partner at <a href="https://www.tresscox.com.au/" target="_blank">TressCox Lawyers</a>, and Henry Yuan, Law Clerk at the same law firm.
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Foreign property investors slugged with vacancy fees: TressCox Lawyers

<html><body>
Brisbane houses have rose to the second highest vacancy rates in the country ahead of Darwin, a new report has shown.
Brisbane's house vacancies rose to 2.6 percent in September, while Darin tightened to 2.1 percent, Domain Group's rental report revealed.
Both are still some way off Perth's 4.2 percent vacancy rate. 
Source: Domain Group
<table border="0"><tbody>
<tr>
<td>Capital City </td>
<td>Houses September 2016</td>
<td>Houses September 2015</td>
</tr>
<tr>
<td>Perth</td>
<td>4.2%</td>
<td>3.2%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>2.6%</td>
<td>2.5%</td>
</tr>
<tr>
<td>Darwin</td>
<td>2.1%</td>
<td>2.6%</td>
</tr>
<tr>
<td>Sydney</td>
<td>2.0%</td>
<td>1.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>1.8%</td>
<td>1.7%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>1.5%</td>
<td>1.6%</td>
</tr>
<tr>
<td>Canberra</td>
<td>0.8%</td>
<td>1.2%</td>
</tr>
<tr>
<td>Hobart</td>
<td>0.6%</td>
<td>1.0%</td>
</tr>
<tr>
<td>
National Capital City
</td>
<td>2.3%</td>
<td>2.1%</td>
</tr>
</tbody></table>
Domain Group chief economist Andrew Wilson said Brisbane is a “tenant’s market”.
“The upwards bias of vacancy rates is really favouring tenants,” Dr Wilson said. 
“When compared to other capital cities, it’s clearly become one of the best cities for renters in the country.”
“One positive is the number of jobs this has created.”
Median rent prices remain flat at $400 per week, which Dr Wilson said was due to more first home buyers.
Median rental prices by capital city for houses: Source Domain Group
<table border="0"><tbody>
<tr>
<td>Capital City </td>
<td>Median House Rent September 2016</td>
<td>Median House Rent September 2015 </td>
</tr>
<tr>
<td>Darwin</td>
<td>$550</td>
<td>$590</td>
</tr>
<tr>
<td>Sydney</td>
<td>$530</td>
<td>$530</td>
</tr>
<tr>
<td>Canberra</td>
<td>$475</td>
<td>$450</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$400</td>
<td>$400</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$400</td>
<td>$390</td>
</tr>
<tr>
<td>Perth</td>
<td>$380</td>
<td>$420</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$350</td>
<td>$350</td>
</tr>
<tr>
<td>Hobart</td>
<td>$330</td>
<td>$330</td>
</tr>
</tbody></table>
 
<div>“Brisbane has seen higher numbers of first home buyers and that has really taken pressure off rental demand,” he said.</div>
“Rents have been flat for some time now, and will likely continue into the foreseeable future. 
"But yields are high in Brisbane – in fact, highest of the mainland, which is attractive to investors.
"However, the issue is securing a tenant, and that’s the challenge.”
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Brisbane's house vacancy rates jump to second highest in the country

<html><body><div class="cq-article-content-paras section">
Residential vacancy rates held steady in June, SQM Research figures show, remaining tight across the nation.
There was a vacancy rate of 2.4% posted based on 72,849 vacancies.
Rates remained in the same in most capital cities, excluding Perth, Brisbane and Canberra, where vacancy rates climbed.
The biggest rise was recorded in Perth and Canberra with a monthly change of 0.2 percentage points from May.
Over the year, vacancy rates in Perth have continued to climb with a significant 1.1% jump from this time last year.
Year-on-year, vacancy rates are down for Canberra, Melbourne, Hobart, and to a lesser extent Sydney. 
Melbourne has posted the biggest yearly fall in its vacancy rate from 2.7% to 2.3%.
The Sydney rate stood unchanged a 1.8% in June, slighly better for landlords than the 1.9% of June a year ago,
But the year-on-year rental increase of 3.2% was showing a slow down, said SQM managing director Louis Christopher. 
Vacancies are rising in the resource economy-hit cities of Perth and Darwin. 
Perth's vacancy rate grew to 3.6% from 3.4% in May, well above the 2.5% of last year. 
Darwin sat 3.5% from May, more than double the 1.6% of June last year. 
</div></body></html>

jchancellor-FAypfDUnLy

Melbourne's rental vacancy rate tightening: SQM

<html><body>
The latest SQM Research vacancy rate figures have found vacancy rates dipping slightly for the second consecutive month, in what is likely a seasonal trend.
Currently, the national vacancy rate is 2.1% with 62,947 vacancies. Year on year, this sees the national vacancy rate at a fairly stable figure, recording 2.0% in October 2013 and 2.2% in September 2014.
Despite the national figure remaining stable, <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>’s managing director Louie Christopher pointed to drastic vacancy rate changes when drilling down to the capital city levels, perhaps as a result of the falling mining boom.
For instance, Perth in October 2013 recorded a vacancy rate of 1.5%. It is now 0.9% higher.
Similarly, Darwin recorded a 0.9% vacancy rate in October 2013 and now sits at 2.1%.
Canberra has recorded a reduction in the vacancy rate from 2.1% in October 2013, and in September 2014, to 1.8% in October 2014.
“The rental market was steady over the month with the trends observed over the course of the year, continuing on in October,” said Christopher.
“We continue to see ongoing rental weakness in Perth and Darwin. Canberra is now providing signals that perhaps the worst of the rental downturn is over with a slight fall in vacancies year on year and a rise in asking rents for the month,” he said.
He noted that Sydney appears to be the strongest rental market at present, with asking rents up 6.8% for the past 12 months. However, he said that he expects this to slow in 2015 with increased stock coming onto the market for the city.
Vacancy rates (from highest to lowest):
<ul>
<li>
Melbourne 2.5% 
</li>
</ul>
<ul>
<li>
Perth 2.4% 
</li>
</ul>
<ul>
<li>
Brisbane 2.2% 
</li>
<li>
Darwin 2.1% 
</li>
<li>
Canberra 1.8% 
</li>
</ul>
<ul>
<li>
Sydney 1.6% 
</li>
</ul>
<ul>
<li>
Adelaide 1.5% 
</li>
</ul>
<ul>
<li>
Hobart 1.3%
</li>
</ul>
Turn over page for SQM Research’s results on the changing rents charged across the capital cities.
<hr class="system-pagebreak">
<img src="/images/2014/11/19/sqm%20nov%2019%20one.png" alt="">
Source: <a href="https://www.sqmresearch.com.au" target="_blank">SQM Research</a>
</body></html>

jduke-EHk3XBmHkn

Drastic Perth and Darwin vacancy changes: The weakest capital city rental markets

<html><body>
An area's vacancy rate is an important detail, helping you shape your initial picture of the area.
Changes and trends in the vacancy rate and how it compares to other areas will help you consider whether that suburb is the best decision for you. If you're unsure about how to use this figure, start with our quick explainer about <a href="/expert-insights/what-is-a-vacancy-rate-investment-terms-explained">what a vacancy rate is and what it measures</a>. High vacancy rates can be caused by a number of things, like a surge in stock.
Property Observer looked to SQM Research's statistics to see where, across Victoria, the vacancy rates are highest. To see vacancy rates for a specific suburb, you can see <a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=nsw%3A%3ASydney&amp;type=c&amp;t=1" target="_blank">SQM Research's free data online</a>.
Here are ten to know from the list.
<ol>
<li>
<a href="/news">Southbank</a> 8.3% 
</li>
<li>
<a href="/news">St Leonards</a> 6.4% 
</li>
<li>
<a href="/news"> Docklands</a> 5.5% 
</li>
<li>
<a href="/news">Melbourne (city)</a> 5.1% 
</li>
<li>
<a href="/news">Travancore</a> 5.0% 
</li>
<li>
<a href="/news">St Kilda</a> 3.9% 
</li>
<li>
<a href="/news">Parkville</a> 3.7% 
</li>
<li>
<a href="/news">South Yarra</a> 3.6% 
</li>
<li>
<a href="/news">Elwood</a> 3.1% 
</li>
<li>
<a href="/news">Connewarre</a> 2.9%</li>
</ol>
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<a href="/expert-insights/buying/mining-town-vacancy-rates-mean-that-its-wise-to-wait-and-watch">Mining town vacancy rates mean that it's wise to wait and watch: Terry Ryder</a>
<a href="/news/nsw/which-new-south-wales-region-has-the-lowest-vacancy-rate-and-its-not-sydney">Which New South Wales region has the lowest vacancy rate? (And it's not Sydney)</a>
Note: Some of these numbers have been amended from initial publishing due to data updates
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Victoria's highest vacancy rates: 10 suburbs topping the list

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Vacancy rates in the inner and outer Sydney suburbs led a downward shift in available rental properties, however Albury is the most difficult area in which to get a rental across the state, according to the Real Estate Institute of New South Wales statistics.
In the August 2014 REINSW Vacancy Rate Survey, Albury’s vacancy rate increased by 0.1%, but at 1.7% it is the most difficult place to find rental accommodation.
Coffs Harbour saw a 0.3% rise to 3.4%, with the Northern Rivers increasing 1.7% to 3.7%, the highest figure for the area in more than two years.
Inner Sydney in general, however, isn’t far behind with the survey recorded a 0.2% vacancy drop to 1.8%.
REINSW president Malcolm Gunning said that outer Sydney suburbs dropped 0.1% to 1.8%. Middle ring suburbs actually increased by 0.2%, to 2.1%.
“We hit the bottom of the availability trend in March 2014 with 1.4% and have been tracking upwards for the last five months,” said Gunning.
“This decline could really be considered a slight glitch. Over the next few months it is expected that availability will continue to improve as more properties enter the marketplace as a result of the construction boom in Sydney,” he said.
The Hunter’s availability dropped 0.5% to 3.3%, reversing gains made in July, while Newcastle slipped the same amount from 3.2% to 2.7%.
The Illawarra dropped 0.1% to 2.0%, and Wollongong increased 0.1% to 2.2%.
Even vacancy rates in New England slipped, after being at an 11 year high, to 3.5% - a 0.7% drop. Orana continued the trend, falling 1.0% to 2.1%.
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Which New South Wales region has the lowest vacancy rate? (And it's not Sydney)

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New SQM Research vacancy rate figures have seen increases in the vacancy rate nationally, with the only capital recording a decrease being Hobart.
This is the highest result recorded since December 2013.
<a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>’s managing director Louis Christopher said that while this isn’t a “rout” for investors quite yet, it does paint a picture of rents unexpected to rise above inflation over the next 12 months.
“At this stage the market is increasingly favouring tenants across the country,” said Christopher.
“This means that rental yields will continue to fall, thereby reducing the net cash flows for new property investors in the market place.”
Nationally, vacancies are recorded at 2.3% in May or 69,258 nationally.
Melbourne, whose vacancy rate is the highest of the capital cities, sits at 2.7%, while Darwin, Hobart and Adelaide have the tightest vacancy rates – at 1.6%.
Perth recorded the highest year increase – up 0.9% to 2.5%. Sydney recorded a 1.9% vacancy rate.
See over page for the summary table of vacancy rates and their latest changes.
<hr class="system-pagebreak">
Latest recorded vacancy rates
Click to open in new window: 
<a href="/images/2014/07/17/sqm%20july%2019%20one.png" target="_blank"><img src="/images/2014/07/17/sqm%20july%2019%20one.png" alt=""></a>
Source: SQM Research
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Property investors to see net cash flow fall: SQM Research

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Vacancy rate changes are becoming notable within New South Wales and Sydney, and the the June 2014 Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey has noted what is occurring across the state.
REINSW president Malcolm Gunning noted that rates above 2% are considered neutral, and that some areas will be seeing an increase in vacancy rate as new rental accommodation is constructed.
Here are 10 locations in New South Wales notable in the survey.
<ul>
<li>ALBURY</li>
</ul>
Current vacancy rate: 1.1%
The vacancy rate has dropped by 0.5%, and this is down to levels that the REINSW notes they last saw in March 2003 where they dropped to 0.7%.
“Albury is a vibrant regional centre with lots of activity. It is growing and has solid employment opportunities. Less incentives for first homebuyers see people in the area renting for longer or those from metropolitan areas moving to enjoy a tree-change,” Gunning said.
<ul>
<li>ILLAWARRA</li>
</ul>
Current vacancy rate: 1.8%
The Illawarra’s vacancy rate has tightened by 0.1%.
<ul>
<li>WOLLONGONG</li>
</ul>
Current vacancy rate: 2.1%
This is a decrease of 0.3%.
<ul>
<li>HUNTER</li>
</ul>
Current vacancy rate: 3.3%
The area had a drop of 0.1%, led by a 0.4% decrease in Newcastle, to 3.5%.
<ul>
<li>CENTRAL WEST</li>
</ul>
Current vacancy rate: 4.4%
The area is down 0.3%.
<ul>
<li>RIVERINA</li>
</ul>
Current vacancy rate: 3.6%
The area is up 0.3%.
<ul>
<li>COFFS HARBOUR</li>
</ul>
Current vacancy rate: 3.6%
Coffs Harbour is up 0.2%.
See over page for Sydney metro (inner, middle and outer) vacancy rate details.
<hr class="system-pagebreak">
SYDNEY METRO:
Current vacancy rate overall: 1.8%
Across Sydney, the residential vacancy rates were notably unchanged on the whole – with opportunities for those looking for rentals.
Across Sydney’s entirety, the rate dropped 0.1%.
<ul>
<li>INNER</li>
</ul>
Current vacancy rate: 1.9%
<ul>
<li>MIDDLE</li>
</ul>
Current vacancy rate: 2.1% (biggest mover with a 0.4% drop)
<ul>
<li>OUTER</li>
</ul>
Current vacancy rate: 1.5%
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Vacancy rates to know: 10 New South Wales locations

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New figures from SQM Research have seen vacancy rates jumping across the country, to see the national figure hit 2.3%, compared to 2.0%.
It’s the highest vacancy rate recorded for April since the inception of SQM’s index, in 2005,  and SQM's head of research Louis Christopher expects that for some areas this could be about to get worse.
<img src="/images/2014/05/19/vacancy%20may%2019%20one.png" alt="">
As can be seen in the table above, increases were seen across all states and territories in April 2014, compared to March 2014. When compared to the corresponding month in 2013, the story is somewhat more mixed.
Adelaide is down 0.1% since April 2013, and the market is also tighter in Hobart and Melbourne.
Perth and Canberra “are clearly looking sick” Christopher explained to Property Observer, “and I would say Darwin is going to follow suit.”
Melbourne, he noted, is bouncing back after two tight months previously.
“Nevertheless [it’s] more than just coincidence as our asking rents also recording a stagnant rental market,” he said.
National asking rents have remained flat, and over the past 12 months to May the capital city increase for units was just 1.7%, while dropping back 1.5% for houses.
“As we predicted this time last year, rental growth is slowing to the point where we are recording a flat rental market and in some instances significant rental falls as is the case with Perth and Canberra. With the national recovery in building approvals and completions, I can only surmise that the rental market is increasingly going to favour tenants over the next 12 months. And so rental yields for potential property investors will look even less attractive from their current low levels,” Christopher said.
Despite this, the Real Estate Institute of New South Wales’ vacancy rate statistics have seen pressure remain on Sydney’s market, as well as Wollongong, Albury and the Northern Rivers.
However, they also recorded a vacancy rate rise – bringing the number of properties for rent up 0.3% across Sydney, explained REINSW president Malcolm Gunning.
“Inner Sydney vacancy rates remain the tightest, despite an increase of 0.3% to 1.6%. In middle Sydney availability rose 0.4% at 2.0% and outer Sydney was up 0.2% at 1.7%,” said Gunning.
Inner city LGAs include Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra.
Middle Sydney LGAs includes Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.
And outer Sydney includes Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong.
Wollongong vacancy rates are now at lows that were last seen three years ago, said Gunning.
“Wollongong is an attractive proposition for those who wish to relocate from Sydney. Its beachside location is a more affordable option for those who are seeking a more relaxed lifestyle and this is putting pressure on the number of properties available,” he said.
Meanwhile, vacancy rates dropped 0.5% in Albury and the Northern Rivers, while Newcastle’s increased by 0.5%.
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