One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

&nbsp;

&nbsp;

fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

&nbsp;

FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Vacancy Rates

<html><body>
The national residential vacancy rate has jumped to 2.6 per cent in April, up from two per cent in March, according to figures released today by research house SQM Research.
The total number of residential vacancies Australia-wide has hit 88,668, with every state seeing an increase with the exception of Darwin.
<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/2020/5/12/SQM%20vacancies%201.jpg" alt="">
It was the CBD and holiday markets which saw the biggest jumps, with Sydney's vacancy rate now nearly 14 per cent in the city.
SQM Research managing director Louis Christopher said the vacancy rate rise was one of the largest one month rises record on their vacancy rate series
"The blow out in rental vacancy rates for the major CBDs suggests a mass exodus of tenants occurred over the course of March and April", Christopher said. 
"This might be attributed to the significant loss in employment in our CBDs plus the drop off in international students.  
"We are well aware of a surge in short term accommodation now being advertised for long term leasing. 
<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/2020/5/12/SQM%20vacancies%202.jpg" alt="">
Christopher said the question is now how long will we see such high rental vacancies. 
"If it is sustained throughout the course of the year, then we can expect far deeper falls in rents which will be good news for tenants but a disaster for landlords," Christopher suggested. 
"There will also be economic consequences with further sharp falls in building approvals likely; thereby risking a major depression in our residential construction sector as well as the rather obvious risks for housing prices.”
Over the month, capital city asking rents decreased 1.3 per cent for houses and remained stable for units for the week ending 12 May 2020, with asking rents of $537 per week for houses and $428 per week for units. 
Sydney, Melbourne and Perth all recorded decreases in asking rents for both houses and units over the month, while Brisbane, Canberra and Hobart recorded decreases in house asking rents but minor increases in unit asking rents
Adelaide bucked the trend and recorded rent increases for both houses and units of 0.1% and 1.4%.   
In terms of popular holiday markets, Surfers Paradise recorded a vacancy rate of 8.5 per cent, and Noosa's usually tight vacancy rate shot to 6.8 per cent.
 
</body></html>

jrobinson-rf4aSBido9

National residential rental vacancy jumps to 2.6 per cent in April: SQM Research

<html><body>
<div>EXPERT OBSERVER</div>
<div> </div>
<div>The national residential vacancy rate was stable at 2 per cent in March.</div>
<div> </div>
<div>This represents a slight decline from a year earlier, when the vacancy rate was 2.1 per cent.</div>
<div> </div>
<div>Only Melbourne and Hobart had higher vacancy rates than a year earlier. </div>
<div> </div>
<div>Given that properties need to be advertised for 3 weeks before being classified as vacant, there's more likely to be a jump in April as Airbnb operators and other short-term accommodation providers are forced to try more conventional routes for leasing their properties.</div>
<div> </div>
<div>The 6-month moving average by capital city is plotted below, not seasonally adjusted:</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-zJdu7a0K0QU/XpT_eswSm-I/AAAAAAAA1Og/-dMPxJ-RFect1lCV6nMdBke9TtLGEwfkwCNcBGAsYHQ/s640/SQM1.jpg" width="640" height="364" data-original-height="806" data-original-width="1414"></div>
<div> </div>
<div>With more short-term units hitting the market the median asking rental price was down in March.</div>
<div>
 PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Residential vacancy rates down to 2 percent: Pete Wargent

<html><body>
New data released by SQM Research today has revealed the national residential rental vacancy rate decreased in January 2020 to 2.1% from 2.5% recorded in December, with the total number of vacancies Australia-wide now at 72,422 vacant residential properties.
All states recorded decreases in vacancy rates with Darwin recording the highest vacancy rate at 3.2% followed by Sydney at 3.1%. Hobart’s vacancy rate remains steady at 0.6%, the lowest of all capital cities.
Adelaide and Canberra also recorded low vacancy rates of 1.0% and 1.4% respectively.'
<img src="https://www.urban.com.au/images/2020/2/18/Vacancy%20rates%20tumble%201.JPG" alt="">
The year on year comparison revealed a more moderate decline. The national rental vacancy rate back in January 2019 was 2.2% compared to 2.1% recorded for January 2020. Melbourne, Canberra and Hobart recorded higher vacancy rates compared to this time last year.
Managing Director of SQM Research, Louis Christopher said, "Following on from December, January’s vacancy rates are also affected by seasonality. We will have a clear picture of the rental market when the numbers for February are released."
"However, we do believe that rental vacancy rates have now peaked in Sydney, Brisbane, Perth and Darwin. And assuming a stable economy, these cities are likely to record gradually lower vacancy rates as 2020 progresses.”
Asking Rents
<img src="https://www.urban.com.au/images/2020/2/18/Vacancy%20rates%20tumble%202.JPG" alt="">
Over the month, Capital city asking rents increased 2.5% for houses and 1.1% for units for the week ending 12 February 2020 to record asking rents of $569 per week for houses and $442 per week for units. In comparison over the 12 months, asking rents increased 1.6% for houses and remained steady for units.
Sydney, Melbourne and Perth all recorded increases in asking rents for both houses and units over the month.
Darwin and Hobart recorded decreases in both house and unit asking rents. Darwin had a 2.9% decline for houses and 2.5% for units whilst Hobart recorded 2.5% decline in houses and 1.4% in unit asking rents.
Brisbane recorded a decrease in house asking rents of 0.4% but increases of 0.2% in unit rents. Canberra and Adelaide had a reverse trend of increases in house rents but decrease in unit rents.
</body></html>

Vacancy rates fell across Australia reaching record lows in some states: SQM Research

<html><body>
Rental prices continue to grow in Victoria as the cycle of low vacancy rates continues.
The <a href="https://reiv.com.au/policy-resources/latest-news/no-ease-for-victorian-renters-as-vacancy-rates-stay-low" target="_blank">monthly rental data</a> from the REIV shows median rental house prices have shot up across Melbourne by $10, with units climbing also by $10 since October 2019.
This follows a vacancy rate of 2.2% for Melbourne last month.
<img src="https://www.urban.com.au/images/2019/12/16/REIV%20vacancy%20rates%201.JPG" alt=""> <img src="https://www.urban.com.au/images/2019/12/16/REIV%20vacancy%20rates%202.JPG" alt="">
REIV President Leah Calnan said a lack of housing has led to renters paying a premium.
Ms Calnan said, “healthy vacancy rates should be around 4%; most of the state is sitting at 1 or 2%, increasing demand has led to rental price climbing.”
With changes to the Residential Tenancy Act coming in next year; landlords remain confused and cautious about losing control over their investment, she warned. 
“Our members have reported to us that many homes have been sold or are being kept off the market, leading to a surge in housing demand.”
“The State Government needs to do more to work with landlords and encourage them to rent out their investment homes.”
“New rental homes are being leased out in record time, therefore more owners should be encouraged to put their property on the rental market," Ms Calnan said.
The REIV has had a working committee analyse the proposed Residential Tenancies Regulation in great detail and has made an official submission to the State Government. “The legislation takes control away from property owners; many landlords are nervous about changes to the investment property they worked so hard to purchase. If rental housing stocks are impacted further, this legislation will make it harder for a tenant to get a rental home.” “If rental shortages continue to worsen, we have great concerns that the most vulnerable in our society will suffer, many families who are unable to obtain a rental home will be forced onto the streets, placing more pressure on welfare groups and charities.”
</body></html>

REIV says Victoria's vacancy rates are far from "healthy"

<html><body>
The national residential rental vacancy rate remained steady in October at 2.1 per cent 
The total number of vacancies across the country is now at 69,951, up two per cent from October 2018's 67,337 vacant dwellings 
Sydney, Adelaide and Hobart recorded minor decreases in vacancy rates over the month, dropping 0.1 per cent.
<img src="https://gallery.mailchimp.com/9badbd870addb4af72206c2eb/images/a62dd82f-9411-474a-b41b-850868305569.png" width="600" height="229">
Source: SQM
Both Brisbane and Canberra increased by 0.1 per cent, with Melbourne remaining steady at 2.0 per cent.
Hobart continues to have the lowest vacancy rate in the country at 0.5 per cent, although Adelaide is not far behind with a low 0.8 per cent vacancy rate.  
Sydney and Darwin recorded the highest vacancy rate, both at 3.1%.
 
</body></html>

wdavis-8cCN98p7xp

Vacancy rates remain steady in October: SQM Research

<html><body>
Data released by SQM Research has revealed the national residential vacancy rate edged lower to 2.1% in September 2019, down from 2.2% in August, with the number of vacancies dropping in most cities. 
The SQM Research data suggest the number of vacancies Australia-wide sat at 71,404 properties.
Sydney’s vacancy rate dropped to 3.2% in from 3.4% in August with 22,762 properties available for rent.
Melbourne’s vacancy rate was steady at 2.0% with 11,599 rental properties available while in Brisbane, the vacancy rate fell to 2.3% in September from 2.5% with 7,880 properties available for rent.
<a href="https://www.propertyobserver.com.au/images/2019/10/15/vacancies%20.jpg" target="_blank">Click here </a>to enlarge:
 <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/2019/10/15/vacancies%20.jpg" alt=""> 
Source: SQM Research
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.
SQM considers this to be a superior methodology compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised. 
Canberra’s rental market remained tight, with the vacancy rate falling to 1.0%, down from 1.2%.
Hobart’s rate rose was steady at 0.6%.
Perth’s vacancy rate edged lower to 2.7% from 2.9% in August, but is well down from 3.6% a year ago.  
Darwin’s vacancy rate was steady at 2.9%, but well down from 3.6% a year ago. Adelaide's fell slightly to 0.9% from 1.0%.
Louis Christopher, Managing Director of SQM Research, said: “It was a better month for leasing in August, especially in the cities of Brisbane, Perth, Adelaide and Canberra.
 “Sydney also had a relatively good month as well, but vacancies in Sydney still remain elevated and are still predicted to rise before the year is over. Perth and Brisbane are likely to continue to record falls in vacancies over the short to medium term due to current low dwelling completion activity verses increased underlying demand.”
Asking Rents
Despite the rise in vacancies, capital city asking rents for houses were steady over the month to 12 October 2019 at $544 a week.
Unit asking rents, however, fell 0.7% to $435 a week. Over the year, asking rents for houses rose fell 1.4% while unit asking rents slipped 0.5%. 
Despite the upward pressure on the vacancy rate and falling rents in Sydney, the asking rent for a three-bedroom house in Sydney remains the highest nationwide at $672 a week and $496 a week for two-bedroom units.
Asking unit rents were down 0.3% in Sydney over the month while asking house rents fell 0.6%.
Asking rents in Melbourne for houses rose 2.0% over the month to $527 a week while asking rents for units fell 1.0% to $411.
<table style="width: 324px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="6" valign="top" width="324">
SQM Research Weekly Rents Index
</td>
</tr>
<tr>
<td colspan="2" valign="top" width="171">
Week ending 12 Oct 2019
</td>
<td valign="top">
Rent
</td>
<td valign="top">
Chg on prev wk
</td>
<td valign="top">
Rolling month % chg
</td>
<td valign="top">
12 mth % chg
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Sydney
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
671.6
</td>
<td valign="top" nowrap>
-0.6  
</td>
<td valign="top" nowrap>
-0.7%  
</td>
<td valign="top" nowrap>
-6.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
496.3
</td>
<td valign="top" nowrap>
-0.3  
</td>
<td valign="top" nowrap>
-0.3%  
</td>
<td valign="top" nowrap>
-3.2%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Melbourne
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
527.0
</td>
<td valign="top" nowrap>
2.0  
</td>
<td valign="top" nowrap>
0.4%  
</td>
<td valign="top" nowrap>
0.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
411.0
</td>
<td valign="top" nowrap>
-1.0  
</td>
<td valign="top" nowrap>
-1.8%  
</td>
<td valign="top" nowrap>
1.2%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Brisbane
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
462.4
</td>
<td valign="top" nowrap>
-1.4  
</td>
<td valign="top" nowrap>
-0.8%  
</td>
<td valign="top" nowrap>
2.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
379.2
</td>
<td valign="top" nowrap>
-0.2  
</td>
<td valign="top" nowrap>
0.3%  
</td>
<td valign="top" nowrap>
2.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Perth
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
443.0
</td>
<td valign="top" nowrap>
0.0  
</td>
<td valign="top" nowrap>
0.6%  
</td>
<td valign="top" nowrap>
4.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
336.7
</td>
<td valign="top" nowrap>
0.3  
</td>
<td valign="top" nowrap>
-0.3%  
</td>
<td valign="top" nowrap>
4.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Adelaide
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
396.5
</td>
<td valign="top" nowrap>
-0.5  
</td>
<td valign="top" nowrap>
-0.7%  
</td>
<td valign="top" nowrap>
2.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
309.6
</td>
<td valign="top" nowrap>
0.4  
</td>
<td valign="top" nowrap>
-0.8%  
</td>
<td valign="top" nowrap>
3.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Canberra
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
615.2
</td>
<td valign="top" nowrap>
2.8  
</td>
<td valign="top" nowrap>
2.0%  
</td>
<td valign="top" nowrap>
-1.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
462.1
</td>
<td valign="top" nowrap>
-0.1  
</td>
<td valign="top" nowrap>
0.6%  
</td>
<td valign="top" nowrap>
4.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Darwin
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
519.1
</td>
<td valign="top" nowrap>
-4.1  
</td>
<td valign="top" nowrap>
1.2%  
</td>
<td valign="top" nowrap>
2.8%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
381.6
</td>
<td valign="top" nowrap>
-0.6  
</td>
<td valign="top" nowrap>
0.4%  
</td>
<td valign="top" nowrap>
-3.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Hobart
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
435.4
</td>
<td valign="top" nowrap>
-2.4  
</td>
<td valign="top" nowrap>
-1.7%  
</td>
<td valign="top" nowrap>
2.3%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
403.6
</td>
<td valign="top" nowrap>
4.4  
</td>
<td valign="top" nowrap>
-2.1%  
</td>
<td valign="top" nowrap>
11.7%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
National
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
442.0
</td>
<td valign="top" nowrap>
-1.0  
</td>
<td valign="top" nowrap>
0.0%
</td>
<td valign="top" nowrap>
0.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
363.0
</td>
<td valign="top" nowrap>
-2.0  
</td>
<td valign="top" nowrap>
-0.8%  
</td>
<td valign="top" nowrap>
2.3%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="81">
Cap City Average
</td>
<td valign="top" nowrap>
All Houses
</td>
<td valign="top" nowrap>
544.0
</td>
<td valign="top" nowrap>
2.0  
</td>
<td valign="top" nowrap>
0.0%
</td>
<td valign="top" nowrap>
-1.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap>
All Units
</td>
<td valign="top" nowrap>
435.0
</td>
<td valign="top" nowrap>
0.0
</td>
<td valign="top" nowrap>
-0.7%  
</td>
<td valign="top" nowrap>
-0.5%  
</td>
</tr>
</tbody></table>
Source: <a href="http://www.sqmresearch.com.au/" target="_blank" style="text-align: left;">www.sqmresearch.com.au</a>
</body></html>

National vacancy rate dips in September to 2.1 percent: SQM Research 

<html><body>
Data released by SQM Research today has revealed the national residential rental vacancy rate remained steady in July 2019 at 2.3% from June.
The total number of vacancies Australia-wide is now at 76,346 vacant residential properties, a decrease of 2,344 over the month but up 3,888 dwellings over the past 12 months.
Brisbane and Adelaide recorded minor decreases of 0.1% in vacancy rates, whilst Perth, Canberra and Darwin recorded a 0.2% decrease over the month.
Sydney, Melbourne and Hobart’s vacancy rate remained steady over the month.
SQM found that Sydney continues to have the highest vacancy rate in the country at 3.5%, this time last year the rate was lower at 2.8%. Melbourne remained at 2.0% in July, increasing from 1.6% 12 months ago.
Hobart’s vacancy rate was also steady in July and continues to be the lowest in the country at 0.5%.
<img src="https://www.urban.com.au/images/2019/8/13/SQM%20Rental%20Vacancy%20Rates%20July.JPG" alt="">
The Managing Director of SQM Research, Louis Christopher said, “while rental vacancy rate held steady in Sydney and Melbourne, they fell in most other cities over July."
"Perth continues to record a recovery in its rental market which should eventually feed through into a rise in dwelling prices. After a false dawn, Darwin also appears to be recording tentative signs of a rental recovery."
"Going forward, the expectation remains that Sydney and Melbourne will record higher rental vacancy rates in the 2nd half of this year driven by ongoing high levels of dwelling completions from the tail of the last property boom,” he added.
Asking Rents
Capital city asking rents declined 0.5% for houses and 0.7% for units for the week ending 12 August 2019 to record asking rents of $546 per week for houses and $438 per week for units.
In comparison, over the 12 months, asking rents for houses declined 0.4% for houses and a 0.5% decline for units.
Sydney asking rents for houses declined in July by 0.6%, however houses increased by 0.2%. Canberra and Melbourne saw a decline in both houses and units to 12 August, with Melbourne rents dropping 1.9% for houses and 0.3% for units, whilst Canberra rents dropped 2.5% for houses and 0.4% for units.
Brisbane was the only capital city to record increases in weekly rents over the month for both houses and units at 0.1% for both.
</body></html>

National residential vacancy rates steady in July: SQM Research

<html><body>
The national residential rental vacancy rate increased in June to 2.3%, an increase from 2.2% in May, according to data from SQM Research.
The total number of vacancies Australia-wide is now at 78,690, an increase of 3,597 over the month and up 2,933 dwellings over the past 12 months. 
The rise was driven by Sydney, where vacancy rates have risen to 3.5%, the highest they have been since 2005. There are now nearly 25,000 vacant dwellings in the capital.
Melbourne also recorded a 0.2% increase over the month, taking their rental vacancy to 2%.
Darwin was the only capital city to record a decrease of 0.2% to 3.1% in vacancy rates. The only other capital with a vacancy rate over 3% is Perth (3.2%).
Hobart’s vacancy rate remains steady at 0.5% and continues to record the lowest in the country with just 161 vacancies.
<table style="width: 99%;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="12%">
City
</td>
<td width="13%">
June 2018 Vacancies
</td>
<td width="15%">
June 2018 Vacancy Rate
</td>
<td width="14%">
May 2019 Vacancies
</td>
<td width="14%">
May 2019 Vacancy Rate
</td>
<td width="14%">
June 2019 Vacancies
</td>
<td width="14%">
June 2019 Vacancy Rate
</td>
</tr>
<tr>
<td nowrap width="12%">
Sydney
</td>
<td nowrap width="13%">
19,572 
</td>
<td nowrap width="15%">
2.8%
</td>
<td nowrap width="14%">
23,796 
</td>
<td nowrap width="14%">
3.3%
</td>
<td nowrap width="14%">
24,931 
</td>
<td nowrap width="14%">
3.5%
</td>
</tr>
<tr>
<td nowrap width="12%">
Melbourne
</td>
<td nowrap width="13%">
9,035 
</td>
<td nowrap width="15%">
1.6%
</td>
<td nowrap width="14%">
10,349 
</td>
<td nowrap width="14%">
1.8%
</td>
<td nowrap width="14%">
11,720 
</td>
<td nowrap width="14%">
2.0%
</td>
</tr>
<tr>
<td nowrap width="12%">
Brisbane
</td>
<td nowrap width="13%">
9,886 
</td>
<td nowrap width="15%">
3.0%
</td>
<td nowrap width="14%">
8,133 
</td>
<td nowrap width="14%">
2.4%
</td>
<td nowrap width="14%">
8,526 
</td>
<td nowrap width="14%">
2.5%
</td>
</tr>
<tr>
<td nowrap width="12%">
Perth
</td>
<td nowrap width="13%">
8,426 
</td>
<td nowrap width="15%">
4.1%
</td>
<td nowrap width="14%">
6,457 
</td>
<td nowrap width="14%">
3.1%
</td>
<td nowrap width="14%">
6,732 
</td>
<td nowrap width="14%">
3.2%
</td>
</tr>
<tr>
<td nowrap width="12%">
Adelaide
</td>
<td nowrap width="13%">
2,726 
</td>
<td nowrap width="15%">
1.5%
</td>
<td nowrap width="14%">
2,126 
</td>
<td nowrap width="14%">
1.1%
</td>
<td nowrap width="14%">
2,310 
</td>
<td nowrap width="14%">
1.2%
</td>
</tr>
<tr>
<td nowrap width="12%">
Canberra
</td>
<td nowrap width="13%">
565 
</td>
<td nowrap width="15%">
0.9%
</td>
<td nowrap width="14%">
785 
</td>
<td nowrap width="14%">
1.2%
</td>
<td nowrap width="14%">
847 
</td>
<td nowrap width="14%">
1.3%
</td>
</tr>
<tr>
<td nowrap width="12%">
Darwin
</td>
<td nowrap width="13%">
1,062 
</td>
<td nowrap width="15%">
3.5%
</td>
<td nowrap width="14%">
1,038 
</td>
<td nowrap width="14%">
3.3%
</td>
<td nowrap width="14%">
965 
</td>
<td nowrap width="14%">
3.1%
</td>
</tr>
<tr>
<td nowrap width="12%">
Hobart
</td>
<td nowrap width="13%">
221 
</td>
<td nowrap width="15%">
0.7%
</td>
<td nowrap width="14%">
143 
</td>
<td nowrap width="14%">
0.5%
</td>
<td nowrap width="14%">
161 
</td>
<td nowrap width="14%">
0.5%
</td>
</tr>
<tr>
<td nowrap width="12%">
National
</td>
<td nowrap width="13%">
75,757 
</td>
<td nowrap width="15%">
2.3%
</td>
<td nowrap width="14%">
75,093 
</td>
<td nowrap width="14%">
2.2%
</td>
<td nowrap width="14%">
78,690 
</td>
<td nowrap width="14%">
2.3%
</td>
</tr>
</tbody></table>
Source: SQM Research 
Managing Director of SQM Research, Louis Christopher said, “The increase in rental vacancies in June tends to be a seasonal rise for the start of winter however Sydney’s increases goes beyond seasonal factors and so our expectation remains that Sydney will reach a 4% vacancy rate before 2019 is completed.”
“Melbourne is also likely to record more rises in rental vacancies as newly completed dwellings purchased as ‘off-the-plan’ in the last boom, enter the rental market now.” 
“In spite of the rise in vacancies this month, Brisbane, Adelaide and Hobart’s rental market is in favour for landlords as in these cities have also recorded moderate increases in asking rents for the month and continue to record muted dwelling completions.” 
Asking Rents
Capital city asking rents declined 0.4% for houses but remained steady for units for the week ending 12 July 2019 to record asking rents of $551 per week for houses and $441 per week for units.  
In comparison, over the 12 months, asking rents for houses increased 0.4% but declined 0.7% for units.
Sydney and Melbourne’s asking rents for houses and units both declined in July. Sydney rents dropped 0.5% for houses and 0.2% for units to 12 July and Melbourne’s drop was 0.9% for houses and 0.2% for units.  
Brisbane, Adelaide and Hobart were the only states to experience increases in weekly rents for both houses and units.
Adelaide’s house rents increased 1.1% and units by 0.4%, Brisbane’s house rents increased by 1.0% units increased by 0.7%.
Hobart’s house rents increased 3.6% and units increased by 4.9% (the highest among all states)
<div align="center">
<table style="width: 426px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="6" valign="top" width="426">
SQM Research Weekly Rents Index
</td>
</tr>
<tr>
<td colspan="2" width="169">
Week ending:  12 July 2019
</td>
<td width="49">
Rent
</td>
<td width="67">
Change on prev week
</td>
<td width="83">
Rolling month % change
</td>
<td width="59">
12 month % change
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=nsw-Sydney&amp;type=c&amp;t=1" target="_blank">Sydney</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
685.9
</td>
<td valign="top" nowrap width="67">
2.1  
</td>
<td valign="top" nowrap width="83">
-0.5%  
</td>
<td valign="top" nowrap width="59">
-3.3%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
501.7
</td>
<td valign="top" nowrap width="67">
-0.7  
</td>
<td valign="top" nowrap width="83">
-0.2%  
</td>
<td valign="top" nowrap width="59">
-3.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=vic-Melbourne&amp;type=c&amp;t=1" target="_blank">Melbourne</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
534.9
</td>
<td valign="top" nowrap width="67">
-0.9  
</td>
<td valign="top" nowrap width="83">
-0.9%  
</td>
<td valign="top" nowrap width="59">
2.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
423.2
</td>
<td valign="top" nowrap width="67">
0.8  
</td>
<td valign="top" nowrap width="83">
-0.2%  
</td>
<td valign="top" nowrap width="59">
2.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=qld-Brisbane&amp;type=c&amp;t=1" target="_blank">Brisbane</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
464.5
</td>
<td valign="top" nowrap width="67">
1.5  
</td>
<td valign="top" nowrap width="83">
1.0%  
</td>
<td valign="top" nowrap width="59">
2.8%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
374.6
</td>
<td valign="top" nowrap width="67">
0.4  
</td>
<td valign="top" nowrap width="83">
0.7%  
</td>
<td valign="top" nowrap width="59">
1.1%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=wa-Perth&amp;type=c&amp;t=1" target="_blank">Perth</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
435.7
</td>
<td valign="top" nowrap width="67">
-3.7  
</td>
<td valign="top" nowrap width="83">
-2.9%  
</td>
<td valign="top" nowrap width="59">
2.6%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
339.3
</td>
<td valign="top" nowrap width="67">
1.7  
</td>
<td valign="top" nowrap width="83">
0.9%  
</td>
<td valign="top" nowrap width="59">
4.1%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=sa-Adelaide&amp;type=c&amp;t=1" target="_blank">Adelaide</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
399.9
</td>
<td valign="top" nowrap width="67">
0.1  
</td>
<td valign="top" nowrap width="83">
1.1%  
</td>
<td valign="top" nowrap width="59">
4.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
309.7
</td>
<td valign="top" nowrap width="67">
0.3  
</td>
<td valign="top" nowrap width="83">
0.4%  
</td>
<td valign="top" nowrap width="59">
3.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=act-Canberra&amp;type=c&amp;t=1" target="_blank">Canberra</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
624.0
</td>
<td valign="top" nowrap width="67">
-2.0  
</td>
<td valign="top" nowrap width="83">
0.9%  
</td>
<td valign="top" nowrap width="59">
-1.1%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
461.5
</td>
<td valign="top" nowrap width="67">
0.5  
</td>
<td valign="top" nowrap width="83">
-0.2%  
</td>
<td valign="top" nowrap width="59">
5.0%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=nt-Darwin&amp;type=c&amp;t=1" target="_blank">Darwin</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
527.8
</td>
<td valign="top" nowrap width="67">
-0.8  
</td>
<td valign="top" nowrap width="83">
3.0%  
</td>
<td valign="top" nowrap width="59">
-2.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
369.3
</td>
<td valign="top" nowrap width="67">
1.7  
</td>
<td valign="top" nowrap width="83">
-0.4%  
</td>
<td valign="top" nowrap width="59">
-8.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=tas-Hobart&amp;type=c&amp;t=1" target="_blank">Hobart</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
450.6
</td>
<td valign="top" nowrap width="67">
9.4  
</td>
<td valign="top" nowrap width="83">
3.6%  
</td>
<td valign="top" nowrap width="59">
13.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
407.8
</td>
<td valign="top" nowrap width="67">
4.2  
</td>
<td valign="top" nowrap width="83">
4.9%  
</td>
<td valign="top" nowrap width="59">
17.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?national=1&amp;t=1" target="_blank">National</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
442.0
</td>
<td valign="top" nowrap width="67">
1.0  
</td>
<td valign="top" nowrap width="83">
0.2%  
</td>
<td valign="top" nowrap width="59">
2.3%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
368.0
</td>
<td valign="top" nowrap width="67">
2.0  
</td>
<td valign="top" nowrap width="83">
-0.5%  
</td>
<td valign="top" nowrap width="59">
3.7%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="98">
<a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?avg=1&amp;t=1" target="_blank">Cap City Average</a>
</td>
<td valign="top" nowrap width="70">
All Houses
</td>
<td valign="top" nowrap width="49">
551.0
</td>
<td valign="top" nowrap width="67">
2.0  
</td>
<td valign="top" nowrap width="83">
-0.4%  
</td>
<td valign="top" nowrap width="59">
0.4%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="70">
All Units
</td>
<td valign="top" nowrap width="49">
441.0
</td>
<td valign="top" nowrap width="67">
 0.0  
</td>
<td valign="top" nowrap width="83">
0.0%
</td>
<td valign="top" nowrap width="59">
-0.7%  
</td>
</tr>
</tbody></table>
</div>
Source:<a href="http://www.sqmresearch.com.au/" target="_blank">www.sqmresearch.com.au</a>
Key Points
<ul>
<li>National residential vacancy rates increased in June 2019 to 2.3%, an increase from 2.2% in May</li>
<li>Sydney has recorded the highest of all capital cities at 3.5% vacancy rate, and a decrease in weekly rents of 0.5% for houses and 0.2% for units.</li>
<li>Hobart’s vacancy rate remains steady at 0.5% and continues to record the lowest vacancy rate in the country.</li>
<li>Capital city asking rents declined 0.4% for houses but remained steady for units for the week ending 12 July 2019 to record asking rents of $551 per week for houses and $441 per week for units.  </li>
</ul>
</body></html>

National vacancy rates increase marginally in June: SQM Research

<html><body>
Perth’s residential market is now at a turning point, according to a new report.
Vacancy is below the supply equilibrium at 3% and several market drivers - including a growing population, an improving WA economy on the back of a resurgent mining sector, and first home owner grants - are likely to underpin further demand, according to independent valuer and advisor m3property. 
Commenting following the release of its latest National Residential Development 2019 report, m3property national director residential development, Luana Kenny, said the Perth market was no longer considered to be oversupplied. 
"After peaking at 7.3% in June 2017, Perth dwelling vacancy fell to 2.8% in December 2018 which is below the supply equilibrium (according to REIWA)," said Kenny.
"While pockets of oversupply remain, Perth looks to have turned the corner. 
"With the population growing at an average 32,000 people per annum and the potential for additional growth as a result of potential changes to Federal immigration policy and growth in the mining sector, the five year outlook is looking decidedly positive. 
"We have already seen significant growth in lot prices since mid-2018 and that will ultimately drive up dwelling values."
She said house prices were expected to rise by 1% to 3% in 2019 and increase by 2% to 6% over the next five years, however new apartment supply, including the revitalisation of Elizabeth Quay, may result in an oversupply of apartments and a fall in prices in that sector over the medium-term. 
According to the report population growth is expected to increase by 1% to 1.8% per annum until 2027 (22,800-42,700 people per annum), while changes to immigration policy designed to push new migrants out of Sydney and Melbourne may result in further increases keeping vacancy fairly stable over the next five years. 
<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/2019/4/11/perth%20.jpg" alt=""> 
M3property national director research, Jennifer Williams, said Perth could well see more growth in land values driven by the WA Government’s focus on in-fill development sites. 
"We have seen double digit growth in land values in the six months to December 2018, and with the State Government focused on infill development, which is expected to limit the release of greenfield sites, we may see further upward pressure on land values over the next five years," Williams said. 
She said demand for infill land is expected to account for around 45% of new sites by 2023 according to the WA government. 
"Higher price points are likely to make infill developments more attractive to developers and authorities looking to capitalise on existing infrastructure and that should result in upward pressure on dwelling values," Ms Williams said.
Williams said the First Home Owners (FHO) Grant was still available in WA.
As of November 2018, first home buyers accounted for 25% of dwelling finance according to the ABS, and was expected to continue to rise as a percentage of total buyers in Perth, accounting for 27% of all dwelling finance approvals by late 2019. 
"The FHO grant will be another factor that will help to drive price growth in 2019 as buyers seek to take advantage of a greater level of affordability in the market," Williams said.
</body></html>

Perth at a turning point as vacancy dips

<html><body>
Vacancy rates were steady in May, SQM Research has revealed.
The national residential vacancy rate was unchanged at 2.1% in May 2018, with the number of vacancies Australia-wide sitting at 69,152 properties.
The vacancy rate inched higher in Sydney and Melbourne, while it fell in Brisbane for the fifth straight month.
Sydney’s vacancy rate rose to 2.5% in May, up from 2.3% in April, and higher than 1.7% a year earlier.
Melbourne also saw its vacancy rate inch higher to 1.4%, up from 1.3% in April.
Canberra’s rate was steady at 0.8%, though down from 1.0% a year earlier.
Click to enlarge
<img src="https://www.urban.com.au/images/2018/6/21/Vacancy%20rates%20in%20june%20SQM.JPG" alt="">
SQM's Louis Christopher said there was good news for property investors in Brisbane, where the vacancy rate fell to 2.9% in May, down from 3.0% in April and 3.5% in May 2017.
"The decline in Brisbane represents the fifth straight monthly decline in rental vacancies," he said.
“We have more evidence that the worse is over for Brisbane property investors with vacancies falling for five straight months and even the Brisbane CBD is now recording consistent decline in vacancies. 
"We believe that a rise in interstate migration is lifting population growth rates in Brisbane plus the peak in unit completions is creating this turnaround in the rental market,” he said.
Hobart's vacancy rate was steady at 0.7%, but up from 0.5% a year ago.
Darwin’s vacancy rate rose to 3.5% from 3.3% in April.
Perth’s vacancy rate was steady at 4.1%, but down from 5.1% a year earlier as the oversupply of rental properties eases in that city.
Adelaide’s vacancy rate was also steady at 1.3%, but down from 1.7% a year ago.
Christopher, the managing director of SQM Research, said asking rents had eased in Sydney with greater supply of rental accommodation, giving some relief to home seekers.
“There are considerably more vacancies in Sydney now compared to a year ago, so landlords have lowered their asking rents slightly, which is favouring renters," stated Mr. Christopher
Capital city asking rents for houses fell over the month to 12 June 2018 by 0.5% to $551 a week.
Unit asking rents slipped 0.2% to $444 a week.
Over the year, asking house rents rose just 0.4%, while unit asking rents rose modestly by 0.9%.
While the asking rent for a three-bedroom house in Sydney remains the highest in the nation at $715 a week, rents fell 1.6% over the month to June 12, with the upward trend in the vacancy rate easing pricing pressures.
Asking unit rents now stand at $523, down by 0.5% over the month.
Canberra is catching up to Sydney with housing asking rents now standing at $631 a week and 451 for units, after growth of 2.1% for houses and units over the month.
In Melbourne, asking rents for houses were down over the month to June 12 by 0.8% to $529 while unit asking rents rose by 0.5% to $412.
In line with the fall in vacancies, Brisbane rents registered a rise for the past 30 days with rents for houses rising by 0.8% to $450 a week and units rising by 0.4% to $369 a week.
</body></html>

Vacancy Rates

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Vacancy Rates

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News