Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

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&nbsp;

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<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/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

Vacancy

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The Brisbane office market is facing a perfect storm.
A sobering report by forecaster BIS Shrapnel is predicting the sunshine state to be hit with an oversupply of stock for the next decade, along with a vacancy rate set to reach 18% plus in 2016.
The city's looming oversupply woes was just one of the topics examined in the Brisbane office market report. It looked at the strength of leasing and investor demand, all of which pointed to a challenging few years for the market.
Not mincing it's words, BIS Shrapnel said: "there’s a perception that further oversupply in the Brisbane CBD office market may be averted by withdrawing secondary buildings for conversion to residential or short term accommodation uses".
"While there are perhaps a handful of suitable candidates, it will be a case of too little too late."
The report warned that because of that oversupply pressure, rents and property values will take a hit. 
<img src="/images/2014/04/29/chart-of-the-week-april-29.-breakout.jpg" alt="">
Author of the report, Christian Schilling, said there were three towers currently under way in the CBD that would add another 186,000 square metres of new space before the end of 2016, equal to 9% of current stock. 
In contrast, withdrawals for conversion or re- development expected over the same time horizon, he noted,  sum to just 72,000 square metres, or 120,000 square metres to the end of 2017.
"On balance, that is still one tower too many", he said. "And this is on top of weak demand and a vacancy rate of 14.2% at January this year".
Among some of the buildings slated as withdrawals in the report were 80 Albert Street,plus a number of buildings to be vacated by the state government over the next three and a half years, which include Health House, 80 George Street, the Executive Building, the Executive Annex, Neville Bonner Building and Forestry House. The Primary Industries Building was also flagged as a potential withdrawal for redevelopment, along with some odd small buildings for conversion to residential or short term accommodation. 
Against this backdrop, BIS Shrapnel is also forecasting demand to be weak in the near, with the CBD expected to suffer "a triple hit in the form of the Government’s release of surplus space, tenants leaving for the fringe, and falling mining investment".
The forecaster estimates that since 2012, cuts to the public service and it's accommodation have resulted in 120,000 square metres of surplus space in the CBD, plus a further 20 square metres in the fringe, all of which the government intends to release as lease expire.
It is forecasting another 70,000 square metres of space to be released in the CBD over the next 3 years.
Compounding the situation, it notes is the space vacated by BOQ, Ventyx, Flight Centre and Robert Bird Group, all of which are leaving the CBD for the fringe, resulting in more than 40,000 square metres of vacated space.
Also constraining demand, it added, was the downturn in mining investment.
“I don’t want to talk the market down, but it’s simple maths”, said Schilling. “Unless mining investment takes off again, which is highly unlikely to happen over the next three years, vacancy rates will blow out to over 18% in 2016.”
As such, he believes, the Brisbane office market would represent a very challenging environment for building owners, developers and investors.
"Anyone contemplating investing in Brisbane in the short term should think carefully about the potential consequences, as the market weakness is likely to persist for the rest of this decade”, Mr Schilling warned. 
Photo courtesy of <a class="owner-name truncate" href="https://www.flickr.com/photos/burningimage/" target="_blank" title="Go to Nam Nguyen's photostream" data-track="attributionNameClick" data-rapid_p="21">Nam Nguyen</a>/Flickr.
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kjiminez-eaYKfU7qd2

Oversupply and vacancy rate creating a perfect storm for Brisbane office market

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Demand
Some time ago I went for dinner for a friend's birthday at a restaurant in Surry Hills and when the conversation got on to real estate, as it does in Sydney all too often, the lass sitting next to me who had only recently moved to Sydney (living in the inner west) said: 
"You know, I can't see property prices falling around here - there's just so much demand for property and not enough of it".
I had to laugh inwardly to myself, as I wondered how someone who'd been looking for an apartment since moving to the harbour city for all of about three weeks had been able to grasp what plenty of economists - and for that matter property market commentators - never venture to get a handle on. 
That is, how tight Sydney's property market is in those popular suburbs where the supply is all but fixed. As it transpired, she was correct, with prices in the inner west rising relentlessly since that time and vacancy rates remaining wretchedly tight.
<blockquote>
In the right Sydney suburbs where supply is fixed, vacancy rates are as close to zero as we're ever likely to see.
</blockquote>
It just goes to show how a little bit of legwork can give you a genuine feel for what's happening in suburbs at a micro level, to add to what is being reported on a macro level.
Crash risks 
An oversupply of property is <a href="https://petewargent.blogspot.com.au/2014/04/crash-risks" target="_blank">one of the factors</a> which heightens the risk of a property crash, and in 2003 it appeared that Sydney might be a particularly risky proposition.
Not only had dwelling prices boomed, the rate of population growth was falling sharply (in part due to interstate migration) and vacancy rates jumped to 4.3% in the harbour city and some 5.3% in the outer ring suburbs according to the REIA.
As prices cooled, construction of dwellings dropped sharply as one would expect in a typical market cycle.
In fact, construction levels fell to such woeful levels by 2008/9 that the crash predictions being peddled at that time didn't appear to make much sense unless, of course, you believed that unemployment would increase very sharply, which in the event, it didn't - with some skill and a bit of luck.
Of course, demand for investment properties will ebb and flow with sentiment and the interest rate cycle, but ultimately in a city with a rapidly growing population if construction doesn't keep pace with requirements (which will likely happen where prices are easing) eventually this will come home to roost in the guise of a tightening market until upwards pressure on prices eventually returns.
<div>
<img src="https://2.bp.blogspot.com/-RmQ0LdgPD0o/U05gmU7bKOI/AAAAAAAAMl8/vFSYWuDiy7I/s400/ckusherrrr.jpg"> 
</div>
Source: RP Data
Those who work in the industry tell me that large developers are still genuinely struggling to break even on large scale unit developments even at today's higher prices - and this is indeed being borne out in the relatively slender net profit margins being reported by residential developers on the securities exchange.
Based upon that information, it strikes me that short of grants, concessions or other incentives being made available to developers, a drawn out fall in prices would see dwelling approvals and subsequently construction dry up once again.
This is why it is so important to understand replacement cost when reading the property market cycle.
The Reserve Bank itself gave a pretty handy rundown <a href="https://www.rba.gov.au/speeches/2013/sp-so-230413" target="_blank">here</a>.
<div><img src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph8.gif" width="400" height="386"></div>
The above figures for infill sites relate to multistorey apartment blocks and give a useful indicator as to replacement cost of property in Sydney.
As a very general rule of thumb, when apartment prices fall below replacement cost...au revoir construction.
On the flip side, median house prices in Sydney long ago became decoupled from any kind of sensible price/income ratio, and as such are marching to their own drum and may be more prone to a correction.
Crisis looms? 
And so, here we are today.
The REINSW reported this afternoon that March 2014 vacancy rates in Sydney had fallen to near crisis levels falling by 0.3% to only 1.4%.
<div class="separator"><a href="https://2.bp.blogspot.com/-aXekV3_smeQ/U18L1yj0aUI/AAAAAAAAM0w/qe7FZlwm4sU/s1600/REINSW.jpg"><img src="https://2.bp.blogspot.com/-aXekV3_smeQ/U18L1yj0aUI/AAAAAAAAM0w/qe7FZlwm4sU/s1600/REINSW.jpg"></a></div>
Reported the REINSW: “Sydney is going backwards in regard to properties available for rent. Something must be done to ensure that there is a greater level of choice for those seeking to secure a rental property in Australia’s biggest city."
In Sydney's inner 10 kilometre ring, vacancy levels have fallen to desperately low levels of only 1.3%, which would come as no surprise whatsoever to anyone who ventures to actually look at what's happening in the market.
A vacancy rate of 1.3% across such a dense property market is described by the REINSW as"verging on crisis levels".
There are some question marks over whether the new stock which is sold offshore is being let or left empty, but to date, with humble apologies, I have no worthwhile data to present on that. 
That may be one to look into.
Elsewhere in the state, of course, demand is significantly lower since most of the speculation is taking place in Sydney's favourably located suburbs and vacancy rates are correspondingly considerably higher.
<div>
Construction picking up
As prices have picked up, so too is now construction in Sydney, and over the coming years vacancy rates will likely eventually rise again, but the rates of vacancy likely to be significantly higher in areas where large new developments are taking place (cf. what has reportedly played out in Melbourne in recent years).
Naturally anyone buying property in Sydney today needs to be extremely wary of buying in a suburb or sector of the market which will soon be inundated with a deluge of new apartments, and that's most particularly the case for persons buying expensive off-the-plan or high rise stock.
In the right suburbs where supply is fixed, it's pretty much as you were with vacancy rates as close to zero as we're ever likely to see.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
</div>
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pwargent-M4siyDbqQY

Is the Sydney vacancy rate really verging on "crisis levels"?

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The Real Estate Institute of New South Wales has warned that vacancy rates in Sydney are now at a crisis low levels, with the number of properties for rent dropping 0.3% to 1.4% in the March 2014 Vacancy Rate Survey.
This is a figure not seen broadly since November 2011, according to REINSW president Malcolm Gunning.
“Sydney is going backwards in regard to properties available for rent. Something must be done to ensure that there is a greater level of choice for those seeking to secure a rental property in Australia’s biggest city,” said Gunning.
Inner Sydney vacancy rates declined by 0.2%, to 1.3%, while the middle and outer suburbs dropped 0.4% and 0.1% to 1.6% and 1.5% respectively.
Again, it appears all eyes are on new Premier, Mike Baird, as to how property will be treated.
“We look with interest to the direction new Premier Mike Baird will take in regard to property. His support is essential to ensure that the best and brightest remain in NSW. This can only happen if he identifies the inequities of the current planning system as well as lack of affordable housing and incentives for first home buyers,” Gunning continued.
<a href="/news">Newcastle</a>, however, increased by 0.1%, to 2.5%, while the Hunter also stayed relatively flat with a 0.1% decrease to 3.1%. <a href="/news">Wollongong</a> was up 0.7% to 2.3%, with the whole of the Illawarra then placed at 2.1% up from 1.7%.
The Mid-North Coast’s vacancy rate was recorded as the lowest outside Sydney metro, at 1.4%, a 0.3% tightening, while <a href="/news">Coffs Harbour</a> has the highest availability at 3.8%, up from 3%.
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jduke-EHk3XBmHkn

Investor alert: Sydney vacancy rates at "crisis levels"

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“Vacancy” is not a good word for any investor looking to keep a stable cash flow and a decent tenant, and yet it seems many areas are facing rents decreasing in the capital cities, according to SQM Research, with Canberra and Perth suffering the most.
Similarly, Perth has recently had a tough run with tenants breaking leases and vacancy rates increasing - late last year, in fact, Property Observer reported that <a href="/news/perth-landlords-lower-rents-to-dissuade-potential-buyers">Perth landlords were lowering rents to dissuade tenants from leaving</a>.
<blockquote>
52% of Gen Y said they’d like to live in the inner suburbs.
</blockquote>
Realestate.com.au have released the top 10 suburbs searched online for apartment rentals over the past six months (September 2013 to February 2014) based on their internal statistics.
The top 10 list:
<ol>
<li>Brisbane (QLD) 4.7% vacancy rate (SQM Research) Daniel Argent from Urban Property in Brisbane says that the rental demand for inner Brisbane apartments is increasing.“There is definitely a high level of rental demand for inner city apartments. There are a lot of people looking for two-bedroom apartments that are close to shopping and transport. With such high demand we find that most of the properties are tenanted within two weeks of listing,” said Argent. </li>
<li>Canberra (ACT) 2.5% vacancy rate (SQM Research) </li>
<li>Perth (WA) 5.7% vacancy rate (SQM Research) <a href="https://www.realestate.com.au/property-apartment-wa-perth-412854299" target="_blank">This two bedroom, two bathroom apartment</a> is currently available to rent in Perth. Sitting on the border of East Perth and Perth, it’s available at $750 a week. </li>
<li>Melbourne (VIC) 6.2% vacancy rate (SQM Research) </li>
<li>Docklands (VIC) 5.8% vacancy rate (SQM Research) A renter could lease an apartment in <a href="https://www.realestate.com.au/property-apartment-vic-docklands-412777379" target="_blank">this Docklands complex at $400 a week</a>. Unfurnished studio apartments at Victoria Point are leasing from $315 per week. Docklands' difficult conception and towering cranes previously saw Property Observer take a deeper look at the area, expected to have attracted $17.5 billion by 2025 in private sector investment, in this <a href="/news/vic/docklands-finding-its-feet-after-a-difficult-conception">suburb spotlight</a>. </li>
<li>Southbank (VIC) 2.3% vacancy rate (SQM Research) An unfurnished <a href="https://www.realestate.com.au/property-apartment-vic-southbank-412778263" target="_blank">one bedroom apartment in the Victoria Tower</a> will set a renter back at least $405 per week. Shared facilities include a gym, tennis court, spa, sauna and pool. </li>
<li>Braddon (ACT) 1.5% vacancy rate (SQM Research) This <a href="https://www.realestate.com.au/property-townhouse-act-braddon-412841911" target="_blank">three bedroom, two bathroom townhouse in Braddon</a> is significantly more affordable, at $670 per week. </li>
<li>Nathan (QLD) 3.3% vacancy rate (SQM Research) </li>
<li>Parramatta (NSW) 2% vacancy rate (SQM Research) The booming Sydney "second CBD" suburb of Parramatta is currently seeing <a href="/expert-insights/buying/slab-to-be-set-on-highest-residential-tower-in-parramatta-v-by-crown-today">the tallest residential tower in the area, V by Crown</a>, under construction. The impressive development may just underpin the longevity of the area. </li>
<li>Chatswood (NSW) 2.8% vacancy rate (SQM Research) <a href="https://www.realestate.com.au/property-unit-nsw-chatswood-412715351" target="_blank">T</a><a href="https://www.realestate.com.au/property-unit-nsw-chatswood-412715351" target="_blank">his freshly painted and two bedder</a> in Sydney’s Chatswood is available for $525 per week. </li>
</ol>
For more data, including median prices and rents on each of these areas, you can use our free suburb data pages. 
 
Interestingly, as noted above, the vacancy rates are still high on a number of these areas - and SQM Research's Louis Christopher has since tweeted Property Observer that he has put out warnings to investors on a number of these suburbs. Docklands and Southbank, in particular, have long had a <a href="/expert-insights/buying/melbourne-residential-unit-market-oversupplied-and-its-going-to-get-worse-terry-ryder">reputation of an apartment market oversupply</a>.
The number of tenants and sharers seeking apartments rather than other types of property, both established and new, is up to 39% of the market – an increase of 7% since 2012, according to the realestate.com.au figures.
<blockquote>
The number of tenants and sharers seeking apartments is now at 39% of the market.
</blockquote>
Tenants under the age of 35, earning between $50,000 and $99,000 are those driving this trend. Within this, 52% of Gen Y said they’d like to live in the inner suburbs.
While only 6% of Gen Y tenants nominated regional suburbs as their ideal location, 15% of baby boomers preferred regional suburbs, in their 2014 Consumer Insights Report on Tenants and Sharers.
Of all tenants, 72% of Gen Y said they’d take care of the property like it was their own, with 84% of Baby Boomers citing the same. Six in 10 tenants have said they spent money to make improvements to a rental property.
The general manager of sales and operations at realestate.com.au, Arthur Charlaftis, said that the key for tenants is research and knowing the key statistics about the area, as well as the amenities and lifestyle available.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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Where do tenants want to rent? The top 10 suburbs where renters are searching for apartments

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It appears that investors may still be struggling in Perth, with Real Estate Institute of Western Australia (REIWA) figures showing a slowdown in sales and a lift in the rental vacancy rate.
REIWA president, David Airey, said that the median house price has increased from $546,000 in the December quarter to $550,000 in March, however this $4,000 lift is unlikely to do much to improve the concerns of investors in the state.
“There was little change in overall sales turnover for the quarter, down by only 2%, however, it’s noteworthy that the March quarter was down by about 6% on the same period last year,” Airey said.
Noting it had been a ‘choppy’ quarter for sales, he said there had been a steady decline in recent weeks as more properties were put on the market for sale.
The biggest slide was seen in the City of Vincent, south east segments of the City of Stirling and Gosnells and Melville areas.
Across Perth, and areas such as Fremantle, Rockingham and northern Joondalup, sales have, in fact, been lifting. Despite this, listings rise and are now at their highest level since December 2012.
This may mean a good time to get in for prospective home buyers, with more choice, however it does make selling prospects somewhat lacklustre.
Similarly, landlords won’t be too impressed with the most recent vacancy rate statistics – with the highest vacancy rate seen in the past four years. It has now lifted to 4.1% for the rate for the three months to February. The last time it was higher was the winter of 2010’s 4.3%.
“It’s now a tenants’ market with much more stock available and median rent coming down a little. It has dropped $15 per week in the last nine months and I anticipate a further fall in the median weekly rent to show up in the data over the next few weeks,” Airey said, pointing to around 5,000 rental properties on the market.
This is an incredible 56% up on the same time last year.
“The March quarter normally experiences a tightening in the vacancy rate, but not so this year,” Airey said.
The biggest jump in rental listings was in Joondalup and Wanneroo, up 26% on December.
He said the absence of first home buyers is being felt with the increase in selling stock on market, with 10,067 homes on the market – a rise of 861 properties from a month ago and 1,600 from a year ago.
“For several quarters the number of listings hovered around 8,500 properties but now seem to be trending back to a more usual 12,000,” he said.
“The biggest jump in listings was experienced through parts of the cities of Joondalup and Wanneroo which saw 28% more stock up for sale”.
Do you have a vacant property in Perth? Tell us what you are experiencing: <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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