Diversified national property developer,&nbsp;<a href="https://www.urban.com.au/developers/time-place">Time &amp; Place</a>, has&nbsp;received development approval from the Victorian Planning Minister for a large-scale mixed-use development that will occupy one of the largest island sites on the Melbourne CBD periphery.

It will add another $500 million to the developer‘s portfolio once complete. &nbsp;

The Minister for Planning of Victoria, Sonya Kilkenny, announced the project’s planning approval in person at the <a href="https://www.urban.com.au/developments/south-melbourne-vic-3205">South Melbourne</a> site.&nbsp;

The DFP pathway was introduced to fast-track the delivery of much-needed housing and has been a pivotal tool in enabling the approval of Time &amp; Place developments while also includes their <a href="https://www.urban.com.au/news/vic/first-look-time-place-and-woolworths-greenlit-for-glen-iris-mixed-use-precinct">$150m mixed-use Glen Iris development</a> in partnership with Woolworths Group which was approved in October 2024.&nbsp;

By providing reduced approval timeframes and greater project certainty, the DFP pathway has enabled Time &amp; Place to confidently advance projects that meet community needs in a timely and efficient manner, strengthening project viability.&nbsp;

Tim Price, Founder and Director of Time &amp; Place, says the&nbsp;accelerated approval process is "enabling us to better deliver thoughtfully designed places while supporting local economic growth and job creation."

"We commend the Minister and the Victorian Government for their leadership and commitment to facilitating impactful developments that benefit the community and economy."

After initially acquiring a single site at 11-17 Dorcas Street, Time &amp; Place has spent the past 18 months gradually acquiring four additional sites bordered by Dorcas and Wells Streets and Middleton Lane, taking the land holding to 2,398 sqm.

The development will feature 243 apartments and introduce a village-style look and feel that integrates dining options, amenities and a community activation that will link directly with South Melbourne. The project will comprise one, two, three and penthouse apartments, in addition to a diverse ground-floor retail offering.&nbsp;

Designed by the renowned <a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a> studio, the distinctive project is designed to feature two sculptural towers connected via a central garden bridge. The towers are conceived as a pair of elegant forms that rest on a refined garden podium, celebrating the Parkside address and surrounding Domain precinct. &nbsp;

Price said acquiring the additional sites allows for the introduction of a superior design and place-making outcome for this corner of South Melbourne, reinforcing the developer’s conviction in the area and the city-fringe residential market.

"In this vibrant corner of South Melbourne, seamlessly connected to South Yarra and the Botanic Gardens and just 1.6 &nbsp;km from the CBD, we envision an innovative, amenity-rich village that fosters community engagement with the Domain Precinct. Our goal is to provide sophisticated yet attainable residential designs that complement the prestige of this remarkable location.

“After exploring the opportunities presented from a larger, amalgamated site, Time &amp; Place has been able to unlock further design and amenity opportunities, evolving our original idea for the site into a true urban precinct that feels incredibly authentic to our brand and values."

Sales will commence on the yet-to-be-named project later in 2025, with construction set to follow shortly after.

Joel Robinson

Time & Place greenlit for new $500m apartment development overlooking Melbourne’s Botanic Gardens

Queensland apartment developer Mosaic Property Group is intensifying its commitment to the Gold Coast’s apartment market, with three new projects valued at over $570 million.

<a href="https://www.urban.com.au/developers/mosaic-property-group">Mosaic</a> is poised to shortly launch <a href="https://www.urban.com.au/new-apartments/sophia-by-mosaic-1357-gold-coast-highway-palm-beach">Sophia by Mosaic</a> in <a href="https://www.urban.com.au/developments/palm-beach-qld-4221">Palm Beach</a>—a $135 million direct beachfront&nbsp;development with 32 apartments across nine levels. The project marks Mosaic’s entry into Palm Beach following success in the fast-growing southern coastal markets of Bilinga and Kirra Beach.

In <a href="https://www.urban.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>, Mosaic continues its successful trajectory, with a fifth site acquisition underway following the recent completions of Augusta by Mosaic and Florence by Mosaic. Plans are in place for a <a href="https://www.urban.com.au/news/qld/first-look-exclusive-mosaic-secure-another-gold-coast-apartment-development-site">$185 million ultra-luxury development on The Esplanade</a>.

Further expanding in Broadbeach, Mosaic has secured its third site and submitted a development application for a $250 million, 37-level tower on Mary Avenue, offering 59 expansive half and full-floor residences.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-exclusive-mosaic-file-plans-for-fifth-broadbeach-apartment-development">First look exclusive: Mosaic file plans for fifth Broadbeach apartment development</a>

<img alt="Mosaic Broadbeach" data-entity-type="file" data-entity-uuid="0ef8a2ac-1116-4bcb-9331-065d73278f67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-01-21%20at%2011.02.57%E2%80%AFAM.png?VersionId=v1s6B.GR6.rlRv4np8147NswQTmBHQgQ" />

Founder and Managing Director Brook Monahan said the new acquisitions underscored Mosaic's confidence in the resilience of lifestyle-driven markets and the enduring demand for its design-led, functional, and beautifully finished residences.

"The strength of these markets has been exceptional since the pandemic,"&nbsp;Monahan said.

"We continue to experience robust demand from both interstate and local downsizers who are seeking luxury apartments that offer thoughtful design, functionality, and exceptional quality.

“With limited supply and rising construction costs, Mosaic is well-positioned to lead in this market which is becoming more discerning following many stalled projects as a result of many developers not being able to deliver much awaited supply. Our long-established in-house construction arm enables us to manage costs effectively and seize key opportunities.”

&nbsp;

[smartcode_project:default project_id=145364 project_image_fid=322822]

Monahan said Sophia was shaping as an exceptional project for Palm Beach.

“Positioned on the dunes at the sought-after northern end of Palm Beach, Sophia occupies a premier beachfront site that we believe will be highly desirable. We already have a waitlist of Mosaic buyers from our existing database of previous and current owners, indicating another likely rapid sellout in this very unique location.”

Designed in collaboration with Bureau Proberts, Sophia&nbsp;will offer residents an array of five-star amenities, including a pool, spa, gym, and sauna.

“Sophia will provide a beautifully balanced lifestyle, merging iconic design with world-class amenities to cater to every resident's needs,” Monahan added.

[smartcode_project:default project_id=145364 project_image_fid=322819]

Mosaic boasts an extensive $1.4 billion portfolio on the Gold Coast with nine completed projects and an additional four currently under construction.

“We are very fortunate that our entire project portfolio is consistently near sell-out, reflecting robust and ongoing demand driven by the market’s attraction to our design-led developments.

"Buyers are drawn not only to Mosaic’s exceptional quality, prime locations, and thoughtful, resident- focused designs but also to the assurance that we deliver as promised. Our unbroken track record instils confidence, with buyers reassured that Mosaic consistently upholds its commitments.

“The trust we’ve built in our brand over many years which we will never take for granted, continues to fuel this strong demand, as clients recognise the lasting value inherent in every project. Our reputation for excellence, reliability, and&nbsp; integrity positions Mosaic as a preferred developer, making our homes some of the most highly sought-after on the market.”

Since 2012, Mosaic has completed more than 65 developments across South East Queensland, establishing itself as one of the region’s most reliable and recognised developers.

Mosaic Founder and Managing Director Brook Monahan said the new acquisitions underscored Mosaic's confidence in the resilience of lifestyle-driven markets

Mosaic set sights on Palm Beach, Burleigh Heads, Broadbeach, for new $570m apartment pipeline

Prominent South East Queensland builder-developer McNab has commenced construction at its new Surfers Paradise apartment development, Elements.

<a href="https://www.urban.com.au/new-apartments/elements-budds-beach-21-oak-avenue-surfers-paradise-qld-4217">Elements</a> presents a rare opportunity to buy in the small pocket of Budds Beach, on the quieter, western side of Surfers Paradise towards the Nerang River, but still offering significant views east toward the coast.

The building, of just 87 two, three and four-bedroom apartments that start from just over $1 million, has been crafted by <a href="https://www.urban.com.au/architects/cottee-parker-architects">Cottee Parker</a> who says the design "pays&nbsp;homage to the sea and sky and responds to its unique midwater location with distinct simplicity and openness, bringing the waterways to its inhabitants."

[smartcode_project:default project_id=111522 project_image_fid=322242]

Behind the curved, glazed&nbsp;façade will sit a collection of apartments which will feature open plan kitchen, living and dining areas that will extend to balconies with views across the Gold Coast skyline, hinterland, and beach.

As the building ascends, the apartments get more premium, and give way to the two-bed and two-bed plus multi-purpose rooms to half-floor three-bedrooms and the Horizon Collection, just a handful of four-bedroom apartments each with a multi-purpose room, panoramic views, a master retreat with a walk-in wardrobe and ensuite, and a built-in bar area with a custom stone finish.

[smartcode_project:default project_id=111522 project_image_fid=322249]

The original plans back in 2021 had the communal facilities located within the building, but, in a trend seen across the majority of Gold Coast projects in the last few years, McNab more recently had Cottee Parker relocate them to the roof.

Now a full rooftop retreat, it will feature an infinity-edge pool with beach club-style loungers which actually sit in the water, several day beds surrounding the pool, and a sauna, hot plunge pool, and a yoga deck.

There will also be a poolside barbecue and teppanyaki area, as well as a private formal dining room and a gym.&nbsp;

[smartcode_project:default project_id=111522 project_image_fid=322250]

&nbsp;

Elements will sit in a quiet pocket of Surfers, only a six-minute walk to Budds Beach and eight minutes to Surfers Paradise Beach.

It has a strong case that viewlines, particularly from the upper levels, won't be built out, given the scale of the Paradise Resort Gold Coast hotel across the road, which is unlikely to ever be redeveloped.

McNab has demolished the old three-level walk-up and old timer home on the amalgamated 1,013 sqm site and is forecasting a completion date of around Q3 2027.

[smartcode_project:default project_id=111522 project_image_fid=322251]

&nbsp;

<a href="https://www.urban.com.au/developers/mcnab-developments">McNab</a> as a builder has a diverse workbook across the whole of South East Queensland, from warehouse and offices to social housing projects.

As a developer, McNab recently completed White in Main Beach, selling all of apartments prior to completion and winning the 2024 Master Builders QLD Housing &amp; Construction Award, as well as Queensland’s Best Project in the $50m+ multi-residential category.

They also have several development sites in Brisbane, in West End and Highgate Hill, as well as <a href="https://www.urban.com.au/news/qld/first-look-exclusive-mcnab-shoots-for-full-floor-apartments-in-broadbeach">plans for a future Broadbeach project</a>.

[smartcode_project_cta:default project_id=111522]

McNab kicks off construction at Elements, Budds Beach apartments

Nearly four years after signalling it will be going into the mixed-use precinct sector and starting with a site in Waterloo, Fabcot, the development arm of supermarket chain Woolworths, has submitted a development application for the site.

They secured concept plan approval for the project in May last year, but the recently laid $165 million plan for the&nbsp;6,534&nbsp;sqm site at 923 Bourke Street is the one that will go up for full approval.&nbsp;

They've proposed a part eight, part six-level building designed by <a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a>&nbsp;who won the design competition for the project over the likes of Koichi Takada Architects and SJB.

The design pays homage to the cultural and natural heritage of <a href="https://www.urban.com.au/developments/waterloo-nsw-2017">Waterloo</a>, according to the documents submitted to the City of Sydney Council.

<img alt="923 - 935 Bourke Street, Waterloo woolworths" data-entity-type="file" data-entity-uuid="45b8ef6d-d22f-4ffd-88a0-de49b6f22243" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/923%20-%20935%20Bourke%20Street%2C%20Waterloo%20woolworths.png?VersionId=FZOSdZypbjQLZlTQWViAIxwNVbc80cxn" />

The precinct will be home to two residential buildings, along with a five-story commercial building. 110 one, two and three-bedroom apartments will spread across the two residential buildings, with 68 per cent designed as offering dual aspects,&nbsp;optimising natural light and ventilation

Drawing inspiration from Aboriginal Country and the area's rich history, the architectural expression features sandy-tone bricks and green hues reminiscent of the coastal landscapes and native flora that once flourished here.&nbsp;

Facade geometries, with splayed and peeled elements, echo the forms of Banksia Serrata and Melaleuca plants, further rooting the project in its local context.

<img alt="923 - 935 Bourke Street, Waterloo apartments" data-entity-type="file" data-entity-uuid="f7f48fdb-40c2-4f2a-af92-0d86023e2287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/923%20-%20935%20Bourke%20Street%2C%20Waterloo%20apartments.png?VersionId=LICj27a2inUPQ.UNUTxPYc7F5b5ahrgB" />

Residents will also benefit from communal amenities including a landscaped podium courtyard and rooftop terraces.&nbsp;

The apartments will rise from an activated ground plane where Fabcot intends to create a plaza-style precinct with&nbsp;specialty shops, cafes, restaurants, and a full-line Woolworths supermarket equipped with modern conveniences like direct-to-boot and e-commerce services.&nbsp;

The commercial building, strategically positioned at McEvoy and Bourke Streets, will cater to local workplace needs with compact, flexible office spaces.&nbsp;Its faceted design complements the surrounding streetscape while framing inviting views of the precinct’s public spaces.

<img alt="923 - 935 Bourke Street, Waterloo retail" data-entity-type="file" data-entity-uuid="db609e0e-4e08-4c5e-8541-ba5421e89346" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/923%20-%20935%20Bourke%20Street%2C%20Waterloo%20retail.png?VersionId=TqAK.Dj9UTNfl1.NHEG2pR8zks91ZmJE" />

Sustainable features include&nbsp;solar panels, EV charging stations, rainwater reuse systems, and low-carbon materials.&nbsp;

Six terraces homes to be managed by City West Housing with sit along Young Street.

Waterloo has been abuzz with activity recently.

Mirvac and John Holland <a href="https://www.urban.com.au/news/nsw/first-look-mirvac-john-holland-submit-960m-waterloo-metro-quarter-plans">revealed their near-$1 billion plans for the next stages of Waterloo Metro Quarter</a>, while across the road from the Woolworths plans, builder-developer DASCO recently got to work on&nbsp;<a href="https://www.urban.com.au/new-apartments/danks-st-district-903-921-bourke-street-waterloo-nsw-2017">Danks St District</a>, another precinct-style development with around 376 apartments across four buildings.

The design pays homeage to the cultural and natural heritage of Waterloo, according to the documents submitted to the City of Sydney Council

Woolworths unveils long-awaited Waterloo precinct with shop-top housing

Spacious Property Development Group is soon to welcome buyers to its newest apartment building, Voyage, in the Hobsons Bay area of Melbourne.

<a href="https://www.urban.com.au/new-apartments/voyage-altona-102-106-pier-street-altona">Voyage</a>, the only new development on the market in the <a href="https://www.urban.com.au/developments/altona-vic-3018">waterside suburb</a>, has been a hit with a variety of buyers, given the diverse mix of one, two and three-bedroom apartments.

Another big tick for buyers been the location, ideally located on Pier Street in the heart of the Altona major activity centre, a stone's throw from Altona Station, Altona Beach and its redeveloped pier, Altona Botanical Gardens, and an abundance of cafes and retail amenity.

<img alt="Voyage" data-entity-type="file" data-entity-uuid="1ef686f2-fc8b-48ce-a8cb-c8454e43230d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-01-20%20at%2011.16.32%E2%80%AFAM.png?VersionId=gjCQv695nsi3VmgWzrIJHBI2WmAuFcYo" />

The apartments, which start from just over $500,000, provide an affordable entry point for first home buyers, while its three-bedroom apartments are just over $1 million.

<a href="Cheah Saw Architecture">Cheah Saw Architecture</a>&nbsp;aimed to&nbsp;balance contemporary aesthetics with a nod to its bayside location in its design.

Its asymmetrical facade and refined material palette blend with <a href="https://www.urban.com.au/developments/altona-vic-3018">Altona</a>’s natural surroundings while standing out as a modern architectural addition to the area.&nbsp;

Interiors are minimalist, with a neutral colour palette.&nbsp;

[smartcode_project:default project_id=112195 project_image_fid=241501]

The open-plan living area features hybrid flooring and full-height glazing that highlight sweeping views of the bay and local landscape.

The kitchen is equipped with Miele appliances while the bathrooms feature porcelian tiles that frame the modern glass showers.

[smartcode_project:default project_id=112195 project_image_fid=241502]

Located around 13 kilometres southwest of Melbourne’s CBD and adjacent to Williamstown, Voyage offers a combination of connectivity and convenience.&nbsp;

Residents will have easy access to public transport, urban amenities, the Altona shopping centre, and Altona Beach.&nbsp;

The suburb’s lively retail and dining scenes complement its tranquil bayside atmosphere, making it a well-rounded option for owner-occupiers seeking lifestyle and accessibility.

[smartcode_project:default project_id=112195 project_image_fid=250084]

Buyers can secure their future homes with a five per cent deposit, making the development an appealing option for those looking to transition into apartment living.&nbsp;

<a href="https://www.urban.com.au/builders/valeo-construction">Valeo Construction</a>&nbsp;is well advanced in construction. They're expecting to complete the apartments in mid-2025.

[smartcode_project_cta:default project_id=112195]

Voyage apartments in Altona near completion

Diversified New Zealand developer <a href="https://www.urban.com.au/developers/safari-group">Safari Group</a> has introduced a gateway for investors and homeowners to the "adrenaline capital" of &nbsp;New Zealand, situated in the picturesque suburb of Frankton.

Safari's apartment development, Mountain Oak Apartments, will be located in Frankton’s masterplanned precinct, Remarkables Park, offering a mix of 141 apartments ranging in size from 49 sqm to 249 sqm.

The development includes 36 one-bedroom and one-bedroom flexi apartments, 40 two-bedroom and two-bedroom flexi apartments, four three-bedroom apartments, three penthouses, and four private entry apartments.

Dual-key apartments—comprising two separate residences held under one title—are also available.

Its location ensures residents and visitors are just a short drive from popular slopes like Coronet Peak and Cardrona Alpine Resort.&nbsp;

Additionally, the development capitalises on its proximity to essential facilities, including the airport and extensive retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market.

The historic village of Arrowtown, known for its rich gold rush history and scenic trail network, is also just a 30-minute drive away, offering an alternative destination for history and nature enthusiasts.

<img alt="Safari Group’s Mountain Oak Apartments living area" data-entity-type="file" data-entity-uuid="957d1777-8b2b-420e-8a81-f22b75151b85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Frankton is a burgeoning area located just seven kilometres from Queenstown’s bustling centre. While Queenstown is a popular year-round holiday destination, its busiest season runs from mid-June to mid-September, coinciding with the snow season.

"It peaks all year round, in both winter for skiing and snowboarding, and summer for hiking, cycling, and water sports," said Safari Group Senior Development Manager Josh Van Veen.

Queenstown’s popularity ensures consistent high demand for short-term visitor accommodations, holiday homes, and residences for long-term tourism workers.

"There is high demand for both tourist and residential living, coupled with a shortage of housing options and limited supply for both renters and home buyers," Van Veen said.

After New Zealand locals, Australians are the second most active buyers in the New Zealand property market. They are particularly drawn to Queenstown’s ski fields due to their affordability and investment potential.

Unlike Australia, New Zealand does not impose stamp or transfer duty on property purchases, saving Australian buyers a minimum of four per cent compared to similar transactions at home.

Safari Group has calculated that the average annual gross return for a Mountain Oak Apartment operating as visitor accommodation is 7.43 per cent.

"Queenstown properties generally offer good returns on investment, making this an excellent opportunity for investors to either dip their toes into property investment or expand their portfolios," Van Veen said.

<img alt="Safari Group’s Mountain Oak Apartments dining area" data-entity-type="file" data-entity-uuid="b24ce18d-f4e3-4b9e-9a01-a6173cdcd5b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Mountain Oak has been designed with this flexibility in mind, offering buyers multiple options. Buyers can opt for long-term rental management to cater to Queenstown's tourism and hospitality workforce or short-term visitor accommodation management to leverage the region’s thriving tourism market.&nbsp;

Buyers can use either the Safari management service, or find their own management provider - this is not something they have to decide straight away.&nbsp;

The Safari short-term accommodation option includes comprehensive services such as cleaning, administration, and 24/7 on-site guest support, providing a hassle-free investment experience.

For homebuyers seeking a permanent residence, Mountain Oak offers spacious apartments with expansive windows that frame breathtaking views of The Remarkables mountain range.

The apartments feature modern amenities, including electronic key-locked front doors, acoustically treated flooring, and underfloor heating in bathrooms, ensuring secure and comfortable living in the Alps.

Kitchens are equipped with premium Fisher &amp; Paykel and Haier appliances, complemented by luxurious yet durable engineered or porcelain benchtops and splashbacks.&nbsp;

Residents can choose between light and dark interior colour schemes to suit their preferences.

One-bedroom apartments at Mountain Oak start from NZ$639,000 (AU$586,000).

Queenstown’s popularity ensures consistent high demand for short-term visitor accommodations, holiday homes, and residences for long-term tourism workers

Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown

The value of new loan commitments for investor housing rose by 12.7 per cent to $7.8 billion in March, which was 54 per cent higher than in March 2020.

The rise in March is the largest recorded since July 2003.

It was driven by increased loan commitments to investors for existing dwellings.

The value of new loan commitments to investors rose across all states except the ACT.

There was a 13 per cent rise in NSW, 13.7 per cent in Victoria, and 19 per cent in Queensland.

[smartcode_project:default project_id=90553 project_image_fid=147606]

According to the ABS, this has continued a period of increases in investor lending since May 2020, when it reached a 20-year low.

The value of owner-occupier loan commitments for the construction of new dwellings fell by 14.5 per cent in March to $3.6 billion.

It was the first fall since June 2020 when the HomeBuilder grant scheme was introduced.

It has remained at record-high levels being some 120per cent higher than last March.

[smartcode_project:default project_id=22057]

&ldquo;Investor lending has seen a sustained period of growth since the 20-year low seen in May 2020,&quot; &nbsp;ABS head of finance and wealth Katherine Keenan said.

The rise in March is the largest recorded since July 2003 and was driven by increased loan commitments to investors for existing dwellings.

HIA&rsquo;s analysis of ABS data showed that the number of loans for the construction of a new dwelling in the three months to March 2021 compared with the same time last year had tripled in Western Australia and Tasmania and more than doubled in Victoria, Queensland, South Australia, Northern Territory and the ACT.

It almost doubled in NSW.

The value of new loan commitments for investor housing rose by 12.7 per cent to $7.8 billion in March



jchancellor

Queensland leads property investor new lending spike - biggest in nearly 18 years

It&#39;s time for investors to start thinking differently about their rental properties and marketing them to fit the growing work-from-home trend.

This means adapting to demand and updating your property to match the needs of the young professionals and students who may need study and workspaces to accommodate their new lifestyles.

Urban takes a look at the top tips for creating the ideal study zone in your inner-city investment property. 
&nbsp;

<ul>
	<li>Tip 1: Find the space</li>
</ul>

<img alt="" height="661" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1693064941.jpg" width="1000" />

Whether it&rsquo;s within a bedroom, a hallway or in a dedicated study, finding the perfect space to modify into a work-from-home study zone is an important first step.

Urban recommends exploiting underutilised &lsquo;dead space&rsquo; &ndash; an alcove or a landing that may fit a small desk or collapsible shelving. 
&nbsp;

<ul>
	<li>Tip 2: It&rsquo;s all about lighting</li>
</ul>

Lighting can have a huge effect on the efficiency of study and work, as well as make your property look bigger and brighter.

It is generally agreed that natural light is best when it comes to general lighting for your home study space, as natural light has been claimed to increase productivity and performance.&nbsp;

If natural light is not possible in your investment property, warm lighting can deliver similar benefits.

<img alt="" height="497" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1482794711.jpg" width="1000" />

<ul>
	<li>Tip 3: Set up a brand-new desk</li>
</ul>

Standing out from the competition is important when seeking good tenants, so there&rsquo;s no denying that good marketing and some furnishings go a long way, especially in an apartment marketed towards students.

Setting up a brand-new desk lets prospective renters imagine desk space in the home and may even secure more competitive prices for your inner-city apartment. 
&nbsp;

<ul>
	<li>Tip 4: Add some greenery</li>
</ul>

Besides looking beautiful and creating a more welcoming&nbsp;home, research shows that there are numerous&nbsp;benefits to having plants in work zones.&nbsp;

Plants have been proven to boost your mood, improve memory, and increase productivity.

<img alt="" height="667" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1575692173.jpg" width="1000" />

Apartments nearby universities, research hubs and numerous employment opportunities are the ideal location for investors to secure their next investment property.

Here are four investor-friendly apartments for sale now in Melbourne. 
&nbsp;

1. Melbourne Grand, Melbourne 
Address: 560 Lonsdale Street, Melbourne VIC 3000 
Two-bedroom apartments from $569,000

[smartcode_project:default project_id=3490 project_image_fid=92412]

Winner of the HIA &lsquo;Victorian apartment complex of the year 2020,&rsquo;&nbsp;Central Equity&rsquo;s Melbourne Grand provides an outstanding living experience.

Less than a kilometre away from Monash University&rsquo;s Parkville campus, investors can secure high-income researchers as well as postgraduate students who will enjoy the apartment&rsquo;s ideal location.

Designed by Guildford Bell and Graham Fisher Architects, Melbourne Grand features various amenities, including resort-style facilities, residents&rsquo; lounge, 17-seat theatre and coffee bar. 
&nbsp;

2. Port Lane, Port Melbourne 
Address: 201 Williamstown Road, Port Melbourne VIC 3207 
Three-bedroom townhomes from $1,025,000

[smartcode_project:default project_id=89720 project_image_fid=147505]

Boasting 122 three-bedroom residences, Port Lane offers a quality selection of townhomes in Port Melbourne.

Developed by ID_Land, the coastal community delivers an authentic and distinctive design to sit in harmony with the Port Melbourne community.

Architects&nbsp;Rothelowman&nbsp;and interior designers&nbsp;Hecker Guthrie have designed the home with contemporary palettes and materials.

Curated landscaping by Tract frame the townhomes, with a verdant entrance pergola marking each residents&rsquo; arrival. 
&nbsp;

3. Live City, Footscray 
Address: 124-188 Ballarat Road, Footscray VIC 3011 
Two-bedroom apartments from $460,000

[smartcode_project:default project_id=3565 project_image_fid=68184]

Backed by developer R&amp;F Property Australia, the new master-planned Live City project comprises 208 residences spread across 14 floors.

Set to deliver over 1,400 apartments across eight buildings, the project brings together a fully-integrated, mixed-use community that&rsquo;s thriving with character and history.

Designed by&nbsp;Elenberg Fraser, each apartment features floor-to-ceiling windows, contemporary interiors and an abundance of natural light. 
&nbsp;

4. The Docklands Residences 
Address: 3-43 Waterfront Way, Docklands VIC 3008 
Two-bedroom apartments from $1,050,000

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Located atop the five-star Marriott Hotel,&nbsp;Docklands&nbsp;Residences provide timeless luxury living in Melbourne&rsquo;s inner-suburbs.

Set atop the five-star Melbourne Marriott Hotel, homeowners of the oversized one, two and three-bedroom&nbsp;Docklands&nbsp;residences will enjoy exclusive hotel membership, access to services and amenities and true luxury living.

Designed by award-winning architects&nbsp;DKO, the unique mixed-use project boasts floor-to-ceilings windows, terraces and a private enclosed glass winter garden.

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It's time for investors to start thinking differently about their rental properties and marketing them to fit the growing work-from-home trend

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Investor tips for creating the ideal study zone in your inner-city apartment

Australian housing values lifted by 1.8% in April according to CoreLogic&rsquo;s national home value index, with the monthly pace of capital gains easing from a 32-year high in March (2.8%). &nbsp;

Although growth conditions have slowed, housing values are still rising at a rapid pace, up 6.8% over the past three months to be 10.2% higher than the COVID low in September last year.

CoreLogic&rsquo;s research director, Tim Lawless, says the pace of capital gains could slow further over the coming months as inventory levels rise and affordability constraints dampen housing demand.

&ldquo;The slowdown in housing value appreciation is unsurprising given the rapid rate of growth seen over the past six months, especially in the context of subdued wages growth. &nbsp;With housing prices rising faster than incomes, it&rsquo;s likely price sensitive sectors of the market, such as first home buyers and lower income households, are finding it harder to save for a deposit and transactional costs.&rdquo;

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There is already some evidence of fewer first time buyers in the market, with the Australian Bureau of Statistics reporting a -4.0% fall in the value of first home buyer home loans through February, the first drop since May last year.

Despite the slowdown, positive housing market conditions remain geographically broad-based with every capital city and &lsquo;rest-of-state&rsquo; region continuing to record a lift in dwelling values over the month.

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Darwin (2.7%) and Sydney (2.4%) recorded the largest month-on-month rise in dwelling values, while Perth values recorded the lowest rate of growth amongst the capital cities at 0.8%.

The four smallest capital cities recorded double digit annual growth (Adelaide 10.3%, Hobart 13.8%, Darwin 15.3% and Canberra 14.2%), reflecting a smaller COVID-related disruption and an earlier start to the growth phase last year. &nbsp;Melbourne is recording the lowest level of annual growth (2.2%) due to a larger downturn, attributable to the extended lockdown period last year.

The broad trend of houses outperforming the unit sector continued through April as higher density styles of housing experienced less demand amidst elevated supply across some inner city precincts. &nbsp;At the combined capital city level house values (8.6%) have risen at double the pace of unit values (4.3%) over the first four months of the year.

&ldquo;A preference shift away from higher density housing during a global pandemic is understandable, however a rise in flexible working arrangements also seems to be supporting greater demand for houses around the outer-fringes of capital cities. &nbsp;Relatively weak investor activity, compounded by a supply overhang in some high-rise precincts, is also dampening price growth in unit markets,&rdquo; Mr Lawless said.

Australian housing values lifted by 1.8% in April with the monthly pace of capital gains easing from a 32-year high, according to CoreLogic

jordan_55689

Home values still on the rise but lost steam in April

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EXPERT OBSERVER

I’ve been telling our customers for the past two years that the outstanding property market in Australia is Regional Victoria.

And multiple data sources continue to support the view that anyone seeking affordable property, good rental yields and in particular great capital growth would be wise to consider Regional Victoria.

There is no other market jurisdiction in Australia that has delivered so many locations with double-digit growth in their median prices in the past 12 months. Equally, Regional Victoria is a national leader on locations with strong long-term capital growth rates.

The regional areas of Victoria were also prominent in the latest Pain and Gain Report from CoreLogic which highlights the number of properties sold for a profit in the September 2019 Quarter.

Why is Regional Victoria doing so well? Partly it’s because Victoria is the No.1 economy in the nation. The latest State of the States report from CommSec confirms Victoria as the leading economic performer in the nation, with New South Wales slipping down the rankings to third.

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And partly it’s because Victoria continues to be the No.1 state for population growth, gaining significantly from both overseas and interstate migration.

Victoria’s ranking as the No.1 economy and population growth state isn’t just about Melbourne – the regions have been major contributors to the state’s success.

Recent data on unemployment showed that Regional Victoria leads the states in jobs growth and has the lowest unemployment rate. ABS data shows that 20,000 people found work in regional Victoria in the three months to November.

Regional Victoria’s jobless rate is 3.7% – the lowest in the nation and well below the average regional rate of 5.1%. In the past five years, regional Victoria’s unemployment rate has decreased by 2.9 percentage points.

This is translating into exceptional performance in real estate.

CoreLogic’s quarterly Pain and Gain report (which compares the prices of properties sold in the September Quarter with their previous sale) found that Hobart was the national leader – 98% of houses sold made a profit.

[smartcode_project:default project_id=27406]

But close behind in second place was Regional Victoria, where 97% of houses sold for a price higher than the vendors paid previously (ahead of Melbourne’s 96% and Sydney’s 92% - and the national average of 90%).

In terms of apartments, Regional Victoria ranked third in the national (94%), well above the national average of 80%, Sydney’s 87% and Melbourne’s 85%.

The out-performance of Regional Victoria locations shows up in price growth data for the past year and also for the past decade.

Dozens of Regional Victorian locations have recorded double-digit growth in their median house prices in the past 12 months.

Ballarat has been particularly outstanding, with Ballarat Central (13%), Brown Hill (20%), Golden Point (18%), Lake Wendouree (11%), Mt Pleasant (21%) and Wendouree (10%) all producing strong price growth.

The City of Greater Geelong also produced multiple growth leaders, including Barwon Heads (12%), Bell Park (12%) and Drysdale (20%).

Other high-growth locations were spread around the state, including Newborough (16%), Wonthaggi (14%), Heathcote in Bendigo (17%), Maldon (17%), Irymple near Mildura (23%), Daylesford (13%) and Mansfield (13%).

This kind of growth in not a one-off event – many Regional Victorian locations have long-term capital growth rates above 7% per year, with some nudging 9% per year – which puts them alongside the best in the nation.

[smartcode_project:default project_id=29358]

The City of Greater Geelong, Ballarat and the Macedon Ranges LGA all have multiple locations with capital growth rates between 7% and 9% per year.

Lake Wendouree in Ballarat has averaged 8.9%, while Woodend (Macedon Ranges) and Norlane (Geelong) have both averaged 8.7% per year.

Others with capital growth rates above 8% per year include Beveridge, Daylesford, Maldon, Geelong (the suburb), Kyneton and Herne Hill (Geelong).

TERRY RYDER is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Regional Victoria is Australia's most outstanding property market: Hotspotting's Terry Ryder

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Low mortgage rates, a swift economic recovery, which has spurred consumer sentiment, and low listing volumes have catapulted national housing values to new record highs. At the end of March, the CoreLogic national home value index increased a further 2.8%, placing values 5.6% above the previous market peak in October 2017. The combined value of Australian dwellings hit $7.9 trillion dollars over the month, according to CoreLogic. This cements residential property as an extremely large and important asset class.

Comparing current capital city values with previous peaks adds some perspective to the current upswing – particularly in Perth and Darwin, where values remain substantially below their record highs from 2014. It also highlights the very different dynamics across capital cities – such as in the ACT, where dwelling values have hit a new record high every month for 19 months.

The following charts plot the change in capital city dwelling values from previous peaks, and the number of months it has taken for values to surpass the previous peak. The subsequent downturn and recovery trends vary, and are unpacked below.  
 

 

<div class="infogram-embed" data-id="584c3a02-1d58-4092-befa-6afcff697778" data-title="Change in value from previous peak" data-type="interactive"> </div>
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<h2>Sydney</h2>

Sydney dwelling values took 44 months to reach a new record high value. While values have lifted a relatively high 8.1% since the COVID-induced decline (which bottomed out in September 2020), the total value of the dwelling market is actually only 2.6% higher than the previous peak, which was in July of 2017. 

In 2017, a property price downturn was likely catalysed by changes to lending conditions. Cash rate reductions, along with a relaxation in borrower serviceability assessment rules, spurred the start of a recovery trend through 2019. COVID-19 interrupted this upswing, but a recovery in economic conditions, and increased consumer confidence, has pushed values above the previous peak.  
 

<h2>Melbourne</h2>

Melbourne dwelling values reached a peak in March 2020, after staging a recovery from the earlier 11.1% drop in values between late 2017 and mid-2019. However, the Melbourne housing market was the most impacted of any capital city by COVID-19, due to extended social distancing restrictions through 2020, and a particularly high exposure to overseas migration as a source of housing demand.  Closed borders created a negative shock, with a more significant and direct impact on inner city rental demand. Since bottoming out in October 2020, as stage 4 lockdowns began to ease, Melbourne dwelling values have climbed 0.7% above the pre-COVID high. 

As the value of Melbourne housing nudges over its previous peak, it is worth noting the market has not recovered evenly. House values remain -1.8% below the previous November 2017 high due to a larger correction through the recent downturns. Within different price segments, there is also variation. As of March, the ‘high’ end of the market (measured as the top 25% of values in Melbourne) was still -4.0% below its record high, which was in October 2017. Meanwhile, low and middle tier values have increased beyond their pre-COVID highs by 4.9% and 2.2% respectively, reflecting a smaller decline turn recent downturns, as well as strong demand from first home buyers who typically target properties around the middle-to-lower end of the market.  
 

<h2>Brisbane</h2>

Brisbane dwelling values are sitting 6.5% above the previous peak, which was in April 2020. Market values saw a peak-to-trough decline of -0.9% through COVID-19. The decline lasted just 4 months, before Brisbane dwelling values recovered to a new record high by October 2020.

As with Melbourne, the recovery in the Brisbane market has been varied. While house values climbed 7.6% above the previous peak through March, which was reached in May of 2020, unit values remain -9.4% below the record high value, which was in March 2010.  Brisbane unit values are currently at similar levels as October 2007, reflecting a very affordable entry point to the market.

The weaker conditions across the unit sector are likely due to previously high levels of unit completions keeping values subdued, particularly in the later part of the 2010s. ABS dwelling completion data saw unit completions across Queensland rise 50.4% in the 5 years to September 2020, compared with a 17.4% uplift in house completions. However, strong internal migration flows to south-east Queensland, as well as other tailwinds for housing demand more broadly, has supported 5 consecutive months of growth in Brisbane unit values since November 2020. 
 

<h2>Adelaide</h2>

The Adelaide dwelling market was one of the least affected through COVID-19 in terms of values. Following a -0.2% dip from the previous high in May 2020, values had surpassed the previous peak by September last year. The rate of change in dwelling values jumped to a monthly increase of 1.5% over March 2021, which is the highest monthly growth rate seen across the city since December 2007. Both house and unit values across Adelaide are currently sitting at a record high. Although housing values are reaching new highs each month, relative to the larger capital cities, Adelaide housing values remain low. 
 

<h2>Perth</h2>

The CoreLogic home value index for Perth shows values -15.9% below the record high, which was in June 2014. The peak-to-trough decline, which was induced by the rapid withdrawal of mining investment, employment opportunity and migration, lasted around 67 months. As the market started to recover in mid-2019, COVID-19 created an additional, negative shock, which pushed values down a further -2.2% between April and July of 2020. However, the Perth dwelling market has seen consecutive increases in value for the past 8 months. For the past 5 months, value increases have exceeded 1% a month, which is a strong growth rate and signals the start of what may be a sustained and rapid recovery. This coincides with rising interstate migration levels to Western Australia, and projected increases in already rising mining investment. Hobart

Hobart has seen the second-highest uplift in housing values from the previous peak, at 12.3%. The previous peak in dwelling values was at February 2020, before a brief, COVID-induced decline in total dwelling values of just -0.3%. Hobart dwelling values have seen extraordinarily strong growth, with the annualised capital growth return sitting at 9.4% for a 5 year period (+56.3% over the past five years). ABS building activity data suggests house commencements were 32.8% above the decade average through the September 2020 quarter in Tasmania. Combined with affordability constraints, additional stock should work to ease growth rates across the region in the coming months.  
 

<h2>Darwin</h2>

Darwin dwelling values are the furthest from the previous peak of the capital city markets. A record high was reached across Darwin dwellings in May 2014. Similar to Perth, a decline in the resources related infrastructure sector saw a substantial decline in housing values, with the peak-to-trough fall extending to February 2020, at -32.7%. Since February 2020 however, Darwin dwelling values have increased 16.5% through to March 2021 which is the fastest growth rate amongst the capitals. This leaves values -21.6% below the record high, and shows the Darwin dwelling market firmly in a recovery trend.   
 

<h2>ACT</h2>

ACT dwelling values at the end of March were 16.9% higher than the previous peak, which was in April 2019. Following a -1.5% peak-to-trough decline, ACT dwelling values had recovered by September 2019, and have hit a new record high each month since. Rapid dwelling value growth across the capital has largely been driven by house values, which are 19.7% above the previous high in April 2019, compared with a 7.2% uplift in unit values since the previous high. Part of the strength in ACT dwelling value returns have been due to relatively high incomes across the Territory, along with resilient labour market performance through COVID-19. However, the fact that dwelling values have surged almost 17% in less than two years, highlights an increasing barrier to ownership for future first home buyer cohorts. 

 

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See more: Properties ideal for investors

[smartcode_project:default project_id=3494]

[smartcode_project:default project_id=90553]

[smartcode_project:default project_id=6201]

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The combined value of Australian dwellings hit $7.9 trillion dollars over the month, according to CoreLogic, cementing residential property as an extremely important asset class

How do dwelling values compare with previous highs? Eliza Owen

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This is the strongest Regional Queensland market in the six years that Hotspotting has been conducting its quarterly surveys of sales activity and prices. The number of rising markets is the highest recorded, by a considerable margin, and property values are growing.

We have identified 72 locations with rising sales activity, a remarkable result in the year of the pandemic. Locations across the state are benefiting from the Exodus to Affordable Lifestyle and/or the improvement in the resources sector. Vacancies are ultra-low in most of these places. 

There are seven regional cities with five or more suburbs with forward momentum in sales activity: the Sunshine Coast, the Gold Coast, Toowoomba, Mackay, Rockhampton, Gladstone and Townsville. These cities, plus smaller regional centres like Gympie, Emerald, Warwick, Kingaroy and Dalby, all have markets trending in the right direction for sustained price growth.

The Sunshine Coast is again the standout location, but other regional markets are emerging, notably the important inland city of Toowoomba. And we are seeing recovery in resources-related centres which have spent several years in downturn, including Gladstone, Mount Isa and Emerald.

[smartcode_project:default project_id=24532]

The exceptions to the trend of upwardly-mobile markets are Cairns and the Fraser Coast, neither of which appear to be experiencing the uplift seen elsewhere. 

The Sunshine Coast continues to be one the nation’s outstanding property markets. There are 14 suburbs with rising sales activity and seven with consistent sales volumes. Neighbouring Noosa has two growth suburbs.

The Sunshine Coast is outperforming the Gold Coast, which is a much larger city but has only seven growth suburbs, as well as 12 consistent ones.

Toowoomba is the new contender, as its economy rises on the back of significant new infrastructure. Eight suburbs have rising sales activity and we expect prices to rise considerably.

[smartcode_project:default project_id=6769]

Rockhampton, Gladstone, Mackay and Townsville each has between five and seven suburbs with rising momentum.

Gladstone’s re-emergence as a growth market is notable, after half a dozen years in downturn: vacancies are now low, sales activity is picking up and prices are now responding.

Markets across Regional Queensland are performing well on price growth: almost three-quarters of locations across Regional Queensland have had annual growth in their median house prices and a similar number of towns and suburbs have had uplift in the most recent quarter.

The Sunshine Coast continues to impress as one of the nation’s strongest markets, with price uplift in particular in the top end of the markets. 

Sunshine Beach, the most expensive suburb on the coast, has recorded a 33% annual rise in its median house price, now $1,750,000. The canal-based suburb of Minyama has increased 29% in the past 12 months to $1,190,000. Yandina (median house price $730,000) has increased 30%.

[smartcode_project:default project_id=7974]

The market in and around Noosa is a particular standout, with Sunshine Beach up 33%, Sunrise Beach up 17% and Noosaville up 12%. Mooloolaba (median price $900,000) has risen 10% and Moffat Beach (median price $910,000) is up 12%.

The Gold Coast has some notable growth performances also, with Worongary (30%), Runaway Bay (14%), Miami (12%), Arundel (15%) and Burleigh Heads (15%) all recording growth annual growth.

A number of Central Queensland are rising, including Mackay (where Andergrove, Blacks Beach, South Mackay and North Mackay have all recorded double-digit annual growth) and Rockhampton (where Berserker has led the growth with a 27% increase).

Gladstone continues to deliver evidence of recovery from a lengthy downturn, with median house price growth in suburbs such as Calliope (10%), Clinton (12%), West Gladstone (18%) and Tannum Sands (11%). 

Central Queensland resources towns like Moranbah (up 23%) and Clermont (up 10%) are also recovering, albeit from a very low base. Chinchilla on the Western Downs is in a similar position, with its median house price rising 15% in the past year after several years of decline.

TERRY RYDER is the founder of hotspotting.com.au 
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Strongest regional Queensland market in six years: Hotspotting's Terry Ryder

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EXPERT OBSERVER

Six months ago it was hard to find any suburbs across the Greater Sydney Area with rising buyer demand, but now there are many. It’s been a sharp turnaround – but an uneven one.

Overall, this is the strongest Sydney market I’ve recorded in the five years that I’ve been conducting quarterly surveys of sales activity and price trends. 

Our Winter 2019 survey pinpointed the bottom of the Sydney trough and our latest survey, now under way, provides strong evidence of the market revival, showing just how much has changed since the middle of last year. 

Locations with rising markets, as measured by sales activity, can be found in 22 municipalities across the Sydney metro area, but the revival is not evenly distributed. The greatest uplift is being felt at the upper end of the market and many suburbs have not yet experienced significant improvement.

The number of suburbs classified as declining markets has dropped a lot but there are still 12 suburbs with deteriorating demand – and another 12 that have that characteristic as well as high vacancies and weak prices, which we therefore classify as danger markets.

There danger markets are all locations where apartments predominate. Seven of them are in the Parramatta LGA, where high levels of new apartments have been built in recent years and vacancies remain in the 5% to 8% range in several cases.

The leading market in the Greater Sydney Area is the Northern Beaches LGA. It has nine suburbs with rising sales activity, plus six others with steady buyer demand. 

Quarterly sales in Newport have been 28-36-53-64, while Freshwater and Frenchs Forest are stand-outs for maintaining highly consistently sales levels throughout the post-boom correction phase and now in the recovery.

The Inner West LGA is also performing well, with six growth suburbs and nine others with consistent buyer demand. Quarterly sales in Annandale have been 17-32-36-45-64, while Leichardt has been 59-68-77-105, patterns that will likely drive prices higher.

The Sydney City LGA has growth suburbs, but also shows the importance of not generalizing when discussing real estate in a major city. The central city LGA has five suburbs with growing sales activity, 11 with steady markets, three where demand continues to decline and one suburb which we classify as a danger market. All that diversity exists in one municipality. 

Blacktown is the strongest of the outer-ring markets, with five growth suburbs and 11 with steady sales activity. Schofields continues to stand out with rising sales activity – quarterly sales over the past two years have been 64-82-99-105-120-150-196-162.

Other LGAs with three or four growth suburbs include the Hills Shire, Ku-ring-gai, North Sydney and Sutherland municipalities.

This new survey also shows the recovery in the Canterbury-Bankstown area. Six months ago, 12 suburbs in this LGA were rated as declining markets, with sales levels dropping markedly. But now most of these suburbs have been re-classified as plateau markets, as sales levels start to improve. And four suburbs of the Canterbury-Bankstown LGA have shown sufficient revival to be classified as rising markets.

Across Greater Sydney, prices are reacting to the uplift in demand that is generally occurring in many locations, but most suburbs still have median prices below the levels of 12 months ago. This applies to 92% of suburbs for houses and 85% of suburbs for apartments.

But many suburbs have shown increases in the latest quarter. Examples include Mona Vale (median house price down 8% annually but up 2.3% in the latest quarter); Collaroy (down 15% in annual terms but up 9.5% quarter-to-quarter); Bronte (down 9% year-on-year but up 2.6% in the latest quarter); and Killara (down 15% annually but up 3% quarter-to-quarter). 

This is a pattern I expect to see becoming increasingly prevalent as the uplift being led by the more expensive areas spreads more widely across the metro area.

Terry Ryder is the founder of hotspotting.com.au <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">ryder@hotspotting.com.au</a> twitter.com/hotspotting

PICTURE SOURCE: <a class="external text" href="https://www.flickr.com/photos/34120957@N04" rel="nofollow" target="_blank">Alex Proimos</a>
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Northern Beaches rising buyer demand drives Greater Sydney to strongest Sydney market: Hotspotting's Terry Ryder

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Rental demand for units is 23% higher year-on-year, according to the latest data from the realestatwe.com.au website.

Demand for house rentals is up by 11% on the same time last year, just as the worldwide pandemic became official.

[smartcode_project:default project_id=24422]

"Perhaps somewhat surprising given the current environment, but demand for units is 23% higher year-on-year with demand for houses up by less than half that, at 11% growth," Cameron Kusher, the executive manager of economic research at REA Group said.

This year the rental demand has fallen for five successive weeks.

<img alt="" height="1376" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rea_rental_demand.jpg" width="1600">

The reasons Kusher advised on the emerging trend was "that we aren’t seeing the influx of overseas arrivals like we typically would at this time of year, as well as the fact that government incentives have driven a surge in purchasing activity from first home buyers, which may lead to reduced rental demand."

Rental demand fell by a further 1.1% last week, taking it to be 15.8 per cent lower than its historic peak.

Cameron Kusher said Tasmania and Australian Capital Territory were the only states in which rental demand increased over the past week.

While rental demand has trended lower over recent weeks, it remains 17% higher than it was a year.

[smartcode_project:default project_id=90553]

After the seasonal early-January surge, two weeks ago Kusher noted demand would continue to trend lower over the coming weeks "as we exit the busiest time of the year for the rental market during the first quarter."

The REA Insights Rental Demand Index was relaunched last month.

While the original index measured the total volume of highly-engaged renter activity on realestate.com.au, it now measures the change in the number of people that are highly-engaged with properties listed for rent on realestate.com.au.

Someone is determined to be ‘highly engaged’ when they undertake a number of actions on a listing, these include but are not limited to; the number of visits to a listing, looking at the photos for a listing multiple times, saving the property, sharing the property and/or making an enquiry with the agent.
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Rental demand has now fallen for five successive weeks, after the seasonal early-January surge, but remains higher than last year, according to realestate.com.au data

Rental demand reducing, but remains higher than last year: REA

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Vacancies have remained high in Melbourne, according to SQM Research's national residential rental vacancy report for February.

"Melbourne remains weighed down by underwhelming demand for rental accommodation," said Louis Christopher, managing director of SQM Research.

Melbourne’s vacancy rate rose from 4.4% to 4.5%

It was down from the 4.7% last December, which was the highest level since SQM Research started measuring data in 2005. 

Melbourne’s vacancy rate ranks as the highest for a capital city in the nation, with the withdrawal of international student tenants hitting the city hard, Christopher noted.

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The inner Melbourne CBD vacancy rate stands at 7.5%, down from 9.4% last October.

Sydney’s overall vacancy rate rose 0.1% to 3.3%. 

The Sydney CBD vacancy rate dropped to 6.3% in February 2021, down from a high of 14.8% in May 2020, indicating a return to life for Sydney city. 

Elsewhere, in Perth, Adelaide, Canberra, Darwin and Hobart, the vacancy rate was below 1%.

Brisbane’s vacancy rate also remained tight, down to 1.5% in February from January 2021.

SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.

"The figures for Melbourne and Sydney would be disappointing for existing property investors," Christopher said.

"Normally, vacancy rates in these two cities fall over February, in part due to international students starting their semesters.

"But given the ongoing closure of the international border, the seasonal increase in rental demand has not occurred this year. 

"This year will favour tenants in the inner cities but will also very much remain a landlord’s market in regional Australia.

“Elsewhere, we are still recording strong interest from tenants in larger properties in outer suburban locations as well as wider regional Australia. 

'Investment property owners in Darwin or Perth have also enjoyed a strong year of rental returns.”

Over the month to 12 March 2021, capital city average asking rents fell 0.4% for houses to $550 per week and 0.2% for units to $412. 

Reflecting accommodation oversupply, Melbourne and Sydney unit asking rents fell by 1.4% and 0.4%, respectively over the past month.

House rents also fell in Sydney by 1.2% while Melbourne house asking rents were flat. 

<h2>Recently listed VIC properties:</h2>

[smartcode_project:default project_id=29908]

[smartcode_project:default project_id=26935]

[smartcode_project:default project_id=29909]

 
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Melbourne also posted a 12% drop in asking unit asking rents over the year to March 2021

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