Leeson Property Valuers | Brisbane Property Valuers | Property Valuations

Brisbane home prices up $153,500 in just one year

Mon, 02 Mar 2026 22:00:00 +0000

Source: Realestate.com.au Brisbane home prices have surged $2950 each week over the past year, with the city recording Australia’s second-biggest property jump behind Perth. The latest PropTrack Home Price Index, out Monday, found Brisbane home prices were up $153,500, or 15.9 per cent, annually to reach $1.046m for all dwellings (houses and units). But it was the unit market that jumped most, up 20.3 per cent to a median of $831,000. House values hit $1.203m, up 14.7 per cent over ...

Fresh warning as build prices soar off16.5pc copper spike

Mon, 23 Feb 2026 23:00:00 +0000

Source: Realestate.com.au One of Australia’s leading construction advisory firms has warned of a ‘market bubble’ as six-figure cost blowouts hit projects and copper prices surge four times the inflation rate. The warning comes as housing approvals and commencements have lifted post-Covid, but completions have failed to follow – creating a widening gap between what’s planned and what’s actually being delivered. Altus Group’s quarterly report flags &...

First home buyers lap-up the Home Guarantee Scheme

Thu, 12 Feb 2026 01:00:00 +0000

Source: Oz Property Insights The latest data which takes in the first quarter of the operation of the Home Guarantee Scheme shows that first home buyers responded favourably. The December 2025 quarter Lending Indicators data showed that new lending was up strongly over the quarter with lending to first home buyers leading the charge as government first home buyer incentives went live. The overall number of new loans was 5.1% higher over the quarter which was slightly lower than the 5.7% in...

Rate rises won’t fix housing-driven inflation

Mon, 09 Feb 2026 05:00:00 +0000

Source: Linkedin The Reserve Bank’s decision to lift interest rates again reflects growing concern that inflation is not yet under control. Headline CPI rose to 3.8 per cent in the year to December, with trimmed mean inflation also edging higher, reinforcing the view that price pressures are proving more persistent than expected. With inflation moving further away from the 2 to 3 per cent target band, the Bank has judged that additional restraint is required. A key challenge, however,...

Time for a reset to ease Queensland’s rental market pressures

Thu, 05 Feb 2026 01:00:00 +0000

Source: REIQ Queensland’s rental market remains critically tight, with the statewide vacancy rate sitting at a measly 1.0%, according to the Real Estate Institute of Queensland’s (REIQ) December Quarter 2025 Residential Vacancy Rate Report. The REIQ classifies a ‘healthy’ vacancy rate as one that sits between 2.6 – 3.5%, however this quarter vacancy rates were 1.0% or less in 33 of the 50 local government areas (LGAS) and sub-regions tracked by the REIQ across ...

2026: the year for SEQ landholders to realise their upside

Mon, 02 Feb 2026 02:00:00 +0000

Source: Bromley Real Estate South-East Queensland’s ongoing appeal as a lifestyle destination and region of economic opportunity is placing increased focus on ready-to-develop land. As population and business activity continue to grow, there is heightened emphasis on activating land that can support this expansion in a practical and timely way.

The region’s population has been growing at 2.54% per annum, making SEQ one of Australia’s hotspots for domestic migration. Centra...

More expensive than Sydney: Queensland rent hits record high

Tue, 27 Jan 2026 06:00:00 +0000

Source: Realestate.com.au Queensland rent has hit a record high, with no escape as Brisbane and the regions now sit equal on $670 a week – with one surging city now more expensive than Sydney. Rent on the Gold Coast is now a shock $850 a week, or just over $44k a year – higher than the cost of renting in Sydney’s median of $760 a week. The statewide $670 a week, or close to $35,000 a year, means rent now devours over a third of many household incomes – the official ...

Guides To Engaging An Auctioneer Or Valuer

Tue, 20 Jan 2026 01:00:00 +0000

Source: AVAA The Auctioneers and Valuers Association of Australia (AVAA) has developed this series of practical guides to help consumers and businesses make informed decisions when engaging an auctioneer or valuer. Whether you are selling assets, managing an estate, obtaining an insurance valuation, or making a commercial decision, selecting the right professional matters. These guides provide clear, accessible information to support stronger outcomes and greater confidence in the ...

How Brisbane’s $400-a-week suburbs were allbut wiped off the map

Thu, 15 Jan 2026 01:00:00 +0000

Source: Brisbane Times Brisbane’s rental market has hit a new milestone – and it’s a grim one. In just three months,weekly rents jumped $20 to reach fresh record highs – all but wiping out the once-common$400-a-week suburb. Brisbane’s median house rent climbed 3.1 per cent over the December quarter to $670 a week,Domain’s latest Rent Report, released on Thursday, showed. Unit rents rose 3.2 per cent over the quarter to $650 a week – cementing Brisb...

Qld evicts high-income tenants from social homes to tackle 59k waiting list

Mon, 12 Jan 2026 00:00:00 +0000

Source: Courier Mail Hundreds of Queenslanders are being booted from taxpayer-funded social housing after they were found to be exploiting the system while owning properties or earning high incomes. The state government’s “social housing reset” targeting big-earning Queenslanders living in subsidised public housing has identified more than 155 households were found to be earning incomes of more than $100,000 and 28 households owned properties since June. In...

AVAA – Auctioneers and Valuers Association of Australia , Symposium Sydney

Sun, 30 Nov 2025 23:00:00 +0000

27 November, 2025 Leeson Valuer’s Jock Wigan and John Leeson attended the AVAA Symposium for 2025. Well done to the AVAA CEO Troy Williams and the board for organizing this, with valuers and auctioneers from each of the states involved. With a focus on future planning, and emerging issues in the sector, the day was well attended with insightful presentations - including on art, new and creative arts including Pokémon collections, electric vehicles, and the risks and oppor...

Housing supply shortage is costing Queenslanders, says REIQ

Wed, 26 Nov 2025 23:00:00 +0000

Source: REIQ The Real Estate Institute of Queensland’s (REIQ) latest median sales data for the September 2025 quarter (July – September 2025), lays bare that insufficient housing supply continues to cost Queensland home buyers, putting sustained upward pressure on property prices across the state. Queensland’s housing market continues to surge with no dips recorded at either the quarterly or annual level – the statewide median house price rose 4.83% over the quarter ...

Regional growth lifts to strongest pace since the start of the rate tightening cycle

Mon, 24 Nov 2025 22:00:00 +0000

Source: Cotality Cotality’s November Regional Market Update shows regional dwelling values rose 2.4% over the three months to the end of October, their highest rate of growth in more than three years. Cotality Australia Economist Kaytlin Ezzy said although capital city values lifted 2.9% over the same period, the continued uplift in the regions quarterly growth trend confirms the return to an upswing phase. “Demand is being shaped less by lifestyle changes and mo...

Proximity Study Along Rural Highways - Injurious Affection assessment

Tue, 04 Nov 2025 23:00:00 +0000

Source: IRWA A proximity study of rural residential properties along busy highways in Jefferson County, Wisconsin, was performed in February 2020∗ to assist in the valuation of the potential for severance damages to the home improvement value as a result of fee acquisitions for a road project which resulted in numerous parcels having a decreased distance to the right of way line (ROW). The Wisconsin Department of Transportation project was located along a busy state highway. Per...

Got a Home on More than 2ha – You need to know about Curtilage and Capital Gains Tax

Sun, 02 Nov 2025 23:00:00 +0000

A client came to us anxious about a potential $100,000 ATO Capital Gains Tax bill on the sale of a 4ha rural residential property, as Capital Gains Tax applies to properties larger than 2 ha even when owner occupied. With knowledge of the Curtilage principle and detailed market analysis we saved that client approx. $100,000 in Capital Gains Tax. Not all property and financial advisers know about this CGT exemption that can be claimed for the dwelling on up to 2...

Warehouse Demand Surges in Queensland

Sun, 02 Nov 2025 23:00:00 +0000

Source: myagentaus South East Queensland’s warehouse and industrial sector has maintained remarkable strength through the second half of 2025. Gross take up of industrial space reached approximately 315,000 m² in Q3, exceeding the total leasing activity recorded during the same period last year. Vacancy remains exceptionally low at around 3.7%, highlighting sustained occupier demand across key industrial precincts such as the Trade Coast, Logan, and the M1 Corridor. This strong le...

The best-performing propertymarkets of the past 20 years

Sun, 26 Oct 2025 23:00:00 +0000

Source: Livewire Australian property has long been seen as a reliable wealth generator, but few have ever quantified its total performance, capturing both price growth and income. Residential investment property ranks as Australia’s third best-performing asset class over the past 20 years (see the Livewire Long Term Investing Report 2025 for full rankings), with an annualised return of nearly 10%. Yet, just as equities within an index can diverge dra...

‘Super cycle’: Brisbane now the second most expensive capital to buy a house

Sun, 26 Oct 2025 23:00:00 +0000

Source: Domain Brisbane has outmuscled Melbourne for the first time to become Australia’s second-most expensive capital to buy a house, after prices jumped to a record $1.1 million. The Queensland capital’s median house price rose $38,852 or 3.7 per cent over the September quarter, Domain’s latest House Price Report, released on Thursday, showed. Brisbane’s typical house increased $100,238 or 10 per cent over the year – marking the city’s longest growt...

Rental growth re-accelerates amid tightest vacancy rate on record

Tue, 14 Oct 2025 00:00:00 +0000

Source: Cotality Australia's rental market is seeing renewed strength as national vacancy rates reach a new record-low, according to Cotality's latest Quarterly Rental Review. Cotality’s seasonally adjusted Rental Value Index saw national dwelling rents post a 1.4% rise in Q3, its largest three-month increase since June 2024, and a significant uptick from the 1.1% lift recorded in Q2. This reacceleration was also apparent in the annual trend, with the 4.3% increase in rents s...

High Court ruling reshapes approach to land valuations

Wed, 01 Oct 2025 23:00:00 +0000

Source: Landers & Rogers Land Valuation - The High Court sets down its interpretation of "improvements" when assessing site value In Valuer-General Victoria v WSTI Properties 490 SKR Pty Ltd [2025] HCA 23, the High Court of Australia clarifies what constitutes an "improvement" when assessing site value under the Valuation of Land Act 1960 (VLA). The case concerned the valuation of a heritage listed property at 490 St Kilda Road and whether the ex...

ATO Update On The Market Valuation Of Assets

Wed, 01 Oct 2025 00:00:00 +0000

Source: AVAA The Australian Taxation Office (ATO) has recently updated its guidance on the market valuation of assets, reinforcing the importance of objective, supportable, and well-documented valuation practices. The advice is significant for AVAA Certified Practising Valuers as it provides advice to taxpayers on when a valuation is required, what must be included in a report, and the expectations placed on professional valuers. That ATO update underscores the central role that ...

Hard to keep up with Queensland’s rising property prices, says REIQ

Thu, 18 Sep 2025 00:00:00 +0000

Source: REIQ Prices continued to rise across Queensland’s residential property markets in the June 2025 quarter (April – June 2025) with sustained growth redefining ‘entry level’ properties. The latest median sales results released by the Real Estate Institute of Queensland (REIQ) show statewide median sales prices for houses rose 3.66% to $850,000, and similarly, units lifted 3.41% to $698,000 over the quarter. As an upcoming Olympic City, Brisbane’s quarterl...

2025 AVA Board Election Outcomes

Sun, 14 Sep 2025 23:00:00 +0000

Source: AVAA The Auctioneers and Valuers Association of Australia (AVAA), a proudly member-driven organisation, confirmed its Board of Directors at the Annual General Meeting on 11 September 2025 to lead delivery of the 2025–30 AVAA Strategic Plan. The continuing AVAA National President is Tim Slattery, Co-Managing Director and co-owner of Slattery Auctions and Valuations. With extensive industry experience and national operations across Australia, Tim provides in...

Navigating the Rise of AI in Valuation: Opportunities, Risks, and Standards

Tue, 02 Sep 2025 00:00:00 +0000

Source: IVSC Introduction
Although technology has been used in valuations for decades, recent advances may profoundly affect how valuations are performed and reported.
The IVSC recognises that technology continues to evolve and is increasingly influencing valuation practice. As with all developments that have the potential to shape or impact the valuation profession, the IVSC actively monitors advancements in this area. Our commitment remains to support professional valuers by helping th...

AVAA - Statement on the Use of Artificial Intelligence (AI) and Generative AI in Valuation Reports

Tue, 05 Aug 2025 00:00:00 +0000

Source: AVAA (Auctioneers and Valuers Association of Australia) The AVAA recognises the growing integration of Artificial Intelligence (AI), including generative AI tools, into the valuation profession. While these technologies have the potential to support valuers in research, analysis, and report drafting, their use must remain consistent with professional responsibilities, ethical obligations, and the principles set out in the International Valuation Standards (IVS). Under IVS Framework ...

Brisbane Growth

Wed, 23 Jul 2025 23:00:00 +0000

Source: Courier Mail Brisbane has begun overtaking its southern rivals but innovation will be vital to housing and moving its growing population, a "smart" cities conference has heard. The Brisvegas economy was set to grow up to 40 per cent in the coming decade and by a whopping 70 per cent in the next 20 years according to Peter Hyland, director of prominent urban consultancy Urbis. The population would increase by 1.2m in the coming decade and the Olympics was...

Brisbane is now a million-dollar house market:here’s how it happened

Tue, 15 Jul 2025 02:00:00 +0000

Source: Cotality In May this year, the median house value across Brisbane surpassed $1 million for the first time on record – pushing the city into the exclusive million-dollar club alongside Sydney.The median house value hit $1,006,000 in May, up from$996,000 in the previous month and $942,000 a year prior. In June, house values continued to move higher, with the median lifting to $1,011,000. June also marked the ninth consecutive month that Brisbane was the second-highest house mar...

Falling interest rates drive an acceleration of growth in housing values through Q2

Tue, 01 Jul 2025 00:00:00 +0000

Source: CoreLogic Australian housing values rose by 0.6% in June, marking a fifth straight month of growth following the -0.3% dip seen between November and January. Monthly gains were recorded across almost every broad region of Australia, with Hobart (-0.2%), the only capital city or rest-of-state region to see a month-on-month fall. The June quarter saw national home values rise by 1.4%, following a 0.9% lift through the first quarter of the year and a -0.1% decline in Q4 last year. ...

Every major market now accelerating as rate cuts drive national housing surge

Mon, 30 Jun 2025 04:00:00 +0000

Source: Linkedin Australia's housing market is now in a coordinated acceleration phase, with every single major market now exhibiting monthly growth rates that signal significant momentum building across the nation. Perth's 1.3 per cent monthly growth, if sustained, would deliver annual returns well above its current 11.6 per cent annual rate. Similarly, Darwin's 1.3 per cent monthly pace suggests the market is running considerably hotter than its 7.1 per cent annual figure indic...

How the cost of building a new house just hit a record high

Wed, 14 May 2025 23:00:00 +0000

Source: The Sydney Morning Herald The cost of building a new house has reached a record high, and experts warn there’s little chance that prices will ease. Labour and materials costs jumped when the pandemic began as lockdown-era stimulus of the construction industry collided with a global inflation breakout, and costs show no sign of reverting to previous levels. The average cost to build a new house is $504,109 as of March, analysis by this masthead of ABS building approvals data...

Queensland’s rental market: A New Year, even fewer options

Wed, 14 May 2025 04:00:00 +0000

Source: REIQ Queensland’s rental market has started 2025 with even fewer options for tenants, as vacancy rates continue to tighten across most of the state in the March 2025 quarter, with the number of tightening regions outweighing those that eased. According to the Real Estate Institute of Queensland’s (REIQ) latest Residential Vacancy Rate Report, released today, 24 of the 50 regions tightened, 12 held steady, and just 14 saw any relief. The statewide vacancy rate has slippe...

Quarterly Rental Review

Thu, 01 May 2025 02:00:00 +0000

Source: CoreLogic National rent values rose 1.7% in the March quarter. Despite the easing in demand, a shortfall in rental listings remains, with total rental listings down -22.1% compared to the levels typically seen this time of year, leading national vacancy rates to tighten to 1.6% in March. All the capitals and rest of state regions saw both a rise in dwelling rents and an uptick in the pace of growth over the quarter. Advertised rental supply remains relatively tight. Over the four ...

Goldmate decision overturned on appeal: A win for landowners in the Western Sydney Aerotropolis

Mon, 28 Apr 2025 23:00:00 +0000

Source: Colin Biggers & Paisley Further to our release below on 10 December 2024 regarding the Court of Appeal's decision, the High Court yesterday declined TfNSW's application for special leave to appeal. This outcome solidifies the Court of Appeal's decision setting out the steps involved in properly characterising the "public purpose" behind a compulsory acquisition. In Brief Further to our release below on 10 December 2024 regarding the Court of Appeal's d...

A Powerful Partnership: John Leeson and Charles Stuart Take the Stage at Global Property Congress 2025

Mon, 28 Apr 2025 04:00:00 +0000

The excitement is building as delegates from around the world prepare to gather in Sydney for the highly anticipated Global Property Congress 26-29 May 2025. One of the major highlights will be the joint presentation by two of the industry’s leading minds: John Leeson and Charles Stuart. John Leeson, renowned for his sharp insights and future-focused strategies, will open the session by challenging traditional thinking and offering bold predictions about the evolution of water entitl...

International Right of Way Association (IRWA) 71st Annual International Education Conference

Sun, 27 Apr 2025 23:00:00 +0000

John is thrilled to announce that he will be attending the International Right of Way Association (IRWA) 71st Annual International Education Conference in Virginia Beach, VA, USA, from June 1–4, 2025. He looks forward to sharing updates and highlights throughout the event, joining over 1,000 professionals from around the world. This global gathering is an incredible opportunity to foster connections, explore new opportunities, collaborate across borders, and gain fresh insights into th...

Australian home values recover to new record highs in March

Tue, 01 Apr 2025 04:00:00 +0000

Source: CoreLogic Australian property values reached new heights in March, reversing a recent downward trend, according to CoreLogic’s national Home Value Index. Values increased 0.4% over the month, the second consecutive month of growth in the national index, following a short three-month decline where values dipped 0.5%. Regional markets continue to outperform the capitals, with the combined regionals index rising 0.5% compared with a 0.4% gain seen across the combined capitals. Ho...

Property Insights | Settlement trends diverged across states in 2024

Sun, 02 Feb 2025 23:00:00 +0000

Source: PEXA Key Findings: Calendar Year 2024 QLD retained the lead for the highest number of property settlements with 198,019 in 2024, followed by NSW (194,729) and VIC (187,944). Property purchases in 2024, 17.3% higher than in 2023. This increase in aggregate value came despite declining or stagnating property prices in some capital cities during 2024. The annual total number of settlements in 2024 was 13.2% less than the COVID-related peak in activi...

National home values record first decline in almost two years

Tue, 07 Jan 2025 23:00:00 +0000

Source: CoreLogic CoreLogic’s Home Value Index (HVI) ended the year on a negative note, with values down -0.1% nationally over the month after peaking in October and holding flat in November. CoreLogic’s research director, Tim Lawless, said the decline in values is no surprise. “This result represents the housing market catching up with the reality of market dynamics.” “Growth in housing values has been consistently weakening through the second half of the 20...

Right to light: Application for the extinguishment of an easement for the access and enjoyment of light and air is dismissed

Mon, 16 Dec 2024 01:00:00 +0000

Source: Colin Biggers & Paisley Lawyers By Ian Wright, Nadia Czachor, Krystal Cunningham-Foran and Matt Richards
An application for the extinguishment of an easement providing for the access and enjoyment of light and air is dismissed because of the practical benefits to the benefitted property and any injury suffered by its extinguishment could not be adequately compensated. In brief The case of Litfin v Wenck [2024] QSC 170 concerned an application to the Supreme Court of Queensla...

Queensland real estatesteadies, but set to'Spring'

Mon, 02 Dec 2024 23:00:00 +0000

Source: REIQ Queensland’s rapidly rising residential property prices stabilised over the September 2024 quarter (July –September 2024), as a wave of Spring sales began settling. The latest median sales results released by the Real Estate Institute of Queensland (REIQ) today,reveals a modest 0.26% increase in Queensland’s median house prices for the quarter, lifting to$772,000. While annual house price growth remains impressive across the state, some regions saw slight qua...

The High Court has made its decision – who is entitled to compensation?

Tue, 26 Nov 2024 23:00:00 +0000

Source: www.bartier.com.au With a legislative history spanning just under two years, the decision of the NSW Court of Appeal in Olde English Tiles Pty Ltd v Transport for New South Wales has divided both the public and legal practitioners. So it comes as no surprise that the Applicant applied for special leave to the High Court of Australia. Interested parties have been eagerly waiting to see the High Court’s decision. The power of five words - “special is refused with...

Key insights on Australia’s housing market and valuation trends for 2025

Tue, 26 Nov 2024 00:00:00 +0000

Source: CoreLogic Valuation volumes throughout 2024 have been stable, supported by steady demand in the Australian housing market. However, as the market starts to turn with softening conditions and lower auction clearance rates, Australia’s housing market offers both risks and opportunities for valuers approaching 2025. CoreLogic’s latest housing data reveals key trends likely to influence residential valuations, particularly as broader economic factors, such as inter...

What is going on with property investors?

Tue, 19 Nov 2024 00:00:00 +0000

Source: CoreLogic New investor loans are up a strong 18.8% nationally, far outpacing the volume of investment properties coming to market. There are regional differences with the number of investor listings coming to market elevated in Tasmania, Victoria and NSW, but are below average in SA, QLD and WA. The number of new loans for investment property purchases is strongest in high capital growth states, showing a pivot in investment to SA, QLD and WA. There are two main narratives abou...

Capital city buyers spoilt for choice on the back of the busiest October for new listings in a decade

Mon, 18 Nov 2024 01:00:00 +0000

Source: PropTrack & REA Group Over the month there was a surge in new listings hitting the market resulting in new listings in October 2024 being +14% year-on-year. It was an historic-high number of October new listings in Melbourne and Canberra, the highest October new listings in Perth in a decade, the highest October new listings in nine years for Sydney, highest October new listings in Brisbane and Hobart in six years and the highest October new listings in Adelaide in five years. D...

Sydney home values slip in October as market cooldown continues

Sun, 03 Nov 2024 23:00:00 +0000

Source: CoreLogic CoreLogic’s national Home Value Index (HVI) recorded a 0.3% rise in October, the 21st month of growth since the cycle commenced in February last year. As the market cools, annual growth in national home values has continued to ease, reducing to 6.0% over the 12 months ending October, down from a recent peak annual growth rate of 9.7% in February. CoreLogic’s research director Tim Lawless notes that the stronger performance across the more affordable end o...

Investors' property sell-off gathers pace

Mon, 16 Sep 2024 01:00:00 +0000

Source: The Chronicle Investors are exiting the residential real estate sector at a faster rate than a year ago, new research by Property Investment Professionals of Australia has found. PIPA's 10th annual investor sentiment survey found 14.1 per cent had sold at least one property in the past year, up from 12.1 per cent previously, and the majority went to existing owner-occupiers and first home buyers. PIPA chair Nicola McDougall said investors were still buying rental properties, &q...

Monthly rental growth hits lowest rate in four years as capital city demand declines

Tue, 13 Aug 2024 05:00:00 +0000

Source: CoreLogic Monthly rental growth hits lowest rate in four years as capital city demand declines The Australian rental market has experienced its slowest growth in four years, with CoreLogic’s monthly Chart Pack showing a modest 0.1% increase in national rents during July. CoreLogic Australia economist Kaitlyn Ezzy said the easing in the monthly growth trends marks a stark contrast to the 39.7% surge in rents recorded over the past five years. &ld...

Three capital cities record a fall in home values as momentum leaves the cycle

Thu, 01 Aug 2024 03:00:00 +0000

Source: CoreLogic While headline growth rate remains positive, three capitals recorded a decline in values over the past three months with Melbourne falling -0.9%. However, while the headline growth rate remains positive, it is clear momentum is leaving the cycle and conditions are becoming more diverse. The rolling quarterly pace of growth has slowed markedly in Sydney to 1.1%, a fraction of the 5.0% quarterly gain recorded at the same time last year. The mid-sized capitals are con...

New loans continue to grow but refinancing wave abates in FY24

Wed, 31 Jul 2024 04:00:00 +0000

Source: PEXA Key Findings: FY24 A total of 509,955 new loans were issued in FY24, an increase of 6.0% compared to FY23. New loan volumes were highest in VIC in FY24 (136,461), despite more property transactions being settled in QLD and NSW in FY24 (see PEXA Property Insights FY24). 396,653 refinances were completed in FY24, a 11.9% decline compared to FY23. The month of June 2024 is typically one of the strongest months for property settlements in any given year. New loan ...

Metropolitan areas outperform regions in FY24

Tue, 30 Jul 2024 23:00:00 +0000

Source: PEXA

Financial year 2024

There were 699,080 property settlements in total across Australia's mainland states in FY24, an increase of 5.1% compared to FY23.

QLD remained the state with the highest number of property transactions in FY24 (190,828), followed by NSW (186,355) and VIC (183,402).

A total of $664.0 billion was spent on property in FY24, a 10.8% increase compared to FY23.

Residential construction costs rising at the slowest annual pace in over 20 years

Tue, 16 Jul 2024 01:00:00 +0000

Source: CoreLogic After years of unprecedented accelerated growth, residential construction costs have stabilised, growing at the slowest annual rate in 22 years, CoreLogic's Cordell Construction Cost Index (CCCI) shows. The Q2 2024 national CCCI, which tracks the cost to build a typical new dwelling, recorded a 0.5% rise, a further slowing from the 0.8% increase recorded in Q1. During FY24, annual costs increased 2.6%, marking the smallest annual rise in the national CCCI si...

Investors rush to dump costly homes

Mon, 15 Jul 2024 04:00:00 +0000

Source: Courier Mail The new financial year has been greeted with an exodus investors from the housing market. The start of the new financial year has prompted a quick spurt in sales by investors, with their post July 1 timing ensuring any capital gains tax will sit in the 2024-2025 tax year. Ray White calculated 35.8 per cent of its sellers across Australia last week were investors, which was a higher investor exodus than June when it averaged 30.2 per cent. It was the highest weekly per...

Distressed listings: 20,000 Qld families forced to sell homes

Wed, 10 Jul 2024 02:00:00 +0000

Source: Courier Mail More than 20,000 Queensland families have been forced to sell their homes in distress sales in the past year, with ‘survival-mode’ interest only home loans rising almost $1bn nationally in three months to fight off delinquency. Exclusive data by national research firm SQM Research revealed Queensland recorded the highest rates of distress listings in the nation amid mounting financial pressures of 13 rate hikes and worsening cost of living pressures. It com...

Cash Purchases Report 2023 | More than 1 in 4 properties in Australia purchased with cash

Mon, 08 Jul 2024 04:00:00 +0000

Source: PEXA More than one quarter of all residential properties purchased across Australia’s three largest states were funded entirely with cash in 2023, with buyers immune to recent interest rate hikes, according to a new report released by PEXA today. PEXA’s 2023 Cash Purchases Report found the total value of cash-funded residential sale settlements (that is, properties purchased without a mortgage attached) increased by 1.5% in 2023 across the nation’s eastern states o...

Australian homeowners gain $59K wealth boost from rising housing values in FY24

Tue, 02 Jul 2024 03:00:00 +0000

Source: CoreLogic Australian dwelling values increased a further 0.7% in June, taking growth to 8.0% across FY2023-24. This is the equivalent of a $59,000 increase to the median dwelling value in Australia, which is now $794,000. The annual rise was in stark contrast to the FY2022-23 when CoreLogic’s national index was down -2.0%. In that year, annual growth was weighed down by a -7.5% drop in values in the nine months following May 2022, when the cash rate target started to rise. De...

Unpacking Multi-Speed Conditions in Australia's Housing Markets

Tue, 18 Jun 2024 04:00:00 +0000

Source, CoreLogic Australian home values have risen 35.6% since the COVID-19 pandemic hit Australia in March 2020. The market saw a strong cycle of growth through the pandemic, and a short-but-sharp drop in values following the commencement of the rate hiking cycle, and made a full recovery in value by November 2023, hitting fresh record highs each month since. Below the headline figure, the market has been driven higher by multiple ‘speeds’ of growth across the capital cities an...

Housing Supply South East Queensland

Wed, 05 Jun 2024 02:00:00 +0000

Source: Courier Mail Home builder AVJennings has pulled out of a major development site in southeast Queensland, citing application delays and rising infrastructure costs, with its move coinciding with a slump in new housing through the region. The residential developer will no longer progress with its option for a 3,500 lot site at Caboolture, north of Brisbane, which was expected to be finalised late this year. The company will take a $17.2m hit from the decision. In an announcemen...

Home Value Index shows Sydney recovery, and Brisbane takes over from Canberra as the second-most expensive capital city

Mon, 03 Jun 2024 07:00:00 +0000

Source: CoreLogic CoreLogic’s Home Value Index rose 0.8% in May, the 16th consecutive month of growth and the largest monthly gain since October last year. The mid-sized capitals continued to lead the pace of growth, with Perth home values up 2.0% in May, Adelaide rising 1.8% and Brisbane up 1.4%. In dollar terms, it’s the equivalent of the median dwelling value rising by more than $12,000 month-to-month in each city. CoreLogic research director, Tim Lawle...

Queensland population growth is driving the property sector with the big money eyeing SEQ

Mon, 27 May 2024 05:00:00 +0000

Source: Courier Mail Southern migrants are helping to underpin the Queensland property sector, which has been described as the strongest in Australia. Population growth has put Queensland on the map for major property investors, and the Sunshine State is set to continue to attract big money at the expense of its southern rivals. Despite yields across all sectors softening in line with the rest of Australia because of higher interest rates, Consolidated Properties Group chief executiv...

Brisbane's median house price hits $924,498

Mon, 27 May 2024 05:00:00 +0000

Source: Domain.com.au If you've been trying to buy property in Brisbane during the past year, no, you are not the only one feeling the pain and no, it is not your imagination - prices really are rising quickly. Brisbane's median house price is now $924,498 - that's nearly $103,000 more than it was this time last year and a whopping $324,000 more than it was four years ago. In the Carindale SA3 region, which includes suburbs like Camp Hill, Carina Heights and Carina, house p...

Rent growth picked up at the start of 2024, taking rents to new record highs

Mon, 27 May 2024 05:00:00 +0000

Source: CoreLogic The median weekly rent value across all Australian dwellings has hit a fresh record high of $627 per week, and rental costs range from $770 per week in Sydney, to $547 in Hobart. Summary of median weekly rent and value change data as of April 2024 Region Median weekly rent Quarterly change in rents Annual change in rents Sydney $770 3.0% 9.0% Melbourne $589 2.8% 9.6% Brisbane $649 2.1% 8.5% ...

Where record immigration is hitting home prices hardest

Mon, 27 May 2024 05:00:00 +0000

Source: Courier Mail Record immigration continues to put upward pressure on home prices in most markets but the overall effect if dramatically different from city to city and state to state. Home values are still rising across Australia, with the national median price up 8.8 per cent over the past 12 months and the hottest markets currently being Western Australia and Queensland. However, we are seeing differences in the rates of price growth between states and territories. In the st...

Brisbane a 'landlord's market' as rents hit record high after fastest rise in 15 years

Mon, 22 Apr 2024 01:00:00 +0000

Source: Domain The rise makes Brisbane the second most expensive capital in Australia to rent a unit at $590 per week as of the March quarter – yet five years ago the city was the fourth most affordable. The priciest capital remains Sydney, where median weekly unit rents are $700. The figures, released today in the latest Domain Rent Report, revealed it’s the 11th consecutive quarter of growth for Brisbane unit rents and the steepest in about 15 years as the city battles a...

CoreLogic Home Value Index rises 1.6% in March quarter, adding around $12k to dwelling values

Mon, 22 Apr 2024 01:00:00 +0000

Source: CoreLogic CoreLogic's national Home Value Index (HVI) rose 0.6% in March, on par with February’s increase, taking the current upswing in housing values through its 14th straight month of growth. Since declining -7.5% between April 2022 and January 2023, the national HVI has increased 10.2%, or, in dollar terms, by approximately $71,832, rising to new record highs each month since November last year. Adelaide and Brisbane had 1.4% and 1.1% growth. The remaining ...

Beenleigh landowner anger over offer for office building for new train station

Wed, 03 Apr 2024 05:00:00 +0000

Source: Judith Kerr Owners of businesses in a once-bustling southside retail hub that are the latest target of the state government’s wrecking ball to meet rail needs have balked at the “unfair” price offered for the resumption of their properties. Southside landowners, whose businesses are being compulsorily resumed by the state government for a new fast rail train station, claim they are being ripped off while being forced out of sites they have worked from fo...

John Leeson - Fellowship of the REIQ

Tue, 26 Mar 2024 06:00:00 +0000

John Leeson was recently awarded a Fellowship of the REIQ, in recognition of his dedication to the real estate profession, long-standing membership with the Australian Property Institute and commitment to REIQ values. A Fellow is a practising member who has completed a total period of 15 years membership and who has been appointed by the Board for satisfying specified criteria. Fellows exemplify a high standard of professional conduct, an ongoing commitment to professional development and a...

Land Court Win

Tue, 19 Dec 2023 00:00:00 +0000

Source: Carwardines Land Court Win Recently Leeson Valuers represented a client to have the Land Value of an Industrial Property in the Enoggera Industrial Precinct reduced. Last year the Land Value was $1,350,000. This year the Valuer General increased the land value to $2,400,000! A 70% increase when both Stafford and Kedron Industrial areas received a 0% increase. Following a big fight in the Land Court the good guys came out with a fairer valuation of $1,750,000. The proble...

Regional markets lag capitals' rent and value growth

Mon, 04 Dec 2023 00:00:00 +0000

Source: CoreLogic After recording stronger growth and milder declines through the recent cycles, a new analysis of Australia's regional housing markets shows many areas have lagged their capital city counterparts over the past year. Since bottoming out in January, values across the combined capitals have risen to new record highs, while the combined regional market remains -2.5% below the peak recorded in May 2022. However, CoreLogic Economist and report author Kaytlin Ezzy s...

Home Prices in Brisbane and Queensland

Tue, 07 Nov 2023 01:00:00 +0000

Source: PropTrack Brisbane has led the nation in home price growth over the past month, with values hitting a new record high as homeowners brace for a potential rate hike next week, a new report reveals. PropTrack's latest Home Price Index, shows the city's unit and house prices combined gained another half a per cent in October to hit a new median price peak of $773,000 - almost as high as Melbourne's at $815,000 median. That's the equal biggest increase for th...

Leeson Valuers Welcome Alison Dell as a Registered Valuer

Tue, 07 Nov 2023 01:00:00 +0000

Leeson Valuers welcome Alison Dell into the team as a Registered Valuer, having just completed her submissions and interview with the Valuers Registration Board Qld. Alison commenced as an assistant valuer in August 2021 after completing her Property Economics degree from CQ University and has been a great asset to the team. Congratulations Alison! ...

Unit shortage exacerbates Australia's housing crisis

Mon, 09 Oct 2023 05:00:00 +0000

Source: Australia and New Zealand Property Journal Medium to high-density housing is an increasingly critical component of Australia’s residential real estate market, with CoreLogic’s August data suggesting units comprise 25.9% of national housing stock and around 30.4% of Australia’s capital city housing stock – up from 19.6% and 22.9% at the start of 2010, respectively. Around 30% cheaper than capital city houses, themedian value of $637,593 capital city unit...

Brisbane rents just reached a record high. Is any relief in sight?

Mon, 09 Oct 2023 05:00:00 +0000

Source: Domain In a first, Brisbane is now the second most expensive capital city to rent a unit – jointly with Canberra - after median rents rose to a record high of $550 per week. Brisbane’s median asking unit rent climbed $90 over the past year, or 19.6 per cent, the latest Domain Rent Report for the September quarter,released on Thursday, found, in a record stretch of rent rises that’s fueling extreme rental conditions. The report showed rental vacancy rates rema...

Three reasons rent growth will slow in 2024

Wed, 04 Oct 2023 05:00:00 +0000

Source: CoreLogic Rent values rose for the 35th consecutive month nationally in July. However, monthly rent growth has eased over the past four months. In regional Australia, rent value growth has been slowing since April last year, and rents are close to flattening out (albeit at high levels). Slowing rent growth is expected to be one of the key housing market trends next year, for several reasons. Firstly, the cash rate is expected to fall, which could increase investment and first home ...

Queensland market stabilising, steady growth ahead

Wed, 04 Oct 2023 05:00:00 +0000

Source: Australian Property Journal THE dust has settled with sales stabilising in Queensland’s property market whilst some interesting data show units and regional markets growth is outpacing greater Brisbane.
The latest REIQ quarterly median sales data reveals the median house price increased by 4.62% and median unit prices lifting 3% across Queensland, bringing the year-on-year growth to 5.26% and6.91%, respectively.
Queensland’s median house price reached $650,000, and ...

What could send home prices tumbling

Mon, 11 Sep 2023 04:00:00 +0000

Source: Courier Mail Five key factors will determine whether the property market “springs forward or falls back” over the back end of 2023 and into next year. 1. Interest rates What the RBA does in September with rates is critical. If they raise them, sentiment will drop and so may prices. 2. Supply and demand An over supply of listings will decrease prices. The best buying opportunities will occur towards the end of the year, when restless vendors will accept offers just to ...

Mortgage holders adjusting to 'new normal' of higher interest rates

Mon, 11 Sep 2023 04:00:00 +0000

Source: PEXA Mortgage holders adjusting to ‘new normal’ of higher interest rates, while loan refinancing reaches record highs The Reserve Bank of Australia’s (RBA) Board agreed to hold the cash rate steady at 4.10% for a third consecutive month today, increasing hopes that this may be the peak in the current rate-rising cycle, while new data from PEXA shows loan refinances hit record highs this month – but still no sign of a ‘mortgage cliff’. PEXA Chief ...

Qld flood victims taking up govt home buyback offer

Mon, 11 Sep 2023 04:00:00 +0000

Source: Australian Property Journal NEARLY 500 flood-impacted Queensland families have accepted an offer to have their home bought back under the state government’s Resilient Homes Fund (RHF). The program, a jointly-funded initiative delivered through Commonwealth-State Disaster Recovery Funding Arrangements (DRFA), was established in May last year following the catastrophic 2021-22 rainfall and flooding events. To date, 304 sale contracts under the voluntary home buy-back prog...

'A disaster': Unit rents rising more than seven times as fast as wages

Wed, 30 Aug 2023 05:00:00 +0000

Source: Domain Renters are facing a “diabolical situation” as unit rents rise more than seven times as fast as wages, and experts warn there is little prospect of relief on the way. Asking rents across the capital cities rose 26.1 per cent for units over the year to June, Domain data shows, soaring above the 3.6 per cent rise in the ABS wage price index over the 12-month period. Median asking rents for houses in the capitals rose by 11.5 per cent over the year, more than three ...

$1.5 billion plan to reactivate the heart of Woolloongabba

Tue, 22 Aug 2023 05:00:00 +0000

Source: Australian Property Journal Developers Belmonde Property Group and Sun Luxe Group have lodged a development application for their four-tower mixed-use project in the 2032 Olympic Games precinct. The $1.5 billion proposed Gabba Heart Precinct, located at 79 Logan Rood in Woolloongabba on a 9,361sqm site, was designed by Architects Cottee Parker and will comprise four towers ranging from 36 to 41 storeys. Three of the towers will include more than 1,387 built-to-rent apartments...

Regional Market Performance

Mon, 21 Aug 2023 04:00:00 +0000

Source: Corelogic House and Unit Markets Over the 12 Months to July 2023 Houses Best Performers Highest change in sales vols: -11.3% Townsville (Qld) Shortest days on market: 26 days Toowoomba (Qld) Worst Performers Lowest yearly growth: -20.4% Richmond-Tweed (NSW) The best performing state was undeniably Queensland, recording four out of these seven positive house value growth regions. These included Central Queensland (2.7%), the neighbouring region of Mackay&ndash...

Mortgage Cliff - Fact or Fiction?

Mon, 14 Aug 2023 05:00:00 +0000

Source: Rich Harvey The volume of fixed rate mortgages expiring is due to peak between June and October of 2023. Many households with highly leveraged mortgages will be facing a critical financial juncture as they come off cheap fixed rates of around 2% and are hit with a new mortgage rate of circa 6%. The key question is… what proportion of households will be able to cope with these higher rates ….and for how long? With cost of living pressures rising couple...

Great migration to Qld continues but slows due to housing shortage

Wed, 02 Aug 2023 04:00:00 +0000

Source: Realestate.com.au REGIONAL Queensland continues to attract the lion’s share of Australia’s internal movers despite a lack of housing slowing down the great migration from capital cities, a new report has revealed. The latest Regional Movers Index by the Regional Australia Institute (RAI) and the Commonwealth Bank revealed that the Sunshine Coast (17%) and Gold Coast (9%) recorded the biggest share of net internal migration during the 12 months to June, but both recorded ...

Growth in Australian Construction Costs Lowest Since 2020

Wed, 02 Aug 2023 03:00:00 +0000

Source: CoreLogic After more than two years of unabated increases in the price to build a new home or renovate, the pressure on construction costs has come off the boil, despite lingering volatility among individual material types. CoreLogic’s Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new home, returned a quarterly growth rate of 0.7% for the June quarter, the lowest rate since September 2020 and well below the 1.2% decade average. Th...

IRWA Conference - Denver, Colorado

Wed, 12 Jul 2023 03:00:00 +0000

John Leeson was invited to speak at the IRWA (International Right of Way) Association conference in Denver, Colorado in June 2023. It was an honour to participate in the international presentation on water with representatives from throughout the world at the IRWA Conference. The conference hosted over 1,200 international attendees. John was asked to participate in a Plenary Session: "The Ups and Downs of Water: Perspectives from Around the World", where John discussed...

Rental Insights - June 2023

Wed, 12 Jul 2023 02:00:00 +0000

Source: CoreLogic More than 40% of Australian house and unit markets record double-digit rent increase. CoreLogic’s national rental index shows the rate of rental growth has softened slightly, with rents up 0.8% in May compared to the 0.9% and 1% increases in April and March respectively. CoreLogic Economist Kaytlin Ezzy said the slowdown in the monthly growth rate had contributed to a fall in the annual trend, which dipped below double digits for the first time in 10 months, with re...

Strongest annual rental increase on record for Australia's capitals

Tue, 16 May 2023 05:00:00 +0000

Source: Corelogic.com.au A surge in overseas migrants and international students coupled with a significant shortfall in rental listings has led to the strongest annual rental increase on record for Australia’s capitals. The mismatch between supply and demand continues to be the driving force pushing capital city rents higher. Over the four weeks to April 30th, the total supply of capital city rental listings was -20.9% below the level recorded this time last year and -39.8% below the...

Affordable rental stock halved

Tue, 07 Mar 2023 01:00:00 +0000

Source: Australian Property Journal THE share of total properties listed for rent below $400 per week has nearly halved in the past year as the national rental crisis shows no sign easing. PropTrack’s Market Insight Report found that the share of properties listed on realestate.com.au has plunged to just 17.6%. In March 2020, at the beginning of the pandemic, that share was 42.5%. The share of listings under $400 per week has halved over the past year in Sydney, Melbourne, Brisbane, ...

Housing lending falls

Tue, 07 Mar 2023 01:00:00 +0000

Source: Australian Property Journal THE persistent decline of housing lending in Australia has accelerated in the 12consecutive month that it has fallen in. According to the ABS, the drop of 5.3% is the largest percentage drop since July 2022with investors (-6.0%) taking a heavier hit than owner occupiers (-4.9%). The latest data which excludes refinancing in lending, demonstrates the effect that inflation and interest rates are ultimately having on the housing market. Decline in house pr...

Rent control not a panacea for rental pain

Mon, 20 Feb 2023 00:00:00 +0000

Source: REIQ The Real Estate Institute of Queensland (REIQ) says calls from tenants’ advocates for rent control in Queensland is a short-sighted solution to a complex problem. REIQ CEO Antonia Mercorella said rent control would not be a panacea for the rental crisis and would likely have the opposite effect and exacerbate challenging rental conditions. “We are acutely aware of the devastating impacts of the rental crisis and against that backdrop, it’s understandabl...

Rental vacancies fall to new low

Mon, 06 Feb 2023 04:00:00 +0000

Source: Australian Property Journal After a seasonal rise over December, the national vacancy rate has again fallen to its lowest point on record for January at 0.8%. According to the latest analysis from Domain, the return to vacancy declines indicates Australia’s highly competitive nature, with asking rents also at historic high levels. Vacant rental listings in January were 36.1% lower than in the same month in 2022 and at all time January low, with increased demand completely abs...

Home loan demand declines further

Mon, 06 Feb 2023 04:00:00 +0000

Source: Australian Property Journal Housing finance fell again over December, in the eleventh consecutive decline bringing lending down 31% from its January 2022 peak. According to the latest data from ANZ Research, housing lending excluding refinancing was down 4.3% in December 2022, following a 4.2% decline in the previous month. The drop in lending was similarly felt for both investors and owner occupiers, at 4.4% m/m and 4.2% m/m respectively. Despite these declines, total lending for i...

Why are property investors quitting a market where rents are rising 25%?

Tue, 24 Jan 2023 02:00:00 +0000

Source: Courier Mail In a market where rents are rising 25 per cent, soft er prices and rising rates do not explain the exodus of private investors. In every city across Australia the rent crisis is hitting hard. Anyone who needs to rent finds out very quickly there is very little on offer and prices are rising rapidly. For property owners, however, it’s a red-hot market. The single biggest risk for private investors in property investment – the risk of missing rental inco...

Rent crisis is set to spread: the case for doubling rent assistance

Tue, 24 Jan 2023 02:00:00 +0000

Source: Australian Property Journal - Bruce Bradbury, Assoc Prof, Social Policy Research Centre, UNSW Sydney For many Australians, the rent crisis is just starting. Advertised rents have been soaring, but mainly for new rentals – so called“asking rents”. The broadest measure of rents actually paid – the rents on the 480,000 or so capital city properties the Bureau of Statistics uses to calculate the consumer price index – has climbed only modestly, increa...

Australians more indebted today, house prices sensitive to rate rises

Tue, 24 Jan 2023 01:00:00 +0000

Source: Australian Property Journal AUSTRALIAN home values recorded the greatest decline on record in the first month of the new year. CoreLogic’s Daily Home Value Index (HVI) took an 8.40% tumble on 7 January 2023,from its peak on 7 May 2022. This latest index result eclipsed the previous record in peak-to-trough declines, when home values dropped 8.38% between October 2017 and June 2019. CoreLogic noted that the previous housing downturn between 2017 and 2019 held for 2...

House Prices Fastest Fall in 40 Years

Tue, 02 Aug 2022 01:00:00 +0000

Source: API Property Journal AUSTRALIAN house prices are falling at their fastest rate since the early 1980s recession, and rising interest rates could see 30% wiped off values. Values fell by 1.3% in July, marking the third consecutive drop for CoreLogic’s national Home Value Index. After prices surged 28.6% through the pandemic growth phase, they are now 2.0% below the April peak. Five of the eight capital cities recorded a month-on-month decline, led by Sydney and Melbourne w...

Essential workers struggle to get a home as Qld's rental crisis deepens

Tue, 26 Jul 2022 01:00:00 +0000

Source: The Chronicle Essential workers such hospital workers and teaching staff, even students, are struggling to find a rental as Queensland’s vacancy rates plummet to punishing new lows across parts of the state. The REIQ’s Residential Vacancy Report for the June Quarter 2022 shows that vacancy rates have fallen again across 21 of the 50 Queensland housing markets, with two regions – Goondwindi and Southern Downs –practically putting up the “no vacancy sign&...

Queensland Rental Market Remains Under 'Squeeze'

Tue, 26 Jul 2022 01:00:00 +0000

Source: REIQ The rental supply squeeze has kept a tight grip on Queensland, despite some slight increases in vacancies on the coasts, according to the Real Estate Institute of Queensland’s (REIQ) latest report. The REIQ’s Residential Vacancy Report for the June Quarter 2022, released today, showed the vast majority of Queensland continues to endure incredibly tight and relatively flat vacancy rates, well below one percent, a far cry from a healthy 2.6 – 3.5 percent r...

Million Dollar Markets - Queensland

Mon, 18 Jul 2022 05:00:00 +0000

Source: CoreLogic Owing to the popularity of the state’s largest coastal markets (Gold Coast and Sunshine Coast), Queensland was the only state to have a similar number of million-dollar markets in both its capital city (122) and its rest of state area (107). Thanks to its relative affordability and a steady stream of interstate migration, values have surged across Queensland, with the number of million-dollar markets more than doubling across Brisbane (up 139.2%) and regional QLD (u...

Residential rents hit record highs as national vacancy rates plummet

Mon, 18 Jul 2022 05:00:00 +0000

Source: CoreLogic Australia’s rental market continues to tighten as low supply levels cause national vacancy rates to dive and rents to rise across all capital cities and property types over the past three months. CoreLogic’s Quarterly Rental Review for Q2 2022, released today, shows the national rental index increased 0.9% in the month to June and 2.9% over the June quarter, a 30 basis point increase on the three months to March. Dwelling rents are 9.1% higher across the...

Rental crisis worsens, vacancies plunge to 16 year low

Mon, 04 Jul 2022 05:00:00 +0000

Source: Australian Property Journal The national residential vacancy rate has been crunched to just 1% – its lowest level in 16 years – and is set to tighten further, as rents skyrocket and the national rental crisis worsens. New data from SQM Research showed there were 36,478 vacant properties across the country in May, down from 39,616 in April. Vacancy rates in Sydney and Melbourne came down over the month to 1.5% and 1.7% respectively, and were steady in their CBDs at...