leesonvaluers.com.au Blog https://www.leesonvaluers.com.au/ leesonvaluers.com.au Blog en 08/02/2016 12:00:00 PM A slowly tightening Brisbane inner city apartment market will see rents rise as supply & demand begins to balance out https://www.leesonvaluers.com.au/blog/a-slowly-tightening-brisbane-inner-city-apartment-market-will-see-rents-rise-as-supply---demand-begins-to-balance-out https://www.leesonvaluers.com.au/blog/a-slowly-tightening-brisbane-inner-city-apartment-market-will-see-rents-rise-as-supply---demand-begins-to-balance-out Source:  Chris herde, The Courier-Mail Confidence is returning to the Brisbane inner city apartment market as vacancy tightens and developers start planning new projects. RENTS are expected to rise as the Brisbane inner city apartment market continues to tighten with oversupply hitting its peak four years ago. According to JLL's latest 4Q 2019 Residential Apartment Market Report inner city apartment completions across Australia's capital cities fell 21 per cent last year. JLL's head of residential research Australia, Leigh Warner said developers were growing in co... Tue, 25 Feb 2020 11:00:00 +1000 Are Brisbane Units Still Over Supplied? https://www.leesonvaluers.com.au/blog/are-brisbane-units-still-over-supplied- https://www.leesonvaluers.com.au/blog/are-brisbane-units-still-over-supplied- Source:  Corelogic   The narrative of over-supply and under-performance in Brisbane units has dominated conversations around south-east Queensland property for almost 5 years. At January 2020, Brisbane unit values remain 11.5% below their 2010 peak to be at similar levels to 2007. But the latest data on property values, construction and population growth suggest that the story is changing. It is worth noting that over-supply is very much a unit-centric story. Houses across Brisbane have actually seen quite strong capital growth returns in the past few years, except for a bri... Tue, 25 Feb 2020 11:00:00 +1000 Undersupply Looms in Brisbane Apartment Market https://www.leesonvaluers.com.au/blog/undersupply-looms-in-brisbane-apartment-market https://www.leesonvaluers.com.au/blog/undersupply-looms-in-brisbane-apartment-market POPULATION growth will drive Brisbane's apartment market towards undersupply within 18 months, assisted by the low cost of finance, new first home buyer incentives and the slowdown in new construction. The Inner Brisbane Unit Market Residential Residual Stock Analysis from m3property showed 10.6% of units in developments with at least 50 units or around 1,500 units completed since January 2016 remained in the ownership of the project's developer. However, few high density projects have commenced since 2018 and supply has now reached a low point in the cycle. Report author, m... Mon, 10 Feb 2020 14:00:00 +1000 National Housing Market to Stabilise, Brisbane Will Lead https://www.leesonvaluers.com.au/blog/national-housing-market-to-stabilise--brisbane-will-lead https://www.leesonvaluers.com.au/blog/national-housing-market-to-stabilise--brisbane-will-lead Source:  API - Liz Jordan BRISBANE holds the strongest prospects for house price growth over the medium-term, according to a QBE report, while the lag in apartment supply responding to market demand could provide further volatility. The Australian Housing Outlook 2019-2022 report, commission by QBE and authored by BIS Oxford Economics, says easing lending restrictions, federal and state tax concessions and lower interest rates are expected to encourage borrowers back into the market. House prices across all capital cities are expected to stabilise over the coming year, before s... Tue, 04 Feb 2020 13:00:00 +1000 Brisbane Rents: Landlords in 'rosier position' as unit oversupply eases https://www.leesonvaluers.com.au/blog/brisbane-rents--landlords-in--rosier-position--as-unit-oversupply-eases https://www.leesonvaluers.com.au/blog/brisbane-rents--landlords-in--rosier-position--as-unit-oversupply-eases Source: Domain - Jim Malo Brisbane rents are creeping up and the proportion of vacant homes is inching down, as the city's rental market recovers from years of oversupply, experts say. Asking rents for units rose 1.3 per cent to a median $380 a week over the past year, the latest figures from the Domain Rental Report for the September quarter show. House rents also edged up 1.3 per cent to a median $405 over the same time period, according to the report released on Thursday. The combined vacancy rate fell 0.1 percentage points to 2.2 per cent during the September quarter. It... Tue, 04 Feb 2020 13:00:00 +1000 Investor Paradise: Brisbane a Landlord's Market as Rents Rise https://www.leesonvaluers.com.au/blog/investor-paradise--brisbane-a-landlord-s-market-as-rents-rise https://www.leesonvaluers.com.au/blog/investor-paradise--brisbane-a-landlord-s-market-as-rents-rise Source:  Courier Mail - Elizabeth Tilley   BRISBANE is fast becoming a landlords' market as vacancy rates tighten and rents continue to climb, putting investors in the box seat in 2020. New data released by SQM Research reveals asking rents for houses increased 0.9 per cent in December to $473 a week that's 3.4 per cent higher than they were a year ago. The rental vacancy increased slightly last month, but is still tight at 2.9 per cent, and lower than the 3.2 per cent recorded the same time last year. Nationally, the residential rental vacancy rate increased m... Tue, 04 Feb 2020 13:00:00 +1000 Residential Property Confidence Rebounds https://www.leesonvaluers.com.au/blog/residential-property-confidence-rebounds https://www.leesonvaluers.com.au/blog/residential-property-confidence-rebounds Source:  API - Liz Jordan   HOUSING market sentiment across the country has hit a near six-year high, as Western Australians grew in confidence at a faster rate than anywhere else, and NAB upgraded its forecasts for prices. The latest NAB Residential Property Survey, housing market sentiment was positive among property professionals in all states for the first time since the first quarter of 2018. It was again highest in Victoria (up 7 to 47) and improved most in New South Wales (up 29 to +31) as house prices rebounded. In WA, the index recorded its first positive read i... Tue, 04 Feb 2020 13:00:00 +1000 9 Essestial Charts on Austalian Housing https://www.leesonvaluers.com.au/blog/9-essestial-charts-on-austalian-housing https://www.leesonvaluers.com.au/blog/9-essestial-charts-on-austalian-housing Source:  Livewire Markets - Patrick Poke We asked three experts whether the Australian housing market had found a bottom in recent months. While the contributors opinions differed on the overall direction and level of risk, one thing they all appeared to agree on was that no outcome is certain. Uncertainty is a fact of investing, which is probably why the saying (often incorrectly attributed to Yogi Berra), "predictions are difficult, especially about the future", is so popular among investors. While we can't predict the future, we can assess the present by looking ... Tue, 04 Feb 2020 12:00:00 +1000 Market Recoveries are Generally Led by Stabilising Values Followed by a Rise in Activity https://www.leesonvaluers.com.au/blog/market-recoveries-are-generally-led-by-stabilising-values-followed-by-a-rise-in-activity https://www.leesonvaluers.com.au/blog/market-recoveries-are-generally-led-by-stabilising-values-followed-by-a-rise-in-activity Source: CoreLogic - Cameron Kusher The national housing market has just experienced its largest downturn in dwelling values since at least the 1980s. The fact that values nationally fell by less than 10% speaks to the ongoing strength of the housing market over the past 40 years which has culminated in Australia being one of the most expensive places in the world in which to buy property. Since the federal election in May, there have been ongoing signs of improving market conditions. This has been driven by a number of factors including: an unexpected win by the Coalition in the feder... Tue, 04 Feb 2020 12:00:00 +1000 Dwelling values rise in October, the fourth consecutive month of growth in the national index, taking Australian dwelling values 2.9% higher since finding a floor in June https://www.leesonvaluers.com.au/blog/dwelling-values-rise-in-october--the-fourth-consecutive-month-of-growth-in-the-national-index--taking-australian-dwelling-values-2-9--higher-since-finding-a-floor-in-june https://www.leesonvaluers.com.au/blog/dwelling-values-rise-in-october--the-fourth-consecutive-month-of-growth-in-the-national-index--taking-australian-dwelling-values-2-9--higher-since-finding-a-floor-in-june Source: CoreLogic The CoreLogic Home Value Index results for October out today confirm a 1.2% rise in national dwelling values over the month, delivering the fourth straight month of rising values. The October result was the largest month-on-month gain in the national index since May 2015. The recent gains come after a broad-based decline in housing values, with the national index declining 8.4% between October 2017 and June 2019. The positive October result takes national dwelling values 2.9% off their June 2019 floor, however values remain 5.7% below their peak, highlighting that desp... Tue, 04 Feb 2020 12:00:00 +1000 Has the Housing Market Bottomed? https://www.leesonvaluers.com.au/blog/has-the-housing-market-bottomed- https://www.leesonvaluers.com.au/blog/has-the-housing-market-bottomed- Source:  Livewire Markets - Patrick Poke Negative bond yields, Trump's Trade War, and protests in Hong Kong have stolen all the headlines in recent months, but (relatively) quietly, a bottom has been forming in the Australian residential property market or has it? Several positive surprises have acted to support prices, such as the return of the Liberal-coalition, and the removal of APRA's 7% serviceability buffer for assessing mortgages, but risks to the downside have not disappeared. To make sense of the situation, we reached out to three Livewire contributors to get th... Tue, 04 Feb 2020 11:00:00 +1000 Million Dollar Sales Take a Dive Over the Financial Year https://www.leesonvaluers.com.au/blog/million-dollar-sales-take-a-dive-over-the-financial-year https://www.leesonvaluers.com.au/blog/million-dollar-sales-take-a-dive-over-the-financial-year Source: Corelogic Over the 2018-19 financial year the number of settled property sales fell substantially, down -17.2% from the previous year. Because of the significant difference in sales year-to-year when we are analysing the market performance, especially in terms of sales across price points, looking at the shifts in market share provides a much more accurate picture. Over the 12 months to June 2019, 12.5% of all houses and 8.0% of units sold nationally transacted for at least $1 million. The share of million dollar house sales was down from 14.7% a year earlier and was also well... Wed, 15 Jan 2020 15:00:00 +1000 O'Rorke & CVS Unveil $850m Brisbane Project https://www.leesonvaluers.com.au/blog/o-rorke---cvs-unveil--850m-brisbane-project https://www.leesonvaluers.com.au/blog/o-rorke---cvs-unveil--850m-brisbane-project Source:  Australian Property Journal Consolidated Properties Group and CVS Lane Capital Partners have unveiled the $850 million masterplan for the Yeerongpilly Green urban renewal project in south west Brisbane. The developers are looking to transform the 14-hectare riverside site into an urban village and cultural, music and arts hub, with 1,200 residences, 28,000 sqm of commercial space, an 8,750 sqm retail and dining precinct, and 1.8 hectares of parkland. The first residential stage, comprising three boutique buildings, was released to the market on Saturday with prices ran... Wed, 15 Jan 2020 15:00:00 +1000 The Importance of Demonstrating Expertise: Eckford v Six Mile Creek - An article highlighting John Leeson's Expert Witness experience https://www.leesonvaluers.com.au/blog/the-importance-of-demonstrating-expertise--eckford-v-six-mile-creek https://www.leesonvaluers.com.au/blog/the-importance-of-demonstrating-expertise--eckford-v-six-mile-creek Source: Experts Direct - Llewellyn Horgan What strengthens an expert opinion? In Eckford v Six Mile Creek Pty Ltd (No 2) [2019] FCA 1307, the court emphasised three aspects of expert reporting that help to demonstrate the reliability and strength of expert opinions. Background: The Applicant in this matter purchased a seafront property. He alleged that the Respondents (the previous owners of the property) represented that he would enjoy unobstructed scenic views of both the nearby Mount Coolum and the ocean from the property. He further alleged that the Respondents made represent... Wed, 20 Nov 2019 11:00:00 +1000 CoreLogic: National dwelling values stabilise in July as five of the eight capitals record a slight rise in value https://www.leesonvaluers.com.au/blog/corelogic--national-dwelling-values-stabilise-in-july-as-five-of-the-eight-capitals-record-a-slight-rise-in-value https://www.leesonvaluers.com.au/blog/corelogic--national-dwelling-values-stabilise-in-july-as-five-of-the-eight-capitals-record-a-slight-rise-in-value Source:  Corelogic   CoreLogic head of research Tim Lawless said, "Our national dwelling value index may have found a floor in July, with dwelling values holding firm over the month following a consistent trend towards smaller month-on-month declines through the first half of the year. Since peaking, the national index is down 8.3%." "The stabilisation in housing values is becoming more broadly based, with five of the eight capital cities recording a subtle rise in values over the month, while the regional areas of South Australia, Tasmania and Northe... Mon, 05 Aug 2019 14:00:00 +1000 Property sales tumble leading to prediction of '100,000 job losses' https://www.leesonvaluers.com.au/blog/property-sales-tumble-leading-to-prediction-of--100-000-job-losses- https://www.leesonvaluers.com.au/blog/property-sales-tumble-leading-to-prediction-of--100-000-job-losses- Source: Brisbane Times   Official data showing further falls in new housing approvals and ongoing weakness in the apartments market have reaffirmed warnings of more pain to come in the building industry, including the potential loss of 100,000 jobs. In seasonally adjusted terms, a 6.5% drop in the weakened attached housing segment, which includes apartments and townhouses, dragged the national total to a 1.2% fall, according to the Australian Bureau of Statistics. Detached house approvals increased by 0.4%, and are down by 14.8% year on year. Apartments and townhouses ap... Wed, 31 Jul 2019 15:00:00 +1000 Move over Sydney & Melbourne, it's Brisbane's time to shine https://www.leesonvaluers.com.au/blog/move-over-sydney---melbourne--it-s-brisbane-s-time-to-shine https://www.leesonvaluers.com.au/blog/move-over-sydney---melbourne--it-s-brisbane-s-time-to-shine Source - Australian Property Journal BRISBANE will lead the nation for price growth over the next three years, with a forecast 20% rise in house and 14% in apartment prices outpacing all capital cities as Australia's residential market recovers from the downturn. According to BIS Oxford Economics' Residential Property Prospects 2019 to 2022 report, despite being on the brink of the bottom, the market will have to wait for any "meaningful recovery". Reductions in interest rates and the Australian Prudential Regulation Authority easing of constraints on lender... Wed, 24 Jul 2019 14:00:00 +1000 Housing downturn losing steam as the pace of declining home values continues to reduce in May https://www.leesonvaluers.com.au/blog/housing-downturn-losing-steam-as-the-pace-of-declining-home-values-continues-to-reduce-in-may https://www.leesonvaluers.com.au/blog/housing-downturn-losing-steam-as-the-pace-of-declining-home-values-continues-to-reduce-in-may Source:  CoreLogic   Although at a broad level dwelling values are still trending lower across the regions of Australia, the pace of declines eased further in May, continuing a trend that has been evident since the beginning of 2019. Nationally, dwelling values were down 0.4% in May, which was the smallest month-on-month decline since May 2018. CoreLogic head of research Tim Lawless said, "This improvement is primarily being driven by a slower rate of decline in Sydney and Melbourne where housing values were previously falling at the fastest rate of any capita... Wed, 12 Jun 2019 10:00:00 +1000 Are fewer mortgage applications or tighter credit conditions driving the ongoing declines in mortgage demand? https://www.leesonvaluers.com.au/blog/are-fewer-mortgage-applications-or-tighter-credit-conditions-driving-the-ongoing-declines-in-mortgage-demand https://www.leesonvaluers.com.au/blog/are-fewer-mortgage-applications-or-tighter-credit-conditions-driving-the-ongoing-declines-in-mortgage-demand Source:  Cameron Kusher - CoreLogic Data for lending to households and businesses data for December 2018 was released earlier this week. This data series replaces the old housing finance and lending finance series and includes some different data. Specifically focusing on lending to households the data shows that the weakening of demand for mortgages has continued. Investor mortgage lending has been weakening for some time however, over recent months there has been a rapid slowdown in lending to owner-occupiers. Over the month, there was a total of $26.0 billion in mortgage ... Tue, 19 Feb 2019 09:00:00 +1000 Lending Plunges Further https://www.leesonvaluers.com.au/blog/lending-plunges-further https://www.leesonvaluers.com.au/blog/lending-plunges-further Source:  Australian Property Jornal - Liz Jordan HOUSEHOLD lending continued to fall in December, with numbers down across owner occupier and investment dwelling segments as the residential market continued to weaken. Official data released showed the seasonally adjusted value of new lending commitments for investment dwellings plummeted by 27.8% year-on-year, and by 16.2% for owner occupiers. Seasonally adjusted, total lending to households came in $32.025 billion. There was a 5.9% decrease in December to $17.387 billion lending to households for dwellings, excluding re... Mon, 18 Feb 2019 14:00:00 +1000 Only two things matter for housing this year https://www.leesonvaluers.com.au/blog/only-two-things-matter-for-housing-this-year https://www.leesonvaluers.com.au/blog/only-two-things-matter-for-housing-this-year Source:  livewiremakrets.com - Pete Wargent In early 2018 I wrote on Livewire that the year ahead would be a mixed bag for housing, as tightness in markets like Hobart contrasted the negative outlook for Sydney, which appeared to be at a market-top. As the year played out, a number of the concerns raised came to the forefront of the property discussion. As a result, the team at Livewire got in touch and asked me to update my views on the housing market. In this exclusive article, I share my take on what happened in 2018, what's changed significantly in the past 12 months, th... Mon, 18 Feb 2019 10:00:00 +1000 National dwelling values post first annual decline since 2012 https://www.leesonvaluers.com.au/blog/national-dwelling-values-post-first-annual-decline-since-2012 https://www.leesonvaluers.com.au/blog/national-dwelling-values-post-first-annual-decline-since-2012 Source: CoreLogic The May CoreLogic home value index results out today confirm that national dwelling values dipped by 0.1% over the month, fuelled by weaker conditions in Melbourne and Sydney while regional dwelling values continued to tick higher. Australian dwelling values slipped 0.1% lower in May, taking the annual change (-0.4%) into negative territory for the first time since October 2012. In a sign the housing market downturn is becoming more entrenched, May marked the eighth consecutive month-on-month fall since the national market peaked in September last year, taking t... Tue, 11 Dec 2018 14:00:00 +1000 Resident holds up Brisbane City Council over Grange Rd resumption https://www.leesonvaluers.com.au/blog/resident-holds-up-brisbane-city-council-over-grange-rd-resumption https://www.leesonvaluers.com.au/blog/resident-holds-up-brisbane-city-council-over-grange-rd-resumption Source: Courier Mail A Brisbane man is reliving a nightmare as he battles the Brisbane City Council for the second time in a decade over the resumption of his land.     The BCC wants to take a chunk out of 11 front yards along Grange Rd, Grange to widen an arterial road and improve an intersection which is a traffic jam during morning peak hour. The projects means Grange Rd, which carries 29,000 vehicles a day, will be within a few metres of Paul Kelsall's house which he bought after his Windsor properties were resumed to make way for the Clem7 tu... Thu, 29 Nov 2018 14:00:00 +1000 Negative gearing and CGT changes will reduce housing supply https://www.leesonvaluers.com.au/blog/negative-gearing-and-cgt-changes-will-reduce-housing-supply https://www.leesonvaluers.com.au/blog/negative-gearing-and-cgt-changes-will-reduce-housing-supply Source: Australian Property Journal THE Labor party's policies on negative gearing and to half the capital gains tax discount to 25% will reduce the supply of new housing and decimate the property market, according to industry groups. According to modelling prepared by Cadence Economics, if the policies are implemented, it will see up to 42,000 less new dwellings built across the country; up to 32,000 less full-time jobs; up to $11.8 billion less building activity and up to $210 million less renovation building activity. CEO Denita Wawn said Master Builders calls on the ALP ... Wed, 31 Oct 2018 14:00:00 +1000 Energy Efficiency Adds Value To Home Prices https://www.leesonvaluers.com.au/blog/energy-efficiency-adds-value-to-home-prices https://www.leesonvaluers.com.au/blog/energy-efficiency-adds-value-to-home-prices Source OilPrice.com People are willing to pay a premium for energy-efficient homes, according to new research. Georgia Warren-Myers, a property lecturer at the University of Melbourne and Franz Fuerst of the University of Cambridge analyzed tens of thousands of property transactions over five years, from 2011-2016, in Australia's Capital Territory, where mandatory disclosure has been in place since the late 1990s. "The data shows people are valuing energy efficiency and making decisions based on the energy efficiency portrayed in these ratings" Their researc... Wed, 12 Sep 2018 14:00:00 +1000 The continued decline in Austrlaian housing sales, in one chart https://www.leesonvaluers.com.au/blog/the-continued-decline-in-austrlaian-housing-sales--in-one-chart https://www.leesonvaluers.com.au/blog/the-continued-decline-in-austrlaian-housing-sales--in-one-chart By David Scutt If the chart below is anything to go by, times are getting tougher for any individual, business or government that relies upon turnover in Australia's housing market. From CoreLogic, it shows the amount of settled housing transactions in Australia on a six-month moving average basis. For clarity, CoreLogic says off-the-plan sales are not counted until completion, meaning there will be some upwards revision to recent sales volumes given the high volume of units currently under construction across the country. Right no... Wed, 08 Aug 2018 14:00:00 +1000 Changes to GST on property transactions https://www.leesonvaluers.com.au/blog/changes-to-gst-on-property-transactions https://www.leesonvaluers.com.au/blog/changes-to-gst-on-property-transactions Source:  ATO Purchasers of new residential premises or potential residential land now have to pay the GST directly to us as part of the settlement. These changes started on 1 July 2018. The amount of GST hasn't changed, just who is required to pay the GST to us. You now pay the GST directly to us instead of paying it to the developer as part of the purchase price. You won't have to register for GST to make this payment to us. When you make a payment ensure you include your payment reference number. Payments will be accepted at Australia Post offices later... Tue, 03 Jul 2018 15:00:00 +1000 Good things don't always come in threes https://www.leesonvaluers.com.au/blog/good-things-don-t-always-come-in-threes https://www.leesonvaluers.com.au/blog/good-things-don-t-always-come-in-threes Source:  Australian Property Journal OPINION: A RECENT Supreme Court of NSW decision in Huang & Anor v Ceylan has implications for valuers, vendors and buyers of property, according to lawyers. Introduction It is, unfortunately, not an uncommon practice to see home units (and houses for that matter) advertised as having 3 bedrooms, when they were originally approved and constructed as 2 bedroom dwellings. This practice leaves purchasers especially vulnerable if they have not done their due diligence. In the recent case of Huang & Anor v Ceylan [2018] NSWSC 30... Tue, 03 Jul 2018 15:00:00 +1000 Regional Housing Market Value Growth Performance https://www.leesonvaluers.com.au/blog/regional-housing-market-value-growth-performance https://www.leesonvaluers.com.au/blog/regional-housing-market-value-growth-performance Source:  CoreLogic Over the 12 months to April 2018, dwelling values across the combined regional markets have increased by 2.4% compared to a -0.3% fall in values across the combined capital cities.  Although values in regional areas are continuing to rise, the rate of annual growth has slowed from a recent peak of 6.4% in June 2017, although the rolling quarterly rate of growth has shown an accelerating trend over the past six months. Based on the 'Statistical Area level 4' (SA4) geography, there are 42 regions across Australia outside of the capital cities. &... Tue, 03 Jul 2018 15:00:00 +1000 Two-speed apartment market emerges in Brisbane https://www.leesonvaluers.com.au/blog/two-speed-apartment-market-emerges-in-brisbane https://www.leesonvaluers.com.au/blog/two-speed-apartment-market-emerges-in-brisbane Source:  Australian Property Journal NEW research shows Brisbane has a two-speed property market, with the CBD showing strong gains in both apartment sales and values in the December quarter, although concerns remain over the effect of new supply being added throughout the rest of this year. The Inner City Apartment report from Place Projects shows the CBD, defined as postcode 4000, holds less than 15% of Brisbane's total unit supply, and that the city has numerous "micro markets" that are all performing differently. There were just 293 apartments available... Tue, 03 Jul 2018 15:00:00 +1000 Apartment oversupply pushes Brisbane vacancies higher https://www.leesonvaluers.com.au/blog/apartment-oversupply-pushes-brisbane-vacancies-higher https://www.leesonvaluers.com.au/blog/apartment-oversupply-pushes-brisbane-vacancies-higher Source:  Australian Property Journal BRISBANE renters were drawn to the middle-ring suburbs over the December quarter, as the oversupply of apartments in the inner city push vacancy rates up to 4% for just the third time in a decade. Meanwhile, regional Queensland broadly continued its year of recovery, with a number of markets moving from weak situations towards healthy status. The latest data from the REIQ showed inner Brisbane vacancies were up from 3.7% to 4% over the quarter, while the middle ring taking in between 5km and 20km from the city centre tightened dramati... Tue, 03 Jul 2018 14:00:00 +1000 Foreign buyer activity falls to six-year low https://www.leesonvaluers.com.au/blog/foreign-buyer-activity-falls-to-six-year-low https://www.leesonvaluers.com.au/blog/foreign-buyer-activity-falls-to-six-year-low Source:  Australian Property Journal FOREIGN buyers continue to retreat from Australia's housing market, as Sydney's cooling market prompted NAB to downgrade its 2018 price forecast. The major lender's latest Quarterly Residential Property Survey showed share of foreign buyers tumbled further in the December quarter to a 6-year low of 8.4% in new property markets, and a five-year low of 5.5% in the established markets. "Clearly, the efforts of policymakers both domestic and offshore to stem the tide of foreign capital entering Australian property markets... Tue, 03 Jul 2018 14:00:00 +1000 Legislative changes to GST on property purchases https://www.leesonvaluers.com.au/blog/legislative-changes-to-gst-on-property-purchases https://www.leesonvaluers.com.au/blog/legislative-changes-to-gst-on-property-purchases Source:  Australian Property Journal In January 2018 the Government introduced legislation designed to strengthen compliance with GST law in the property development sector. Under the new arrangements, purchasers will withhold the GST on the purchase price of new residential premises and new residential subdivisions, and remit the GST directly to the Australian Taxation Office (ATO) as part of settlement. The purpose is to address GST tax evasion while minimising compliance impacts on industry and purchasers. The change forms part of the Treasury Laws Amendment (2018 Mea... Tue, 03 Jul 2018 14:00:00 +1000 Construction Cost Update February 2018 https://www.leesonvaluers.com.au/blog/construction-cost-update-february-2018 https://www.leesonvaluers.com.au/blog/construction-cost-update-february-2018 Source:  Mitchell Brandtman Will increased infrastructure spending offset the drop in residential approvals, and what will be the impact on residential construction costs over the next 12 months? Mitchell Brandtman explore the current residential construction cost market for 2018. National Escalation Forecast National Commentary Regardless of where individual States sit, overall residential building approvals on the East Coast remain well above their long term averages. However the heat is starting to come out of the market and this is slowl... Tue, 03 Jul 2018 14:00:00 +1000 REIA calls for transparency of agent referral sites https://www.leesonvaluers.com.au/blog/reia-calls-for-transparency-of-agent-referral-sites https://www.leesonvaluers.com.au/blog/reia-calls-for-transparency-of-agent-referral-sites Source:  Felicity Moore - REIQ Real estate agent selection agencies should be treated the same as financial advisers and directly remunerated by the vendor, according to the Real Estate Institute of Australia (REIA). In a submission to the Royal Commission into Misconduct in the Banking Industry REIA President Malcolm Gunning said there has been a proliferation of businesses established to assist vendors selling their homes by choosing an agent for them. "These businesses portray themselves as an impartial consumer advocate offering a free service to choose the most... Tue, 03 Jul 2018 14:00:00 +1000 Desane wins landmark case against NSW compulsory acquisition https://www.leesonvaluers.com.au/blog/desane-wins-landmark-case-against-nsw-compulsory-acquisition https://www.leesonvaluers.com.au/blog/desane-wins-landmark-case-against-nsw-compulsory-acquisition Source:  Australian Property Journal ASX-listed Desane Group has successfully fought off the New South Wales government in the Supreme Court, in a landmark ruling over the compulsory acquisition of its prized site. The Supreme Court of NSW decision paves the way for Desane to move forward with plans for a $100 million, 200-apartment mixed-use project at a Rozelle property that the Roads and Maritime Services authority had sought to compulsorily acquire. Justice Hammerschlag found yesterday that the proposed acquisition notice over the Rozelle property by the RMS was of n... Tue, 03 Jul 2018 14:00:00 +1000 The 2018 Property Market https://www.leesonvaluers.com.au/blog/the-2018-property-market https://www.leesonvaluers.com.au/blog/the-2018-property-market Source:  Peter O'Malley - Inside Real Estate 8 issues that will determine the year ahead Forecasting the performance of the property market in 2018 is anyone's guess. Depending on what you believe, boom/ bust or somewhere in between, you are sure to find an analyst that agrees. The issue with making a forecast is one tends to be prone to confirmation bias. 'A confirmation bias is a type of cognitive bias that involves favoring information which confirms previously existing beliefs or biases' as defined by one source. The key to accurately reading any m... Tue, 03 Jul 2018 13:00:00 +1000 Outlook 2018: A mixed bag for residential housing https://www.leesonvaluers.com.au/blog/outlook-2018--a-mixed-bag-for-residential-housing https://www.leesonvaluers.com.au/blog/outlook-2018--a-mixed-bag-for-residential-housing Source: Pete Wargent, Wargent Advisory We should expect to see variations around the country for residential housing in 2018. For example, the Hobart market is extremely tight and there will be ongoing price gains there, and some peri-urban regional markets in New South Wales & Victoria are tracking well. Overall, though, access to credit is being squeezed at present, and on average that means lower price growth and less investor activity. There is a possibility that after the initial impact of macroprudential measures washes through lending loosens a bit later in the year gr... Tue, 03 Jul 2018 13:00:00 +1000 Inner-Brisbane Apartments - What Happens in 2018 https://www.leesonvaluers.com.au/blog/inner-brisbane-apartments---what-happens-in-2018 https://www.leesonvaluers.com.au/blog/inner-brisbane-apartments---what-happens-in-2018 Source:  Bees Nees - City Realty Somewhere out in Brisbane's suburbs there's a huge industrial yard full of disassembled tower cranes. Once reaching high and proud over our inner-city's shiny new apartment buildings but now disembodied, laying prone in the dust. Waiting until they're next needed. And many of us hope they rot and rust for some time to come! We've simply had too many apartments built and it's been pleasing to see construction slowing and, more importantly, many approved projects not proceeding. So what of 2018 and the inner-Brisbane apa... Tue, 03 Jul 2018 13:00:00 +1000 Developers under pressure, apartment stock set to fall by 25% https://www.leesonvaluers.com.au/blog/developers-under-pressure--apartment-stock-set-to-fall-by-25- https://www.leesonvaluers.com.au/blog/developers-under-pressure--apartment-stock-set-to-fall-by-25- Source:  Australia Property Journal APRA'S macroprudential measures coupled with state and federal government policies have had an impact on activity in the apartment market nationwide, with the total number of units under construction falling by around 10,000. According to JLL's Apartment Markets report for G4 2017, self-regulation from developers in the face of tighter lending conditions and slower pre-sales rates has seen the number of projects under construction dwindle, as the country moves past the peak of supply in the current cycle. It is expected that so... Tue, 03 Jul 2018 13:00:00 +1000 Industrial property landlords preparing for Amazon impact https://www.leesonvaluers.com.au/blog/industrial-property-landlords-preparing-for-amazon-impact https://www.leesonvaluers.com.au/blog/industrial-property-landlords-preparing-for-amazon-impact Source:  Brisbane Times The imminent arrival of online giant, Amazon, has seen a surge in demand for industrial warehouses, with gross leasing activity accelerating past historical benchmarks in the third quarter of 2017, according to JLL research. This has been particularly prominent along the eastern seaboard. Amazon has its first base in Dandenong, in south-east Melbourne, and is said to be preparing for a pre-Christmas "launch". It is believed to be looking at a site at Eastern Creek and another at Camden, in south-west Sydney. At the... Wed, 22 Nov 2017 11:00:00 +1000 Apartments and skyrocketing commercial property a risk, says RBA https://www.leesonvaluers.com.au/blog/apartments-and-skyrocketing-commercial-property-a-risk--says-rba https://www.leesonvaluers.com.au/blog/apartments-and-skyrocketing-commercial-property-a-risk--says-rba Source:  Australian Property Journal CHINA'S tightening on capital movement out of the country has tempered buyers demand in the Australian residential market, however the surge in apartment construction continues to pose the greatest risk. The Reserve Bank of Australia's head of financial stability, Jonathan Kearns, told the Aus-China Property Developers, Investors & Financiers lunch in Sydney yesterday that the capital controls had seen purchases of new properties by foreign buyers ease over the past year. Around 75% of offshore buyers are from China. Foreign ... Tue, 21 Nov 2017 12:00:00 +1000 Market Slowdown Driven By Investors? https://www.leesonvaluers.com.au/blog/market-slowdown-driven-by-investors- https://www.leesonvaluers.com.au/blog/market-slowdown-driven-by-investors- Source:  Corelogic Dwelling value growth has slowed as demand from investor's falls; is this just a coincidence or does it highlight just how reliant the housing market has become on demand from the investor segment? Over the past five years, dwelling values nationally have increased by 39.3% largely driven by Sydney and Melbourne where values have increased by a much larger amount.  At their peak in May 2015, investors accounted for 54.8% of new (excluding refinances) mortgage demand which was an historic high.  With investor demand now slowing, falling a ... Mon, 20 Nov 2017 15:00:00 +1000 RBS calls out Brisbane apartment glut risk https://www.leesonvaluers.com.au/blog/rbs-calls-out-brisbane-apartment-glut-risk https://www.leesonvaluers.com.au/blog/rbs-calls-out-brisbane-apartment-glut-risk Source:  Brisbane Times A senior Reserve Bank official has flagged concerns about the "awful lot" of apartments due to flood the Brisbane property market, and the potential hit facing investors who had bet on making capital gains. Michele Bullock, assistant governor for the financial system, on Thursday signalled that the RBA's long-running worries about an oversupply of apartments were most acute in relation to Brisbane, but it was more comfortable with the wave of high-rise construction in the other east coast capitals. The central bank had previously warned... Tue, 24 Oct 2017 15:00:00 +1000 Brisbane rental market and what's really happening https://www.leesonvaluers.com.au/blog/brisbane-rental-market-and-what-s-really-happening https://www.leesonvaluers.com.au/blog/brisbane-rental-market-and-what-s-really-happening Source:  Brisbane City Buzz - BeesNees City Realty   Few things are more on the mind of inner-Brisbane property investors right now where's the rental market headed? The media clamor for new data and are being fed by property developers and others with an interest in positive spin, along with those "independent" commentators who would like investors to put their savings into another place, and can only see the sky falling on our market. So here's our best effort at presenting some facts and observations from on the ground, dealing with tenants and ... Mon, 16 Oct 2017 14:00:00 +1000 Little Housing Stock Sells in a Given Year https://www.leesonvaluers.com.au/blog/little-housing-stock-sells-in-a-given-year https://www.leesonvaluers.com.au/blog/little-housing-stock-sells-in-a-given-year Source: CoreLogic   Over the 12 months to May 2017, only 4.8% of all houses nationally actually sold highlighting just how little stock sells in a given 12 month period. Across house sales over the past 12 months, Tasmania saw the highest proportion of stock turning over with 5.6% of all houses in the state selling.  Conversely, Western Australia saw the lowest proportion of turnover with just 4.0% of all houses selling over the past year.  % of total houses sold by state, 12 months to May 2017 NSW 5.1% VIC ... Mon, 09 Oct 2017 14:00:00 +1000 National housing conditions steady, led by a slowdown across the Sydney market https://www.leesonvaluers.com.au/blog/national-housing-conditions-steady--led-by-a-slowdown-across-the-sydney-market https://www.leesonvaluers.com.au/blog/national-housing-conditions-steady--led-by-a-slowdown-across-the-sydney-market Source:  CoreLogic CoreLogic August home value index results for the month confirm a slowdown in housing market conditions in Sydney, while Hobart emerged as the country's best performing capital city based on growth in dwelling values over the past twelve months. National dwelling values remained flat during August, with capital city values edging 0.1% higher. Simultaneously, regional dwelling values slipped 0.2% lower.  According to CoreLogic head of research Tim Lawless, this steady result provides further evidence that the housing market has moved through its pea... Mon, 09 Oct 2017 13:00:00 +1000 Trend in capital gains losing steam despite strong monthly rise in capital city dwelling valuers https://www.leesonvaluers.com.au/blog/trend-in-capital-gains-losing-steam-despite-strong-monthly-rise-in-capital-city-dwelling-valuers https://www.leesonvaluers.com.au/blog/trend-in-capital-gains-losing-steam-despite-strong-monthly-rise-in-capital-city-dwelling-valuers Source:  CoreLogic   The housing market is gradually responding to higher mortgage rates, tighter credit policies and affordability challenges, with the quarterly trend in capital gains moderating relative to early 2017. According to CoreLogic head of research Tim Lawless, the latest housing market results highlight the diversity of housing market conditions, with dwelling values down over the month in Brisbane (-0.6%), Perth (-1.3%) and Darwin (-1.2%). Index results as at July 31, 2017 Mr Lawless said, "The recent bounce in capital gains may be partially due... Mon, 07 Aug 2017 16:00:00 +1000 Settlement risk on off-the-plan units at concerning levels https://www.leesonvaluers.com.au/blog/settlement-risk-on-off-the-plan-units-at-concerning-levels https://www.leesonvaluers.com.au/blog/settlement-risk-on-off-the-plan-units-at-concerning-levels Source:  Kieran Clair According to a major analyst, half of Brisbane's off-the-plan (OTP) units could be classed a 'settlement risk.' Speaking at the Australian Property Institute's Brisbane conference today, CoreLogic head of research, Cameron Kusher, said his company tracked the proportion of OTP sales where their independent valuation was lower than their sale price. "In Brisbane, about 50 per cent of those valuations are coming in below the actual original contract price," Mr Kusher said. "In Perth and Melbourne, you're looking aro... Mon, 07 Aug 2017 16:00:00 +1000 Brisbane's Rental Market https://www.leesonvaluers.com.au/blog/brisbane-s-rental-market https://www.leesonvaluers.com.au/blog/brisbane-s-rental-market Source:  Bees Nees City Realty The latest stats are out on Brisbane's rental market. The Residential Tenancies Authority records the rent when a new bond is lodged and each quarter we sit down to analyse the results and get a handle on emerging trends. Here's the numbers for the June quarter released this week: Across Brisbane median weekly rent for a 2 bed apartment was down $20 to $400 On average, inner-city suburbs rose $5 to $485/week (after a $5 dip in the previous quarter). Inner-Brisbane's median rents have hovered around this price since 2012. ... Mon, 31 Jul 2017 17:00:00 +1000 Capital city dwelling values rise 0.8% over June quarter; slowest quarterly growth rate since dwelling values fell over December 2015 quarter https://www.leesonvaluers.com.au/blog/capital-city-dwelling-values-rise-0-8--over-june-quarter--slowest-quarterly-growth-rate-since-dwelling-values-fell-over-december-2015-quarter https://www.leesonvaluers.com.au/blog/capital-city-dwelling-values-rise-0-8--over-june-quarter--slowest-quarterly-growth-rate-since-dwelling-values-fell-over-december-2015-quarter Source - CoreLogic   According to CoreLogic head of research Tim Lawless, "This stronger month-on-month reading can be partially explained by the seasonality in the monthly growth rates.  Adjusting for this effect suggests an easing trend in housing value growth has persisted through the second quarter of 2017." The June quarter results showed that capital city dwelling values were 0.8% higher across the combined capitals index; the slowest quarterly rate of growth since December 2015 when the combined capitals index fell by 1.4%. Mr Lawless said, "T... Mon, 31 Jul 2017 16:00:00 +1000 Brisbane rental yields are sliding and oversupply is to blame https://www.leesonvaluers.com.au/blog/brisbane-rental-yields-are-sliding-and-oversupply-is-to-blame https://www.leesonvaluers.com.au/blog/brisbane-rental-yields-are-sliding-and-oversupply-is-to-blame A high concentration of inner-city apartments has caused a chain reaction in the Brisbane rental market, leading to rental yields for detached houses falling more than seven per cent in the past year. Stagnant rents and vacancy rates for the Greater Brisbane region hide a more serious problem investors are now making less returns because of a slow uptake in apartment supply and a correction to the market could be more than a year away. "There's no doubt with the increased supply we're seeing downward pressure on rents," Domain Group's chief economist Dr Andrew ... Mon, 31 Jul 2017 16:00:00 +1000 Three Unique Housing Insights from the 2016 Census https://www.leesonvaluers.com.au/blog/three-unique-housing-insights-from-the-2016-census https://www.leesonvaluers.com.au/blog/three-unique-housing-insights-from-the-2016-census Source:  Eliza Owen, CoreLogic The 2016 Census data reveals how people are dealing with unaffordable housing in the capital cities. While wage growth sits at a record low 1.9% against higher costs in basic needs like housing and health, and consumer confidence hits a 12 month low of 96.23, it is no wonder that people are paying more attention than ever to events such as the Census. A flush of new data gives a clearer perspective of the state of Australian households, and how households are changing in response to factors such as housing affordability and low income growt... Mon, 17 Jul 2017 15:00:00 +1000 Australian expats caught up in federal government's 'foreign investor' rule changes https://www.leesonvaluers.com.au/blog/australian-expats-caught-up-in-federal-government-s--foreign-investor--rule-changes https://www.leesonvaluers.com.au/blog/australian-expats-caught-up-in-federal-government-s--foreign-investor--rule-changes Source:  Domain In 2016, a withholding tax of 10 per cent on the sale of a home by foreign investors was introduced for properties selling at $2 million-plus. That has been reduced to $750,000 sale price as from 01/07/2017 and withholding rate increased to 12.5%. But some expats who do decide to sell their home once they've moved overseas will also be required to pay a chunk of their capital gains to the Tax Office when they sell and lose their main residence capital gains tax exemption. An Australian Taxation Office spokesperson confirmed Australian citizenship did n... Wed, 12 Jul 2017 15:00:00 +1000 New withholding tax rules for $750,000-plus properties https://www.leesonvaluers.com.au/blog/new-withholding-tax-rules-for--750-000-plus-properties https://www.leesonvaluers.com.au/blog/new-withholding-tax-rules-for--750-000-plus-properties Source:  REIQ From 1 July 2017, the withholding tax rules that were introduced last July for properties $2 million and above, will now apply to all property transactions where the market value of the property is $750,000 and above. Although the new laws are aimed at foreign residents, real estate agents must be aware that these new laws impact all property sales at $750,000 and above.  Summary The new laws require a purchaser to withhold 12.5% of the purchase price of real property valued at $750,000 and above and to pay that amount to the Australian Taxation Of... Wed, 12 Jul 2017 15:00:00 +1000 Downturn Refresher: What happens when prices start falling? https://www.leesonvaluers.com.au/blog/downturn-refresher--what-happens-when-prices-start-falling- https://www.leesonvaluers.com.au/blog/downturn-refresher--what-happens-when-prices-start-falling- When we think about the housing market we tend to focus on when values rise but in the recent past values have fallen in each capital city; this week we look at the magnitude and duration of these falls in the past. Throughout the past 20 years it has been much more common for combined capital city dwelling values to have been increasing than falling.  Although value rises have been more common, it doesn't mean that the housing market is bulletproof and in some instances values have fallen quite dramatically and rapidly.  Typically the Reserve Bank (RBA) or the Government ... Wed, 14 Jun 2017 16:00:00 +1000 Government turns GST on its head for new property sales https://www.leesonvaluers.com.au/blog/government-turns-gst-on-its-head-for-new-property-sales https://www.leesonvaluers.com.au/blog/government-turns-gst-on-its-head-for-new-property-sales Source:  API OPINION: THE Budget measures include a radical plan to shift the responsibility of accounting for GST from property developers to purchasers. Under the proposal, purchasers must remit the GST directly to the Australian Taxation Office (ATO) as part of the settlement process. The proposal will apply to newly constructed residential properties and new subdivisions from 1 July 2018. What does this mean for the developers? The full impact for developers will depend on the final form of the legislation. The critical question is whether the purchaser's liabil... Mon, 05 Jun 2017 12:00:00 +1000 REIQ Responds to Federal Budget Announcement https://www.leesonvaluers.com.au/blog/reiq-responds-to-federal-budget-announcement https://www.leesonvaluers.com.au/blog/reiq-responds-to-federal-budget-announcement Source: REIQ Broadly speaking, the Queensland housing market will not be significantly impacted from announcements in the Federal Budget. We are disappointed in those measures that limit investor activity because the Queensland housing market urgently needs investors. As a state that does not face a significant housing affordability issue, most of the measures were designed to tackle problems that are faced by Sydney and Melbourne markets. We have 93 suburbs in Greater Brisbane that are priced at or below $500,000. Sydney has just four suburbs and Melbourne has 11. The issues... Mon, 05 Jun 2017 12:00:00 +1000 Budget 2017 Depreciation Deductions https://www.leesonvaluers.com.au/blog/budget-2017-depreciation-deductions https://www.leesonvaluers.com.au/blog/budget-2017-depreciation-deductions Source:  API IN the Federal Budget on 9th May, depreciation allowances forming part of an investors income tax deductions for second hand residential investment properties were effectively killed off. This will apply to the purchase of any second hand properties where the contract to buy is entered into after 7.30pm on 9th May 2017. Contracts entered into prior to this date will be grandfathered and deductions will still be able to be claimed. What this means is not entirely clear yet. Will this mean, for example, that items previously considered to be plant and ... Mon, 05 Jun 2017 12:00:00 +1000 Multiple indicators point to softer housing market conditions https://www.leesonvaluers.com.au/blog/multiple-indicators-point-to-softer-housing-market-conditions https://www.leesonvaluers.com.au/blog/multiple-indicators-point-to-softer-housing-market-conditions Source:  CoreLogic.com.au The CoreLogic May Home Value Index results out today confirmed that the capital gains trend has slowed over recent months with dwelling values edging 0.4% higher over the three months ending May 2017. According to CoreLogic head of research Tim Lawless, Australia's capital cities saw a cooling of housing market conditions over the seasonally weak month of May with the CoreLogic hedonic home value index reporting a -1.1% fall in dwelling values across the combined capitals. The month-onmonth fall was largely the result of declines in Sydney an... Mon, 05 Jun 2017 12:00:00 +1000 Court of Appeal upholds a valuation of $4.1 million for a compulsory acquisition of land https://www.leesonvaluers.com.au/blog/court-of-appeal-upholds-a-valuation-of--4-1-million-for-a-compulsory-acquisition-of-land https://www.leesonvaluers.com.au/blog/court-of-appeal-upholds-a-valuation-of--4-1-million-for-a-compulsory-acquisition-of-land Source: Russell Buckley, nadia Czachor & Ian Wright, CBP   In brief The case of Moreton Bay Regional Council v Caseldan Pty Ltd [2017] QCA 72 involved an application for leave to appeal a decision of the Land Appeal Court to the Court of Appeal. The Council sought to challenge the decision of the Land Appeal Court regarding the value of land located adjacent to South Pine Road in Brendale which was compulsorily acquired by the Council. The Council compulsorily acquired the land for "recreation ground purposes". At the first instance the Land Court... Wed, 31 May 2017 12:00:00 +1000 The Australian housing market - what are the key issues? https://www.leesonvaluers.com.au/blog/the-australian-housing-market---what-are-the-key-issues- https://www.leesonvaluers.com.au/blog/the-australian-housing-market---what-are-the-key-issues- Source:  Dr Shane Oliver, AMP Capital - 15/03/2017 Key points The Sydney and Melbourne property markets have hotted up again and high house prices and household debt leave Australia vulnerable. But a property crash remains unlikely. Expect average home prices to fall 5-10% once an interest rate tightening cycle gets underway in 2018-19. Sydney and Melbourne unit prices are most at risk. More macro prudential measures to slow property demand are likely on the way. Alleviating poor affordability over the long term is best addressed by boosting supply. Introduc... Tue, 30 May 2017 16:00:00 +1000 Property valuations and price estimates https://www.leesonvaluers.com.au/blog/property-valuations-and-price-estimates https://www.leesonvaluers.com.au/blog/property-valuations-and-price-estimates Source:  Choice.com.au Figuring out what a property's worth is a tricky task, and when the market's hot, prices can change quickly. But an accurate assessment of the value is critical if you don't want to pay too much when you're buying, or miss the mark on your home's value when selling. Luckily, there are a bunch of resources out there to help some are free, while others will cost you. But how reliable are these sources, and how much do they differ in their estimates? We take a look at:     Variations in property valuations &n... Tue, 30 May 2017 16:00:00 +1000 What's it worth? https://www.leesonvaluers.com.au/blog/what-s-it-worth- https://www.leesonvaluers.com.au/blog/what-s-it-worth- Source:  Choice.com.au Figuring out what a property's worth is a tricky task, and when the market's hot, prices can change quickly. But an accurate assessment of the value is critical if you don't want to pay too much when you're buying, or miss the mark on your home's value when selling. Luckily, there are a bunch of resources out there to help some are free, while others will cost you. But how reliable are these sources, and how much do they differ in their estimates? We take a look at:     Variations in property valuations ... Wed, 17 May 2017 17:00:00 +1000 Federal Budget 2017: Foreign home buyers hit by vacancy tax and restrictions https://www.leesonvaluers.com.au/blog/federal-budget-2017--foreign-home-buyers-hit-by-vacancy-tax-and-restrictions https://www.leesonvaluers.com.au/blog/federal-budget-2017--foreign-home-buyers-hit-by-vacancy-tax-and-restrictions Foreign ownership of new developments will be restricted, there will be steeper charges applied to purchases, less favourable tax treatment and charges on those with empty properties, in a raft of measures in the federal budget aimed at taking the sting out of the housing market. One measure to be introduced from Tuesday is for foreign buyers to be slugged a fee for having a property that sits empty for six months or more in a year. Those who don't have a tenant in their property, or live in it themselves for a lengthy period of time, will be expected to pay an annual charge equ... Wed, 17 May 2017 17:00:00 +1000 Apartment supply push Brisbane vacancies higher https://www.leesonvaluers.com.au/blog/apartment-supply-push-brisbane-vacancies-higher https://www.leesonvaluers.com.au/blog/apartment-supply-push-brisbane-vacancies-higher Source: Australian Property Journal MEDIUM and high density apartments supply in inner city Brisbane are beginning to outstrip demand, with vacancies having reached 4.4% almost at a decade high. REIQ data show regional Queensland recorded strong vacancy improvement over the March quarter, however the strong level of apartment supply within 5kms of the Brisbane CBD over the past 18 months has pushed vacancy rates up from 3.6% in December quarter to 4.4% in March, which is significantly higher than the 2.5% recorded in March 2016. Vacancy rates within 5km of the CBD is at a decade... Wed, 17 May 2017 17:00:00 +1000 Brisbane's Rental Market - As At March Quarter 2017 https://www.leesonvaluers.com.au/blog/brisbane-s-rental-market---as-at-march-quarter-2017 https://www.leesonvaluers.com.au/blog/brisbane-s-rental-market---as-at-march-quarter-2017 The latest stats are out on Brisbane's rental market.  The Residential Tenancies Authority records the rent when a new bond is lodged and each quarter we analyse the results and get a handle on emerging trends.  Here's the numbers for the March quarter released last week:   Across Brisbane median weekly rent for a 2 bed apartment was flat at $420 On average, inner-city suburbs dropped $5 to $480/week (after a $5 rise in the previous quarter). Rents dipped in a number of inner-Brisbane suburbs; the biggest drop was $20/week in Newstead/Valley/Bow... Mon, 01 May 2017 16:00:00 +1000 Chinese buyers to prop up Australian housing market https://www.leesonvaluers.com.au/blog/chinese-buyers-to-prop-up-australian-housing-market https://www.leesonvaluers.com.au/blog/chinese-buyers-to-prop-up-australian-housing-market Source:  Myriam Robin   Foreign buyers are purchasing new housing in New South Wales and Victoria at a rate of $8 billion a year - a figure the equivalent of one in five new homes completed across the two states. The figures, available for the first time through a freedom of information request, come from state governments which now collect taxes from foreign buyers when the property is settled. The figures reveal the size, source and changes in foreign demand for Australian housing. According to a new paper by Credit Suisse analysts Hasan Tevfik and Peter Liu, ... Tue, 04 Apr 2017 12:00:00 +1000 People boom will cushion housing slump https://www.leesonvaluers.com.au/blog/people-boom-will-cushion-housing-slump https://www.leesonvaluers.com.au/blog/people-boom-will-cushion-housing-slump Liz Jordan, Australian Property Journal   POPULATION growth will soften a housing downturn in Australia, according to UBS. According to UBS, population growth lifted at 0.4% over the third quarter of 2016, at 1.5% or 349,000 people year-on-year, which is the equal fastest rate since the opening quarter of 2014. "For housing, while a sharp lift in dwelling completions and consequent jump in vacancy (and weaker rents) likely still lies ahead, this 'people boom' may contribute significantly to softening the housing downturn," economist George Tharenou ... Tue, 04 Apr 2017 11:00:00 +1000 Council backflip gives new hope for old houses https://www.leesonvaluers.com.au/blog/council-backflip-gives-new-hope-for-old-houses https://www.leesonvaluers.com.au/blog/council-backflip-gives-new-hope-for-old-houses Brian Bennion, South-East Advertiser PLANS to remove more than one-third of the character zoning from parts of Camp Hill and Coorparoo have been dropped under a revision to the draft Coorparoo and Districts Neighbourhood Plan. The council had planned to remove more than 1500 homes from the traditional building character overlay, but it was confronted by hundreds of residents opposing the plans at community meetings and information sessions. The council received 170 written submissions and 400 online survey responses to the draft strategy. City Planning chairman Julian Simmon... Thu, 23 Mar 2017 13:00:00 +1000 How the two-speed economy worm has turned https://www.leesonvaluers.com.au/blog/how-the-two-speed-economy-worm-has-turned https://www.leesonvaluers.com.au/blog/how-the-two-speed-economy-worm-has-turned Source: Ross Gittins, brisbanetimes.com.au If you learn nothing else about the economy, remember that it moves not in straight lines but in cycles of good times followed by bad times, and bad times followed by good. Nowhere is that truer than with our famed "two-speed economy". For most of the decade to 2012, the resources boom meant that the two main mining states Queensland and, especially, Western Australia were growing much faster than the rest of the economy, which was being held back by the effect of the boom-caused high dollar on other export industries. For... Thu, 23 Mar 2017 12:00:00 +1000 Reserve Bank worried about collapse in apartment prices https://www.leesonvaluers.com.au/blog/reserve-bank-worried-about-collapse-in-apartment-prices https://www.leesonvaluers.com.au/blog/reserve-bank-worried-about-collapse-in-apartment-prices Source: Peter Martin, brisbanetimes.com.au The Reserve Bank is considering tighter bank lending standards amid concern about how the financial system would handle a collapse in housing prices, beginning with Brisbane apartments. The Bank's assistant governor (financial system) Michele Bullock told a business event in Sydney that the Reserve Bank was particularly uneasy about the "looming oversupply of apartments in Brisbane in particular, and possibly in some parts of Melbourne". Sydney apartments were less of a worry. "There are indicators that, in the event... Thu, 23 Mar 2017 12:00:00 +1000 Investor loans are in the crosshairs https://www.leesonvaluers.com.au/blog/investor-loans-are-in-the-crosshairs https://www.leesonvaluers.com.au/blog/investor-loans-are-in-the-crosshairs Source:  Kieran Clair, realestate.com.au Westpac chief economist Bill Evans says regulators are set to get tougher on investor loans. Westpac chief economist, Bill Evans, said a nervous regulator will look to ease investor activity in the property market during 2017. Speaking in Brisbane today at an Australian Property Institute event, Mr Evans said high house prices fuelled by investor demand are causing concern for the Reserve Bank of Australia. "We find ourselves with a high increase in house prices and a worried central bank with considerable concern about over... Thu, 23 Mar 2017 12:00:00 +1000 With the growing acceptance of property on main roads, agents say it's a sign the market's on the way up https://www.leesonvaluers.com.au/blog/with-the-growing-acceptance-of-property-on-main-roads--agents-say-it-s-a-sign-the-market-s-on-the-way-up https://www.leesonvaluers.com.au/blog/with-the-growing-acceptance-of-property-on-main-roads--agents-say-it-s-a-sign-the-market-s-on-the-way-up Kieran Clair, realestate.com.au There's an old valuers saying that you get one chance every 10 years to profit from main road properties, and that time is now, according to the experts. Registered Harcourts Solution valuer and property consultant Ben Anderssen said high demand for blue-chip locations had buyers compromising on position when looking to invest. "Because there's so little supply around, you find that people are happy to look at stock on main roads because it's available and probably it's a bit cheaper than even looking one or two streets back,&... Thu, 23 Mar 2017 12:00:00 +1000 Why 2017 is the 'the year to watch' for the Brisbane apartment market https://www.leesonvaluers.com.au/blog/why-2017-is-the--the-year-to-watch--for-the-brisbane-apartment-market https://www.leesonvaluers.com.au/blog/why-2017-is-the--the-year-to-watch--for-the-brisbane-apartment-market Jim Malo, Domain.com.au Real estate professionals say 2017 will be a crucial year for Brisbane's apartment market and that it's too early to tell if it will be able to cope with the record number of rental stock expected to be released in the next 12 months. It comes a week after the Reserve Bank flagged potential tighter lending standards because of the "looming oversupply of apartments in Brisbane, in particular". Domain Group chief economist Andrew Wilson said recent data showed the market was in the early stages of returning to normal. Average rents for ... Thu, 23 Mar 2017 12:00:00 +1000 Strong start to 2017 as dwelling values rise across seven of Australia's eight capital cities in January https://www.leesonvaluers.com.au/blog/strong-start-to-2017-as-dwelling-values-rise-across-seven-of-australia-s-eight-capital-cities-in-january https://www.leesonvaluers.com.au/blog/strong-start-to-2017-as-dwelling-values-rise-across-seven-of-australia-s-eight-capital-cities-in-january Source:  CoreLogic Commenting on the January results, CoreLogic head of research Tim Lawless said, "The positive result was broad-based with every capital city (excluding Darwin) recording a rise in dwelling values over the month.  The largest month-on-month gains were recorded in Hobart (+1.4%), Sydney (+1.0%) and Melbourne (+0.8%)." Index results as at January 31, 2017 Region   Change in Dwelling Values Median Dwelling Price Qtr YOY Sydney 2.7% ... Mon, 06 Mar 2017 16:00:00 +1000 Forced sales may occur under proposed changes to Queensland body corporate laws https://www.leesonvaluers.com.au/blog/forced-sales-may-occur-under-proposed-changes-to-queensland-body-corporate-laws https://www.leesonvaluers.com.au/blog/forced-sales-may-occur-under-proposed-changes-to-queensland-body-corporate-laws Source: Domain Queensland unit owners could soon be forced to sell their homes against their will if 75 per cent of the neighbours in their block agree. And even if the "forced sale" vote threshold is not reached, individual owners and body corporates will be able to appeal to a District Court to push their plans through, under proposed changes to apartment laws. The forced sales proposals are the centrepiece of wide-ranging plans to update the Body Corporate and Community Management Act the state law governing apartment blocks and community developments. The repor... Mon, 27 Feb 2017 15:00:00 +1000 Monthly Housing & Economic Pack, January 2017 https://www.leesonvaluers.com.au/blog/monthly-housing---economic-pack--january-2017 https://www.leesonvaluers.com.au/blog/monthly-housing---economic-pack--january-2017 Source:  CoreLogic Home values increased  with values 2.7% higher over the three months to December 2016 and 10.9% through 2016 Home values were 2.7% higher over the final quarter of 2016 with Adelaide the only capital city to record a decline in values over the quarter Throughout the 2016 calendar year, dwelling values increased by 10.9% which was their greatest calendar year increase since 2009 Across the individual capital cities, the annual change in home values have been recorded at +15.5% in Sydney, +13.7% in Melbourne, +3.6% in Brisbane, +4.2% in ... Wed, 11 Jan 2017 12:00:00 +1000 Capital city dwelling values surge 10.9% higher over the 2016 calendar year https://www.leesonvaluers.com.au/blog/capital-city-dwelling-values-surge-10-9--higher-over-the-2016-calendar-year https://www.leesonvaluers.com.au/blog/capital-city-dwelling-values-surge-10-9--higher-over-the-2016-calendar-year Source:  CoreLogic Capital gains accelerated over the past year, taking the calendar year growth rate to the fastest pace since 2009, according to the December CoreLogic Home Value Index. December 2016 saw capital city dwelling values rise by 1.4%, taking the annual capital gain for 2016 to 10.9%; the highest  growth rate for a calendar year since 2009.  Factoring in gross rental yields and capital gains, housing as an asset class, earned a total annual return of 14.7% based on the combined capital cities index results. Across Australia's capital cities,... Wed, 11 Jan 2017 12:00:00 +1000 The lowdown on the mining town slowdown https://www.leesonvaluers.com.au/blog/the-lowdown-on-the-mining-town-slowdown https://www.leesonvaluers.com.au/blog/the-lowdown-on-the-mining-town-slowdown Source:  CoreLogic As commodity prices and mining investment has sunk, demand for housing in mining areas has also slowed. This week we take a look at the performance of some of the major mining towns. Mining towns and regions across the country have been hard hit as investment and commodity prices have slumped.  This week we're looking at how the housing market has performed in terms of the volume and median price of sales across these regions.  The results indicate that not all mining towns have recorded an equivalent slowdown.  The following analysis lo... Wed, 16 Nov 2016 14:00:00 +1000 Oversupply to put pressure on rents https://www.leesonvaluers.com.au/blog/oversupply-to-put-pressure-on-rents https://www.leesonvaluers.com.au/blog/oversupply-to-put-pressure-on-rents Source:  Australian Property Journal   OVERSUPPLY of new residential property led by Brisbane, Sydney and to a lesser extent, Melbourne, will push rental growth down in the year ahead. SQM Research's Housing Boom and Bust Report forecasts Brisbane and Sydney will be affected more than Melbourne, which will have its oversupply tempered by population growth. The report expects apartment completions in Brisbane will fall by 11% in 2017 to 8,000 apartments, before rising by 12.5% in 2018. As in Melbourne, the bulk of these completions will be in inner-city area... Wed, 16 Nov 2016 14:00:00 +1000 Brisbane Home Prices - 2016 https://www.leesonvaluers.com.au/blog/brisbane-home-prices---2016 https://www.leesonvaluers.com.au/blog/brisbane-home-prices---2016 Brisbane's home prices saw a 3.1% rise for the past 12 months, according to the latest Queensland Market Monitor report produced by the Real Estate Institute of Queensland. Here's all their latest numbers for settled and confirmed sales to the end of June: The past 12 months saw a median house sale price of $500,000 in Brisbane, retaining our spot as the third most affordable capital city behind just Hobart and Adelaide Brisbane's median apartment price dipped 1.2% over that year, with a median sale price of $405,000 House sellers spent an average 34 days ... Mon, 24 Oct 2016 14:00:00 +1000 Foreign Purchasers: Transfer Duty Increase https://www.leesonvaluers.com.au/blog/foreign-purchasers--transfer-duty-increase https://www.leesonvaluers.com.au/blog/foreign-purchasers--transfer-duty-increase After many months of lobbying for the Queensland Government to withdraw their newly introduced transfer duty surcharge on foreign investment, the property industry has lost their battle. "As announced in the State Budget 2016-17, additional duty of 3% will apply to acquisitions of residential land by foreign persons (including companies and trusts) from 1 October 2016."   Queensland Government What does this mean for foreign investors? For an investment property with a purchase price of $500,000, the duty will be calculated as $1,050 for the first $75,000, plus an ... Wed, 19 Oct 2016 14:00:00 +1000 Recent data shows surge in high-rise unit buildings https://www.leesonvaluers.com.au/blog/recent-data-shows-surge-in-high-rise-unit-buildings https://www.leesonvaluers.com.au/blog/recent-data-shows-surge-in-high-rise-unit-buildings Source:  API The housing market has seen a significant surge in the number of high-rise units approved for construction, new ABS data has shown. The Australian Bureau of Statistics (ABS) this week published building approvals data for July 2016 detailing a record-high number of high-rise approvals in recent years. Throughout the month, the market experienced the second highest monthly number of approvals on record, with 20,987 dwellings approved for construction nationally 11,513 of which were driven by unit approvals.   The July data also represented the secon... Wed, 19 Oct 2016 14:00:00 +1000 Investor housing demand continues its bounce-back https://www.leesonvaluers.com.au/blog/investor-housing-demand-continues-its-bounce-back https://www.leesonvaluers.com.au/blog/investor-housing-demand-continues-its-bounce-back Source: CoreLogic Housing finance data for July 2016 was released by the Australian Bureau of Statistics (ABS) earlier today.  The release showed that the total value of mortgage lending in July 2016 was recorded at $31.8 billion which was -1.8% lower compared to the $32.4 billion worth of mortgage lending in June 2016.  The value of mortgage lending is now -4.1% lower than its peak of $33.2 billion recorded in April 2015.  With home values continuing to rise it would tend to support the evidence that there are fewer transactions occurring on the back of fewer properti... Wed, 19 Oct 2016 14:00:00 +1000 Buyers Beware, Sellers Prepare https://www.leesonvaluers.com.au/blog/buyers-beware--sellers-prepare https://www.leesonvaluers.com.au/blog/buyers-beware--sellers-prepare ATO requires clearance certificate for sales over $2 million The Australian Taxation Office (ATO) has introduced a new rule which affects investors who plan to purchase or sell a property with a market value of $2 million or more. Announced in 2013 and legislated this year, the change was introduced to ensure foreign residents meet their capital gains tax (CGT) obligations. Effective from the 1st of July 2016, the new withholding rule requires Australian residents who are selling a property with a market value of $2 million or more to obtain a clearance certificate from the ATO. Th... Thu, 04 Aug 2016 11:00:00 +1000 Rental Review Snapshot - 7 July 2016 https://www.leesonvaluers.com.au/blog/rental-review-snapshot---7-july-2016 https://www.leesonvaluers.com.au/blog/rental-review-snapshot---7-july-2016 Source:  CoreLogic Weekly rents have fallen by -0.6% over the past year Combined capital city rental rates have fallen by -0.6% over the past year which representstheir greatest annual decline on record (based on data back to 1996).  At the same time a year ago,capital city rental rates had increased by 1.1%.  The factors forcing rental rates lower include: thesoftest wages growth on record, relatively high levels of housing investment following record highsrecently,  historically high levels of new construction (most of which are units which are more thantwice a... Thu, 14 Jul 2016 13:00:00 +1000 Dwelling completions boom as population growth slows https://www.leesonvaluers.com.au/blog/dwelling-completions-boom-as-population-growth-slows https://www.leesonvaluers.com.au/blog/dwelling-completions-boom-as-population-growth-slows Source:  CoreLogic Population growth nationally remains strong but continues to trend lower, meanwhile dwelling construction is booming creating a much closer relationship between housing supply and demand. Demographic data for December 2015 was released by the Australian Bureau of Statistics (ABS) last week.  The data showed that the national population was estimated at 23.9 million persons, with the population having increased by 326,073 persons over the 2015 calendar year.  The annual increase in population has fallen substantially from a peak of 459,504 perso... Wed, 13 Jul 2016 16:00:00 +1000 May Rental Index Results https://www.leesonvaluers.com.au/blog/may-rental-index-results https://www.leesonvaluers.com.au/blog/may-rental-index-results Source:  CoreLogic Actual rental change falls to a new record low in May 2016 Half of the capital cities have seen rents rise over the past twelve months, including Sydney (0.9%), Melbourne (2.3%), Hobart (3.7%) and Canberra (0.1%). Large rental falls in Perth (-8.8%) and Darwin (-16.9%) have pulled the combined capital average lower, with rents in Brisbane (-0.9%) and Adelaide (-0.9%) also lower over the year. It is anticipated that the rental market weakness will persist and that on an annual basis rents will continue to fall over the coming months. W... Wed, 15 Jun 2016 14:00:00 +1000 Best regional performers released in CoreLogic March 2016 quarter Regional Report https://www.leesonvaluers.com.au/blog/best-regional-performers-released-in-corelogic-march-2016-quarter-regional-report https://www.leesonvaluers.com.au/blog/best-regional-performers-released-in-corelogic-march-2016-quarter-regional-report Source:  CoreLogic Australia's regional areas are now under the spotlight as capital city property markets become too expensive. As capital city property markets become too expensive and force buyers to look for more affordable alternatives, Australia's regional areas are now under the spotlight with some of the more popular regions showing a lift in transaction levels and median values according to CoreLogic Regional Report for the March 2016 quarter. The Illawarra region in New South Wales leads the way as the best year-on-year performer with house values increasi... Tue, 31 May 2016 12:00:00 +1000 Weekly rents have continued to fall over the past year https://www.leesonvaluers.com.au/blog/weekly-rents-have-continued-to-fall-over-the-past-year https://www.leesonvaluers.com.au/blog/weekly-rents-have-continued-to-fall-over-the-past-year Source:  CoreLogic Based on the CoreLogic May monthly rental review released today, while rents increased slightly by 0.1% in April, overall, capital city rental rates edged lower, falling 0.2% over the past 12 months. Key Findings: Rental rates are currently $490/week for houses and $467/week for units across combined capital cities; Five of the eight capital cities saw a modest rise in rents over the past twelve months, including Sydney (1.4%), Melbourne (1.7%), Adelaide (0.5%), Hobart (1.1%) and Canberra (2.5%); Perth (-8.9%) and Darwin (-12.6%) experien... Tue, 31 May 2016 12:00:00 +1000 Brisbane real estate, first home buyers & the "A" word! https://www.leesonvaluers.com.au/blog/brisbane-real-estate--first-home-buyers---the--a--word- https://www.leesonvaluers.com.au/blog/brisbane-real-estate--first-home-buyers---the--a--word- Source:  Bees Nees City Realty Affordability - it's the hot topic of the day. Helping first home buyers enter the market is an emotive issue in politics right now and last night's budget saw the government confirm it will stick with current negative gearing rules (provided they win the upcoming election of course). This real estate agent was at a meeting last year where the Shadow Treasurer spoke about housing affordability and he became agitated and passionate when he spoke of spiking home prices in his western Sydney electorate. It's hard to dislike a politicia... Mon, 09 May 2016 13:00:00 +1000 Net Rental Losses on Residential Property Slump in 2013-14 https://www.leesonvaluers.com.au/blog/net-rental-losses-on-residential-property-slump-in-2013-14 https://www.leesonvaluers.com.au/blog/net-rental-losses-on-residential-property-slump-in-2013-14 Source:  CoreLogic RP Data At the moment, the issue of negative gearing is extremely topical due to the Federal opposition proposal to change the availability of negative gearing to new properties only.  In data released last week, the Australian Tax Office (ATO) published their annual taxation statistics for the 2013-14 financial year.  The latest data shows that over the year there was a substantial decline in net rental losses claimed.  In fact, net rental losses haven't been this low in close to ten years.  In 1999 the capital gains tax indexation was... Wed, 30 Mar 2016 10:00:00 +1000 Brisbane's Apartment Pipeline - 2016 to 2018 https://www.leesonvaluers.com.au/blog/brisbane-s-apartment-pipeline---2016-to-2018 https://www.leesonvaluers.com.au/blog/brisbane-s-apartment-pipeline---2016-to-2018 Source - Place Projects Brisbane is under construction.  Anyone driving through the Valley, Newstead or South Brisbane can see that.  The streets are lined with hoarding plastered with impossibly beautiful vistas of the CBD from across a computer-rendered infinity pool.  Buyers want to know what Brisbane is going to look like in three years' time.  How will the landscape of this city change as a result of the recent surge in apartment construction?  We will discuss the future apartment market in Brisbane.  How many and what types of apartments will be b... Tue, 08 Mar 2016 11:00:00 +1000 CoreLogic RP Data February Rental Index Results https://www.leesonvaluers.com.au/blog/corelogic-rp-data-february-rental-index-results https://www.leesonvaluers.com.au/blog/corelogic-rp-data-february-rental-index-results Source CoreLogic RP Data Weekly rents increased in February 2016 but are unchanged over the year CoreLogic RP Data analysis shows rents across the combined capitals rose by 0.3% in February 2016. Rental rates increased over the month in all capital cities except for Perth and Darwin. Dwelling rental rates across the combined capital cities are recorded at $485 per week and they are unchanged over the past year. CoreLogic RP Data have been tracking annual rental changes since 1996 and over that time rental growth conditions have never been weaker. At the same time last year re... Tue, 08 Mar 2016 11:00:00 +1000 New residential property listings are ramping-up quickly in 2016 https://www.leesonvaluers.com.au/blog/new-residential-property-listings-are-ramping-up-quickly-in-2016 https://www.leesonvaluers.com.au/blog/new-residential-property-listings-are-ramping-up-quickly-in-2016 Source: CoreLogic RP Data Across the country there were 47,483 unique new property listing over the 28 days ended 7 February 2016.  The number of new property listings is 11.0% higher than at the same time last year.  If we look back over recent years it is the highest number of new property listings at this time of year since 2010.  If we look at the combined capital cities we have also seen a large ramp-up in new listings with 27,430 new listings which is 5.4% higher than at the same time last year.  Again it is the highest number of new property listings over t... Tue, 08 Mar 2016 10:00:00 +1000 Monthly Housing & Economic Overview - January 2016 https://www.leesonvaluers.com.au/blog/monthly-housing---economic-overview---january-2016 https://www.leesonvaluers.com.au/blog/monthly-housing---economic-overview---january-2016 Source:  CoreLogic   Home values Combined capital city home values increased by 0.9% in January with values rising in Sydney, Melbourne, Hobart and Canberra, they were unchanged in Adelaide and fell elsewhere Home values were -0.6% lower over the three months to January 2016 with Brisbane, Perth, Hobart and Canberra recording increases Over the past 12 months, combined capital city home values have increased by 7.4% however, only Sydney (10.5%) and Melbourne (11.0%) have recorded significant growth with moderate increases in Brisbane (2.8%), Adelaide... Thu, 11 Feb 2016 14:00:00 +1000 Quarterly Regional Market Rental Review https://www.leesonvaluers.com.au/blog/quarterly-regional-market-rental-review https://www.leesonvaluers.com.au/blog/quarterly-regional-market-rental-review Source:  CoreLogic RP Data   Summary Quarterly movements To end the 2015 calendar year, most regional markets, for houses, saw rents either rise or remain steady with the exception of Western Australia where rents were down -2.6% over the final three months of the year.  On the other hand, regional unit market performance was much weaker, with rental rates in Queensland, Tasmania and Western Australia all lower in December 2015 relative to September 2015. Annual movements Following on from the release of CoreLogic RP Data's latest capital city rental ... Tue, 09 Feb 2016 11:00:00 +1000 CoreLogic RP Data January 2016 Monthly Rental Review https://www.leesonvaluers.com.au/blog/corelogic-rp-data-january-2016-monthly-rental-review https://www.leesonvaluers.com.au/blog/corelogic-rp-data-january-2016-monthly-rental-review CoreLogic RP Data January 2016 Monthly Rental Review by Mitch Koper 08 February 2016 Softest conditions on record for capital city rental markets no growth recorded over past 12 months. Dwelling rental growth is now at its lowest level on record according to the January 2016 CoreLogic RP Data Rental Review released today. Currently the median rent rate is recorded at $443 across the combined capital cities.   Research analyst Cameron Kusher said, "CoreLogic has tracked annual rental changes since 1996 and over that time, rental growth conditions have never been... Tue, 09 Feb 2016 10:00:00 +1000 Remarkable year for booming Brisbane's new apartments - Is it sustainable? https://www.leesonvaluers.com.au/blog/remarkable-year-for-booming-brisbane-s-new-apartments---is-it-sustainable- https://www.leesonvaluers.com.au/blog/remarkable-year-for-booming-brisbane-s-new-apartments---is-it-sustainable- Source:  Domain Brisbane has completed an unprecedented year of new apartment development with high levels of activity set to continue through 2016.  Latest ABS data reports that in Brisbane 1388 apartments were approved for building in December 2015.  An astonishing 19,992 apartments were approved for building in 2015.  This total was 7928 more than the 12,064 recorded the previous year a steep increase of 65.7 per cent.  This result was clearly the best growth rate for apartment development of any of the capital cities although Sydney recorded a signif... Mon, 08 Feb 2016 12:00:00 +1000