Kent Andrew Lardner’s Post

With only four weeks until December, Auckland’s residential property market continues to heat up, demonstrating stability and balance across city-fringe and central suburbs. Increased listings are presenting buyers with more choices, though total volumes remain below historic averages. Sellers, meanwhile, are seeing steady interest, especially in high-value segments where demand for properties in the $2 to $5 million range remains strong.   A growing trend of buyers missing out on preferred properties suggests that supply and demand are moving towards a healthy equilibrium, particularly in sought-after areas. With new policies - such as the shortened bright-line test - and recent OCR adjustments coming into effect, Auckland’s market is poised for a vibrant summer season, offering promising conditions for both buyers and sellers.    UP Real Estate is ready to support clients in capturing the market’s full potential and anticipates a continued strengthening of Auckland’s residential sector throughout the summer.

With only four weeks until December, Auckland’s residential property market continues to heat up, demonstrating stability and balance across city-fringe and central suburbs. Increased listings are presenting buyers with more choices, though total volumes remain below historic averages. Sellers, meanwhile, are seeing steady interest, especially in high-value segments where demand for properties in the $2 to $5 million range remains strong.   A growing trend of buyers missing out on preferred properties suggests that supply and demand are moving towards a healthy equilibrium, particularly in sought-after areas. With new policies - such as the shortened bright-line test - and recent OCR adjustments coming into effect, Auckland’s market is poised for a vibrant summer season, offering promising conditions for both buyers and sellers.    UP Real Estate is ready to support clients in capturing the market’s full potential and anticipates a continued strengthening of Auckland’s residential sector throughout the summer.  

After 21 months of gains, the Sydney housing market has finally recorded a drop in values. CoreLogic's Monthly Index showed home values, both units and apartments, declined in October, the first time since January 2023. CoreLogic Research Director Tim Lawless notes, however, that the stronger performance across the more affordable end of the market is a consistent theme across the capital cities. Read more about what happened in the Sydney off the plan apartment market in October. TWT Property Group | Belle Property | Thirdi Group | Phoenix Property Investors | Scion Group | Meriton Group Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 17,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.

// 📈 City Housing Markets Surge: Valuers Predict Significant Price Increases for Apartments and Houses 🔥 The latest CBRE survey indicates a strong outlook for apartment and house prices in major city markets over the next 12 months. Valuers are particularly optimistic about Perth, with more than half predicting apartment values to rise by at least 5%, and nearly one-fifth expecting similar growth for Sydney apartments. Brisbane and Adelaide are also expected to see significant gains, with 37% and 28% of valuers, respectively, forecasting a 5% increase in apartment values. This marks a substantial improvement from the previous quarter's predictions. As reported in the AFR, house prices are also expected to climb, especially in Perth, Adelaide, and Sydney. Nearly one out of five valuers predict Perth's house prices will increase by more than 10%, while a higher percentage anticipate at least a 5% rise in Adelaide, Sydney, and Brisbane. The robust demand, coupled with low stock levels and strong population growth, supports these positive forecasts. As new apartment supply remains limited and construction costs have surged, existing properties are becoming more valuable, further driving up prices in these city markets.

Demand for attached dwellings is booming across Australia, with many of the nation’s capital cities and key regional centres seeing a surge in unit sales. Two recent reports from Hotspotting—“The New Paradigm in Real Estate: The Rise and Rise of Apartments,” produced in collaboration with Nuestar, and the Spring edition of “The Price Predictor Index”—highlight the growing market share of units. In Greater Sydney, for instance, units now make up 54% of residential sales, up from 48% just three years ago. Perth is also experiencing a shift, as rising house prices push more buyers towards well-located units. Demand is also growing in Melbourne, Brisbane, Canberra, and regional hotspots like the Sunshine Coast and Gold Coast. This trend is driven by lifestyle preferences and the relative affordability of units compared to houses in the same area. As “The New Paradigm” report shows, the old belief that houses outperform units in capital growth is no longer valid. Today, units are holding their own in price growth, while offering lower entry prices and better rental yields.

Finally a bit of good news for property developers in the residential market. At least we can see that people are increasing their viewing of apartments. This is why I say that market research is so important for a property developer to do. Seeing things that are "indicators" of market trends, both up and down, are essential. #propertydevelopment #affordability

Apartment prices in outer Melbourne rose 0.6% over the September quarter to $603,000, according to the Real Estate Institute of Victoria (REIV). This third consecutive quarterly increase takes the median price just $500 shy of the inner-city equivalent. Over the past five years, outer Melbourne apartment prices have increased 18.8%, which is slightly higher than the 18.5% growth of house prices over the same period. The median house price is currently $770,000. REIV chief executive Kelly Ryan says there are many positive signs in outer Melbourne, with reported sales of units and apartments more than doubling (102.4%) from 3,122 to 6,387 over the five years to September. Similarly, house transactions increased by 98.6% to 28,672. “The growth in median apartment and unit prices for outer Melbourne coupled with extremely strong sales volumes highlights the opportunities that exist in the area for homeowners and investors.” She says access to schools, transport, amenities and other lifestyle convenience factors are helping to ensure a positive long-term outlook for this market.

// 🔥 Brisbane’s Housing Market Sizzles: What’s Driving the Unstoppable Growth? Brisbane’s property market continues to show resilience, with the city ranking among the top performers in price growth throughout July. API is reporting that demand remains strong for well-located units and townhouses, as well as homes priced around the median value. Brisbane's property market is now experiencing dramatic growth due to a combination of strong demand, limited supply, and robust population growth. The city's stable economy, coupled with ongoing investor interest and relatively low interest rates, is further fueling this upward trend. Despite new developments, supply constraints persist, driving competition among buyers and pushing prices higher. Additionally, urban development and infrastructure projects are enhancing Brisbane's appeal, making it a prime target for both homebuyers and investors, leading to continued price increases. #propertydevelopment #property #realestate #architecture #architecturaldesign #construction #landscapearchitecture #townplanning #urbanplanning #urbanrenewal #futurecities #propertysales #design #building #development #homes #australia #australianhousing #australiandevelopment #lifestyle #cityshaping #placemaking #investment #propertyinvestment #designexcellence https://lnkd.in/gkBPjf5T?

According to Oxford Economics Australia’s latest Residential Property Prospects report, the median unit price across the combined capitals is expected to increase 5.1% by the end of 2024, outpacing house prices which are forecast to grow by 4.7%. Over the next three years, capital city units will rise 21.3%, while houses will lift 19.5%, and the gap between apartment and house price growth over that period is expected to be largest in Sydney (22% vs 17.9%) and Brisbane (23% vs 19%).

The Melbourne property market has continued to soften in 2024, with conditions proving challenging for sellers across the city. All dwelling types in Melbourne have experienced negative price growth, signaling a broader downturn that is also impacting Sydney. Despite the ongoing weakness in Melbourne’s property market, factors such as high population growth and a significant supply shortage are prompting many analysts and property experts to question whether the city now presents attractive opportunities for buyers. The median value for units in Melbourne is now $610,000, according to CoreLogic, placing it behind Brisbane, where the median value has risen to $677,000. Read more about what happened in Melbourne’s off the plan apartment market in November. BEULAH | Sunkin Property Group | Samuel Property | DM Property | ICON Developments Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 17,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird 🐦⬛ to keep your finger on the pulse of the apartment and townhouse market.