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Record Low Rental Vacancies as Capitals Slip Under 1pc

rental

For the first time on record five of eight Australian capital cities have rental vacancy ratesrates under 1 per cent as the national average drops to 1.5 per cent.

SQM Research data has shown many regional areas and holiday destinations were edging closer to putting the “no vacancy” signs out in the run up to Christmas.

Perth, Adelaide, Canberra, Darwin and Hobart all had vacancy rates below 1 per cent, while the bigger metropolitan areas of Sydney, Melbourne and Brisbane remained above the 1 per cent mark.

SQM Research managing director Louis Christopher said the main area of the Gold Coast had recorded another fall in vacancy rates to 0.7 per cent, and this was likely to fall further during the December-January holiday period.

“As we come to the end of 2021, the no vacancy sign is lit up across most of Australia,” Christopher said.

“There has not been a time when five of our eight capital cities simultaneously recorded rental vacancy rates under 1 per cent.

“This has translated into surging rental rises, particularly for houses where the capital city rise for the year is now recorded up by 11.7 per cent.”

Capital city vacancy rates and rent changes over 12 months

CityNov 20 Vacancy RateNov 21 Vacancy RateRent (house)12-month change
Sydney3.5%2.6%$734.40▲15%
Melbourne4.4%3.2%$527.80▲3%
Brisbane1.8%1.3%$544.400▲15.9%
Perth0.9%0.6%$553.60▲14.1%
Adelaide0.8%0.5%$465▲10.2%
Canberra0.9%0.8%$734.50▲12%
Darwin0.7%0.9%$639.90▲9.3%
Hobart0.6%0.3%$494.90▲7.3%

^Source: SQM Research – November 2021

Christopher said demand for bigger properties had increased during the pandemic, and while there had not been a reversal in this trend yet, he forecast a shift back to apartments next year.

“I believe 2022 will see a move towards units, simply by virtue of their relative affordability plus the new inflow of immigrants will look for unit accommodation first and foremost as they have done in the past,” he said.

The total vacancies Australia-wide now stands at 55,370 residential properties, down from 56,953 in November.

Melbourne and Brisbane’s vacancy rate dropped to 3.2 per cent and 1.3 per cent in November from 3.3 per cent and 1.4 per cent in October.

The Sydney and Melbourne CBDs recorded a fall in vacancy rates but remain high at 6.9 per cent and 7.2 per cent respectively.

National asking rents rose 0.4 per cent for houses to $551 per week and units rose by 1 per cent to $416 a week.

It now costs an average of $603 a week to rent a house in a capital city, an increase of 2.4 per cent over the past 30 days, while apartment rents went up 0.7 per cent to an average of $427 per week.

 

Article Source: www.theurbandeveloper.com

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Real Estate

Australia’s most Instagram-worthy home just got cheaper

Australia’s most Instagram-worthy home, Casa Campana

One of the most beautiful homes in Australia is now $500,000 cheaper.

Casa Campana, in Nunderi, between the Gold Coast and Byron Bay in New South Wales, has an asking price of $3.5 million.

Agents have revised the figure on the listing from $4 million, which was quoted when it came onto the market, according to Domain.

The Mediterranean-style rainforest retreat, owned by creative agency founder Sophie Bell and her husband Michael, has been one of Australia’s most highly-sought homes for photoshoots.

Australian and international businesses and magazines have staged shoots at the eye-popping estate, which is on the books of LS Properties’ Brent Savage and Ethan Price.

Casa Campana has more than 18,000 followers on its own Instagram account.

The home has a bohemian flourish and crisp undertones, and was a collaboration between Sophie Bell’s Peppa Hart studio and Three Birds Renovations.

Highlights include steps from the house to a perfectly-paved pool pavilion, and the main bedroom’s luxe open-plan bathroom, which faces a sweeping terrace, surrounded by Tweed Coast hinterland.

Cabarita Beach is an easy drive away, if there was ever any desire to leave the pool…

Tour Casa Campana…

Casa Campana, Australia’s most Instagram-worthy home

The kitchen and dining area connects to greenery. Photo: Domain

 

Casa Campana, Australia’s most Instagram-worthy home got cheaper

A glamour living area with the Tweed Coast hinterland beyond. Photo: Domain

Australia’s most Instagram-worthy home, Casa Campana bedroom

The bedroom and en suite are configured as one breezy, open-place retreat. Photo: Domain

 

Australia’s most Instagram-worthy home, dining Casa Campana

The dining room with pool pavilion and rainforest views. Photo: Domain

 

 

Article source: www.domain.com.au

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Residential

‘Urban jungle’: inside the jaw-dropping Coast home named best in Australia

Urban jungle Coast home

A multimillion-dollar Noosa Heads home draped in lush plants and with a sparkling pool submerged in the middle has been named Australia’s best.

The architecturally designed concrete and timber property brings the “jungle” to riverside living, with masses of greenery tumbling over the building’s angular lines.

Among the most unique features of the five-bedroom, four-bathroom home (which also has two powder rooms) are the window-framed pool in the courtyard and luxurious glass-encased wine cellar.

The property on Witta Circle, in the Noosa River, was named Australian Home of the Year at the 2022 HIA-CSR National Housing Awards. It also won the national Custom Built Home title.

It’s beauty has been captured by architectural photographer Christopher Frederick Jones of cfjphoto.com.au.

Urban jungle,inside the jaw-dropping Coast home

Overlooking the pool which is framed by leafy gardens.

The skilful design and construction, which connects the natural and built environments, undoubtedly caught the judging panel’s attention.

Built by Sunshine Coast-based company JW Constructions, the holiday home was designed by Brisbane firm Lockyer Architects. The landscaping was completed by the Conlon Group.

The home boasts an understated street frontage, but upon walking inside visitors are swept away to an exotic location.

JW Constructions managing director Jason Warren said the “urban jungle” vibes of the mansion met the client’s brief.

Located overseas during the height of the COVID-19 pandemic, the home owner was unable to oversee construction.

Scroll down for more amazing images

“For them to put faith and their vision in our hands is rewarding,” Mr Warren told Sunshine Coast News.

“It was about conveying the architect brief and the client’s brief and bringing that to fruition. The landscaping played a big role in bringing the whole project together.

“It’s hard work when you’re doing it as you are focused on the process and getting everything right.

“It’s fantastic when you finally hand over to the client… and you sit back and look.

“I feel privileged to be able to work on such an amazing design and be a part of bringing a person’s dream to life, people who have worked their whole lives to build their dream home.”

The home centres on biophilic design principles bridging the gap between the indoor and outdoor environments.

The combination of board-formed concrete paired with warm wood-grained accents creates an inviting interior.

Outside, the natural greenery that drapes from the upper-level gardens softens the angular lines of the home.

At its heart, the central courtyard and swimming pool evoke a sense of tranquility.

This theme continues inside. The main bedroom has a lush private garden and privacy screens cantilevered over the courtyard.

Technology has not been overlooked. The home has been fitted with a cutting-edge  automation system and a self-sustained battery generator.

Urban jungle-inside the jaw-dropping home

Witta Circle, located on the Noosa River, has its own sandy river bank.

 

Article source: www.sunshinecoastnews.com.au

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Real Estate

The Block’s 2018 fan favourites selling St Kilda penthouse

The Gatwick penthouse built by The Block

The Block penthouse in St Kilda’s iconic Gatwick building that was transformed by fan favourites Norm and Jess has hit the market for the first time since completion in 2018.

The stunning abode at 301/34 Fitzroy Street sold for $2.895 million during the notoriously stressful Block auctions. Three-and-a-half years later, it’s now listed with expectations of $3.4 million to $3.7 million.

Renovated by the Sunshine Coast couple, the three-bedroom penthouse turned heads for its luxurious kitchen, soaring ceilings and floating fireplace.

Of course, being a penthouse on a prime corner position, the pad captures panoramic views of CBD skyscrapers, even from the barbecue zone.

The pair received a 30/30 score from the judges for their spacious outdoor terrace, with the rooftop sanctuary also featuring a louvred roof, decking, paved seating area and serene water feature.

Norm and Jess included high-end details throughout the residence, including a concrete bathtub, a marble hearth under that suspended fireplace, herringbone oak floors, Alexa voice-controlled technology (which can even be used to turn on the shower) and a state-of-the-art security system.

concrete bath of The Block penthouse

The concrete bath is still in the apartment, which has come up for sale.CREDIT:BELLE PROPERTY BRIGHTON

 

 main bedroom of The Block penthouse in St Kilda

The main bedroom in the Gatwick penthouse apartment built by Norm and Jess.CREDIT:BELLE PROPERTY BRIGHTON

 

The Block penthouse - outdoor

Their outdoor area received top marks from the judges.CREDIT:BELLE PROPERTY BRIGHTON

The main bedroom suite has its own balcony plus an en suite with double shower and a walk-in wardrobe. The three-oven Neff and Bosch kitchen with soft olive-toned cabinetry hides a butler’s pantry.

The penthouse was previously listed for rent during the pandemic, with a discounted price of $2200 per week, down from $2700.

Despite the penthouse being beloved by fans of the juggernaut renovating show, the Queensland couple came last on auction day, with the smallest profit margin.

They made $209,000, partly due to a high reserve price. Expressions of interest for the penthouse close May 16 at 5pm.

 

Article source: www.brisbanetimes.com.au

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