<p>Sekisui House Australia's first apartment development in Sydney's Lower North Shore has been a hit with prospective new home buyers.</p>

<p>They recently released <a href="https://www.apartments.com.au/new-apartments/waterstone-st-leonards-24-berry-road-st-leonards-nsw-2065">Waterstone</a>, on the fringe of Newlands Park in the emerging St Leonards South precinct, a short walk from the Crows Nest Metro and the heart of St Leonards.</p>

<p>The new development will home&nbsp;207 apartments across five mid-rise buildings, rising between four to nine storeys.</p>

<p>We recently visited the display suite at&nbsp;60 Pacific Highway, St Leonards, to find out more about the development that has been one of the most enquired on developments on Apartments.com.au in the last few months.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/rO1K7t6GOgY?si=pwmYyqjNBBzjMNeb" title="YouTube video player" width="560"></iframe></p>

<p>Watersone sales agent Paul Marrum says the orientation of the building was key to Sekisui's wider design philosophy.</p>

<p>“Waterstone has been orientated to face south, capturing views over Newland’s Park and back to the Sydney CBD," Marrum says.</p>

<p>"This deliberate positioning, alongside 30 per cent of the site dedicated to open space designed by <a href="https://www.apartments.com.au/landscape-architect/aspect-studios">Aspect Studios</a>, roots the project in the developer’s Satoyama philosophy - prioritising balance between the built environment and its surrounding ecosystem."</p>

<p>On offer are a mix of one-, two-, three-, and four-bedroom apartments, with many including&nbsp;multi-purpose rooms to accommodate shifting lifestyle needs, from work-from-home professionals to growing families and downsizers.&nbsp;</p>

<p>[smartcode_project:default project_id=134191 project_image_fid=234]</p>

<p>“Every apartment is open plan, with interiors flowing to balconies or courtyards," Marrum adds.</p>

<p>"The material palette reinforces this flow: soft-toned tactile stone, fluted glass cabinetry, and warm timber joinery work together to create what he describes as a “refined but relaxed atmosphere.”</p>

<p>There’s a distinct human scale to Waterstone’s design. The community is shaped as a network of boutique buildings threaded by a ‘green spine’, a landscape feature that invites movement, reflection, and connection.</p>

<p>Marrum highlights the presence of sensory gardens and native planting throughout, signalling an approach that enhances both wellness and biodiversity.&nbsp;Yet Waterstone doesn’t forgo amenity for serenity however. Residents will have access to a heated outdoor pool and spa, infrared sauna, co-working lounge, fully equipped gym, and even dedicated resident workspaces.&nbsp;</p>

<p>[smartcode_project:default project_id=134191 project_image_fid=231]</p>

<p>Waterstone will rise from a prime Berry Road site ideally located near the green Newlands Park but also a short walk to the hear of both St Leonards and Crows Nest, two transport nodes with bus, train, and Sydney Metro lines connecting to the rest of Sydney.</p>

<p>Construction is slated to begin in mid-2025, with completion targeted for late 2027.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=134191]</p>


Joel Robinson

Inside Waterstone St Leonards: Apartments.com.au Video Spotlight

<p>Off the plan buyers at Altona's newest apartment development Voyage, are soon to take their keys, with&nbsp;<a href="https://www.apartments.com.au/developers/spacious-property-development-group-pty-ltd">Spacious Property Development Group</a>&nbsp;approaching completion of the contemporary, coastal building.</p>

<p>Farey &amp; Co can now take prospective buyers through a fully-furnished display apartment on appointment as construction approaches its final stages.</p>

<p>[smartcode_project:default project_id=112195 project_image_fid=3286]</p>

<p>Situated just 13 kilometres from Melbourne’s CBD, Voyage Altona beachside apartment development offers a rare opportunity to live moments from the sand, pier, and thriving village life of Pier Street.</p>

<p><a href="https://www.apartments.com.au/new-apartments/voyage-altona-102-106-pier-street-altona-vic-3018">Voyage</a> is the only new apartment offering currently on the market in <a>Altona</a>. Comprising one, two, and three-bedroom residences, it has been thoughtfully designed to appeal to a broad spectrum of buyers, from first home purchasers to downsizers and lifestyle-focused owner-occupiers.&nbsp;</p>

<p>Prices start from just over $500,000 for one-bedroom apartments, with three-bedroom configurations topping out just over the $1 million mark.</p>

<p>[smartcode_project:default project_id=112195 project_image_fid=2145]</p>

<p>Voyage's architecture, by <a href="https://www.apartments.com.au/architects/cheah-saw-architecture">Cheah Saw Architecture</a>, is defined by an asymmetrical façade and a refined palette that echoes the surrounding coastal tones.&nbsp;</p>

<p>Inside, a minimalist design language prevails, with full-height glazing inviting expansive views over Port Phillip Bay and hybrid timber flooring grounding the open-plan layouts.&nbsp;</p>

<p>Kitchens are appointed with premium Miele appliances and stone finishes, while the bathrooms feature porcelain tiles and walk-in glass showers.</p>

<p>[smartcode_project:default project_id=112195 project_image_fid=3287]</p>

<p>Voyage's location on Pier Street places residents at the heart of the suburb’s major activity centre. <a href="https://www.apartments.com.au/developments/altona-vic-3018">Altona</a> Station, Altona Beach, and a diverse mix of cafes and shops are all within walking distance.&nbsp;</p>

<p>With the final release now selling, Spacious is offering buyers the chance to secure their future home with just a five per cent deposit, a move that lowers the barrier to entry and positions Voyage as one of the most accessible premium new builds on Melbourne’s bayside fringe.</p>

<p>Spacious Property Development Group collaborated with <a href="https://www.apartments.com.au/builders/valeo-construction">Valeo Construction</a> to bring this vision to life. The development has advanced significantly, with interior fit-outs and communal landscaping well underway.&nbsp;</p>

<p>Completion is targeted for Q3 2025, with some buyers expected to move in by September.</p>

<p>[smartcode_project_cta:default project_id=112195]</p>


Completion is targeted for Q3 2025, with some buyers expected to move in by September

Buyers to move into Voyage Altona this Spring

<p><a href="https://www.apartments.com.au/developers/beulah">Beulah</a>&nbsp;has unveiled its latest release of exclusive homes in its sustainable Brunswick townhouse development, Brunswick Established.</p>

<p>The collection, known as ‘The Courtyard House’, has been created in collaboration with Six Degrees Architects to meet the evolving needs of modern families.&nbsp;</p>

<p>With a central courtyard at its heart, the design reimagines the possibilities of multi-generational living, blending flexibility, sustainability and personalisation within a heritage setting. Distinct from a traditional garden, the courtyard delivers natural light, fresh air and a generous sense of space, without the upkeep of a backyard.</p>

<p>Comprised of 23 two-storey townhouses, <a href="https://www.apartments.com.au/new-townhouses/brunswick-established-23-hodgson-st-brunswick-vic-3056">Brunswick Established</a> offers multiple typologies of townhomes to suit different living requirements, allowing residents to grow in place - majority include ground-floor bedrooms for accessibility, while others, known as the ‘The Courtyard House’, provide a unique, flexible detached space separated by a courtyard.</p>

<p>Responsible for both the architecture and interior design, <a href="https://www.apartments.com.au/architects/six-degrees-architects">Six Degrees</a>’ holistic approach enabled the team to ensure an intrinsic link between the design outcomes; a seamless, harmonious flow from the outside to within.</p>

<p>[smartcode_project:default project_id=136451 project_image_fid=275571]</p>

<p>“The modern home should flow from inside to outside - the courtyard provides a space which joins the different parts of the home together as the central outside space of the home,” explains Six Degrees Director, Peter Malatt.</p>

<p>“The courtyard is a model used since ancient times, transforming the home from an object within a space to an object enclosing space. It acts as both the visual and social heart of the home, a space to gather, reflect, or simply pause, offering a moment of calm within a busy urban context."</p>

<p>“Courtyards also offer a deeply cultural and emotional resonance, with their timeless presence across human history. They connect us to the past, while shaping how we live today</p>

<p>Malatt says the courtyard also operates as a micro-climate, which can retain heat in winter and be a shaded haven in summer.</p>

<p>"The ability to take warmed or cooled air into the home from the courtyard space is a great way to improve internal health and minimise energy use through heating and cooling. In a compact urban environment like Brunswick, courtyards are also a clever solution - bringing light, greenery and nature into denser living formats while maintaining a strong sense of privacy and connection."</p>

<p>[smartcode_project:default project_id=136451 project_image_fid=270371]</p>

<p>This concept resonated strongly with early downsizers who recently purchased one of the Courtyard homes at Brunswick Established for themselves and their two adult sons, aged 21 and 24.</p>

<p>“We’re excited to have a home that gives us flexibility as our lives evolve, whether it’s our sons living with us as they finish university, or us being able to lock up and travel. Having separate spaces connected by the courtyard is perfect for our family dynamic, especially as we value our independence but also want to stay close,” they shared.</p>

<p>The couple, who also share their home with two dogs and two cats, highlighted the benefits of multi-generational living in a courtyard home.</p>

<p>“Our sons help care for the pets, we enjoy cooking and spending time together, and the courtyard means we have light, greenery, and privacy all in one. We love that Brunswick Established has thought about sustainability and customisation in such a detailed way, it’s rare to find that in a project.”</p>

<p>Beulah’s approach to design customisation at Brunswick Established, allowing residents to adapt layouts to their lifestyle, has been a major drawcard for buyers seeking homes that evolve alongside them. The detached living space offers flexibility to suit changing needs, whether as a studio, guest retreat, or home office, while maintaining a close link to the main residence, allowing family members to come together or enjoy privacy when needed.</p>

<p>[smartcode_project:default project_id=136451 project_image_fid=275570]</p>

<p>Malatt added that the&nbsp;homes have been designed for residents’ well-being, allowing couples and families to ‘grow’ in their own homes while ensuring they meet their needs for generations to come.</p>

<p>"Purchasers usually experience multiple lifestyle stages within one home, and we’re looking forward to seeing these unique homes come to life."</p>

<p>As part of this forward-thinking approach, Beulah will also host an exclusive event, The Property Market Decanted, on Wednesday 27 August at The Commons Café &amp; Cocktail Bar, Melbourne. The evening will feature insights from leading property and finance experts on Melbourne’s market outlook and long-term wealth creation strategies, particularly for multi-generational households.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=136451]</p>


Beulah release sustainable courtyard townhouse collection at Brunswick Established

<p>Hampton's High Street offers the best of both worlds; halfway between Hampton Beach and Hampton Station, with a myriad of cafes and shops on its doorstep.</p>

<p>It was this unbeatable combination of convenience and connectivity that attracted Nash Project Management to secure a prime site on the corner of Hampton and Holyrood Streets several years ago.</p>

<p>The result is <a href="https://www.apartments.com.au/buildings/holyrood-hampton-451-461-hampton-street-hampton-vic-3188">Holyrood &amp; Hampton</a>, a newly completed residential development comprising 59 premium apartments set above a full-line Coles supermarket, enhancing the day-to-day ease for residents.</p>

<p>[smartcode_project:default project_id=4629 project_image_fid=1530]</p>

<p>Those who have already moved into Holyrood &amp; Hampton have highlighted several standout features of their new home, with the location topping the list.</p>

<p>Hampton Station on the Sandringham line (Zone 2), is just down Hampton Street, offering regular services to Flinders Street Station. Multiple bus routes connect to Southland, St Kilda, and Berwick, while scenic cycling paths along the bay provide a relaxing alternative for commuters and weekend riders.</p>

<p>A short walk west leads to Picnic Point and Hampton Beach, beloved for its clean sand and family- and dog-friendly spaces. Ferdinando Gardens, near the pier, is perfect for picnics, while coastal walking trails offer peaceful views and breezes.</p>

<p>The surrounding green spaces—Castlefield Reserve, Triangle Gardens, and Hampton High Reserve—offer playgrounds, sports fields, and a sense of calm. Golfers have several options nearby, including Brighton Public Golf Course just a short drive away.</p>

<p>[smartcode_project:default project_id=4629 project_image_fid=1528]</p>

<p>Hampton Street remains the heart of the community, with more than 50 fashion boutiques, cafés, and eateries. A Woolworths anchors the retail strip, while independent shops help maintain its village charm.</p>

<p>Health and community services are easily accessible, with local GPs, dental clinics, and the nearby Sandringham Community Hospital, supported by larger hospitals in Brighton and Cheltenham.</p>

<p>Families are well catered to, with top private and public schools within a 1–2 km radius. These include Haileybury College, St Leonards College, Firbank Grammar, Brighton Grammar, Hampton Primary, and Brighton Secondary College.</p>

<p>[smartcode_project:default project_id=4629 project_image_fid=1532]</p>

<p>The apartments have been designed for longevity, with spacious, home-like layouts. Many include butler’s pantries, oversized kitchen islands, and quality finishes.</p>

<p>Additional features such as a rooftop terrace, EV charging, secure storage, and direct supermarket access support a highly functional and low-maintenance lifestyle.</p>

<p>Designed by Telha Clarke, Holyrood &amp; Hampton reflects how people want to live today—connected, walkable, and move-in ready.</p>

<p>[smartcode_project_cta:default project_id=4629]</p>


Those who have already moved into Holyrood & Hampton have highlighted several standout features of their new home, with the location topping the list.

Holyrood & Hampton presents a walkable, Bayside lifestyle in the heart of Hampton

<p>Developer Keylin is putting its mark on the booming Spring Hill property market, one of the strongest markets in Queensland which is being driven by the announcement that the heart of the Brisbane 2032 Summer Olympics will be developed in the small northern Brisbane suburb.</p>

<p>Well-regarded in the development industry, with several completed and planned projects across Brisbane and the Gold Coast, Keylin has just launched <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, a collection of 132 residences across 15 levels in an elevated position on Gregory Terrace, directly opposite Victoria Park, the future site of the Games.</p>

<p data-end="608" data-start="578">[smartcode_project:default project_id=109146 project_image_fid=1014]</p>

<h3 data-end="628" data-start="610">The Apartments</h3>

<p data-end="800" data-start="630">The two, three, and four-bedroom apartments feature an Art Deco-inspired design, with curved stone kitchen islands, brass textures, and bold interior colours and patterns. Durable mineral stone benchtops come as standard, while the skyhomes feature natural stone.</p>

<p data-end="800" data-start="630">[smartcode_project:default project_id=109146 project_image_fid=1078]</p>

<p data-end="1032" data-start="905">There are two colour schemes available for buyers to choose from: the bold Victoria scheme, or the more neutral Gregory scheme.</p>

<p data-end="1286" data-start="1034">Each apartment offers open-plan living and dining areas, as well as a large, covered balcony to embrace Brisbane's subtropical lifestyle. The living spaces are designed with full-height glazing to maximize views over Victoria Park and the Brisbane CBD.</p>

<h3 data-end="1305" data-start="1288">The Amenities</h3>

<p data-end="1411" data-start="1307">Leaning into its Olympic location, Keylin is introducing unique amenities that cater to changing lifestyle requirements.</p>

<p data-end="2046" data-start="1758">[smartcode_project:default project_id=109146 project_image_fid=1018]</p>

<p>Much like the shift developers made during the pandemic to include study nooks and multi-purpose rooms in response to the work-from-home trend, Keylin has responded to the growing popularity of pickleball. Oria will feature a proposed private pickleball court as part of its facilities, one of the first courts in a new residential development across the country.</p>

<p>Pickleball participation has surged in Australia from 2023 to 2024. In 2023, Pickleball Australia Association (PAA) had over 7,300 members, with an estimated 25,000 casual players nationwide. By 2024, PAA membership had grown to 15,166, with nearly 93,000 participants across the country.</p>

<p data-end="2046" data-start="1758">[smartcode_project:default project_id=109146 project_image_fid=1031]</p>

<p data-end="2335" data-start="2048">In addition to the proposed pickleball court, Oria will offer a range of proposed amenities within its rooftop pool and terrace level, including a cinema, music and games room, private dining spaces, and a gym with a steam room, sauna, and yoga space, as well as an off-leash dog area.</p>

<h3 data-end="2353" data-start="2337">The Location</h3>

<p data-end="2501" data-start="2355">Keylin understood the prime value of this location long before the announcement that Victoria Park would be the heart of the 2032 Summer Olympics.</p>

<p data-end="2628" data-start="2503">The address at 447 Gregory Terrace provides residents with easy access to major transport links, universities, and hospitals.</p>

<p data-end="2628" data-start="2503">Of course, the future growth of the area will be anchored by Victoria Park, the 64-hectare green space just across the road. The park will be transformed with the construction of a 63,000-seat stadium, which, after the Olympics, will become home to the Brisbane Lions, Brisbane Heat, and Queensland Bulls.</p>

<p data-end="2628" data-start="2503">[smartcode_project:default project_id=109146 project_image_fid=1023]</p>

<p data-end="2628" data-start="2503">Just 200 meters from Oria, the new National Aquatic Centre will replace the former Centenary Pool.</p>

<p data-end="3166" data-start="3039">Additionally, the nearby RNA Showgrounds, just 700 meters away, will undergo an upgrade to include a 20,000-seat outdoor arena.</p>

<p data-end="3266" data-start="3168">Keylin has already commenced construction on Oria, which is being delivered by builder CoStruct.</p>

<p data-end="3266" data-start="3168">[smartcode_project_cta:default project_id=109146]</p>


Keylin Group launches Oria in Victoria Park, Spring Hill Olympic precinct

Interstate Migration

<html><body>
<p>Weekly data from realestate.com.au showed 6,556 properties were sold last week, compared to 4,852 in the same week in 2020.</p>

<p>Sales volumes were up 32% nationally over the first 10 weeks of 2021, compared to the 2020 figures.</p>

<p>Sales volume for apartments was slightly higher than the jump in sales volumes for houses. Sales volumes of units were up 31% nationally over the first 10 weeks of 2021, compared to 2020 figures.</p>

<p>Sales volume for houses were up 29%. WA saw the biggest increase in apartments sales at 49% although the number sold was far less compared to the more populous states.</p>

<p>It matches Western Australian-based property investment consultancy, Momentum Wealth, which has reported a significant rise in enquiry from interstate buyers as WA’s residential property market continues to heat up.</p>

<p>[smartcode_project:default project_id=26734]</p>

<p>Momentum Wealth's Emma Everett, said the rise in interstate enquiry was up 164% in the final quarter of 2020 compared to the same time in 2019. Ms Everett said tightening conditions within Perth’s rental market also meant investors were in a position to benefit from a stronger yield play.</p>

<p>Ms Everett said while conditions were ideal for interstate investors considering a Perth investment, area and property selection would remain critical for those looking to benefit from the market upswing.</p>

<p>“Particularly in a recovering market, not all areas improve at the same rate, and there are some locations that may not have the right factors to support strong capital growth, so it is still very dependent on suburb and even individual property selection.”</p>

<p>The same spike is seen in the NT where the volume in unit sales was up 47%, according to the latest data from realestate.com.au.</p>

<p>[smartcode_project:default project_id=90553]</p>

<p>In the high volume states Queensland saw a 44% annual increase in the number of apartments sold over the first 10 weeks, while SA was up 40%.</p>

<p>New South Wales had a 21% jump in apartment sales volume. It was up 37% for ACT apartment volumes this year compared to early 2020.</p>

<p>Director of economic research at realestate.com.au Cameron Kusher noted overall supply levels remain low and demand is unprecedented, resulting in properties selling quickly and sales volumes lifting significantly.</p>

<p>He sees a strong autumn season, despite buyer demand on realestate.com.au slipping by 1% nationally for the second consecutive week last week to be down 2.4% from its peak.</p>
</body></html>

Weekly data from realestate.com.au showed 6,556 properties were listed as sold last week, compared to 4,852 in the same week in 2020. 

jchancellor

Early 2021 spike in apartment sales volume: Realestate.com.au

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<h3 class="post-title entry-title"> </h3>
<div>The ABS released its Characteristics of Recent Migrants survey for November 2016 yesterday, a release which the statistician puts out every three years. </div>
<h3 class="post-title entry-title"> </h3>
<div>The anti-immgration lobby will be trawling through the figures to see whether migrants were taking all our jobs (go home, we're full!) or not working enough (bludgers!), but in the end the three-year change in the figures wasn't all that remarkable.</div>
<h3 class="post-title entry-title"> </h3>
<div>Most migrants are employed, including 82 percent of skilled migrants, while the unemployment rate for Australian born citizens at 5.4 per cent was comfortably lower than the national average.</div>
<h3 class="post-title entry-title"> </h3>
<div>The labour force participation rate for recent migrants and temporary residents remained high at 70 per cent, and 84 per cent reported that wages or a salary were the main source of household income. </div>
<h3 class="post-title entry-title"> </h3>
<div><strong><span style="text-decoration: underline;">Recent migrants head to capitals</span></strong></div>
<h3 class="post-title entry-title"> </h3>
<div>The system is broadly working as it should, then, while the recent increase in permanent settlers is largely accounted for by an increased refugee intake from Iraq and Syria.  </div>
<h3 class="post-title entry-title"> </h3>
<div>One significant trend which stood out to me was the clear acceleration in recent migrants with their usual place of residence in one of the capital cities. </div>
<h3 class="post-title entry-title"> </h3>
<div>Migrants have always preferred the capital cities, of course, but at 88.3 percent the figure has clearly been accelerating higher over the past dozen years to now sit at incredibly high levels.  </div>
<h3 class="post-title entry-title"> </h3>
<div>Given that Australia's rate of immigration has also increased dramatically over the past dozen years this is potentially a hugely significant demographic trend.  </div>
<h3 class="post-title entry-title"> </h3>
<div>About 55 percent of Australia's population growth is presently accounted for by net overseas migration, while the other 45 percent relates to natural growth (being more births than deaths). </div>
<h3 class="post-title entry-title"> </h3>
<div>The trend towards capital cities holds true across all visa classes, but particularly so for those arriving as international students, a means of entry which is set to the most consequential driver of demographic trends.</div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/06/14/B1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/14/B1.jpg" alt=""></div>
<h3 class="post-title entry-title"> </h3>
<div>Looking at the geographical figures it becomes clear that since the peak of the resources boom Western Australia is not attracting or retaining recent migrants as successfully as it once was, while the southern states have not been retaining as many migrants as they might wish to. </div>
<h3 class="post-title entry-title"> </h3>
<div>The slack has been instead picked up by Sydney, and to a lesser extent Melbourne.  </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/06/14/B2.jpg" target="_blank">Click to enlarge</a></div>
<h3 class="post-title entry-title"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/14/B2.jpg" alt=""></h3>
<div>Interestingly Sydney loses a chunk of its population each year interstate or to other parts of regional New South Wales, meaning that the residual population of Greater Sydney is heavily tilted towards overseas born residents. </div>
<h3 class="post-title entry-title"> </h3>
<div>Melbourne and Brisbane on the other hand are attracting migrants internally, and as a result absolute population growth is tracking at record highs in Greater Melbourne, and is picking up speed in Brisbane.</div>
<h3 class="post-title entry-title"> </h3>
<p class="p1"><span class="s1"><em>PETE WARGENT is the co-founder of </em><a href="https://allenwargent.com/"><span class="s2"><em>AllenWargent</em></span></a><em> property buyers (London, Sydney) and a best-selling author and </em><a href="https://petewargent.blogspot.com/"><span class="s2"><em>blogger</em></span></a><em>.</em></span></p>
<h3 class="post-title entry-title"> </h3>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2017/06/migrants-flock-to-capital-cities-stay"> </a></h3>
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pwargent-M4siyDbqQY

Migrants flocking to capital cities - and staying there too: Pete Wargent

<html><body>
<p>The Brisbane residential market historically lags behind the Sydney and Melbourne markets valuation firm Herron Todd White recently noted.</p>
<p>The affordability plays as large numbers of southern state residents find their higher priced capitals are becoming hard work.</p>
<p>"Then a few pioneering souls realise if they sell their Surry Hills renovatable terrace for a very princely sum, they can move to our sunshine city and purchase a magnificent suburban abode within a short commute of the CBD – and still have plenty of change leftover for a very shiny car, boat, trip or local investment property," HTW suggested.</p>
<p>"There’s a bit of a chicken-or-egg with this movement.</p>
<p>"Some say employers drive the move first - which was mostly true during the mining boom where we felt the benefits – particularly if there were FIFO residents and/or the headquarters of mining companies set up in our town.</p>
<p>"Another theory is that relative affordability drives demand from southern residents first, and companies follow.</p>
<p>"This seems feasible too.</p>
<p>"It’s hard to retain workers, even those on a great wage, when rent and mortgage costs are taking a fair chunk of your weekly wage out of your pocket.</p>
<p>"Many big employers will recognise this, as well as the comparably better commercial costs of living in our well-connected capital, and will seek to set up an office where the sun shines."</p>
<p>This momentum builds with more employment in a great location and property costs that won’t ruin your savings account, the firm added, though currently the interstate migration "isn’t great" at present, as you can see from the ABS chart (3.2).</p>
<p>The state’s average annual since 2004 is around 15,000 persons.</p>
<p>As at 2014, we recorded an annual number short of 6,000.</p>
<p>The issue is that while there is a sizeable gap in property values between Brisbane and Sydney/ Melbourne, job numbers are down and our property prices have remained relatively uneventful.</p>
<p>"Iinterstate migration has been in negative territory over the past 12 months to two years and while inner city blue-chip property has seen attractive gains, mid-priced, mid-distance suburbs have seen their homes remain fairly steady in value.</p>
<p>"If you travel further afield to the high-rent fringes of our capital, then these markets are even softer.</p>
<p><a href="/images/2016/08/25/Screen%20Shot%202016-08-25%20at%209.01.05%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/08/25/Screen%20Shot%202016-08-25%20at%209.01.05%20AM.png" alt=""></p>
<p>"When we do start to see numbers of residents increase, the rising tide floats all boats," HTW forecast.</p>
<p>"Given the relatively small size of the Brisbane property market, everyone gets a boost, although we traditionally see prices rise fastest in those suburbs close to town first with our pebble-in-the-pond approach becoming firmly established over the past few cycles now.</p>
<p>"As far as we can tell, there’s no great interstate rush to Queensland as yet, and while we continue to be a steady, solid performer compared to other property markets in the nation, not many are predicting runaway price growth in the near future.</p>
<p>"If a major infrastructure project were to get off the ground, such as Cross River Rail, this may improve the performance of the economy however, this is still considered to be some time away.</p>
<p>"Probably best to just buy safe and wait for long-term gains," it concluded.</p>
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