UDIA OCTOBER 2016 SUMMARY - UDIA Victoria - Home pdfs/1610… · UDIA Research Breakfast –...
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SUMMARY • With 5 million visitors to our site each month and almost every listing, we are able to gather unique insights into the Australian residential market. • Nationally, demand for housing and apartments is high however there is distinct variation across states. NSW and Victoria are achieving very high levels of demand for houses and apartments. Western Australia is seeing far more challenged conditions for both houses and apartments. • Despite concerns about over supply, apartments in Melbourne are seeing very high demand levels with new developments in Port Melbourne and Melbourne CBD seeing the most views nationally. Brisbane CBD also features. • The most popular price points for new apartments is relatively low cost. For Melbourne, it is between $400,000 and $450,000. Not surprisingly, the most popular apartments are two bedroom, two bathroom. • The most popular house and land developments are in Queensland. The most popular location in Melbourne is Craigieburn however this is ranked 12th so relatively low down the list. • New taxes on foreign buyers, restrictions to finance and capital controls have led to a decline in interest in Australian property by Chinese buyers. Sydney has been hit the hardest. Interestingly, despite increased taxes on foreign buyers, interest in Brisbane has increased perhaps driven by increases in stock levels or greater affordability • Chinese buyers are most interested in Melbourne locations with large shopping centres however are becoming more interested in just apartments. House and land packages in places such as Adelaide and Perth are attracting a lot of interest. • Although there are concerns about too much apartment development, we are seeing a lot of interest in certain locations, far higher than levels of supply. For renters, demand for apartment in Gold Coast is far outstripping supply. For buyers, NSW features prominently with Manly the most in demand. 50 70 90 110 130 150 170 190 210 230 250 REA Group Property Market Index - Houses, 2013-2016 60 80 100 120 140 160 180 200 REA Group Property Market Index - Apartments, 2013-2016 UDIA Research Breakfast – Changing Consumer Trends & Preferences HIGHLIGHTS Presented by Chief Economist at REA Group, Nerida Conisbee UDIA OCTOBER 2016
Transcript of UDIA OCTOBER 2016 SUMMARY - UDIA Victoria - Home pdfs/1610… · UDIA Research Breakfast –...
SUMMARY
• With 5 million visitors to our site each month and almost every listing, we are able to gather unique insights
into the Australian residential market.
• Nationally, demand for housing and apartments is high however there is distinct variation across states.
NSW and Victoria are achieving very high levels of demand for houses and apartments. Western Australia
is seeing far more challenged conditions for both houses and apartments.
• Despite concerns about over supply, apartments in Melbourne are seeing very high demand levels with
new developments in Port Melbourne and Melbourne CBD seeing the most views nationally.
Brisbane CBD also features.
• The most popular price points for new apartments is relatively low cost. For Melbourne, it is between
$400,000 and $450,000. Not surprisingly, the most popular apartments are two bedroom, two bathroom.
• The most popular house and land developments are in Queensland. The most popular location in Melbourne
is Craigieburn however this is ranked 12th so relatively low down the list.
• New taxes on foreign buyers, restrictions to finance and capital controls have led to a decline in interest
in Australian property by Chinese buyers. Sydney has been hit the hardest. Interestingly, despite increased
taxes on foreign buyers, interest in Brisbane has increased perhaps driven by increases in stock levels or
greater affordability
• Chinese buyers are most interested in Melbourne locations with large shopping centres however are
becoming more interested in just apartments. House and land packages in places such as Adelaide and Perth
are attracting a lot of interest.
• Although there are concerns about too much apartment development, we are seeing a lot of interest in
certain locations, far higher than levels of supply. For renters, demand for apartment in Gold Coast is far
outstripping supply. For buyers, NSW features prominently with Manly the most in demand.
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REA Group Property Market Index - Houses, 2013-2016
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100
120
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200
REA Group Property Market Index - Apartments, 2013-2016
UDIA Research Breakfast – Changing Consumer Trends & PreferencesHIGHLIGHTS
Presented by Chief Economist at REA Group, Nerida ConisbeeUDIA OCTOBER 2016
• Port Melbourne
• Melbourne CBD
• Brisbane CBD
• Fitzroy North
• Drummoyne
• Two bedrooms, two bathrooms
• Victorians want larger apartments than other states
• Carpark, balcony, outdoor entertaining areas
• Ducted heating and cooling
• Storage
• $400k to $450k is most popular price point
Where are we seeing highest demand for new apartments?
Where are we seeing highest demand for house and land?
Chinese love Glen Waverley.
Development Hotspots
What are people wanting in new apartments?
Property seekers from China have dropped since last year.
Chinese are looking for greater diversity.
UDIA RESEARCH BREAKFAST – CHANGING CONSUMER TRENDS & PREFERENCES: HIGHLIGHTS
PRESENTED BY CHIEF ECONOMIST AT REA GROUP, NERIDA CONISBEEUDIA OCTOBER 2016
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Sydney Melbourne Adelaide Perth Brisbane
Most in demand by renters
1. Gold Coast, QLD 4. Balgowlah, NSW
2. Clifton Hill, VIC 5. Hobart, TAS
3. Stanmore, NSW 6. Middle Park, VIC
Most in demand by buyers
1. Manly, NSW 4. Cremorne, NSW
2. Drummoyne, NSW 5. Manly Vale, NSW
3. Parkdale, VIC 6. East Melbourne, VIC
1. Banksia Beach, QLD
2. Pimpama, QLD
3. Northgate, SA
4. Maroochydore, QLD
5. Cobbitty, NSW
Craigieburn ranks number 12
Glen Waverley
Doncaster Box Hill Mosman Prima Tower, Southbank Harpley, Werribee
Waterfront, Newstead
