Real Estate

Trends and updates on property markets, including residential and commercial sectors.

Real Estate
National home loans slip in Q1, still up 6% vs Q1 2024
Lending for dwellings eased in the March quarter of 2025, although total lending remained higher than in the same period last year, according to new figures from the Australian Bureau of Statistics (ABS). The number of new investment housing loans dropped by 3.7%, while new home loans for owner-occupiers fell by 3.4%. “March quarter’s overall fall in lending for dwellings followed strong growth through 2024 and remained higher (+6.0%) compared to this time last year,” said Dr Mish Tan, ABS head of finance statistics.Owner-occupier lendingA total of 79,890 new home loans were approved in the March quarter, marking a 3.4% decline - or 2,854 fewer loans - compared to the December quarter. The total value of these loans fell 2.5% or A$1.3 billion to $53.2 billion, while the average loan size decreased by $6,100 to $659,922. “While higher than this time last year, the 79,890 new home loans approved in the March quarter was lower than the pre-pandemic quarterly average of 84,405 loans between 2015 and 2019,” Dr. Tan added. Most states and territories recorded fewer loans, led by Queensland with a 2.5% drop, and Victoria with a 1.1% fall. Loan refinancing between lenders increased by 5.1% to 65,030 transactions, continu
Real Estate
Collins Street office space gets major $25m makeover
An iconic Collins Street office building in Melbourne has had a $25 million facelift. Property group Mirvac has revealed the transformation of 55 Collins Street office building, which is part of Collins Place and located at the ‘Paris end’ of the Melbourne CBD street in Victoria. The makeover includes a fresh lobby, a modern façade, wellness facilities, and smart tech building upgrades.Credit: realcommercial.com.auAdditionally, Mirvac has begun electrical upgrades at the site, as part of its ESG plans. The refurbished building is now fully operational, with the new look already stirring interest in leases, most notably from Salesforce as they expand their presence to 55 Collins. The space also features a partnership with The Commons, a flexible workspace provider that occupies six levels and will add a cocktail bar and café.
Real Estate
CoStar wins parental approval for $3bn Domain marriage
United States real estate information provider CoStar clearly liked what it saw when it looked under the bonnet at Domain Holdings, making an agreed offer that has won the ascent of the digital real estate company’s parent company, Nine Entertainment. Domain said it had entered into a binding Scheme Implementation Deed for CoStar to buy the 83.1% of Domain it does not already own by way of a Scheme of Arrangement, taking it private after eight years on the Australian Securities Exchange (ASX), if approved by shareholders. The offer of $4.43 per share, less any special dividend declared or paid after today, values Domain at an implied enterprise value of A$3.0 billion (US$1.92 billion). The Domain Board has unanimously recommended that shareholders vote in favour of the Scheme, without a superior proposal, and subject to an Independent Expert concluding it is in the best interests of shareholders. Nine, which owns 60% of Domain, has advised Domain it will vote in favour of the Scheme at a shareholders' meeting in mid-August, subject to the same conditions as the Board made. The offer was at a premium of 42.0% to the ‘undisturbed’ share price of $3.12 per share before CoStar made its initial offer on 21 February, 50.2
Real Estate
Revenue growth of over 15% for REA Group in Q3
Global online real estate advertising company, the REA Group has reported strong Q3 results with significant revenue growth and increased audience engagement across its platforms. REA Group Chief Executive Officer, Owen Wilson said: "REA delivered a strong third quarter result underpinned by double-digit yield growth as we continued to drive increased value for customers across our premium products. The first interest rate cut in 4 years, combined with expectations of more to come, spurred buyer demand and supported house price growth across the country. “These conditions encouraged sellers to bring properties to market with listings matching the very strong levels of this time last year.”Credit: REA GroupFinancial Performance Revenue for the nine months ended 31 March 2025: $1,247m, up 18% YoY. Q3 revenue: $374m, a 12% increase YoY. EBITDA excluding associates: $734m, up 19% YoY; Q3 EBITDA: $199m, up 12%. Free cash flow: $389m, a 21% increase YoY.Australian Market Australian revenue: $340m, up 11% YoY. Residential revenue increased by 12% for the quarter. National listings were flat YoY, but Buy revenue grew because of a 15% yield increase. Rent revenue rose with an 8% average price increase an
Real Estate
Prince of Dubai's penthouse fails to sell in Vancouver
A luxury Canadian penthouse linked to Dubai’s royal family has failed to find a buyer after 72 days on the market, with its CA$21 million (A$23.53 million) listing now expired. The Vancouver property, located at 1011 West Cordova St., was listed in January but removed from the market in April, according to Zealty.Credit: Fairmont Pacific RimThe Canadian penthouse is owned by Leemar Investments FZE, a Dubai-based venture capital firm reportedly managed by the director general of the Office of H. H. The Crown Prince of Dubai. The 6,480-square-foot penthouse, dubbed the “crown jewel” of downtown Vancouver, boasts three bedrooms, four bathrooms, and expansive views. Sotheby’s International Realty Canada highlighted its dramatic rooftop deck and private terraces, adding 2,582 square feet of outdoor space. Despite its prestige, the property failed to attract a buyer, raising questions about Vancouver’s high-end real estate market and foreign investment trends.Credit: Sotheby’s International Realty CanadaThe penthouse is part of the Fairmont Collection, which includes four properties linked to the prince, collectively valued at over $40 million. So far, this is the only unit reported as delisted, while the status of the remaining p

Real Estate
Lendlease expands Collins Wharf with waterfront tower
Lendlease has officially commenced construction on Ancora at Collins Wharf, a landmark residential tower hoping to redefine Melbourne’s waterfront living. Located at 971 Collins Street, Docklands, Ancora has already secured over 50% in presales, reflecting strong investor appetite for premium cityside properties. The 28-storey tower will offer uninterrupted views across Victoria Harbour, the Yarra River, and Port Phillip Bay, reinforcing its appeal among high-net-worth buyers seeking exclusive waterfront access. Ancora is Lendlease’s third residential development within Collins Wharf, following Regatta, which is already 85% sold and under construction. The broader Collins Wharf precinct will eventually deliver over 1,800 residences across six architecturally designed towers, surrounded by 5,000 sqm of parkland. Melbourne’s Lord Mayor Nicholas Reece attended the groundbreaking event, saying, “The appetite for quality-designed residential living in Melbourne is insatiable. We’re pleased to see a development that opens the door to world-class lifestyle apartments surrounded by waterways and greenery while remaining within arm’s reach of the CBD. “Melbourne’s population is expected to swell to 142,000 residents by 20
Real Estate
ABS: National building approvals slump 8.8% in March
Australian building approvals fell sharply in March 2025, with broad declines across dwelling types and states, amid a continued slowdown in residential construction activity, despite a surge in non-residential projects. According to the Australian Bureau of Statistics (ABS), the seasonally adjusted estimate for total dwellings approved declined 8.8% to 15,220 in March. Approvals for private sector houses fell 4.5% to 8,804, while private sector dwellings excluding houses - a category that includes apartments, terraces, and townhouses - slumped 15.1% to 6,104. “The falls were seen across all dwelling types in March with private dwellings excluding houses down 15.1%, and private sector houses 4.5% lower,” said Brock Hermans, ABS Head of Construction Statistics. State-level data showed declines in most regions for total dwellings: Tasmania fell 42.2%, Victoria lost 31.6%, Western Australia dropped 20.5%, and South Australia dipped 11.9%. In contrast, New South Wales added 19.6% and Queensland increased 5.8%. The number of private sector house approvals nationally fell 4.5%, following a 1.1% rise in February, and was 3.3% lower than the same month last year. Regionally, approvals fell in Victoria, down 10.0%, Que
Real Estate
New Zealand's property market gains momentum
Home values in Aotearoa New Zealand rose 0.3% in April, marking the fourth consecutive monthly increase as market confidence builds. The Cotality Hedonic Home Value Index (HVI) hit $819,096, its highest level since June 2024 but still 16% below its January 2022 peak.Regional Markets Show Broad-Based Growth Major centres saw steady gains, with Kirikiriroa Hamilton leading at +0.8%, followed by Ōtautahi Christchurch (+0.5%) and Tāmaki Makaurau Auckland (+0.3%). Smaller increases were recorded in Ōtepoti Dunedin, Te Whanganui-a-Tara Wellington, and Tauranga (+0.1%), showing broad but measured improvement. Different Property Types Join the Recovery The upturn is now spreading across housing segments, with standalone houses rising 1% and townhouses up 0.9% since January. Lifestyle properties saw a modest 0.2% gain, suggesting varied recovery speeds across property types. Economist warns against over-optimismCotality NZ (formerly CoreLogic NZ) Chief Property Economist Kelvin Davidson acknowledged the ongoing recovery but urged caution. “Clearly, lower mortgage rates have been a strong support for property values in recent months, giving more buyers the confidence and ability to enter the market. Perhaps in a slightly perverse
Real Estate
Housing prices continue to rise across Australia
The national Home Value Index recorded a third-straight month of growth in April according to Cotality (formerly known as Core Logic). Dwelling values grew 0.3% to a record high, adding around A$2,720 to the median value of an Australian dwelling over the month. Cotality’s research director, Tim Lawless, said the rise was likely influenced by rate cuts in February and global tariff uncertainty. “Household confidence slipped in April, with the US’s ‘Liberation Day’ tariff announcements and the upcoming federal election causing uncertainty,” he said. “It is likely this may be causing some buyers and sellers to delay their decisions.” All capital cities saw increases, with the highest rises in Darwin (up 1.1%) and Hobart (up 0.9%). Despite steady growth across the country, it has eased from the 0.4% rise in March, with sentiment and auction clearance rates slumping throughout the month. Melbourne and Sydney recorded the lowest growth, only rising 0.2%. Regional cities also outpaced capitals overall, with a 0.6% increase. Related contentNational house prices lift in April and expected to keep rising amid rate cuts