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Christopher's Housing
Boom & Bust report 2022

Reference Christopher's Boom and Bust Report 2021  
Did we get this year right? You be the judge    

Distressed Property of the Week

1206/18 Malone Street Geelong VIC 3220

The vendor is now accepting offers from $660,000 on this 2-bedroom apartment, located in Geelong . The price has been reduced as of March 2021 to attract buyers, with the initial price of $750,000 - $800,000. The apartment currently has a tenant in place on a periodic lease.

According to Ross Bywater from Release Property Management, this 2-bedroom apartment is located on the 12th floor of the waterfront Mercer building. The open-plan unit comes complete with secure parking and bay views from the bedrooms. Geelong's western waterfront, bars, restaurants, shopping and public transport are all within walking distance.
If you think it is a good deal, make sure you crunch the numbers first. In postcode 3220, the vacancy rate has decreased over the last 12 months to 1.2% in November 2021 from 1.8% in November 2020. Asking rents have risen 4.8% over the last 12 months to 16 November 2021. The gross rental yield on units currently sits at 3.3%.

However, asking sales prices for units have increased over the year by 11.3%. You can view recent sales in 3220 here. Given these figures, equip yourself with the latest market research, as you could possibly drive a harder bargain with the seller.

Monitor this market and others with SQM Research’s free property data. Also consider the SQM Property Explorer product for more in-depth data and property price estimator.

Vacancy Rates Fall to Ten Year Low

Sydney and Melbourne drive the national result lower

SQM Research today has revealed national residential property rental vacancy rates fell to a ten year low of 1.6% over the month of October 2021.

Vacancy Rates

The total number of vacancies Australia-wide now stands at 56,953 residential properties, down from 59,345 in October. Sydney, Melbourne’s and Hobart vacancy rate dropped to 2.6%, 3.3% and 0.4% in October from 2.7%, 3.5% and 0.5% in September. In Brisbane, Perth, Adelaide, Canberra and Darwin the vacancy rate remained below 1.0%. Vacancy rates fell in the Sydney CBD and Melbourne CBD to 7.5% and 8% respectively yet still remain at high levels compared to historical averages.

Louis Christopher, Managing Director of SQM Research said:
“For the month of October 2021, rental vacancy rates fell again, this time driven lower by falls in Sydney and Melbourne. The last time we recorded national vacancy rates this low was March 2011. Other capital cities were largely steady and that was also the case for a number of the regional townships, albeit regional Australia really has not much room to fall lower. Indeed a number of regional towns are now recording no vacancies whatsoever.

We have what appears to be an improvement in occupancy in our largest CBD locations, however there is still ample rental stock and indeed rents in the Sydney CBD have been falling again since June which is no doubt attributed to the lockdown starting that month. Melbourne CBD rents have actually held steady over the same period. If we really are at the point where lockdowns are a thing of the past in this country, then it is likely the CBD locations will recover for property owners in 2022. Elsewhere rents continue to steadily rise as a result of these very tight rental conditions across Australia.”

Over the month to 11 November 2021, national asking rents rose 0.4% for houses to $537 per week and units rose by 1% to $412 a week. Capital city rents rose by 0.2% for houses over the past 30 days to stand at $582 a week. Rents for units rose by 0.5% to stand at $424 a week.

Auction Results

for week ending 14th November 2021
Full individual auction results can be found on our website:

Auction Listings*

for week ending 21 November 2021

CITY Saturday   Rest of Week STATE Saturday   Rest of Week   Link
Sydney 1100   392 All NSW 1294   625   Auctions in NSW
Melbourne 1391   332 All VIC 1562   384   Auctions in VIC
Brisbane 177   83 All QLD 294   185   Auctions in QLD
Perth 14   8 All WA 14   10   Auctions in WA
Adelaide 171   98 All SA 172   108   Auctions in SA
Canberra 108   67 All ACT 108   67   Auctions in ACT
Darwin 3   6 All NT 3   6   Auctions in NT
Hobart 0   0 All TAS 1   0   Auctions in TAS

* The above counts of auctions represent most recent known auction dates for the coming week.

Real Estate Realities

Apartment in New York’s star-studded Beresford building for sale with $13m discount

This New York Apartment featured in the Beresford building is listed for a price guide of $US12.95 million, almost half the $US22.5 million price it was listed for in 2018 according to the New York Post. The building current and former residents include Jerry Seinfeld, Meryl Streep, John McEnroe, Cosmopolitan editor Helen Gurley Brown and former Fox TV personality Kimberly Guilfoyle.

The 14th-floor apartment was renovated by architect Alan Wanzerberg and "features three bedrooms, 3.5 bathrooms and knockout views over Central Park." The home comes complete with a "formal dining room, its own library, a wood-burning fireplace in the living room and solid oak cabinetry." 
The Beresford building dates back to 1919 and was designed by architect Emery Roth. The block boasts a gym, bicycle room, a doorman and is featured in a great location opposite top restaurants, the American Museum of Natural History and Central Park. The home is currently being listed by agents Paula Del Nunzio of Brown Harris Stevens and Corcoran’s Maria Pashby and Joanna Pashby.

More ...

Black Dragon's Words for the Week


“We must be willing to let go of the life we planned so as to have the life that is waiting for us.” —

~ Joseph Campbel

SQM Research Housing Indexes

SQM Research Weekly Asking Prices Index

Week ending
16 Nov 2021
Asking Price Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses 1,716.7 31.7  1.8%  26.2% 
All Units 706.7 2.6  0.5%  5.2% 
Melbourne All Houses 1,135.3 3.1  1.5%  10.7% 
All Units 574.5 1.0  0.4%  -0.2% 
Brisbane All Houses 788.5 3.6  3.6%  20.5% 
All Units 408.7 -0.2  1.8%  7.6% 
Perth All Houses 714.9 0.2  0.9%  6.4% 
All Units 394.6 1.0  1.0%  3.9% 
Adelaide All Houses 628.9 7.8  2.0%  18.0% 
All Units 324.8 0.4  1.0%  3.2% 
Canberra All Houses 854.5 7.3  -0.3%  5.5% 
All Units 475.3 -2.3  -3.3%  0.6% 
Darwin All Houses 647.5 0.3  0.2%  11.1% 
All Units 383.1 5.2  2.5%  8.6% 
Hobart All Houses 682.7 -0.2  0.2%  18.1% 
All Units 442.3 -0.8  0.4%  12.5% 
National All Houses 746.0 6.3  3.3%  18.0% 
All Units 446.7 1.2  -0.2%  9.4% 
Cap City Average All Houses 1,176.6 16.7  2.7%  19.3% 
All Units 587.6 2.1  0.8%  3.9% 

Next update: 23 Nov 2021

SQM Research Weekly Rents Index

Week ending
12 Nov 2021
Rent Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses 710.2 3.8  1.1%  12.2% 
All Units 469.9 0.1  0.5%  4.6% 
Melbourne All Houses 524.3 1.7  -0.2%  2.2% 
All Units 372.9 0.1  -0.2%  -3.9% 
Brisbane All Houses 536.8 2.2  1.6%  14.8% 
All Units 395.2 0.8  -0.5%  4.8% 
Perth All Houses 527.1 2.9  0.4%  10.1% 
All Units 403.6 -0.6  0.7%  11.4% 
Adelaide All Houses 457.2 -1.2  0.1%  9.1% 
All Units 334.0 -1.0  -1.4%  8.1% 
Canberra All Houses 718.5 2.5  0.2%  13.4% 
All Units 524.5 1.5  1.8%  9.4% 
Darwin All Houses 611.7 -41.7  1.2%  11.5% 
All Units 460.1 -13.1  -0.6%  21.4% 
Hobart All Houses 504.8 -3.8  3.7%  16.5% 
All Units 404.9 -14.9  -7.1%  4.3% 
National All Houses 549.0 12.0  2.4%  13.2% 
All Units 412.0 0.0 0.7%  8.1% 
Cap City Average All Houses 587.0 3.0  0.9%  9.1% 
All Units 424.0 0.0 0.0% 3.7% 

Next update: 20 Nov 2021

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