🏘️ what density means for your clients...

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INTERNATIONAL

How do we address global density?

In a world where urbanisation is accelerating at an unprecedented pace, the challenges and opportunities presented by increasing city density have never been more critical. As cities swell and nearly 70% of the global population is projected to live in urban areas by 2050, the need for innovative solutions that balance growth with sustainability and well-being becomes paramount.

This isn’t an “over there” problem as housing density has surged across Australian cities, with Sydney and Melbourne leading the charge.

Ten years ago, CoreLogic says the 16 densest localities in Australia were all within Sydney, with only one of the top 20 outside, on the east side of Melbourne's CBD. Now, while Sydney still dominates with 13 of the top 20, Melbourne now has seven, including the top two — the north side of Melbourne's CBD and Southbank east. Addressing these pressing issues head-on, the Council on Tall Buildings and Urban Habitat (CTBUH) will host its annual international conference, "New or Renew: Addressing the Density Dilemma," later this month in the bustling metropolises of London and Paris.

A dual perspective

At the heart of the conference is the density dilemma — a concept that embodies both the challenges and opportunities of urban living. For some, the term conjures images of overcrowded cities struggling with inadequate infrastructure.

Tilley Gillan, Head of Property Services at MRE, underscores the complexity of managing urban density in Melbourne, particularly in the rental market. "There's still a massive demand, particularly in the city and those surrounding suburbs because,” she explains. "The media often portrays that there's too much availability, but it's actually the opposite. The market is hard. It's really hard for renters.”

Revitalising the old to build the new

As cities evolve, repurposing old structures to meet modern needs can preserve cultural heritage while minimising environmental impact. This is obviously a sustainable alternative to new construction. Gwyn Richards, Planning and Development Director at the City of London Corporation, advocates for a "retrofit first, not retrofit only" approach to urban development, balancing heritage preservation with the need for resilient and inclusive urban spaces.

Crafting livable cities

Beyond sustainability, the conference will delve into how cities can maintain or improve residents' quality of life amid increasing density. Poorly planned cities has led to overcrowding, strained infrastructure, and diminished public spaces. Ms Gillan said the broader impact of urban density on the housing market is evident.

"We're seeing a trend for people that traditionally would want to live in those high-density areas, now look further out, expanding where those high-density areas are," she said. There's an influx of people continuously coming into these areas and the market's hot.”

ICYMI, on Friday we were in conversation with “twins” Gavin Rubinstein and Mark McLeod

TOGETHER WITH HOMELY

Homely Awards honour Australia's top agents and agencies
Homely has announced the winners of its inaugural Homely Awards, celebrating the crème de la crème of Australia's real estate industry. Among the victors, Mike Lao of Eview Group, Josh Tesolin from Ray White Quakers Hill, and Nick Clarke of Clarke & Co Agents were recognised as top performers in the Best Residential Agent category. Ray White Upper North Shore claimed the prestigious Best Residential Agency national title, while Michael Talia from Woodards Manningham and Zsofi Popplewell from Laguna Real Estate were lauded as the Most Trusted Property Managers.

"The overwhelmingly positive response to The Homely Awards is a testament to the impact we're making in the Australian real estate industry," said Jason Spencer, Co-CEO and Co-Founder of Homely.

SMART SNIPPETS

Ray White Rural celebrates 30-year milestone. 
Ray White Rural and Livestock, marked its 30th anniversary with an awards ceremony in Toowoomba having grown from humble beginnings into a market leader. Top performers were recognised on the night with James Brown of Ray White Rural Albury receiving the prestigious Charlie Maher award.

Rising revenues for Rent.com.au.
The rental portal saw its revenue climb to $3.2 million last year, with its core search platform turning a profit. However, investment into the RentPay service, contributed to an overall $2 million net loss. The company remains optimistic about the future of RentPay, citing the "$60 billion a year" opportunity in the rental market.

Queensland rolls out new minimum housing standards to boost rental property safety and security
The introduction of Queensland’s minimum housing standards marks a significant shift in the rental property landscape, bringing clarity and consistency to the industry. Property managers, like Brooke Willis of Brooke Willis Property, are welcoming the change, as it simplifies the enforcement of maintenance and safety responsibilities. “Now that those standards are in place, there's a clear expectation of what is the landlord's responsibility,” she said.

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Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

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