A Message from the Managing Director: July 2025

As we welcome the new financial year and prepare to release our FY25 full year results in August, I’m keen to reflect on insights across the national residential market and factors influencing sales conditions across Australia.  

Across the country, market conditions vary but overall, they can be characterised as very positive for the new housing sector. In Queensland, Western Australia and South Australia we are experiencing good or strong conditions and are seeing high levels of demand for Cedar Woods’ products. Conditions in Victoria are relatively weak, though there are signs of improvement with enquiry and sales up in recent weeks.  Across all markets, prices continue to rise, albeit at a much slower rate than what was witnessed last year. Perth and Adelaide continue to post the strongest annual gains at 8.6%, followed by Brisbane at 7.1%. Melbourne’s annual rate of decline has eased from a low of -7.8% in January 2023 to -1.2% over the past year, with values steadily increasing since February 2025. (Source Core Logic Monthly Housing Chart Pack – June 2025). 

The population of Australia’s respective capital cities continues to grow due to increased inbound immigration; however, the pace of construction commencements and completions are not keeping up and the shortage of new housing continues to expand. We expect this dynamic will see the chronic shortfall of housing we have experienced over the last few years to continue to grow and will underpin the performance of the new housing sector in both sales volumes and sales prices as the property development industry struggles to keep up with demand.  

The national vacancy rate has held steady at ~1.3% in June, with sitting at Perth 0.8%, Melbourne 1.8%, Adelaide, 0.8% and Brisbane at 0.9% (Source SQM Research, May Residential Vacancy Rates).   

All levels of government are implementing policies designed to support increased residential housing supply such as faster approval pathways, openness to increased densities and financial support for enabling infrastructure.  

Cedar Woods has 37 projects and a total of ~9700 dwellings to supply into these conditions and will continue to pursue additional acquisition opportunities that cater to a range of product types and price points across the four states we operate in.  

With a strong balance sheet and sound liquidity, Cedar Woods is well placed to benefit from different state-based policies that support housing supply and meet the increased homebuyer demand across the country.