Ark Urbis Australian Macro­­economic &Property Outlook Spring Edition 2026

This issue reads differently to the national surveys that came before it, and that is by design. We see real value in deep diving into the places and sectors where we are investing and believe opportunity (or risk) is taking shape, rather than surveying the whole country lightly. The partners who build alongside us deserve that depth of thinking.

The wider backdrop is familiar to everyone reading this. Interest rates remain elevated, construction costs are high, and affordability continues to shape where and how Australians choose to live. Yet the foundations that matter to us hold firm. Population growth stays resilient, the economy is steady, and unemployment remains low. Real demand endures beneath the noise.

It is against that backdrop that Adelaide and Perth stand out to us. Both are markets where industrial land has become genuinely scarce, where housing supply is struggling to keep pace with the people arriving, and where demand rests on investment that will play out over many years, in defence across South Australia and in resources and energy across Western Australia. These conditions are why both markets have our full attention this time.

For those who build and borrow alongside us, I hope this outlook does more than inform. I hope it shows the care we take to understand a market before we back it. I encourage you to explore the pages that follow, and to reach out at any time.

– Sincerely, Peri.