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An expatriate Australian family has paid just short of $20 million for a new five-bedroom Toorak home.
It was a four-level house on a 790-square-metre block at 2 Mysore Court that fetched $19.8 million.
It sold at an invitation-only private auction held by Abercromby’s Real Estate agent Jock Langley who had suggested a $14 million price guide. 
The mansion has extensive smart technology, an 18-seat cinema and an infinity pool with a lift providing access to its four levels. It provided 100 square metres of living and entertaining areas, plus a six-car basement garage.
It cost property developer Chris Holland $4.45 million in 2015 before he built the new glass encased home developed with interior designer wife Wendy.
Jack Merlo landscaped gardens now surround the home on its 790 sqm block.
The architect designed five bedroom home offers around 100 sqm of family living and entertaining space.
A rooftop entertaining terrace with rumpus room comes with views of the Melbourne city skyline.
A stand out feature is the cutting edge, THX certified 18 seat cinema with bar.
The smart home embodies integrated entertainment systems throughout, plus C-Bus and a solar panel system.
There's a climate controlled wine cellar, gym, games room and tranquil infinity pool with water wall courtyard.
Four of the six homes on the cul de sac had sold last year, with one at $7.25 million.
This neighbouring 1980s-style house with a tennis court at 3 Myvore Court has now resold for $8 million plus ahead of its scheduled Kay &amp; Burton auction.
The property sits on 1324 square metres of land.
The exclusive Toorak cul-de-sac is near the corner of Toorak and Glenferrie roads.
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$20 million Toorak home bought by expats

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GUEST OBSERVER
Data released showed that new home sales rose by 0.8 percent in April after falling by 1.1 percent in March. 
The number of detached house sales rose by 2.2 percent in April. Multi-unit dwelling sales fell by 1.2 percent in April. 
The home sales data has implications for banks, retailers, developers, building and building material companies. 
What does it all mean?
The latest lift in new home sales essentially doesn’t alter the trend. The housing sector has peaked in terms of activity and is likely to be more subdued over the coming year. It is important to keep in mind that overall new home sales remain healthy, but the macro-prudential measure and resulting tight lending standards adopted by the banks will have a more lasting impact on housing activity.
The focus for policymakers will be the mix of investor and owner occupier loans over the next six months and what happens to house prices. It is clear that housing activity is consolidating with potential home buyers being more circumspect on purchases, given higher home prices and the lift in borrowing costs. The softening in home building should lead to a much more sustainable housing market.
Importantly the pipeline of new home building remains solid and should support an array of sectors and broad- based activity. The latest data doesn’t have a great influence on the next interest rate decision. The Reserve Bank is comfortably on the interest rate side lines for the rest of 2017.
<a href="https://www.propertyobserver.com.au/images/2017/06/02/Screen%20Shot%202017-06-02%20at%2012.40.56%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/02/Screen%20Shot%202017-06-02%20at%2012.40.56%20PM.png" alt="">
What do the figures show?
New home sales
In seasonally-adjusted terms, new home sales rose by 0.8 percent in April after falling by 1.1 percent in March. The number of detached house sales rose by 2.2 percent in April. Multi-unit dwelling sales fell by 1.2 percent in April.
 The Housing Industry Association reported: “Amongst the jurisdictions surveyed, New South Wales (+2.2 percent), Victoria (+14.3 percent) and South Australia (+7.0 percent) all posted improving sales figures for private detached houses in April, while both Queensland (-4.7 percent) and Western Australia (-12.7 percent) recorded falls.”
What is the importance of the economic data?
The Housing Industry Association releases data on the sales of new homes each month. The HIA collects the data each month from a sample of Australia's largest 100 home builders. The survey covers around 14 percent of the home building industry. 
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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Number of detached house sales lift: Savanth Sebastian

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GUEST OBSERVER
The package of measures to support first homebuyers released by the NSW Government is a step in the right direction.
The decision to support first homebuyers with the purchase of existing properties is something that we have been lobbying fiercely for for some time now.
It is great to see that the NSW Government has recognised the significant role that existing properties play in the issue of housing affordability and the restrictions first homebuyers faced with paying excessive amounts of stamp duty.
Premier Gladys Berejiklian announced the stamp duty exemption will be extended to first homebuyers of existing homes up to $650,000 from 1 July 2017 and reduced stamp duty rates to homes valued up to $800,000. The current stamp duty exemptions on new homes up to $550,000 and a reduced rate stamp duty rate to $650,000 will also be increased to match the new exemptions and concessions for existing homes.
We believe there is room to increase stamp duty concessions to further reflect the median house price in Sydney as well as Newcastle and Wollongong and believe that at the levels announced by the state government, regional areas, where property prices are not so high will benefit from an influx of first homebuyers.
However, not enough has been done to address bracket creep. As a result the rest of the market is left to pay excessively high stamp duties that have not been reviewed for more than 30 years and have gone on average from less than 2 percent of the purchase price to now more than 4 percent.
The effects of the announced foreign investment levies are a great unknown as they could have a positive or a negative effect.
If the new levy doesn’t dampen the enthusiasm of foreign investors there will be the same level of activity, they will pay a higher price and the government will reach it’s revenue targets, however little will be achieved to help with the issue of housing affordability because they will still be competing with first homebuyers.
On the flip side if they do respond and go elsewhere it could have a negative effect on the marketplace as it will impact on construction and employment. There is the possibly of a huge negative impact on the viability of major developments due to the banks insistence on extensive presales. This would put upward pressure on supply and rents.
We are waiting on the detail of the medium density changes as this was a big part of our lobbying. REINSW believes it is one of the quickest solutions to the supply/choice issues of getting people moving to more appropriate housing.
We are hoping that the state government is going to retain some powers on this as local councils are too slow to respond due to NIMBYism. REINSW is after a coordinated multi occupancy policy to enable two, three and four dwelling medium density subdivisions in residential zones similar to the old SEPP on dual occupancy.
REINSW recognises that the document released by the NSW Government is entitled “A Fair Go for First Homebuyers”.
We hope that the second phase of the Government’s housing affordability plan is “A Fair Go for Retirees” which includes stamp duty concessions for retirees to sell and move to a more appropriate home, by providing a discount on a single purchase for people aged 65 and over to get the stock of clogged family homes into the market.
The retirees are often sitting on nest eggs they could realise much earlier whereby they could subdivide and build a new more appropriate home along with a home or two to sell or retain for family or low-income accommodation.
This is great first step by Premier Berejiklian to address housing affordability as pledged in her first days of office. We look forward to seeing the Government build on this promise and will continue offer support and guidance throughout the process. 
 
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John Cunningham is president, REINSW and can be contacted <a href="https://www.reinsw.com.au/imis15_Prod/web" target="_blank">here</a>.
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First homebuyers package a step in the right direction: REINSW

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GUEST OBSERVER
Martin Currie Australia, active equity affiliate of Legg Mason, noted that contrary to some analyst reports, the entry of online retailer Amazon in Australia could boost the domestic retail sector instead of a ‘doomsday scenario’ for the sector.
It’s clear that some hedge funds have been shorting discretionary retailers such as JB Hi-Fi (JBH) and Harvey Norman (HVN) since the market became aware of Amazon’s Australia strategy to open distribution centers later this year.
They have based their analysis looking at the demise of bricks and mortar retailers in the US, a very mature market, due to the ‘Amazon effect’.
However, before we jump to any such conclusions in Australia, it’s worth looking at a comparable company to JBH, which is Best Buy USA.
Best Buy reported earnings which excluding abnormal items were up 40 percent pcp for the first quarter 2017. The share price rose 22 percent.
We believe that given JBH and HVN are very dominant and profitable retailers with leverage to population growth and housing, similar to Best Buy USA, they will be well placed when Amazon begins to operate in Australia.
Wesfarmers (WES) and Woolworths (WOW) are also well prepared for the entry of Amazon with online home delivery already a significant part of their customer focus and innovation.
The other key point is that WOW, Coles (owned by WES) and JBH are located in large shopping centers around Australia.
And there are considerable differences between the US and Australian retail sector that need to be taken into account when considering the likely impact of Amazon’s entry into the local market.
Australian retail centers are better placed then their US counterparts.
In the US, supermarkets are not co-located with discretionary shops, so they are separate trips which affects foot traffic. Retail space per capita is multiple times greater in the US than in Australia.
Australian online retail continues to grow towards market share levels seen in the US, so we may see a shift of market share within those online sales to Amazon.
Overall, we think the physical mall winners will be those that can fulfil the role of the town square and offer an experience to the consumer. Australian shopping malls already have a variety of restaurants, movie theatres, free car parking and entertainment.
We also think that real estate investment trusts with logistics assets will benefit from Amazon’s entry and moves by other retailers to beef up their online presence. 
Reece Birtles is a chief investment officer, Martin Currie Australia and can be contacted <a href="https://www.martincurrie.com/institutional/australia" target="_blank">here</a>.
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Amazon to boost Australian retail sector: Reece Birtles

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<img src="https://counter.theconversation.edu.au/content/78338/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The ubiquitous cafes across Australian cities attract locals and tourists alike, but surely there's more to thriving neighbourhoods than a flat white.
Iconic architectural pieces may attract large numbers of tourists but are not the only things that live in the memories of visitors to Australian cities. Everyday experiences also endure. In fact, eating is one of the top tourist activities.
It’s also where the money is spent. According to Tourism Research Australia’s Tourism Satellite Account 2015-16 report, tourists spend the largest percentage of their money – about 21 cents in every dollar – on takeaways, restaurant meals and beverages.
It isn’t just international tourists searching for memorable cafe and dining experiences – leisure-seekers from nearby suburbs or towns are too. According to Food Industry Foresight’s Coffee &amp; Beverages In Australia annual tracking study, Australians drink about two coffees out per week. That equates to about 1.8 billion espresso-based coffees a year, costing A$7.3 billion.
So that cafes, restaurants and bars remain competitive, the architecture becomes part of the attraction. This has led to some ubiquitous design signifiers: white subway tiles, reclaimed timber, austere pendant lighting, white anodised SHS steel and exposed brick.
Additionally, cafe names often echo a civic rhetoric – see Common Ground, Public House, New School Canteen.
The replication of the cafe typology – each must have the right owner, the right coffee, and the right baristas, business name and interior designer – can be as tedious as the desire of city authorities to have a leisure landscape, a stadium, or an event to fill it.
Cities use these precincts and events as strategic tools to project an attractive image of themselves as they compete for tourist dollars, business investment, professional talent and the coveted high ranking in liveability indexes.
And Australia has many tourist leisurescapes under construction. There’s Darling Square, a A$3.4 billion neighbourhood near Sydney’s Darling Harbour; Perth’s Elizabeth Quay, a mixed-use development of office, entertainment and residential buildings around a 2.7-hectare artificial river inlet; and the Gold Coast’s expanded cultural precinct of 16.9 hectares, with Stage 1 to be delivered in time for the 2018 Commonwealth Games. And each comes with those ubiquitous cafes.
Leveraging the lure of the cafe
Property developers have recognised how to leverage the popularity of this “flat white tourism”. A nearby “cappuccino” strip can increase land values. It also helps with marketing apartment buildings: the promise of a cafe that anchors a new development is enticing for home buyers and investors.
Local councils also see cafes as desirable. To maintain street life, planning regulations often require active, public-facing street fronts, rather than blank walls, car parks, gardens or fences. The aim is to accommodate activity that encourages pedestrian interaction and casual surveillance.
Paired with changing consumer habits (such as online and mall shopping), the result is that many high streets are now dominated by the cafe, a sort of “high street lite”. The cafe appears to be a market-driven solution to achieve an active street front in Australian cities. This is flat white urbanism.
Consider the alternatives
Australians are not just consuming coffee. In fact, people are not just passively consuming cultural or leisure activities (such as going to bands or watching sport). Australians are making, doing and playing; active participation is on the rise around the country.
For example, the Australia Council study Arts in Daily Life: Australian Participation in the Arts highlighted that about one in three Australians is involved in creating visual art or craft. The Australian Bureau of Statistics’ General Social Survey, 2014 shows that 31% of Australians are also volunteering. This has put pressure on council services and raised questions about how councils can help enable community activity.
The availability of affordable and accessible space is a looming issue in major Australian cities. There is demand for more diverse uses at ground level – studios, live-work apartments, community rooms, kindergartens, ateliers, small-scale light industrial zones, education facilities.
But the desire among lessors for the maximum rental return means less profitable businesses or civic users can’t afford street-fronting leases.
A way to fund diverse activity
The concept of the developer contribution offers an opportunity to reimagine the ground plane of apartment buildings, to diversify away from look-alike cafes. The developer contribution is a percentage of a building budget that goes to community infrastructure (for the health, safety or wellbeing of the community).
At present, this money is generally channelled via council towards building libraries, multipurpose community centres, maternity health centres, sporting facilities or neighbourhood parks with play equipment. Cultural infrastructure seldom comes into the frame.
It is at the level of developer contribution that local councils can intervene. This could be through an ad-hoc process of negotiating more floors for the development in return for providing community space. Or it could be through rezoning, which is tied to developer contributions.
For example, developers could be granted a larger floor-area ratio through rezoning if they give a percentage of the building over to community use. This could include social housing.
A redefinition of what comprises community infrastructure could underpin this shift. This might extend to redefining public art contributions – developers are often required to provide a percentage of their project budget to public art. Would a subsidised artist studio be more valuable than a sculpture?
Urban policymakers have to be careful to maintain the uniqueness and distinctiveness of a place for both locals and tourists. Responding to the proliferation of cafes by creating incentives for, or regulating, other uses could be one way to diversify street life.
Then, cafes might not only give the appearance of a cultural scene, or of it being made somewhere nearby, or of it happening on the first floor. It is happening next door. This brings benefits to both the local and non-local coffee tourist.
Timothy Moore is PhD Candidate, Melbourne School of Design, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/timothy-moore-292089" target="_blank">here</a>.
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Flat white urbanism: there must be better ways to foster a vibrant street life

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Dwelling values across the combined capital cities fell 1.1 percent in May month on month on the back of declines in Sydney and Melbourne.
Releasing the CoreLogic May 2017 Home Value Index Results, Tim Lawless, CoreLogic head of research said values have fallen during May in four of the past five years.
Reading through the seasonality, he said, indicates that value growth in the market has lost momentum, particularly in Sydney and Melbourne where affordability constraints are more evident and investors have comprised a larger proportion of housing demand.
 “The past three months has seen capital city dwelling values rise by a modest 0.4 percent, with four of the eight capitals recording a fall. Over the past three months, Sydney dwelling values are unchanged while Melbourne values have increased by 0.7 percent,” he said.
“The trend in growth rates across the smaller capital cities was mixed with dwelling values across Brisbane and Adelaide continuing to inch higher while values in Perth and Darwin showed further easing over the most recent rolling quarter.
"A steep drop in the Hobart index has reversed the gains recorded over the previous quarter and the Canberra index was also -1.5 percent lower over the past three months.
“Adding to the complexity in reading the current market is the recent Australian Prudential Regulation Authority (APRA) announcements at the end of March for a new round of macroprudential measures aimed at slowing the pace of interest only lending.”
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He said another factor that is likely contributing to slower growth conditions is a dent in consumer confidence as consumer sentiment towards housing, as measured by Westpac and the Melbourne Institute, has shown a marked downturn in May.
“In particular, the Westpac ‘time to buy a dwelling index’, fell 6.5 percent over the month. According to Westpac, ‘consumer sentiment towards housing shows an increasingly negative view’.
"Other market indicators suggest a slower pace of growth such as a reduction in market activity, a moderating trend in auction clearance rates and rising advertised stock levels.
“It appears that housing activity has eased which is attributable to a range of factors including affordability constraints, tighter credit policies, rising mortgage rates and a downturn in consumer sentiment towards housing."
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According to the report the largest year-on-year falls have been in Melbourne (-12.4 percent), Brisbane (-11.1 percent) and Sydney (-4.3 percent) suggesting that housing demand has eased relative to a year ago across the three largest cities.
CoreLogic’s Mortgage Index was tracking 9.3 percent lower than at the same time last year over May.
The number of residential properties advertised for sale has started to edge higher across some cities, with Sydney in particular seeing a surge in newly advertised stock, up 15 percent compared with last year, while total advertised listings are now 6.3 percent higher than a year ago, according to Mr Lawless.
He said higher stock levels should provide prospective buyers with more choice and reduce some of the urgency that has been contributing to rapid selling times and price escalation. 
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"Based on the most recent data from the Australian Bureau of Statistics, investors comprised 48 percent of the value of new mortgage demand (excluding refinances) in March, well above the long term average, but the lowest proportion of mortgage demand since August last year," he said.
“Considering we are yet to see the full effect of the recent round of macroprudential measures flow through, there is a high possibility that investor activity, and consequently housing demand, will slow further during 2017.
“Investor demand will also be dampened due to higher mortgage rates and tighter credit policies as well as the added disincentive of low rental yields and reduced ability to claim depreciation and travel expenses.
“While we are expecting investment activity to slow, the fact is other asset classes aren’t likely to be as attractive as property to investors. Cash and bonds continue to provide low but safe returns and equities remain volatile. Considering the alternatives, we are likely to see property investment remain a popular option,” he said.
"Mortgage rates could edge higher over coming months as lenders accommodate recent macroprudential announcements within their credit policies.
"The funding levy announced in this year’s federal budget could also see higher mortgage rates as lenders potentially pass on some of the associated costs.
“The jury is still out on whether the housing market has peaked, however if it hasn’t, a peak could be just around the corner.
"Based on CoreLogic data, as well as other indicators, it’s fair to say that growth conditions appear to be slowing in Sydney and Melbourne while the performance across other capital city regions remains mixed.
"The housing market remains as diverse as ever and the flow of data over coming months will be critical to get a better understanding of the trends.” 
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Melbourne housing market declined in May, and so did Sydney

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GUEST OBSERVER
The Federal Government should reconsider changes announced in the 2017 Budget to allowable deductions for investment property related to depreciation and travel to inspect property, according to the Real Estate Institute of Australia (REIA). 
Whilst REIA supports the curbing of abuse of deductions, these two initiatives are contrary to the principles of a good tax system and the ATO has existing means for addressing abuses and excesses.
One of these principles is neutrality which in essence means that two tax payers in similar circumstances should be treated the same. These initiatives are contrary to this principle with the budget initiative of not allowing for travel to inspect residential investment property meaning that an investor who owns a commercial investment property can claim deductions for their annual site inspection travel costs but an investor who owns a residential property cannot. 
As the ATO itself points out on its website there are many valid reasons why an owner of investment property would incur costs travelling to a residential rental property. 
Whilst abuses and excesses should be eliminated there are other ways of achieving this through the ATO. The ATO has a myriad of information available to identify questionable claims. Conversely it will adversely impact those tax payers who are not abusing the system. 
Ironically these changes will do nothing to improve affordability in Sydney and Melbourne and indeed it may make it worse as investors in these two cities are discouraged from investing in locations other than their home towns. 
Anecdotal evidence is indicating that as Sydney and Melbourne prices have increased investors are turning to non-metropolitan locations. This regional investment brings employment for a multitude of regional services. This measure will put a brake on this trend. 
Regarding the proposal to restrict depreciation claims to items purchased and installed in the property by the claiming taxpayer, REIA believes, like travel, it doesn’t treat the investor buying a property that is 12 months old the same as one buying a new property. 
The ATO has monitored this area and has the ability to identify abuses and excesses and deal with them. We believe it will distort the market by making properties that are not new less desirable, and the impact on affordability is questionable and may even worsen affordability as existing investors hold on to their property and new investors push up the price of new property which are currently showing signs of easing. 
These changes appear to be more about politics than good policy.
Malcolm Gunning is president of the Real Estate Institute of Australia and can be contacted <a href="https://reia.asn.au" target="_blank">here</a>.
 
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Federal Government should rethink deductibility of investment outgoings, travel: REIA

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SPONSORED POST
It comes as no surprise that Australians are spending more time online than ever before. But as technology becomes even more entrenched in everyday life, how and where are we spending that time?
Recent data shows our web habits are changing rapidly as our devices become faster and smarter, with print readerships now in significant decline and more consumers looking to digital as their first source of news and information. And nowhere is this more apparent than in the commercial property space.
Online explosion
Global information firm Nielsen, in its latest Digital Landscape Report, reveals the average Aussie user spent a whopping 72 hours surfing the web in January. That's a whole three days online per person, with an astounding 19.7 million Australians actively surfing online.
“Consumers are increasingly connected online, both in and out of the home,' says Nielsen consumer insights associate director Kate Kopczynski. “Whether they are grocery shopping, watching sport, studying, commuting to work or connecting with friends — these are no longer purely offline experiences.”
Commercial property at the forefront
Nowhere is the online medium's growing dominance better illustrated than on realcommercial.com.au, which has recorded staggering year-on-year growth in the number of users on phones and tablets. People used a phone 997,000 times to access listings on realcommercial.com.au in March this year – a 144 percent year-on-year increase – while more than 218,000 users accessed realcommercial.com.au on a tablet – a 56 percent jump on March last year.
Mobile phones now make up 42 percent of realcommercial.com.au visits alone, and this stunning growth is set to gain further pace as print readerships continue to fall away.
The way of the future
The pace of Australia's digital transformation is such that the landscape is now barely recognisable from where it was just a few years ago. Today, the latest advancements in the commercial property space are centered on technology that knows buyers and consumers better than they know themselves.
Gone are days of sifting through hundreds of properties in a newspaper or online – now it's less about consumers finding the right listings and more about the right listings finding consumers.
This type of 'artificial intelligence', new to the commercial property industry, is designed to put buyers' and sellers' eyes on more of the properties they're interested in, and will forever redefine what it means to list a commercial property online. Watch this space for two exciting <a href="https://www.realcommercial.com.au" target="_blank">realcommercial.com.au</a> products set to change the way we market commercial property.
For more information, <a href="https://www.realcommercial.com.au" target="_blank">click here</a>. 
ABOUT REALCOMMERCIAL.COM.AU: realcommercial.com.au is the leading website in Australia for commercial property, attracting an average of 1.7 million visitors a month (Source: Nielsen Online Market Intelligence, Total Traffic, average calculation May-July 2015, includes app traffic from Omniture Site Catalyst as Nielsen doesn’t report on app). It is owned and operated by realestate.com.au Pty Ltd, a subsidiary of ASX-listed REA Group Limited ACN 068 349 066 (ASX:REA).
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What is the way of the future for commercial property?

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GUEST OBSERVER
Planning decisions across NSW need to be determined by different independent panels depending on project size.
The current suggestions that development applications should be determined by independent panels will take the politics out of decision making. 
But there need to be different panels depending on the scale of development. Small scale projects should remain with council planners to provide reports to a council independent panel but large projects over $20 million will need a different process.
The over $20 million projects inevitably involve state government agencies like roads and transport so these projects are determined by planning panels. 
In Sydney these are chaired by the Greater Sydney Commission’s District Commissioner. 
Under the current arrangements local council planners prepare a planning report which is provided to the panel to make their decision. 
However, the report often takes a negative position on the proposed development, reflecting the views of local councillors rather than providing an independent, merit based analysis of the proposal. A better process for large projects in
Sydney is to establish six District Planning Offices in each of the Greater Sydney Commission’s districts.
Currently only 1.3 percent of the Development Applications that are processed in Sydney are above $20 million but they are the big projects that represent 47.3 percent of the total construction value of DAs.
 These big projects currently take a massive 271 days on average to be approved and they need specialist planning skills to negotiate with government agencies. 
The six District Planning Offices could second skilled staff from councils in the district into a single office to prepare planning reports. 
The other 98.7 percent of DAs should be processed at the local council level by council planners. Both small and large projects can be assessed by independent panels.
If the NSW Government is going to reform the planning system to make it more independent it should do this in a manner that acknowledges the new governance structure established by the Greater Sydney Commission of six districts. 
A decade or so ago there were very few large precinct wide apartment projects involving hundreds of apartments as well as commercial, retail and open space but now these sophisticated and complex projects are far more common. 
The time is ripe for a more sophisticated planning system that supports larger projects that are ultimately the key to driving Sydney’s housing supply.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI">here</a>.
 
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Keep planning decisions for small projects with council panels and for large projects with regional panels

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<img src="https://counter.theconversation.edu.au/content/77959/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Sydneysiders are concerned that foreign investors, and particularly Chinese real estate investors, are pushing up housing prices, according to survey findings published this month. 
A majority believed foreign investors should not be allowed to buy residential real estate in Sydney.
The federal budget was the government’s latest attempt at navigating a policy solution that supports its pro-foreign investment position while responding to public concern about housing affordability in Australian cities.
China’s government is also searching for a policy solution to restrict the large amount of capital that’s flowing out of the country. But the Chinese crackdown “doesn’t appear to be working”.
We surveyed almost 900 Sydneysiders to investigate their views on foreign real estate investment. The effectiveness of government regulations on foreign investment and investors was a major concern for respondents.
Views on government regulations
The survey obtained the views of people aged over 18 living in the Greater Sydney region. They were asked about housing affordability, foreign investment, the drivers of Sydney housing prices, and perceptions of Chinese investors specifically.
Support for the government’s regulation of foreign investment in housing was weak. Only 17% of respondents thought it was effective.
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Source: Public Perceptions of Foreign and Chinese Real Estate Investment: Intercultural Relations in Global Sydney
Almost 56 percent of participants believed foreign investors should not be allowed to buy residential real estate in Sydney. Only 18 percent believed this should be permitted.
More than 63 percent of participants disagreed that the “government should encourage more foreign investment in greater Sydney’s housing market”. Only 12 percent of participants agreed with this.
These views stand in stark contrast to the government’s geopolitical support for foreign investment in Australia.
Views on foreign investors
There is little fine-grained data about the impacts of foreign capital and investors on specific neighbourhoods and developments in Australian cities. Therefore, we did not set out to compare public attitudes against the limited empirical evidence on the effects of foreign real estate investment in Sydney.
What’s significant about the survey results is that Sydneysiders have strong views on foreign investment, despite the absence of reliable evidence. Participants’ concerns about foreign investors and investment were consistent with their concerns about the government’s foreign investment rules.
Around 63 percent of Sydneysiders identified the Chinese as the heavyweights of foreign investment. This is likely to be accurate, given the concentration of Chinese investment in Sydney and Melbourne.
When presented with the statement “I welcome Chinese foreign investors buying properties in my suburb”, more than 48 percent of participants disagreed.
Other studies, however, have shown the potential for public confusion between domestic Australian-Chinese and international Chinese buyers.
Views on the drivers of housing prices
Respondents were asked to choose up to three drivers of house prices based on their understanding of Sydney’s housing market. By far the most commonly nominated driver of house prices (64 percent of respondents) was foreign investors buying housing.
<a href="https://www.propertyobserver.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.11.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.11.43%20AM.png" alt="">
Source: Public perceptions of foreign and Chinese real estate investment: intercultural relations in Global Sydney 
Roughly one in three survey participants saw low interest rates (37 percent of respondents) and domestic home owners (32 percent) and investors (32 percent) as the drivers of higher housing prices. Local housing analysts generally agree with this.
But more than three in four participants (78 percent) agreed with the statement:
Foreign investment is driving up housing prices in greater Sydney.
When framed inversely, as “Foreign investment has no impact or very small impact on greater Sydney’s housing market”, more than two-thirds of participants (68 percent) disagreed with the statement.
Only 6 percent of our participants disagreed that foreign investment was increasing real estate prices. Around 11 percent agreed that foreign investment had no or minimal impact.
Views on housing supply and affordability
We expected people to report that foreign people and capital are driving up housing prices and making it more difficult for Australians to compete in the housing market. But we were surprised by the findings about Sydneysiders’ views on foreign capital and housing supply.
A strong message from the real estate and property development industries is that foreign investment increases housing supply, which in turn puts downward pressure on prices.
Politicians and lobby groups argue this will help improve housing affordability in major Australian cities. But many housing analysts argue that this supply solution does not stack up for purchases made by either foreign or domestic investors.
It seems that Sydneysiders don’t accept the real estate industry message about foreign investors increasing housing supply, and therefore helping to ease housing affordability pressures.
When asked if “Foreign investment can help increase housing supply in greater Sydney”, 48% of participants disagreed with the statement. Another 25% “neither disagreed or agreed”.
An unresolved policy dilemma
The government’s dilemma is how to manage foreign investment alongside an increasing housing affordability problem in major Australian cities.
This month’s federal budget included a crackdown on foreign investors, but the government still supports foreign real estate investment.
Our survey results support other studies that suggest this pro-foreign investment stance must be accompanied by strategies to protect intercultural community relations. This must happen alongside efforts to improve housing affordability.
 
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank">Dallas Rogers</a> is Senior Lecturer, Faculty of Architecture, Design and Planning, University of Sydney.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
<a href="https://theconversation.com/profiles/alexandra-wong-378393" target="_blank">Alexandra Wong </a>is Engaged Research Fellow, Institute for Culture and Society, Western Sydney University. <a href="https://theconversation.com/profiles/jacqueline-nelson-134741" target="_blank">Jacqueline Nelson</a> is Chancellor's Postdoctoral Research Fellow, University of Technology Sydney.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
All are authors for The Conversation.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"> </a>
 
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Sydneysiders blame foreign investors for high housing prices – survey

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

Joel Robinson

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

[smartcode_project_cta:default project_id=4896]

Above Zero launches Camberwell House in undersupplied Camberwell Junction precinct

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Jonathan Chancellor

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