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The 2019 March quarter ANZ-Property Council survey shows that confidence in Australia’s housing sector has fallen further than in 2018 and is now at its lowest level since the survey commenced in 2011.
It is not surprising given that many indicators are around their worst levels in many years.
"Housing prices, credit, auction results, days on market and vendor discounts are all weak," the report noted adding there is little sign of improvement.
"The ANZ-Property Council survey is consistent with these other indicators and suggests we are set for an extended period of weakness in the housing sector," it noted.
<img src="https://www.urban.com.au/images/2019/1/10/ANZ-Prop%20Counc%20G1.JPG" alt="">
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NSW's property industry confidence has dropped to one of the lowest in the nation, according to the latest ANZ/Property Council Survey.
The largest decline in confidence came in Queensland.
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Property Council NSW Executive Director Jane Fitzgerald said sentiment is down.
"With a state and federal election just around the corner, I don’t think we will see it rebound in the short term despite stronger results in some sectors," she said.
“The industry is facing a lot of uncertainty and change, particularly over the past twelve months.
"We have seen the introduction of Special Infrastructure Contributions, increasing 7.11 levies, the changing of key policies such as the Medium Density Housing Code, the updating of Local Environmental Plans, and the review of approaches to planning in areas such as Ryde – that’s a lot of change for an industry."
“With a flat residential market, there is a real risk that this moving feast of policy changes will have a detrimental effect on economic growth and jobs. The 400,000 people who work in the property industry in NSW rely on a healthy industry for their economic wellbeing," she concluded.
David Plank, the ANZ Head of Australian Economics, said the survey gives a softer reading on the health of Australia’s property sector.
"Survey respondents report that the availability of finance will worsen further over the coming year, which is a central feature of our housing outlook.
<img src="https://www.urban.com.au/images/2019/1/10/ANZ-Prop%20Counc%20G2.JPG" alt="">
"In turn, respondents also expect housing prices and construction activity will continue to ease.
"We think prices will fall through to 2020, and expect to see declines <a href="/expert-insights/buying/anz-revise-forecast-upwards-to-20-percent-house-price-declines-in-sydney-and-melbourne">around 15–20% peak to trough</a> for Sydney and Melbourne.
"We also think the decline in housing construction will accelerate through 2019 and 2020, as the current backlog of work is gradually completed.
"The survey also suggests that firms expect the next interest rate movement to be higher, though the conviction in this expectation has dropped from the last survey.
"With risks around global trade tension and questions over the sustainability of domestic household spending, we think any RBA move is still some time off.
"Overall, though, the forward work schedule is solid and employment intentions are holding up.
"But clearly sentiment in the property sector is being challenged by a number of significant headwinds.," Plank said.
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j.ballantyne1990-6AQqhLzZaK

Little sign of optimism in the residential sector as confidence falls to lowest levels: ANZ/Property Council

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House rents in Sydney have declined annually for the first time in more than 12 years and are now back to 2016 levels, according to the latest research released by Domain.
They found that house rents declined 1.8 per cent over the quarter and the year to $540 per week, while rental yields increased 0.9 per cent over the quarter and 4.2 per cent over the year to 3.24 per cent. 
Unit rents declined 2.8 per cent over the quarter to $530 per week and rental yields increased 0.1 per cent over the quarter and 1.7 per cent over the year to 3.87 per cent. 
For the first time since 2004 unit rents have fallen for two consecutive quarters.
The cost of renting a unit is now at 2017 levels.
For the first time in 11 years the cost of renting a house in Canberra is now higher than Sydney, according to the latest data from Domain.
The difference in weekly house rents between Canberra and Sydney has jumped to $20.
Canberra house rents increased 1.8 per cent over the quarter and 3.7 per cent over the year to $560 per week, while rental yields improved 1.4 per cent over the quarter and 0.6 per cent over the year to 4.36 per cent. 
Unit rents increased 3.3 per cent over the quarter and 8.1 per cent over the year to $465 per week.
<img src="https://www.urban.com.au/images/2019/1/9/Domain%20Rent%20Syd.JPG" alt=""> Domain research analyst, Dr Nicola Powell said available rental stock continued to increased over the year, with development completions adding to the pipeline of supply.
"We expect rental supply to increase further in 2019, putting tenants in the driver’s seat. Tenants will find greater bargaining power as rising supply keeps pressure on rents, providing strong grounds to negotiate lease terms. Landlords will be keen to retain good tenants as leases expire, with incentives and rental discounts a realistic prospect.” “Gross yields are nearing a two-year high, suggesting rental prices are holding firmer than property values. Despite improved yields, we expect many investors will look to other capital city markets in 2019, with the prospect of short-term capital gains unlikely.
"This could serve to tighten rental supply over the long term. However, slowing interstate and overseas migration could offset this impact,” she concluded.
Melbourne house and unit rental prices continue to rise, with both achieving new record highs, according to the latest research from Domain.
Domain found, Melbourne house rents increased 2.3 per cent over the quarter and 3.5 per cent over the year to $440 per week, while rental yields improved 1.4 per cent over the quarter and 4.4 per cent over the year to 3.20 per cent. 
Available Brisbane rental stock has been sliding since the end of 2017, and is now at a three and a half year low, according to the latest research from Domain.
House rents increased 2.5 per cent over the quarter and year to $410 per week, while rental yields declined 0.3 per cent over the quarter but increased 1 per cent over the year to 4.62 per cent. 
Brisbane unit rents increased 1.3 per cent over the quarter and 2.7 per cent over the year to $380 per week.
However, rental yields declined 0.2 per cent over the quarter but improved 3.7 per cent over the year to 5.12 per cent.
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“If rental stock keeps shrinking, greater competition between tenants will emerge, putting further upward pressure on rental prices, a marked change given the prolonged period of stability," Domain research analyst, Dr Nicola Powell said.
"House and unit rents are already displaying a higher pace of growth relative to last year, with houses recording the first positive movement and units the strongest gain on an annual basis in roughly three years.”
“Population growth in the sunshine state has been driven in fairly equal measure by natural increases, interstate migration and overseas migration. Queensland is the only state or territory to have such balance, which has helped to support a broad-based demand for housing. Job prospects, an improving economy and greater housing affordability continues to lure residents from NSW and Victoria.”
“Given property prices have fallen in Sydney and Melbourne, investors have already started to find Brisbane a more attractive option as they seek better yields and growth potential. Investors will be further enticed north as rental prices and gross yields continue to improve,” she concluded.
<img src="https://www.urban.com.au/images/2019/1/9/Domain%20Rent%20Bris.JPG" alt="">
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Sydney no longer the nation’s most expensive capital city to rent a house: Domain

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The NSW Valuer General has released the latest official land values.
Residential land values increased by 4.4% over the year.
There had been a 14.1 per cent rise in the previous year.
The land values are for the value of the land only, as at 1 July 2018.
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One of the biggest increase was in Ku-Ring-Gai local government area where residential land values increased by 22.5% with very strong increases in land values for mixed use properties along the Pacific Highway (45.8%).
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Residential land values increased in the Lane Cove local government area by 17.4%, due to demand for housing near public transport, main roads and the business centres of North Sydney, Chatswood and Macquarie Park.
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Acting Valuer General Michael Parker said the land values are made by independent contract valuers following the analysis of over 46,000 sales. 
Residential land values in the Sydney Central region recorded an increase of 2.1%, the so-called Sydney East region increased by 3.2% and the Sydney West region had a 3.8% increase.
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Decreases were recorded in the Georges River suburbs (-3.3%).
Rural NSW land values increased overall by 14.3% due to continued demand and firm commodity prices. 
Most locations recorded strong increases despite the continuing dry conditions, the department noted.
The land values reflect the property market at 1 July 2018. Land values do not include the value of a home or other structures.
Mr Parker encouraged the public to visit valuergeneral.nsw.gov.au for more information on land values and the valuation system.
“The latest land values for all properties in NSW are available on our website along withinformation on trends, medians and typical land values for each local government area,” Mr Parker said.
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The Sydney East region saw its strongest increases in the local government areas of North Sydney and Mosman, which showed 14.4% and 11.2% increases respectively.
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The Blue Mountains local government area had an increase of 16.6%. The Hills Shire (0.7%) and Fairfield (1.5%) local government areas had steady residential land values.
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Ku-Ring-Gai and Lane Cove show strongest gains as NSW residential land values up 4.4% over the year

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National residential listings declined 9.2% in December 2018 to 328,203 from 361,619 in November 2018, according to SQM Research.
It noted that the stock reduction in all cities was expected during the festive and summer break, however, the decline in Sydney, Melbourne and Canberra were larger than expected.
Residential listings were down on November in Sydney 17.7%, Melbourne 17.2% and Canberra 15.5%.
Hobart recorded the smallest monthly decline at 5.8%.
But compared to a year earlier, national listings were up 2.8%, with Sydney, Melbourne and Canberra’s year-on-year listings up the most - Melbourne up 25.4%, Canberra 19.3% and Sydney up 16.5%.
Hobart on the other hand experienced a yearly decline of 5.8%, with residential property listings dropping from 2,426 in December 2017 to 2,286 in December 2018.
Adelaide and Darwin also experienced yearly declines of sale listings at 4.1% and 2.9%, respectively.
<img src="https://www.urban.com.au/images/2019/1/8/SQM%20Table%201.JPG" alt="">
(Source: SQM Research)
Louis Christopher, managing director of SQM Research, said listings in December had some large falls however, let us keep in mind there was a surge in listings recorded in November and that December traditionally records a large fall in properties for sale as this is a holiday period.
“Our view remains in place that prices will likely fall in Sydney and Melbourne over the course of 2019.
"We note however that Melbourne house asking prices increased during the month by 0.3% as did unit asking prices in Sydney 0.7%.
"I also note that national listings are now only up 2.8% for the year, indicating that regional centres may well have outperformed the major capital cities in 2018.”
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Asking prices were a different story as capital city asking prices rose 0.4% for units to $571,600 but declined 0.9% for houses to $924,500, for the month to 31 December 2018.
The largest monthly rise came from Canberra, where house asking prices rose 2.5%. However, Unit asking prices in Canberra declined by 1.1%.
Sydney recorded the highest increase in Unit asking prices of 0.7% but the largest decline in House asking prices of 1.6% over the month.
Year-on-year asking price gains were the strongest in Canberra for both houses and units, with house prices rising by 3.4% and Units by 7.9%.
Year-on-year prices fell in Sydney, Darwin and Perth for both houses and units.
Brisbane and Hobart recorded increases in house asking prices but unit prices declined year-on-year.
This was reversed in Adelaide and Melbourne which recorded decreases in house prices but increases in unit asking prices over the year.
<img src="https://www.urban.com.au/images/2019/1/8/SQM%20Table%202.JPG" alt="">
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December 2018 national residential listings sat higher than December 2017: SQM Research

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The Bank of Queensland has become the first bank to officially hike home loan rates out of cycle in 2019.
The decision affects a range of BOQ variable rate loans including their Economy Variable Home Loan which is increasing by 0.11 per cent for both new and existing customers.
Other loans are increasing by up to 0.18 per cent, effective from January 11th.
That increases the price of monthly repayments on a $500,000 dollar loan by $32 and over the life of the loan it will cost an additional $11,369
RateCity.com.au research director Sally Tindall said the bank has cited cost of funding pressures and intense competition in term deposits as the reasons for the hike.
“These cost of funding pressures are affecting most banks so it’s likely we’ll see other lenders follow suit in 2019,” she said"
“A lot of household budgets are feeling the pinch after Christmas. While most families will be able to absorb this hike, some may struggle to come up with the extra cash,” she concluded.
Bank of Queensland is the ninth largest mortgage lender in Australia, according to APRA.
<img src="https://www.urban.com.au/images/2019/1/8/BOQ%20hike.JPG" alt="">
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Bank of Queensland hikes home loan rates for 2019

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South Australia’s housing market is forecast to remain relatively subdued with slow but steady growth, according to the latest report from Moody's Analytics.
Moody’s Analytics have forecast housing values will pick up slightly in 2019, while apartment values will likely be weak off the back of a slow 2018.
<img src="https://www.urban.com.au/images/2019/1/8/Adelaide%201.JPG" alt="">
Greater Adelaide is expected to see sustained housing growth of 2.6% in 2019 and 3.6% in 2020, a small improvement on 2018, while apartments are forecast to see subdued growth as in the trend of previous years.
The Central and Hills region of Adelaide is forecast to see housing growth of 2.5% in 2019 in line with greater Adelaide and slightly less growth in 2020, while apartments are expected to stabilise after making a small loss last year of -0.8%.
Adelaide North is forecast to have greater growth in 2020 than in 2019 reaching 4.6% an improvement on its previous performance, while apartments are forecast to continue a small downward trend in 2019 and 2020.
The Southern Adelaide region is forecast to have the strongest housing growth in Adelaide growing 3.7% in 2019 and 4.9% in 2020, while apartments are forecast to have slow growth in 2019 of 1.4% and the strongest apartment growth of any SA region in 2020 at 3.9%.
Western Adelaide is forecast to see small growth in housing prices in 2019 and 2020 of 2% and 2.9% respectively, while apartments are expected to have a strong 2019 with growth of 3% lower than their 2018 growth of 4.5% before slumping to a loss in of 2.9% in 2020.
The rest of SA is expected to be continued a trend of home price weakness in 2019 with a loss of -0.6% forecast by Moody's Analytics, however in 2020 a recovery has been predicted with growth pegged at 4.2%.
Barossa, Yorke, and Mid North SA are predicted to experience weakening house prices in 2019 before experiencing a pick up in 2020 of 3.4%, after experiencing price growth in 2017 and 2018.
The Outback region of SA is forecast to see price falls of -10.2 throughout 2019 continuing a trend of price falls before bouncing back in 2020 to grow 5.6%.
South East SA is forecast to have consistent price growth in 2019 (3.9%) and 2020 (4.1%) after seeing a reduction of -0.6% last year. 
The report authors note, "although low population growth has dampened home values, a recovery in employment growth, coupled with increased incomes over the next few years, could result in pockets of South Australia outperforming the rest of the state."
The dwelling market in Adelaide-North is likely to remain mixed with house values expected to accelerate while apartment values remain subdued.
Overall, population growth has supported home values; nearly 50% of the total population gain in Adelaide has been in Adelaide-North in 2016-2017.
However population growth is expected to moderate.
<img src="https://www.urban.com.au/images/2019/1/8/Adelaide%203.JPG" alt="">
The report said, "the Adelaide-Central and Hills region enjoyed a strong run in 2017, but values have slowed in 2018, and a slow recovery is likely in 2019."
"Moreover, a strong runup in apartment supply since 2014 has prompted apartment values to fall in 2018, and only a small recovery is likely in 2019 and 2020."
"A higher supply—with around 1.4 apartments approved for every home approved since 2015—will limit apartment value gains in the region," the report stated.
<img src="https://www.urban.com.au/images/2019/1/8/Adelaide%202.JPG" alt="">
Moody's Analytics forecast that slow population and income growth will weigh on the South Australian housing market.
They have also predicted that high rental values will keep the Adelaide housing market stable and prevent a sharp collapse seen elsewhere nationwide.
Notably, agriculture commodity prices are expected to remain subdued, while the Australian dollar is unlikely to fall further.
These external developments will limit income gains across the Barossa-Yorke-Mid North and South Australia-Outback regions in the coming years.
Consequently it is forecast the housing market there is will correct further in 2019 before a recovery takes place in 2020.
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Adelaide's housing market forecast to see slow but steady growth: Moody's Analytics

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A home in Gunn in the Northern Territory has been sold by its mortgagee in possession for a loss of $105,000.
The home at <a href="https://www.realestate.com.au/sold/property-house-nt-gunn-107564066" target="_blank">17 Bryant Terrace, Gunn</a>, the sold for $340,000, a substantial drop from its 2011 sale price of $445,000.
Located a minutes drive from the Palmerston CBD, the home features air conditioning and security screens throughout.
The home is also within 2 km of a number of schools and has parking for two cars.
Set on 480 sqm the home was listed as a rental as recently as June of this year at $460 per week.
The median price for a house in <a href="/developments/gunn-nt-0832">Gunn</a> is $453,000, according to CoreLogic data, which put the annual change in median house price over the past ten years as 1.4%.
In November of 2017 another mortgagee sale took place in Gunn, <a href="https://www.realestate.com.au/sold/property-house-nt-gunn-126051690" target="_blank">7 Bett Bett Court</a>.
Set on 790 sqm the three bedroom two bathroom house sold for $440,000.
The sale also lost just over $100,000 dollars on its previously sale price as it went for $555,000 in 2010.
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Gunn, NT home sold by mortgagee for $100,000 loss

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Queensland’s 2019 housing market is expected to vary across the state, largely because of its diverse economy, according to Moody's Analytics latest report.
The report noted that the Brisbane area has seen its strongest growth since the lull in 2012, thanks mostly to improved activity in the services sector.
The outlook for Queensland's housing markets is for either flat or mildly positive returns over the next two years.
<img src="https://www.urban.com.au/images/2019/1/7/Moodys%20Graph%203.JPG" alt="">
The authors noted, "although Brisbane home values rose steadily through 2017 and 2018, the apartment market has been more subdued."
"A runup in supply over the past few years has capped gains in the apartment market."
"However, supply has tightened since its peak; the latest data suggest apartment building approvals have fallen from their 2013 levels."
"Therefore, a reduced apartment glut will likely usher in a broad-based recovery in apartment values from 2019 onward," according to the report authors.
<img src="https://www.urban.com.au/images/2019/1/8/Brisbane%20apts%203.JPG" alt="">
The contrast between home and apartment values is most apparent in Brisbane Inner City (comprising South Brisbane, Ascot and Grange).
Moody’s Analytics forecasts home values to underperform throughout the forecast period, while apartment values are expected to accelerate.
This is a reversal of trend from the past few years; home values had risen more than 30% since mid-2012, while apartment values had risen only around 5%.
 <img src="https://www.urban.com.au/images/2019/1/8/Brisbane%20apts%204.JPG" alt="">
(Source: Moody's Analytics, CoreLogic)
Apartments in Greater Brisbane are forecast to grow 2.8 percent overall in 2019 with every region seeing growth, ranging from 2.7% to 7.6%, after falling -3.1 and -0.9 percent in prior years.
Moreton Bay, Logan and Ipswich are projected by Moody's Analytics to be the three largest growth areas for apartments with a forecast growth over 2019 and 2020 ranging from 13.5% in Ipswich to 18.6% in Moreton Bay - North over the next two year. 
Brisbane North and South as well as the Inner City Brisbane region are expected to see medium to high growth with Inner City region expecting growth of 7.3%.
However Brisbane East and the Inner City region are expected to see a slowdown in 2020 with both areas still forecast to grow.
The second housing sector comprising more “lifestyle” areas, including Sunshine Coast, Wide Bay and Cairns, are expected to perform better over the forecast period, as income growth remains robust and the degree of supply increase is not as great as in areas of Brisbane.
Lifestyle areas are also buoyed by overseas tourist demand, which has remained strong on the back of the falling Australian dollar.
Moody’s Analytics forecasts home values to underperform throughout the forecast period, while apartment values are expected to accelerate.
<img src="https://www.urban.com.au/images/2019/1/7/Moodys%20Graph%204.JPG" alt="">
The third housing market region in Queensland comprises commodity-producing areas.
These include Central Queensland, Mackay-Isaac-Whitsunday, and Darling Downs-Maranoa.
The report authors note, "values have declined significantly here over the past few years, partly as a result of the end of the mining boom."
"The recent uptick in commodity prices is unlikely to provide a tailwind, with housing values expected to correct further through 2019."
"A lack of job opportunities will subdue population growth, lowering equilibrium home values," the authors concluded.
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Brisbane apartment market forecast to see stronger price growth in 2019: Moody's Analytics

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A mortgagee has sold a Charters Towers City, Qld house for just over half of it's original purchase price.
Located at <a href="https://www.realestate.com.au/sold/property-house-qld-charters+towers+city-129763434" target="_blank">4 Vulture Street, Charters Towers City</a> the home sold for $70,000 in December last year.
The one bedroom one bathroom home features a timber veranda.
Set on a fenced 1,083 sqm block the home was previously sold for $135,000 in 2013 and $117,500 in 2010.
Situated within close proximity to parks and a supermarket the house is within 1 km of the town centre.
The median price for a home in <a href="/developments/charters-towers-city-qld-4820">Charters Towers City</a> is $130,000, according to CoreLogic data, with a -3.9% decline in annual year on year median price over the past 10 years.
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The northern Queensland town is 134 kilometres inland from Townsville on the Flinders Highway.
In 2016 the population was around 8,000 people.
Early last year a Charters Towers City property, <a href="/expert-insights/buying/charters-towers-city-queensland-mortgagee-property-listed-for-50-000">listed for sale with $50,000 hopes</a>, fetched $66,500.
It was listed for mortgagee sale by Kym Whelan from Geaney's Real Estate.
It had last traded at $183,000 in 2009, and at $74,000 in 2006 and $56,000 in 2004.
<a href="https://www.realestate.com.au/property-house-qld-charters+towers+city-127434326" target="_blank">The 3 Regent Street house</a> came with three bedrooms, two sheds and an outdoor entertaining area on 941 square metres.
It had a $52,000 official land value in 2015.
At the time CoreLogic's median house price sat <a href="/developments/charters-towers-city-qld-4820">$121,000</a>.
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Charters Towers City, Qld home sold for half price by mortgagee

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The Sydney and Melbourne housing markets will keep leading the property price decline, after sustained weakness in 2018, according to the latest report from Moody's Analytics.
The CoreLogic-Moody’s Analytics report estimates that the Sydney housing market declined by 5.2% in 2018, and a further 3.3% drop is forecast for 2019. This follows the 12.8% rise in 2017.
However, apartment values are set to recover modestly after a 2.9% decrease in 2018.
House values in Melbourne are set for a steeper correction; they are forecast to fall by 6% in 2019 on the back of declines in Inner Melbourne areas, compared with a 0.1% fall in 2018.
Melbourne’s apartment market is expected to have slowed in 2018, followed by sharper slowdown in 2019.
<img src="https://www.urban.com.au/images/2019/1/7/Moodys%20Graph%201.JPG" alt="">
The report said house values across Brisbane are forecast to gain a mild 1.2% in 2019, with strength in West Brisbane and Inner Brisbane offsetting declines in South Brisbane.
"The worst is likely over for Brisbane’s apartment market."
"Apartment values are forecast to recover by 2.8% in 2019, followed by sharper growth of 6.5% in 2020," the report added.
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Although commodity prices are stabilising, house values in Perth will likely decline 2.8% in 2019, followed by a recovery in 2020, thanks to population growth.
Meanwhile, Adelaide’s housing market will continue its stable run: House values in Adelaide are forecast to rise 2.6% in 2019, after a 1.9% expected gain in 2018.
Hobart’s housing market is likely at the end of its bull run; home values are forecast to decelerate to 2.7% in 2019, followed by a 2% fall in 2020.
Similarly, the Hobart apartment market will likely decelerate from 11.7% growth in 2018 to 1.9% in 2019, the report noted.
<img src="https://www.urban.com.au/images/2019/1/7/Moodys%20Graph%202.JPG" alt="">
The report authors, said "Australia’s housing market has continued its entrenched cooling trend in the final months of 2018."
"The decline has been sharper in home values over apartment values: Home values have fallen more than 4.5% from their peak late last year, while apartment values are down 3.3%," they concluded. 
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Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics

While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.

Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."

[smartcode_project:default project_id=134323 project_image_fid=367129]

Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.

Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.

[smartcode_project:default project_id=134323 project_image_fid=6402]

The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.

[smartcode_project:default project_id=134323 project_image_fid=6383]

The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.

Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

Joel Robinson

ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.

The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.

The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.

Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.

Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.

The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" />

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.

"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."

"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."

The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" />

DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.

Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.

"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."

The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.

If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.

<h2>Project Snapshot</h2>

Project: Honeysuckle Garden Redevelopment

Address: 494-516 Military Road, Mosman

Developer: Abadeen and Phoenix Property Investors

Architect: DKO Architecture

Lead Architect: Matthew Ritchard

Value: $230 million

Residences: 100 apartments

Key features:

<ul>
	<li>
	Ground-floor retail
	</li>
	<li>
	Rooftop wellness precinct
	</li>
	<li>
	Gym and sauna
	</li>
	<li>
	Outdoor entertaining and BBQ areas
	</li>
	<li>
	Landscaped communal gardens
	</li>
	<li>
	Multi-use recreation court
	</li>
	<li>
	Retained mature blue gum tree
	</li>
	<li>
	Connecting with Country design process
	</li>
	<li>
	Harbour, CBD and Balmoral views from upper-level apartments
	</li>
</ul>

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

The wave of apartment proposals sweeping through Mosman shows no signs of slowing, with another major residential development lodged through the NSW Government's State Significant Development pathway.

Developer First Quadrant Properties, which recently completed Willoughby Grounds and has several projects in planning across the North Shore, has unveiled plans for <a href="https://www.apartments.com.au/new-apartments/cove-on-ourimbah-40-56-ourimbah-road-mosman-nsw-2088">Cove on Ourimbah</a>, a 63-apartment development on Ourimbah Road, adding to the growing pipeline of projects reshaping one of Sydney's most tightly held harbour suburbs.

The proposal would consolidate nine properties at 40-56 Ourimbah Road into a part eight, part nine-storey apartment building, continuing the momentum created by the NSW Government's accelerated planning pathways that have seen several significant developments emerge across Mosman over the past 12 months.

Designed by Doroch Architects, the project would deliver 63 apartments, resident wellness facilities including a gym, pool and sauna, landscaped communal spaces and basement parking, while using recessed upper levels, generous setbacks and extensive planting to reduce the perceived scale of the building.

<img alt="First look: First Quadrant Properties eyes nine-storey Mosman apartment project under State Significant pathway" data-entity-type="file" data-entity-uuid="32ee68e4-141e-4a10-8f83-48e961a5e71e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ourimbah%20Road%2C%20Mosman%20a.png?VersionId=CUeILFc6APlwXPc.iplElbxHvREKwjig" />

Doroch Architects said the building had been designed to reinforce Mosman's established character.

"The building's aesthetic is grounded in the existing residential character of Ourimbah Road and the broader Mosman context," the architect noted in the planning documents submitted to the NSW Government.

The design adopts a contemporary material palette of natural stone, textured concrete and brown concave metal cladding, complemented by integrated planters and deep balconies. The podium incorporates softened curved concrete forms, while increased setbacks have been provided adjacent to the heritage-listed property at 60 Ourimbah Road to create a more sympathetic transition.

The site sits around 330 metres from Mosman Town Centre, placing it within the NSW Government's Low and Mid-Rise Housing policy area, where increased residential density is being encouraged close to shops, transport and services.

The proposal follows a string of major apartment projects lodged or declared State Significant in Mosman in recent months, including Abadeen's 100-apartment Honeysuckle Garden redevelopment on Military Road and several other developments across Awaba Street, Redan Street and Muston Street from the likes of Time &amp; Place, HELM and Prosker Property.

&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Time &amp; Place to take on Mosman apartment market</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-abadeen-plans-100-apartments-on-former-honeysuckle-garden-site-in-mosman">First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman</a>

&nbsp;

First look: Another major apartment proposal signals Mosman's development boom

A new State Significant Development Application (SSDA) could reshape a prominent vacant site in Gosford's CBD, with Ming Tian Real Property proposing a mixed-use precinct that combines affordable housing, retail activation and a new public plaza.

The proposal for 43-45 Beane Street and 2 Keevers Lane would deliver a <a href="https://www.apartments.com.au/new-apartments/43-45-beane-street-gosford-nsw-2250">two-building development</a> comprising a 26-storey residential tower and a five-storey affordable housing building above ground-floor commercial space. A key focus of the project is the delivery of dedicated affordable housing alongside new public domain improvements designed to transform Keevers Lane into a more active urban destination.

Designed by <a href="https://www.apartments.com.au/architects/tony-owen-partners">Tony Owen Partners</a>, the development would provide 130 apartments, including 20 affordable housing dwellings managed by a registered community housing provider for at least 15 years. The market housing component comprises 110 apartments across a mix of one, two and three-bedroom residences, while the affordable housing includes six one-bedroom, 13 two-bedroom and one three-bedroom apartment. The proposal also incorporates 416 sqm of ground-floor retail, three basement levels accommodating 140 car spaces, 42 bicycle spaces, communal open space and extensive landscaping.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="9b858791-9060-4ee7-9178-44cb9e640a85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20b_0.png?VersionId=_jbY0mqPEs7.jBZxozR7d6T4u85FoPmb" />

The affordable housing component has been distributed across both buildings, with four apartments located within the main tower and a dedicated five-storey building delivering a further 16 affordable homes. The project also includes 12 adaptable apartments and 24 dwellings designed to Silver Level Liveable Housing Guidelines.

The architectural design draws inspiration from Indigenous storytelling.

"The design is based on the indigenous motif of the Rainbow Serpent," Tony Owen Partners said in the Design Verification Statement.

"The Rainbow Serpent is a traditional totem of coastal eastern Australia. It represents natural forces, creation, change, and rebirth and is often associated with bodies of water. This motif can be seen in the undulation of the balconies rising on the building," Tony Owen Partners said in the Design Verification Statement.

Beyond the residential offering, the proposal seeks to revitalise the surrounding public realm, particularly Keevers Lane.

"The ground floor streetscape includes a commercial and dining precinct which will significantly improve the amenity of the area. This strategy transforms a currently inhospitable laneway into a thriving centre of urban renewal and day and night time activation to compliment the new adjoining UNC facilities," the architects said.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="36b0ca6b-af15-424c-81db-9f3049c07b0c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20podium.png?VersionId=QCAv7bCitrg3zIGZUHI2z_HR8qVfKbp1" />

The Environmental Impact Statement notes that the project aims to "improve the provision of diverse housing options within Gosford City Centre, enhancing the mixed-use precinct by delivering high quality residential development, whilst concurrently providing a diverse range of housing choices through the provision of affordable housing, which is in growing need within the Gosford City Centre."

The site occupies approximately 2,070 sqm in the Gosford city centre, around 250 metres from Gosford Railway Station and within walking distance of Gosford Hospital, Mann Street's retail precinct and the University of Newcastle's Gosford campus currently under construction. The currently vacant site previously received approval for a lower-scale residential development, with the new proposal leveraging the NSW Government's in-fill affordable housing pathway to increase density while introducing dedicated affordable housing.

Staff reporter

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