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EXPERT INSIGHT

This year will deliver a nationwide property boom. I have few doubts about that and my confidence is strengthened by the number of commentators who are now forecasting a year of strong growth. It’s not often we see all kinds of analysts agreeing about what will happen with property prices.

It’s even rarer for economists to publish optimistic predictions. Even the major bank economists are bullish about real estate this year. Pretty much everyone with a public view about the direction of real estate markets – economists, media columnists, various attention-seekers and genuine real estate analysts – have been unanimous in tipping substantial price growth in 2021.

Perhaps the only point of difference among the pundits is how much. But many of them are expecting double-digit increases in median prices. It’s not so long ago that major media, fueled by pessimistic economists, was strident in declaring an impending collapse in property values. The housing market proved the naysayers wrong: 2020 was the best possible advertisement for residential property as an asset class, as most markets delivered growth in defiance of the pandemic.

The latest figures from CoreLogic suggest that all capital cities except Melbourne had price growth in 2020, with Canberra, Adelaide, Darwin and Hobart all rising between 6% and 9%. Sydney (up 4%), Brisbane (4.6%) and Perth (2%) all recorded moderate growth in their house prices, in a year when most of the nation’s cities defied the pandemic and its negative economic impacts. That’s a commendable performance but the capital cities were out-done by many of the regional markets.

House prices rose 12% in Regional Tasmania (compared to 7.7% in Hobart), 8.8% in Regional NSW (compared to 4% in Sydney), 7.8% in Regional South Australia (compared to 6% in Adelaide), 7.3% in Regional Queensland (compared to 4.6% in Brisbane) and 5.5% in Regional Victoria (compared to a 2% decline in Melbourne). Unit markets also did well in the regions, with price increases headed by South Australia (up 11.7%) and Tasmania (up 10.5%). NSW, Victoria and Queensland all recorded unit price rises between 5.5% and 6.5% in the regional areas.

The only regional market to record price decline was Western Australia, which dropped both for houses and for units. These figures show that the momentum for a national property boom is already building and indeed that some markets are already surging strongly. The infrastructure-led economic recovery planned by federal and state government will add to that impetus. Few things generate momentum in residential property markets like big spending on new infrastructure and politicians have shown they are willing to put their budgets into debt to fast-track projects that are shovel-ready or close to it. Another big factor likely to put upward pressure on prices is the level of vacancy rates around Australia.

Outside of the inner-city areas, vacancies are very low in most locations and in some they are so low it represents a rental market crisis. The upward pressure on rentals is considerable, particularly when prospective tenants are offering more than the asking price to secure properties ahead of the competition.

A further factor to consider is that the growth achieved in 2020 occurred without much involvement from investors. First-home buyers and other owner-occupiers have dominated – but there are signs this is changing. I expect investors – who, as a cohort, tend to react to market trends rather than lead them – to be a lot more prominent this year and that will further turbocharge property prices. Outside of those inner-city areas, it’s a great time to be a landlord.

Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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A factor to consider is that the growth achieved in 2020 occurred without much involvement from investors, first-home buyers and other owner-occupiers have dominated 

terryryder

2021 will see a nationwide Australian property boom: Hotspotting's Terry Ryder

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EXPERT OBSERVER

The greatest fiction generated in mainstream media in 2020 is that prices have risen because we have record low interest rates.

In March/April economists and others were lining up to predict a collapse in residential property values because of the pandemic impact. Some forecast price decline as large as 20% to 30%.

Four or five months later, the usual suspects were lining up again to “revise” their forecasts. They were forced to admit they got it wrong and were now predicting much more bullish outcomes for dwelling values. Some of the bank economists are now expecting boom-level price growth in 2021.

Asked to explain why prices have held up so well, the standard answer is “record low interest rates” - a response that shows how little they know about house markets. We entered the pandemic period with record low interest rates and very little has changed.

Those who have recently explained everything real estate with the cheap cost of finance include AMP Capital chief economist Shane Oliver, Domain analyst Nicola Powell, Reserve Bank governor Philip Lowe, ABC business editor Ian Verrender, NAB chief economist Alan Oster and economists speaking on behalf of ANZ, Westpac and the CBA.

The “record low interest rates” rationale is the go-to response for pontificators who have limited knowledge of residential property dynamics.

When Sydney and Melbourne were having their price booms from 2013 to 2017, the standard explanation from economists was “record low interest rates”. They were unable to explain why prices were falling at the same time in Perth and Darwin, and stagnating in other capital cities like Brisbane and Adelaide.

Record low interest rates were still very much in place when the two biggest cities experienced their post-boom correction, with prices falling in 2018 and the first half of 2019.

When markets generally picked up in the second half of 2019, economists again rolled out their interest-rates arguments, ignoring the impact of the multiple other events that jointly had a huge impact, including the Federal Election result, the relaxation of lending rules by APRA and the announcement of tax cuts.

So now we have most markets rising, regardless of the pandemic-induced short recession, and record-low interest rates are again the standard answer. But little had changed with mortgage rates - the RBA has shaved a miniscule 0.15 of a percentage point off the official cash rate, but this hasn’t had any noticeable impact on the mortgage rates that typical home owners and investors are paying.

And it beggars belief that Australian consumers have only recently noticed that finance is cheap. It’s been the case for years.

I would also point out that the last two times Australia had genuine nationwide property booms - in the late 1980s and in the early year of this century - on both occasions mortgage rates were high and rising.

History shows we’re more likely to have a genuine national boom in periods when rates are high, because it means the economy is booming, consumers are spending and the people who pull the levers are trying to dampen things down (and usually not succeeding) by lifting the official interest rate.

In the late 1980s and during the 2001-02-03 boom, they kept putting up interest rates and the property booms raged on.

Right now interest rates are low because the economy is struggling - a time when people are less likely to be bullish and spending big on real estate.

So, given that interest rates are clearly not an acceptable explanation, why have property markets held up so well in 2020?

As with all things in real estate, there are many different factors working in unison.

The national economy was been stronger than predicted. The recession was muted and lasted only one quarter. Unemployment did not go into double digits as economists predicted. More importantly, many local economies have been strong through the pandemic period.

With the exception of Melbourne, most of the nation got the virus under control early and it’s been busy as usual, apart from the closure of state borders.

Many Australians have sought the safety and solidity of bricks and mortar. Various surveys have shown that consumers have rated residential real estate highly as an asset class in 2020 – and it has not disappointed them.

Government stimulus measures and support from lenders has made a big difference. Support was not switched off at the end of September (economists got that prediction wrong as well) and continues to have an impact.

First-home buyers have been highly active, boosted by record levels of government aid.

Vacancy rates are ultra-low in most locations, putting upward pressure on rents and prices.

The Exodus to Affordable Lifestyle, the most powerful trend estate rend this century, is driving strong demand in regional markets and the smaller capital cities.

Expats returning home to the relative safety of Australia have more than compensated for the absence of overseas migrants coming into the country.

The combination of all those factors have allowed housing markets to resist the negative forces of the pandemic and to not only survive but thrive in 2020.

It’s put residential real estate in a strong position heading into the New Year.

Stand by for the infrastructure-led property boom in 2021.

Terry Ryder is the founder of hotspotting.com.au

ryder@hotspotting.com.au

twitter.com/hotspotting
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The last two times Australia had genuine nationwide property booms - in the late 1980s and in the early year of this century - on both occasions mortgage rates were high and rising



Record low interest rates not the reason the housing market didn't collapse: Hotspotting's Terry Ryder

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EXPERT OBSERVER 
Regional NSW is showing nation-leading strength, with a record number of towns and suburbs recording growth in their sales activity in our new quarterly survey.

A total of 116 locations have rising markets, easily the highest number in the six years that Hotspotting has been conducting its quarterly surveys. The previous best were 70 growth locations in a mid-2018 survey and 77 late in 2019.

The results show evidence of the Exodus to Affordable Lifestyle trend which is sweeping the nation, with growth markets right across the state but most noticeably in locations close to Sydney.

The No.1 market, by a considerable margin, is the Central Coast. As the closest sea change market to Sydney, this market is getting significant uplift from the Exodus trend. There are 17 suburbs with rising sales activity and we expect strong price growth in the near future.

South of Sydney, the Wollongong, Shoalhaven and Shellharbour LGA jointly have 10 suburbs with upwardly-mobile markets.

Hill change markets within striking distance of Sydney are also rising, including the Blue Mountains (where four locations have rising sales activity) and the Southern Highlands (with five towns in the Wingecarribee LGA having upward sales momentum – refer below for data on price growth).

The Queanbeyan-Palerang LGA just outside Canberra is also thriving – it has five locations with rising sales activity. Nearby Goulburn is also a growth market.

The data for Newcastle is somewhat muted – it has only five growth suburbs, which is a small number for a city of its size in the current circumstances.

But neighbouring municipalities are doing better: Lake Macquarie has six growth suburbs, while Hunter Valley LGAs like Maitland, Cessnock, Singleton and Muswellbrook jointly have seven growth locations – with the Maitland LGA the standout.

The growth momentum has now spread further afield, with strength evident in markets like Orange, Bathurst, Dubbo, Armidale, Tamworth, Coffs Harbour, Port Macquarie, Albury and Wagga Wagga.

The strategic regional cities of Tamworth and Wagga Wagga both have five suburbs with rising sales activity.

In the Eurobodalla LGA on the state’s south coast, there is growth impetus in Malua Bay, Moruya and Tuross Head.

In terms of price performance, Regional NSW has done well in the past 12 months but in particular in the latest quarter.

Two-thirds of locations across Regional NSW have recorded growth in their median house prices in the past 12 months, but eight out ten have recorded uplift in the most recent quarter.

This indicates that the regional areas of the state have had an uplift in price performance recently, with the Exodus to Affordable Lifestyle a major influence.

The outcomes in annual terms include 67% of locations with apartment markets recording increases in their median unit prices and 65% of locations also having increases in median house prices.

Multiple locations have delivered double-digit increases in their median house prices over the past 12 months.

The Southern Highlands region south of Sydney is a standout. Median prices are up strongly in Bowral (23%), Burradoo (13%) and Mittagong (10%), boosted by the trend of people relocating from the big cities to lifestyle locations.

Parts of the Wollongong market are showing signs of benefiting from the trend, with Bulli up 13% and Thirroul up 18%. The Central Coast is a natural beneficiary also and several suburbs have delivered strong rises, including Umina Beach (10%) and Wyong (15%).

Ballina is also doing well, with annual median price increases in the suburbs of Ballina (15%), East Ballina (10%) and West Ballina (12%). Further north, locations in Tweed Shire are rising, including Kingscliff (12%) and Murwillumbah (10%).

In the far south of the state, the Wagga Wagga region continues to be a strongly-performing market, with median house prices rising in Lake Albert (11%), Mt Austin (11%) and Wagga Wagga (14%).

Growth markets are sprinkled throughout the regional areas of the state and across different price ranges. They include Caves Beach (up 11% to $870,000), Corowa (up 11% to $265,000), Inverell (up 11% to $290,000), Kyogle (up 12% to $300,000), Maitland (up 15% to $460,000), Malua Bay (up 24% to $640,000), South Grafton (up 12% to $280,000), Windradyne (up 11% to $460,000), Yass (up 18% to $500,000) and Young (up 11% to $310,000).

Terry Ryder is the founder of hotspotting.com.au 
ryder@hotspotting.com.au 
twitter.com/hotspotting 
 
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Regional NSW property market showing nation-leading strength: Hotspotting's Terry Ryder

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Terry Ryder

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