A full-scale Sky Homes prototype apartment for <a href="https://www.apartments.com.au/new-apartments/zeste-at-the-orchards-norwest-104-fairway-drive-norwest-nsw-2153">Zeste</a> has been opened by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, offering buyers a look at the final residential release within The Orchards masterplan in <a href="https://www.apartments.com.au/developments/norwest-nsw-2153">Norwest</a>.

The prototype launch coincides with buyer demand for larger apartment living continuing across Sydney’s Hills District.

David Lee, Sales Manager, Apartment &amp; Mixed-Use Developments at Sekisui House Australia said it was evident from the preceding four stages at The Orchards that a large number of buyers were local owner occupiers or downsizers specifically looking for oversized apartments with additional living spaces.

“The majority of buyers prefer to touch, feel and physically sight a full-scale completed apartment, rather than imagining the living spaces from floor plans," Lee says.

"The prototype apartment provides greater clarity and buyer confidence. We expect this will increase sales momentum for Zeste and the Sky Homes in particular.”

[smartcode_project:default project_id=150510 project_image_fid=351878]

Positioned within Stage 5’s Zeste project, the Sky Homes form part of the final opportunity to purchase within the award-winning master-planned community, which will ultimately deliver approximately 1,300 apartments.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, Zeste comprises two residential buildings, Essence and Eden, providing 209 apartments surrounded by extensive landscaping, resort-style amenities and community spaces.

Ben Pomroy, Principal at Rothelowman said Zeste explores a reinvention of the traditional house, in the orchard, synthesising the nostalgic story of the orchard homestead of yesteryear with a contemporary aesthetic inspired by the landscape.

“Natural light and ventilation are key to the design, contributing to a higher quality of life at the human scale. Across all Rothelowman projects, our ethos of ‘a generous eye for life’ drives our consideration of the human experience as the central point of focus of our design process.”

Pomroy says a&nbsp;notable design element is the cathedral glass light boxes incorporated in the joinery, inspired by the idea of wandering the orchard homestead with a lantern in hand, something familiar and nostalgic.

"We took this narrative and gave it a contemporary twist that is both beautiful and functional, creating unique features that unify the kitchen and bathrooms design.”

[smartcode_project:default project_id=150510 project_image_fid=351874]

In addition to the two residential buildings, Zeste comprises a single-story community amenity pavilion nestled in the landscape between Essence and Eden.

“The communal pavilion is a distinctive feature designed to foster a deep sense of community, with nature at its heart," Pomroy added.

"Whether it is watching the football grand final or hosting a family BBQ, the pavilion is designed as a place where residents can create memorable moments with friends, family and neighbours.

Since launching Essence, the first building within Zeste, buyer demand has remained strong with more than 30 per cent of residences already sold. Sky Homes have accounted for nearly 40 per cent of all sales achieved since launch.

“Purchasers are responding positively to the oversized layouts, diverse apartment configurations and the vast range of community facilities that will be available at completion,”David Lee noted.

Zeste Sky Homes represent approximately 35 per cent of the entire Stage 5 offering and are available across both Essence and the yet-to-launch Eden building. Prices for the Sky Homes range from $1,135,000 with one car space through to $1,500,000 for two car spaces.

Apartments across the broader Zeste release start from approximately $715,000, with generous floorplans ranging from 59 to 144sqm. Select residences also feature integrated ‘Max’ spaces, designed to function as flexible areas for home offices, children’s playrooms or additional storage.

Zeste also continues Sekisui House Australia’s sustainability partnership with Altogether Group, delivering integrated water, power and data services alongside passive design initiatives including cross-ventilation, landscaping and water features.

Early purchasers are currently able to access a selection of premium upgrade options, with VIP buyers receiving one complimentary upgrade package. A 2.5 per cent deposit is available for a short time.

Sekisui recently commenced its pre-construction phase. They are expecting an early 2028 completion of Zeste.

[smartcode_project_cta:default project_id=150510]

Joel Robinson

Zeste Sky Homes prototype opens as buyer demand surges for oversized apartment living

Having recently announced its entry into the booming Gold Coast new apartment market with <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-surfers-paradise-qld-4217">Aere Chevron Island</a>, developer Martello™ is offering generous stamp duty savings for buyers before June 30.

Martello™ says the incentive creates a more accessible entry into premium apartment living.

"While incentives in property are nothing new, today’s stamp duty contributions arrive at a particularly important moment," the developer says.

"Buyers are not only seeking quality homes and strong locations; they are also looking for smarter financial entry points. Reducing or offsetting stamp duty can represent tens of thousands of dollars in savings - funds that can instead be directed toward furnishing a home, reducing mortgage pressure, or simply providing peace of mind during the transition into ownership."

[smartcode_project:default project_id=143932 project_image_fid=367517]

Aere is one of the more boutique new developments on Chevron Island, with just 33 apartments across 18 storeys on Mawarra Street

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning.

[smartcode_project:default project_id=143932 project_image_fid=368446]

To bring a heightened level of confidence to the project, <a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has already appointed Promax Construction to build the tower. They are expected to start construction in the coming months.

Martello™ says that in any market cycle, confidence matters.

"Buyers who may have been waiting on the sidelines are now reassessing their timing as developers and vendors introduce meaningful incentives designed to support decision-making. For owner-occupiers, it creates an opportunity to secure a premium residence with reduced upfront costs. For investors, it can improve the overall acquisition equation at a time when rental demand remains exceptionally strong across many key markets."

&nbsp;

[smartcode_project:default project_id=143932 project_image_fid=367507]

Aere offers a mix of two-, three-, and four-bedroom apartments, the latter of which occupy half a flor. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

[smartcode_project:default project_id=143932 project_image_fid=367515]

&nbsp;

"What we are seeing now is a market that rewards readiness," Martello added.

"Buyers who are informed, financially prepared, and willing to act decisively are finding opportunities that may not exist once conditions shift again. Incentives such as stamp duty contributions are typically limited in duration and allocation, particularly within tightly held developments where demand remains high.

&nbsp;

Offer available on selected residences at Aere Chevron Island only. Stamp duty contribution provided by the developer at settlement and cannot be exchanged for cash or combined with any other offer unless approved by the developer. Offer valid for contracts signed on or before 30 June 2026. The developer reserves the right to amend or withdraw the offer at any time without notice. Terms and conditions apply.

[smartcode_project_cta:default project_id=143932]

Martello™ offers limited time stamp duty concessions at Aere Chevron Island

New development specialists Lachlan Cottee and Ben Dalgleish have unveiled their new development firm, Dalcott, following several successful projects delivered under the Pyco banner across the region.

Pyco is currently delivering Atelier in nearby West End, Nouveau in Albion, and Onde at Kirra, its debut Gold Coast apartment development in the booming Kirra Beach precinct.

Its first plans under the new Dalcott banner are in South Brisbane, which has been Brisbane’s most enquired-on suburb so far in 2026, while neighbouring West End has also continued to record strong demand.

The developer already has approval for an 11-storey building with 65 apartments on Browning Street, however has recently acquired the adjoining 910 sqm site at the rear, creating a combined 2,746 sqm footprint that will now allow for two 11-storey buildings with 92 large-scale apartments, a configuration Cottee and Dalgleish have focused on across their local portfolio.

The project, known as <a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a>, will comprise 84 three-bedroom apartments, 16 of which will include an additional multipurpose room, and just eight two-bedroom residences.

DAH Architecture has led the design of Marrone, which will include more than 330 sqm of communal open space and rooftop recreation areas.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="7eeea1a0-be23-47c8-80fb-3409428241fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-21%20at%209.36.38%E2%80%AFAM.png?VersionId=pZW7o.tB7oJovYCRIFSxrZbMr6QdpHy." />

Cottee told Apartments.com.au the project reflects a gap in Brisbane’s apartment market.

"It is an area we know well with Atelier, another development which focuses on large apartments, less than 300 metres away," Cottee says.

"There's limited supply of large-scale apartments of this size in a single building in Brisbane. The majority of apartments in this category are in considerably smaller buildings, on the water, and are only really accessible to the deepest of pockets.

"Marrone will offer the same size and scale, but with greater amenity and at a much more realistic price point for the market."

The architectural approach reflects the continued evolution of South Brisbane’s higher-density residential character. Renders show a heavily landscaped façade composition with curved balconies, textured brickwork, deep recesses, and integrated planting aimed at softening the scale of the twin towers.

The revised proposal builds on the design narrative established in the original scheme. In the earlier submission, Gatehouse Architects described the project as a continuation of Browning Street’s long-term urban transformation.

“The proposal echoes the spirit of early developments like Watson Terrace (built in 1888), by contributing to the growth and diversification of the local population,” the original design statement noted.

“Just as Watson Terrace played a role in the area’s early gentrification, this development continues that trajectory, delivering contemporary housing that addresses the evolving needs of South Brisbane’s expanding community.”

The updated proposal, designed by DAH Architecture, spans a 2,746 sqm corner site with frontages to Browning and O’Connell Streets. The development will comprise two 11-storey residential buildings delivering 92 apartments, replacing the previously proposed 65-unit scheme.

The apartment mix has shifted further toward larger owner-occupier residences, continuing Dalcott’s established strategy across South East Queensland. The plans include 68 three-bedroom apartments, 16 three-bedroom apartments with multipurpose rooms, and eight two-bedroom residences. Two basement levels will provide 142 car spaces, alongside bicycle parking for 115 bikes.

The larger Marrone proposal arrives amid sustained redevelopment momentum across South Brisbane and the wider Kurilpa precinct, where developers are increasingly targeting owner-occupiers seeking larger apartments close to the CBD, cultural precincts, and riverfront amenity.

The site sits within walking distance of South Bank, the Queensland Performing Arts Centre, Brisbane State High School, and several major transport connections, while nearby Fish Lane and West End continue to drive demand for higher-end inner-city apartments.

Cottee is expecting Marrone to launch around August with Realm Projects.

Exclusive: Dalcott doubles down on South Brisbane with twin-tower Marrone plans

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<a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.

Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.

The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.
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<img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" />

The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.

The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.

At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.

The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.

DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.

“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.

DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.

“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.

“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”

The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.

&nbsp;

&nbsp;

Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

ASX-listed developer Stockland is continuing to ramp up its return to the apartment market.

In late 2024, <a href="https://www.apartments.com.au/developers/stockland">Stockland</a> announced it would resume apartment development after a 13-year absence, launching with Stanton Place in Rosebery, a 144-apartment project now under construction.

Last week, the developer unveiled plans alongside the NSW Government for a <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-nsw-gov-unveils-plans-for-3-300-home-waterloo-south-renewal">3,300-home precinct in Waterloo</a>.

Now, Stockland has shifted its focus in St Leonards, lodging a State Significant Development Application (SSDA) to replace an approved 42-storey office tower with a 52-storey residential development comprising more than 500 apartments.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="8979095e-9072-432b-a7da-58b180cf994d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.36%E2%80%AFPM.png?VersionId=_jbRXYOafCSHjwsz.yQCNIymMyCj8zkF" />

An existing 14-storey commercial office building would make way for a 264.5-metre tower designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>. The project would deliver 538 apartments, including 30 affordable housing units, alongside retail and commercial uses at the podium and ground plane.

It will rise from&nbsp;<a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">601 Pacific Highway</a>, a prominent 2,844 sqm triangular site adjoining Mitchell Plaza and fronting Pacific Highway.

The development is being pursued under the Housing Delivery Authority pathway after Stockland’s proposal was declared State Significant Development earlier this year.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="67f40f35-0458-47ab-80c0-a4e98a31838a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%201.png?VersionId=rxXe3njr.auuGDuiR0k42uI8Zr4K.gZA" />

The apartment mix includes 217 one-bedroom apartments, 191 two-bedroom apartments, 122 three-bedroom apartments, and eight four-bedroom residences. Six basement levels would accommodate 300 car spaces, bicycle parking, loading areas, and building services.

Bates Smart said the project has been shaped around a series of urban design principles intended to improve the pedestrian experience and respond to the evolving character of St Leonards.

“With a boundary length of almost 75m along Pacific Highway and 70m along Atchison Street to the north, complying simply with the LEP envelope and required setbacks would result in a very wide tower form on the skyline,” the architects noted in the Design Report.

“We propose breaking the tower form into two defined volumes rather than a singular form.”

The podium has similarly been articulated into separate forms to reduce perceived bulk and create a finer-grain response to Mitchell Plaza and Atchison Street. Retail tenancies would activate the lower levels, while commercial space is proposed across the podium floors.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="90149990-0551-40d2-bd48-14b69a015d12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%202.png?VersionId=MJC2KIIWFvU9FPGr3IVq09gkRN_gX3m8" />

The design also places a significant emphasis on communal amenity and environmental performance. Residents would have access to landscaped terraces, wellness areas, flexible workspaces, and rooftop communal facilities, while the all-electric building is targeting an average 7-star NatHERS rating. Bates Smart said the project incorporates passive design measures including natural ventilation, integrated shading, and lightweight façade systems.

Planning documents note the site is around 350 metres from St Leonards Station and 400 metres from the metro entrance, placing it within one of Sydney’s most connected emerging residential precincts.

The project arrives amid a wave of large-scale redevelopment proposals reshaping the St Leonards and Crows Nest skyline. Several nearby sites have recently been approved, lodged, or declared under the Housing Delivery Authority pathway as the precinct absorbs significant residential density uplift tied to transit-oriented development policies.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="7805bd7c-dfd7-4b35-8e15-ec4a8bf8e61b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.26%E2%80%AFPM.png?VersionId=iY12K2m2bQ6EeDnshqfZC9rbLx_oEugP" />

Bates Smart’s report describes St Leonards as transitioning away from its historical commercial identity toward a more mixed-use urban environment.

“In recent years, the character of St Leonards has started to evolve, driven by new development trends along the Pacific Highway corridor,” the report said.

“These projects have increasingly focused on residential accommodation, marking a shift from its purely commercial roots.”

Sekisui House Australia is currently selling Waterstone down near Newlands Park, in a pocket being branded "St Leonards South." Hyecorp recently completed Audrey in the same pocket.

First look: Stockland plans 52-storey, 538-apartment St Leonards tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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A preliminary auction clearance rate of 71.3% was recorded across the combined capital cities this week, having increased from 69.9% last week, the lowest clearance rate since the end of March. 
Auction volumes were high, with a total of 2,820 auctions held over the week, up from 2,565 over the previous week. In comparison, at the same time last year, auction volumes were lower due to the AFL Grand Final in Melbourne; meaning only 1,369 auctions took place across the combined capital cities.
<a href="/images/2015/09/28/20150928-capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-capital-city.jpg" alt="" width="692" height="523">
The preliminary auction clearance rate across Melbourne was 73.3% this week, down from the previous week’s final result of 73.7%, making this week the fourth lowest clearance rate for the year. This week, Melbourne was host to 1,197 auctions, higher than the 1,127 held last week and significantly higher than a year ago when there were only 112 Melbourne auctions held over the week. Across Melbourne’s individual sub-regions, the strongest preliminary clearance rate this week was across the Outer East region at 81.8%, followed by the Inner South region where the preliminary clearance rate was 80%.
<a href="/images/2015/09/28/20150928-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-Melbourne.jpg" alt="" width="674" height="448">
 
There were 1,193 Sydney homes taken to auction this week and a preliminary clearance rate of 74.2% across 974 results. Over the previous week, Sydney recorded the lowest final auction clearance rate for the year (70.7%) and 1,041 auctions were held across the city. At the same time last year, 76.9% of the 933 homes taken to auction recorded a successful result. This week, the strongest sub-region for clearance rates across Sydney was the Eastern Suburbs, with 89.8% of the reported results clearing at auction.
<a href="/images/2015/09/28/20150928-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-Sydney.jpg" alt="" width="653" height="439">
 
Brisbane’s preliminary clearance rate was 58.9%this week, compared to 50% last week and 48.9%at the same time last year. Across Brisbane, a total of 199 auctions were held this week which is higher than both last week (143) and last year (179). Across the Gold Coast, 54.3% of the reported auctions have sold.
<a href="/images/2015/09/28/20150928-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-Brisbane.jpg" alt="" width="794" height="532">
 
Adelaide hosted 127 auctions this week and across the 80 reported results, CoreLogic RP Data’s preliminary auction clearance rate is 68.8%. Last week, Adelaide’s clearance rate was 71.4% across the 99 auctions held, while at the same time last year 65.6% of the 73 homes taken to auction were sold.
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<img src="/images/2015/09/28/20150928-Adelaide.jpg" alt="" width="651" height="440">
 
For Perth, the number of homes taken to auction this week was 25, less than last week (31) and higher than last year (6). Meanwhile, Perth’s clearance rate of 36.4% this week was lower than last week (38.5%) and higher than last year (33.3%).
Across Canberra 58 homes were taken to auction this week and the preliminary clearance rate across 36 reported auctions was 50%.
There were 21 auctions across Tasmania this week, with 3 successful results out of the 18 reported.
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smiller-vwPjRHTkST

Preliminary clearance rate bouncing back above 70%: CoreLogic RP Data's Shana Miller

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The convenience, neighbourhood and large format retail outlets lead the activity in the Brisbane retail market, according to Herron Todd White.
Herron Todd White's September Month in Review noted an insatiable demand from investors for centres in the sub $10 million category and demand for Coles or Woolworths in neighbourhood shopping centres in the $10 million to $30 million range.
"Demand is being driven by a search for yield at a time when share markets are volatile and interest rates are at a record low and as a consequence, yields of 6% to 7% which were previously the domain of premium quality assets, are now becoming commonplace for even some second tier assets," it said. 
"There is, however, a significant risk that the market may be overshooting for such second tier centres.
"At the neighbourhood end of the spectrum, recent sales of two new Woolworths anchored centres at Logan Village and Ormeau showed yields of 6.7% and 6.5% respectively, showing that there is very strong demand and tight yields for such centres with secure long term anchors. An interesting feature of such sales is that some percentage rent thresholds are set at levels which are very unlikely to be achieved for many years."
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mick.cee-iDmgDDAmu8

Convenience, neighbourhood, large format retail outlets lead Brisbane activity

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The Australian Bureau of Statistics (ABS) released demographic data for the March 2015 quarter earlier today. The data showed that despite a quarterly bounce in population growth, the rate of growth continues to trend lower.
The national population increased by 1.35% over the 12 months to March 2015 which was the lowest annual rate of growth in nine years. Although growth slowed it should still be noted that Australia’s population increased by 315,952 persons over the past year. Although population growth has slowed it remains well above the long term average of 256,801 per annum.
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Over the March 2015 quarter, the national population increased by 93,942 persons, substantially higher than what was recorded over the December 2014 quarter when the nationally population recorded an increase of 64,010 persons.  Over the 12 months to March 2015, the national population increased by 315,952 persons which is the lowest annual increase in population since the 12 month period ending June 2011 when the nation recorded population growth of 308,274 persons.
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At a national level there are two components of population growth, natural increase (births minus deaths) and net overseas migration. Each of these measures recorded a bounce over the past quarter however, both components continue to trend lower on an annual basis. Over the 12 months to March 2015 natural increase was recorded at 142,898 persons and net overseas migration was recorded at 173,054. Natural increase was -9.7% lower over the year while net overseas migration was -16.0% lower, its largest annual fall since March 2011.  
While the decrease in the rate of natural increase implies a sharp rise in deaths or slowdown in births, it is important that the ABS has noted that there are problems with the preliminary natural increase estimates due to a lag in registering births in both NSW and Vic.  We are likely to an upwards correction to this data over the coming quarters which will lift the rate of population growth.
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Across the states and territories the rate of annual population growth is lower compared to the same time a year ago across the board. Although population growth is slowing, the sharpest slowdown in population growth is being felt in WA and NT. In WA the rate of population growth has slowed to 1.4% over the year to March 2015 from 3.5% two years earlier.  Similarly, annual population growth in the NT was 3.0% two years ago and the latest data shows it at just 0.2% over the past year.
Looking at the components of population growth we will ignore natural increase at this juncture because the ABS have highlighted some issues with the data for NSW and Vic. The two other drivers of population growth at a state and territory level are overseas migration and interstate migration.  NSW and Vic are the major benefactors of net overseas migration to Australia while Vic and Qld are the only benefactors of interstate migration.
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Over the 12 months to March 2015, net overseas migration to Australia was recorded at 173,054 persons. More than two thirds of net overseas migration flowed to NSW (38.9%) and Vic (31.6%). If you add in Qld (12.1%), the three most populous states accounted for 82.6% of net overseas migration. Although net overseas migration is trending lower, the impact of the end of the mining boom is very clear. In March 2013, annual net overseas migration was recorded at 41,745 persons in Qld, 53,834 persons in WA and 5,173 persons in NT. Over the past year, annual net overseas migration had slowed to 20,857 persons in Qld, 15,383 persons in WA and 1,041 persons in NT.  
Conversely in NSW where mining is a smaller part of the overall economy, net overseas migration has actually increased from 63,661 persons in March 2013 to 67,272 persons in March 2015. Similarly in Vic net overseas migration has been much stronger over the past 2 years, falling slightly from 55,562 persons to 54,745 persons. Of course while most of the overseas migration is coming to NSW and Vic, most of that is flowing into Sydney and Melbourne fuelling more demand for housing and helping to explain why home value growth in those two cities has been so strong.
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At a national level net interstate migration cancels itself out and does not add to population growth however, at a state level it can greatly impact on population growth. Over the past 12 months, only Vic (9,774 persons) and Qld (6,195 persons) have seen a positive inflow of residents from other states. In fact, net interstate migration into Vic is currently at its strongest level on record. Qld has recorded a slight rebound in net interstate migration however, it continues to hover around its lowest level on record. For the length of this data series (since 1981) NSW has consistently lost residents to other states and that remains the case losing 6,195 residents over the year. 
The outflow of residents from NSW is hovering at around record low levels. WA has typically been a benefactor of interstate migration however, it lost a net -1,269 residents last year; its greatest loss since June 2003. Again we can see the impact of the slowing of the resources sector. In March 2013, net interstate migration was recorded at a higher 9,026 persons in Qld and 9,691 persons in WA. Conversely, net interstate migration at that time was recorded at -15,513 persons in NSW and 3,454 persons in Vic.
The trends in overseas and interstate migration in particular show that the population growth tide has turned away from the mining states and is now firmly focussed on NSW and Vic which have relatively little mining sector exposure. These states are also creating more employment opportunities and are subsequently attracting both people migrating from overseas and interstate. Higher population growth means more demand for housing, which is one of the drivers pushing dwelling values higher in Sydney and Melbourne.
The more up-to-date overseas arrivals and departures data from the ABS indicates that permanent and long-term arrivals into Australia have continued to trend lower since March 2015. This indicates that net overseas migration is expected to continue to trend lower over the coming quarters. It is also likely to result in more of these migrants wanting to move to NSW and Vic due to the fact that these are the states where more jobs are being created.
This is of course despite the fact that the two capital cities in these two states recording home value growth which is well in excess of growth elsewhere.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.
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Population growth slumps to its slowest rate in nine years: Cameron Kusher

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Overseas brands and luxury labels are driving demand for high-end retail space in Melbourne's CBD, using the influence of a prestige address to bolster the appeal of flagship outlets to potential shoppers, according to Herron Todd White. 
Heron Todd White's September Month in Review mentioned companies such as Apple and Asics apply this approach to choosing real estate, forcing other retailers to compete through real estate.
"With the recent and continuing insurgence of new foreign retailers such as Sephora and Brooks Brothers, many of the existing high profile retailers are looking to differentiate themselves and update their images by developing flagship stores which serve as a showcase for the brand," the review noted.
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"A recent trend in Melbourne retailing is the investment in unconventional retail locations such as airports, universities and hospitals. The second half of 2015 will see an additional 34 new retailers opening at Melbourne Tullamarine Airport as part of the $400 million redevelopment of Terminal 4. 
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"Notable retailers include Country Road, which will introduce its first full line airport store as well as a second Australian store for Desigual, the Spanish clothing retailer."
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Flagship retail outlets seeking prestige property: Herron Todd White

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Australia's four most populous states accounted for a thumping 93.4% of Australia's population growth over the year to Q1 2015, with New South Wales (its total population increasing to 7,597,000), Victoria (5,915,000), Queensland (4,767,000) and Western Australia (2,587,000) being the four states in question. You could more or less chuck a soggy beach towel over the rest. 
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The greatest gains in headcount across the most recent 12 month reporting period were seen in New South Wales (+101,200), Victoria (+97,500) and Queensland (+61,100), and as we've already seen that the recent "births" figures are almost certainly materially <a href="https://petewargent.blogspot.co.uk/2015/09/population-growth-surprise" target="_blank">understated</a> for the two most populous states. 
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<div>Population growth rates have slowed dramatically in the resources states and territories, including in Queensland (+1.3 per cent), and particularly in Western Australia (+1.4 per cent). Meanwhile population growth in the Northern Territory has dried up almost completely (+0.2 per cent), and with net interstate migration away from the Top End reaching its most rapid level on record (-3,400) population 'growth' is set to turn negative in due course. </div>
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<div>Population growth has also slowed in another state which is suffering from a "brain drain" - South Australia - where net interstate migration of negative -3,000 has helped to pull the rate of population growth down to just +0.8 per cent, though it still needs to slow further. The 'Festival State' has not created a single full time job on a net basis since 2007 and the result has been a horribly increasing rate of unemployment.</div>
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<div>Components of growth</div>
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<div>Net overseas migration remains very strong in New South Wales (+67,000) and Victoria (+55,000), but has clearly slowed in the resources states as the mining construction boom begins to fade into the rear view mirror.</div>
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<div>The most interesting trend for me over the last few years has been to note just how few people have been choosing to leave Sydney and Melbourne for cheaper or warmer climes (refer to the net interstate migration chart below), instead opting to stay put for the relative security of their capital city employment.</div>
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<div>That said, I do know more than a few people - including myself, in fact - who have recently decided to relocate from Sydney to Brisbane.</div>
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<div>Brisbane is not only comparatively inexpensive, it also has a warmer climate and is considerably less crowded - and thus if the jobs market is creating the requisite employment it should be a no-brainer from my perspective!</div>
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<div>The data below shows that the trickle of Sydneysiders moving to Queensland has only been a trickle through this cycle to date, and most certainly not a flood.</div>
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<div>That said, net interstate migration for the March quarter into Queensland (+1,300) was plenty stronger than we saw in the prior corresponding period (+700) taking annual net interstate migration into the Sunshine State back up to +6,200 from its recent nadir.</div>
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<div>Totting that little lot up we can see in the chart below that population growth has slowed significantly in Western Australia (+35,300) and Queensland (+61,100), and has slowed further in South Australia (+13,900).</div>
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<div>On the other hand annual population growth remains supremely strong in New South Wales (+101,200) and Victoria (+97,500) despite the under-reporting of births over the past six months. Housing supply
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<div>On an obliquely related note, although I can't remember exactly where I read it, somewhere this week was a piece which suggested that the construction of 10,000 apartments over four years at Sydney's Green Square would form part of a "tsunami" of oversupply in Sydney.</div>
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<div>I'm not sure if this was some kind of gee-up, but as you can see the in the figures above with the state population having increased by close to +400,000 over the past four years alone...I dunno, but I reckon someone's having a giraffe.</div>
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<div>Whatever the case, New South Wales has an existing stock of close to <a href="https://petewargent.blogspot.co.uk/2015/09/nsw-dwelling-stock-value-explodes" target="_blank">3 million dwellings</a>, and to my knowledge there has not been any recorded example of such a tiny fraction of additional construction having a material impact on a capital city property market. Like London, Sydney is a city which is increasingly constrained in terms of its land supply in desirable locations, and is a city which is more or less permanently in a position of requiring new supply. Now granted we're presently constructing proportionately far too many of those "shoebox" type developments - no arguments there - but as the Greater Sydney population continues to mushroom over time any such localised examples of oversupply will only ever be temporary in nature. </div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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State population trends: Pete Wargent

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Retail leasing has opened for Perth's newest shopping centre, Mandurah Central, with the 6,000sqm complex already signing up Woolworths as a flagship tenant.
A further two tenants have already been secured, with three others under offer. The retail outlet ha a total of 15 speciality retail outlets.
CBRE retail leasing negotiator Adrian Morabito said the centre, which is located on Exchequer Avenue directly east of the major intersection of Mandurah Road and Mandjoogoordup Drive, is due for completion by mid-2016. 
“There are five projects in WA valued at well in excess of $1.5bn including Mandurah Central, the Federation owned Mandurah Forum and Halls Head Centro, with three of the developments comprising a gross floor area in excess of 100,000sqm, plus mixed use office and residential,” he said.
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Perth's Mandurah Central scores Woolworths as tenant

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The Sydney city centre continues to boast the lowest office vacancy rate of any CBD in Australia with strong demand coupled with limited net supply lowering vacancies to just 6.3%, says Ray White Commercial.
Ray White commercial office leasing director, Anthony Harris, said the total Sydney CBD office market has delivered tremendous results with low vacancies and high tenant demand translating into improved rental growth.
“Currently the total vacancy rate is 6.3% including a small sublease factor of 0.4%,” Mr Harris said.
“The Sydney CBD office market currently has 311,678 sqm vacant, which has shown a strong absorption rate of 60,405 sqm for the six months to July, 2015. This is the third consecutive six month period of net absorption of more than 50,000 sqm.
“Coupled with net supply over the last 18 months of just 5,485 sqm, this highlights the rebound in white collar employment and business confidence. Technology continues to be a driving force for new tenancies within the CBD, while finance and professional services have also increased their footprint on the city.
“The greatest demand has come from the Core and Midtown precincts which yielded a 36,926 sqm and 18,061 sqm respectively increase in occupied stock over the last six months.”
But Mr Harris said high supply projections over the next few years could dampen the current positive results.
“While the net supply position has aided in the reduction of the overall vacancy rate, this trend is about to change with the anticipated completion of 670,000 sqm of new office stock over the next three years,” he said.
“Although withdrawal of stock will continue for refurbishment, this supply will subsequently come back on line with only limited stock being removed completely from the office count.
“The most anticipated completions are International Towers with the first completion (Tower 2) due in early 2016 (87,500 sqm) with the remainder of the office properties on this site expected to be completed by mid-2017, adding 179,000 sqm.”
Ray White commercial office leasing director, Jeremy Piggin, said the Sydney CBD has been in a period of stability in rents since 2010.
“Over the last two years there was a slight pick-up in the face rents,” he said.
“The prime market has shown a greater increase given the tight vacancy environment and for the first time since the GFC period incentives have started to show greater downward momentum, now averaging in the 25-30 per cent range.
“This has had a positive effect on the effective rental position which has recorded growth over the past year of 9.4 per cent in the prime market.
“However, for this end of the market there is a greater emphasis by businesses to provide greater wellbeing features for their staff. Those properties which offer access to better quality services will continue to be highly sought after.”
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Sydney CBD office vacancies still lowest in Australia

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It's hot, I'm sweating and in the middle of cutting a very good deal. 
This time it's not with a vendor or real estate agent  - I'm not buying a development site - but the negotiation is fierce and taking place with a Thai business woman who owns the stall where I'm buying a much wanted ornament.
I'm on holiday in Thailand with the kids and a trip to the local markets has reminded me of how important it is to negotiate in the correct way to get the best deal. I'm also trying to train up my sons in the practice of negotiation. 
Here everything is up for negotiation. I'm using my proven formula that works not only when I am shopping in Thailand but  also when I'm making offers on development sites and negotiating with builder's, consultants and tradespeople. 
I'd set my sights on a pair of wooden, silver plated elephant ornaments (I know, customs will have a field day with these!).
I'd shopped around and knew what I wanted to pay (completed my due diligence).  I'd asked a few questions about how her day was, what her name is and if this may be her first 'morning' sale. The last question is key as if so, it will bring her luck for the rest of the day (so I'd gathered intelligence and established a relationship). 
Rather than make an outlandishly low offer which I know would insult the Thai sales lady, I politely make my offer with a wide smile on my face but with serious eyes. The offer is a bit under half of what she's quoted. I back it up with a few good reasons. "I saw this one for sale down there for less" or "this one is not as big as the one they are selling there".  After some fun interchanges and much tapping of numbers on an old calculator back and forth, we came to a mutually suitable price and everyone was happy. I have my silver plated elephants and she has a good price. 
I use similar techniques when making offers on properties. At Property Bloom we study the market to establish what the property should be worth, we look at its last sale price and find several comparable property sales to back up our offer.  
Understanding the unique benefits of a property will help you put a value on it. For us, the value lies mostly in the land, it's location and what's under it, not what's on top of it. 
Property Bloom has established relationships with agents and they know our clients are serious buyers that won't muck them around. Our clients have their finance preapprovals in place and can move quickly to secure a property if the numbers stack up and we know it will make a great development site. We'll ask questions about why the property is selling and what the vendor expectations are.  
But there in one major negotiation tactic that always comes into play. It's making sure there is something in the deal for everyone. 
If the vendor is making something from selling and our client is set to make something much more from developing, and if there's a bit for the agent or the person who has referred us, then we can cut a good deal. 
Usually these types of negotiations involve much less  sweat than the ones done in Thailand.
As I start to leave the stall hugging my silver plated elephants, I hear the Thai lady sing 'kob koon Ka' (thank you) as she waves me good bye and adds,' you come back soon?' confirming that she'd like to do more business with me. The same goes for our property deals, we'll always be back for more if the numbers stack up and there's something in it for everyone. 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>. 
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Don't sweat the big deal: Jo Chivers

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<div>The ABS will release its Household Finance &amp; Wealth data series for Q2 2015.</div>
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<div>I am expecting to see aggregate net Australian household wealth well over +55% higher than its Q3 2009 nadir, which would be representative of a remarkable recovery.</div>
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<div>That said, in the period since 30 June there has been something of a king hit to household balance sheets with the ASX 200 index (XJO) having nosedived below 5,000 after dropping by a further 105.5 points or 2% today.</div>
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<div>As recently as April the market had been threatening to surge above 6,000.</div>
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<div>Yet as things stand the "XJO 6000" caps have been gently stowed away (back into cold storage with the "FTSE 7000" scarves!) and the bourse is instead shaping to return to the same levels we saw a decade ago.</div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Expect the ABS to show recovery figures: Pete Wargent

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Logan City Council has released an expressions of interest campaign for the development of land comprising six separate adjoining land parcels on the Logan River next to the Pacific Motorway.
The 43 hectare lot has an approved master plan in place and some existing development approvals and will eventually become a new precinct within the City of Logan.
Expressions of interest are being sought through Savills.
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