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.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

Darwin

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Darwin continues to show relatively soft housing market outcomes, according to CoreLogic head of research Tim Lawless.
National housing market conditions continued to improve through June, although on a quarterly basis, every capital city housing market recorded a drop in value.
The largest falls over the past three months were recorded in Darwin (-3.6%).
The Reserve Bank of Australia delivered its decision today from Darwin, the first time it's done that in 50 years.
Click <a href="https://www.propertyobserver.com.au/images/2019/7/2/JLL%20CVC%20June%20Darwin%202.JPG" target="_blank">here</a> to enlarge.
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Nationally, rents remained unchanged over the month after tracking 0.3% higher over the June quarter and 0.4% higher over the financial year.
The largest annual fall in rents over the year can be seen in Darwin (-4.7%).
According to JLL, a population outflow following the wind-down of several mining investment projects has left the NT economy and property market weak.
JLL's Capital Value Cycle chart placed both Darwin Apartments and Houses in the Dowturn section, with Darwin houses appearing further along in the segment, nearing the Bottoming category (pictured below).
Their data shows that sales for both detached houses (-1.9%) and attached dwellings (-4.3%) have lagged over the year to March.
Click <a href="https://www.propertyobserver.com.au/images/2019/7/2/JLL%20CVC%20June%20Darwin.JPG" target="_blank">here</a> to enlarge.
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Darwin property downturn returns: CoreLogic & JLL

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Darwin based developer Gwelo Developments has put its Coles and Kmart anchored Coolalinga Central shopping centre to the market.
They stated that it offers investors an estimated $7.17 million net annual income fully leased.  
According to CBRE Director Retail Investments, Justin Dowers, who is managing the sale with Mark Wizel and Trent Weir, the near new Stuart Highway centre could fetch more than $90 million.  
“This is a near brand new centre with a blue chip tenancy profile on the NT’s busiest road and one that offers investors exceptional income growth potential as well as genuine development upside.  
Located 30 kilometres south-east of the Darwin CBD, the 20,034 sqm (GLAR) enclosed sub-regional is anchored by a Coles supermarket (3,990 sqm) and Kmart (5,629 sqm) with five mini-majors including iFitness, Chemist Warehouse, Mad Harry’s and The Salvation Army.
There are 37 speciality stores, ten kiosks, an ATM and nine pad sites including McDonalds, Subway, Hungry Jacks and KFC. 
The 77,100 square metre site includes parking for 1240 vehicles with 776 undercroft spaces enhancing the centre’s wet season appeal. 
Mr Wizel said, “the centre has a 400 metre frontage to the Northern Territory’s busiest arterial –more than 17,150 vehicles pass the centre each day - and serves a trade currently estimated at 63,450 people with a conservative population growth forecast of 1.7 per cent per annum and an average household income 57 per cent above the Australian average. "
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/19/Coolalinga%20Central%20Gd.jpg" alt="">
An additional 16,500 sqm of vacant land that had been allocated for Stage 3 of the shopping centre development provided a further investment aspect that added to the centres’ long term investment credentials. 
Mr Dowers said the centre, built in 2017, also offered significant depreciation benefits, with minimal capital expenditure requirements. 
The property is for sale by international expressions of interest closing August 1st 2019.
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Near new Darwin shopping centre offered to market

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Savills Australia have successfully managed the sale of two Darwin CBD office buildings which have been acquired by Melbourne based property fund Peak Equities for $50 million.
Jack Morrison and Peter Chapple of Savills Capital Transactions introduced the buyer who purchased both Darwin’s Old Admiralty Towers, located at 68 The Esplanade (pictured above), and the nearby Heritage building.
They worked in conjunction with Seth Chin from Darwin’s Chin Associates to sell the assets.
The buildings were both previously a part of the Jalouise property portfolio.
Jack Morrison said, “combining our knowledge of active buyers with Seth’s knowledge of the unique Darwin market yielded a great result for both parties."
Peak Equities currently portfolio is valued at near $250 million comprising nine syndicated trusts operating across retail, industrial and office sectors.
These assets' are the group's first purchase first Darwin purchasse.
Both properties are currently 100 percent leased with a mix of government and established tenants in place/
They have staggered lease expiries and an average remaining lease term of more than 12 years.
“Our client was largely attracted to the opportunity due to the prominent Esplanade location and Darwin’s strong economic growth potential,” Mr Morrison stated.
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Savills complete sale of two Darwin CBD office buildings for $50 million

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Darwin's house prices have been falling for five years and are now 24.1% down from their 2013 peak, according to Domain's latest House Price Report.
The report found, Darwin house prices fell 0.4 per cent over the quarter and 8.7 per cent over the year to $514,876.
Unit prices fell 0.3 per cent over the quarter and 13 per cent over the year to $321,990.
<a href="https://www.propertyobserver.com.au/Darwin's%20house%20prices%20have%20been%20falling%20for%20five%20years%20and%20are%20now%2024.1%%20from%20their%202013%20peak," target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said, “Darwin's housing market has been challenged in recent years."
"A recovery in Darwin’s housing market largely hinges on the government’s attempts at boosting the population, jobs growth and an improvement in the availability of housing credit,” she concluded.
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Darwin house prices down 24 per cent from 2013 price peak: Domain

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Values in Darwin’s housing market have been declining since 2014-2015, coinciding with the contours of the liquefied natural gas boom, according to the latest report from Moody's Analytics.
The report found, dwelling values are now around 23% below the peak.
As a result of falling dwelling prices, housing affordability in Darwin is among the highest of all capital cities, attracting increased numbers of first time home-buyers.
<img src="https://www.urban.com.au/images/2019/1/17/NT%202017-2020%20home%20values.JPG" alt="">
Moody’s Analytics expects a 3.7% growth in house values in 2018 after a -2% drop in 2018 in Darwin.
Greater Darwin House values are forecast to accelerate in 2020 growing 6.6%.
Apartment values in Darwin dropped steeply by 11.3% in 2018 however they are to stabilise in 2019 growing 1.2% and building off that growth in 2020 reaching 6.5% growth in median apartment values.
Dwelling values in Darwin fell year on year every month for four straight years.
The rest of the Northern Territory is forecast to have a recovery with house prices to grow 5.9% in 2019 and 4.4% in 2020 after seeing small losses in median house value in 2017 and 2018.
Vacancy rates in Darwin in the June quarter of 2018 were the highest among all capital cities, according to the Northern Territory government, though Darwin’s vacancy rate is susceptible to fluctuations due to the transient nature of the state’s population.
The authors noted that, "as a result, rental values have been tumbling; they were already down 24% since the first quarter of 2014."
"Even though building approvals have been falling at a similar rate in recent years, rental values have continued to fall."
"This is contributing to lower purchasing demand, even though rental yields are high by national averages," they concluded.
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Darwin property values to finally rise in 2019: Moody's Analytics

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Darwin just pipped Canberra to be 2018's strongest mainland capital city with 3.7 percent house price growth, according to CoreLogic.
Canberra houses rose 3.6 percent in the year.
Darwin's house price recovery was not however seen in the apartment market, where it was the weakest capital city market across the country.
Darwin unit prices were down 10.4 percent during 2018 to a $305,000 median, the CoreLogic report showed.
Canberra unit values rose 2 percent to $440,800.
Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/dwell1.jpg" target="_blank">to enlarge</a>.
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Darwin's dwelling values over the calendar year fell by 1.5 percent, while Canberra's dwelling values rose 3.3 percent.
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According to CoreLogic head of research Tim Lawless, the broad weakening in housing market conditions in 2018 highlights that the slowdown goes well beyond the correction in Sydney and Melbourne.
“Although Australia’s two largest cities are the primary drivers for the weaker national reading, most regions around the country have reacted to tighter credit conditions by recording weaker housing market results relative to 2017.
“The two exceptions were regional Tasmania, where the pace of capital gains was higher relative to 2017 resulting in a nation leading 9.9 percent gain in values over the 2018 calendar year, and Darwin, where the annual rate of decline improved from -8.9 percent in 2017 to -1.5 percent in 2018.”
A recent sale in Nightcliff was a Verbena Street five bedroom house which has been sold at $800,000 (pictured below).
<a href="https://www.realestate.com.au/sold/property-house-nt-nightcliff-128726138" target="_blank">13B Verbena Street </a>features open plan living/dining area, large covered balcony, kitchen with steel oven, four upstairs bedrooms and fifth bedroom downstairs. 
Other features include tropical gardens, in-ground pool, double carport and split-system a/c.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/8/14/nightcliff%20.jpg" alt="">
A Fannie Bay three bedroom townhouse has been recently sold for $850,000 (pictured below).
Situated at 2/3 Philip Street, the townhouse comes with open plan kitchen and living, three bedrooms, and large private courtyard with in ground pool. 
It is with walking distance to the Fannie Bay Shopping Village and parks as well as East Point Reserve.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/8/14/fannie%20bay%20.jpg" alt="">
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Darwin was one of only two capital cities that saw a reduction in gross rental yields over the year. 
Darwin showed a reduction in rental yields, due to rental rates (-5.8 percent) falling more than dwelling values (-1.5 percent).
Hobart dwelling values (+8.7 percent) rose faster than rents (+5.8 percent) which dragged the gross yield lower over the year. 
Housing affordability has rapidly deteriorated across Hobart, according to Lawless.
"Outside of Hobart, where dwelling values were 8.7% higher over the year, even the best performing regions returned a relatively mild annual growth rate, Lawless said.
Seven of the top ten sub-regions returned an annual gain of less than 3%.
"Such a soft result amongst the best performing areas highlights that housing market weakness is broad-based and not just confined to Sydney and Melbourne," Lawless added.
Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.
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Darwin pips Canberra to be 2018's strongest mainland capital for house value growth: CoreLogic

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Darwin’s northern suburbs have always been a hotspot for the mum-and-dad investors and first home buyers, according to the latest Herron Todd White (HTW) residential report. 
But the HTW report suggests this market segment has felt the effects of the market contraction in terms of both sales volume and value over the past two years.
HTW noted towards the end of 2014, the market segment was difficult to penetrate with strong competition driving prices well above achievable and sustainable levels, particularly for first home buyers who were competing with investors looking to capitalise on strong yields.
"We consider at this point in time, this particular market segment has probably reached around five or six o’clock on the property cycle clock which says values have bottomed out and activity remains subdued – a holding pattern if you like,"  the valuation firm said. 
"With this, opportunities to enter this market begin to open up at much more affordable prices."
Currently the Northern Territory government is offering a first home owner discount, which is a full stamp duty concession on the initial $500,000 value of the home, resulting in savings of just under $24,000.
Also on offer is a home renovation grant of up to $10,000 on an established home. These are significant savings and provide a home owner the opportunity to add value by completing renovation and upgrade works to their property.
"In recent times, we have seen a significant number of ex Housing Commission dwellings hit the market, as the government looks to turn over stock," HTW said.
"There is no question that these are the most basic of structures with few quality fixtures and fittings, however, like most of the northern suburbs, they were well constructed on solid foundations."
It’s with this type of property that good opportunities exist for first home buyers – purchase an entry level dwelling in a subdued market and take full advantage of the grants on offer from the Northern Territory government to improve your property and add value.
Renovations can be expensive and it’s certainly a fine line between the cost versus value relationship of any works completed.
"The advantage in this space, and where you strengthen your margins, is completing as much of the work yourself – obviously utilising trades where compliance is required.
"If you’re smart about the type of works you complete and the standard to which they are completed, there are real possibilities to increase the overall appeal and value of your property.
"Given our climate and lifestyle in the top end, provision of outdoor living space is essential.
"Verandah and balcony extensions tend to be popular additions in both elevated and ground level dwellings and can in some instances double as covered car accommodation.
These types of improvements are typically lacking in the entry level product and can really improve the utility and functionality of a dwelling by incorporating indoor and outdoor living, it said.
Swimming pools also feature as common upgrades on town blocks, whilst granny flats and sheds tend to dominate the rural residential areas.
These types of construction can come at some significant costs, however in a rural residential market where owners will typically have motorbikes, boats and trailers, good shedding is considered important and does increase the overall marketability of a property.
"Quite often, sheds are fitted out to a habitable standard and may or may not be certified for living. In the instance where elderly parents or teenagers may require detached secondary accommodation, converted sheds can provide this to a reasonably good standard whilst minimising costs compared to rendered block constructions.
"Regardless of the type of renovation or addition to a dwelling either in the rural or town areas, what is apparent is that without such improvements being made to a property, there is limited scope for capital appreciation of the asset.
"To simply rely on upswings in the market to see an increase in value is not likely to yield you anything in the medium term and owners should consider very carefully what type of renovation or addition will provide the most bang for their buck."
An example was a two bedroom Marrara unit which has been sold for $300,000 (pictured above).
Located at<a href="https://www.realestate.com.au/sold/property-unit-nt-marrara-129325230" target="_blank"> 5/5 Dornoch Court,</a> the recent renovated unit comes with two bedrooms, separate lounge and dining areas, rear courtyard and side access. 
It is close to Marrara shopping centre and airport.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/1/jingili.jpg" alt="">
Another renovated house in Jingili has been recently sold for $425,000 (pictured above).
Set on a 821 square metre allotment, the house at <a href="https://www.realestate.com.au/sold/property-house-nt-jingili-129327082" target="_blank">15 Winton Street</a> features three spaicous bedrooms, open plan living, and extensive verandah.
It located only five minutes from the Darwin International Airport.
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Improvements lacking in entry level Darwin property: HTW

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GUEST OBSERVATION
On my way to work, I walk across the intersection of Knuckey and Wood streets. Most days a homeless man on his haunches is mouthing bureaucratic platitudes:
"Let’s workshop this? We need to have meeting about this! Can you give me the heads-up on this? Do we have numbers on this? Has a C/B been done?"
Is he an old bureaucrat? Or is he just a parable of planning – platitudes, words and little action? Wishes, words and workshops are not the currency of urban design; skilled drawings, urban history, science and continuous public dialogue are.
The concern in most Australian cities, and particularly in Darwin, should be with the public form of the city – with building frontage, with the streets, squares and parks, and with what is needed to make them safe, cool and enjoyable. Such street-form-based planning should replace “tidy town” zoning planning and code-based roads that ignore heat, landscape and the public.
July 2018 in Darwin was 2℃ hotter than any previous July and the record heat has continued in recent months. Surveys show that people are leaving Darwin because of the heat.
What has gone wrong?
In the city centre, every second shop is closed and dark. Shops, offices and apartments have a 50% vacancy rate. There is no appreciation of the urban history of the decline: the growth of outer urban shopping malls, the closing of Woolworths in Knuckey Street in 2010; the changing in 2012 of the key Smith Street Mall – removing trees, installing canopies and dark pavement, and thus increasing temperatures.
The decline has not happened overnight but has been accelerated by the completion of a vast LNG project, by new shopping malls and chain stores, and by the impact of internet shopping. The Waterfront (mixed uses with a crocodile-safe “plage”) finished in 2013 is subsidised at a cost of millions every year. It is cut off from the city centre.
Traffic is reducing while more roads are being built. Darwin is over-roaded with roundabouts, pedestrian “seagull” median islands and refuges.
I have calculated that over 35% of the city centre is unshaded blacktop bitumen, which lifts ambient and surface temperatures. There is only 14% green canopy compared to nearly 50% in tree-loving Singapore.
Every day the temperature rises above 30℃. The city centre can be up to 6℃ hotter. The bitumen surfaces reach temperatures of 66℃!
What can be done about this?
Professor Mat Santamouris of UNSW and the Northern Territory government has been studying heat in central Darwin for the past year using drones and 15 weather stations on light poles. Ambient heat, surface heat, humidity and wind have been mapped, eight heat islands (6℃ above ambient) and four heat sinks (cool areas below ambient) have been identified for the northerly (The Wet) and southerly (The Dry) weather regimes.
A predictive computer model has been built to evaluate proposed strategies to reduce heat impacts. Santamouris has recommended across the city centre:
<ul>
<li>fountains and pools (very effective up to 50m away)</li>
<li>white roofs, and green roofs and walls</li>
<li>coating streets, footpaths and surface parking to make “cool pavement” (very effective)</li>
<li>increases in green canopy shade (effective in the right location).</li>
</ul>
<img src="https://images.theconversation.com/files/241190/original/file-20181018-41147-1gxwlkr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
An extensive cooling vine-covered shade structure is being erected in Cavanagh Street. Glenn Campbell, Author provided
The government is using one block of Cavenagh Street as a heat mitigation trial. The 30m-wide street is the hottest street in the city centre. Due to lack of shading, surface temperatures in the afternoon exceed 60℃. The street also acts as a breezeway, “ducting” to the inner blocks hot, dry winds in the dry season and hot, humid winds in the wet season.
Black bitumen surface will be treated with more reflective cool pavement coatings and more trees will be planted. At the southern end a long cooling vine shade structure I have designed (with the structural engineer Max Irvine) is being constructed. Equivalent to 24 trees, it completely spans the roadway with a huge curved stringybark lattice prefabricated by the Gumatj in northeast Arnhem Land.
This large living shade structure has advantages over trees. It can be built in four months, does not interrupt underground services and resists cyclones. The vines will cover the roadway in 18 months. Trees take five years.
<img src="https://images.theconversation.com/files/240716/original/file-20181016-165891-c4eubi.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
The vine shade structure will be equivalent to 24 trees but will shelter the street in months rather than taking years to grow. Author provided
But Cavenagh Street is only one of 30 blocks in Darwin. If the proposed mitigation strategies were fully implemented across the city centre, ambient temperature could be reduced by 2.7℃. This would not only make the city more comfortable for commerce but save lives and energy.
Principles for a cool Darwin
Like most cities, there is no overall urban management and coordination at the street level. Darwin’s centre is formed by the NT Planning Scheme. But within the scheme, public servants can play by their own rules: Planning, Transport, Roads, the Waterfront Authority, the City of Darwin (the council) and PowerWater. The result: Darwin streets are series of accidents.
I propose these administrations be replaced in the city centre by a Cool Darwin Authority (small with highly qualified people, and with a Larrakia elder), to develop and implement, with genuine public dialogue and discourse (not so-called “consultation”), an urban design plan.
The first principle of this plan should be reducing the ambient temperature by 2.7℃. Heat stops walkability and wandering past shops.
This could be accompanied by a second principle – a “toolbox” for cool street design. This would including limiting bitumen area.
A “toolbox” for shop regeneration would be among other important principles. This would involve limits on chain stores, disincentives for landlord keeping shops empty, incentives for filling them (even with temporary uses) and support for historic businesses. Shop closure is contagious. Where shops are empty and streets deserted yoEmpty shops and deserted areas lead to graffiti, sleeping rough and dilapidation.
Streets are central to urban cooling. There is over 300,000m2 of black unshaded bitumen. Shading and street canopies (that do not trap heat) should be ubiquitous.
The urban order and scale from the 1869 Goyder Plan have been lost, as has the central square that would give an urban focus. Cities with closely spaced intersections seem to thrive more than cities with bigger grids. It seems the more corners the better; people bump into each other more often. There is “propinquity”.
Darwin has worked hard over many years closing its arcades and cross streets (Peel, McLachlan and Lindsay). The centre needs more effective interconnection: the high town (the mall/State Square) and low town (Waterfront) with a grand flight of stairs; the mall/State Square to Old Hospital Site/Myilly Point with a cooling lineal park, via a new (old) central square.
<img src="https://images.theconversation.com/files/240722/original/file-20181016-165903-1tdjxil.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
A view of proposed waterfront stairs providing a shaded link between the high town and the low town. Author provided
Streets are the music of the city. The buildings are the lyrics. Both should come together as a musical or an opera. The music can only begin if there is a network of shade, greenery, easy walking and buildings of all types interacting with the street.
Requiem or renewal? Darwin sees itself as a laid-back larrikin city with crocs and barra. Renewal and a new character can emerge by the implementation of principles. We cannot wish for a new character.
What might emerge? Perhaps a cool-in-both-senses city: a cosmopolitan tropical capital with tree canopy, vine shade structures and fountains. Perhaps a cool international waterfront city – an eight-hour voyage by fast ferry from Indonesia. Perhaps the full urban recognition of the Larrakia, the saltwater people, and their places: beaches, fish traps, middens, yarning circles, meeting places and cultural centres.<img src="https://counter.theconversation.com/content/102839/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Lawrence Nield, Professor of Practice, School of Architecture and Built Environment, University of Newcastle
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/requiem-or-renewal-this-is-how-a-tropical-city-like-darwin-can-regain-its-cool-102839" target="_blank">original article</a>.
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How a tropical city like Darwin can regain its cool

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Darwin house rents held steady over the quarter, but declined over the year by 3.8% to $500 a week, according to the latest rental report from Domain.
The report found that unit rents in Darwin experienced no quarterly or annual change, holding steady at $400 per week.
This is the first time in four years unit rents have not declined over the quarter and year.
Darwin continued to offer investors the highest unit gross rental yields at 6.08%, the only Australian capital city to achieve a yield above 6%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20darwin.jpg" alt="">
"For investors, a softening sales market continues to improve unit gross rental yields, almost pushing them back to the record highs achieved in 2004 and 2005," said Domain Senior Research Analyst, Dr Nicola Powell.
"A turnaround in rental demand for the city is largely dependent on economic growth, jobs creation and an improved population growth.
"The Northern Territory Government has announced a revitalisation of Darwin’s CBD with an aim at enhancing liveability, and offering key workers financial incentives to relocate.
"The impacts from the initiatives remain to be seen but the long-term approach to addressing population growth are likely to support rental demand."
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Darwin unit rentals stabilise after four years of decline: Domain 

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In a first for Apartments.com.au, the subject of this article is a new Westin branded hotel not for Melbourne, Sydney, Brisbane, Adelaide or even Perth. Instead, the Bates Smart-designed Westin will be developed in the Northern Territory's capital city Darwin.

Located right on the waterfront, the hotel has been designed to form important and meaningful connections between the city and the water, with the dual aim of enhancing the precinct and providing a gateway to the natural wonders of the Northern Territory beyond.

According to architects Bates Smart, the vision for the Westin Darwin Hotel is "the creation of an iconic tropical hotel that embodies the rich natural and cultural heritage of the location."

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/m12069_n4_webview.jpg" rel="gallery-all" title="The Westin Darwin Hotel. Image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/m12069_n4_webview.jpg?itok=8dgdrN8d" title="The Westin Darwin Hotel. Image: Bates Smart" width="580"></a>

<figcaption>The Westin Darwin Hotel. Image: Bates Smart</figcaption></figure>The design team studied the geographic story of the site, the historic context and the requirements of the climate, with the design response producing a curved form which references the layered histories of the waterfront. This embeds the hotel with a strong sense of place and a response to its context.

<blockquote>
The lower levels are inspired by the nearby rock formations and capture the spirit of the local landscape through the use of natural stone, complemented with lush landscaping and water features.

Areas for rest and reflection are aided by verandas and breeze ways which respond to the tropical environment, but also reference the heritage buildings within Darwin.

The upper levels of the hotel are inspired by tree canopies. Dark metal and timber screens create dappled patterns of light, but also provide valuable shading for the humid temperature.

Importantly, the design incorporates a seawall which is designed to protect the hotel from significant weather events and cyclonic wave activity, but that at the same time provides a generous pedestrian path and access to the waterfront for the local community.

- Bates Smart
</blockquote>

A garden restaurant and bar provides patrons with an authentic Northern Territory dining experience, supported by a rooftop garden accommodating additional restaurant facilities, and infinity pool providing expansive views over the waterfront. The hotel's rooftop can be accessed via a skywalk from Goyder Park.

Additionally, the hotel includes a diverse range of function and conference facilities with new spaces for events for Darwin locals and visitors.

High-quality materials and detailing have been provided throughout the interiors complemented by a neutral palette of soft tonal textured finishes which add a tactile quality to the spaces.

<blockquote>
Our intention is for the hotel to embody the spirit of Darwin, the land and nature and to create an identity that is uniquely connected to the Northern Territory.

- Cian Davis, Bates Smart Studio Director
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/m12069_n10_webview.jpg" rel="gallery-all" title="Westin Darwin Hotel will be located right on the waterfront. Image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/m12069_n10_webview.jpg?itok=KPl-tPVL" title="Westin Darwin Hotel will be located right on the waterfront. Image: Bates Smart" width="580"></a>

<figcaption>Westin Darwin Hotel will be located right on the waterfront. Image: Bates Smart</figcaption></figure>The design of the Westin Darwin Hotel will achieve the following:

<ul>
<li>Iconic tropical hotel that embodies the rich natural and cultural heritage of the location.</li>
	<li>Connects the city and the water, enhancing the waterfront precinct.</li>
	<li>A generous pedestrian path provides access to the waterfront for the local community.</li>
	<li>The design references the historic context and the requirements of the climate.</li>
	<li>The hotel offers tropical luxury with beautiful rooms and iconic dining offerings.</li>
	<li>A diverse range of function and conference facilities provides the people of Darwin with new spaces for events.</li>
</ul>
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