Sydney

Mirvac has progressed in its plans to transform Harbourside, Darling Harbour into a new, world class destination for Sydney, following the appointment of architects Sn&oslash;hetta and Hassell Studio.

Sn&oslash;hetta and Hassell Studio submitted the winning design concept to the international Harbourside design excellence competition, which was selected by a jury of six influential urban design experts.

The proposed $2 billion redevelopment of the Harbourside precinct is a landmark project in Mirvac&rsquo;s $28 billion national development pipeline, said Mirvac chief investment officer, Brett Draffen.

&ldquo;We are delighted to reach this important milestone and progress the formal design excellence process for the revitalisation of Harbourside, working alongside Place Management NSW&rdquo;, he said.

The winning design was selected by the jury because it &ldquo;emphatically embraced&rdquo; Mirvac&rsquo;s vision for Harbourside.

Subject to the necessary approvals from the NSW Government, Harbourside is expected to deliver approximately 24,000sqm of office space, 7,000sqm of retail and 350 luxury apartments.

As part of the project, Mirvac will also deliver 10,000 square metres of public domain, including the proposed 3,500sqm Guardian Square, as well as a widened waterfront promenade for the community to visit and enjoy.

The concept for Harbourside characterised by this network of welcoming public open spaces featuring natural materials and vegetation.

&ldquo;At its heart, Guardian Square will become Pyrmont&rsquo;s new neighbourhood park and community meeting place, with landscaping and moments of art and activation planned to deliver an enlivened precinct that provides locals and visitors alike with a powerful sense of belonging, community and ownership&rdquo;, said Draffen.

The development pays respect to the Indigenous history of its Sydney site.

&ldquo;For thousands of years, Aboriginal people lived in and around this area which to them was an important gathering place known as Tumbalong, named after the harbour&rsquo;s abundance of seafood&rdquo;, Draffen said.

Hassell principal, Liz Westgarth said: &ldquo;The landmark Sydney site of Darling Harbour, previously known as Tumbalong, has a long, rich, and layered history, which provides a unique context for world-class architecture and place-making to inspire future story creation.&rdquo;

Kaare Krokene, managing director of Sn&oslash;hetta Australasia said: &ldquo;We are extremely proud of a design that acknowledges the historic sandstone escarpment landscape of Tumbalong, now known as Darling Harbour.&rdquo;

This continues the tradition of shared public space, honouring the first nations Gadigal and Wangal people who saw this as &quot;shared country.&rdquo;

Luxury apartments will be designed to meet the high standards of sustainability and liveability, featuring smart technology and an exciting array of shops, eateries and other attractions.

Harbourside is expected to commence construction in 2023 once approvals are secured.

Snøhetta and Hassell Studio submitted the winning design concept to the international Harbourside design excellence competition, which was selected by a jury of six influential urban design experts

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Architects appointed to Mirvac’s $2 billion Darling Harbour redevelopment to transform Harbourside 

Sydney house prices continued their surge over&nbsp;January, with&nbsp;affordability issues continuing to plague prospective buyers in the city&rsquo;s inner suburbs. &nbsp;

Growing house prices are pushing more and more home buyers in to the apartment sector, with many looking at the value in off the plan apartments, with small deposits before completion, and room for value growth while the apartments are being developed.

Urban has had&nbsp;a look at the best off-the-plan apartments for sale in Sydney&rsquo;s inner-city suburbs.

<h2>1. Waterfall by Crown 
Developer: Crown Group</h2>

Positioned four kilometres east of the Sydney CBD, Waterfall by Crown Group is a collection of four towers inspired by the tropical landscapes of Indonesia.

The luxuriously appointed apartments include 331 residences in one, two and three-bedroom configurations.

[smartcode_project:default project_id=5763 project_image_fid=182359]

The ground-breaking new development delivers a sophisticated, resort-style residence to Waterloo, offering a balance of luxury, nature and beauty.

Designed by SJB Architects, the development features an internal lagoon, lush rooftop escape, tropical bamboo walk, and a 22-metre waterfall.

<h2>2. Alex Collective 
Developer: Ceerose</h2>

In the neighbouring suburb of Alexandria, Ceerose is delivering a collection of 163 one, two and three-bedroom apartments at Alex Collective.

&quot;Alexandria has always been a highly sought-after location with its unique terraces, warehouse-style apartments and heritage homes in a historic industrial-aged setting&rdquo;, said director of residential at Colliers, David McMahon.

[smartcode_project:default project_id=29785 project_image_fid=91570]

Designed by Andrew Burns Architecture, each apartment boasts floor-to-ceiling storage, bay windows and a balcony fringed by greenery.

The homes also feature concrete-inspired stone benchtops, sandstone-coloured joinery and integrated appliances.

<h2>3. Mastery by Crown 
Developer: Crown Group</h2>

Not far from Crown&rsquo;s other development, Mastery by Crown Group delivers a new cluster of five newly completed buildings in Green Square.

Set to become Australia&rsquo;s first Japanese-themed residential community, the development will feature 368 luxury apartments and a 2,175sqm retail precinct, which will home 27 stores and a new Japanese eat street.

[smartcode_project:default project_id=7020 project_image_fid=25155]

Mastery is the last council-permitted tower for the area, meaning that this is an exclusive opportunity to secure views that will be impossible to replicate in Waterloo with existing zoning rules.

Inspired by the interplay of light, hikari, and shadow, kage, each interior features modern and sophisticated fittings and furnishings designed to enrich residents&rsquo; health and happiness in a Zen manner.

<h2>4. Surry Hills Village 
Developer: TOGA</h2>

Aligning with the City of Sydney&rsquo;s strategy of transforming inner-city urban precincts, Surry Hills Village will deliver the regeneration of a 1.2-hectare site to meet the needs of locals and visitors.

Designed by Iain Halliday and BKH, the masterplanned community will feature 122 apartments and a 102-room hotel, as well as 12,000sqm of commercial and retail spaces, featuring a Coles supermarket, specialty retail and parking for retail customers.

[smartcode_project:default project_id=9302 project_image_fid=188219]

Surry Hills Village was designed by SJB Architects, built to incorporate outdoor spaces, balconies and landscaped gardens.

Complementing the quality private open space, residential communal spaces will include walled gardens, barbecue courtyards and rooftop gardens.

<h2>5. The Frederick 
Developer: Mirvac</h2>

Rising 23 storeys at Green Square, The Frederick is Mirvac&rsquo;s latest stage at its Green Square development.

Offering a range of one, two and three-bedroom apartments, the development features family-sized residences, hotel-like amenities and views across the Sydney city skyline.

[smartcode_project:default project_id=109956 project_image_fid=186237]

Designed by Smart Design Studio and Mirvac Design, its fa&ccedil;ade features a striking curvilinear form that is punctuated by illuminated elements.

Positioned at the gateway to Sydney&rsquo;s sought-after Green Square Town Centre, these residences are located amongst an exciting cosmopolitan playground, which includes parklands, civic plaza and convenient transport offerings.

Urban takes a look at the best off-the-plan apartments for sale in Sydney’s inner-city suburbs. 

The top five apartments for sale in Sydney's inner-city suburbs 

A single street in Wolli Creek is earmarked for more than $80 million in development providing 254 apartments in three separate applications lodged with Bayside Council.&nbsp;

The applications&nbsp;will change the face of Innesdale Road, near Cahill Park.

Two applications came from the same unknown developer, with&nbsp;Marchese Partners has designing the&nbsp;four&nbsp;residential buildings proposed.

In their design statement submitted to the local council, Marchese Partners said the buildings have&nbsp;been designed to contribute to the revitalisation of the precinct and will provide visual amenity to the area.

<img alt="" height="558" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-02-08_at_11.46.58_am.png" width="972" />

The $22.3 million application for 15-23 Innesdale&nbsp;is for two nine-storey towers which have been designed by Marchese Partners.

There will be 76 apartments, 15 reserved for affordable housing, across the two buildings.

The submission for 25-37 Innesdale Road is the biggest, at $29.65 million. That will see&nbsp;seven existing single and double storey houses&nbsp;demolished to make&nbsp;way for two more nine-level buildings, with 104 apartments.

The proposed development consists of two, eight-storey residential flat buildings that will include 104 apartments, with a mix of one, two, and three-bedroom offerings.

It will be made up of 37 one-bedroom apartments,&nbsp;56 two-bedders and 11 three-bedroom apartments. 42 of the units will be dedicated affordable housing apartments.

Another development application, unrelated to the two above, was also submitted in January.

<img alt="" height="1214" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-02-08_at_11.38.57_am.png" width="1556" />

DKO Architecture handled the design of the 1-7 Innesdale Road, which will have 71 apartments across a single eight-level building.

The developments are currently being considered by the Bayside Local Planning Panel.

A single street in Wolli Creek is earmarked for more than $80 million in development providing 254 apartments in three separate applications lodged with Bayside Council this month



alisonwarters@gmail.com

Wolli Creek apartment boom set for Innesdale Road

Grand Reve is the latest offering from Kassis Homes, set to transform Sydney&rsquo;s north-western suburb of Castle Hill.

Billed as the most prestigious development ever offered in the Hills area,&nbsp;Grand Reve is a&nbsp;collection of 196 contemporary apartments across two towers.

[smartcode_project:default project_id=94147 project_image_fid=152849]

Featuring studio, one, two and three-bedroom apartments, as well as split-level townhouse-style dwellings,&nbsp;Grand Reve has been designed by&nbsp;Turner Studio with a particular focus on outdoor spaces.

&quot;We&#39;re really urbanising the concept of the backyard and integrating that into an urban housing scheme that sits in a suburban context and, therefore, I think we&#39;re going to end up with a unique project and a unique product,&quot; Turner Studio design director&nbsp;Nick Turner&nbsp;said.

A landscaped podium garden, which connects the two towers, features&nbsp;seating pods, resident dining areas, and views across the Hills District.

[smartcode_project:default project_id=94147 project_image_fid=152852]

Altogether, the project will deliver residents three communal garden areas, totalling over 2,000sqm of open space.

Below the two towers is the project&rsquo;s brick base, which houses the&nbsp;open-air concierge, designed with&nbsp;weather-protected corridors and integrated gardens.

&ldquo;The brick base is a unifying form and is representative of the Sydney suburban vernacular&quot;, Turner Studio said. Designed to catch the light, the warm-coloured bricks have been laid to form ornate patterns across the lower levels.

[smartcode_project:default project_id=94147 project_image_fid=152853]

Light in colour, the towers themselves have been designed as sculptural elements, with soft, rounded corners and a feminine form to respond to the spaces within and the views beyond.

Interiors

Designed to suit a wide demographic, the project features a range of layouts, including studios, split-level townhouse-style dwellings, terrace apartments with generous outdoor spaces and penthouse sky-residences.

Each residence offers generously-sized&nbsp;floorplans, open-plan living and dining and&nbsp;2.7-metre high ceilings, while&nbsp;kitchens feature luxuriously-appointed Wolf&nbsp;gas appliances, engineered stone benchtops and brass fixtures.

[smartcode_project:default project_id=94147 project_image_fid=152848]

The combination of substantial forecasted population growth, an existing and expanding retail hub, and the newly established Metro line are all drawcards for buyers to make the move to Castle Hill.

Marketed by McGrath Projects, prices at Grand Reve begin from $560,000 for the 92sqm studio&nbsp;apartment. 
 
[smartcode_project_cta: project_id=94147]

The project boasts a curated collection of 196 contemporary residences and has been billed as the most prestigious development ever offered in the Hills area

Inside the Grand Reve, Castle Hill apartments

Discerning homeowners of Castle Residences, an exclusive address on the doorstep of Sydney&rsquo;s Hyde Park, will have access to numerous amenities thanks to a partnership with a luxury hotel brand.

&ldquo;Once upon a time, all the best people lived in a world-class luxury hotel&rdquo;, the developers, United Development Sydney, state.

Think Coco Chanel at The Ritz, Greta Garbo at Chateau Marmont and Cole Porter at the Waldorf Astoria, who all called hotels home.

[smartcode_project:default project_id=7758 project_image_fid=79424]

Castle Residences, too, will see a unique fusion of luxurious living and the hotel services of the international MGallery boutique hotel brand by Accor.

A worldwide leader in the hospitality sector, AccorHotels brings together over 4,100 hotels in 95 countries, with subsidiaries including Swiss&ocirc;tel, Mercure and Sofitel.

Sitting within the historic Porter House, built in 1876, the MGallery hotel will rise five storeys and maintain the building&rsquo;s heritage sandstone fa&ccedil;ade, while the new residential tower soars above.

&nbsp;

[smartcode_project:default project_id=7758 project_image_fid=150437]

Designed by architecture firm Candalepas Associates with interiors by the interior designer StudioAria, the striking modern structure appears to float over the heritage-listed building, interwoven to achieve a balance of beauty and liveability.

The Manhattan-style apartments feature sculptural cantilevers, alcoves and honeycomb-like arches.

&ldquo;I can imagine, in years to come, that Porter House and the new tower building will merge into one in people&rsquo;s consciousness, as if the entire assembly always coexisted&rdquo;, architect Angelo Candalepas said.

[smartcode_project:default project_id=7758 project_image_fid=150452]

Residents will experience hotel luxuries and world-class amenities offering a new level of convenience for Sydney as privileged members of the world-class AccorHotels community.

Focused on comfort and amenity, services will be accessible to residents via a personalised iPad application.

Below features an extensive list of the hotel services available at Castle Residences:

<ul>
	<li>Dedicated room service</li>
	<li>In-residence catering</li>
	<li>In-residence housekeeping</li>
	<li>In-residence maintenance</li>
	<li>Access to hotel facilities including restaurants, bars, gym, pool and business centre</li>
	<li>Concierge service for restaurant and taxi bookings plus mail and package deliveries</li>
	<li>24-hour security</li>
	<li>Valet parking services</li>
	<li>General service bookings including couriers, dry cleaning and laundry</li>
</ul>

The project is expected to reach completion in 2022.

[smartcode_project_cta: project_id=7758]

Castle Residences boasts access to numerous amenities thanks to a partnership with a luxury hotel brand

What extra luxuries residents at Castle Residences, Sydney, get as part of AccorHotels partnership

There&#39;s set to be a fresh wave of international returnees over 2022, as Australia once again reopens its borders fully to the world of investors and students.

Some of Sydney&#39;s top developers&nbsp;have been planning for the eventuality, acquiring development sites and timing the launch of their projects to coincide with the expected 2022-rush for apartments.

There&#39;s already been a notable move for the unit market toward the end of 2021, with houses becoming unaffordable for the vast majority of Australians. The gap between the median price for a house and the median price for an apartment is at record highs.

Urban takes a look at eight developers operating in the NSW that you should keep an eye on in the new year.

<h2>1. Mirvac</h2>

Celebrating its 50th year in operation in 2022, Mirvac has an exciting book of projects across New South Wales next year.

Only recently has Mirvac&nbsp;launched NINE by Mirvac, on the site of the former Channel Nine Studios HQ.&nbsp;

The three-hectare site will home over 440 apartments designed by CHROFI in collaboration with Mirvac Design, and interiors by leading Melbourne design studio, MIM Design.

[smartcode_project:default project_id=93788] 
Above image is an artist&#39;s impression

There will be around 6,500 sqm of open space designed by internationally renowned landscapers McGregor Coxall, with parks, gardens, a lawn for active play, sheltered barbecues and a children&rsquo;s playground.

Mirvac&#39;s next stage of their Green Square redevelopment, The Frederick, has also just been launched.

The striking 23-level building,&nbsp;with a striking curvilinear form, is a&nbsp;collaboration between Smart Design Studio and Mirvac Design. That will have 152 apartments when completed in 2023.

[smartcode_project:default project_id=109956 project_image_fid=186240] 
Above image is an artist&#39;s impression

The ASX-listed developer will also be seeking approval for a 2022 launch of Coonara, West Pennant Hills, which will see 418 dwellings built on a 26-hectare block of land focused on the natural environment.

Bordering the Cumberland State Forest, around 10 hectares of remnant bushland will be dedicated to the NSW Government as public open space.

<h2>2. Thir​d.i Group</h2>

Launched in 2006, Third.i has spent over 15 years creating award-winning projects across the residential and commercial sectors.

The Sydney-based developer&rsquo;s current development pipeline, projects either in planning or under construction, exceeds $2.5 billion in value across Australia and the UK.

Late this year, Third.i submitted a development application to the City of Newcastle for its fourth West End apartment project, the 180-residence Dairy Farmers Towers.

<img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dairy_farm_towers.jpg" width="1200" />

The group is also aiming to start the second stage of construction on Balfour Place, a mixed-use Lindfield development in collaboration with Coles Group, in the first quarter of 2022, in what is set to be an exciting year.

The current DA approval sees the 7,091sqm site set to become a luxury residential tower built atop a brand-new Coles supermarket, Liquorland, caf&eacute; and a heritage commercial space.

<h2>3. Iris Capital</h2>

Iris Capital, led by the local hotelier and developer Sam Arnaout and originally boasting a substantial portfolio of assets in the hospitality industry, has ramped up its involvement in the&nbsp;residential sector over the last decade.

Founded in 1995, the development group has delivered a number of integrated residential and mixed-use development across the Sydney region.

Launching its $350 million Potts Point redevelopment Queensgate this month, Iris Capital is expected to see a hot year of sales across its five apartments buildings in the harbourside precinct.

[smartcode_project:default project_id=5570 project_image_fid=180676]

Just 48 high-end apartments will be on offer across a selection of one, two and three-bedroom apartments, in addition to an exclusive collection of ultra-luxury penthouses with private pools.

The stage one completion of Ea​st End, one, two and three-bedroom coastal apartments in Newcastle, has helped cement its place on this must-watch list.

Another who has made the move north, Iris recently launched Victoria &amp; Albert, their first Gold Coast apartment project, and recently secured a prime development site on the Surfers Paradise dress circle Garfield Terrace.

<h2>4. Coronation Property</h2>

Run by Sydney locals, Coronation Property has brought a fresh perspective to urban precincts across Sydney since its inception in 2012.

As a fully-integrated developer, the group controls every part of the development process, from initial design to construction and building management.

Coronation has a track record for delivering great residential developments across Western Sydney including the Paper Mill Precinct in Liverpool. They have 8 Phillip Street in Parramatta currently under construction

Its latest development, Mason &amp; Main, combines the established neighbourhood character of Merrylands with convenient proximity to Sydney&rsquo;s second CBD of Parramatta.

[smartcode_project:default project_id=13693 project_image_fid=34741]

The residence offers 346 residences in one, two and three-bedroom configurations, designed by Woods Bagot.

<h2>5.&nbsp;ALAND</h2>

Established in 2002, ALAND is an Australian-owned family business with over 20 years of experience, and a hit with locals given their long relationship sponsoring the Parramatta Eels.

A specialist builder and developer delivering state-of-the-art contemporary residential projects across the Sydney region, the group now boasts a portfolio of over 2,800 completed apartments.

Now selling in Sydney, is the group&rsquo;s Parramatta project, Paramount on Parkes, offering 294 apartments bordering the well-known horse racing spot, Rosehill.

[smartcode_project:default project_id=9198 project_image_fid=164868]

The 42-level tower will offer expansive one, two and three-bedroom residences with plenty of storage, as well as a number of amenities.

The ALAND team will also see their&nbsp;Liverpool residences at the Hoxton reach completion mid-next year, alongside the Schofield development, Schofield Gardens.

[smartcode_project:default project_id=9198 project_image_fid=164874]

<h2>6. Deicorp</h2>

With over $2.5 billion of residential, retail and commercial real estate in the pipeline, privately-owned development group Deicorp has secured its place on this list for the second year in a row.

Founded in 1999, they have delivered over 8,000 apartments and sold over 1,000 apartments across the calendar year.

Last month, <a href="/news/nsw/deicorp-secure-polding-centre-sydney-apartment-development-site">Deicorp secured the development rights</a> to a 61-storey mixed-use development on the site of the Polding Centre in the Sydney CBD, which will likely hit the market in 2022.

Work has also started on developer Deicorp&rsquo;s $750 million Tallawong Village project in north-west Sydney.

[smartcode_project:default project_id=106821]

The first stage will present a mix of 333 one, two and three-bedroom apartments, forming part of a masterplanned precinct steps from the Sydney Metro line.

<h2>7. Top Spring</h2>

Top Spring has acquired a reputation for its quality developments over its near-three-decade history, completing over 20 development projects in 12 cities around the globe.

The Australian arm, based in Sydney, has the strength of local expertise backed up by a powerful international market presence and knowledge.

Beginning demolition this month to make way for Munro House, a new Elizabeth Bay residence, the group is expected to start construction on the 30 luxury apartments next year.

[smartcode_project:default project_id=100691 project_image_fid=186113]

In 2022, the company also aims to cement its reputation for delivering high-end residential living with a new 18-residence Double Bay project, according to Top Spring Australia&#39;s managing director, Sydney Ma.

&ldquo;In line with our premium project at Elizabeth Bay, Munro House, this project will encapsulate all the hallmarks that Top Spring Australia is known for, including new technology, art, green spaces and contemporary design,&rdquo; Ma&nbsp;said.

<h2>8. TOGA Group</h2>

A leading Australian property group with a portfolio across Australia, New Zealand and Europe, TOGA currently has several major projects under construction.

Founded by Ervin Vidor in 1963, in coming years TOGA is on-track to launch a pipeline of more than 5,000 apartments and an expansive portfolio of vibrant retail and short-term accommodation.

Among the group&rsquo;s developments includes Surry Hills Village, the mixed-use development and precinct on the corner of Cleveland and Baptist Street.

[smartcode_project:default project_id=9302 project_image_fid=29318]

Due for completed in early 2024, Surry Hills Village will home 122 apartments and a 102-room hotel, as well as 12,000 sqm of commercial and retail spaces.

SJB Architects has designed the development in collaboration with development partners Iain Halliday and BKH,&nbsp;Aspect Studios&nbsp;director Sacha Coles and Studio Prineas architect and principal Eva-Marie Prineas.

TOGA are also 50 per cent sold at their Marrickville development, Wicks Place, which will have 272 apartments atop a number&nbsp;of retail spaces when complete in late 2023.

There&#39;s a site TOGA are working on in Penrith, as well as a 150-apartment project&nbsp;in Kensington, which they are hoping to launch in Q1 2022.

Urban takes a look at ten developers operating in the NSW that you should keep an eye on in the new year. 

The top eight apartment developers to look out for in NSW in 2022

Developer Mayrin Group&#39;s latest apartment development, Verset, has been strategically located in the hear of Rouse Hill, in Sydney&#39;s growing north-west precinct.

Verset enjoys the best that the north west has to offer, in close proximity to business, transport, health and education.

Situated at Adonis Avenue, Verset&#39;s individual buildings are divided by pergola-shaded courtyards, with landscaped pathways, lush plantings and calming spaces.

A collection of low-rise buildings, each with a boutique feel, Verset boasts a collection of one, two and three-bedroom apartments with spacious floorplans.

Many of the apartments encompass versatile media areas or studies that can be used as desired and all feature security parking with lift access.

[smartcode_project:default project_id=24445 project_image_fid=175482]

Interiors include free-flowing entertainment spaces, sophisticated finishes and sun-soaked spaces thanks to floor-to-ceiling windows.

Apartments floor into generous gardens and covered terraces to respond to indoor-outdoor living, while courtyards feature a children&rsquo;s play area and barbeque facilities.

The kitchens boast a streamlined design, and integrate a warm, tonal palette with high-quality features and finishes.

Among these include engineered stone benchtops, breakfast bars and quality stainless steel appliances.

Bathrooms are defined by clean lines and clever use of space, finished with hardwearing porcelain tiles with a bold feature wall for visual impact.

[smartcode_project:default project_id=24445 project_image_fid=175483]

In the bedroom, Verset residences include mirrored built-in robes and intelligently-designed ensuites.

According to the developers, Rouse Hill is blessed with plenty of recreational attractions, from parks and playgrounds to sporting fields and cycle paths.

Nearby schools, both private and public, are reputable, with Western Sydney University also conveniently close by, reflecting the family friendly nature of the area.

Verset is just a 10 minutes&rsquo; walk from the nearby metro station and the Rouse Hill Town Centre, a bustling retail hub poised for a further $300 million expansion.

Nearby Norwest Private Hospital is set to undergo a major upgrade and there are also plans to construct a brand new $300 million hospital nearby on Windsor Road.

[smartcode_project_cta: project_id=24445]

A collection of low-rise buildings, each with a boutique feel, Verset boasts a collection of one, two and three-bedroom apartments with spacious floorplans

How Rouse Hill apartment development Verset takes advantage of its prime north-west Sydney location

There are five reasons to expect a further slowing in the national average home price growth next year, which will follow by a peak in prices sometime in the second half of 2022, and then falling prices in 2023, according to Dr Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital.

"We remain of the view that we may be getting closer to the end of the 25-year bull market in property prices," he said.

He suggests firstly worsening affordability is constraining more buyers. Affordability has long been an issue in the Australian property market, he noted.

"While interest rates are still low the surge in house prices relative to wages has gone hand in hand with a surge in the level of debt relative to incomes. 

"That now means that it takes 8 years to save for a deposit in Sydney and 7 years in Melbourne.

"This is now squeezing out first home buyers yet again (which has seen their share of new housing finance fall from 25% to 18% since December) and increasingly existing owners looking to trade up are being squeezed out as well. 

"This is particularly an issue in Sydney and Melbourne and partly explains their slowing relative to other cities.

Secondly Oliver noted the supply/ demand balance is starting to improve. 

"Supply is on the rise again reflecting pent up selling, the end of lockdowns and high prices. 

"This could start to reverse the chronically low level of listings seen over the last 18 months. 

"More fundamentally strong levels of home building over the last two years following the unit building boom since 2015, combined with the absence of immigrants - which has resulted in a slump in underlying housing demand - have started to see the underlying supply/demand balance come under control," he noted. 

Thirdly Oliver noted rising interest rates will reduce the amount new borrowers can borrow and hence pay for dwellings. 

"Fixed mortgage rates are already on the rise (with several banks increasing them by 0.5% or more) and the RBA is expected to start raising the cash rate (and hence variable mortgage rates) from late next year. Rising interest rates are likely to be a big dampener. 

"The collapse in fixed rates to 2% or less played a big role in the recent boom. 

"Fixed mortgages have accounted for 50% or so of new loans recently, so are far more significant than they used to be in impacting new buyer demand (even though there is no impact on existing fixed borrowers until they roll off current terms which may become an issue next year)," he noted.

Fourthly Oliver noted macro prudential tightening is reducing the amount new borrowers can borrow and pay for homes. 

"So far APRA has told banks to increase the interest rate serviceability buffer they apply to borrowing rates in assessing borrowers from 2.5% to 3% and are now moving to require banks to hold more capital for higher risk loans. 

"The former will reduce the amount borrowers can borrow and the latter will raise the interest rate on or reduce the supply of higher risk loans. 

"Further tightening measures are possible."

Finally Oliver noted a rotation in consumer spending back towards services as reopening occurs (covid and the Omicron variant permitting) may reduce housing demand.

He noted there had been a "sharp loss of momentum since March" as a result of worsening affordability, rising supply, rising rates, macro prudential tightening and some eventual rotation in spending away from housing. 

"We expect a further slowing in home price gains to 5% in 2022, with prices likely to start falling from around September/October next year resulting in a 5 to 10% decline in prices in 2023," he said.



Oliver said the anticipated gradual recovery in immigration may take pressure off capital city prices.

jchancellor-FAypfDUnLy

Five reasons to expect a cooling in the property market: Shane Oliver

Quartz Apartments is an exclusive, new boutique development in Sydney&rsquo;s south-west suburb of Belmore, offering a limited release to the market.

Delivered by Pheonix Builders, Quartz&nbsp;boasts the rare opportunity to purchase a brand new, architecturally-designed apartment in Belmore.

Completed last year, the development features 35 generous oversized units in one and two-bedroom configurations, as well as four retail offerings on the ground floor.

Centrally located in heart of Belmore&rsquo;s shops and caf&eacute;s, the boutique block has been designed to incorporate the natural surrounds through open living spaces and timber flooring.

<img alt="" height="1187" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/belmore2.jpg" width="2096" />

Each residence has been developed using star-rated products and materials with a focus on sustainable features, such as natural airflow.

Interiors boast thoughtfully considered finishes and fittings, floor-to-ceiling sliding doors and a well-appointed kitchen.

Situated 14-kilometres south-west of the Sydney CBD, Belmore is within walking distance to great food, interesting cultures, a sense of history and fantastic transport options.

Quartz Apartments is located only 200-metres from the Belmore railway station, while the Canterbury Leagues Club and RSL are only metres away.

[smartcode_project:default project_id=6694 project_image_fid=24912]

A great selection of schools is also close by, including the top-performing Al Noori Muslim School, All Saints Grammar and St Joseph&#39;s Primary School.

&ldquo;Food and family are intertwined in Belmore,&rdquo; the project marketing reads.

Many family-run restaurants can be found within the postcode, from Chinese, Lebanese, Greek, Thai and Italian, all available on the vibrant Burwood Road.

The development will make a great new home for first home buyers or investors looking to invest in a fast-growing suburb.

[smartcode_project_cta: project_id=6694]

Quartz Apartments is an exclusive, new boutique development in Sydney’s south-west suburb of Belmore, offering a limited release to the market

Quartz brings rare new apartments to Belmore in Sydney’s south-west 

Punchbowl, a southwestern suburb of Sydney, is one of the Sydney&rsquo;s last suburbs where it is cheaper to buy than rent.

One of the most recently completed apartment developments in Punchbowl is TRENT, with developer&nbsp;Piper Property Group advising buyers they can secure&nbsp;4.5 per cent gross returns.

TRENT&#39;s prime location, just 17km from Sydney&rsquo;s CBD with direct rail or 19.2km via the A4, makes it a highly sought-after development.

[smartcode_project:default project_id=93137 project_image_fid=162062]

According to the developers, Punchbowl has been tipped as the next property hotspot. They&#39;ve compared it to the likes of Redfern and Tempe.

It is $7 a&nbsp;week cheaper to buy than rent in Punchbowl, according to a weekly difference between buying and renting report from Domain.

TRENT offers a limited selection of 39 brand-new one and two-bedroom apartments, as well as one commercial retail space on the ground floor.

[smartcode_project:default project_id=93137 project_image_fid=162058]

Located in a leafy corner of Punchbowl in Sydney&rsquo;s thriving west, thoughtful architecture has been combined with innovative design to present unmatched style and value.

Bright and light living spaces, striking designer kitchens, private bedrooms and perfectly appointed bathrooms are complemented by enclosed winter garden balconies and open terraces.

The generous living area boasts an abundance of space, natural light and ample storage throughout.&nbsp;

[smartcode_project:default project_id=93137 project_image_fid=162059]

Each apartment features gourmet kitchens, fully tiled bathrooms and a secure car space, as well as residents&rsquo; roof terrace with barbeque facilities.

Close to great shopping and retail, multi-cultural dining, and parks and reserves, TRENT offers affordability at no expense of comfort.

The development was completed in February 2021 and is ready to move in.

[smartcode_project_cta: project_id=93137]

Investors and first home buyers can secure a property in one of Sydney’s last suburbs where it is cheaper to buy than rent at TRENT in the southwestern suburb of Punchbowl.

Sydney

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