Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Sydney

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If online listings are any guide, the rental market in Sydney has been tightening lately, with fewer rentals being advertised across a high number of suburbs.
According to the REINSW inner Sydney vacancy rates were unchanged in August at 1.9 per cent, but middle ring Sydney tightened by 0.3 per cent to 1.6 percent, while outer Sydney's vacancy rate of 1.7 per cent was the lowest since November 2015.
<a href="/images/2016/09/23/B1-1.jpg" target="_blank">Click to enlarge</a>
<div id="x_post-body-4479739622962738159" class="x_post-body x_entry-content">
<div class="x_separator"><img src="/images/2016/09/23/B1-1.jpg" alt=""></div>
 <div>Smoothing the figures on a 4mMA basis to nip out a bit of the noise shows that Sydney vacancy rates have been fairly flat over the past year in the middle and outer ring, but are some way tighter in the inner suburbs.</div>
<div> </div>
<div><a href="/images/2016/09/23/B2-1.jpg" target="_blank">Click to enlarge</a></div>
 <div class="x_separator"><img src="/images/2016/09/23/B2-1.jpg" alt=""></div>
<div> </div>
<div>The vacancy rate in Newcastle has sneaked back up to 3 percent.</div>
<div> </div>
<div>The Tenants' Union (TU) Rent Tracker found that Sydney unit rents moved 5 percent higher over the past year, while house rents were 3 percent higher. </div>
<div> </div>
<div><a href="/images/2016/09/23/Rents1.jpg" target="_blank">Click to enlarge</a></div>
 <div class="x_separator"><img src="/images/2016/09/23/Rents1.jpg" alt=""></div>
 <div>Rents have moved sharply higher in Randwick and Woollahra over the past year according to the TU, but regional areas have been found to be "much more stable".</div>
<div> </div>
<div>The TU believes that the CPI measures understate Sydney's rental price growth. Their long run data also shows Sydney rents rising much faster than inflation.</div>
 <div class="x_separator"><a href="/images/2016/09/23/A4.jpg" target="_blank">Click to enlarge</a></div>
<div class="x_separator"><img src="/images/2016/09/23/A4.jpg" alt=""></div>
<div class="x_separator"> </div>
<div class="x_separator">According to the TU over the last 20 years new rents have generally increased at an average of around 8 per cent across Sydney and 5 per cent across the rest of New South Wales.</div>
<div class="x_separator"> </div>
<div class="x_separator">
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>.
</div>
</div>
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pwargent-M4siyDbqQY

Sydney vacancy rates tighten again

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Over recent weeks, auction clearance rates across the nation’s two largest housing markets (Sydney and Melbourne) have been significantly lower than they were 12 months ago however, they haven’t necessarily been all that much lower than the previous years.  While comparing auction volumes and clearance rates to a year ago is valuable, it is much more valuable to look at how these metrics compare across a number of years.
<h3>Melbourne</h3>
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-11/2017-11-27-blogimg1.png" alt="2017-11-27--melbourneweeklyauctionclearancerates" width="570" height="214">
Auction clearance rates in Melbourne are currently substantially lower than they were a year ago.  In fact, the clearance rate of 66.9% last week was the lowest since July of last year.  Although clearance rates are lower than they were a year ago, they are at fairly similar levels to what was being recorded at the same time of year in 2013, 2014 and 2015.  The chart really highlights just how much stronger the auction market in Melbourne was a year ago relative to other recent years.
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-11/2017-11-27-blogimg2.png" alt="2017-11-27--melbourneweeklyauctionvolumesoverrecentyears" width="570" height="214">
  The volume of properties being taken to auction, particularly over recent months, has generally been higher than over recent years.  By comparison, in 2016 when clearance rates were much higher than they have been this year, the number of properties being taken to auction was relatively lower than over recent years.  The higher number of properties being taken to auction is likely to be having some impact on the weaker clearance rates this year relative to last however, volumes are also much higher currently than they were in 2013, 2014 and 2015 a time at which clearance rates were fairly similar to current levels. Given this, clearance rates are actually holding up quite well considering much higher volumes of auctions.
<h3>Sydney</h3>
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-11/2017-11-27-blogimg3.png" alt="2017-11-27--sydneyweeklyauctionclearancerates" width="570" height="214">
Auction clearance rate in Sydney have been at their lowest levels since 2012 over recent weeks and have been on a steady decline throughout 2017.  If you exclude the low volumes in January, last week’s auction clearance rate of 54.8% was the cities lowest clearance rate since December 2015.  Clearance rates have not been consistently as low at this time of year since 2012.  Clearance rates are substantially lower than they were a year ago and are also slightly lower than they were two years ago when APRAs first round of macroprudential policies were significantly impacting Sydney housing demand.  If the previous round of macroprudential policies is a guide we can expect a further weakening of clearance rates over the coming weeks.
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-11/2017-11-27-blogimg4.png" alt="2017-11-27--sydneyweeklyauctionvolumesoverrecentyears" width="570" height="214">
  Unlike Melbourne, Sydney is not seeing a substantially higher number of properties being taken to auction compared to recent years.  In fact over recent weeks there has been an equivalent number of auctions across the city to volumes last year when clearance rates were much higher than they are currently, while there have been fewer auctions than in 2015 when clearance rates were similarly weak.  
There has been clear evidence over recent weeks that auction clearance rates have softened in Sydney and Melbourne.  The falling clearance rates in Sydney are occurring on similar volumes of auctions to recent years but matches the recent declines in dwelling values.  In Melbourne, auction clearance rates have slowed and there has also been a moderate slowdown in value growth.  The big difference in Melbourne has been that auction volumes have been much higher so it is difficult to know if the weaker clearance rates are because of the market overall or due to their being too much stock being put up for auction each week. Keep in mind that clearance rates typically soften through Spring as auction volumes increase so we may have to wait until 2018 to truly understand what is driving the apparent weakness in the Melbourne auction market.
Cameron Kusher is head of research for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

What is driving the clearance rate weakness in Sydney and Melbourne? Cameron Kusher

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<div>There's quite a bit been said on the apparent mass exodus from Sydney.</div>
<div> </div>
<div>Again, there's a strong element truth to this story.</div>
<div> </div>
<div>But it's equally important not to take away the wrong visual image from this. </div>
<div> </div>
<div>The fact is, New South Wales always loses people interstate, and it always will, largely to Brisbane, south east Queensland, and even to Melbourne.</div>
<div> </div>
<div>In reality, though, the numbers leaving the state on a net basis were dramatically lower in the 2011-2016 Census period than they were in the preceding five years. And they were much, much lower than they were in the five years before that, with net interstate migration tracking at way under the half the rate of seen from 2001 to 2006.</div>
 
<div class="separator"><a href="https://1.bp.blogspot.com/-tkZj2K3gX30/We7_dSCSWdI/AAAAAAAAmug/igPMz15WmG8_HIPuqq8mUqdxzrGXqo71gCLcBGAs/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-tkZj2K3gX30/We7_dSCSWdI/AAAAAAAAmug/igPMz15WmG8_HIPuqq8mUqdxzrGXqo71gCLcBGAs/s640/A1.jpg" width="640" height="396" data-original-height="831" data-original-width="1343"></a></div>
 
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To the regions... Now it's true that more people, especially Baby Boomers, have been taking their newly-boosted Sydney equity to move out to regional New South Wales, such as to the Hunter Valley, or to the South Coast.</div>
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<div>However, this has been offset by a marked <a href="https://petewargent.blogspot.co.uk/2017/09/population-growth" target="_blank">increase in immigration to Sydney</a>, as migrants seek employment opportunities. The harbour city of Greater Sydney is growing at a faster pace than previously, probably now at somewhere close to 100,000 per annum, which is well ahead of the decade average.</div>
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<div>This will presumably continue for as long as Sydney continues to create <a href="https://petewargent.blogspot.co.uk/2017/09/jobs-boom-to-continue" target="_blank">record job openings</a>. </div>
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<div>The net impact of this dynamic - high immigration and resident Sydneysiders moving outwards or interstate - is that Sydney has a substantial foreign-born population (which now comprises more Chinese-born residents than British-born, a remarkable statistic in its own right). There's plenty of disingenuous 'analysis' of the capital city economies, focusing on resources exports and ignoring services exports, for example, while also ignoring Australia's record levels of household wealth and the comparative improvement in standard of living for so many immigrants. The Productivity Commission ("PC") has delivered another long report on the importance of the large cities to Australian wealth, and why services industries and employment growth fare best within them, in part due to proximity to other businesses and labour supply. The fact is that over the most recent year Sydney (38.6 per cent) and Melbourne (28.4 per cent) have unsurprisingly dominated contributions to Australia's GDP growth, according to analysis by Terry Rawnsley of SGS Economics &amp; Planning. Challenges abound
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<div>All of the above having been said, it's reasonable expect to see interstate migration to south east Queensland accelerating again over the next five years. One of the most noteworthy challenges identified by the PC is that about 60 per cent of new jobs are created within 10 kilometres of the Central Business Districts, but housing supply in those locations is not keeping up with this pace of growth by about half. The PC found that most jobs that can be reached within 45 minutes by car are located in the inner city, while on the city fringe this is the case for fewer that 20 per cent of jobs.</div>
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<div>By 2050 an additional 10.8 million people are projected to be living in Australia's capital cities, as well as an extra 2.4 million people in the non-capital city areas. </div>
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The population exodus from Sydney: Pete Wargent

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EXPERT OBSERVATION
School catchments have always been important in driving demographics, and how and where families choose to live.
But as the capital cities become denser, this will become more and more so the case.
In Sydney and Brisbane we are now seeing the advent of high-rise inner-city high schools, which is something perhaps more readily associated with countries such as Japan, or elsewhere in Asia.
At the Inner Sydney High School site in Surry Hills, the 14-storey school with a tech and science focus is under construction, but isn’t due to open until 2020.
Yet already applicants from outside the catchment area are being sidelined onto a waiting list.
<img src="https://gonextlevelwealth.com.au/wp-content/uploads/2019/10/Catchment.jpg">
Aspirational parents will have a natural desire for their children to be able to access the high-tech facilities and state-of-the-art modern classrooms, and as such we can reasonably expect that they’ll move heaven and earth to achieve that end.
When fully constructed the Inner Sydney High School will provide education for 1,200 students.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. 
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Why school catchments are becoming critical: Pete Wargent

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Sydney’s fast pace population growth is set to come to an abrupt halt. The recent closing of borders and after the restrictions that will follow the COVID-19 pandemic will stop most of it.
For the past half century demand for housing and the accompanying property price growth has been driven in part by population growth.
The latest government estimates suggest the key driver is going to fall sharply over the next year or so.
The disruption will show up in many ways.
Short term tourists have disappeared, but will return.
The weakness in short-term tourist arrivals will hit the domestic tourism industry, though will likely be offset in part by more Australians travelling at home when domestic travel restrictions are lifted in stage two.
Large numbers of temporary residents from overseas have departed, but only a trickle will return any time soon. Ditto temporary working visas.
The fall in numbers of international students on visas will likely not see a return to recent levels anytime over the coming year.
The downward pressure on rental price growth that landlords have seen in recent weeks will likely be extended unless Australia’s sustained comparative advantage as an education and tourism destination returns quickly.
The Government estimates long-term migration arrivals could fall by around 300,000 over the next 18 months, with a drop of 72,000 in the first half of this calendar year and another 204,000 in the 2020/21 financial year.
According to UBS Australia's population growth is forecast to slow to just 0.5 percent in 2020.
This is the slowest pace since 1916, according to economists.
The recent average has been between 1.5 percent to 2 percent per year.
Scott Haslem at Cretonne Wealth Management says at the positive end a temporary pullback in migration flows could provide some time for infrastructure works to "catch up" over the next 18 months.
But for residential housing, the weakness in migration is a significant headwind.
UBS estimates there will be a fall in underlying annual housing demand from around 200,000 to only around 130,000 in the near term - before recovering towards 190,000 by the end of 2022.
This drop in dwelling commencements will mean fewer tradies in work which spells wider problems for the economy.
Construction has continued during the shutdown so employment has not yet been impacted like many other industries.
Lower population growth, from fewer arrivals from overseas, will be accompanied by an emerging drop in the nation's fertility rate currently averaging 1.7 children per couple.
Births falling by 2 per cent to 91,376 in NSW last year.
We are set to enter an ongoing debate especially on the role of temporary migration.
Temporary migration is certain to look different over the next few years than it has over past few. 
That’s its purpose – to adapt to changing circumstances, Monash academic Gabriela D'Souza recently noted.
But the Investec fund manager Graeme Katz recently warned pushing back against immigration as a “seriously short sighted view”.
“Our country needs to send a signal that we’re open for people, we’re open for capital, and we’re open for business, and provide the productive environment for job creation and growth,” he said.
“Only growth will provide the environment for job security, which in turn creates a confidence of consumers to spend and the multiplier flow on ... will provide a tax base to support a well-balanced economy and society,” he said.
This article first appeared in The Daily Telegraph
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jchancellor-FAypfDUnLy

Sydney's population growth set for abrupt Covid-19 induced halt

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EXPERT OBSERVER
Sydney has been the market most visibly impacted by the Covid-19 period. The number of growth suburbs has dropped sharply and danger markets have doubled.
While other major cities have been notably resilient in the face of the virus crisis, Sydney’s statistics on sales trend and vacancies have deteriorated significantly – although prices in many markets sectors remain resilient.
In our previous (Autumn 2020) quarterly survey, we reported “the strongest Sydney market we have recorded in the five years we have been conducting our quarterly sales surveys”.
But our latest (Winter 2020) survey shows the number of suburbs with rising buyer demand has dropped from 67 to 24, while the number of suburbs we classify as danger markets has increased from 12 to 24.
This coincides with a marked increase in vacancy rates in many parts of the Greater Sydney Area. Sydney overall has the highest vacancy rate among the capital cities and the inner-city postcodes have recorded a major blowout, caused primarily by investors who had previously used short-term letting methods like Airbnb.
Sydney is also most impacted by the shutdown of international travel and overseas migration.
The Covid-19 impact has been a particular blow to Sydney markets because in late 2019 and early 2020 there was a notable revival after a prolonged slump throughout 2018 and most of 2019. Our Autumn 2020 survey showed Sydney surging back to a position of strength, with sales activity and prices rising, only to be sabotaged by the virus crisis.
The most visible manifestation of the Covid-19 downturn comes from the number of suburbs we classify as danger markets. These are locations where a decline in sales activity has coincided with a major blowout in vacancy rates, factors which have greatly impacted locations dominated by apartments - and 16 of the 24 danger markets are in the Sydney City and Parramatta municipalities.
The eight danger markets in the Sydney City LGA include Pyrmont, Ultimo, Waterloo, Haymarket, Forest Lodge, Chippendale and the Sydney CBD - while Glebe, Woolloomooloo and Erskineville are classified as declining markets.
The Parramatta LGA also has eight danger markets: Carlingford, Epping, Harris Park, Lidcombe, North Parramatta, Parramatta, Rosehill and Wentworth Point.
On the positive side of the ledger, there are precincts which are showing a high level of resilience – notably two municipalities in the south of Sydney, Georges River and Sutherland.
The LGA of Sutherland is the market leader in this coronavirus period, with three growth suburbs (Menai, Engadine and Miranda), five consistency markets and none classified as declining or danger. This precinct offers a great lifestyle based on water and national park access, plus lower prices than the suburbs of the inner west and north shore.
In terms of growth markets, quarterly sales in Engadine have been 42-58-73-76, while Menai sales have been 30-41-45-42-50.
The nearby Georges River LGA has two growth suburbs (Allawah and Peakhurst), three consistency suburbs and none classified as declining or danger.
Penrith is another standout, because of the high number of consistency suburbs and the absence of declining or danger markets. In the suburb of Penrith, quarterly sales have been 60-73-85-92-103-112, a pattern that has defied the broader trends.
In the more upmarket sectors, the Northern Beaches has two growth suburbs, (Balgowlah and Dee Why), six consistency markets and none ranked as declining or danger. Frenchs Forest and Freshwater rank nationally for their high level of consistency over several years, regardless of the broader market trends.
The Waverley LGA also has been quite steady, with sales in North Bondi quarter by quarter being 30-39-40-51-45-46-56.
Other upmarket precincts showing steadiness in the face of negative forces include the Woollahra and Ku-ring-gai municipalities.
Notwithstanding the destructive impacts of the virus crisis, Sydney has recently shown a notable level of resilience in terms of prices.
While only 25% of house markets and 27% of apartment markets have recorded annual growth in their median prices, 84% of house markets and 75% of apartment locations have delivered growth in the most recent quarter.
This reflects the recovery in prices that was under way as we entered the Covid-19 period and the strong price resistance shown by many Sydney markets during the shutdown phase.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Sydney property market hit hardest by coronavirus crisis: Hotspotting's Terry Ryder

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Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets that are under pressure from sharply reduced demand and surging supply particularly from previous holiday accommodation now converting to the permanent market. Conversely house rents are on the rise Indicating perhaps Increased demand for larger, outer suburban homes.

Sydney average asking rents for units fell by 2.3% over November but rents for houses Increased sharply by 2.5%. Perth rents continue to rise for both houses and units. Capital city rental markets continue to report diverging results with significantly lower and falling vacancy rates for houses offset by higher rates for units. This reflects sharply falling demand and increased supply of units - particularly in inner-city Sydney and CBD Melbourne.

HOUSE AND UNIT RENTAL VACANCY RATES 

Reflecting rent declines In the unit market, vacancy rates continue to Increase In Melbourne and Sydney - remaining at record levels. Vacancy rates for houses are significantly lower in all capitals by comparison with units and likely to continue to place upward pressure on rents.

HOME LOANS 

ABS home lending data reported another Increase over October with owner-occupier loans continuing at unprecedented levels. Total residential lending increased by 1.1% over October and has risen by 16.8% over the first 10 months of this year compared to the same period In 2019. All buyer types reported increases over October however, remarkably, lending for first home buyers now exceeds that reported for Investors. All states, with the exception of Victoria reported Increases In the total value of housing loans approved over October. Similarly, only Victoria failed to record an Increases In first home buyer lending over October, falling by 5.9%.

Although lending for first home buyers has surged this year driven by numerous state and federal government Incentive policies, levels remain well below those recorded during the post GFC revival period In 2009-10. Lending for new home building continues to be a significant contributor to the recent surge In home lending reflecting In particular the Impact of the recently extended federal government HomeBuilder policy.  Victoria continues to clearly record the highest number of loans for home building followed by QLD and WA.

HOME BUILDING 

The surge In lending for home building Is also been reflected In rising house building activity over recent months. Latest ABS building approvals for October were however lower in Sydney and Melbourne over the month but significantly higher In Brisbane and sharply higher In Perth.  Despite recent rises In home building approvals, underling levels, particularly for units, remain well below previous peak levels.
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Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets, according to Archistar's Chief Economist Andrew Wilson.

urban.com.au

Unit rents continue to fall across Melbourne and Sydney

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The combined capital cities are expected to see auction activity ramp up over the week, with a total of 2,593 properties set to go under the hammer, according to CoreLogic data. This week’s scheduled volumes are 24% higher than last week’s final figures which saw 2,085 auctions held. Plus this time last year, a higher 2,804 homes were taken to auction across the combined capitals.

There are over 1,000 homes set to be taken to auction across each of Australia’s two largest auction markets this week. Melbourne is expected to be the busier of the two with 1,153 properties scheduled for auction, an increase of 28% on last week. Sydney isn’t far behind with a total of 1,037 auctions scheduled to take place, an expected rise of almost 20%.

While activity across Melbourne has certainly bounced back from the lows seen throughout most of the second half of the year, volumes are still below 2019 levels with 1,405 homes taken to auction over the same week last year. Meanwhile one year ago in Sydney, volumes were lower at 875.

The remaining smaller markets are all expected to see a rise in activity over the week, with Brisbane set to be the busiest of the smaller cities with 147 auctions scheduled to take place. This is followed by Canberra (115), Adelaide (101), Perth (36) and Tasmania (4).

One example of a property headed to auction in Melbourne this weekend is an apartment at 705/547-551 Flinders Lane. The one-bedroom, one-bathroom apartment in Docklands sits on the top floor of Morgan Place. It goes to auction with a guide of between $291,000 and $320,000.

The apartment sits near the Docklands project Melbourne Quarter at 628 Flinders Street, developed by Lendlease. The Fender Katsalidis-designed East Tower has 719 apartments, a mix of one and two bedrooms which are for sale starting from $458,000. 
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There are over 1,000 homes set to be taken to auction across each of Australia’s two largest auction markets this week.

Auction volumes up 20% or more across Melbourne and Sydney 

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The penthouse at Fortis’ No.1 Carlisle development in Sydney’s Rose Bay, which was rumoured to have sold for an impressive $7.5 million last month, sold in less than three hours of launch.

Ray White agents Michael Finger and Di Wilson are rumoured to have secured $39,000 per sqm for the three-bedroom, two-bathroom apartment.

Situated on the top floor of the four-storey 1 Carlisle Road complex, the development offers direct lift access into the private lobby, an entertainers’ terrace and built-in living joinery.

Designed by MHNDU and Lawless &amp; Meyerson, the home utilises layered natural materials and an architectural design that pays homage to the Art Deco period.

“There’s a recurring linear texture echoed around the apartment through fluted glass and routed stone”, said Jo Lawless of Lawless &amp; Meyerson.

The penthouse includes an entertainer’s kitchen, gas fireplace, butler’s pantry and skylights. Other features within the home include a privately-landscaped rooftop terrace styled by Wyer &amp; Co landscape architects.

Construction on the project is expected to reach completion in early 2022.

<h2>Rose Bay luxury residences</h2>

The downsizer market in Rose Bay has boomed with many developments gracing the eastern Sydney suburb. These include the recently sold-out Newcastle Street development, The Benson and Richmond Rose.

<figure><a class="colorbox colorbox-insert-image" href="/buildings/the-benson-33-newcastle-street-rose-bay?last_source_news_article_id=41288&amp;ref=news_related_project" rel="gallery-all" title="The Benson"><img alt="" class="image-article-full-width-580px" height="481" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the-benson-33-newcastle-street-rose-bay-64799b46e7e39113cb2e87135af83a7d.jpg?itok=HEYEdtMw" title="The Benson" width="580"></a>

<figcaption>The Benson</figcaption></figure>Developed by Fortis, prices at the nine residence Benson project equated to $30,000 per sqm, with designs also completed by MHNDU and Wyer &amp; Co. The home’s interiors, which offered contemporary design, quality fixtures and pale-oak flooring, were designed by Hecker Guthrie.

Veteran children’s TV presenter Don Spencer purchased in the development just last month.  

Richmond Rose, developed by Kew Prestige, continues to offer available apartments at their 6-8 Richmond Road site.

<figure><a class="colorbox colorbox-insert-image" href="/new-apartments/6-8-richmond-road-rose-bay" rel="gallery-all" title="Richmond Rose"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/richmond-rose_outside_lge-scaled.jpg?itok=cgwWtAp-" title="Richmond Rose" width="580"></a>

<figcaption>Richmond Rose</figcaption></figure>Two three and four-bedroom apartments sit on each level, featuring open-plan dining, a pet wash bay on the ground floor and Tesla battery for power storage.

Lush balcony landscaping seems to be a feature of all new Rose Bay developments with The Aristocrat of Rose Bay also featuring foliage in the design.

Located at 62A Dover Road, the Aristocrat offers 22 two and three-bedroom configurations, a grand lobby, communal courtyard, a pool and a gym. Designed by PBD Architects, the homes include quality joinery, open-plan living and dining, spacious balconies and herringbone floors.

<figure><a class="colorbox colorbox-insert-image" href="/buildings/the-aristocrat-of-rose-bay-62a-dover-road-rose-bay?last_source_news_article_id=41288&amp;ref=news_related_project" rel="gallery-all" title="The Aristocrat"><img alt="" class="image-article-full-width-580px" height="398" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the_aristocrat.jpg?itok=OSf3L21a" title="The Aristocrat" width="580"></a>

<figcaption>The Aristocrat</figcaption></figure>Rose Bay is located just seven kilometres east of Sydney and these developments provide evidence of the demand for new luxury developments in the area.
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The downsizer market in Rose Bay has boomed with many developments gracing the eastern Sydney suburb

max.kwok_55688

Rose Bay's No.1 Carlisle penthouse sells within three hours

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Entering the Sydney market as a first home buyer can seem like a daunting task and finding affordable housing in NSW's capital often proves difficult, especially when you don't know where to look.

If you're a first home buyer or your budget is on the tighter side, here are six residences you can get for $600,000 in Sydney and its surrounds.

1. <a href="/buildings/vicinity-point-30-32-guess-avenue-wolli-creek">Vicinity Point, Wolli Creek</a>

One-bedroom apartments from $465,000 
Address: 30-32 Guess Avenue, Wolli Creek NSW 2205

<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/2016563265_1_1_201019_044310-w1600-h1200.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/2016563265_1_1_201019_044310-w1600-h1200.jpeg?itok=FrbuhJiz" width="580"></a> <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/vicinity-point-30-32-guess-avenue-wolli-creek-08ae804af7915941dbf2e9b21f3f7993.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/vicinity-point-30-32-guess-avenue-wolli-creek-08ae804af7915941dbf2e9b21f3f7993.jpg?itok=obzOFLh6" width="580"></a>

In Sydney, scoring an apartment for less than $500,000 is a steal – and just 15 minutes from Central Station sits Wolli Creek’s luxury development, Vicinity Point, at a price range that will suit the budget of first home buyers.

Located near the Cooks River, Vicinity is offering a one-bedroom, one-bathroom residence with a car space at $585,000 or without the car space at $465,000.

The modern apartments are “strikingly contemporary”, the marketing reads, offering stylish kitchens, neutral colour palettes and oversized terraces. Developed by Level 33, Vicinity Point is located nearby riverfront parkland, cycleways and Kogarah Golf Club.

2. <a href="/buildings/bloom-arncliffe-213-princes-highway-arncliffe?last_source_news_article_id=39412&amp;ref=news_related_project">Bloom Arncliffe, Arncliffe</a>

One-bedroom apartments from $595,000 
Address: 213 Princes Highway, Arncliffe NSW 2205

<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/imagegen.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="368" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/imagegen.jpeg?itok=SLUzfm9I" width="580"></a>

Bloom Arncliffe features timeless design by EJE Architecture, offering a selection of one, two and three-bedroom ready-to-go apartments from $595,000. Located closeby Sydney’s southern beaches, the project is perfect for a first-time owner or smart investor.

The one-bedroom apartments offer sweeping views of the Sydney CBD and Botany Bay, floor-to-ceiling sliding doors and a private balcony, and features onsite amenity including a ground-floor marketplace with restaurants.

3. Central at the Langston, Epping

One-bedroom apartments from $590,000 
Address: 12-22 Langston Place, Epping

<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/cbus6315.9-roi_renders-domain-1440x1080-4_1200x550.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="266" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/cbus6315.9-roi_renders-domain-1440x1080-4_1200x550.jpg?itok=NJIxUyoc" width="580"></a>

The Langston community at Epping is set to become a vertical village, with exercise, shopping and co-working facilities, built on Epping’s highest vantage point. Central is the project’s second stage, offering a new 24-storey tower with the majority of apartments priced for first home buyers.

A one-bedroom, one-bathroom apartment at Central is priced from $590,000, offering amenities such as podium-level gardens, a wellness hub, pool deck and sky lounge. These apartments are also eligible for the NSW Government’s $10,000 first home owner grant, as well as other first home buyer schemes.

4. <a href="/buildings/kew-schofields-stage-1-rose-garden-23-27-schofields-road-schofields">Rose Garden, Kew Schofields</a>

Two-bedroom apartments from $495,000 
Address: 23-27 Schofields Road, Schofields NSW 2762

<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/kew-schofields-23-27-schofields-road-schofields-a22ac95f9735b71a52863378df6a8e35_0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/kew-schofields-23-27-schofields-road-schofields-a22ac95f9735b71a52863378df6a8e35_0.jpg?itok=xBisHZk5" width="580"></a>

Located in Sydney’s fast-growing north-western corridor, The Rose is positioned moments from Rouse Hill and the future Schofields town centre. Two-bedroom apartments in the project are priced from $495,000, and feature contemporary finishes, barbeque facilities and outdoor communal spaces.

Whilst Schofields may not be the most attractive suburb for the first home buyer, the suburb offers an affordable entry point for a two-bedroom apartment and has seen its population grow by over 30 per cent in the past five years. The median value for both houses and units have steadily risen and will most likely continue to, as the metro links the nearby Tallawong station to Sydney’s CBD.

5. Aura, Canterbury

One-bedroom apartments from $588,000 
Address: 396-398 Canterbury Road, Canterbury NSW 2193

AURA offers first home buyers the opportunity to live in the Inner West with entry prices under $600,000. A one-bedroom plus study configuration begins at $588,000 and includes contemporary design, entertainer’s balconies and large courtyards.

Designed by Glyde Architects, AURA includes expansive open district and city skyline views as well as designer stone kitchens and wood texture cabinetry throughout. A security storage cage is available for all residents, making the home a smart decision for owner-occupiers and downsizers.
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Here are five residences you can get for $600,000 in NSW's capital and surrounds.

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