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

Joel Robinson

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

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

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

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

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

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Sydney

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Like most other assets, transaction volumes for Sydney retail assets can be seasonal, however volumes are more likely to be a response to economic drivers, according to the latest report from valuation firm Herron Todd White.
The property valuation firm found, buyer activity for retail assets is typically a result of several factors. These include local businesses looking to purchase their existing tenancies, owneroccupiers wishing to secure their location, investors seeking retail assets with strong, long term lease covenants, and demand from developers wishing to secure and amalgamate sites.
Sales activity for retail is primarily driven by fluctuations in capital values.
In a strong market, investors typically look to capitalise on their investment and reinvest in other areas with greater growth prospects. In some instances we have also noted some businesses upsizing or expanding.
Conversely, some sellers are motivated by increasing vacancies and it is not uncommon to see a newly leased asset placed on the market for sale.
Increases in holding costs and perceived risks can also drive retail assets onto the market. The move to online shopping has forced some retailers to close storefronts thus increasing the sales volumes.
A driving factor of supply and demand for retail in some areas is the surge of residential property values which has coincided with an increase in the redevelopment of mixed use sites. This trend has been ongoing for some 10 years.
This surge in redevelopment has seen an increase in the supply of ground floor retail space, which is often required under the planning provisions. A good example of this trend can be seen across South Sydney, which saw a surge in retail supply when developments reached completion.
This has led to an oversupply of such stock, which has now been an issue in some areas for some five to ten years.
In other areas, adaptation to changing demands has resulted in renewed tenant demand. Examples of this can be seen in Redfern and Summer Hill. These two local retail precincts have traditionally been dominated by local businesses that service the local population and whilst this remains the case, both of these areas have seen an increase in demand as they become go to locations for small restaurants and bars.
HTW Valuers noted, "the COVID-19 pandemic continues to have implications for the Sydney retail property market. We are currently concerned about smaller retail precincts, particularly inner-city areas that rely heavily on food and beverage sales."
"Some areas have seen severe increases in vacancies. In other areas we are witnessing a slow return to normal with increases in trade leading to a revival and the slow reopening of some businesses."
"Overall, we are predicting rental reductions and an increase in required incentives in some areas, which we anticipate will result in a decline in capital values. Whilst there are currently few sales to demonstrate the impact the pandemic is having, some of those that have occurred have shown a decline in value."
"We have also noted an increase in properties available for both sale and rent in some areas and some difficulty with off the plan strata retail that is now coming up to settlement in a diminished market."
"We maintain the view that investment in retail assets will diminish as they are considered to be highly volatile and, as a result, we anticipate a decline in values. The retail market is facing a long recovery period for which we cannot know the full extent as yet", they concluded.
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j.ballantyne1990-6AQqhLzZaK

Investment in Sydney retail assets will shrink: HTW

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There are 968 capital city auctions being tracked by CoreLogic this week, increasing on the previous week when 816 auctions were held.
Over the same week last year, 1,983 homes were taken to auction across the combined capitals.
There are 726 Sydney homes scheduled for auction this week, increasing on both last week when 600 Sydney homes were taken to auction, and one year ago, when 646 auctions were held across the city. 
Melbourne auction volumes remain at levels usually only seen over the seasonally quiet early January period with just 14 auctions on the radar this week, compared to 13 last week. Over the same week last year 1,020 auctions were held across the city.
The REIV is expecting about 20 auctions this week, only slightly more than CoreLogic's figures.
Across the smaller auction markets, Canberra is set to hold the most auctions this week (74), followed closely by Adelaide (73). Brisbane is expecting to host 66 auctions, while Perth has 13 auctions on the radar. Once again, Tasmania is set to see just 2 properties up for auction.
<img src="https://www.urban.com.au/images/2020/9/18/CL%20SEPT%2018.JPG" alt="">
Australia’s largest property market is shaking off the cold weather as spring selling season continues to bring in premium stock for the leading agency.
In Sydney’s inner city suburbs, Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho said first home buyers have been lining up to inspect 5/191-195 Bridge Rd, Glebe (pictured in title).
The auction will be called by Ray White NSW CEO Jason Andrew. Mr Carvahlo noted that feedback has been at the $1 million to $1.1 million mark.
<img src="https://f.datasrvr.com/f1/220/74656/Petersham.JPG" width="640" data-imagetype="External">
The successful buyers may need to cool off at Bondi Beach after what is expected to be a hot auction 5/312 Bondi Rd.
The two bedroom apartment is being sold through Ray White Woollahra | Paddington Director of Sales Clay Brodie who said he has overseen roughly 100 inspections on the home.
“Buyers are interested in the beachside location but have also been really impressed by the scale and quality of the renovations the owners have done,” Mr Brodie said.
The Bondi Road apartment has a price guide of $1,100,000 and the auction will also be conducted by NSW CEO Jason Andrew.
Ray White Petersham Director Nicholas Arena has also had a huge amount of interest on 38a Constitution Rd, Dulwich Hill (pictured above) after more than 120 groups inspected the four bedroom home. Mr Arena said he is confident of a great result this weekend.
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Spring selling season is starting to show results in Sydney

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Apart from one standalone area, it is cheaper to buy a house in Greater Sydney than it is to rent, according to RiskWise Property Research.
Ryde is the only SA4 where the interest-only loan repayments for owner-occupiers in all of Greater Sydney are higher than the annual rent. In all other areas interest-only loan repayments are low, and in some cases well below the annual rent. There are also areas where only a small additional amount is required to also cover the ‘full mortgage’, i.e. both the principal and the interest repayments.
Co-founder of Buyers Buyers, an aggregator providing affordable buyer’s agency services to all Australians with its national panel, Pete Wargent said that while there are multiple factors that should always inform a buying decision, the buy versus rent equation has shifted this year due to lower mortgage rates.
“In the current environment prospective buyers need to consider the reliability of their employment and whether they have a reasonable buffer” Mr Wargent said.
“However, it’s clear that without as much from competition from investors many first-time buyers are now looking to get in”.
RiskWise CEO Doron Peleg said ultra-low interest rates had created a unique environment where buying a house in many areas was cheaper than paying rent on one.
He said in many areas, rent money was dead money, and that renters with secure jobs were better off buying a house than continue paying someone else’s mortgage.
“Except for Ryde, interest-only loan repayment amounts for owner-occupiers in Greater Sydney are below the equivalent annual rent, so it often makes sense to take advantage of the current ultra-low interest rates rather than continue to rent,” Mr Peleg said.
“In addition, except for in the Inner West, North Sydney and Hornsby, and Ryde, it's also cheaper to buy than rent for interest-only property investors in the whole of Greater Sydney, despite declining apartment rents in some areas”.
He said for principal and interest loans, owner-occupier repayments were higher than the annual rent of Greater Sydney, however, the monthly difference was less than $500 in five SA4 areas which included the Central Coast, with only a $15 difference, and outer suburbs such as Outer South West, Outer West and the Blue Mountains.
“Areas such as the city’s western suburbs and the Central Coast have enjoyed exceptional capital growth over the past 10 years with further positive projections in the medium to long term, especially as more and more people work remotely and can enjoy a sea or tree-change without having to seek accommodation close to employment hubs, but rather move for lifestyle benefits,” he said.
“If you buy a house you can start building equity, particularly when you take a long-term strategic view and are in a good position to negotiate well and buy a ‘Grade A’ property that will serve your family to many years to come.
“Our research also shows that nationally the interest-only repayments for both owner-occupiers and investors is lower than the annual rental cost of renting in most of the 88 areas at the statistical area level 4 (i.e. SA4s). Therefore, funding costs are lower than rental payments across all states and territories.
“And, except for Sydney and Melbourne, in all other states and territories, even the principal and interest repayments are lower than the annual rent, assuming that you have a 20 per cent deposit.
“No interest rate rises are expected in the foreseeable fortune and the intense competition between the banks is only going to further intensify, meaning buyers are in a very strong position to continue enjoying ultra-low interest rates.”
Mr Peleg said the biggest savings were in the capital cities where rental returns were the highest.
Mr Wargent of Buyers Buyers said “a sustained period of ultra-low interest rates seems almost certain in the foreseeable future and is likely to have a positive impact on the market during 2021. In fact, RBA research has found that for every 1 percentage point reduction to the cash rate, property values may increase 8 per cent over the following two years.”
Ultra-low interest rates have led some lenders to offer introductory home loan variable rates of 1.99 per cent, a move which follows the launch of the first fixed rate of less than 2 per cent.
Over the medium and the long term, Mr Wargent said solid price growth was highly likely for houses, particularly due to a systematic undersupply in the inner and middle rings, and also in the more affordable outer areas with good access to the CBD, such as the western suburbs.
Mr Peleg of RiskWise said “what this all means is now is the time to buy if you are a first home buyer or an owner-occupier as this current slowdown in the property market is only temporary, with houses in popular areas likely to experience solid capital growth in the medium to long term. However, it must be stressed that units carry a higher risk and at this point of time so this strategy should only be considered for houses.
“Once the COVID-19 issue is resolved, most likely in 2021, the traditional connection between low interest rates and increase in dwelling prices is likely to take place."
Mr Wargent of Buyers Buyers said investors with a long-term view could also benefit despite interest repayments for investment properties being slightly higher.
“If the rent covers their monthly interest repayments, they are in a good situation. There is a relationship between low interest rates, low out of pocket expenses and stronger demand and this is very attractive to investors,” he said.
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Cheaper to buy than rent in Sydney everywhere except for Ryde: RiskWise

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BVN, one of the six shortlisted architecture firms, has won the rights to redevelop the iconic 125-year-old City Tattersalls Club in Sydney.
The shortlist comprised five Australian companies including Hassell, Bates Smart, SJB, and Candalepas Associates, as well as international architectural practice DP Architects, who joined forces with local firm Scott Carver.
BVN impressed the judging panel with an efficient floor plan and “elegant” and “calm” facade. City Tatts chairman Patrick Campion said that BVN will work closely with FJMT, the architect overseeing the redevelopment of the heritage components of the original club buildings, to ensure continuity.
The Design Excellence Competition Brief was the result of a close collaborative process with the City of Sydney and relates, to the 49-storey tower above the historic site, with a Stage 1 DA for circa 245 residential apartments and a 100-room hotel.
The vision of the development group, a consortium led by Singapore-based First Sponsor Group Limited and ICD Property – in collaboration with the City Tattersalls Club – is to deliver a building that “sensitively integrates with the Heritage Component and provides a contribution back to Sydney by facilitating the restoration and renewal of the historic Club.”
“The six shortlisted firms were chosen based on their expertise with hotels and residential projects, heritage architecture and their experience with the Sydney CBD,” said ICD Property’s Development Director Alice Smith on behalf of the development group.
“We sought firms that were innovative and pushed the boundaries and weren’t afraid to challenge the norm, while still being able to create a timeless design that would contribute to Sydney’s urban fabric,” she said.
The brief outlined that the Tower Component should provide future residents and visitors with a desirable place to live and stay - an environment that responds to their needs through excellence in interior planning, exemplar urban design and architecture, environmentally sustainable design, together with the quality of built form.
The shortlisted candidates have been given a five-week window to design their schemes before presenting to six jurors, who ultimately, will select a winning scheme which they believe achieves design excellence.
In November last year, the high-profile Sydney project received envelope approval from the council’s Central Sydney Planning Committee for the Stage 1 Concept Development Application.
As part of the redevelopment, the City of Sydney gave envelope approval for plans to rejuvenate the entire clubhouse, including retail, restaurants, a combined hotel and Club reception on the ground level, as well as an event space, a premium co-working centre, health and wellbeing facilities and other great member facilities.
Located at 194 - 204 Pitt Street, redevelopment signifies a bigger revitalisation of the entire precinct.
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BVN architects win City Tatts redevelopment redesign

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Research released by Knight Frank confirms that despite lockdowns in response to COVID-19 around the world, 153 residential real estate transactions above US$10m (AU$14.3m) have taken place globally between March and June 2020, with a total value of US$3.2bn (AU$4.6bn). 
However, despite positivity that the global super-prime market didn’t buckle during lockdown, transaction levels to the end of H1 2020 are below the levels seen in H1 2019, with 281 super-prime (US$10m+ / AU$14.3m+) transactions taking place January to June 2020 compared to 594 over the same period 2019. 
The research looks at how 12 key super-prime markets around the world performed in H1 2020 compared to H1 2019 and delves into the number of transactions completed since March 2020 when COVID-19 was officially labelled a pandemic, lockdowns were enforced around the world and international travel ceased.  
Total Transaction Volumes 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="118">
Market
</td>
<td valign="top" width="118">
H1 2019
</td>
<td valign="top" width="113">
H1 2020
</td>
<td valign="top" width="132">
March – June 2019
</td>
<td valign="top" width="151">
March – June 2020
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Hong Kong
</td>
<td valign="bottom" width="118">
155
</td>
<td valign="bottom" width="113">
60
</td>
<td valign="bottom" width="132">
111
</td>
<td valign="bottom" width="151">
41
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Los Angeles
</td>
<td valign="bottom" width="118">
77
</td>
<td valign="bottom" width="113">
52
</td>
<td valign="bottom" width="132">
58
</td>
<td valign="bottom" width="151">
35
</td>
</tr>
<tr>
<td valign="bottom" width="118">
New York
</td>
<td valign="bottom" width="118">
137
</td>
<td valign="bottom" width="113">
41
</td>
<td valign="bottom" width="132">
100
</td>
<td valign="bottom" width="151">
19
</td>
</tr>
<tr>
<td valign="bottom" width="118">
London
</td>
<td valign="bottom" width="118">
75
</td>
<td valign="bottom" width="113">
24
</td>
<td valign="bottom" width="132">
56
</td>
<td valign="bottom" width="151">
16
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Palm Beach and Broward
</td>
<td valign="bottom" width="118">
29
</td>
<td valign="bottom" width="113">
24
</td>
<td valign="bottom" width="132">
24
</td>
<td valign="bottom" width="151">
10
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Singapore
</td>
<td valign="bottom" width="118">
29
</td>
<td valign="bottom" width="113">
27
</td>
<td valign="bottom" width="132">
24
</td>
<td valign="bottom" width="151">
8
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Sydney
</td>
<td valign="bottom" width="118">
13
</td>
<td valign="bottom" width="113">
15
</td>
<td valign="bottom" width="132">
12
</td>
<td valign="bottom" width="151">
6
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Dubai
</td>
<td valign="bottom" width="118">
17
</td>
<td valign="bottom" width="113">
8
</td>
<td valign="bottom" width="132">
13
</td>
<td valign="bottom" width="151">
6
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Miami
</td>
<td valign="bottom" width="118">
25
</td>
<td valign="bottom" width="113">
12
</td>
<td valign="bottom" width="132">
16
</td>
<td valign="bottom" width="151">
4
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Orange County
</td>
<td valign="bottom" width="118">
24
</td>
<td valign="bottom" width="113">
9
</td>
<td valign="bottom" width="132">
21
</td>
<td valign="bottom" width="151">
4
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Geneva
</td>
<td valign="bottom" width="118">
10
</td>
<td valign="bottom" width="113">
8
</td>
<td valign="bottom" width="132">
9
</td>
<td valign="bottom" width="151">
3
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Melbourne
</td>
<td valign="bottom" width="118">
3
</td>
<td valign="bottom" width="113">
1
</td>
<td valign="bottom" width="132">
2
</td>
<td valign="bottom" width="151">
1
</td>
</tr>
</tbody></table>
Knight Frank’s Erin van Tuil, Partner, Crown Residences at One Barangaroo, said: “In half one of 2020 transactions were down in 11 of the 12 markets analysed. Sydney was the stand out market and the only one to record an increase in sales compared to half one 2019, from 13 to 15 transactions respectively.
“Looking at the period between March and June 2020, there were six sales in Sydney compared to 12 in the same period last year. However, Sydney’s super-prime market is set for a successful year thanks to its fundamentals as a city, poising it for resilience, strength and stability.”
Leading on the sales of Crown Residences at One Barangaroo, a development which will consist of 82 super-prime and ultra-prime homes, van Tuil experiences first-hand the positive performance of Sydney’s prime market, despite the effects of the pandemic. From her commentary on viewer testimonials, it is clear to see why appetite for high end homes remains.
van Tuil said: “We are receiving a record number of enquiries for Crown Residences at One Barangaroo, Australia’s first fully-integrated hotel branded residences. While we had a quieter April, we received the highest number of enquiries to date in February and June 2020, and sales are performing phenomenally well.  
“After a period of dislocation, the flight to quality property from active participants in the market has increased dramatically. Buyers are looking for a more intimate connection to their homes with space, ceiling height, privacy, services, and the beauty of a building being front of mind. These feelings are evident in viewers of Crown Residences at One Barangaroo, who are attracted by the private sanctuary of the Residences amidst the proximity to public space, with the services and amenities from the hotel below having become more appealing than ever.”
Overall, four markets were within seven of their March to June 2019 levels of transactions, Melbourne only one below, Geneva six below and Dubai seven below, with a total of six sales. 
Total Sales Volume 
Despite the falling number of transactions, deal values were generally higher. Overall, the global average transaction value increased by 15 percent for the March to June period, at US$20.7m (AU$29.6m) compared to US$18m (AU$25.8m) for the same period in 2019.
Sydney recorded a significant rise in average transaction value to US$16.8m (AU$24m), up from US$12.6m (AU$18m) in 2019, an increase of 33 percent. London saw the largest increase and takes the top spot with an average transaction value of US$38m (AU$54.5m), compared to US$16.9m (AU$24.2m) over the same period as last year.  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="218">
Market
</td>
<td valign="top" width="218">
Total Sales Volume March - June 2019 (US$ million)
</td>
<td valign="top" width="218">
Total Sales Volume March - June 2020 (US$ million)
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Hong Kong
</td>
<td valign="bottom" width="218">
2,351 
</td>
<td valign="bottom" width="218">
812 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Los Angeles
</td>
<td valign="bottom" width="218">
1,098 
</td>
<td valign="bottom" width="218">
693 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
New York
</td>
<td valign="bottom" width="218">
1,793 
</td>
<td valign="bottom" width="218">
363 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
London
</td>
<td valign="bottom" width="218">
944 
</td>
<td valign="bottom" width="218">
608 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Palm Beach and Broward
</td>
<td valign="bottom" width="218">
333 
</td>
<td valign="bottom" width="218">
170 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Singapore
</td>
<td valign="bottom" width="218">
454 
</td>
<td valign="bottom" width="218">
130 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Sydney
</td>
<td valign="bottom" width="218">
152 
</td>
<td valign="bottom" width="218">
101 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Dubai
</td>
<td valign="bottom" width="218">
173 
</td>
<td valign="bottom" width="218">
80 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Miami
</td>
<td valign="bottom" width="218">
255 
</td>
<td valign="bottom" width="218">
52 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Orange County
</td>
<td valign="bottom" width="218">
309 
</td>
<td valign="bottom" width="218">
59 
</td>
</tr>
</tbody></table>
However, Hong Kong ranks highest for the number of transactions and total sales volume with 60 having taken place in 2020 so far worth a combined US$1.2bn (AU$1.7bn). There have been 41 since March and, whilst this is less than half of the 155 in the first half of 2019, it is only marginally down from the 74 in the second half of 2019 when the city grappled with social unrest. 
New York has the third highest number of super-prime sales this year with 41, behind 52 in Los Angeles, and almost half of these (19) have taken place since March. With the city being particularly hard hit by COVID-19, accounting for approximately one in six of all US cases in April, this demonstrates resilience and that the fundamentals remain.
Ultra-Prime Market (US$25m / AU$35.8m)
The research also takes a look at the ultra-prime market (above US$25m / AU$35.8m) in these 12 areas. It highlights that eight of these markets saw one or more transactions in the ultra-prime market over the March to June 2020 period. Two saw more sales than the same period last year and two held steady, with a total of US$1.3bn (AU$1.8m) transacted.  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="218">
Market
</td>
<td valign="top" width="218">
Total Transactions March - June 2019
</td>
<td valign="top" width="226">
Total Transactions March - June 2020
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Hong Kong
</td>
<td valign="top" nowrap width="218">
20
</td>
<td valign="top" nowrap width="226">
8
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
London
</td>
<td valign="top" nowrap width="218">
6
</td>
<td valign="top" nowrap width="226">
6
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Los Angeles
</td>
<td valign="top" nowrap width="218">
12
</td>
<td valign="top" nowrap width="226">
5
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
New York
</td>
<td valign="top" nowrap width="218">
16
</td>
<td valign="top" nowrap width="226">
3
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Palm Beach and Broward
</td>
<td valign="top" nowrap width="218">
1
</td>
<td valign="top" nowrap width="226">
2
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Geneva
</td>
<td valign="top" nowrap width="218">
2
</td>
<td valign="top" nowrap width="226">
2
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Sydney
</td>
<td valign="top" nowrap width="218">
0
</td>
<td valign="top" nowrap width="226">
1
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Singapore
</td>
<td valign="top" nowrap width="218">
3
</td>
<td valign="top" nowrap width="226">
1
</td>
</tr>
</tbody></table>
Sydney went from zero sales above US$25m (AU$35.8m) in March to June 2019 to one over the same period in 2020. Hong Kong has once again seen the highest number of ultra-prime sales in this time period with eight and a total of 10 so far in 2020, down from 30 in the first half of 2019. However, in terms of total volume of sales, London leads the way with US$434m (AU$621.2m) in sales followed by Hong Kong’s US$372m (AU$532.4m).
van Tuil said: “We expect momentum in the ultra-prime segment will continue as ultra-high-net-worth individuals look for more spacious options post-lockdown. The 82 Residences at Crown Residences at One Barangaroo offer a mix of homes within the super-prime and ultra-prime segments. Viewers are looking across these segments at the two, three and four bedroom Residences that we have remaining on the market, as well as the breath-taking Duplex Penthouse.”
Mark Manners, Head of Prestige Residential, Knight Frank Australia, concludes: “Global events like the COVID-19 pandemic can disrupt sales processes. However, you tend to find sales are postponed, rather than cancelled. Super – prime and ultra-prime property is viewed as a safe investment for the long-term, so buyer interest has not dampened and is expected to increase as markets continue to exit lockdown.”
 
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Sydney’s super-prime residential market outperforms expectations despite COVID-19 lockdowns 

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The median Sydney rental yield has fallen sharply, according to the CoreLogic June 2020 quarterly rental review.
House yields in the NSW capital sit at 2.7% (down from 3.2% 12 months ago), and unit yields sit at 3.4% (down from 4.0% 12 months ago).
The current combined median yield (for all property types) is 2.9%, down from 3.5% 12 months ago.
<img src="https://www.urban.com.au/images/2020/7/29/cap%20cities%20yield.png" alt="">
This reflects a downturn of 0.8% month-on-month and 1.3% over the quarter.
For renters, this translates to a median rental price of $568 ($609 for houses and $536 for units).
<img src="https://www.urban.com.au/images/2020/7/29/cap%202.png" alt="">
In the 12 months to June, rental yields fell across seven of the eight capital city markets. Perth was the only exception.
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Sydney rental yields fall in June: CoreLogic Quarterly Rental Review

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New Moore Park contractor John Holland has laid its first concrete slabs at the Sydney stadium.
Acting Minister for Sport Geoff Lee said development hasn't stopped during COVID, providing job security for workers, boosting NSW's COVID-19 recovery and ensuring the project remains on schedule.
"The Sydney Football Stadium project is investing in local companies during the pandemic with a Western Sydney business providing the concrete for today's pour," Mr Lee said.
"This is another exciting milestone setting the foundations for the stadium to start rising from the ground."
To complete the stadium, a further 40,000 cubic meters of concrete will need to be poured – That's the equivalent of 16 Olympic swimming pools.
Over the next two years, the Sydney Football Stadium Redevelopment will reportedly create over 800 jobs and inject hundreds of millions into the NSW economy through the procurement of construction materials and labour.
"Our stage two contractor John Holland has already safely logged over 140,000 hours by workers on site since the beginning of the outbreak and there has been an average of 180 workers on site in July alone," Mr Lee said.
"We have extended hours on weekends to enable work to continue safely with social distancing, no job losses or reduced hours for employees."
The stadium is expected to host the 2022 NRL Grand Final, with the state government saying that this timeline is ontrack.
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Sydney's Moore Park see's first concrete slabs laid

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Australasia is the strongest performing world region for luxury residential property price growth in the year to Q2 2020, with the Gold Coast the best performing city in the region, according to the results of the Knight Frank Prime Global Cities Index Q2 2020.
The Prime Global Cities Index, which tracks the movement in prime residential prices in local currency across 45 cities worldwide, found five Australian cities – the Gold Coast, Sydney, Perth, Brisbane and Melbourne - were ranked in the top 24 for luxury residential market performance over the past year, with one making the top 10.
The Gold Coast was the top ranked city in Australia – and Australasia – coming in at number 10 on the list of global cities with 3.4 per cent annual growth.
It was followed by Sydney (ranked 11) and Perth (12), both of which recorded annual growth of 3 per cent. Brisbane was ranked 16 (2.5 per cent) and Melbourne was ranked 24 (1.2 per cent).
Positive growth was recorded for the Gold Coast (1.2 per cent), Sydney (0.3 per cent), Perth (2.3 per cent) and Brisbane (0.3 per cent) over the past quarter. Melbourne was the only city to record negative growth of -1.0 per cent over the past three months.
Knight Frank’s Head of Residential Research Australia Michelle Ciesielski said this was the first opportunity Knight Frank had had to take the pulse of prime residential markets globally since the COVID-19 pandemic hit large parts of Europe and the Americas.
“Globally, the Prime Global Cities Index has reached its lowest rate of annual growth since the last quarter of 2009, when the world was in the grip of the global financial crisis,” she said.
“Prices increased by 0.9 per cent on average in the year to June 2020, down from 2.3 per cent in March.
“Despite the COVID-19 pandemic, in the June quarter, 67 per cent of global cities registered flat or positive prime annual price growth.
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<div class="column">
“Knight Frank’s analysis by world region shows prime prices in Australasia and North America were the most resilient in the second quarter of 2020, with Australasia the strongest performing world region in the year to Q2 2020.
“The relatively strong performance of Australian cities was a result of the shallow number of listings, keeping property prices firm, and by global comparison we have largely escaped the major impact of COVID-19.”
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Knight Frank National Head of Residential Shayne Harris said demand for luxury property in Australia was likely to continue and potentially grow, with ultra-high-net-worths looking to buy more spacious homes.
“In cities such as Sydney we are seeing more demand for higher-value properties such as large detached homes or generously-sized apartments, which is supporting prime residential values,” he said.
“During the pandemic we’ve seen the ultra-wealthy make their next residential property purchase decisions based on liveability, so places like South-East Queensland will become more attractive in a post-COVID world.
“It is unlikely we will see significant volumes of distressed prime sales as we saw in 2008, during the global financial crisis.
“Lending criteria is tighter, new supply is constrained in several cities, interest rates are low and there is currently assistance on offer from both lenders and governments.”
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The top performing city in Knight Frank’s Prime Global Cities Index was Manila, with annual luxury residential price growth of 14.4 per cent, followed by Tokyo (8.6 per cent) and Stockholm (4.4 per cent).
“Manila, Tokyo and Seoul are Asia’s top performers year-on-year, with Stockholm, Geneva and Paris leading Europe’s rankings,” said Ms Ciesielski. “However, five of these six cities registered flat or falling prime prices in the three months to June.
“We expect the index to display muted growth in the second half of 2020 before recovering in 2021.”
Australian cities – ranked by annual per cent change (Q2 2019 – Q2 2020) 
</div>
</div>
<table style="height: 200px; width: 353px;">
<colgroup>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td>
<div class="layoutArea">
<div class="column">
CITY
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/0d8ce672-eb01-4f80-b586-c2cf63e3d2e6" alt="page3image3718272" width="0.480000" height="0.480000">RANK</td>
<td>
<div class="layoutArea">
<div class="column">
12-MONTH CHANGE (%)
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/59c4dd41-f00c-416e-9afa-c2051a31ee0a" alt="page3image3719520" width="0.480000" height="0.480000"> <img src="blob:https://www.urban.com.au/7668e0f5-d767-43a8-80da-e22b43e6bb04" alt="page3image5104384" width="0.480000" height="0.480000">3-MONTH CHANGE (%)</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
Gold Coast
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/a7e2dafc-4cbc-4371-84dc-5bdd7bf781fa" alt="page3image3722016" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
10
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
3.4
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/c2f55b0b-7606-4726-8566-d0ba3159a05c" alt="page3image3722848" width="0.480000" height="0.480000"> 1.2</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
Sydney
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/3b34f86c-b8f4-498d-9934-2bca4d79d254" alt="page3image3725344" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
11
</div>
</div>
<img src="blob:https://www.urban.com.au/e7d1d694-e2eb-47aa-b3f9-700546701c92" alt="page3image3726384" width="0.480000" height="0.480000">
</td>
<td>
<div class="layoutArea">
<div class="column">
3.0
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/6660ae26-8164-41d7-a18d-b6304289f105" alt="page3image3727008" width="0.480000" height="0.480000"> 0.3<img src="blob:https://www.urban.com.au/484cd0c8-dc25-4f8d-8706-76fbe0d6ccc0" alt="page3image3728048" width="0.480000" height="0.480000"> <img src="blob:https://www.urban.com.au/ae3f7e06-f840-4987-9e17-fe48d7da4520" alt="page3image3728464" width="0.480000" height="0.480000">
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
Perth
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
12
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
3.0
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
2.3
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
Brisbane
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/bcd57dcc-b8d4-4bcf-ac94-4e23677a1e01" alt="page3image3730752" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
16
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
2.5
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/9df2bf5d-7da5-4cd7-ad0a-fb3587f1fbf0" alt="page3image3731584" width="0.480000" height="0.480000"> <img src="blob:https://www.urban.com.au/0324fecc-a454-4f46-898c-f6fb502056f1" alt="page3image3732000" width="0.480000" height="0.480000">0.3</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
Melbourne
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/4b7ce401-414a-40db-8a3d-ee93e1bb32bd" alt="page3image3734288" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
24
</div>
</div>
<img src="blob:https://www.urban.com.au/68fd0368-cccf-4a2c-b580-76dea4e47ef9" alt="page3image3735328" width="0.480000" height="0.480000">
</td>
<td>
<div class="layoutArea">
<div class="column">
1.2
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/9300df5f-ed10-4dd9-9673-a21dc7894c87" alt="page3image3735952" width="0.480000" height="0.480000"> <img src="blob:https://www.urban.com.au/217d7084-727d-4569-ab40-6a9724154283" alt="page3image3736368" width="0.480000" height="0.480000">-1.0</td>
</tr>
</tbody>
</table>
Source: Knight Frank Prime Global Cities index Q2 2020 
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Gold Coast, Sydney and Perth top ranked cities in Australia for luxury residential price growth

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Auction numbers and new listings in Sydney property market continue to remain fairly strong for this time of year, according to the latest Herron Todd White (HTW) residential report.  
The valuation firm presented a "investor playbook" of real estate performance within each service area. 
The report notes the last few weeks has seen an increasing number of COVID-19 community transmissions in Melbourne and then Sydney. 
"Whilst, at the time of writing, Sydney has not seen a return to the lockdowns experienced in March and April, there is no doubt consumer confidence is again starting to decline as a result of an apparent ‘second wave’," the valuation firm said. 
Home values across Sydney have continued to decline over the past month, dropping by 0.9% over that time according to CoreLogic. 
Whilst values are still up by 2.8% since the beginning of 2020, if the current trend continues, it would mean prices falling a further 5 to 6% by the end of the year, the report noted. 
<a href="https://www.propertyobserver.com.au/images/2020/8/10/sydney%201%20.jpg" target="_blank">Click here</a> to enlarge: 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/10/sydney%201%20.jpg" alt="">
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"Auction numbers and new listings continue to remain fairly strong for this time of year, although auction clearance rates have eased to around 60% over the past few weeks," the valuation firm said. 
The clearance rate at in the same period last year was above 70%, although with a lower number of auctions, as the market began its recovery at the time.
"And now onto the property investors playbook," the valuation firm continued. 
The residential property investor market has had some significant hurdles placed in front of it in recent years.
 Tougher lender and regulatory requirements around investor loans, and the threat of removal of negative gearing and capital gains tax allowances prior to the federal election in May last year, significantly reduced the number of investors looking to get into the market, the report noted. 
As these lending restrictions eased and the threat to tax allowances was extinguished, the investor market began to recover along with the wider market as prices started to rise.
That recovery has now come to an abrupt halt as a result of COVID-19, as asking rents have fallen sharply, while vacancy rates have climbed, across many parts of Sydney.
According to CoreLogic, across the financial year to June, Sydney dwellings saw an average 16.7% return with 13.3% of that through capital growth.
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Houses enjoyed a 17.7% return with 14.5% capital growth, while units had a 14.7% return with 10.6% of that being capital growth.
<a href="https://www.propertyobserver.com.au/images/2020/8/10/sydney%202.png" target="_blank">Click here</a> to enlarge: 
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However with prices now falling and rental yields also under downward pressure, returns in the current financial year are likely to be significantly leaner.
As can be seen from the table below, vacancy rates in the Inner and Middle ring suburbs have been particularly hard hit since March, while the Outer suburbs have continued to see a tightening vacancy rate, the report noted. 
<a href="https://www.propertyobserver.com.au/images/2020/8/10/sydney%203.png" target="_blank">Click here</a> to enlarge: 
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The Inner ring suburbs have seen an increasing supply of properties, particularly units, as previous holiday-stay properties were switched over to the long term rental market, and new unit completions have continued to hit the market. 
New unit completions are also impacting supply in some middle ring suburbs.
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The report notes demand levels are not increasing at the same levels as supply as immigration has been stopped and is likely to be impacted for some time to come. 
Demand from international students has also dropped dramatically as a result of COVD-19.
"With values at the lower end of the market holding up better than other price points, and vacancy rates continuing to tighten in the outer ring, Western Sydney is looking like the best place for investors for returns in the short to medium term."
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Sydney home values continues to decline: HTW residential 

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Sydney Metro median property prices increased by 1.3 per cent for houses, according to PRD's Affordable and Liveable Property Guide Sydney 1st Half 2020.
Affordable and liveable suburbs are those with a maximum property sale price of the average state home loan, plus a 15 per cent deposit.
In the 1st half of 2020, 139 suburbs were within this price range, greater than the 119 suburbs identified in the 2nd Half 2019 report. 
The most affordable and liveable house suburbs include: 
<table style="width: 688px;" border="0"><tbody>
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<td> </td>
<td>Approx. radius from the Sydney CBD</td>
<td>Median House Price</td>
<td>2 Bed Median Price </td>
<td>3 Bed Median Price </td>
<td>4+ Bed Median Price </td>
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<td>Miranda</td>
<td>20km</td>
<td>$1,160,000</td>
<td>$1,055,000</td>
<td>$1,092,500</td>
<td>$1,210,000</td>
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<td>Rockdale </td>
<td>10.9km</td>
<td>$1,100,000</td>
<td>$1,075,000</td>
<td>$1,160,000</td>
<td>$1,237,500</td>
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<td>Tempe</td>
<td>7.7km</td>
<td>$1,093,000</td>
<td>$1,042,500</td>
<td>$1,243,850</td>
<td>$1,425,000</td>
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Affordable and liveable unit suburbs include: 
<table border="0"><tbody>
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<td> </td>
<td>Approx. radius from the Sydney CBD</td>
<td>Median House Price</td>
<td>1 Bed Median Price </td>
<td>2 Bed Median Price </td>
<td>3+ Bed Median Price </td>
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<td>Rockdale</td>
<td>10.9km</td>
<td>$610,500</td>
<td>$482,500</td>
<td>$615,000</td>
<td>$718,880</td>
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<td>Bexley</td>
<td>11.1km</td>
<td>$610,000</td>
<td>$442,500</td>
<td>$600,000</td>
<td>$768,000</td>
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<td>Peakhurst</td>
<td>16km</td>
<td>$659,000</td>
<td>$495,000</td>
<td>$635,000</td>
<td>$842,500 
</td>
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A cooling in median property prices in early to mid-2019 has led to more suburbs identified as affordable in the 1st half of 2020. However, this also meant there were a large number of suburbs with negative median price growth.
In line with the methodology set, suburbs with median price growth close to neutral (i.e. zero) were chosen. A premium of 95 per cent for houses and 11 per cent for units was added to the NSW average home loan, to ensure suburbs chosen met all other set criteria. This is well below the 2nd Half 2019 report premium and below the percentage premium needed to reach Sydney Metro’s median property price. Thus there is improved access to liveable suburbs for buyers.
Median property prices in Sydney Metro increased by 1.3 per cent for houses to $1,355,000 from 2018 to 2019/20 and remained steady for units at $796,500. By comparison, from 2017 to 2018 the median house price in Sydney Metro softened by -4.5 per cent, and the median unit price softened by -2.6 per cent.
The market has recovered from the significant price drop seen in mid-2019. There is a unique opportunity in Sydney Metro, as the current market is more affordable than in 2017 (median house price of $1,401,000 and median unit price of $819,500), yet at the same time owners can be confident in their asset’s ongoing value.
<a href="https://www.propertyobserver.com.au/images/2020/6/26/9_Houses.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/9_Houses.jpg" alt="" width="491" height="278">
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Sydney Metro sales and median price growth. Source: PRD.
The Sydney Metro rental market recorded a median rental price of $500 per week for houses and $530 per week for units, representing quarterly median price growth of one per cent for houses and 1.9 per cent for units. This occurred despite an annual increase in vacancy rate, which was at 3.9 per cent in April 2020.
 Sydney Metro recorded average yields of 2.5 per cent for houses and 3.5 per cent for units, which saw a slight softening in the 12 months to April 2020. Despite this however, Sydney Metro still offers investors long-term historical strength and stability in its rental market.
<a href="https://www.propertyobserver.com.au/images/2020/6/26/9_Rental.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/9_Rental.jpg" alt="" width="504" height="337">
Sydney rental market analysis. Source: PRD. 
The top three lowest priced suburbs in Greater Sydney are Villawood whose 2019/20 median price is $697,500, Granville ($730,000) and Guildford ($740,000). While there is no project development value offered by PRD for Villawood, its 2019/20 median rent is $500 with a 2.9 per cent rental yield.
Granville has a project development value of $22.6 million and a median rent of $460 with a 3.3 per cent rental yield. Guildford has a project development value of $9.8 million and median rent of $450 with a 2.8 per cent rental yield. 
Meanwhile, the top three highest priced suburbs are St Leonards (with a $12.05 million median), Point Piper ($8.825 million) and Lavender Bay ($7 million). 
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An estimated $17.5 billion of developments is planned in the 1st half of 2020 for Greater Sydney, in many sectors. Major projects include the $1 billion Stage One M6 Extension infrastructure project, the $636.7 million Park Sydney Mixed Use Development (1,400 units), and the $200.0M Westfield Parramatta Stage One extension. These projects highlight the strength of the development pipeline for the 1st half of 2020. This will generate more commercial activity, and infrastructure projects will create additional employment; resulting in positive spill-over effects on the property market.
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