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

<html><body>
Sydney’s house and unit price recovery halted over the June quarter, with prices down by almost $23,000 and just over $14,000 respectively.
The June quarter also marks the first time house prices have moderated since early 2019.
While Sydney property prices remain higher than in 2019, house and unit prices are $55,000 and $52,000 below the mid-2017 peak respectively, presenting an opportunity for prospective buyers.
<img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/6eb18b44-dce9-4acc-ad0c-748c449a5292.png" data-imagetype="External">
June 2020 QoQ change for Sydney house and unit prices
“Sydney’s house and unit price recovery was abruptly halted over the June quarter, down 2 per cent and 1.9 per cent respectively. Houses have lost almost $23,000 and units just over $14,000 in the June quarter, the first quarter to show the impact of COVID-19. For houses, this is the first time prices have moderated since early 2019 and a year for units. Sydney was in an upswing prior to this interruption, highlighted by the strong annual growth, up by 10.5 per cent for houses and 7.3 per cent for units. House prices are $110,000 above the early 2019 trough but remain $55,000 below the mid-2017 peak. Unit prices are $50,000 above the mid-2019 trough but remain $52,000 below the mid-2017 peak.”
“Price falls to date have been minimal; significant government stimulus, mortgage holidays and low interest rates have helped to support home values. This is assisting many homeowners through economically challenging times and has kept distressed and urgent selling low. The risk to prices becomes greater once the stimulus measures cease and we face the fiscal cliff. While lenders have extended the mortgage pause for those under serious financial strain and the JobKeeper subsidy will be extended and tapered until the end of March next year, the outlook for prices largely depends upon how well the economy is tracking at the time stimulus ends.”
“The full impact of the economic shutdown was evident in the June quarter. Sales activity, listings and clearance rates fell in April but were rebounding by June. It is clear confidence has lifted from the April lows, sellers have returned, and more buyers think now is a good time to purchase - nationally rising to a six-month high, according to the Westpac Melbourne Institute Index of Consumer Sentiment. Buyer interest has renewed from the April lows - those with job security are being enticed by low mortgage rates, government financial incentives and taking advantage of improved affordability. Price expectations have changed rapidly in recent months, with more vendors adjusting asking prices downwards to seek a timely sale. In June, 15.2 per cent of sellers reduced asking prices, three times higher than the same time last year. The proportion of properties discounted is a leading indicator of price movement, evidence that further price weakness lies ahead,” said Domain Senior Research Analyst, Dr Nicola Powell.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Sydney's property price recovery halted over the June quarter: Domain

<html><body>
Some 7.6 per cent of resales saw a nominal loss across Sydney, according to CoreLogic's Pain and Gain Report March Quarter 2020. 
<div class="page" title="Page 17">
<div class="section">
<div class="layoutArea">
<div class="column">
Alongside Hobart, Sydney was the only capital city to see a decline in 95 per cent the portion of loss making sales, down from 7.9 per cent in the previous quarter.  
<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/2020/7/10/16_Sydney%201.jpg" alt="" width="414" height="250">
 
Source: CoreLogic Pain and Gain March Quarter 2020 report.
</div>
</div>
<div class="layoutArea">
<div class="column">
Across the council regions of Sydney, the highest portion of loss making sales were across Burwood (22.4 per cent), Parramatta (15.9 per cent), and Ryde and Strathfield (13.5 per cent). The Burwood council region had a high portion of loss marking sales off a 75 per cent relatively low base. There were about 18 loss making sales observed across the region, most of them units with a relatively low hold period.
</div>
</div>
<div class="layoutArea">
<div class="column">
Higher levels of profitability tended to concentrate in higher socio-economic areas of Sydney, such as North Sydney, where profit making transactions made up 98.0 per cent of resales in the quarter.
The Blue Mountains also proved to be the second most profitable region for property sales in the March quarter, with 96.9 per cent of sales seeing an increase in the nominal sale price. However, the gain in the region was relatively low, at $287,250.
Increased profitability in resales was aided by a strong uplift in dwelling values over the quarter. March saw Sydney dwelling values increase 3.9 per cent. Importantly, the decline in demand resulting from responses to the pandemic has since seen values fall - 0.8 per cent over June, which will likely manifest in more loss making sales in the coming months.
<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/2020/7/10/16_Sydney%202.jpg" alt="" width="710" height="504">
Source: CoreLogic Pain and Gain March Quarter 2020 report.
</div>
</div>
</div>
</div>
</body></html>

7.6% of Sydney resales saw a loss: CoreLogic Pain & Gain

<html><body>
We are in recession; unemployment is rising, and we should be in a situation where house prices catastrophically fall. Yet, they remain resilient.
Across Australia, prices have softened slightly since March (except in Canberra), but comparing prices to the same time last year, Sydney is doing remarkably well. A lot of this has to do with how hot the market was leading up to March, but the surprising resilience is also being driven by a stable banking sector.
In Sydney, the strongest markets continue to be those priced well above the current house price median of $969,500. There are definitely some areas of weakness in Sydney at the moment, but it isn’t for houses in premium suburbs, many of which have seen double digit price growth.
Topping the list for price growth is Petersham with a 32% increase since last year. Meanwhile, the most expensive suburb on the top growth list is the north shore suburb of Lindfield, which is now getting close to a $3 million median.
It does appear that people are also keen to hold on to their properties if they can, and would prefer to tap into superannuation or selling shares.
A recent survey by Fidelity Investments found that 26% of Australians plans to access their super early in the next 12 months, while 4.5% plan to sell shares.In comparison only 1.8% plan to sell property. This is a major contributor to stable pricing; COVID-19 doesn’t appear to be denting our obsession with property.
<img src="https://www.urban.com.au/images/2020/7/20/REA%20July%201.JPG" alt="">
NERIDA CONISBEE is the Chief Economist at REA
</body></html>

nconisbee-4KnoX9XmtH

Sydney suburbs seeing double-digit price growth: REA's Nerida Conisbee

<html><body><div class="page" title="Page 23">
<div class="section">
<div class="layoutArea">
<div class="column">
The past month has seen a number of restrictions being eased which has seen activity begin to increase in the Sydney market, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
The report notes auction numbers have steadily increased and the number of auctions is now in line with the same period last year when the market was beginning its recovery from the previous downturn.
Clearance rates are tracking above this time last year but are still below those being achieved in February and March prior to the COVID-19 lockdowns.
Despite activity increasing, according to CoreLogic the number of new properties listed for sale is down 6.6 per cent on this time last year, while the number of total listings is down 21.2 per cent. 
"This lack of stock is likely insulating prices somewhat, although we are now seeing the Sydney median price starting to decline, down 0.3 per cent in the week ending 21 June and down 0.8 per cent in the month ending at that date," the valuation firm said. 
<div class="page" title="Page 23">
<div class="section">
<div class="layoutArea">
<div class="column">
"We are still seeing some strong results in the market with quality product still generally performing quite well," the valuation firm added. 
The lack of stock has seen quality homes continue to do well in the COVID-19 property market. 
Pagewood, located eight kilometres from the Sydney CBD, has seen strong results with two suburb records in May. 
A dwelling at 24 Macarthur Avenue, Pagewood sold for the suburb record of $3.15 million and a brand new duplex at<a href="https://www.realestate.com.au/sold/property-house-nsw-pagewood-133173110" target="_blank"> 58a Ocean Street, Pagewood</a> (pictured above) sold for $2.17 million.
 Local agents are also taking advantage of their buyer database which in one case led to an off market sale of 138 Bay Street, Pagewood for $2.625 million.
Another record sale of $2.205 million was recorded in Beaumont Hills for<a href="https://www.realestate.com.au/sold/property-house-nsw-beaumont+hills-133062354" target="_blank"> 37 Guardian Avenue</a> (pictured below).
<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/2020/7/13/beaumont%20hills%20.jpg" alt="">
This property is a six-bedroom, four-bathroom, contemporary style dwelling with excellent street appeal and quality finishes and ancillaries such as an indoor pool and outdoor kitchen with a land size of 838 square metres. 
With a suburb median of $1.165 million, this record sale is almost double the median value.
<div class="page" title="Page 23">
<div class="section">
<div class="layoutArea">
<div class="column">
In the prestige space, above $5 million, the limited number of transactions has made it difficult to ascertain how this market is performing since the COVID-19 lockdowns, the report noted. 
A recent Vaucluse sale of a modest single level home, set slightly back from the water with expansive harbour views towards the city and Harbour Bridge, may be a sign of the market having softened. 
The property just sold for $10.9 million in June, having previously sold just under 12 months ago for $11.8 million according to CoreLogic.
</div>
</div>
</div>
</div>
<div class="page" title="Page 23">
<div class="section">
<div class="layoutArea">
<div class="column">
On the flip side, Middle Dural recorded a record breaking sale in April at <a href="https://www.realestate.com.au/sold/property-house-nsw-middle+dural-132107638" target="_blank">52A Cranstons Road</a> (pictured below), the report noted. 
<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/2020/7/13/middle%20dural.jpg" alt="">
The property is a five-bedroom, four-bathroom executive style dwelling with extensive landscaping, inground pool and a tennis court with a land size of 1.44 hectares.
The property sold through LJ Hooker Dural, with the price currently confidential, however reports have suggested an $8 million plus figure which is a significant result for a sub two- hectare block.
</div>
<div class="column">
<div class="page" title="Page 24">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 24">
<div class="section">
<div class="layoutArea">
<div class="column">
A Lazy $700,000
In a property market as diverse as Sydney, $700,000 is going to buy you very little in some parts whilst in others it can still mean a good quality home on a decent sized block of land. 
"We’ve gone around the grounds to show the type of property you would be looking at for this price point in some of the regions in Sydney," the valuation firm said. 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Sydney market sees increasing auction numbers: HTW residential 

<html><body>
Unit rent fell over the quarter and year, representing the sharpest decline in more than 15 years, with rents now at its lowest in half a decade. according to the Domain Rental Report for the June quarter
House and unit rents fell by as much as $50 a week in areas like the city and eastern suburbs.
Tenants are in a strong position to negotiate prices or seek out cheaper properties.
<img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/24eb4c6b-dc5f-491e-9f23-55c9de4700a2.png" data-imagetype="External">June 2020 QoQ change for Sydney rental prices
“Sydney’s rental market conditions have become highly varied. House rents remained stable over the quarter and year, and are 3.6 per cent below the 2017 peak. Rents fell in the quarter across several Sydney regions, tumbling as much as $50 a week in the city and eastern suburbs and $40 a week in the northern suburbs. Tenants are in a strong position to negotiate prices or seek out cheaper properties. Rental price growth appears to be supported by more stable conditions across Sydney’s outer areas while house rents fell substantially in the inner areas. There were also significant increases in advertised rentals in Sydney’s inner areas at a time of weakened demand. Foreign student numbers and overseas migration have plummeted, as well as a drop in tourism. These are also areas more exposed to drops in migration, tourism, jobs losses and have a high portion of rentals.” “For the past two years Sydney unit rents have tumbled annually as tenants benefited from heightened investor activity in previous years, as completed off-the-plan apartments add to supply. The pace of decline has now gathered additional momentum. The depth of the fall over the quarter and year is the sharpest in more than 15 years. Unit rents have now fallen 9.1 per cent from the 2017 peak, pushing them back to the lowest in half a decade. The city and east, inner west and lower north shore have felt the brunt. Deteriorating unit rents have forced Sydney’s gross yields to a record low of 3.66 per cent.” “Tenants now have the novelty of choice. The rapid rise in advertised rentals have put pressure on rents. Tenants are using this as bargaining power to negotiate a deal while landlords compete to lure them. The number of advertised rentals jumped almost 13 per cent across Sydney from March to June, surging 43 per cent in the city and east and 29 per cent in the inner west, as a wave of short-term rentals converted to long-term as border closures curtailed international tourism. Demand has weakened as migration ceases, international students remain offshore and economic uncertainty rattles many tenants, forcing them to evaluate their personal circumstances,” said Domain Senior Research Analyst, Dr Nicola Powell.
</body></html>

Sydney rents hit hardest in the city and eastern suburbs: Domain

<html><body>
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
</body></html>

terryryder-YECXbqmri2

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

<html><body>
Dexus has announced that it has conditionally exchanged contracts to sell 45 Clarence Street, Sydney to Peakstone.
The sale will realise net proceeds of $530 million, which is consistent with the property’s book value at 31 December 2019.
It was bought in 1998 at $165 million.
45 Clarence Street is a 28-level, A-grade office tower across 32,000 square metres, located in the western corridor of Sydney’s financial district and was built in 1990.
On 31 December 2019, the property was 100% occupied and had a weighted average lease expiry of 3.3 years.
The sale was concluded following the receipt of an off-market unsolicited offer from Peakstone, a Singapore headquartered manager of Asian capital, and is subject to the purchaser receiving FIRB approval.
 “This transaction reinforces the resilience of prime quality office asset values in the Sydney CBD and enables us to recycle capital into higher returning opportunities that we expect will become more prevalent over the coming period,” said CEO Darren Steinberg.
The transaction follows the completion or exchange of more than $800 million of property divestments across the group during FY20.
The net sale proceeds will initially be used to repay debt.
</body></html>

Dexus announces conditional contract to sell 45 Clarence Street to Peakstone

<html><body><div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
Renovation is a popular option in many parts of Sydney, particularly in inner Sydney and harbour side locations, according to the latest Herron Todd White (HTW) residential report. 
<div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
The HTW report first provided a short COVID update. 
<div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
"Since last month’s edition, we have seen the number of daily new cases of COVID-19 in New South Wales remain low. We have also seen the first stage of the easing of restrictions and also the lifting of restrictions on live auctions and open homes.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
"This has at least made the process of selling more straightforward and has seen an instant bounce to auction clearance rates, back up above 70% for Sydney, mainly as a result of the number of auction withdrawals returning to more normal levels," the valuation firm said. 
<div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
The last month has still seen prices remain fairly stable overall, however as discussed previously, there are some localities and price points seeing some discounting. This is mainly due to the number of new listings remaining subdued, meaning that supply and demand are staying relatively in balance. 
The report notes that the concern is what will happen later in the year when government stimulus and mortgage pauses end.
There potentially could be a significant increase in new listings, some under distressed circumstances, which could have a large impact on prices heading into 2021.
"In the rental market we have continued to see an increase in vacancy rates and a fall in asking rents. Houses, somewhat surprisingly, have experienced a quicker fall than units over the past two months. 
"With restrictions around travel within the state and within Australia likely to be eased in the coming weeks and months, short-term holiday rentals that have been transferred to the long-term rental market may start to transfer back to the holiday market, easing vacancy rates," the valuation firm said. 
<div class="page" title="Page 5">
<div class="section">
<div class="layoutArea">
<div class="column">
The valuation firm suggests renovation is a popular option in many parts of Sydney, particularly in inner Sydney and harbour side locations where extension and renovation of an existing home is a more viable option than a knock- down and rebuild.
These areas often have heritage and other planning restrictions that make it difficult to get approval to do a complete rebuild, the report noted. 
In addition, it is also desirable to maintain the period features of older dwellings whilst upgrading the fit out and increasing the floor space.
A Victorian residence situated in the heart of Marrickville has recently been sold for $1.5 million. 
The freestanding home at <a href="https://www.realestate.com.au/sold/property-house-nsw-marrickville-133533598" target="_blank">1 Hastings Street</a> (pictured below) presented a good opportunity for renovation. 
It consists of four bedrooms, two bathrooms, large formal and casual areas and front veranda. 
<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/2020/6/10/marrickville.jpg" alt="">
In the middle and outer rings, there is more of an appetite for knock-down and rebuild, increasingly for duplex and small townhouse style developments to take advantage of larger land parcels.
Granny flat builds continue to be a popular option in these areas too, either for extended families or for those looking to obtain some additional rental income.
</div>
<div class="column">
"This doesn’t mean that renovations aren’t an option here, as owners look to enhance their homes by something as minor as a fresh paint or some additional landscaping, through to a full blown second floor addition and full renovation," the valuation firm said. 
</div>
</div>
</div>
</div>
A two bedroom granny flat in Bass Hill is currently on the rental market with a price guide of $400 a week.
The well maintained home at <a href="https://www.realestate.com.au/property-house-nsw-bass+hill-429296034" target="_blank">15A Handle Street </a>features large covered entertaining area, gas cooking and split system air conditioning. 
It is situated close to local schools, transport and shops. 
<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/2020/6/10/bass%20hill.jpg" alt=""> 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Renovation remains a popular option in Sydney: HTW residential 

<html><body>
Sydney’s outlook on housing dipped further in May, despite the easing of pandemic restrictions, according to the UDIA Urbis Home Purchaser Sentiment Survey.
The poll - carried out between May 7 and 12 - found that the proportion of residents feeling ‘very positive’ about the property market dropped six percentage points (to 21 per cent) compared with this time last year.
Overall, homeowners had a more pessimistic outlook than renters.
The proportion of homeowners who were positive about the market fell seven percentage points to 54 per cent over the year.
This was compared with just a two-percentage point drop among renters (down to 50%).
"The report shows a downward shift in sentiment since the last survey, with increased pessimism around purchasing property in the next 12 months," associate director of Urbis Kylie Newcombe said.
"The softening in sentiment was, however, relatively moderate, suggesting cautious optimism by prospective purchasers in the medium-term fundamentals of the Sydney property market.
Almost half of all Sydney residents also believe that house prices will drop in the next six months – more than double the number from a year ago.
Just over one in four believe prices will drop over the next 12 months – a seven percentage points rise compared with a year ago.
The city, and Sydney's east, saw the residents who were the most negative about the prospect of home prices, with 55 per cent expecting prices to drop over the next six months.
More than two-thirds said they were unlikely to buy a property in the next 12 months – a seven percentage points increase from July last year.
And 72 per cent said they were unlikely to buy in the next six months.
In more bad news for apartment developers, 61 per cent said they preferred free-standing houses compared with units or apartments.
However, the report noted that "it is not possible to conclude a relationship between COVID-19 and preferences.”
There was also a strong support for stamp duty reform as a tool to improve confidence among home owners and some renters.
Fifty-four per cent of renters said policies targeting first home buyers would have a positive effect on their confidence.
Given a choice, Sydney residents would like to live in Parramatta, Castle Hill, Chatswood, Blacktown and Balmain.
The poll surveyed 531 Sydney residents.
</body></html>

Sydney housing sentiment slumps further in May: UDIA Urbis Home Purchaser Sentiment Survey

<html><body>
Crown Resorts marked a milestone for its Crown Sydney development on May 22. 
The ‘topping out’ of the building marked the completion of vertical construction for the 275-metre-high hotel resort and residences. 
The building, designed by world renowned architects WilkinsonEyre, is set to change the city’s skyline as well as create over 2,000 jobs in NSW. 
The 'topping out' was marked by a short site visit by the NSW Treasurer, The Hon Dominic Perrottet MP due to COVID-19 social distancing requirements. 
Alongside the Treasurer, was Crown’s Chair, The Hon Helen Coonan, Crown’s Chief Executive Officer, Ken Barton, Crown’s Executive Vice President - Strategy and Development, Todd Nisbet and Group Chief Executive Officer and Managing Director of Lendlease, Steve McCann. 
The continuation of the construction industry in NSW has enabled the site to keep over 1,300 workers employed daily.
There has been almost four million hours of work having taken place during the construction phase in total. 
Ken Barton, Chief Executive Officer of Crown, said: “The COVID-19 pandemic has presented Crown with many challenges and has required us to make some difficult decisions. We are grateful for the NSW government’s decision to keep the construction industry open with strict COVID-19 measures in place. 
"Not only has this supported over 1,300 jobs at our site at a time of great economic uncertainty, it also keeps us on track to provide over 2,000 more jobs when we open.”
Steve McCann, Group Chief Executive Officer and Managing Director of Lendlease, said: “When complete, the transformation of Barangaroo from a disused industrial site to world-class urbanisation precinct will deliver to the people of NSW a once-in-a-generation integrated residential, office, entertainment, transport and leisure destination.  
Crown Sydney will open its 349-room hotel in December 2020, alongside 14 restaurants and bars, and select retail. 
Homeowners at Crown Residences at One Barangaroo, located in the upper floors of the building, are on schedule to move into the building in the first half of 2021.  
Over 1,300 people will continue to work on the interior fit-out of Crown Sydney throughout the remainder of 2020. 
To date:  
<ul type="disc">
<li>Almost 8,000 of the 10,000 glass panels have been placed on the building’s exterior</li>
<li>Almost 237,888 tonnes of concrete have been poured </li>
<li>Over 20,000 tonnes of steel reinforcement and steel structure have been put in place </li>
<li>Over 100 suppliers have been involved in its construction with over 97% of suppliers being local providers operating in NSW and around Australia </li>
<li>Crown has remediated 220,000 tonnes of contaminated material as part of the redevelopment of its site and has contributed to the clean-up and remediation of the Barangaroo precinct throughout the build </li>
</ul>
By the end of fit-out there will be: 
<ul type="disc">
<li>50 different types of marble and stone used throughout the building </li>
<li>The hotel will feature crystal light installations, including 50 custom made designs </li>
<li>Around 1,800 artworks will be installed, 70% of which are by Australian artists </li>
<li>Over 50,000 shrubs and 300 trees grown in local nurseries will be installed</li>
</ul>
</body></html>

Sydney

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Sydney

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News