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

Joel Robinson

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

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

WM Residences fills gap in Mordialloc townhouse market

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

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

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

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

NAB funds $1 billion Surfers Paradise apartment development, Palmera

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

First look: Aqualand joins St Leonards apartment party

Sydney

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There have been minimal major shifts in Australia's industrial property markets in the past month, according to valuation firm Herron Todd White's (HTW) latest industrial property clock.
In particular markets at or near their peak such as including Melbourne and the Gold Coast held steady.
There was also no movement in the approaching peak of market category as Brisbane, Geelong and Illawarra joined Sydney and the Sunshine Coast among others.
Darwin and Perth remain the only capital city industrial markets that are not experiencing price growth.
They remain at the bottom of the market alongside Rockhampton and Townsville.
Click <a href="https://www.propertyobserver.com.au/images/2020/2/12/HTW%20Industrial%20Clock%20FEB%202020.JPG" target="_blank">here</a> to enlarge.
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Hobart and Echuca held steady as the only cities in the rising market position while numerous area's including Canberra, Adelaide, Mackay and Mildura remained in the start of recovery slot.
They were joined this month by Cairns and Hervey Bay.
The Central Coast remained in the starting to decline position on the HTW Industrial Property Clock this month, accompanied by newcomer Ipswich..
Newcastle and Orange remain as declining markets, while Gladstone, Toowoomba and South West WA held steady in their approaching bottom of market slot.
In their latest report, HTW valuers said, "market commentators are suggesting that core markets on the eastern seaboard are expected to remain tightly held"
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j.ballantyne1990-6AQqhLzZaK

Sydney's industrial market the most exciting to watch in 2020: HTW Industrial Clock 

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Capital city auctions kicked off strongly over the weekend after the extended holiday season break.
Sydney's success rate sat at 80 percent, with Melbourne close behind on 75 percent.
Volumes were higher across all markets with the exception of Adelaide where the number of auctions held was lower, and Canberra where activity remained steady, CoreLogic said.
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Sydney was the busiest auction market with 428 auctions.
There were 401 Melbourne homes taken to auction.
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Kevin Brogan, at Core­Logic, is tipping continued price growth after clearance rates and home values picked towards the end of 2019.
The weekend results suggest that knocks to consumer confidence from bushfires and the coronavirus crisis are not impacting the residential auction market.
There were 205 Sydney results captured with 165 sold, according to CoreLogic.
There were 246 Melbourne results captured with 185 sold.
The highest confirmed residential sale in Sydney was <a href="https://www.belleproperty.com/listings/870238/5-trouve-street-lane-cove-nsw-2066/" target="_blank">5 Trouve Street, Lane Cove</a>, a four bedroom, two bathroom house which sold for $3,165,000 through Belle.
The 530 sqm building block cost $892,000 in 2008.
There was a $3.35 million pre-auction sale of <a href="https://www.mcgrath.com.au/14-bennett-street-curl-curl-nsw-2096-for-sale-426365" target="_blank">14 Bennett Street, Curl Curl</a> through McGrath.
The five bedroom, three bathroom house, built in 2012, came with initial $2.9 million price guidance.
There were more expensive listings in Mosman and Northbridge that failed to find buyers.
Sydney auction numbers will increase again next weekend with over 500 homes set to go under the hammer.
Cooley Auctions auctioneer Damien Cooley told Domain the average number of Sydney auction registered bidders was six, well up on last year.
The highest known number of bidders was at Wentworthville, in Sydney’s west, where Ray White Parramatta agents and brothers Amit and Ritesh Nayak attracted 43 registered bidders to <a href="https://www.raywhite.com/nsw/wentworthville/2237830/" target="_blank">53 Dorothy Street</a>, a four bedroom home that sold for $1.460 million under the hammer. 
"The Sydney weekend auction hasn’t missed a beat roaring into 2020 with yet another boomtime auction clearance rate - taking off where it left off in 2019," Dr Andrew Wilson from My Housing Market.
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Capital city auction activity ramped up with 1,122 homes taken to auction over the week, with volumes almost doubling on last week’s 625 auctions.
The higher volumes over the week returned a national preliminary auction clearance rate just short of 70 percent.
"As the remaining results are collected the final clearance rate is expected to revise lower, however it’s likely to come in higher than last weeks’ final clearance rate of 61 percent," Brogan advised.
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"Comparing results to one year ago, when housing values were falling and auction markets were much weaker, both volumes and clearance rate are now higher," Brogan said. 
This time last year saw 928 capital city homes auctioned with just over half sold.
Domain advised there was a $1,150,000 Sydney median auction sale.
It was $800,000 in Canberra; $760,000 in Melbourne and $695,500 in Adelaide.
The highest advised residential sale in Melbourne was <a href="https://www.realestate.com.au/sold/property-house-vic-port+melbourne-132716818" target="_blank">80 Ross Street, Port Melbourne</a>, a church ready for residential conversion on a 350 sqm holding which sold for $2,190,000 through Greg Hocking Holdsworth.
The price guidance had been $1.85 million to $1.95 million.
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Melbourne had the cheapest sale among the capitals with $310,000 paid for <a href="https://www.propertyobserver.com.au/https://www.stockdaleleggo.com.au/gladstonepark/property/12723821" target="_blank">4/58 Sharps Road, Tullamarine</a> through Stockdale &amp; Leggo.
It last sold at $262,500 in 2015.
The price guide had been $289,000 to $309,000.
Melbourne auction numbers will continue to rise with well over 600 homes set to be auctioned next weekend.
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There was a 77 success rate at auction in Canberra, the second highest preliminary clearance rate across all capital cities.
Only 36 percent of homes sold at auction in Brisbane.
Brisbane's sales included an original 1900s Queenslander at<a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1LIdvBfsGulFkc0J2xgzYhhd8FmmR3ZNqvDg0gLJOxm+tNaBRWZzhpZGy8lNntt9pCC6+hjffqg6KAPL7oC66cdHAQ17h5gjqzgCqxkzaD2H&amp;rh=ff0059b0fa66e4951abc1dfbee418c74bb6eec6a" target="_blank" rel="noopener noreferrer"> </a><a href="https://www.propertyobserver.com.au/https://raywhitewilston.com.au/properties/residential-for-sale/qld/windsor-4030/house/2236510" target="_blank">23 Sixth Avenue, Windsor</a> sold for $1.165 million through Ray White agent Alistair Macmillian. 
The vendor paid $1.02 million last May "and they did nothing to it."
Developers looked at the site but the buyers were a young couple.
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Sydney auctions kick off 2020 with 80 percent success rate

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EXPERT OBSERVER
Most talking heads, when asked to predict the coming year in real estate, look at the recent past and extrapolate that to the near future. So most commentators have been predicting the recent past. And therefore 2020 is all about Sydney and Melbourne.
More thoughtful forecasters have suggested the growth spurt in the biggest cities in late 2019 will not translate into another price boom in 2020. Some, including Westpac, expect relatively moderate growth in Melbourne and Sydney, with Brisbane leading on price escalation.
Very few ever discuss regional markets – which is unfortunate, because that’s where investors will find some of the best options for 2020, if it occurs to them to look beyond the big cities.
In NSW, I would suggest the best possibilities will be found outside of Sydney. And those who undertake research beyond absorbing headlines and sound bites will be surprised to find the best performers recently have been regional.
When Sydney was going through its post-boom correction in 2018 and the first half of 2019, regional areas of NSW were a notable contrast. Locations throughout the state continued to show growth in sales activity and prices.
The regions outside of Sydney have many examples of win-win-win situation provided by regional centres: affordable buy-in prices, much better rental yields than the big cities and good prospects for steady growth.
Many of these have long-term growth rates (the average annual increase in median house prices over 10 years) of 6% , 7% or more.
Regional centres with those kinds of strong long-term growth rates include Orange, Dubbo, Goulburn, Bowral, Mitttagong, Wyong, Terrigal and many others.
Goulburn near Canberra and Wyong on the Central Coast both have long-term capital growth rates of 7% per year while Bowral in the Southern Highlands averages close to 8% per year, which is competitive with anywhere in Australia.
Many locations throughout Regional NSW have recorded double-digit growth in their median house prices over the past 12 months.
These growth markets are spread widely across the state. Kingscliff in the north near the Queensland border, has risen 12% in the past year and now has a median house price above $1 million. Nearby Tweed Heads has grown its median house price 11% to $790,000.
In the far south of the state, Lake Albert (which is part of the Wagga Wagga market) has risen 13% to $400,000. Another sector of the Wagga market, Tatton, has grown 14% to $556,000, while central Wagga Wagga increased 9%.
Suffolk Park, which is part of the high-profile Byron Bay market, has increased 12% to reach $1.17 million.
Jindabyne in the Snowy River region has delivered a 14% rise in its median house price to reach $715,000, while Gulgong in the Mid Western Region is up 14% to $330,000. Gloucester in the Mid Coast region has increased 17% to $315,000.
Other locations in Regional NSW to record annual growth in the 7% to 10% range include Bathurst, Broken Hill, Cooma, Cootamundra, Cowra, Griffith, Maclean, Merimbula, Mudgee, Singleton, Tumut and Kempsey.
This strong price performance has occurred at a time when the Sydney market has generally been struggling for growth (prior to the revival in prices which occurred in latter part of 2019).
It provides compelling evidence that investors can find good investments with appealing prospects for long-term growth in regional areas.
TERRY RYDER is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Look beyond Sydney for NSW real estate in 2020: Hotspotting's Terry Ryder

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An exciting new boutique terrace development is underway in Sydney’s bayside area of Botany. Comprising of 16 terraces, Montrose is a highly-coveted collection of residences that span two levels, with each home featuring three spacious bedrooms, and a selection of homes offering a luxurious integrated outdoor spa.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/montrose-21-23-daphne-street-botany-1693bcf8d41ea6f1d315b2b8fb802ed0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/montrose-21-23-daphne-street-botany-1693bcf8d41ea6f1d315b2b8fb802ed0.jpg?itok=qkgzIV_J" width="580"></a></figure><h2>The townhouses </h2>

Designed by <a href="/architects/antoniades-architects">Antoniades Architects</a>, the development seamlessly blends with the lush garden surrounds, with each home offering modern luxury living at its finest.

Each terrace will span two levels with both offering vast ceiling heights of 3.1 metres for an abundance of natural light and airflow in each room.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/montrose-21-23-daphne-street-botany-b7e7696f2bb8e75ee2e2159ea89aa383.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="341" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/montrose-21-23-daphne-street-botany-b7e7696f2bb8e75ee2e2159ea89aa383.jpg?itok=wj1MLylk" width="580"></a></figure>The terrace kitchens are complete with the latest fixtures and fittings including top-of-the-range Miele appliances, Caesarstone benchtops and splashbacks, double sinks with gooseneck mixers and elegant pendant lighting. Open-plan layouts cohesively unite the kitchen, dining and living spaces to create central hubs perfect for socialising, sharing meals and relaxing.

All homes have been designed with a light and dark scheme to choose from and are complemented with European oak flooring, and 100% wool carpets all bedrooms. Montrose’s bathrooms include soft-close drawers, discreet heated towel rails and large modern ceramic tiles, with ensuites featuring luxurious freestanding baths and expansive double vanities.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/montrose-21-23-daphne-street-botany-e082f3b20c283b7561a548c6726375f7.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/montrose-21-23-daphne-street-botany-e082f3b20c283b7561a548c6726375f7.jpg?itok=6oQtwfuT" width="580"></a></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/montrose-21-23-daphne-street-botany-a365c8747b62ebea170955caac30a31c.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/montrose-21-23-daphne-street-botany-a365c8747b62ebea170955caac30a31c.jpg?itok=8YdaUaTC" width="580"></a></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/montrose-21-23-daphne-street-botany-8688f8715da68923eb1eb60b016e4d10.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="436" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/montrose-21-23-daphne-street-botany-8688f8715da68923eb1eb60b016e4d10.jpg?itok=wErmYHxb" width="580"></a></figure><h2>The location</h2>

In the heart of Botany and surrounded by leafy streetscapes, Montrose is walking distance to public transport, parks and cafes, and only a short drive to the airport, Westfield Eastgardens and some of Sydney’s best beaches.

Priced from $1,800,000 and slated for completion by July 2021, buyers can move in within the next year. Montrose delivers next-level luxury and offers residents a carefree, low-maintenance lifestyle. For an exclusive tour of the display suite, contact the sales agent today.
</body></html>

Olivia Round

Sydney bayside living: Discover Botany's latest townhouse development

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It comes as no surprise that <a href="https://www.walkscore.com/AU-NSW/Sydney" target="_blank">Walk Score's list</a> rates Sydney as the most walkable large city in Australia. 
The waterfront city has also been deemed <a href="https://images.arcadis.com/media/0/C/0/%7B0C0BECF6-FA5B-49B2-B332-900D50833DEE%7DAAP_MOBILITY%20INDEX_spread.pdf?_ga=2.141593266.1201163471.1579477286-416334874.1579477286" target="_blank">the second most transit-friendly</a> in the country behind Brisbane and in-front of Melbourne. Sydney provides a wide range of transport with ferries, trains, metro and the recently welcomed light rail amongst the many options available. 
Opportunities to cycle have also risen as the city's biking infrastructure has improved in recent years. Significantly more councils have bike lanes with <a href="https://www.cityofsydney.nsw.gov.au/explore/getting-around/cycling/dockless-bike-sharing" target="_blank">stationless shared bikes</a> located and accessible across the city.
<a href="https://mobike.com/au/download" target="_blank">Mobike</a> and <a href="https://www.li.me/en-us/home">LimeBike</a> operate in multiple suburbs and can be tracked and paid on their website and app. LimeBike have, since late 2018, provided <a href="https://www.li.me/electric-assist-bike" target="_blank">electric assisted bikes</a> which has helped encourage more users. 
Sydney is also diverse, home to nearly 200 nationalities, and offers a unique cultural experience with its range of cuisine, museums, galleries, and beaches. 
These are all of metrics Walk Score takes into account when deciding the rankings for each of Sydney's neighbourhoods. Without further ado, here are the <a href="https://www.walkscore.com/AU-NSW/Sydney" target="_blank">top neighbourhoods</a>. 
<h2>1. Haymarket </h2>
Walk Score: 99 | Population: 5,365
"Haymarket is a Walker's Paradise", states Walk Score. "Daily errands do not require a car in Haymarket Sydney." 
Adjacent to Darling Harbour, Haymarket includes much of Sydney's Chinatown, Thaitown and Railway Square localities. 
<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/2020/1/20/1_HAYMARKET%20PADDYS.jpg" alt="" width="557" height="338">
Amongst the neighbourhood's many perks, the proximity of restaurants, bars and coffee shops is highly regarded. There are about eight restaurants, bars and coffee shops, and people in the area can walk to an average of two restaurants, bars and coffee shops in five minutes. 
<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/2020/1/20/2_Haymarket.jpg" alt="" width="557" height="338">
Source: WalkScore 
<h2>2. The Rocks </h2>
Walk Score: 98 | Population: 683
This neighbourhood of historic laneways in the shadow of Sydney Harbour Bridge, has a diverse cluster of people. Interaction mainly takes place at the open-air Rocks Market where street food and handmade items are sold. 
<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/2020/1/20/2_THE%20ROCKS%20MARKET.jpg" alt="" width="553" height="336">
Source: <a href="https://www.timeout.com/sydney/things-to-do/the-rocks-night-markets" target="_blank">TimeOut</a>
The Rocks is home to Sydney's oldest pubs and many upscale harbour-view restaurants. 
This hub of culture is an urban stage of buskers who perform live along the harbour front promenade. The Museum of Contemporary Art offers local and international exhibits. 
<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/2020/1/20/2_Rocks.jpg" alt="" width="555" height="337"> 
Source: WalkScore 
 
<h2>3. Sydney </h2>
Walk Score: 98 | Population: 14,287
<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/2020/1/20/3_Sydney.jpg" alt="" width="550" height="334">
Source: WalkScore 
 
<h2>4. Ultimo</h2>
Walk Score: 98 | Population: 7,106
Located in the inner-city suburb of Sydney, Ultimo is only 2 km south-west of CBD. Broadway is amongst the many attractions of the neighbourhood as well as a range of heritage listed buildings. 
The corporate headquarters and Sydney studios of the Australian Broadcasting Corporation (ABC) are located in Ultimo Centre which houses an auditorium and recording stood. TCS, NITV and Aurora are also located at Ultimo Centre. 
<img src="https://www.urban.com.au/images/2020/1/20/3_Ultimo.png" alt="" width="552" height="335">
Source: WalkScore 
 
<h2>5. Surry Hills </h2>
Walk Score: 97 | Population: 15,379
A constantly evolving area, Surry Hills is notorious for its in-trend scene and cafe culture.
Hip coffee joints, fashion boutiques and global eateries can be found in terraced houses on Crown and Cleveland streets.
<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/2020/1/20/4_SURRY%20HILLS%20CAT%20WALL.jpg" alt="" width="552" height="335">
Source: <a href="https://www.piqsels.com" target="_blank">Surry Hills Cat Wall</a>
This trendy neighbourhood is home to pubs, wine bars, galleries and the Surry Hills Library. 
There is a Surry Hills Market held once a month where street food and vintage goods can be found. 
 
<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/2020/1/20/4_Surrey%20Hills.jpg" alt="" width="553" height="336">
Source: WalkScore 
 
<h2>6. Chippendale </h2>
Walk Score: 97 | Population: 4,069
<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/2020/1/20/6_Chippendale.jpg" alt="" width="545" height="331">
Source: WalkScore 
 
Following shortly behind are the following:
<h2>7. Millers Point </h2>
Walk Score: 96 | Population: 1,742
<h2>8. Darlinghurst </h2>
Walk Score: 96 | Population: 10,096
<h2>9. Newtown</h2>
Walk Score: 95 | 14,142
<h2>10. Rushcutters Bay </h2>
Walk Score: 94 | Population: 2,378
 
 
 
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Sydney's most walkable neighbourhoods

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Sydney is predicted to lead the Asia-Pacific region with more than six per cent capital value growth in 2020, according to Savills Global prime residential forecasts 2020.
Lisbon and Moscow are the only other capitals across the globe to be forecast to see over six per cent gains.
Sydney's growth predicted was attributed to lower interest rates, increasing immigration and continued increase in demand.
Savills did advise however the market remains sensitive to global uncertainty and price rises could be reactive to any fluctuations in the market.
They said the ongoing bush fires may be a near-term mitigating factor for the market as they start to impact on national GDP growth, however it isn't expected to weaken capital city price growth for middle- to upper-priced detached housing or market sentiment. They suggest it will continue to impede growth in rural areas
Paul Craig, chief executive of Savills Australia and New Zealand, said the Australian residential market is reverting upwards fuelled by lower mortgage rates and unfulfilled demand.
“At 31 Aug 2019 CoreLogic’s National price change was -5.2%yoy, at 30 Nov 2019 the National price change had improved to +0.1%yoy. Sydney (was -6.9%yoy) improved to +1.6% and Melbourne (was -6.2%yoy) improved to +2.2%yo", Craig said. 
Prime residential forecasts 2020 and prime capital value price growth 2019
<table class="t1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td class="td1" valign="top">
City
</td>
<td class="td2" valign="top">
2020 growth forecast
</td>
<td class="td3" valign="top">
Capital value growth 2019 
</td>
<td class="td4" valign="top">
£/psf
</td>
<td class="td4" valign="top">
$/psf
</td>
<td class="td4" valign="top">
€/psm 
</td>
</tr>
<tr>
<td class="td5" valign="top">
Lisbon*
</td>
<td class="td6" valign="top">
6% to 7.9%
</td>
<td class="td7" valign="top">
-
</td>
<td class="td8" valign="middle">
£700
</td>
<td class="td8" valign="middle">
$920
</td>
<td class="td8" valign="middle">
€ 8,900
</td>
</tr>
<tr>
<td class="td9" valign="top">
Sydney
</td>
<td class="td10" valign="top">
6% to 7.9%
</td>
<td class="td11" valign="top">
1.7%
</td>
<td class="td12" valign="middle">
£1,270
</td>
<td class="td12" valign="middle">
$1,670
</td>
<td class="td12" valign="middle">
€ 16,100
</td>
</tr>
<tr>
<td class="td5" valign="top">
Moscow
</td>
<td class="td6" valign="top">
6% to 7.9%
</td>
<td class="td7" valign="top">
2.3%
</td>
<td class="td8" valign="middle">
£980
</td>
<td class="td8" valign="middle">
$1,280
</td>
<td class="td8" valign="middle">
€ 12,400
</td>
</tr>
<tr>
<td class="td13" valign="top">
Paris
</td>
<td class="td14" valign="top">
4% to 5.9%
</td>
<td class="td7" valign="top">
6.4%
</td>
<td class="td8" valign="middle">
£1,210
</td>
<td class="td8" valign="middle">
$1,590
</td>
<td class="td8" valign="middle">
€ 15,400
</td>
</tr>
<tr>
<td class="td13" valign="top">
Amsterdam*
</td>
<td class="td14" valign="top">
4% to 5.9%
</td>
<td class="td7" valign="top">
-
</td>
<td class="td8" valign="middle">
£710
</td>
<td class="td8" valign="middle">
$930
</td>
<td class="td8" valign="middle">
€ 8,900
</td>
</tr>
<tr>
<td class="td13" valign="top">
Guangzhou
</td>
<td class="td14" valign="top">
4% to 5.9%
</td>
<td class="td7" valign="top">
0.5%
</td>
<td class="td8" valign="middle">
£890
</td>
<td class="td8" valign="middle">
$1,170
</td>
<td class="td8" valign="middle">
€ 11,300
</td>
</tr>
<tr>
<td class="td13" valign="top">
Hangzhou
</td>
<td class="td14" valign="top">
4% to 5.9%
</td>
<td class="td7" valign="top">
4.8%
</td>
<td class="td8" valign="middle">
£750
</td>
<td class="td8" valign="middle">
$980
</td>
<td class="td8" valign="middle">
€ 9,500
</td>
</tr>
<tr>
<td class="td15" valign="top">
Berlin
</td>
<td class="td16" valign="top">
2% to 3.9%
</td>
<td class="td11" valign="top">
8.8%
</td>
<td class="td12" valign="middle">
£760
</td>
<td class="td12" valign="middle">
$990
</td>
<td class="td12" valign="middle">
€ 9,600
</td>
</tr>
<tr>
<td class="td17" valign="top">
Singapore
</td>
<td class="td18" valign="top">
2% to 3.9%
</td>
<td class="td7" valign="top">
-0.2%
</td>
<td class="td8" valign="middle">
£1,200
</td>
<td class="td8" valign="middle">
$1,580
</td>
<td class="td8" valign="middle">
€ 15,300
</td>
</tr>
<tr>
<td class="td17" valign="top">
London
</td>
<td class="td18" valign="top">
2% to 3.9%
</td>
<td class="td7" valign="top">
-1.5%
</td>
<td class="td8" valign="middle">
£1,460
</td>
<td class="td8" valign="middle">
$1,920
</td>
<td class="td8" valign="middle">
€ 18,500
</td>
</tr>
<tr>
<td class="td17" valign="top">
Cape Town
</td>
<td class="td18" valign="top">
2% to 3.9%
</td>
<td class="td7" valign="top">
-6.3%
</td>
<td class="td8" valign="middle">
£230
</td>
<td class="td8" valign="middle">
$310
</td>
<td class="td8" valign="middle">
€ 3,000
</td>
</tr>
<tr>
<td class="td17" valign="top">
Shanghai
</td>
<td class="td18" valign="top">
2% to 3.9%
</td>
<td class="td7" valign="top">
3.3%
</td>
<td class="td8" valign="middle">
£1,340
</td>
<td class="td8" valign="middle">
$1,760
</td>
<td class="td8" valign="middle">
€ 17,000
</td>
</tr>
<tr>
<td class="td19" valign="top">
Tokyo
</td>
<td class="td20" valign="top">
0% to 1.9%
</td>
<td class="td7" valign="top">
1.9%
</td>
<td class="td8" valign="middle">
£1,650
</td>
<td class="td8" valign="middle">
$2,160
</td>
<td class="td8" valign="middle">
€ 21,000
</td>
</tr>
<tr>
<td class="td21" valign="top">
Los Angeles
</td>
<td class="td22" valign="top">
0% to 1.9%
</td>
<td class="td11" valign="top">
-2.8%
</td>
<td class="td12" valign="middle">
£1,050
</td>
<td class="td12" valign="middle">
$1,370
</td>
<td class="td12" valign="middle">
€ 13,200
</td>
</tr>
<tr>
<td class="td19" valign="top">
Geneva*
</td>
<td class="td20" valign="top">
0% to 1.9%
</td>
<td class="td7" valign="top">
-
</td>
<td class="td8" valign="middle">
£1,470
</td>
<td class="td8" valign="middle">
$1,930
</td>
<td class="td8" valign="middle">
€ 18,700
</td>
</tr>
<tr>
<td class="td19" valign="top">
Beijing
</td>
<td class="td20" valign="top">
0% to 1.9%
</td>
<td class="td7" valign="top">
0.9%
</td>
<td class="td8" valign="middle">
£1,090
</td>
<td class="td8" valign="middle">
$1,440
</td>
<td class="td8" valign="middle">
€ 13,900
</td>
</tr>
<tr>
<td class="td19" valign="top">
Shenzhen
</td>
<td class="td20" valign="top">
0% to 1.9%
</td>
<td class="td7" valign="top">
1.9%
</td>
<td class="td8" valign="middle">
£1,130
</td>
<td class="td8" valign="middle">
$1,480
</td>
<td class="td8" valign="middle">
€ 14,300
</td>
</tr>
<tr>
<td class="td19" valign="top">
San Francisco
</td>
<td class="td20" valign="top">
0% to 1.9%
</td>
<td class="td7" valign="top">
-3.2%
</td>
<td class="td8" valign="middle">
£1,180
</td>
<td class="td8" valign="middle">
$1,550
</td>
<td class="td8" valign="middle">
€ 15,100
</td>
</tr>
<tr>
<td class="td23" valign="top">
Madrid
</td>
<td class="td24" valign="top">
0%
</td>
<td class="td7" valign="top">
0.6%
</td>
<td class="td8" valign="middle">
£550
</td>
<td class="td8" valign="middle">
$720
</td>
<td class="td8" valign="middle">
€ 7,000
</td>
</tr>
<tr>
<td class="td25" valign="top">
Barcelona
</td>
<td class="td26" valign="top">
0%
</td>
<td class="td11" valign="top">
0.7%
</td>
<td class="td12" valign="middle">
£490
</td>
<td class="td12" valign="middle">
$650
</td>
<td class="td12" valign="middle">
€ 6,200
</td>
</tr>
<tr>
<td class="td23" valign="top">
Bangkok
</td>
<td class="td24" valign="top">
0%
</td>
<td class="td7" valign="top">
-1.0%
</td>
<td class="td8" valign="middle">
£670
</td>
<td class="td8" valign="middle">
$880
</td>
<td class="td8" valign="middle">
€ 8,600
</td>
</tr>
<tr>
<td class="td17" valign="top">
Miami
</td>
<td class="td18" valign="top">
-1.9% to 0%
</td>
<td class="td7" valign="top">
-5.4%
</td>
<td class="td8" valign="middle">
£730
</td>
<td class="td8" valign="middle">
$960
</td>
<td class="td8" valign="middle">
€ 9,300
</td>
</tr>
<tr>
<td class="td17" valign="top">
Mumbai*
</td>
<td class="td18" valign="top">
-1.9% to 0%
</td>
<td class="td7" valign="top">
-
</td>
<td class="td8" valign="middle">
£980
</td>
<td class="td8" valign="middle">
$1,290
</td>
<td class="td8" valign="middle">
€ 12,500
</td>
</tr>
<tr>
<td class="td17" valign="top">
Kuala Lumpur
</td>
<td class="td18" valign="top">
-1.9% to 0%
</td>
<td class="td7" valign="top">
-1.0%
</td>
<td class="td8" valign="middle">
£210
</td>
<td class="td8" valign="middle">
$280
</td>
<td class="td8" valign="middle">
€ 2,700
</td>
</tr>
<tr>
<td class="td17" valign="top">
New York
</td>
<td class="td18" valign="top">
-1.9% to 0%
</td>
<td class="td7" valign="top">
-3.0%
</td>
<td class="td8" valign="middle">
£1,910
</td>
<td class="td8" valign="middle">
$2,510
</td>
<td class="td8" valign="middle">
€ 24,300
</td>
</tr>
<tr>
<td class="td27" valign="top">
Dubai
</td>
<td class="td28" valign="top">
-2% to -3.9%
</td>
<td class="td11" valign="top">
-5.8%
</td>
<td class="td12" valign="middle">
£440
</td>
<td class="td12" valign="middle">
$580
</td>
<td class="td12" valign="middle">
€ 5,600
</td>
</tr>
<tr>
<td class="td29" valign="top">
Hong Kong
</td>
<td class="td30" valign="top">
-6% to -7.9%
</td>
<td class="td7" valign="top">
-1.5%
</td>
<td class="td8" valign="middle">
£3,510
</td>
<td class="td8" valign="middle">
$4,610
</td>
<td class="td8" valign="middle">
€ 44,700
 
</td>
</tr>
</tbody></table>
“The RBA and APRA will become concerned as house prices approach 2017 highs (expected in May 2020) and we could see the reapplication of macro-prudential measures to curb house prices and address affordability issues.”
 Savills Australia's director of residential Chris Orr said luxury property in Sydney’s key markets have definitely bounced back.
“Sydney overall has recovered anywhere from 5-7% in blue-chip areas however there are still some local markets where there is an oversupply of apartments which has negatively impacted prices", Orr said.
“Australia as a whole, is considered a growth market at the moment given our recent financial regulations having changed for the better and new re-elected Government which is focussed on maintaining a secure economy."
 
  
 
 
 
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jrobinson-rf4aSBido9

Sydney to lead Asia-Pacific region with six per cent real estate value growth in 2020: Savills

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Construction firm John Holland Group have been awarded the $735 million contract to deliver the new Sydney Football Stadium.
The total estimated cost for the new stadium is now $828 million, which includes demolition, contingency and other associated project costs.
It's almost $100 million over the $729 million budget promised. 
Lendlease <a href="/news/lendlease-announced-as-builder-of-new-sydney-football-stadium">originally held the contract</a>, however earlier this year they said they could not complete the project in time or on budget.
It is slated for completion in time for the 2022 NRL Grand Final which is always held in October.
Premier Gladys Berejiklian said the Government’s decision to re-tender the construction stage of the project was the right one.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/18/Stadium2.jpg" alt="">
“By going back to the market, we have delivered on our promise to achieve better value for the people of NSW,” Berejiklian said.
“We have also ensured that the new stadium will be the highest quality, strengthening our ability to attract the very best sporting and entertainment events.”
“While the estimated total cost for this build is higher than what we originally anticipated, it is much better value than what we would have achieved had we not gone back to the market,” Ms Berejiklian said. “It is important to deliver the world class stadium we promised to attract the best events to our State.”
Acting Minister for Sport Geoff Lee said John Holland had committed to delivering the new Sydney Football Stadium in time for the 2022 NRL Grand Final.
“We’ll be working closely with the NRL and our other important sporting partners to finalise a schedule of fixtures for the second half of 2022,” Lee said.
“We’ve seen the benefits contemporary stadiums bring, with the opening of Bankwest Stadium in Parramatta, and we are confident our investment in the Sydney Football Stadium will deliver the same long-term benefits to NSW.”
Minister for Planning Rob Stokes confirmed the project had received planning approvals.
“We are getting on with the job of delivering the best sporting and cultural facilities so that we can create the jobs and investment our State needs,” Stokes said.
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Sydney Football Stadium to cost $100 million over budget

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The continuation of construction jobs in the property industry looms as the big issue that will likely shape the 2020 property market trajectory.
Sydney apartment approvals have taken a dive and new house approvals are also in decline.
Only 830 attached dwellings were approved across Sydney in October, dramatically down on past Octobers.
The same month last year saw 2400 approvals, with 3700 in October 2017; 3100 in October 2016 and 4000 in October 2015. 
Sydney is not alone in declining approval figures with the trend apparent in Melbourne and Brisbane. 
The trend threatens employment continuity. Having a job ensures mortgage arrears remains low amid highly indebted households.
These building sites jobs are crucial to assist in the overall health of the wider economy.
The number of cranes on our skyline always provide an insight into the cyclical urban economic trends.
Interestingly the crane numbers in Sydney have yet to show any decline in 2019, in fact they have increased by nine to 319, according to the most recent quarterly edition of the RLB Crane Index.
The 2017 peak saw 350 Sydney cranes in the index, which began in 2012.
Residential cranes dominate with 73% of all cranes assisting in the construction of future dwellings.
The residential sector remained strong with 233 cranes, up one from six months ago. 
Strong growth within the commercial office sector saw an additional net six cranes.
Sydney saw 189 cranes added to sites indicating a strong forward workflow while some 180 cranes were removed from completed developments in the past six months.
Cranes across Sydney are following the significant spend on transport infrastructures, especially north along the Pacific Highway, west along Parramatta Road, northeast along the M2 and south along the Kingsway.
Crane activity has declined in the north, but risen in the south, the east and inner Sydney. 
The most significant addition was seven cranes at Meriton’s Pagewood Green. Crane removals saw four taken down at the Greenland’s development in North Ryde along with Ganellan’s nearby Delhi Road project.
Currently Sydney has 42% of all cranes erected nationally, while Melbourne contributes 28%, and Brisbane 7.5%.
Sydney’s dominance has fallen from the high of 52% in 2017.
In the first quarter of 2019 there were 735 cranes counted across Australia, with 530 for residential projects and 205 non-residential developments, including offices, transportation, hotels, education, health and retail.
There were no cities within the index that recorded crane falls in the double digits, a sign that the industry has not yet entered into the economic cycle of falling demand as predicted by some.
But continuity within the typical boom-bust building-buying cycle has never been easy.
And the emerging pipeline certainly doesn't look pretty. The national monthly building approvals have trended lower from about 20,000 to 13,000, which property commentator Pete Wargent suggested "looks very much like a recessionary trend".
Rolling annual approvals are now down from the 2016 peak of 242,000 to 173,000.
Of course securing rezoning and approvals take time. 
“It takes twice as long to have a DA processed in NSW as it does in Victoria and three times as long as in Queensland," Urban Taskforce CEO Tom Forrest said recently.
It is to be hoped the residential price growth experienced in recent months will reignite developer activity in buying sites for apartment construction.
All those tradies in their high visibility vests are counting on it. 
This article first appeared in The Daily Telegraph. 
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jchancellor-FAypfDUnLy

Fewer apartment approvals, but Sydney crane trends signal construction strength 

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At the beginning of 2019, Herron Todd White (HTW) forecast that the wider Sydney market would continue to weaken up until the state and federal elections, with a plateau post-election if other economic indicators remained the same.
In their December report, the property valuation firm found their predictions were accurate regarding the elections being a line in the sand.
What they didn’t predict however was the outcome of the federal election, which meant the well publicised changes to negative gearing and capital gains tax didn’t eventuate.
"It is likely that the market had already factored in these taxation changes, which meant that the election result kick started a more positive sentiment," HTW said.
"Agents anecdotally reported to us that within weeks of the election, their phones were once again ringing hot with renewed interest from both vendors and purchasers.
"Since then, an easing of APRA policy for residential mortgage lending along with three interest rates cuts has prompted a surge in activity in the first home buyer and upgrader markets."
HTW advised this has resulted in a much quicker than anticipated rebound in values in a number of areas, particularly those that experienced larger declines during the downturn.
"Given the above, we have marked ourselves a seven out of ten in regard to our start of year predictions."
The market recovery appears to be in full swing with CoreLogic reporting 5.71% growth in the most recent quarter across the Sydney metro area.
"However, it is important to note that year-on-year, RP Data is still recording a 1.58% loss to the median value," the report noted.
Interestingly, on a year-on-year basis (across the Sydney metro area) units are outperforming houses at +1.29% and -2.45% respectively.
The new unit market is probably seeing more of a mixed recovery with pockets of oversupply along New South Wales with well publicised issues around significant building defects and flammable cladding concerns.
The report noted it is almost 12 months since the Opal Tower was evacuated due to significant building issues.
Since then a number of other unit complexes, including Mascot Towers, have been identified as having significant building issues.
In addition to the building defects, approximately 444 complexes have been identified as having non-compliant cladding.
Settlement valuations were still a concern for a number of new unit complexes with values coming in lower than the off the plan prices agreed upon in a stronger market.
"Many of the units we were valuing in 2019 were purchased off the plan at around the peak of the market," the HTW valuers noted.
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Sydney's quicker than expected price rebound was 2019 highlight: HTW Residential

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EXPERT OBSERVER
With the property markets in Sydney and Melbourne projected to reach new peaks by the end of 2020, it’s back to ‘square one’ for housing affordability. There is also likely to be a new tipping point as well as potential for the reintroduction of macroprudential measures by APRA.
According to RiskWise’s latest Risks &amp; Opportunities Report, Sydney and Melbourne were highly likely to be the top performing markets in Australia next year, well ahead of any others.
It also means both Sydney and Melbourne would be back to ‘square one’ when it came to housing affordability and undersupply of family-suitable properties relative to demand driven by population increases, the biggest (recurrent) issue in the Australian property market since mid-last decade.
And it could spark the reintroduction of macroprudential measures by APRA if ‘speculation’ by investors rises and increases the risk to the financial stability.
New peaks are expected in Sydney and Melbourne with additional peaks reached thereafter more frequently until the market reaches a new tipping point.
This is the point where consumer confidence in relation to house price materially decreases, houses are severely unaffordable for owner-occupiers and investors’ out-of-pocket expenses will mean they are beyond their tolerance point especially with low rental returns.
Obviously the key question is when the new tipping point will be. We’re not expecting one in 2020 but without regulatory intervention there will be one.
He said RiskWise projected strong price increases across a large number of areas in Sydney and Melbourne in the short term, and particularly the long term, thanks to a good (while a somewhat deteriorating) employment market and strong population growth, particularly in Melbourne.
The RBA’s interest rate cuts (the most recent one in October 2019 with the possibility of a further one in the first half of 2020), some loosening of credit restrictions, significant improvement in buyer confidence and increased auction clearance rates provide very strong indications regarding these markets, he said.
Buyer sentiment in relation to housing measures has noticeably improved and the Westpac-Melbourne Institute’s House Price Expectations and Time to Buy a Dwelling Indices show a consistent trend. Auction clearance rates have also recovered and are largely above 70 per cent in Sydney and Melbourne.
As we predicted immediately after the election and in our previous Risks &amp; Opportunities Reports, the market has materially improved with affordable areas that have shown resilience recovering well. Other areas, including lucrative ones that experienced strong price reductions, are now leading the way to this recovery.
However, he said a significant reduction in dwelling commencements would continue to create a problem of undersupply of family-suitable properties in high-demand areas, while there was also a high level of supply of rental properties in some areas.
September ABS dwelling approvals showed a 32.6 per cent drop in Sydney and a 30.3 per cent in Melbourne.
These imbalances are a major issue with a very material impact on dwelling prices particularly those unsuitable for families, he said.
In addition, a sustained period of ultra-low interest rates and, consequently, a significant increase in housing finance, is highly likely to see a rise in investor activity. Sydney and Melbourne have the largest concentration of investors and an increase in their activity will have a major impact on dwelling prices.
However, he said it was possible APRA would consider the reintroduction of macroprudential measures if increased investor activity contributed to double digit growth.
A new tipping point is reached when properties become very unaffordable for owner-occupiers and the out-of-pocket costs for investors become so high, they cease investing. Banks will also become more risk aware and apply additional rules and requirements to ensure serviceability.
Obviously, if APRA reintroduces tighter lending restrictions, this is highly likely to have a negative impact on price increases, potentially not only in Sydney and Melbourne but also other areas of the country.
Interest rate reductions have significantly improved serviceability of both owner-occupiers and investors. However, with low economic growth and effective unemployment above the ‘full employment’ target, it is possible that without a material change to the fiscal policy, the RBA will cut interest rates again during 2020 to 0.5 per cent.
Since moving through a trough in May, the value of new owner-occupier home loan commitments has increased by 17.3 per cent through to the end of September and the value of investor loan commitments is up 8.4 per cent.
Population growth continues to be strong in Sydney at 1.8 per cent, and unemployment sits at 4.3 per cent. In Melbourne population growth is 2.5 per cent (the highest in the country), and unemployment 4.8 per cent.
The latest ABS data on new housing credit also shows a sharp rise in the value of home loan commitments, driven by a surge in owner-occupier lending as well as a smaller rise in investment lending.
APRA is watching the housing market closely, particularly given record-low interest rates, high household debt and signs of some revival in borrowing for speculative purposes.
It should be noted that strong investor activity is perceived by the RBA as ‘speculation’ that increases the risk to the financial stability. Consequently, a major increase in investor activity is likely to trigger the reintroduction of macroprudential measures by APRA.
RiskWise is now working on specific modelling to estimate the tipping point.
DORONG PELEG is the CEO of <a href="http://www.riskwiseproperty.com.au" target="_blank">RiskWise Property Research</a>
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