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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Internal migration loss has seen Sydney slip behind Melbourne in terms of overall population growth, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what's bringing new residents to different residential markets or, conversely, driving them away. 
According to the last census, between 2016 and 2017, Sydney’s population grew by 101,600 people, an increase of around 2%.  Of that, an increase of 84,700 came from net overseas migration, 35,000 from natural increase, while net internal migration provided a loss of 18,100 people (source: ABS).
<a href="https://www.propertyobserver.com.au/images/2019/9/26/abs%201.jpg" target="_blank">Click here </a>to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/26/abs%201.jpg" alt="">
Sydney’s population growth has therefore predominantly been driven by overseas migration. 
In fact, the overall total net overseas migration for Australia between 2016 and 2017 was 262,489 (source: ABS), meaning that 38.7% of that growth can be attributed to Sydney.
The HTW report suggests Sydney is a desirable location for overseas immigrants due to employment opportunities, education facilities and other services and the opportunity to move into an area with a population of similar nationality or culture.
The majority of people who leave Sydney for other parts of Australia go to other parts of New South Wales and Melbourne (source: ABS).
Newcastle, Wollongong and regional New South Wales offer plenty of opportunities for those looking for a sea or tree change, either in retirement or for those looking for a more affordable lifestyle, particularly lower cost housing, or to escape Sydney’s bulging transport and road systems.
"Those areas of Sydney that have seen the largest increase in net internal migration are the growth centres in the south-west and north-west of the city, which have experienced massive new housing growth over recent years through land releases," the valuation firm said. 
<a href="https://www.propertyobserver.com.au/images/2019/9/26/abs%202.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/9/26/abs%202.png" alt="">
The report suggests within greater western Sydney there has been a ripple effect of buyers pushing further west in order to secure more property bang for their buck as urban sprawl continues.
"This is evident within the new land release areas on the outer fringes of western Sydney such as Box Hill and Austral, with a number of local young families and upgraders buying affordable house and land packages or building their dream home for a lot less than the equivalent (and also older) products a few kilometres east," the valuation firm added. 
As has been the case over the past few years, infrastructure has been a massive drawcard for many people in north-west Sydney resulting in people moving to the area who may not have considered it before.
Suburbs such as Cherrybrook, which was often in the shadows of its more sought after neighbour West Pennant Hills, is now bucking the more stable market trend as seen with a recent result of $2,336,000 for a quality built, 25-year-old, original dwelling at<a href="https://www.realestate.com.au/sold/property-house-nsw-cherrybrook-131573546" target="_blank"> 8 Rothbury Place</a> (pictured below).
The home comprises four bedrooms, timber kitchen, formal lounge, rumpus room and family living area. 
It's located just a short walk to the new metro station.
 <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/2019/9/26/cherrybrook.jpg" alt="">
This infrastructure linking the north-west to Chatswood allows for families to send their children to north shore schools without having to pay north shore prices for houses.
"In the outer west, we’ve seen a number of Penrith residents moving to the lower mountains area and the lower mountains area moving to the upper mountains area and the upper mountains residents moving over the hill to Hartley and beyond.
"We’ve also completed valuations for families selling up and moving to regional towns such as Bathurst. This is becoming more popular as technology is allowing people to work more remotely or even allowing certain occupations to work full time from home," the valuation firm said. 
Another example of population movement is in Werombi, a small tightly held semi-rural village located on the outskirts of metropolitan Sydney.
Local agents have been reporting a trend of buyers shifting further west for rural lifestyle holdings given the more eastern rural fringe areas, such as Rossmore, are part of the Sydney Regional Growth Centres Plan. This has seen a spike in interest and rising values for the better part of the last two to three year period.
Up until 2017, this was popular in the north-west of Sydney with Schofields residents on rural lifestyle holdings being bought out by developers and then moving further out to Oakville and Maraylya to escape the chaos of development and hopefully catch the development wave again decades later.
"The great migration of baby boomers is no more apparent than on Sydney’s north shore.
"Baby boomers occupying larger homes on the upper north shore suburbs such as Wahroonga and Turramurra have been selling up and moving to the lower north shore to settle in smaller luxury two and three-bedroom apartments in suburbs such as Mosman," the valuation firm stated.
The existing dwellings the downgraders leave behind are generally purchased by local upgraders or returning expats with younger families wanting to take advantage of the north shore’s quality schools and quiet neighbourhoods.
Over the years these homes are renovated to suit current demands and no doubt when the time comes these owners too will migrate east to the lower north shore to downsize, keeping the tradition alive.
"Interestingly the suburb with the largest negative net internal migration, Parramatta-Rosehill, was the area with the largest positive net overseas migration.
"This would suggest existing residents are moving to other areas, potentially to upgrade from a unit to a house, with new residents from overseas filling the void," the valuation firm said. 
Auburn, Campsie, Lakemba and Kingsford also have a high percentage of unit stock and would indicate that people are looking to upgrade from units to houses but can’t necessarily afford to do that in the suburb in which they currently reside.
<a href="https://www.propertyobserver.com.au/images/2019/9/26/abs%20.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/26/abs%20.jpg" alt="">
"It is no surprise to see that those suburbs with the highest net internal migration are those that have also experienced significant unit construction in recent years.
"This has provided overseas immigrants the opportunity to get more affordable housing in well positioned suburbs, close to major transport links and services," the valuation firm commented. 
Many of these suburbs are also located close to educational facilities which are also a major pull factor for overseas students into these areas.
<a href="https://www.propertyobserver.com.au/images/2019/9/26/abs%204.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/26/abs%204.jpg" alt="">
Chippendale is a small inner city suburb located at the southern end of the CBD and adjoins Redfern to the south.
The suburb was long known for being an older style run down location, however the area has been transformed in recent years, particularly since the opening of the Central Park development by Frasers Property and Sekisui House.
At the 2016 ABS census, there were 8,617 residents in Chippendale with approximately 27% of people born in China and 21% of people born in Australia.
In contrast, at the 2011 census there were 4,057 residents, approximately 38% of which were born in Australia.
During 2016 to 2017, the Chippendale and Redfern area saw a further net overseas migration of 6% (1,418 people) and this trend appears to be continuing.
The report notes a large portion of residents in Chippendale are also students drawn to the area by surrounding educational establishments such as the University of Technology Sydney, University of Sydney, University of Notre Dame Australia and TAFE campuses.
"The essence of the area is changing to supply the demands of the increasing population of students and overseas migrants. This can be seen with the influx of cafés, restaurants and everyday services such as dry cleaning and medical centres," the valuation firm said.
There are some remaining sections of the suburb that still have original terrace style dwellings, however the majority of the suburb has been developed to provide high density style apartment living which is typically required by this younger demographic.
Modern developments such as Central Park usually include common facilities such as swimming pools, gyms, communal areas and concierge services.
Infrastructure and transport routes are established around here with Central train station and multiple bus stops being close by, as are educational facilities, the CBD and other services and amenities.
A current offering is a two bedroom apartment located within Central Park priced at $1.56 million.
The C-803 apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-chippendale-130992034" target="_blank">83 O'Connor Street</a> (pictured below) comes with two bedrooms, two bathrooms, living area with timber flooring and 29 square metre balcony. 
<img src="https://www.urban.com.au/images/2019/9/26/central%20park%202.png" alt="">
The suburb of Chatswood, on Sydney’s lower north shore, has undergone major changes over the past decade.
Chatswood is approximately ten kilometres north of the Sydney CBD and comprises a mix of major commercial development, high density residential development and surrounding detached residential housing on relatively large blocks of land.
Chatswood has a high percentage of Chinese residents, creating a prominent Chinese cultural community.
This is especially evident around its CBD with a vast amount of Chinese businesses, Chinese restaurants and newly developed high-rise developments  predominantly occupied by Chinese residents.
Chatswood is a prime example of a suburb developed to meet the demands of these residents who desire central high density living with access to public transport.
"To meet these demands, we have seen a relatively recent major overhaul of Chatswood train station in conjunction with previously non-existent, high density residential development in and around Chatswood train station.
"In meeting the demands of the demographic in Chatswood, we have seen an increase in population, primarily the consequence of a greater supply of residential units. As Chatswood has continued to develop, demand for housing has been driven not only by the improved infrastructure, but also the desire by the Chinese demographic to be within proximity of the familiarities of the Chinese culture, of which Chatswood has an abundance," the valuation firm commented. 
According to the ABS, as at 31 August 2018, the estimated population growth in the Chatswood (East)-Artarmon area rose by 3.1% over 2016 to 2017.
The estimated population growth in the Chatswood (West)-Lane Cove North area rose by 3.6% over 2016 to 2017.
"Although we are currently seeing less residential development, infrastructure continues to improve to meet the population growth. In addition to the major overhaul of Chatswood train station as mentioned above, Chatswood has a brand new metro station, part of the Sydney Metro Northwest project, connecting Rouse Hill to Chatswood via Castle Hill and Epping.
"The completion of this long-awaited project opens up the southern section of Chatswood and we expect to see this area experience major development in the near future, compounding the already evident population growth in the area." 
A three bedroom apartment located 550 metres to Chatswood station has recently beed sold for $1.41 million.
Located within catchment area of Chatswood Public School, the apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-chatswood-131241814" target="_blank">37/3-5 Freeman Road</a> (pictured below) spreads across two levels with 180 degree views.
It comes with three bedrooms, open plan living and dining area, gourmet kitchen and covered entertaining balcony. 
<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/2019/9/26/chatswood.jpg" alt="">
With Sydney’s population expected to increase to around 6.5 million by 2036 (source: ABS), it is likely that net overseas migration will continue to be the major driver in this growth.
"This population growth will predominantly be in western Sydney but will also see some more established inner suburbs continue to experience urban consolidation through more unit development, as they continue to be the location of choice for those immigrating from overseas.
"This will continue to put further stress on roads, transport and services in established areas while newer areas will require new infrastructure." 
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j.ballantyne1990-6AQqhLzZaK

Which Sydney suburbs are attracting tribes from other suburbs? HTW residential 

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The City of Sydney has brokered a $60 million green energy deal with Flow Power – which is said to be the biggest standalone renewables deal made by any Australian council.

The new initiative will aim to meet the city’s electricity needs using only wind and solar to power all city-owned properties by mid-2020. These properties include pools, libraries, playing fields, depots, council buildings, and even the Sydney Town Hall.

<blockquote>
“It’s exciting to see the City of Sydney take on renewables as the cornerstone of a holistic energy strategy. This deal will empower the City to tap into the wholesale energy market and support the system. This is the forward-thinking approach to energy that will drive us toward the new energy future... We need organisations to lead by example when it comes to their energy strategy. If just 20 per cent of the market followed the City’s lead, it would drive investment in 11 gigawatt of new renewable generation – that’s double the current pipeline of renewable projects.”
</blockquote>

Matthew van der Linden, Flow Power CEO

By converting to renewable energy – specifically three-quarters of energy has been dedicated to wind power and one-quarter solar – the city will save up to half a million dollars over the next 10 years.

Power will now be sourced from the following renewable farms:

<h2>Sapphire Wind Farm</h2>

Farm output: 270 megawatts

Where: Near Glenn Innes, northern NSW

<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/sapphire_wind_farm.jpg" rel="gallery-all" title="Sapphire Wind Farm. Credit: City of Sydney/Sapphire Wind Farm"><img alt="" class="image-article-full-width-580px" height="411" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/sapphire_wind_farm.jpg?itok=UMEKTxyl" title="Sapphire Wind Farm. Credit: City of Sydney/Sapphire Wind Farm" width="580"></a>

<figcaption>Sapphire Wind Farm. Credit: City of Sydney/Sapphire Wind Farm</figcaption></figure><h2>Bomen Solar Farm</h2>

Farm output: 120 megawatts

Where: Near Wagga Wagga, south west NSW

<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/bomen_solar_farm.jpg" rel="gallery-all" title="Bomen Solar Farm. Credit: City of Sydney/Bomen Solar Farm"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/bomen_solar_farm.jpg?itok=jYPz0cZH" title="Bomen Solar Farm. Credit: City of Sydney/Bomen Solar Farm" width="580"></a>

<figcaption>Bomen Solar Farm. Credit: City of Sydney/Bomen Solar Farm</figcaption></figure>The deal will aim to support the state’s drought-stricken areas, create more work opportunities for the community and further reduce harmful emissions – an important step towards Sydney’s transition to a low carbon future.

<blockquote>
“The science is clear, without urgent, co-ordinated and global action to reduce emissions in the next decade, we face a very high risk of triggering runaway climate change. “This new commitment will see the City’s operations cut emissions by around 20,000 tonnes a year – equivalent to the power consumption of 8,000 local households."
</blockquote>

Lord Mayor Clover Moore

Sydney Lord Mayor, Clover Moore also explained that this initiative provides a great opportunity to strive towards the <a href="/news/a-greener-future-green-building-council-australia-discuss-climate-change">Paris climate change agreement</a>. 

<blockquote>
“Successive Australian Governments have shamefully presided over a climate disaster, and now we are at a critical juncture. We can act here in Sydney, but we desperately need the Australian Government to reintroduce a price on carbon to meet our Paris emissions reduction targets, and to establish a Just Transition Authority to ensure Australians employed in fossil fuel industries find appropriate alternate employment.”
</blockquote>

The budget will also allow $5 million to see the creation of a community solar farm project come to life, which will be developed by Repower Shoalhaven. The project will aim to provide local employment, and the ability to generate enough energy to power around 1,000 NSW homes. Anticipated completion of the project has been slated for 2020.

<blockquote>
“We are proud to be a part of this significant commitment from the City to advance a sustainable decarbonized future. This will enable a regional community to participate through the purchase of power from our not for profit scheme and support local jobs. Thank you, City of Sydney.”
</blockquote>

Robert Hayward, Repower Shoalhaven spokesperson

NSW government is also <a href="https://au.finance.yahoo.com/news/nsw-free-solar-panels-save-300-234117410">planning</a> to have 7,800 solar panels installed on buildings across the city by mid-2021.

<h2>A SUSTAINABLE PAST</h2>

Ever since 2006, Sydney has been leading the way in terms of sustainability, starting with a 26% electricity usage decrease, and preceding to become certified carbon neutral by 2011. Over the years the NSW government has facilitated a stream of energy efficiency investments and initiatives to come to fruition. 

These investments include:

<ul>
<li>Replacing 6,500 streetlights with LED bulbs, saving $800,000 and reducing 2,400 tonnes of carbon emission annually</li>
	<li>1,600 solar panels have been installed at Alexandra Canal Depot and have the state’s first utility-installed Tesla batteries. Each battery can store &lt;500 kilowatt-hours of electricity, which is equivalent to the daily needs of 50 city homes or 50,000 mobile phone batteries</li>
	<li>The City of Sydney has partnered with Ausgrid to upgrade the 9,500 Ausgrid-owned street lights to LED, saving 3,500 tonnes of carbon and $1 million in annual maintenance and energy costs</li>
	<li>Solar panels have been installed on over 30 office buildings, pools, libraries and community centres</li>
	<li>40 buildings have been upgraded within the City’s building portfolio to be more energy-efficient, saving 6500 tonnes of carbon emissions and $2.3 million per year</li>
	<li>Energy-efficient technology installed at several swimming pools, saving nearly 1,000 tonnes of emissions per year</li>
</ul>
<h2>FREE SOLAR PANELS FOR NSW HOMEOWNERS</h2>

Another secondary green initiative will also see a series of solar panels distributed to 3,000 low socioeconomic households across the state. NSW government has recently launched an <a href="https://energysaver.nsw.gov.au/households/solar-and-battery-power/solar-low-income-households">online eligibility checker</a> for interested homeowners to find out if they qualify for the trial.

The <a href="https://energysaver.nsw.gov.au/households/solar-and-battery-power/solar-low-income-households">criteria</a> list requires entrants to be currently receiving the Low Income Household Rebate, a valid Pensioner Concession Card or Department of Veteran’s Affairs Gold Card, no pre-existing solar PV system, own your own home (which is not in a retirement village or strata building) and agree not to get the Low Income Household Rebate for ten years.

Applicants must also live in:

<ul>
<li>Central Coast</li>
	<li>North Coast</li>
	<li>Sydney – South</li>
	<li>Illawarra – Shoalhaven</li>
	<li>South Coast</li>
</ul>
Lead image: Matthew van der Linden, Lord Mayor Clover Moore and Robert Haywood. 
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Olivia Round

Sydney says goodbye to coal electricity powering city-owned buildings with $60 million green energy deal

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EXPERT OBSERVATION
The announcement today by the NSW Government of the 2020 commencement of construction of the Sydney Metro West and seven proposed stations between Westmead and the CBD has the potential to unlock tens of billions of dollars in complementary housing development along the metro corridor.
The Government has described the $20 billion Sydney Metro West as a ‘once in a century infrastructure investment’ that will more than double the existing rail capacity between Greater Parramatta and the Sydney CBD, and slash travel times between Parramatta and the CBD to around 20 minutes.
There is no doubt the Sydney Metro West is a major city-shaping project that will underpin strategic areas of urban growth for decades to come. It potentially brings the concept of the 30-minute city within reach for millions more Sydney residents.
It is absolutely critical that this massive investment in transport infrastructure and capacity building is complemented by plans for appropriate development around the new railway stations, in addition to existing rail and metro stations. The development sector has been planning for this announcement and the certainty it provides could spark a generation of construction related employment.
Not only will this assist in relieving unsustainable congestion on our road networks as our population continues to grow, it will also serve to revitalise communities along the metro line by creating new opportunities for local business, retail and social hubs to flourish.
The seven proposed metro stations will be located at Westmead, Parramatta, Sydney Olympic Park, North Strathfield, Burwood North, Five Dock, and The Bays Precinct. The NSW Government also committed to fasttrack the feasibility of building a Metro station in Pyrmont, while also assessing a potential station at Rydalmere.
The Urban Taskforce supports the location of a metro station as Pyrmont as a common-sense response to serving the current and future needs of one of our most populous and vibrant inner-city suburbs and employment centres. The way we see it, it’s a no-brainer.
CHRIS JOHNSON is the CEO of Urban Taskforce
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cjohnson-8xfqfuuCSq

Sydney Metro West to unlock billions of dollars in housing potential

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More than half of all recent off-the-plan (OTP) apartments in Sydney and Melbourne have been settling with a valuation below their contract price, according to the latest findings from CoreLogic.
Their data shows that 60% of OTP apartments in Sydney, and 52.9% in Melbourne are now worth less their their original contract price, based on August settlements.
In 2017 less than 16% of newly constructed NSW units were valued below contract price after they were completed.
CoreLogic's head of research, Tim Lawless, told the ABC when many of these newly completed apartments were originally sold off the plan back in 2016 and 2017, the market was very different.
"We were seeing values rising at about 15% to 20% per annum in Sydney and Melbourne," Mr Lawless said.
"Now cast your mind forward to 2019 and we've seen prices come down in Sydney by 15%. In Melbourne, they're down by about 11%.
"A lot of those off-the-plan buyers have seen a very fundamental shift in the value of the project that they purchased a couple of years ago," he added.
Mr Lawless also brought up the issue of oversupply, as well as concerns around construction quality, remediation costs and flammable cladding.
"That [is] probably also weighing on the minds of people in the marketplace and potentially affecting the resale value of those properties as well," he concluded.
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Majority of OTP apartment on settlement in Sydney and Melbourne worth less than purchase price

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EXPERT OBSERVATION
School catchments have always been important in driving demographics, and how and where families choose to live.
But as the capital cities become denser, this will become more and more so the case.
In Sydney and Brisbane we are now seeing the advent of high-rise inner-city high schools, which is something perhaps more readily associated with countries such as Japan, or elsewhere in Asia.
At the Inner Sydney High School site in Surry Hills, the 14-storey school with a tech and science focus is under construction, but isn’t due to open until 2020.
Yet already applicants from outside the catchment area are being sidelined onto a waiting list.
<img src="https://gonextlevelwealth.com.au/wp-content/uploads/2019/10/Catchment.jpg">
Aspirational parents will have a natural desire for their children to be able to access the high-tech facilities and state-of-the-art modern classrooms, and as such we can reasonably expect that they’ll move heaven and earth to achieve that end.
When fully constructed the Inner Sydney High School will provide education for 1,200 students.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. 
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pwargent-M4siyDbqQY

Why school catchments are becoming critical: Pete Wargent

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Sydney’s price recovery has yet to reach all suburbs, according to realestate.com.au chief economist Nerida Conisbee.
“We are starting to see the ripple effect, but recoveries take time.”
Ms Consisbee said that the recovery was yet to show up in cheaper suburbs.
“Sydney premium is doing very well,” she said. “It’s mostly a premium market story.
“It’s not spreading to apartments,” she added. “If you go to Parramatta, just try to find an apartment that’s gone up (to boomtime prices).
“The recovery is under way but it takes time to flow through.”
It was mortgagees at Parramatta who sold sold Sydney’s cheapest weekend auction offering , when $470,000 was paid for a two-bedroom apartment.
The unit, that had 88sq m internal space plus a lock-up garage, sold to an investor.
“Six months ago there were hardly any investors in the market,” the apartment’s Laing &amp; Simmons selling agent Jas Singh said.
“The market was in the doldrums but lately investors have started to return therefore signs of improvement are becoming visible.”
There were 11 registered bidders for the 1980-built Parramatta apartment.
Mr Singh noted there had been $500,000 plus sales of similar apartments in the complex in the years prior to the downturn.
“Prices are beginning to come back, as I think six months ago it would have sold for $420,000,” he said.
In his SwitzerDaily commentary, John McGrath endorsed CoreLogic data that put Sydney middle market prices as being up 3.2 per cent and the lower market at 2.1 per cent in the September quarter.
“People are constantly asking me, ‘Where are we in the cycle?’,” he said.
“I can see why many people have been looking at the market a bit quizzically over the past few years.
“We’ve had five years of growth (25 per cent to 75 per cent), 18 months of correction (down 5 per cent to 20 per cent) and a small rebound to the positive.
“It’s not material yet in price but auction rates have shifted up after APRA finally loosened the strings and official interest rate cuts began having an impact.”
Mr McGrath added some “might have had a slightly different experience depending on the micro-market you live”.
There were 581 auctions across Sydney on Saturday, with 467 results captured and 395 sold.
Sydney returned a preliminary clearance rate of 84 per cent across similar volumes week-on-week.
Eleven of Sydney’s 15 sub-regions had a clearance rate of 80 per cent or higher, confirming an emerging market confidence across the city.
“It is the second week that Blacktown has returned a preliminary clearance over 90 per cent,” CoreLogic auction analyst Kevin Brogan noted.
North Sydney and Hornsby returned the next highest clearance at 88 per cent.
Brogan said there was only going to be a small rise next Saturday at 620 listings.
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Sydney’s price recovery has yet to reach all suburbs: REA's Nerida Conisbee

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The Sydney metropolitan industrial market remains an attractive home for capital with investors chasing yields and potential for capital growth, according to the latest report from valuation firm Herron Todd White.
The property valuation firm found, the effects of this current demand are partly driven by a lack of available supply. Demand remains strong across most sectors of the market, from entry level to large scale assets.
In the second quarter of 2019, approximately 70,000 square metres of industrial supply was added which is 46 per cent below the approximate 130,000 square metres added in the same quarter of 2018.
Industrial land values have grown at a reported 14 per cent annually over the past five years.
The HTW valuers said, "indeed, the New South Wales Valuer General has recently undertaken land valuations across the state that resulted in significant growth in industrial land values, with industrial land showing the strongest overall increase amongst all uses. The average industrial statutory land value increased by 17.5 per cent."
"Notable local government areas that have seen increasing land values include Cumberland and Blacktown."
"The lack of land supply and increased demand for smaller assets has led to the development of a number of multi-unit strata developments, including Primewest’s estate project, Interlink Strathfield at Enfield and a three level, multi-storey, 44 industrial unit plus 90 storage unit development at Revesby, known as The Mavis Quad in Sydney’s South."
"The upshot of the lack of supply and rising values is a further tightening of yields which we expect to be at or close to the firm end of the current cycle, with entry level stock often sitting at sub five per cent, particularly with respect to owner-occupier markets where owners place less reliance on yields and cash flow as properties are purchased for their own usage," they added.
As a result, the achieved market yields for properties sold with vacant possession tend to be lower than those associated with investment sales.
Large format industrial yields are currently sitting in the general range of six to seven per cent.
The valiers stated, another factor that has contributed to growth in the Sydney industrial market is the ongoing upgrades to transport networks that will serve to better connect industrial precincts across Sydney, particularly with respect to western Sydney.
Current projects include WestConnex, Western Sydney Airport at Badgerys Creek, Pacific Highway upgrade, NorthConnex and the Northern Road upgrade.
A further $50 billion has been committed to various future projects, HTW noted.
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Sydney industrial land values see 15% growth in 5 years: HTW Industrial

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Throughout the second quarter of 2019, the total value of resales for a profit in Sydney was $4.404 billion and the total value of resales at a loss was $178.7 million, according to the latest Pain &amp; Gain report from CoreLogic.
Based on this data, Sydney accounted for 24.6% of all resales at a profit nationally over the quarter and 27.0% of the total value of resale losses.
<img src="https://www.urban.com.au/images/2019/10/1/PG%20Sydney%202.JPG" alt="">
The council areas with the lowest share of resales at a loss over the quarter were Randwick, The Hills Shire and Hawkesbury while the greatest share of loss were recorded in Strathfield, Botany Bay and Strathfield.
With dwelling values in Sydney starting to rise over recent months CoreLogic believes we are likely to see the share of resales at a loss fall over the coming quarters.
<a href="https://www.propertyobserver.com.au/images/2019/10/1/PG%20Sydney%201.JPG" target="_blank">Click</a> to enlarge
<img src="https://www.urban.com.au/images/2019/10/1/PG%20Sydney%201.JPG" alt="">
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Sydney resales accounted for 25% of all profitable resales this quarter: CoreLogic

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Salesforce has announced a Salesforce Tower Sydney, a 53 storey office tower in the heart of the CBD.
Upon completion in 2022 not only will the building be the tallest in Sydney but also the second tallest in Australia.
Salesforce employees will start moving into Salesforce Tower Sydney beginning in late 2022.
Plans for the building include a top “Ohana Floor” an open hospitality space for Salesforce employees, customers and partners, which will also be available for non-profits and local education groups on weeknights and weekends at no cost.
Salesforce Tower Sydney is one of ten Towers the company has announced including its headquarters in San Francisco, New York, Chicago, London, Tokyo, Dublin, Indianapolis and Atlanta.
The announcement comes on the heels of Salesforce being named Australia’s Best Place to Work. 
They also plan to hire an additional 1,000 employee's in Australia.
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New Salesforce Tower Sydney to be tallest building in the city

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Whilst there are obvious fundamentals that appeal to all sectors of the property market, many aspects that appeal to first home buyers may not be as important to upgraders or prestige end buyers, according to the latest Herron Todd White (HTW) residential report. 
The report notes along the coast it may be proximity to the beach or harbour, whereas on the fringes it might be the size of the block of land or the level of accommodation.
"Generally, first home buyers are looking to enter the property market at the affordable end of the market."
"This will mean making certain sacrifices in regard to location or size and condition of improvements. Despite this, there are still fundamentals that will attract these buyers," the valuation firm said.
Within inner-city Sydney, owner-occupiers at the cheaper end of the market (generally being sub $1 million) are looking for proximity to lifestyle amenities.
This market purchases one and two- bedroom units, often without parking in older to semi-modern complexes in average condition.
This demographic primarily comprises 20- and 30-something, young professional couples and singles who are happy to pay a premium to be within close proximity of the CBD in order to reduce their commute time and improve their work life balance.
"In turn, they often seek proximity to public spaces such as parks, for example Moore Park, Prince Alfred Park or Rushcutters Bay Park, and social and dining hubs such as Surry Hills or Potts Point," the valuation firm said. 
Since many go without cars, proximity to public transport is essential, whether that is a major thoroughfare such as South Dowling Street or Oxford Street for frequent bus services, or a train station for access to the CBD and surrounds such as Redfern, Kings Cross or Central.
"The main fundamental for first home buyers in Western Sydney is the same as for upgraders and prestige buyers - location, location, location!" the valuation firm stated. 
Whilst that won’t necessarily mean close proximity to the CBD, it will still mean proximity to services and transport.
The type of asset that first home buyers will be looking at will be the major difference.
First home buyers in Western Sydney these days are generally buying property sub-$650,000.
"For that sort of money, you are buying a modern two- bedroom unit in a north-western suburb such as Castle Hill, or a detached house in the outer west suburbs such as Blacktown or Penrith.
"Being close to motorways and rail, but not too close, is key for commuting western Sydney residents," the valuation firm said. 
Affordable property with close proximity to major services such as shopping and transport links for the sub- $650,000 price range will generally be medium to high density real estate.
An example is the recent sale of a modern two-bedroom, two-bathroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-castle+hill-130391354" target="_blank">153/23 Crane Road, Castle Hill</a> (pictured below) for $650,000.
This unit is within walking distance of Castle Towers shopping centre and the newly constructed North West Metro station.
 <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/2019/8/27/castle%20hill.jpg" alt="">
Given the cost of detached dwellings in the local area, units such as these are popular with first home buyers due to having the right balance of proximity to key services and price point.
For slightly less at $635,000, first home buyers can purchase a modern three-bedroom, two-bathroom terrace in the Thornton Estate in Penrith.
This property is within close proximity of Penrith train station and shopping precinct.
The report suggest for first home buyers with a little more to spend and with the need or want for a house on a good size block of land, there are opportunities available in good suburbs in the middle ring of Sydney.
Peakhurst is located around 20 kilometres to the south-west of the CBD and is close to two train lines and the M5 motorway.
The downturn in prices over the past two years has made Peakhurst an attractive option for those looking to buy a property with a budget of under $1 million.
A recent deceased estate sale at<a href="https://www.realestate.com.au/sold/property-house-nsw-peakhurst-131280630" target="_blank"> 11 Clarendon Road</a> (pictured below), located within walking distance of Riverwood railway station and shopping strip, saw a two level, 1960s brick and hardiplank dwelling with four bedrooms, two bathrooms and double carport on 531 square metres of land.
The property was in very basic condition with some upgrades or renovations required, however provided good entry level value at $825,000.
<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/2019/8/27/peakhurst%20.jpg" alt="">
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