Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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.

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

Sydney

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Greenland Australia’s latest milestone development <a href="/buildings/omnia-226-victoria-street-potts-point">Omnia</a> in Potts Point, Sydney, is due to welcome new residents to its luxury penthouse suite The Regal. Having recently completed construction of the 294 square metre, twin level residence, the developers have shared some photos of the finished apartment with Urban.com.au. 

<blockquote>
“It’s great to have the opportunity to showcase our first completed penthouse, which perfectly demonstrates our expertise in delivering premium luxury residences for the most discerning of buyers."
</blockquote>

- Sherwood Luo, Greenland Australia’s Managing Director

<h2>EXCLUSIVE PHOTOS OF THE REGAL PENTHOUSE</h2>

<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/screen_shot_2019-06-07_at_3.12.13_pm.png" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-06-07_at_3.12.13_pm.png?itok=KHkFTKFJ" style="width: 580px; height: 385px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></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/penthouse_living.jpg" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/penthouse_living.jpg?itok=mKcMxgbX" style="width: 580px; height: 387px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></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/screen_shot_2019-06-07_at_3.17.29_pm.png" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-06-07_at_3.17.29_pm.png?itok=jc9xWpRG" style="width: 580px; height: 384px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></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/screen_shot_2019-06-07_at_3.17.40_pm.png" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-06-07_at_3.17.40_pm.png?itok=hV6G0vcs" style="width: 580px; height: 387px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></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/screen_shot_2019-06-07_at_3.17.54_pm.png" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-06-07_at_3.17.54_pm.png?itok=Xwbg9zDZ" style="width: 580px; height: 380px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></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/screen_shot_2019-06-07_at_3.18.23_pm.png" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-06-07_at_3.18.23_pm.png?itok=yejkR7FV" style="width: 580px; height: 386px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></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/screen_shot_2019-06-07_at_3.18.32_pm.png" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-06-07_at_3.18.32_pm.png?itok=zY0cclqN" style="width: 580px; height: 383px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></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/screen_shot_2019-06-07_at_3.18.44_pm.png" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-06-07_at_3.18.44_pm.png?itok=bfH4wgJV" style="width: 580px; height: 187px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></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/screen_shot_2019-06-07_at_3.18.53_pm.png" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-06-07_at_3.18.53_pm.png?itok=EeC7MPzf" style="width: 580px; height: 286px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></figure><h2>THREE PENTHOUSES WITHIN THE OMNIA COMPLEX</h2>

<h2>THE REGAL</h2>

The Regal has been designed to the unique configuration requested by the buyer and features four bedrooms – each with an en-suite. Studioaria was tasked with the design of the interiors of the apartments, which feature bespoke joinery, custom carpets, a silk feature wall, leather panelling and luxurious golden tapware.

<blockquote>
“Our design paid homage to the many beautiful Art Deco buildings in the precinct – this was reflected in the custom-made carpets, wall panelling, wall coverings and light fixtures… it’s quite refreshing to see Art Deco inspired details utilised in a contemporary building of this nature.”
</blockquote>

- Paul Greenwood, Director, Studioaria

The apartment also features an expansive lounge, with an organic indoor-outdoor flow and built-in BBQ. A designer kitchen with Gaggenau appliances is situated as the centrepiece of the living area, providing the perfect space to entertain.

<blockquote>
“The client’s brief required a flow from the living and dining areas through to the terrace to create a fluid interaction of space, which is perfect for entertaining – we’re proud to say this has been achieved to great effect.”
</blockquote>

- Paul Greenwood, Director, Studioaria

<blockquote>
“The buyer of this penthouse is delighted with the result and looks forward to entertaining friends and family and taking advantage of having such close proximity to the Sydney CBD and surrounding suburbs.”
</blockquote>

- Sherwood Luo, Greenland Australia’s Managing Director

Smart-home technology systems have been installed, including the C-bus home automation system (which controls lights, curtains etc.) and a Samsung biometric fingerprint keypad and Bluetooth front door access system.

<h2>THE ROYAL</h2>

The Royal is the second sold penthouse apartment within the Omnia complex. Featuring a sculptural helical staircase surrounding a cylindrical lift, the four-bedroom, four bathroom apartment is nothing short of lavish. The penthouse was sold in March this year to a couple from Sydney who purchased the property for $14,250,000 – which equates to a staggering $50,000 per square meter. The couple also purchased a second 2-bedroom apartment in the same building for their adult children, resulting in a combined sale of $16 million.

<h2>THE NOBEL</h2>

The final penthouse on offer, The Nobel, is still on the market and has been designed with reference to the elegance of The Hamptons’ coastal beach house retreats. The Nobel features a freestanding bathtub in the master bedroom, as well as a jacuzzi on the terrace.

<h2>ABOUT <a href="/buildings/omnia-226-victoria-street-potts-point">OMNIA</a></h2>

The $262 million development was brought to fruition by developers Greenland Australia under the architectural lead of Durbach Block Jaggers. The building is situated between Victoria Street and Darlinghurst Road in Potts Point and features a curvaceous hourglass shaped façade. Residents can enjoy convenient access to the on-site Woolworths supermarket, as well as speciality stores and restaurants on Level One.

<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/omnia_harbour_bridge.jpg" rel="gallery-all" title="Credit: Greenland Australia"><img alt="Credit: Greenland Australia" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/omnia_harbour_bridge.jpg?itok=KvHeAQLy" style="width: 580px; height: 326px;" title="Credit: Greenland Australia"></a>

<figcaption>Credit: Greenland Australia</figcaption></figure>
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Olivia Round

First look at Omnia’s The Regal penthouse before buyers move in

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Following spells at both LJ Hooker and Cobden &amp; Hayson, Brigitte Blackman has returned to property group BresicWhitney after six years away, alongside Amber Riethmuller.
Blackman (pictured) works in the inner Sydney market, with a 20-year career.
“In a changing market it’s good to have the right people on your team,” Blackman says.
“It’s inspiring to know you can come back into an office with renewed energy, working with Ivan Bresic, Shannan Whitney and sales leaders I’ve known for so many years.”
Over the same period, BresicWhitney has evolved with locations across Darlinghurst, Balmain, Glebe, Hunters Hill and Rosebery.
BresicWhitney has ranked in the top 20 Great Places to Work.
Co-founder and director Shannan Whitney said Blackman would work across city fringe locations in the east and west.
BresicWhitney’s recently announced three new directors joining the existing shareholding group of Ivan Bresic, Shannan Whitney, William Phillips and Adrian Oddi.
The incoming directors include sales agents Andrew Liddell and Maclay Longhurst, as well as a non-transactional member of the senior leadership group, Will Gosse.
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jonathanchancellor-7SQnKwU6yx

Inner Sydney estate agent Brigitte Blackman rejoins BresicWhitney

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GUEST OBSERVATION
The Greater Sydney Commission <a href="https://www.greater.sydney/metropolis-of-three-cities" target="_blank">has proposed</a> a 40-year vision of a metropolitan region formed of three “cities”: the Eastern “Harbour” City, the Central “River” City, and the Western “Parkland” City. The plan aims to create 30-minute cities, where the community has access to jobs and services in three largely self-contained but connected regions. Thus, Sydney would be polycentric.
<a href="https://images.theconversation.com/files/272465/original/file-20190503-103071-14wvrq1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272465/original/file-20190503-103071-14wvrq1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The Greater Sydney Commission’s Three Cities Plan. <a class="source" href="https://www.greater.sydney/metropolis-of-three-cities" target="_blank">Greater Sydney Commission</a>
A polycentric city has multiple centres of employment, economic or social activity. Local labour markets and residential zones minimise long commutes, create a sense of place and neighbourhood, and strengthen economic agglomeration as companies, services and industries benefit from being close to one another.
However, it is still unclear whether Sydney is actually moving towards such a structure. In our <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/abs/10.1177/0042098019832517" target="_blank">recent work</a>, we developed new ways of measuring polycentricity. We applied these to <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0.55.001%7E2016%7EMain%20Features%7EJourney%20to%20Work%20to%20Place%20of%20Work%7E60" target="_blank">Journey to Work data</a> from the 2016 Census to test how consistent the current centricity patterns of Greater Sydney are with the proposed plan.
How do you measure polycentricity?
Traditionally, employment densities are used as a measure of polycentricity. If the density of jobs in a location is higher than the average density for the entire region, then it is a centre.
However, this simple measure misses a key notion that makes cities what they are: network flows and spatial interactions. People “flow” from one place to another. Employment centres “attract” flows, and residential areas “produce” flows. Thus, a city is a collection of locations that interact dynamically, connected by daily commuting flows.
We proposed a set of new metrics to capture this idea of flows. We defined the net inflow of people to a location as the total number coming to this location to work minus the total number going from this location to work elsewhere. If the net inflows are positive, this place is a centre.
The chart below illustrates the idea. The base arc on the circle shows the number of people “flowing” out of a location to another location. The connecting arcs are coloured black if the net inflows into the focus regions (a), (b) or (c) are positive.
<a href="https://images.theconversation.com/files/272469/original/file-20190503-103053-1y6xdsk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272469/original/file-20190503-103053-1y6xdsk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Testing polycentricity via net inflows: (a) Sydney City and Inner South (Sydney CBD), (b) Parramatta, (c) Eastern Suburbs. Source: The authors
Sydney CBD clearly emerges as a global centre for the whole region. Parramatta is a regional centre. Other locations such as the Eastern Suburbs are not centres at all.
The net inflow to a location can be divided by the total number of trips in the system, so inflow values are scaled from 0 to 1 using a standard statistical procedure. The higher the value, the higher the centre’s rank in the urban system. Here, a score of 1 means the centre is an absolute: all the trips in the system are a net inflow into the centre.
This gives us a trip-based centricity measure. And based on the area of the location, we can calculate a density-based centricity measure.
The maps below show trip-and-density-based measures – (a) and (b) respectively – for Greater Sydney at the Statistical Area Level 2 (representing a community that interacts together socially and economically).
Note the dominant role of the Sydney CBD. The other centres emerge as weak centres. Also, many of the second-order centres are very close to the CBD.
<a href="https://images.theconversation.com/files/272473/original/file-20190503-103060-1ho7ztu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272473/original/file-20190503-103060-1ho7ztu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Visualising polycentricity in Sydney (red indicates highest values): (a) trip-based centricity, (b) density-based centricity, (c) transit-accessibility-based centricity, and (d) auto-accessibility-based centricity. Source: The Authors
The concept of accessibility
Counting the net inflow into a location may provide us with information about general centricity. However, it still does not tell us how easy or difficult it is for people to actually get to jobs. This brings us to the idea of accessibility.
Walter Hansen <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/01944365908978307?journalCode=rjpa19" target="_blank">defined accessibility</a> as “the spatial distribution of activities about a point, adjusted for the ability and the desire of people … to overcome spatial separation”. More practically speaking, a location is accessible if it can be reached within a set time (say 30 minutes) from another location.
We counted the net accessibility of a location by counting the number of jobs minus the number of workers (labour) that could be accessed from a particular location (SA2) in Sydney within 30 minutes. We counted travel time both by car and by public transport during a usual weekday peak hour (Wednesday 8am). Similar to the trip and density measures, accessibility centricities can also be scaled as values between 0 and 1. This allows us to compare across the four measures.
In the maps above, (c) and (d) show the transit and auto-based accessibility centricities based on accessibility for public transport and vehicles. Sydney CBD is highly accessible. The second-order centres show much weaker accessibility.
Takeaways for urban policy and the three-cities plan
The chart below shows the top-ranked centre, Sydney CBD (Level 1 centre), and the lower-ranked subcentres (Levels 2 and 3) emerging from our analysis.
<a href="https://images.theconversation.com/files/274555/original/file-20190515-60570-9791ct.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/274555/original/file-20190515-60570-9791ct.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Identified Level 1, 2, and 3 Centres for the Greater Sydney metropolitan region. Source: Authors
Accessibility planning should guide the design of a polycentric city
The design of polycentric Sydney should be guided by accessibility, the locations of jobs and homes, and subregional labour market organisation.
In short, the region should give priority to making jobs accessible by locating new jobs in emerging centres, instead of a mobility-focused system that takes people to jobs.
Reduce spatial mismatches between jobs and homes
Our results show that Sydney, paradoxically, remains strongly monocentric and strongly dispersed at the same time. The Sydney CBD accounts for 15% of jobs in the region, with the remaining 85% of jobs scattered around in weaker second-order centres and non-centres. Positive correlations exist between percentage of employed workers, trip-based centricity and the subcentre ranks.
But we see significant disparities between these ranks and accessibility centricities. This shows the spatial mismatches for commute lengths in the system.
A subcentre with high trip-centricity, employing a high percentage of workers, but relatively lower auto- and transit-based accessibility centricity, implies that even though a significant percentage of the population comes to this location to work, access to jobs at this centre within 30 minutes is low.
A policy response would be to increase the accessibility of jobs from this location, as it already serves as a centre. This situation is particularly clear in the cases of Parramatta-Rosehill and Macquarie Park-Marsfield. Penrith and Liverpool too have extremely weak accessibility centricity.
Polycentric cities should promote spatial justice
As cities grow in size, commute lengths increase if the labour market for the entire metropolitan region is integrated. Commute lengths will stabilise if a city has a clear polycentric or modular structure.
In the case of Sydney, <a href="https://theconversation.com/what-did-the-rich-man-say-to-the-poor-man-why-spatial-inequality-in-australia-is-no-joke-73841" target="_blank">spatial equity</a> has always been a concern. However, <a href="https://theconversation.com/our-big-cities-are-engines-of-inequality-so-how-do-we-fix-that-69775" target="_blank">inter-city comparisons</a> show city size has a strong bearing on its equity and efficiency.
Our results show it’s increasingly important for larger cities to introduce a framework of subregional labour markets as part of the polycentricity agenda. Enabling shorter commutes for workers will improve spatial equity as well as efficiencies.<img src="https://counter.theconversation.com/content/115847/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Somwrita Sarkar, Senior Lecturer in Design and Computation, University of Sydney
David Levinson, Professor of Transport, University of Sydney 
Hao Wu, PhD Candidate, School of Civil Engineering, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-close-is-sydney-to-the-vision-of-creating-three-30-minute-cities-115847" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

How close is Sydney to the vision of creating three 30-minute cities?

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Sydney topped the rankings for Australia, with Brisbane, Melbourne and Perth all falling middle of the road for the cost of construction, according to a new report. 
The International Construction Costs Report 2019 from Arcadis, the global design and consultancy for natural and built assets, found that New York was the world’s most expensive city, followed by San Francisco and Hong Kong.
Sydney was the most expensive Australian city at 34, followed by: Brisbane (56), Melbourne (61) and Perth (62). The report details the relative cost of construction in 100 of the world’s leading cities. 50 cities were added to this year’s report, including Perth, making it the largest comparison of its kind.
According to the report, the cost of construction in Australian cities was heavily impacted by the economy, which continues to lose momentum since the latter half of last year, with GDP growth expected to be around 2.6% per year for the next two years.
Matthew Mackey, National Director, Cost and Commercial Management Australia Pacific, Arcadis: ‘‘In November 2018 Construction activity levels fell at their fastest rate in nearly four years. This was largely driven by an even steeper decline in the residential sector – although this was largely concentrated in Sydney and Melbourne. However, the total value of non-residential construction is expected to increase in 2019.
“Despite the slowdown in residential construction, the industry is particularly buoyant across the Eastern Seaboard – although this is again confined predominantly to Sydney and Melbourne” said Mackey.
“Cost pressures remain high industry-wide across Australia. This is due to several factors including a robust demand for construction materials, a lack of market competition, skills shortages, increasing energy and labour costs and elevated supplier prices due to strengthening commodity prices. The gap between value and cost continues to reduce and this demonstrates that profit margins will remain tight for both contractors and developers across the construction industry.
‘‘The limited availability of resources, at all levels of the supply chain, has become a major issue – particularly in Sydney and Melbourne where construction markets are quite heated.
‘‘Whilst construction activity in apartments and housing has stalled recently, activity in other sectors such as commercial, transportation and social infrastructure means that this decline is unlikely to be a precursor to an economic downturn.
‘‘The cycle of infrastructure construction is continuing to fuel price increases whilst also creating a significant demand for tradesmen to meet the current and upcoming workload. This demand will continue to put further pressure on both trade pricing and margins. Tender pricing will therefore continue to increase over the short term.”
Top 10 most expensive cities for construction:
<ol>
<li>New York City</li>
<li>San Francisco</li>
<li>Hong Kong</li>
<li>Copenhagen</li>
<li>Geneva</li>
<li>London</li>
<li>Macau</li>
<li>Zurich</li>
<li>Tokyo</li>
<li>Boston</li>
</ol>
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Sydney is Australia’s most expensive city for construction: Arcadis report

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There has been a mish-mash of infrastructure charges across Sydney’s growth areas with some of the highest growth areas being hit with big charges and a poor system for determining costs, according to new research from the Property Council of Australi
The research, originally conducted by Elton Consulting and supplemented with recently released population data from the ABS, claims areas of high growth need a better system for funding infrastructure with the charge placed on one dwelling taking up to 27 mortgage repayments to pay off.
“Sydney is growing and needs infrastructure, but we haven’t got the right funding system for delivering it. Currently communities in high growth areas are paying high infrastructure costs on their homes and this is not sustainable or equitable,” Acting Property Council NSW Executive Director William Power said.
“These areas are quickly developing and so there is often a layer cake effect to the charges – some charges coming from the State Government, others from local government – money drawn from multiple sources for much needed infrastructure.
“The blame for this scenario does not lie with any particular level of government, but rather in a lack of focus and line of site of what is being charged, for what infrastructure and for what community outcomes. This is made worse by the fact that some Councils are trying to administer up to 8 different contribution plans.
“At the moment, no one has a complete view of what is being charged and for what outcome across Greater Sydney and this is resulting in higher charges in some areas than others - It needs a rethink, and our recently elected state government needs to tackle this issue as one of their top priorities.”
The Property Council believes the State Government needs to:
<ul>
<li>Conduct an audit and create an online record of all infrastructure charges across Sydney</li>
</ul>
<ul>
<li>Create an infrastructure charges calculator that tells the community or industry what the infrastructure charge on each dwelling will be in a suburb.</li>
</ul>
<ul>
<li>Give IPART (Independent Pricing and Regulatory Authority) greater resourcing and remit to review more contribution plans, review and edit the essential infrastructure list and ensure the community is getting the right infarstrcure to support growth from these contributions</li>
</ul>
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“Planning Reform and infrastructure charges must be the top two priorities for Minister Stokes and thenew Department of Planning and Industry to ensure Sydney is growing well," Mr Power concluded.
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Infrastructure funding for Sydney needs big rethink: Property Council Australia

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A joint venture between Cbus Property and Scentre Group could see David Jones former men's clothing department become Sydney's next luxury destination. Plans have been lodged for an exciting $300 million transformation of the existing department store into a 49-storey multi-use tower which will also house Sydney's Flagship Westfield department store, and link to its neighbouring Westfield store via a pre-existing bridge and tunnel. 

<blockquote>
“At the heart of these plans is the unequalled opportunity to transform an iconic site from Sydney’s past into a contemporary precinct offering experiences and ambience that reflect the lifestyle and aspirations of our global city.”

- Greg Miles, Scentre Group Chief Operating Officer
</blockquote>

<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/screen_shot_2019-04-26_at_3.31.21_pm.png" rel="gallery-all" title="77 Market Street, design by FJMT. Credit: David Jones"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-26_at_3.31.21_pm.png?itok=J5e12rh9" title="77 Market Street, design by FJMT. Credit: David Jones" width="580"></a>

<figcaption>77 Market Street, design by FJMT. Credit: FJMT</figcaption></figure>A design competition was held with award-winning architects selected to submit their vision for the new development including FJMT, Bates Smart, John Wardle Architects, Make Architects, Woods Bagot with AL_A, and Sydney Architecture Studio with OMA.

<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/screen_shot_2019-04-26_at_3.31.11_pm.png" rel="gallery-all" title="Selected design by FJMT. Credit David Jones"><img alt="" class="image-article-full-width-580px" height="323" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-26_at_3.31.11_pm.png?itok=9El6O3pH" title="Selected design by FJMT. Credit David Jones" width="580"></a>

<figcaption>Selected design by FJMT. Credit: FJMT</figcaption></figure>The selected design by FJMT has seamlessly interwoven the historical context of the existing building with a brand new 22-level modern tower set to sit atop the iconic building. Lower levels will house the new Westfield outlet and premium office space, while the new tower will feature 100 highly coveted boutique apartments. The apartments are positioned to boast spectacular views spanning the CBD, Sydney Harbour and Hyde Park. Strong market interest for collection of luxury apartments is to be expected due to the buildings unparalleled location, views and design. 

<blockquote>
"The addition of the residential tower to the existing building has been designed to have a striking presence on the Sydney CBD skyline.”

- Adrian Pozzo, Cbus Property Chief Executive
</blockquote>

After noticing a significant increase in demand for luxury goods by Westfield customers, the additional space will allow Westfield to increase its luxury collection to approximately 10,000 square metres over three levels.

<blockquote>
“Combined with the existing Westfield Sydney and David Jones’ $200 million investment into its Elizabeth Street store, the development of the David Jones Men’s store site will cement the precinct as Sydney’s pre-eminent luxury retail destination.”
</blockquote>

- Greg Miles, Scentre Group Chief Operating Officer

<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/77-market-pic-1024x433.jpg" rel="gallery-all" title="The original historic building. Credit: David Jones"><img alt="" class="image-article-full-width-580px" height="245" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/77-market-pic-1024x433.jpg?itok=glodixII" title="The original historic building. Credit: David Jones" width="580"></a>

<figcaption>The original historic building. Credit: David Jones
</figcaption></figure>
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The $300 million overhaul: A luxurious future for Sydney’s David Jones menswear store

Rental vacancies continue to increase across most of Sydney: REINSW

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Hong Kong based, Compass Offices, a serviced office and co-working space provider, has announced the opening of it's new Barangaroo business centre.
The new business centre is at the 21st floor of the Symantec Building, located at 207 Kent Street.
A short walk from the Barangaroo Waterfront, this office building gives businesses a number options from open plan workstations to private offices in all sizes.
The Compass Offices Barangaroo site is located near King Street Wharf and Darling Harbour with many of the external offices providing views of Darling Harbour, the Barangaroo Waterfront, and the Sydney Harbour Bridge.
It is a three minute walk to Wynyard Train Station.
“To meet the ever-evolving needs of burgeoning businesses, our hybrid workspaces combine an open and inviting business-casual habitat within a professional and corporate environment,” says Hans Leijten, CEO of Compass Offices.
“We are very happy to see our sixth centre opening in the Australian market. We continue to expand this innovative concept to further locations, thus making it available to even more businesses,” he concluded.
 
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Compass Offices expands to Barangaroo

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The NSW Government has launched an expression of interest process to garner interest from theatre operators in reopening Sydney’s Theatre Royal. 
Situated in the heart of the Sydney CBD, the 1,100-seat theatre designed by Harry Seidler has been closed since 2016.
Its reopening will allow NSW to deliver and host more major touring theatre productions.
Local and international theatre operators or owners are being sought to enter a long-term sub-lease to operate the theatre.
Applicants will be asked to identify any auditorium refurbishment requirements to operate the theatre from 2021.
Minister for Arts Don Harwin hopes reopening the historic Theatre Royal will help make Sydney number one again for musical theatre in Australia.
“With our existing lyric theatres booked out for years, reopening the Theatre Royal will reintroduce a vital part of the city’s cultural history, open up new employment opportunities and provide a boost for the NSW night-time economy,” Mr Harwin said.
“The theatre has an incredible history dating back to the 1820s and its reopening is backed by huge public demand. We are committed to finding the right operator with the right experience to continue its legacy and allow NSW to compete on the global musical theatre stage once more.”
NSW has secured 28 musical and theatre productions for Sydney since 2011. 
The EOI will close at <a href="https://tenders.nsw.gov.au" target="_blank">Wednesday 24 April 2019</a> via the eTendering website.
Sydney's Theatre Royal is part of Sydney's MLC Centre.
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Theatre operator sought to re-open Sydney's Theatre Royal

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Following success on New South Wales’ Central Coast, The Grand Pavilion Indian restaurant has established a flagship fourth location in Sydney’s CBD. 
The restaurant has leased 315 square metres of strata retail space at 261 George Street. 
CBRE’s James Beerworth and Leif Olson negotiated the five-year lease deal at $300,000 per annum + GST, which equates to circa $952 per square metre. 
“The Grand Pavilion has opened its new central location, following a $1 million fitout, in answer to Sydney’s under-representation of premium Indian cuisine in the CBD,” Beerworth said.  
“The space offers an accessible George Street location, with proximity to Sydney’s commercial and hotel market, George Street light rail, Australia Square, the Met Centre and Wynyard Station.”
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