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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Sydney's vacancy rates have edged 0.1 percent higher, according to research from the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the October 2018 REINSW Vacancy Rate Survey saw metropolitan Sydney vacancy rates up 0.1 percentage points to 2.9 per cent. 
“There has been a slight slowing in those seeking rental accommodation in Inner and Middle Sydney while the Outer Sydney market saw interest increase,” Pilkington said.  
Click here <a href="https://www.propertyobserver.com.au/images/2018/11/16/Sydney-vacancy.jpg" target="_blank">to enlarge.</a>
 <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/2018/11/16/Sydney-vacancy.jpg" alt="">
“Inner Sydney rose 0.4 percentage points to 2.8 per cent, Middle Sydney increased 0.1 percentage points to 3.2 per cent and Outer Sydney fell 0.1 percentage points at 2.8 per cent.” 
In the Hunter, vacancy rates slipped 0.3 percentage points at 1.6 per cent, with Newcastle down 1.1 percentage points at 1.8 per cent off the back of a stronger market.
Click here <a href="https://www.propertyobserver.com.au/images/2018/11/16/Vacancy2.jpg" target="_blank">to enlarge.</a>
<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/2018/11/16/Vacancy2.jpg" alt="">
The Illawarra fell 0.1 percentage points despite Wollongong being up 0.1 percentage points to 2.2 per cent. 
 
Across regional areas, Albury remained steady at 2.2 per cent, New England rose 0.3 percentage points to 2.5 per cent and the South Coast fell 0.1 percentage points at 1.8 per cent.
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jrobinson-rf4aSBido9

Rental availabilty in Sydney Metro rises 

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A review of housing completions across metropolitan Sydney indicates that many councils are not carrying their fair share of growth.
The Department of Planning’s Housing Monitor lists housing completions across all of Sydney’s councils each month.
The top ten councils are completing more than 2,000 homes each over the last year but the bottom ten councils are only averaging around 200 homes a year.
Leading the development of new homes over the last year are the City of Sydney with 4,351 completions, The City of Parramatta with 4,231, Blacktown with 3,325 and Bayside with 3,073 new homes.
At the other end of the housing supply performance are Willoughby with 201 completions, Randwick with 200, Waverley with 119 and Mosman with only 8 new homes.
The housing completion numbers are taken from September 2017 to August 2018 from the NSW Government’s Housing Monitor for each council across Metropolitan Sydney.
The council areas that should be pulling their weight more are the ones with good rail infrastructure like the North Shore rail line.
It is disappointing to see that Willoughby with its excellent rail connections is in the bottom 10 performers with only 201 housing completions.
Other North Shore councils with rail stations that seem to be not pulling their weight on housing supply include Ku-ring-gai (899), Hornsby (724), North Sydney (638) and Lane Cove (605).
The Eastern Suburbs, admittedly with smaller councils, that are under performing are Randwick (200), Waverley (119), and Woollahra (73).
These suburbs are close to the quality jobs in the CBD and are very desirable places to live.
The best performers are two councils which are the focus of the Greater Sydney Commission’s ‘Metropolis of Three Cities’ concept in the form of Sydney and Parramatta, The City of Sydney topped the list with 4,351 new homes completed over the last year followed by the City of Parramatta with 4,231 new homes.
The Greater Sydney Commission’s Sydney District Plans identify 5-year housing targets to be achieved by 2021 for each council area.
A number of councils are well on track to achieve their targets including Penrith which needs to complete 1,320 new homes a year and exceeded this in the last year with 2,271 completions.
The City of Ryde has a target of 1,520 new homes a year but completed 2,275 new homes over the last year and Bayside Council has a target of 2,030 new homes a year over 5 years and exceeded this with 3,073 in the last year.
A number of councils are performing below the GSC targets including Randwick which has a low target of 450 a year but only achieved 200 over the last year.
Georges River Council has a target of 960 new homes a year but only achieved 495 completions over the last year.
The Urban Taskforce believes part of the concerns related to over development are coming from councils that are carrying the major housing growth on behalf of Greater Sydney.
There needs to be a fairer distribution of growth across the whole of Sydney particularly where good public transport infrastructure exists or is being constructed.
<img src="https://www.urban.com.au/images/2018/11/15/Housing%20Completions%202018.JPG" alt="">
CHRIS JOHNSON is the CEO of Urban Taskforce 
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Sydney’s growth is not being spread evenly across councils: Chris Johnson

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EXPERT OBSERVER
The recent Greater Sydney Commission policy on industrial and urban services land across Sydney is too narrow in its scope.
An ‘Information Note’ and a policy document from the Greater Sydney Commission’s (GSC) ‘Thought Leadership Series’ titled A Metropolis that works outlines the GSC’s policy on employments lands and advises planning authorities to take a very narrow view of land use across metropolitan Sydney.
The advice is issued in a pre-election environment where concerns have been expressed by some community groups about the extent of apartment development in Sydney.
While the GSC’s policy picks up on the Greater Sydney Region Plan objective on industrial and urban services land it does not refer to the exception to the objective for the Parramatta Road area as outlined on page 133 of the Region Plan.
This leaves land owners in an uncertain position on the relevance of the Parramatta Road Corridor Urban Transformation Strategy which gave clear envelopes and new uses for current industrial land in the corridor.
The GSC document implies that there is a significant shortage of industrial land across Sydney but major areas are planned for industrial use south west of the Western Sydney Aerotropolis, the extension to the Western Sydney Employment Hub and areas of proposed industrial land in the North West and South West of Sydney.These land areas need to be released.
The Urban Taskforce believes that the proposed ‘retain and manage’ approach to industrial land in the Eastern City is too restrictive and will eliminate many sites that could provide large precinct developments that incorporated jobs, infrastructure including parks, child care, health and community centres and residential development.
Community concerns about the extent of apartment development in Sydney can be partly resolved by incorporating infrastructure, parks and community services for education and health within a mixed use development.
An example is East Village in Zetland that incorporates a car service centre, a medical centre, a Montessori Academy and a supermarket as well as a sky park and 206 apartments.
Another example is Central Park on Broadway where child care, health centres, parks and community facilities are provided along with the apartments.”
The Urban Taskforce proposes a new approach to balancing Sydney’s growth along with the need for urban services and industrial uses as outlined in our 6 point plan:
1. Ensure that at least 10,000 hectares of industrial land is zoned in North West and South West Sydney and around the Aerotropolis.
2. Release fifty percent of the Retain and Manage industrial land in the Eastern City and the Central City for mixed use development that includes urban service uses.
3. Identify industrial land in the Eastern City and the Central City that is economically unviable but would provide sites for mixed use precincts with significant housing as well as jobs.
4. Develop a more detailed analysis of urban service uses that are compatible with mixed use development and define the percentage of job producing areas within mixed use zoning.
5. Develop a more detailed analysis of industrial uses and their preferred location in the city including freight and logistics.
6. Establish a high level assessment body to give guidance to land owners and developers on which lands are appropriate for mixed use development that includes urban services.
The Urban Taskforce is developing its own Thought Leadership Report on the changing nature of jobs in metropolitan Sydney and where industrial and urban service jobs are best located.
The report will also look at ways to diffuse the current concerns about new apartment development by proposing an approach that can provide infrastructure and community uses with a mixed use development that also includes jobs.
Chris Johnson is the Urban Taskforce CEO 
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Greater Sydney Commission approach to industrial land is too narrow: Chris Johnson

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The combined national capital cities returned a final auction clearance rate of just 46 percent over the last week.
It was weighed down by a particularly weak performance from Sydney of 44 percent.
The initial clearance rate advisory from CoreLogic last weekend was 52 percent.
It marked the fourth consecutive week where the combined capital city auction clearance rate fell below 50 per cent.
In Sydney, the final auction clearance rate fell slightly to 44.6 per cent last week, down from 45.1 per cent the previous week.
<img src="https://www.urban.com.au/images/2018/10/25/CL%2021%20OCT%20Clearanct%20Rates%202.JPG" alt="">
There were 675 Sydney auctions held last week, increasing from the 647 the previous week, however lower than the 823 last year when a higher 61.3 per cent sold.
Geelong was the best performing non-capital city region last week, with 48.2 per cent of the 34 auctions successful. However, the Hunter region was host to the highest number of auctions (59).
There were 2,139 total homes taken to auction, having increased on the 1,851 auctions held over the week prior when a higher 47 per cent cleared. This week last year, 2,519 homes were taken to auction across the combined capitals returning a final auction clearance rate of 64.7 per cent.
<img src="https://www.urban.com.au/images/2018/10/25/CL%2021%20OCT%20Clearanct%20Rates%201.JPG" alt="">
The region with the lowest clearance rate was also in Sydney, it was Sutherland.
Sutherland had a clearance rate of just 29.2 percent on 24 homes.
Indicative of Sutherland's low clearance rate is <a href="https://www.realestate.com.au/property-house-nsw-gymea+bay-129415314" target="_blank">222 Ellesmere Road, Gymea Bay </a> (pictured above).
With an asking price of $1,250,000 the three bedroom one bathroom home was passed in.
The home is set on 556 sqm and features a one car garage.
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j.ballantyne1990-6AQqhLzZaK

Sydney at 44% in updated weekend auction clearance rates

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An 88 sqm office suite located within the Sydney CBD has been sold.
It was offered by Yosh Mendis for Cushman &amp; Wakefield Sydney. 
The office situated at <a href="https://www.commercialrealestate.com.au/property/302-67-castlereagh-sydney-nsw-2000-2014581145" target="_blank">302/67 Castlereagh Street</a> features high ceilings, the abundance of natural light, and back-to-base security system.
It is surrounded by occupiers including Dior, Chanel, Bvlgari and Prada.
It is within walking distance to MLC Centre, Law Courts, Martin Palace, Hyde Park, Wynyard, Sydney Towner, Westfield and Pitt Street Mall.
This boutique strata office was offered for the first time in 40 years. 
 
 
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Sydney CBD strata office sold after four decades

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Median weekly house rents in Sydney remained steady over the September quarter and year at $550 per week, according to the latest rental report from Domain
The report found, house rents have now flatlined for a year and a half while unit rents declined by 0.9% over the quarter and year - this is the first time unit rents have declined annually since records began in 2004. 
Although gross rental yields in Sydney remain low relative to the other capitals, declining property prices have seen house and unit yields experience the strongest annual improvement since 2012.
Sydney unit rents have now declined from an all time high in response to an increase in rental supply.
Domain Senior Research Analyst, Dr Nicola Powell said: "Advertised rental stock is currently at a new record high, with the growth in unit rentals hitting a pace not seen in six years. Tenants will find they have considerably more houses and units to choose from than this time last year."
<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/2018/10/10/domain%20sydney%20.jpg" alt=""> If advertised stock levels continue to track higher, it should put downward pressure on rents.
Although strong levels of migration, combined with the barrier of high house prices, may help to counterbalance this. "Current conditions however, will make landlords think twice when deciding to raise rents. It is highly likely we will see more incentives at play, with landlords keen to attract and retain good tenants," said Powell.
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Sydney unit rents decline for the first time in 14 years: Domain

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Sydney has been a hot spot for renovators over the past several years which is largely due to high demand levels, low interest rates and record capital growth in underlying value levels, according to the latest Herron Todd White (HTW) residential report. 
"While we have seen this renovation trend booming across most property types and locations throughout Sydney, we are now starting to see some property types, price points and locations reacting differently to the changing markets and property cycle," HTW suggested. 
It appears that renovation and construction have been on the rise over the past year or two within inner Sydney. Generally additions or extensive renovations are more popular on the inner eastern side of town (Darlinghurst, Paddington, Surry Hills), often with significant architectural prowess.
"As inner Sydney is an expensive area, renovations or additions would be more appealing to some than the costs and hassle of moving," the report suggested. 
On the inner western side of town, whilst renovations and additions are still common around the very inner areas (Newtown, Camperdown, Glebe, Chippendale) as you get further out to Leichhardt, Lilyfield and Strathfield, knockdown and rebuilds are more common due to larger blocks, fewer heritage restrictions and better accessibility (from a materials perspective).
HTW noted that Darlinghurst has seen quite a few well renovated homes sell recently. Darlinghurst neighbours the superior suburbs of Paddington to the east and Potts Point to the north, with inferior Woolloomooloo to the north-west and slightly inferior Surry Hills to the south.
A recent example of a well renovated home is<a href="https://www.realestate.com.au/property/4-thomson-st-darlinghurst-nsw-2010" target="_blank"> 4 Thomson Street, Darlinghurst</a> (pictured below) which sold in original condition for $1.4 million in July 2015 and after being fully renovated, sold again for more than double in June 2018 for $2.9 million. While this represents a very strong increase, it needs to be noted that this time period also had the benefit of record capital growth regardless of renovations.
<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/2018/10/2/darlinghurst%20before.jpg" alt="">
 4 Thomson Street, Darlinghurst (before)
<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/2018/10/2/darlinghurt%20after.jpg" alt="">
 4 Thomson Street, Darlinghurst (after)
In the inner city, some of the easiest ways to add value would be to utilise rear lane access for parking or add an attic level bedroom or en-suite. Wide terraces or detached dwellings (where available) are preferred. Given that these areas are quite expensive, a typical buy-in price point could be something similar to<a href="https://www.realestate.com.au/sold/property-terrace-nsw-darlinghurst-127936406" target="_blank"> 43 Craigend Street, Darlinghurst </a>(pictured below)<a href="https://www.realestate.com.au/sold/property-terrace-nsw-darlinghurst-127936406" target="_blank"> </a>which sold for $1.85 million in May 2018.
<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/2018/10/2/43%20craigend%20st%201.jpg" alt="">
This is an original terrace in close proximity to a busy road. Many areas of inner city Sydney are heritage conservation precincts, meaning that the façade is not able to be altered and most additions are required to be unobtrusive.
Some of the suburban community facilities and infrastructure helping drive construction in these established areas include the light rail construction in the CBD/Surry Hills, gentrification of Kings Cross and surrounding areas and proximity to the CBD which generally facilitates good work and family life balance.
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Inner Sydney renovations on the rise: HTW

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Sydney accounted for 32% of all resales at a profit nationally over the June 2018 quarter.
Sydney accounted for 11.2% of the total value of resale losses, according to the latest CoreLogic Pain and Gain report. 
The report noted that, throughout the second quarter of 2018, the total value of resales for a profit in Sydney was $5.023 billion.
The total value of resales at a loss was $52.7 million.
<img src="https://www.urban.com.au/images/2018/9/18/CL%20PG%20SYD%201.JPG" alt="">
Hunters Hill, Mosman and Strathfiled all recorded no resales at a loss over the quarter while Canterbury, Auburn and Hurstville had the highest proportion of resales at a loss throughout the city.
With dwelling values in Sydney declining, the instances of resales at a loss has edged higher; a trend that is likely to continue as prices trend lower.
<a href="https://www.propertyobserver.com.au/images/2018/9/18/CL%20PG%20SYD%202.JPG" target="_blank">Click here to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/9/18/CL%20PG%20SYD%202.JPG" alt="">
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Every Hunters Hill and Strathfield resale achieved profit in June quarter: CoreLogic

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Macquarie Bank has finalised negotiations with the NSW Government for air rights above a new Metro station at Martin Place, clearing the way for the bank’s ambitious commercial proposal over the station to proceed. The proposal was previously approved as part of the Department of Premier &amp; Cabinet’s unsolicited proposals process but required the negotiation of these air rights.

The agreement marks a new era in the delivery of mass transit infrastructure in Sydney, demonstrating a form of value capture. It also puts on show the focus of Sydney Metro Corporation in strategically matching new metro stations with the leveraging of land use potential. This is part of a broader trend in Sydney and other global cities; London’s Crossrail project - a suburban-rail, rapid-transit line which alleviates constraints on the Tube Metro network - employs a similar commercial arrangement to construct some of its new city centre stations, most prominently at the financial district at Canary Wharf. 

Macquarie Bank has agreed to pay $355 million for the Martin Place station air rights and will proceed to build the metro station and two commercial towers, in partnership with Lend Lease.

<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/buildings_cut_thru_-_metro_martin_place.png" rel="gallery-all" title="A section diagram of the proposed integrated development. "><img alt="" class="image-article-full-width-580px" height="466" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/buildings_cut_thru_-_metro_martin_place.png?itok=R_I01QPf" title="A section diagram of the proposed integrated development. " width="580"></a>

<figcaption>A section of the proposed integrated development showing the complexity of the site. Source: Metro Martin Place</figcaption></figure>The distinctive northern tower design responds to the challenges of protecting sunlight access to Martin Place - in fact, both towers are fully compliant with City of Sydney solar access planes which protect sunlight access to Martin Place and Hyde Park.

The north tower is approximately 170 metres tall (38 floors) with almost 80,000 sqm of premium office space. The smaller south tower, amended to provide commercially viable floor plates of 1,100 sqm, offers 39,000 sqm of premium grade office space over 28 floors. 

As a result of the deal, the Government will foot little of the $378 million cost to build the new station and its associated connecting passages.

The new station is being compared in style to New York’s WTC and Hong Kong’s IFC stations; the station will become part of a new retail and social precinct that is envisioned to be an embedded, seamless part of its locality.

<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/atrium_look_down_-_source_macquarie_bank.png" rel="gallery-all" title=" Macquarie Bank"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/atrium_look_down_-_source_macquarie_bank.png?itok=nMrSXMJ5" title=" Macquarie Bank" width="580"></a>

<figcaption>The sunlight-filled atrium below the north tower, providing access to the station concourses and platforms. Source: Macquarie Bank</figcaption></figure> ​​​​​The scale of the precinct is impressive, and it should be noted the level of attention afforded to the quality, legibility and experience of the pedestrian environments, both in the underground concourses and at street level. 

Grimshaw in partnership with Johnson Pilton Walker and Tzannes, are the architects responsible for the design of the station and its commercial and social precincts. The firms have a long experience in crafting quality human-scale environments.

The station connects to the T4 Bondi Junction &amp; Illawarra suburban station; it is likely to also connect to a new CBD station as part of the mooted West Metro line. Collectively, this anticipates a northern CBD mass transit interchange, relieving overcrowding at Central, Town Hall, and Wynyard stations.

<blockquote>
Acknowledging the special role Martin Place Metro Station will play in Sydney’s transport system, and the nature and exceptional prominence of its location, Macquarie Chief Executive Nicholas Moore affirms; “We recognise that we have been entrusted by the NSW Government to deliver this once-in-a-generation opportunity for the community. We are committed to delivering a new transport-led destination that is customer-centred, inclusive and comparable with the world’s great integrated urban precincts.” He goes on to say, “As a long-time resident [of Martin Place], Macquarie Bank understands and respects the historic, cultural and civic significance [of Martin Place].”
</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/mmp-east.jpg" rel="gallery-all" title=" Macquarie Bank"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/mmp-east.jpg?itok=_BrPU7cy" title=" Macquarie Bank" width="580"></a>

<figcaption>The station will feature active street frontages, elevated terraces, and an architectural style in keeping with the heritage and grandeur of Martin Place. Source: Macquarie Bank</figcaption></figure>The development reinforces the role of the northern CBD as the financial hub of Australia and as a globally connected business precinct. The towers feature modern side-cores with large, uninterrupted floorplates ensuring flexible office design that can adapt to future needs. The proposed buildings have been awarded 6-star environmental ratings from the Green Building Council of Australia and will house workspace for 8500 people. Macquarie Bank will consolidate its operations in the northern tower, which will be connected directly with its existing heritage headquarters at 50 Martin Place. 

In the broader strategic context, this is just one - albeit prominent - example of similar projects in the pipeline; new metro stations at Victoria Cross (North Sydney), Pitt St (Town Hall), Waterloo, and Crows Nest are undergoing similar work to both embed them in their locality and leverage the transit capacity and connectivity they bring.

2500 new jobs will be created during construction and the office towers, social and retail precinct, and the station are expected to be completed shortly before Metro City &amp; South-West opens in 2024.

<a href="https://www.youtube.com/watch?v=boiuhoRrxkA">Fly-through of Martin Place Metro Station Integrated Development</a>
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ModernBradfield

Martin Place Metro Station's Integrated Development Clears Final Hurdle

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GUEST OBSERVATION
The question of which city is the most liveable is an annual hot topic. Competition is fierce, especially between Melbourne and Sydney. We have previously highlighted the limitations of The Economist Intelligence Unit Global Liveability Index. In this article we analyse the differences between Sydney and Melbourne using clearly defined liveability indicators based on objective spatial data.
Liveability is an important concept with implications for health and well-being that go beyond promotional material or the prestige of being named number one. As part of our Creating Liveable Cities project, in July we released a scorecard looking at the liveability of Sydney. The scorecard for Melbourne comes out today.
For this research, we mapped policies designed to create liveable cities. We found great variation in these policies. Both cities do well on some but not all aspects of liveability.
We also found inequities in the delivery of infrastructure relating to liveability policies in both cities. Some suburbs do better than others, but in both cities suburbs on the urban fringe are less liveable. These areas often have poor access to the basic amenities needed for daily living.
So, let’s take a closer look at the liveability of Melbourne and Sydney.
Public transport access
Melbourne has an ambitious policy for public transport access. This requires 95% of residences to be within a 400-metre walk to a bus stop, 600m to a tram stop, or 800m to a train station. At present, 69% of residences meet this target.
The policy we measured spatially for Sydney is even more stringent. It requires 100% of residences to be close to public transport – within 400m of a bus stop with a service every 30 minutes, or 800m of a train station with a service every 15 minutes. Only 38% of residences and 2% of suburbs meet this target.
To create a consistent comparison between Sydney and Melbourne, we developed a common national liveability indicator that measures access (within 400m) to frequent public transport (a 30-minute service frequency). Results using this indicator were very similar: 36% of residences in Melbourne achieved this, compared to 35% in Sydney.
In both cities, however, inner and more established suburbs have the best public transport access. Many middle and outer suburbs miss out (Figure 1).
<img src="https://images.theconversation.com/files/235325/original/file-20180907-190665-qcajq0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Figure 1: Percentage of residences by suburb within 400m of a public transport stop with a service every 30 minutes. Author provided
Another important liveability indicator measures how people get to work. This is especially important with growing population, increased traffic congestion and longer commuting times. Our research shows cities are healthier, more liveable and sustainable when walking, cycling and public transport are more convenient than driving.
Residents of Sydney are more likely to use public transport (26%) than residents of Melbourne (18%). The proportions who walk or cycle to work in each city are similar (6% Sydney, 5% in Melbourne). Both Melbourne and Sydney are doing well relative to other Australian cities.
By international standards, though, we have a long way to go. For instance, 50% of people (and 63% of MPs!) in Denmark’s capital, Copenhagen, commute daily by bike.
Walkability
Coinciding with good access to public transport are walkable areas, which combine somewhere to walk (to local shops and services), population density (to support the services) and a way to get there (connected road network). Walkable neighbourhoods are the backbone of a liveable city.
Figure 2 shows that in both Sydney and Melbourne inner areas have the highest walkability. This declines dramatically towards the urban fringe. Yet neither city has policies in place to achieve walkable neighbourhoods in the suburbs.
<img src="https://images.theconversation.com/files/235326/original/file-20180907-190662-abpa8b.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Figure 2: Composite walkability indicator* for suburbs within each capital city. Author provided
Walkability is also unlikely to be achieved with population density requirements set at only 15 dwellings per hectare. That’s too low to achieve walkable neighbourhoods.
Higher residential densities ensure there are enough people and the associated demand to support the transport and everyday services that help make cities liveable. Research is now showing that this requires higher densities of at least 25 dwellings per hectare, and even higher around activity centres and transport nodes.
Suburban densities are higher in Sydney, at 19 dwellings per hectare, than in Melbourne, which has only 13 dwellings per hectare.
Better policies create better cities
So to the question: which is the most liveable city? The answer in turn depends on another question: liveable for whom? Both cities have areas performing well on some liveability domains and other areas where more could be done.
The findings of these reports show a need for more ambitious policies, research evidence linking liveability indicators to health and well-being, and investment in infrastructure and spatial planning to improve liveability, health and well-being for all residents of all cities.
Lucy Gunn, Research Fellow, Healthy Liveable Cities Group, Centre for Urban Research, RMIT University, RMIT University; Billie Giles-Corti, Director, Urban Futures Enabling Capability Platform and Director, Healthy Liveable Cities Group, RMIT University; Julianna Rozek, Research Officer, Healthy Liveable Cities Group, Centre for Urban Research, RMIT University, and Melanie Davern, Senior Research Fellow, Healthy Liveable Cities Group, Centre for Urban Research, RMIT University
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/melbourne-or-sydney-this-is-how-our-two-biggest-cities-compare-for-liveability-102247">original article</a>.
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