Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Sydney

soliver-smf6LQXgW9

Australian capital city dwelling prices fell for the tenth month in a row: Shane Oliver

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Last week's announcement of the <a href="/news/victorian-government-unveils-suburban-rail-loop-election-proposal">$50 billion, 90-kilometre long Suburban Rail Loop</a> by the Victorian State Government, has generated a flurry of opinion and counter-opinion.

As a Sydneysider, I thought I’d offer my view from outside your Melbourne bubble.

A key question is: What does the Suburban Rail Loop signal about the future of Melbourne, assuming it is built over the next 30 years?

Despite the obvious pre-election timing, this is an uncannily forward-looking plan with a range of city-shaping implications.

Firstly, there is a strong connection to existing planning strategy in that it reinforces current efforts to focus housing, jobs and additional quality of life opportunities around prominent middle-ring centres.

The idea is, of course, that this provides more ‘work and play’ options within range of more people all over the metro area. It also gives more shape to Melbourne’s relatively flat, low-density suburban sprawl. Youch.

With or without the Suburban Rail Loop, you’re already on this path: the NEICs (National Employment and Innovation Centres) and <a href="/news/top-20-melbourne-suburbs-with-the-largest-development-pipeline">fully stocked apartment supply</a> around suburban centres attest to this.

Basically, it looks like your Great Big City Centre - the hub of the Melbourne metro area - is getting meatier middle-ring satellites with a broader range of activities, jobs and housing - the spokes of this big hub. This is a fairly classic urban shape - a big centre orbited by suburban nodes which balance the centre’s mass, connected to it by a radial mass transit system.

Here steps into this picture the Suburban Rail Loop, cutting an arc across these radial lines and stringing together these newly-boosted suburban centres. By connecting these ‘spokes’, the rail loop forms the rim of the wheel and so better distributes passenger loads across the rail system, reducing CBD transfers and enabling cross-town trips.

With the Suburban Rail Loop, Melburnians can orbit their Great Big City Centre using mass transit, passing through a series of walkable and built up suburban nodes.

It forms a metropolitan transit grid - a metropolitan-scale ‘metro’ of sorts... About that ‘metro’: 

<h2>METRO RAIL, COMMUTER RAIL &amp; THE BUILT ENVIRONMENT</h2>

Metros rely on an interwoven network of lines to enable point to point journeys.

In contrast, Melbourne’s rail system resembles a traditional commuter rail system; its lines are arranged radially around the Great Big City Centre, shuttling large loads of people in and out.

Although Melbourne does have some large-ish suburban nodes on these radial lines, such as Box Hill, South Yarra, Caulfield, Dandenong and Footscray, it largely follows this pattern.

If you live along a line that suburban centre is on, that’s fine, but for all other journeys, the only realistic option is to drive or be driven.

<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/melbourne-rail-network-with-srl-web-1_-_by_philip_mallis.png" rel="gallery-all" title=" maps.philipmallis.com "><img alt="" class="image-article-full-width-580px" height="300" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/melbourne-rail-network-with-srl-web-1_-_by_philip_mallis.png?itok=Xc7aLLKI" title=" maps.philipmallis.com " width="580"></a>

<figcaption>This diagram by Philip Mallis shows the effect of the Suburban Rail Loop on Melbourne's radial train system. Source: maps.philipmallis.com </figcaption></figure>On top of this, post-war car-oriented growth means many suburban centres aren’t even on a train line. Chadstone, Doncaster and Monash University in Clayton spring to mind.

The Suburban Rail Loop then breaks with Melbourne’s traditional metropolitan form.

<h2>Another thing about metros - they need a compatible urban environment.</h2>

Metros are too expensive to string through low-density environments.

Largely, they need to collect enough people on foot and deposit them at points across the network, again to destinations reachable on foot.

Melbourne’s Great Big City Centre is well-suited to walking with many destinations and an amenable environment, but most of the rest of the metro area requires road-dependent collection and distribution.

A built up, walkable urban environment is compatible with, and justifies the cost and capacity of, high-frequency rail service, but is incompatible with car-dependent transport.

<h2>Why is this?</h2>

Well, roads have a low capacity. They fall over when they are asked to carry lots of people to the same place at the same time.

They require a spread out urban environment to cater to dispersed trips. Think about the scale of ramps, carparks, and feeder roads required to serve your typical Westfield shopping centre, or the ramps and arterial roads to support a motorway. Contrast this to how many people cram into stairwells at Flinders St Station to access the platforms. Then, imagine if those people were all in cars with one or two people in them - you can barely fit a single car in one of these stairwells. People on foot, by contrast, are extremely space-efficient.

Roads are flexible, excelling at carrying distributed point to point trips, but are highly space inefficient with a low inbuilt capacity. 

A car-dependent environment must necessarily be spread out or else it overwhelms the roads that support it.

<blockquote>
The urban environment is shaped by transport, and transport shapes the urban environment. Simples.
</blockquote>

The Suburban Rail Loop, therefore, applies pressure on the places it serves to be more focused, with a range of activities and housing within walking distance, to justify its cost and capacity.

This signals a shift to a more 'Apartments.com.au' - at least a more urban ‘middle Melbourne’ complementing its Big Centre. Might this even put the brakes on your ever-spreading suburban footprint?

Looking to the future, perhaps <a href="/guides/weekly-podcast-episode-28-gogets-justin-passaportis-and-joshua-brydges">driverless cars</a> at each end of a person’s cross-town transit journey will vastly extend the catchment of these nodes.

<h2>SOME CAUTIONARY LESSONS FROM SYDNEY</h2>

From a Sydney point of view, there’s one last note I’d like to make:

By pre-emptively striking to secure a more Apartments.com.au, especially in the middle-ring, your city has more control and power over the resulting built environment once this direction matures.

Rail performs best when it is positioned at the heart or direct edge of a centre, plugged into its walkable streets, while arterial roads should skirt around centres at a respectful distance with link roads striking into edge-of-centre parking (much like a suburban shopping mall).

Sydney hasn’t managed this distinction very well.

<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/img_00511782.jpg" rel="gallery-all" title=" Posted with Permission from an Anonymous Source"><img alt="" class="image-article-full-width-580px" height="580" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/img_00511782.jpg?itok=aPjVFxzt" title=" Posted with Permission from an Anonymous Source" width="580"></a>

<figcaption>Strathfield in the middle ring of Sydney. Poorly managing densification results in poor outcomes like this. Source: Posted with Permission from an anonymous source.</figcaption></figure>A large part of Sydney’s middle-ring looks like this - a haphazard mess of roads, density and traffic - especially outside the posh bits of the city. 

We started densifying around suburban centres decades ago, but the process has been unstructured, haphazard and often vision-less.

<blockquote>
Dense places must be walkable and have regularly-used services set into this environment. Otherwise, people will opt to drive, and with so many cars hitting the road, road network quickly become overwhelmed. Then, you have the undesirable situation where particulate matter from constant traffic enters the lungs of the people that live within its catchment. It’s not a good combo. 
</blockquote>

This has happened in many parts of Sydney, especially outside the posh areas - reinforcing another Sydney specialty - spatial inequality - and it provides a cautionary tale of what not to do.

Your city, on the other hand, has a positive vision that, coupled with good urban design, might hopefully avoid your northern neighbour’s pitfalls.

Melbourne, with Metro 1 (and hopefully Metro 2) allowing very frequent radial train service, plus a frequent Suburban Rail Loop, will have the necessary infrastructure to support enriched clusters of activity and housing, knitted into a metropolitan transit grid.

The Suburban Rail Loop is ambitious but full of potential.

Well done to you Melbourne, you are now entering a higher orbit.
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ModernBradfield

Does the Suburban Rail Loop Signal a More 'Urban.com.au'? 

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EXPERT OBSERVER
Since the market peaked in July 2017, dwelling values in Sydney have fallen by 5.4%. Melbourne’s housing market peaked a little later than Sydney’s in November 2017 and have declined by 2.9% since their peak.
In this week’s blog, we take a look at how recent periods of value decline in Sydney and Melbourne have played out both across the city as a whole and within the individual SA4 regions. The recent period of decline that will be focused on for Sydney are: post 2003, GFC, 2010 declines and the recent downturn. For Melbourne, the focus will be on the GFC period, the 2010 declines and the current market downturn.
<h5>Sydney post - 2003</h5>
Following the rapid growth in dwelling values at the turn of the century in Sydney the market started to fall in early 2004. From the market peak in December 2003, values declined by -8.2% in total to January 2006. Of course, across the individual SA4 regions of the city declines varied substantially as did the length of time the declines occurred over.  
<img src="https://www.corelogic.com.au/sites/default/files/2018-08/1.1.jpeg" alt="CoreLogic Decline in Sydney SA4 Dwelling Values Post 2003" width="1430" height="686">
  The South West (-16.4%) and Central Coast (-14.2%) recorded the largest declines in values during the post-2003 housing market downturn in Sydney.  The Northern Beaches (-5.9%) and North Sydney and Hornsby (-7.5%), two of the more expensive areas of the city, recorded the most moderate declines over the period. The length of decline also varied dramatically with regions such as: Central Coast, Blacktown, Inner South West, Outer South West, Outer West and Blue Mountains, Parramatta and South West seeing elongated periods of decline. Conversely, values fell for less than a year in: Eastern Suburbs, Northern Beaches and Ryde.
<h5>Sydney - GFC</h5>
The housing downturn in Sydney during the GFC was a very different experience to the post-2003 downturn. Whereas post-2003 it was the more affordable areas which saw the largest value falls and declines were moderate for the more expensive markets, during the GFC it was premium housing areas that recorded the greatest declines. Unlike the previous downturn, it was fairly short-lived with most regions recording value decline for only 12 months, if not less.
<img src="https://www.corelogic.com.au/sites/default/files/2018-08/1.2.jpeg" alt="CoreLogic Decline in Sydney SA4 Dwelling Value During GFC" width="1516" height="708">
  The areas in which values recorded the greatest falls over the downturn were the most expensive areas of the city: Eastern Suburbs (-14.0%), Northern Beaches as well as North Sydney and Hornsby (both -10.8%). Although these declines were comparatively large, each of these regions recorded falls for 15 months at the most. The most moderate declines during this downturn occurred in: South West (-2.7%) and Inner South West (-2.9%) with the regions recording values falls for nine months and seven months respectively.
<h5>Melbourne - GFC</h5>
During the housing market downturn in the GFC, dwelling values in Melbourne fell by -9.4% in the space of 12 months. Like the Sydney experience the greatest declines tended to occur across higher valued housing markets while the falls were relatively more moderate across the more affordable regions of the city.
<img src="https://www.corelogic.com.au/sites/default/files/2018-08/1.3_0.jpeg" alt="CoreLogic Decline in Melbourne SA4 Dwelling Values During GFC" width="1456" height="736">
  During the downturn, the Inner East (-15.9%) and Inner South (-15.5%) regions recorded the greatest falls.  Even though these falls were substantial they occurred over just 12 months in the Inner East and 11 months in the Inner South. The North West (-2.4%) and West (-3.0%) regions of the city recorded the most moderate falls over the period with the declines taking place over five months and eight months respectively.
<h5>Sydney – 2010 downturn</h5>
The GFC decline in values was staved off by aggressive interest rate cuts and housing market stimulus, once interest rates began to rise and the stimulus was removed, Sydney dwelling values started to fall. Ultimately values declined by a cumulative -3.7% between September 2010 and February 2012.
<img src="https://www.corelogic.com.au/sites/default/files/2018-08/1.4.jpeg" alt="CoreLogic Decline in Sydney SA4 Dwelling Values During 2010 Downturn" width="1504" height="724">
  During the 2010 downturn it was once again some of the most expensive areas of the city which recorded the largest value falls: Eastern Suburbs (-11.1%) and Northern Beaches (-7.7%) while the most moderate falls occurred in more affordable housing markets: South West (-0.9%) and Outer West and Blue Mountains (-1.0%). Values in the Eastern Suburbs and Northern Beaches declined for 20 months while in South West and Outer West and Blue Mountains, values fell for only six months and 11 months respectively.
<h5>Melbourne – 2010 downturn</h5>
As housing market stimulus was wound out of the market in 2010, values in Melbourne fell by -8.4% between November 2010 and February 2012. Like the GFC downturn, the value falls tended to be much greater for the higher value areas of the city.
<img src="https://www.corelogic.com.au/sites/default/files/2018-08/1.5.jpeg" alt="CoreLogic Decline in Melbourne SA4 Dwelling Values During 2010 Downturn" width="1454" height="714">
  The greatest declines throughout this downturn were recorded in the Inner South (-13.1%) and the Inner East (-12.0%) with values falling in both of these regions for 28 months. Value declines were the most moderate in the West (-7.4%) and Outer East (-7.8%) regions with values declining for a total of 16 months and 19 months respectively.
<h5>Sydney – current downturn</h5>
Sydney dwelling values peaked in July 2017 and over the 12 months to July 2018 they have so far fallen by -5.4%. Unlike previous downturns the areas with the largest falls have been neither the most affordable nor the most expensive areas. Furthermore, values are still rising on the Central Coast.
<img src="https://www.corelogic.com.au/sites/default/files/2018-08/1.6.jpeg" alt="CoreLogic Decline in Sydney SA4 Dwelling Values During Current Downturn" width="1488" height="736">
  Since the market peak, Baulkham Hills and Hawkesbury (-10.2%) and Inner West (-9.1%) have recorded the greatest value declines. As mentioned, values continue to rise in Central Coast while the South West has also recorded a comparatively moderate fall of -2.1%. Outside of the post-2003 downturn, the South West has consistently recorded relatively minor falls during recent downturn periods.
<h5>Melbourne – current downturn</h5>
Since having peaked in November 2017, dwelling values in Melbourne have fallen by -2.9% to July 2018. Over recent months the rate of decline has been gathering pace and it is the higher value areas of the city in which the declines have been greatest so far.
<img src="https://www.corelogic.com.au/sites/default/files/2018-08/1.7.jpeg" alt="CoreLogic Decline in Melbourne SA4 Dwelling Values during Current Downturn" width="1438" height="760">
In the current downturn, the largest falls to-date have been recorded in: Inner East (-6.3%) and Inner South (-4.5%), these two regions also recorded the largest value falls over the previous two Melbourne housing market downturns. The most moderate value falls during the current downturn have occurred in Mornington Peninsula and West, both of which recorded falls of -0.9%.
While the current housing market downturn has been relatively short so far, there are some lessons that can be learned from previous downturns. The housing market downturns in 2008 and 2010-12 were largely driven by weaker economic conditions that impacted the banking and financial services sectors; consequently it was the premium end of the housing market where values weakened the most due to less demand for high priced homes and more stock in the higher price ranges entering the market. 
The current downturn in Sydney and Melbourne has once again seen the banking and financial services sector impacted, with heightened credit regulation and fallout from the Royal Commission. Weaker conditions across this sector are likely contributing to weaker conditions across the premium housing sector. This trend is being compounded by the surge in first home buyer activity which is supporting housing demand across the more affordable housing price points.  
Downturns in the Sydney market tend to be much more varied in terms of market segments leading the falls and that appears to be the case again now. In Melbourne, each of the downturns have seen the largest falls across the most expensive regions of the city and that appears to be the case again in the current downturn. The great unknown is how long this housing market downturn runs for but it certainly feels as if it has longer to run.
Cameron Kusher is a research analyst at <a href="https://www.corelogic.com.au/news/how-does-housing-decline-compare-previous-downturns-sydney-and-melbourne?utm_source=Newsletter&amp;utm_medium=EmailArticle&amp;utm_campaign=AUSPropertyPulse" target="_blank">CoreLogic</a>.
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2018 housing declines hit Melbourne's inner east and Sydney's Hills district hardest: CoreLogic

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Homeware giant, Victoria’s Basement, has moved to sell three of its five Sydney stores.
It seeks to redirect capital towards business expansion across Australia and grow its online presence.
The Sydney-based retailer has appointed CBRE to market for sale its outlets in Castle Hill and Auburn, while Hugh Anderson and Brad Sutton of Sutton Anderson are marketing its Artarmon store.
The properties, which are all being offered for sale with opportunity for short to medium term leaseback to Victoria’s Basement, are expected to attract strong investment interest from local and overseas investors or owner occupiers.
Victoria’s Basement director, Sam Kalanderian said it had owned and occupied some of these iconic locations for over 15 years with very successful trading.
"We are now seeking to capitalise on these valuable properties and their development potential to expand the business across the country into every state, with the purchase of new, strategically located retail and distribution centres,” Kalanderian said.
Located in the heart of Castle Hill’s large format retail precinct, the 5 Victoria Avenue property comprises a substantial freestanding building spanning close to 8,000 square metres on an underdeveloped 17,200 square metre site.   
The Auburn property, located at 99-101 Parramatta Road, consists of over 4,000 square metre building on a 4,330 square metre parcel of land.
Surrounded by major retailers, the property benefits from exposure to one of Sydney’s busiest intersections - Parramatta and Silverwater roads - and offers future development potential, as earmarked by the Greater Sydney Commission.   
The third property, located at 89-93 Reserve Road, Artarmon, comprises approximately 2,818 square metre over three floors.
It is understood the sale of Artarmon, Castle Hill and Auburn will fetch about $100 million.
This follows the group's plans to develop its store on Euston Road in Alexandria in Sydney's inner city into a 27-unit build-to-rent apartment block.
The plans were lodged with the City of Sydney council last month.
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j.ballantyne1990-6AQqhLzZaK

Homewares retailer Victoria's Basement lists three Sydney assets

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Darling Harbour’s rejuvenation continues apace with this week’s news that the luxury hotel brand Ritz-Carlton will return to Sydney for the first time in 18 years. The six-star hotel will offer 220 rooms situated within the top half of a distinctive 61-storey tower to be built at the north-eastern corner of The Star in Pyrmont.

<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/ritz_carlton_hotel_the_star_2_920x900_-_by_fjmt.jpg" rel="gallery-all" title="The mid-tower Sky Lobby for Ritz Carlton hotel guests will offer a spectacular vantage point over Sydney Harbour and CBD. Image: FJMT"><img alt="" class="image-article-full-width-580px" height="272" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/ritz_carlton_hotel_the_star_2_920x900_-_by_fjmt.jpg?itok=lgyX9d3p" title="The mid-tower Sky Lobby for Ritz Carlton hotel guests will offer a spectacular vantage point over Sydney Harbour and CBD. Image: FJMT" width="580"></a>

<figcaption>The mid-tower Sky Lobby for Ritz-Carlton hotel guests will offer a spectacular vantage point over Sydney Harbour and CBD. Image: FJMT</figcaption></figure>The hotel is poised to capture a slice of surging overseas visitor numbers, as well as taking advantage of its prominent harbour-side position, and proximity to both the Sydney CBD and Darling Harbour Convention, Exhibition and entertainment venues.

The tower design adopts a memorable form as it rises to its full height of 231 metres, branching into two distinct, interlocked volumes as it subtly twists to maximise and ensure the best harbour and CBD vistas.

<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/star-render-1-1_-_by_scharp.jpg" rel="gallery-all" title="The tower's distinctive form from Pyrmont Bay Park. Image: Scharp 3D Visualisation &amp; Property Marketing"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/star-render-1-1_-_by_scharp.jpg?itok=TIG3lKlt" title="The tower's distinctive form from Pyrmont Bay Park. Image: Scharp 3D Visualisation &amp; Property Marketing" width="580"></a>

<figcaption>The tower's distinctive form from Pyrmont Bay Park. Image: Scharp 3D Visualisation &amp; Property Marketing</figcaption></figure>Given its relative isolation, its distinctive form will create a landmark architectural statement on Sydney’s skyline , providing a bookmark to Barangaroo’s towers on the opposite shore, framing the entrance to Darling Harbour from ferries and other vessels on the harbour.

Beneath the hotel, the bottom half of the tower will acommodate around 200 apartments as well as a five-storey neighbourhood centre. This will contain a social enterprise space, reading room, function space, collaboration hub, and rooftop terrace - useful additions to community infrastructure in the area.

As part of the development, the Pirrama Rd podium of The Star will be refurbished, adding a rooftop pool and terrace, public restaurants, two gyms, and a spa &amp; wellness centre.

Fifteen food outlets will cluster around the path connecting the hotel tower to the rooftop social and leisure space, forming a ‘restaurant avenue’. No additional gambling floor space is included in the development.

<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/star-render-3-1_-_by_scharp.jpg" rel="gallery-all" title="Rooftop social and leisure space. Image: Scharp 3D Visualisation &amp; Property Marketing"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/star-render-3-1_-_by_scharp.jpg?itok=_dTwMvmG" title="Rooftop social and leisure space. Image: Scharp 3D Visualisation &amp; Property Marketing" width="580"></a>

<figcaption>Rooftop social and leisure space. Image: Scharp 3D Visualisation &amp; Property Marketing</figcaption></figure>The project comes amid a spate of new developments entering the pipeline to cater to the rapidly growing visitor market. In the last year alone, visitor numbers in Sydney have increased by 5% to 14 million, 4.3 million of which were from overseas.

According to Destination NSW, visitors to the state have collectively injected $16.85 billion into the NSW economy. 

The $500 million project is a joint venture between the Star Entertainment Group and Hong Kong-based Chow Tai Fook and Far East Consortium and will generate 1000 jobs during construction and a further 500 jobs once operational.

The design team is led by architects FJMT who are also responsible for a number of prominent projects in the area, including the new Sofitel at the International Convention Centre.

The new hotel and its dramatic tower will add a new layer to the Darling Harbour precinct, consolidating the area as a premier social and business destination.

Far East Consortium is also introducing the Ritz-Carlton brand in Perth and Melbourne via developments at Elizabeth Quay and West Side Place. Both projects are currently under construction with Probuild at the helm, and architecture by Cottee Parker.
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Ritz-Carlton Tower at The Star adds to Darling Harbour's rejuvenation

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Sydney is not alone in seeing the end of the property boom with mild house price declines now a reality for some vendors.
The end of the ever-upward price cycle is actually happening across the world, from London to Beijing to Sydney.
After a five year boom that saw the median price up 75 percent, Sydney has belatedly joined others among the world's most sought-after cities where prices are coming back at bit.
Each city has their own set of circumstances, though there are some uniting threads too.
Many have had tax changes expressly introduced to dampen demand.
Many cities have prices somewhat out of kilter with housing affordability and the current trend of household income stagnation.
There are also tougher lending standards - and in our case a banking royal commission - that have combined to undermine the prevailing market.
Sydney doesn't have the troubling Brexit issue which has contributed to price falls in the UK capital.
But like Sydney, London sales volumes are down and more properties are being offered for sale as sentiment turns, especially within central London's best districts where prices are down 17.6 percent since the 2014 peak.
Prime London prices have been weakening since the 2014 stamp duty hike, according to research by Savills, with London's housing slowdown now spreading to other prime markets in the commuter belt. At the same time London developers have record numbers of pricey apartments, likely creating a glut.
In New York, the same trend with home sales in New York's most expensive boroughs falling now for three quarters, as inventory rises and sales volumes sits 17 percent lower.
Canadian home price growth has slowed, though its prices are still above their 2017 peak. Canada's frenzied housing market has dissipated in the wake of tightened mortgage lending, a foreign buyers tax, and four interest rate hikes by the Bank of Canada since last July.
Bloomberg noted recently there had been more than 30 restrictions, from buying thresholds to mortgage curbs, that have helped send sales to a historical low across China. New homes in China are now being offered for less than existing homes by some developers who faced heavy financing constraints.
While Hong Kong home prices are still rising, economists claim a cocktail of concerns ranging from the downbeat stock market, to trade war fears, and rising interest rates would soon take their toll on sentiment.
It seems it doesn't matter where you are around the world there's economic uncertainty, financial fragility and housing risk. There's never an all-encompassing sweet spot for everybody.
As the world's wealthy have been increasingly buying homes on multiple continents, legally or or sometimes illegally, the combined downturn could pose an interesting threat to some markets, according to the International Monetary Fund.
Australian home loan lenders are currently not prepared to lend to prior levels, which has dampened buyer enthusiasm.
Ofcourse Sydney is not one market, but rather hundreds across the suburbs, so there will still be bullish prices achieved this spring.
While the bleak headlines cast a pall over Sydney, for many Sydneysiders, it will be still be getting on with their lives.
This article was first published by the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Sydney is like other international cities with end of ever rising property boom

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Today's Atlassian CEO Scott Farquhar and NSW Premier Gladys Berejiklian announced the NSW Government will partner with the software company to create a major new technology and innovation precinct in the Central-Eveleigh Corridor running through inner southern Sydney.

The Premier’s announcement refocuses attention on development plans for government-owned railway land between Central and Eveleigh, and marks a strategic play to cement Sydney as Australia’s tech capital.  

In recent times technology firms have faced hurdles in securing new or additional space in Sydney. Atlassian’s 2015 bid to expand lost out to property developers whilst Google also shied away from plans to use the Rozelle Power Station as a new work space.

The announcement comes off the back of last year’s report by the Committee for Sydney and KPMG titled <a href="https://home.kpmg.com/au/en/home/insights/2017/08/scaling-fintech-opportunity-sydney-australia">Scaling the fintech opportunity for Sydney and Australia</a> which noted the number of FinTech firms in Australia had scaled from 100 in 2014 to more than 500 today, with 10,000 people directly employed.

Almost two thirds of those firms are based in Sydney.

This is a competitive strength in Sydney’s digital innovation economy and today’s announcement marks a step forward in the government’s commitment to back the growth of this vibrant economic sector. Essentially, government and industry together will deliver a new precinct as a focal point for the various tech ecosystems in Sydney and the wider Australian sector.

Up to 10,000 jobs will be located in the precinct and together with co-located firms, coworking spaces, and the Sydney University-UTS education cluster, there is potential for a globally significant tech cluster.

As outgoing Committee for Sydney CEO Tim Williams noted at the release of last year’s report, “Modern knowledge economies thrive on agglomeration, collaborative diversity and convergence and the innovation they collectively promote.”

<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/image176.jpg" rel="gallery-all" title="Indication of the urban environment in the area earmarked for transformation"><img alt="" class="image-article-full-width-580px" height="278" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image176.jpg?itok=lIUi41ej" title="Indication of the urban environment in the area earmarked for transformation" width="580"></a>

<figcaption>Indication of the urban environment in the area earmarked for transformation</figcaption></figure>Furthermore, the urban environment in this corridor is earmarked to be transformed. The railway corridor around Eveleigh, Redfern and Central essentially a neglected and piecemeal space which constitutes a forgettable entrance to the southern CBD.

The precinct is closely located to other large-scale urban renewal precincts at Waterloo, Green Square and Zetland. It’s possible this government-tech industry partnership will build off innovative renewal precedents in Sydney and overseas like the Toronto Smart City co-developed by Google and Sidewalk Labs.

Overall this is a promising announcement about the reinvigoration of a neglected part of Sydney’s urban environment and a potentially visionary step forward for our city’s economic vibrancy and competitiveness.

Jobs for NSW chair David Thodey will lead a design and development taskforce to guide the direction of the new precinct.
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Sydney's Central to Eveleigh set to become Australia’s Silicon Valley

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EXPERT OBSERVATION 
The Household Income and Labour Dynamics in Australia (HILDA) report indicates a rise in housing stress so now is not the time to slow down housing production.
The rise in housing stress in Sydney from around 10% in 2005-08 to 13% in 2013-16 needs a response from the housing market.
Clearly the price of housing has risen dramatically in the last decade and this has created problems for the lowest 40% of income earners who spend over 30% of their income on housing.
The best way for the housing industry to help is to ensure there are lots of new homes built at a range of affordability levels.
Housing supply needs to be encouraged by councils and the state government but a number of recent decisions by the NSW Government in a pre-election environment will have the effect of reducing supply dramatically.
The government has allowed 50 NSW councils to defer a terrace house code for a year, stopped planning proposals in Ryde for two years and pulled back from Planned Precincts on the Sydenham to Bankstown rail corridor.
The result of these back-downs from previous policy will be to slow down housing supply and therefore push home prices up again.
The Urban Taskforce is keen to assist with the provision of more affordable housing in line with the direction taken by the NSW Government agency Landcom.
The Landcom approach uses the Affordable Rental Housing SEPP to provide a percentage of affordable homes for a 10-year period. With a reasonable uplift in floor space we believe that thousands of affordable rental apartments could be provided across Sydney.
The supply of affordable homes must be an economically viable component of the overall housing supply system in NSW.
Sydney’s housing problems can only be solved in two ways.
The first is for the NSW Government to fund affordable and social housing and the second is for the private sector to be given incentives to provide affordable housing. 
Sydney’s future housing supply will need a combination of government and private sector commitment to ensure a diverse range of housing is produced.
Chris Johnson is chief of the Urban Taskforce.
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High housing stress in Sydney needs more housing supply: Chris Johnson 

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Six months into expanding the Apartments.com.au Project Database to take on a national focus, <a href="/news/melbourne-and-sydney-urban-national-project-database-observations">from time to time</a> we've been taking a step back and assessing the numbers.

Our Sydney data is not as mature as our Melbourne data but there have been many updates and changes since we last looked at some of the trends happening in the Emerald City.

Only one of the top 10 suburbs listed below is located within inner-city Sydney, all other suburbs in our ranked list of suburbs with the most dwellings in the development pipeline are further out - much further out in some cases.

While other <a href="/new-apartments/sydney-nsw">inner Sydney suburbs</a> are present on the Apartments.com.au database - such as Mascot at #13, Zetland at #18, and postcode 2000 itself ranked outside the top 20 at #21 - the vast bulk of <a href="https://www.spacer.com.au/blog/what-are-the-types-of-apartmentshouses-you-can-find-in-inner-sydney" target="_blank">Sydney's pipeline</a> of new apartments are in middle and outer reaches of the metropolitan area.

The correlation between new large-scale public transport investment and medium and higher density development pipeline is particularly strong among the top suburbs.  <a href="/new-apartments/parramatta-nsw">Parramatta</a>, the top Sydney suburb at this stage, for instance, will be the beneficiary of a new light rail line which already has a second stage planning underway.

It will likely also receive a station on the mooted Western Sydney Metro. Schofields and Rouse Hill are outer metropolitan areas that will see the first phase of the Sydney Metro Northwest open next year and Macquarie Park, while it has had a rail service for over 10 years, it will also see service improvements when the existing Epping-Chatswood line is converted for Sydney Metro's use.

The second phase of the Sydney Metro - the City and Southwest project - apart from building a new North Sydney, Harbour and CBD tunnel, will re-use the existing Bankstown line via Sydenham - all stations between those two points are presented on the Apartments.com.au database but Bankstown is the only one to make the top 20 list at this stage.

Major rail stations or rail junctions feature in the top 20 quite prominently - apart from the #1 rank Parramatta, Liverpool, Lidcombe, Epping and Penrith are flying that flag and Wentworth Point, a former industrial peninsula adjacent to Sydney Olympic Park ranks at #4.  Wentworth Point is likely to benefit from improved connectivity and stage 2 of the Parramatta Light Rail project.

The number of dwellings below are for all projects on the Apartments.com.au project database across all four main statuses - Planning Assessment, Approved, Registration &amp; Sales and Under Construction.

Click on a suburb name to view a summary of the development pipeline for each region.

<table border="1" cellpadding="1" cellspacing="1" style="width:100%;">
<thead><tr>
<th scope="col">Rank</th>
			<th scope="col">Suburb</th>
			<th scope="col">Number of Dwellings</th>
		</tr></thead>
<tbody>
<tr>
<td>1</td>
			<td><a href="/developments/parramatta-nsw">Parramatta</a></td>
			<td>4838</td>
		</tr>
<tr>
<td>2</td>
			<td><a href="/developments/schofields-nsw-2762">Schofields</a></td>
			<td>3490</td>
		</tr>
<tr>
<td>3</td>
			<td><a href="/developments/merrylands-nsw-2160">Merrylands</a></td>
			<td>3290</td>
		</tr>
<tr>
<td>4</td>
			<td><a href="/developments/wentworth-point-nsw-2127">Wentworth Point</a></td>
			<td>3192</td>
		</tr>
<tr>
<td>5</td>
			<td><a href="/developments/rouse-hill-nsw-2155">Rouse Hill</a></td>
			<td>3111</td>
		</tr>
<tr>
<td>6</td>
			<td><a href="/developments/macquarie-park-nsw-2113">Macquarie Park</a></td>
			<td>3044</td>
		</tr>
<tr>
<td>7</td>
			<td><a href="/developments/liverpool-nsw-2170">Liverpool</a></td>
			<td>2922</td>
		</tr>
<tr>
<td>8</td>
			<td><a href="/developments/epping-nsw-2121">Epping</a></td>
			<td>2770</td>
		</tr>
<tr>
<td>9</td>
			<td><a href="/developments/lidcombe-nsw-2141">Lidcombe</a></td>
			<td>2634</td>
		</tr>
<tr>
<td>10</td>
			<td><a href="/developments/erskineville-nsw-2043">Erskineville</a></td>
			<td>2301</td>
		</tr>
<tr>
<td>11</td>
			<td><a href="/developments/box-hill-nsw-2765">Box Hill</a></td>
			<td>2215</td>
		</tr>
<tr>
<td>12</td>
			<td><a href="/developments/leppington-nsw-2179">Leppington</a></td>
			<td>2157</td>
		</tr>
<tr>
<td>13</td>
			<td><a href="/developments/mascot-nsw-2020">Mascot</a></td>
			<td>1975</td>
		</tr>
<tr>
<td>14</td>
			<td><a href="/developments/auburn-nsw-2144">Auburn</a></td>
			<td>1972</td>
		</tr>
<tr>
<td>15</td>
			<td><a href="/developments/bankstown-nsw-2200">Bankstown</a></td>
			<td>1947</td>
		</tr>
<tr>
<td>16</td>
			<td><a href="/developments/baulkham-hills-nsw-2153">Baulkham Hills</a></td>
			<td>1913</td>
		</tr>
<tr>
<td>17</td>
			<td><a href="/developments/st-leonards-nsw-2065">St Leonards</a></td>
			<td>1894</td>
		</tr>
<tr>
<td>18</td>
			<td><a href="/developments/zetland-nsw-2017">Zetland</a></td>
			<td>1847</td>
		</tr>
<tr>
<td>19</td>
			<td><a href="/developments/kellyville-nsw-2155">Kellyville</a></td>
			<td>1842</td>
		</tr>
<tr>
<td>20</td>
			<td><a href="/developments/penrith-nsw-2750">Penrith</a></td>
			<td>1772</td>
		</tr>
</tbody>
</table>
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Alastair Taylor

Top 20 Sydney suburbs with the largest development pipeline

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House prices in Sydney fell 1.4% over the June quarter, dipping to a median of $1,144,217.
This is the second consecutive quarter of house price declines for the capital city, with the median dropping 4.5% year-on-year.
The move marks the largest annual fall in house prices since 2008, according to Domain.
Sydney unit prices fell to $737,080 over the June quarter, reflecting a 0.5% quarterly decline and a 3.5% annual drop.
The annual fall is the steepest drop in unit prices since 2006, Domain data analyst, Dr Nicola Powell said. “Rising stock levels have continued to impact house and unit prices in Sydney as supply outweighs demand. With more choice and less urgency, there are fewer active buyers in the market, and those who are in the market are being restricted by tightening lending standards and the availability of credit. “Indicators including lower clearance rates, heavier vendor discounting and days on market tracking higher all point towards a slowing market favouring buyers. House and unit prices are now back to values seen at the end of 2016. “However these softening conditions are not uncommon when the median is high comparative to income and particularly when lenders are scrutinising loan-to-income ratios and overall living expenses, which is the case in Sydney,” said Powell.
<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/2018/7/25/domain%20sydney.jpg" alt="">
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