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

<html><body>
The design team behind what looms as one of Sydney's tallest buildings has provided comment on their joint effort for 505-523 George Street.

Last week the development's proponents, Mirvac and Coombes Property Group, announced that Architectus and ingenhoven architects were successful in topping other participants in a design excellence competition. Now in progress is a 79 storey predominantly residential tower spanning 270 metres.

It has been billed as the highest residential building in Sydney, and also as a "profoundly visible landmark standing for an economical, environmental and socially sustainable, future-oriented development."

Efforts to deliver a signature project onsite reach back to August 2015 when Council and the Central Sydney Planning Committee considered a request to change the height control for the site which is currently home to an Event Cinemas complex.

Top flight architecture firms/partnerships Skidmore, Owings and Merrill + Crone, Wilkinson Eyre, Foster + Partners and fjmt + Bates Smart were beaten out by Architectus and ingenhoven architects during the initial design process. The $1 billion development will now progress to a Stage 2 development application with an eye to final approval.

<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/image142_0.jpg" rel="gallery-all" title="Panoramic views of the George Street tower. Image: Doug and Wolf"><img alt="" class="image-article-full-width-580px" height="301" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image142_0.jpg?itok=1T8zwVlW" title="Panoramic views of the George Street tower. Image: Doug and Wolf" width="580"></a>

<figcaption>Panoramic views of the George Street tower. Image: Doug and Wolf</figcaption></figure><h2>What they say</h2>

<blockquote>
This is a very exciting project for Sydney. It will rejuvenate George Street’s entertainment precinct with new retail, community facilities, potential hotel and high-quality apartments.

The tower will present as a singular elegant form on the skyline of Sydney with the vertical structure emphasizing height and slenderness while the subtle curving façade addresses views in all directions.

We are looking forward to working with the team at Ingenhoven again on another significant Sydney project. Our collaboration on 1 Bligh Street was very successful and we aim to emulate the same quality and success with 505 George Street.
<cite>Ray Brown, Managing Director at Architectus</cite>
</blockquote>

<blockquote>
Now we have combined our expertise once again by designing a tower which will be highly integrated in the existing surroundings and offer a great public domain.

This urban approach is based on the philosophy of a well-connected public and conceives of the tower as being a 'friendly neighbour'. The combination of different uses and the timeless design of the building are integral parts of an environmentally sustainable approach but also expression of a deep understanding of the project goals
<cite>Christoph Ingenhoven, owner and founder of ingenhoven architects</cite>
</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/image140_1.jpg" rel="gallery-all" title="Ground level perspective. Image: Doug and Wolf"><img alt="" class="image-article-full-width-580px" height="418" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image140_1.jpg?itok=mtUJFfvD" title="Ground level perspective. Image: Doug and Wolf" width="580"></a>

<figcaption>Ground level perspective. Image: Doug and Wolf</figcaption></figure>Other aspects of the 65,000 square metre development include multiple retail levels, childcare facilities, a community meeting space and the potential to rehouse Event Cinemas in the podium structure.

ingenhoven architects' supergreen sustainability platform will be rolled out across the design. This includes "awareness of energy and resources, both in the design, construction and operation and in the realization of the building and its use. It includes the primary and secondary energy levels of the materials used, the equipment and building process and the use of resources over the whole lifetime of a building."

505-523 George Street will be a traditional post-tensioned concrete structure with exposed perimeter columns allowing for maximum residential floor space.

The development team has indicated that post a 2019 submission for approval, a construction start is pencilled in for 2020. With a five year build in mind, Mirvac and Coombes Property Group are eyeing residents moving in during 2025.

<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/image143_2.jpg" rel="gallery-all" title="Above all others. Image: Doug and Wolf"><img alt="" class="image-article-full-width-580px" height="286" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image143_2.jpg?itok=LpCdo-br" title="Above all others. Image: Doug and Wolf" width="580"></a>

<figcaption>Above all others. Image: Doug and Wolf</figcaption></figure>
</body></html>

silvermb

Architectus and Ingehoven on Sydney's latest super skyscraper

<html><body>
The Sydney rental market has recorded the highest vacancy rate in at least 13 years according to SQM Research with 19,500 landlords seeking tenants.
Sydney’s rental vacancy rate rose to 2.8% in June with an estimated 19,572 residential rental dwellings sitting vacant and available for rent.
The vacancy rate rose from 2.5% recorded in May and 2% recorded in June 2017.
The 2.8% is the highest rental vacancy rate since at least 2005 when SQM Research commenced record keeping of rental listings. 
Nationally, the residential rental vacancy rate rose to 2.3% in June (from 2.1% recorded in May) with the number of vacancies Australia-wide now sitting at 75,757 properties.
Most cities recorded a rise with Melbourne rising to 1.6%, Brisbane to 3.0%, Canberra to 0.9% and Adelaide rising to 1.5%. Rental vacancies remained steady in Perth (4.1%), Darwin (3.5%) and Hobart (0.7%)
It should be noted that there tends to be a seasonal rise in rental vacancies for the major capital cities during the month of June. However it is SQM’s view that the rise recorded in Sydney goes beyond seasonal factors.  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="12%">
City
</td>
<td valign="bottom" width="13%">
June 2017 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
<td valign="bottom" width="15%">
May 2018 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
<td valign="bottom" width="15%">
June 2018 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Adelaide
</td>
<td valign="bottom" nowrap width="13%">
3,251
</td>
<td valign="bottom" nowrap width="14%">
1.8%
</td>
<td valign="bottom" nowrap width="15%">
2,468
</td>
<td valign="bottom" nowrap width="14%">
1.3%
</td>
<td valign="bottom" nowrap width="15%">
2,726
</td>
<td valign="bottom" nowrap width="14%">
1.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Perth
</td>
<td valign="bottom" nowrap width="13%">
10,638
</td>
<td valign="bottom" nowrap width="14%">
5.4%
</td>
<td valign="bottom" nowrap width="15%">
8,235
</td>
<td valign="bottom" nowrap width="14%">
4.1%
</td>
<td valign="bottom" nowrap width="15%">
8,426
</td>
<td valign="bottom" nowrap width="14%">
4.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Melbourne
</td>
<td valign="bottom" nowrap width="13%">
8,754
</td>
<td valign="bottom" nowrap width="14%">
1.6%
</td>
<td valign="bottom" nowrap width="15%">
7,676
</td>
<td valign="bottom" nowrap width="14%">
1.4%
</td>
<td valign="bottom" nowrap width="15%">
9,035
</td>
<td valign="bottom" nowrap width="14%">
1.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Brisbane
</td>
<td valign="bottom" nowrap width="13%">
11,497
</td>
<td valign="bottom" nowrap width="14%">
3.6%
</td>
<td valign="bottom" nowrap width="15%">
9,331
</td>
<td valign="bottom" nowrap width="14%">
2.9%
</td>
<td valign="bottom" nowrap width="15%">
9,886
</td>
<td valign="bottom" nowrap width="14%">
3.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Canberra
</td>
<td valign="bottom" nowrap width="13%">
731
</td>
<td valign="bottom" nowrap width="14%">
1.2%
</td>
<td valign="bottom" nowrap width="15%">
498
</td>
<td valign="bottom" nowrap width="14%">
0.8%
</td>
<td valign="bottom" nowrap width="15%">
565
</td>
<td valign="bottom" nowrap width="14%">
0.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Sydney
</td>
<td valign="bottom" nowrap width="13%">
13,215
</td>
<td valign="bottom" nowrap width="14%">
2.0%
</td>
<td valign="bottom" nowrap width="15%">
17,164
</td>
<td valign="bottom" nowrap width="14%">
2.5%
</td>
<td valign="bottom" nowrap width="15%">
19,572
</td>
<td valign="bottom" nowrap width="14%">
2.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Darwin
</td>
<td valign="bottom" nowrap width="13%">
961
</td>
<td valign="bottom" nowrap width="14%">
3.3%
</td>
<td valign="bottom" nowrap width="15%">
1,051
</td>
<td valign="bottom" nowrap width="14%">
3.5%
</td>
<td valign="bottom" nowrap width="15%">
1,062
</td>
<td valign="bottom" nowrap width="14%">
3.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Hobart
</td>
<td valign="bottom" nowrap width="13%">
190
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
<td valign="bottom" nowrap width="15%">
211
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
<td valign="bottom" nowrap width="15%">
221
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
National
</td>
<td valign="bottom" nowrap width="13%">
78,314
</td>
<td valign="bottom" nowrap width="14%">
2.5%
</td>
<td valign="bottom" nowrap width="15%">
69,152
</td>
<td valign="bottom" nowrap width="14%">
2.1%
</td>
<td valign="bottom" nowrap width="15%">
75,757
</td>
<td valign="bottom" nowrap width="14%">
2.3%
</td>
</tr>
</tbody></table>
 
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
SQM considers this to be a superior methodology compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised.  
Capital city asking rents for houses fell over the month to 12 July 2018 by 0.4% to $549 a week. Unit asking rents remain steady at $444 a week. Over the year, asking house rents rose just 0.5%, while unit asking rents rose modestly by 0.9%.
While the asking rent for a three-bedroom house in Sydney remains the highest in the nation at $709 a week, rents fell 0.8% over the month to 12 July, with the upward trend in the vacancy rate easing pricing pressures. Asking unit rents in Sydney now stand at $522 a week, down by 0.2% over the month. Sydney was the only city to record falls in rents for the year with rents for houses down by 2.2% and units down by 0.1%
Canberra also recorded monthly falls in rents for both houses (0.1%) and units (2.5%) however rents are well up by 13% over the past 12 months for houses. Melbourne’s house rents fell by 1.3% for the month but unit rents rose marginally by 0.1%.
Brisbane, Darwin, Adelaide and Perth house rents continue to register small increases in the past 30 days.  However, rents for units in Adelaide fell by 0.2%, making it the cheapest capital city to rent a unit at $299.60 a week.  Adelaide is also the cheapest capital city to rent a house, with the asking rent sitting at $383.10 a week, although there is an increase of 0.9% for June.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="6" valign="top" width="100%">
SQM Research Weekly Rents Index
</td>
</tr>
<tr>
<td colspan="2" width="39%">
Week ending - 12 Jul 2018
</td>
<td width="10%">
Rent
</td>
<td width="16%">
Change on previous week
</td>
<td width="16%">
Rolling month % change
</td>
<td width="17%">
12 month % change
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Canberra
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
630.7
</td>
<td valign="top" nowrap width="16%">
-2.7  
</td>
<td valign="top" nowrap width="16%">
-0.1%  
</td>
<td valign="top" nowrap width="17%">
13.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
439.6
</td>
<td valign="top" nowrap width="16%">
-1.6  
</td>
<td valign="top" nowrap width="16%">
-2.5%  
</td>
<td valign="top" nowrap width="17%">
6.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Sydney
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
709.2
</td>
<td valign="top" nowrap width="16%">
-0.2  
</td>
<td valign="top" nowrap width="16%">
-0.8%  
</td>
<td valign="top" nowrap width="17%">
-2.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
521.7
</td>
<td valign="top" nowrap width="16%">
-0.7  
</td>
<td valign="top" nowrap width="16%">
-0.2%  
</td>
<td valign="top" nowrap width="17%">
-0.1%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Darwin
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
540.9
</td>
<td valign="top" nowrap width="16%">
0.1  
</td>
<td valign="top" nowrap width="16%">
0.4%  
</td>
<td valign="top" nowrap width="17%">
5.8%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
405.0
</td>
<td valign="top" nowrap width="16%">
0.0  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
1.9%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Brisbane
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
451.9
</td>
<td valign="top" nowrap width="16%">
0.1  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
2.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
370.4
</td>
<td valign="top" nowrap width="16%">
0.6  
</td>
<td valign="top" nowrap width="16%">
0.3%  
</td>
<td valign="top" nowrap width="17%">
0.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Adelaide
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
383.1
</td>
<td valign="top" nowrap width="16%">
0.9  
</td>
<td valign="top" nowrap width="16%">
0.9%  
</td>
<td valign="top" nowrap width="17%">
2.1%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
299.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-0.2%  
</td>
<td valign="top" nowrap width="17%">
3.5%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Hobart
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
398.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-0.3%  
</td>
<td valign="top" nowrap width="17%">
8.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
347.3
</td>
<td valign="top" nowrap width="16%">
-0.3  
</td>
<td valign="top" nowrap width="16%">
-0.9%  
</td>
<td valign="top" nowrap width="17%">
10.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Melbourne
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
522.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-1.3%  
</td>
<td valign="top" nowrap width="17%">
2.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
411.8
</td>
<td valign="top" nowrap width="16%">
0.2  
</td>
<td valign="top" nowrap width="16%">
0.1%  
</td>
<td valign="top" nowrap width="17%">
2.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Perth
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
424.5
</td>
<td valign="top" nowrap width="16%">
0.5  
</td>
<td valign="top" nowrap width="16%">
0.8%  
</td>
<td valign="top" nowrap width="17%">
0.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
326.1
</td>
<td valign="top" nowrap width="16%">
0.9  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
-0.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
National
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
432.0
</td>
<td valign="top" nowrap width="16%">
-1.0  
</td>
<td valign="top" nowrap width="16%">
-0.5%  
</td>
<td valign="top" nowrap width="17%">
1.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
355.0
</td>
<td valign="top" nowrap width="16%">
1.0  
</td>
<td valign="top" nowrap width="16%">
-1.1%  
</td>
<td valign="top" nowrap width="17%">
1.7%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Cap City Average
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
549.0
</td>
<td valign="top" nowrap width="16%">
1.0  
</td>
<td valign="top" nowrap width="16%">
-0.4%  
</td>
<td valign="top" nowrap width="17%">
0.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
444.0
</td>
<td valign="top" nowrap width="16%">
0.0
</td>
<td valign="top" nowrap width="16%">
0.0%
</td>
<td valign="top" nowrap width="17%">
0.9%  
</td>
</tr>
</tbody></table>
 
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

SQM calculates highest ever number of Sydney landlords without tenants

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
A number of Sydney developers are leading the move towards urban greening.
The Urban Taskforce recently had a forum on ‘Urban Greening’ and this has led to a publication with examples of greenery being incorporated into buildings.
The Central Park project by Frasers Property and Sekisui House is an excellent example of green landscape being incorporated into the façade of a 33 storey apartment building in a manner that responds to the seasons. 
As well as the integration of landscape and building the site includes a significant amount of public parkland and water features.
The One Sydney Park project by HPG also incorporates landscape gardens into the building façade in a design that blends with the adjacent Sydney Park.
 Also at an early design stage is the Crown Group’s apartment building in Alexandria which steps down to the street level with terraces that will be landscaped with mature trees.
There is clearly a move in the development industry to softening urban buildings through parklands, greenery on balconies and roof gardens.
The suburban ideal of a landscaped garden city is beginning to be reinterpreted at the scale of apartment buildings.
<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/2018/6/1/urban%20ideas%20.jpg" alt="">The trend also reflects the NSW Government’s approach to encouraging more urban landscape through the ‘Greener Places’ publication and the allocation of $290 million to a green infrastructure program that includes an aim to lift Sydney’s tree canopy from 16% to 40%.
Projects like the ‘Gardens of Auburn’ by developers LFD propose to incorporate 4,300 square metres of gardens and parklands and the DaniasGroup have generated a ‘Green Heart’ in a creative industry proposal in Marrickville. 
All of these proposals are contained in the Urban Ideas issue on ‘Urban Greening’ (seen here). 
The Urban Taskforce is supportive of the NSW Government approach to increasing greenery as Sydney increases its density and we will continue to profile good examples.
CHRIS JOHNSON is the Urban Taskforce CEO.
</div>
</div>
</div></body></html>

Development industry leading in Greening Cities

<html><body>
The Sydney rental market has slowed, according to research from the Real Estate Institute of New South Wales.
REINSW Deputy President Brett Hunter said the June 2018 REINSW Vacancy Rate Survey saw a general increase in vacancy rates across the Sydney metropolitan area.
“The Sydney vacancy rate rose 0.3 percentage points with rises of 0.4 percentage points in both Inner and Middle Sydney at 3 per cent and 2.8 per cent respectively, while Outer Sydney remained steady at 2.4 per cent. 
“Agents reported fewer enquiries coming through due to the approach of the winter season,” Mr Hunter said. 
 “An oversupply of apartments is also affecting Middle Sydney.” 
In the Hunter, vacancy rates rose 0.3 percentage points to 1.9 per cent, led by Newcastle which rebounded 0.5 percentage points to 2.4 per cent. The Illawarra gained 0.1 percentage points to 2.5 per cent with Wollongong increasing 0.2 percentage points to 2.3 per cent.  Across regional areas, the Central Coast fell 0.1 percentage points at 2 per cent, Northern Rivers added 0.2 percentage points to 1.5 per cent and New England gained 0.4 percentage points to 2.3 per cent. 
 
</body></html>

Sydney rental market slows as oversupply of apartments affecting Middle Sydney: REINSW

<html><body>
New housing codes for greenfield and low-rise medium-density homes came into effect on July 6th and the NSW Department of Planning and Environment says delivery of new homes in greenfields and in-fill scenarios will be sped up, saving buyers money in the process.

The low-rise medium-density housing code 'seeks to encourage well-designed, dual occupancies, manor houses and terraces to be built under a fast track complying development approval' according to the NSW Department of Planning and Environment.

The code only applies in areas where councils have permitted medium density housing to be built under the local environment plans.

[smartcode_project:default project_id=31240]

Councils were eligible to apply for the low-rise medium-density housing code implementation date to be deferred to 1 July 2019 - many metropolitan councils have gone down this path - but many councils now see the new code in effect.

The City of North Sydney is one of the councils where the new housing code is now in effect.  See below for a zone map from the council's 2013 LEP, the low-rise medium-density housing code will apply to land zoned with medium density residential (R3).

<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/nsyd_lep_zones_medium1.png" rel="gallery-all" title="City of North Sydney zoning map. North Sydney LEP 2013"><img alt="" class="image-article-full-width-580px" height="408" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/nsyd_lep_zones_medium1.png?itok=8aiqEkHu" title="City of North Sydney zoning map. North Sydney LEP 2013" width="580"></a>

<figcaption>City of North Sydney zoning map. <a href="https://www.legislation.nsw.gov.au/maps/77528bd5-a269-eb1f-d07f-94f13e8ab4f9/5950_COM_LZN_002A_005_20130607.pdf">North Sydney LEP 2013</a></figcaption></figure>A spokesperson from the NSW Department of Planning and Environment said the new code will facilitate faster housing supply.

<blockquote>
Low-rise medium density housing is the missing part of the NSW housing stock between traditional free-standing homes and strata-titled apartments.

Medium density housing promotes greater housing choice, diversity and affordability.

It allows for seniors to downsize as well as being a more affordable option for young people.
<cite>Alison Frame, Deputy Secretary of Policy and Strategy</cite>
</blockquote>

Two new design guides have been released for <a href="http://www.planning.nsw.gov.au/~/media/Files/DPE/Manuals-and-guides/Low-rise-medium-density-design-guide-for-complying-development-2017-07-05.ashx">complying development</a> and another for <a href="http://www.planning.nsw.gov.au/~/media/Files/DPE/Manuals-and-guides/Medium-density-design-guide-for-development-applications-2017-07-05.ashx">development applicants</a> that will aid in planning assessment.

Like the low-rise medium-density housing code, the greenfield housing code is set to allow complying developments which feature one and two storey homes, renovations and extensions to be carried out under a fast-track approval.  The department also says the new code will ensure new residential suburbs are leafier and more environmentally friendly.

<blockquote>
A simplified and tailored Greenfield Housing Code will promote faster housing approvals in new release areas, saving time and money.

The complying development standards, such as building heights, setbacks and landscaping, have been tailored to ensure homes are designed to protect the privacy and amenity of neighbourhoods.
<cite>Alison Frame</cite>
</blockquote>

The Sydney Metropolitan councils which have deferred implementation of the low-rise medium-density housing code to July 1 2019 are listed below.

<ul>
<li>Bayside</li>
	<li>Burwood</li>
	<li>Camden</li>
	<li>Campbelltown</li>
	<li>Canada Bay</li>
	<li>Canterbury-Bankstown</li>
	<li>Cumberland</li>
	<li>Georges River</li>
	<li>Hawkesbury</li>
	<li>Hornsby</li>
	<li>Hunter's Hill</li>
	<li>Inner West</li>
	<li>Lane Cove</li>
	<li>Liverpool</li>
	<li>Mosman</li>
	<li>Northern Beaches</li>
	<li>Parramatta</li>
	<li>Penrith</li>
	<li>Randwick</li>
	<li>Ryde</li>
	<li>Strathfield</li>
	<li>Sutherland Shire</li>
	<li>Sydney</li>
	<li>The Hills Shire</li>
	<li>Willoughby</li>
	<li>Woollahra</li>
</ul>
Developer lobby group Urban Taskforce Australia said its baffling that so many councils were allowed to shirk their responsibility to promote a diverse range of housing types.

<blockquote>
This is a sad day for future generations looking to live an affordable lifestyle in a diverse range of housing types.

All the ‘Missing Middle’ Low-Rise Medium Density Housing Code did was provide a faster approval process for medium density housing types where councils already permitted this type of development in their local government area.

To see this over reaction and backlash against two storey town houses and terrace houses by councils demonstrates just how out of touch they are with young families and other demographic groups looking for somewhere to live.
<cite>Chris Johnson, CEO Urban Taskforce Australia</cite>
</blockquote>

Community group Your Northern Beaches worries about a lack of future consultation on development applications.

<blockquote>
If you thought our area had problems with boarding houses popping up in inappropriate areas, wait until you see the State Govt's new "low rise medium density housing code" which will come into effect 6 July, 2018!

The new Low Rise Medium Density Housing code will apply where Councils already allow this type of development under the local LEP. Everywhere that currently permits dual occupancy will have this new law apply.

So whats the catch then? Well, even though this has a great opportunity to create a more diverse housing stock for our area, this will remove protections that a Council DA process currently supplies and hand straight to a Private Certifier.

You will not be consulted. 
<a href="https://www.yournorthernbeaches.com.au/single-post/2018/05/16/WARNING---NEW-LOW-RISE-MEDIUM-DENSITY-HOUSING-CODE-coming-our-way"><cite>Your Northern Beaches</cite></a>
</blockquote>
</body></html>

Alastair Taylor

New Low-rise medium density housing code comes into effect in NSW

<html><body>
City of Sydney will assess in earnest 311-317 Sussex Street which is a freshly lodged application that intends to bring a substantial slab of boarding house accommodation to Sydney's CBD.

Guansheng Australia Pty Ltd is backing the student housing hub for the site in light of Sydney's pressing requirement for additional student accommodation. 83 boarding house rooms within the part 15 storey and part 16 storey tower will sit below 9 private apartments, including a 4 bedroom dwelling.

Costed at $48 million, the building at the western edge of the Sydney CBD also aims to meet standards for the design and construction of new generation boarding houses. FJMT conceived the tower which is incorporated behind the existing non-heritage listed warehouse facade.

<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/image23_12.jpg" rel="gallery-all" title="Street level view. Planning image: FJMT"><img alt="" class="image-article-full-width-580px" height="875" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image23_12.jpg?itok=4WhVAv6d" title="Street level view. Planning image: FJMT" width="580"></a>

<figcaption>Street level view. Planning image: FJMT</figcaption></figure>Externally the tower expresses "a simple palette of materials has been selected which reflects the robust character of Sussex Street. Each element of the proposal is expressed with a specific materiality to provide a variation in scale and a diversity in character.

The fine grain of the brick warehouses is reflected in the new masonry screen to Sussex Street - blades are angled to provide privacy to the Apartments whilst providing access to local views of the streetscape."

According to FJMT 107 beds spread over 5 separate apartment types are included, ranging from studios to shared apartments with a common living area. The design is also flush with communal facilities such as lounges, a study/work hub, games zone, breakout spaces and a common laundry facility.

Boarding room internal living spaces begin from 12 square metres and increase to 22 square metres, with common living areas on each level. Typical apartments follow, with a limited number spanning two levels.

<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/image5_18.jpg" rel="gallery-all" title="A selection of current Sydney student accommodation projects"><img alt="" class="image-article-full-width-580px" height="487" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image5_18.jpg?itok=EWMOLyXG" title="A selection of current Sydney student accommodation projects" width="580"></a>

<figcaption>A selection of current Sydney student accommodation projects</figcaption></figure>Sydney, like Brisbane and Melbourne is enjoying a boom in student accommodation projects.

Most recently Singapore's Wee Hur linked with Intergen Property Group to expand their portfolio across Australia which, including a recent Redfern site acquisition that is expected to see more than 500 beds included. Wee Hur's Australian footprint also covers Melbourne, Adelaide and Brisbane and Perth.

Seen above is a quartet of current student accommodation projects representative of the surge of the type across Sydney. The University’s Regiment Redevelopment Project is seeing a new building rise on the corner of City Road and Darlington Road, whilst the Wee Hur Redfern development will also target the University of Sydney and the University of Technology Sydney.

Further afield Rothelowman has designed a new student accommodation project in Macquarie Park for the purposes of serving the nearby Macquarie University.
</body></html>

Guansheng Australia pushes student accommodation into Sydney's CBD

<html><body>
Sydney's dwelling values dropped 4.5 percent over the last financial year, according to CoreLogic's June Home Value Index. 
The declines were topped by Darwin, which saw a 7.7 percent decrease.
The rest of New South Wales continued to show strength, with dwelling values increasing 3.2 percent. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/2/annual-value-change.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/2018/7/2/annual-value-change.jpg" alt="">
 
The hardest hit areas in Sydney have been Ryde, the Inner West and the Baulkham Hills areas, which have all seen their values decline over seven percent.
Nine of the ten worst performing capital city SA4 regions came from the surrounding areas of Sydney.
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/2/regional-declines.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/2018/7/2/regional-declines.jpg" alt="">
</body></html>

jrobinson-rf4aSBido9

Sydney values drop 4.5 percent over financial year: CoreLogic

<html><body>
The last two weeks have yielded planning news on four separate hotel developments across Sydney, and that trend continues with two additional hotel developments on the agenda.

Sydney's general upswing in hotel accommodation is seeing thousands of new rooms either proposed or at construction over a multitude of sites. Looking to join the fray are Cromwell Property Group and established hotel developer Pro-invest Group.

Cromwell's hotel play encapsulates their existing twin tower office complex at Chatswood's 475-501 Victoria Avenue. The 6,030 square metre site includes a net lettable area of 24, 970 square metres over the two buildings, along with substantial underutilised spaces to major frontages.

It's these areas which Cromwell are looking to exploit with a $75 million build expected to deliver a new high-rise hotel and additional office space on the diagonally opposite corner.

<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/image108.jpg" rel="gallery-all" title="Site aerial and intended ground plan. Images: Philip Chun / Nettletontribe"><img alt="" class="image-article-full-width-580px" height="224" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image108.jpg?itok=ujjGDrha" title="Site aerial and intended ground plan. Images: Philip Chun / Nettletontribe" width="580"></a>

<figcaption>Site aerial and intended ground plan. Images: Philip Chun / Nettletontribe</figcaption></figure>While the additional office area comes by way of a four level stand-alone building primarily fronting Victoria Avenue, project architect Nettletontribe has also added a 17-storey hotel development fronting Brown Street. 156 hotel rooms are included within the tower.

The 60.9 metre building also includes a variety of amenities such as a restaurant, gym, pool, bar and conference centre. The hotel's inclusion will also spark a major refurbishment and landscaping of the site's ground floor 

Cromwell's intentions to deliver a hotel on the Victoria Avenue site would see an eventual operator pitched into the busy Chatswood hotel sector; Quest, Sebel, Mantra, Meriton and Sikari currently have a presence in the suburb which is little more than 10 kilometres from Sydney's CBD.

Meanwhile, Mascot's 2-8 Sarah Street is drawing closer to development at the hand of Pro-invest Group.

<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/image106_1.jpg" rel="gallery-all" title=" View Robey Street and O'Riordian Street. Planning image: SJB"><img alt="" class="image-article-full-width-580px" height="350" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image106_1.jpg?itok=WGEhin_Y" title=" View Robey Street and O'Riordian Street. Planning image: SJB" width="580"></a>

<figcaption>View Robey Street and O'Riordian Street. Planning image: SJB</figcaption></figure>Already with a healthy backlog of hotel developments across Australia and New Zealand, the investment firm has taken the Mascot site back to planning with a redesign in place to accommodate operator Holiday Inn Express. SJB is responsible for the project's design.

The latest submitted plans seek an increase in hotel room numbers, expanding to 178, plus external facade changes which provide the development with a lighter, brighter exterior. Initial delivery timelines for the development had a completion date targeting the last quarter of 2019.

622 guests can be housed within the proposed hotel at any given time, further boosting the already strong short stay accommodation precinct adjacent to Sydney Airport. 

Owing to the demand in Mascot for hotel accommodation, Sydney Airport's owners are considering <a href="https://www.afr.com/business/sydney-airport-eyes-more-hotel-developments-after-mid2017-mantra-opening-20170217-gufgtp">creating a portfolio of hotels</a> on airport land, whilst developer Savelle earlier this year <a href="/news/savelle-supersize-their-mascot-mixed-use-development">adjusted its Mascot mixed-use development</a> to include 187 dedicated hotel rooms and suites.

<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/image107_1.jpg" rel="gallery-all" title="Earlier site design for comparison's sake. Image: Pro-invest Group"><img alt="" class="image-article-full-width-580px" height="321" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image107_1.jpg?itok=Lf9Qr_fu" title="Earlier site design for comparison's sake. Image: Pro-invest Group" width="580"></a>

<figcaption>Earlier site design for comparison's sake. Image: Pro-invest Group</figcaption></figure>
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Cromwell and Pro-invest refine their Sydney hotel intentions

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Sydney-based developer PAYCE Consolidated is pushing to realiase a greater number of apartments within their expansive Melrose Park renewal project.

City of Parramatta has released planning details on PAYCE Consolidated's second stage of the Melrose Park development which the developer describes as "the new Australian dream, a welcoming neighbourhood with a sense of place."

Amended plans submitted call for 27 apartments to be added to the already approved concept plan, 42 additional car parking spaces and an augmented building form. The second stage is expected to cost in excess of $76 million to build.

The sprawling site is addressed 657-661 Victoria Road and 4-6 Wharf Road. It fell under the control of Payce Consolidated and project partner Sekisui House Australia during 2016, when a $160 million transaction for the 4.5 hectare site was executed with fellow developer Aqualand.

<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/image98_0.jpg" rel="gallery-all" title="Melrose Park Stage 2. Image: PAYCE Consolidated"><img alt="" class="image-article-full-width-580px" height="490" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image98_0.jpg?itok=NKz0VZEX" title="Melrose Park Stage 2. Image: PAYCE Consolidated" width="580"></a>

<figcaption>Melrose Park Stage 2. Image: PAYCE Consolidated</figcaption></figure>The revised Stage 2 plans which landed at planning during June see Allen Jack+Cottier Architects charged with the project's design. A U-shaped building on an island site within the larger development will accommodate 234 apartments.

The living mix sees 20 studio, 71 single, 130 double and 13 triple bedroom apartments in play.

A large communal open space is central to the apartment block, as are rooftop terraces which account for approximately a third of all roof space. 3 basement levels are expected to accommodate 281 car parking spaces.

The former Aqualand site has been segregated into superlot development plots, with Stage 2 noted as being superlot AD. It is set back from Victoria Road and Wharf Road, with another stage dubbed superlot AC to straddle both major frontages. 

<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/image99_2.jpg" rel="gallery-all" title="Stage 2 siting within a wider context. Planning image: AJ+C"><img alt="" class="image-article-full-width-580px" height="360" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image99_2.jpg?itok=pwO7RXQb" title="Stage 2 siting within a wider context. Planning image: AJ+C" width="580"></a>

<figcaption>Stage 2 siting within a wider context. Planning image: AJ+C</figcaption></figure>The rejigging of stage 2 is but one portion of the overall Melrose Park precinct controlled by PAYCE Consolidated; it stands to become one of Australia's larger stand-alone urban renewal developments, spanning approximately 30 hectares.

The targeted apartment output for the project sits at approximately 5,000, with 1,500 new jobs also expected. Additionally, a host of communal inclusions are expected within Melrose Park, such as public parks, an amphitheatre and a childcare centre.

Marketing for the initial stage of the precinct has begun in earnest, with Melrose Park's development timeline stretched out to beyond a decade.

<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/image100_0.jpg" rel="gallery-all" title="What could be for Melrose Park. Image: PAYCE Consolidated"><img alt="" class="image-article-full-width-580px" height="340" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image100_0.jpg?itok=KqIvbQ7D" title="What could be for Melrose Park. Image: PAYCE Consolidated" width="580"></a>

<figcaption>What could be for Melrose Park. Image: PAYCE Consolidated</figcaption></figure>
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PAYCE pushes for more apartments in Melrose Park

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PAG, the Hong Kong investment management firm has put its half stake in Sydney’s sixth-largest ­office tower, 60 Margaret Street, up for sale.
It includes the MetCentre at the foot of the building.
It has ING ­Direct as a major tenant.
The retail centre is anchored by a street-level Woolworths supermarket and Virgin Active along with 75 specialty stores within the 6419sq m retail centre.
The entire building value is estimated at more than $800 million, according to The Australian.
PAG’s listing comes as Sydney’s office property boom hits new highs, with ISPT completing a deal to buy a half-stake in Sydney landmark Westpac Place in a deal valuing that tower at more than $1.7 billion.
The Australian reported the Westpac Place deal helped reset pricing metrics for Sydney towers as it showed a yield of about 4.5 per cent.
PAG bought its 60 Margaret Street stake in 2015 from industry superannuation fund MTAA Super for just over $300 million.  
<div class="cq-article-content-paras section">
Mirvac Group, which owns the other half, had waived its pre-emptive right over the stake. Mirvac Group moved out in 2016 to its 200 George Street project close by. 
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The latest off-market offering is being handled by Ian Hetherington, Ben Azar and Tim Grossman of Savills.
The A-grade building, which consists of 36 office levels and three levels of shops, with ­direct access to Wynyard railway station.
The tower spans 40,985 sqm.
<a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502349942" target="_blank">There are leasing spaces available</a> through Savills which notes Wynyard hub is undergoing one of the largest transformations the city has ever seen; its availability through Savills agents Christina Malcolm and Chris Rowe.  Level 9: 1,410 sqm Low rise whole floor offers impressive cityscape and Wynyard park views with good natural light. Refurbishment of the whole floor now completed.  Level 15: ~380sqm  Tenancy offers direct lift exposure, South/East aspect, impressive city views and natural light.  Level 16: 583sqm  Refurbished part floor opportunity with North/East city views and good natural light. Level 36: 596.4sqm Top floor suite offers exceptional South/West city views, direct lift exposure and to be refurbished to a high standard. 
 
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