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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Sydney

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Renters are on the front foot as Sydney’s residential vacancy rate hits levels last seen in September 2012, according to research from the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the April 2018 REINSW Vacancy Rate Survey saw availability rise 0.3 percentage points to 2.5% for the Sydney metropolitan area.  
“The tide is beginning to turn for tenants with vacancy rates at five-year lows,” Pilkington said.  
“There appears to be a saturation of supply, and agents are noting that previously high rents are becoming increasingly difficult to obtain. 
“In Outer Sydney vacancy rates rose 0.2 percentage points to 2.5%, while Inner Sydney and Middle Sydney both increased 0.3 percentage points to 2.2% and 2.9% respectively. 
In the Hunter, vacancy rates rose 0.1 percentage points to 1.7%, with Newcastle up 0.4 percentage points at 2.2%. The Illawarra added 0.3 percentage points to 2.1% with Wollongong increasing 0.1 percentage points to 2.3%. 
Across regional areas, Albury slipped 0.4 percentage points at 1.8%, the Central Coast fell 0.2 percentage points at 2.0%, while the Northern Rivers added 0.1 percentage points to 1.3% and the South Coast gained 0.5 percentage points to 3.0%.
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j.ballantyne1990-6AQqhLzZaK

Sydney vacancy rates turn in favour of tenants: REINSW

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Sydney's city and inner south was its best auction performer last week, while the northern suburbs continue to carry the majority of the strong clearance rates.
The eastern suburbs has picked itself from its floor in recent weeks, securing nearer 70 percent.
Parramatta could only clear 34 percent of its weekend stock. Sydney's inner west was also a poor performer after clearing over 70 percent last week. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/28/sub-regions.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/2018/5/28/sub-regions.jpg" alt="">
In Hornsby a three bedroom home sold for $1.13 million at auction, despite the agents heading in with a guide of $1.2 million (top).
Andrew Searle and Sandra Hughes-Searle from Belle Property sold the home at<a href="https://www.realestate.com.au/sold/property-house-nsw-hornsby-128265262" target="_blank"> 44 Old Berowra Road</a>.
In nearby Epping, Ross Mere, a four bedroom home on 820 sqm, fetched $1,955,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/29/Epping%20.jpg" alt="">
The home at<a href="https://www.realestate.com.au/sold/property-house-nsw-epping-128263094"> </a><a href="https://www.realestate.com.au/sold/property-house-nsw-epping-128263094" target="_blank">86 Essex Street</a> was sold by Catherine Murphy from The Agency- North.
It last traded for $820,000 in 2004.
 
 
 
 
 
 
 
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jonathanchancellor-7SQnKwU6yx

North of the bridge continues to keep Sydney above water 

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In seeking to develop the future workplace for its staff, Investa, Australia's largest office manager, engaged project management company Montlaur to manage the delivery of its new head office in Sydney based on a design prepared by HASSELL.

Located at 420 George Street, the subsequent transformation, completed in January 2018, has seen Investa consolidate its workforce onto a single level and shift to an agile workplace.

This has provided the staff with greater flexibility and variety in their working environment, as they are encouraged to move around the office and work where they are most productive. Instead of having just one desk, the team are provided with a variety of desks and workstations in addition to collaborative areas, or quiet zones for individual work.

<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/p1120120_1.jpg" rel="gallery-all" title="Investa's staff are encouraged to work where they are most flexible. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/p1120120_1.jpg?itok=Wv2VwpGr" title="Investa's staff are encouraged to work where they are most flexible. Image: Supplied" width="580"></a>

<figcaption>Investa's staff are encouraged to work where they are most productive. Image: Supplied</figcaption></figure><blockquote>
Over the last five to 10 years, we have seen huge changes in the contemporary workforce. The best organisations view their workplaces as strategic assets to help them compete. Investa recognised early on in the relocation process the opportunity to change the way its workplace was designed, to better align with its culture and support the way its people wanted to work and collaborate.

Before any architect can start designing, we really need to work out what the strategy is around the physical space, the technology and how people work. 

It’s important in this stage of the consultation that we aren’t steering anyone in a particular direction. Our job is to get to know the business and its people and present options soundly based on what they are trying to achieve as an organisation.

- Stuart Munro, Montlaur Change Director 
</blockquote>

Investa's workforce is mobile and technologically connected, spending considerable time out of the office, working between the company’s commercial properties and offices in Sydney, Melbourne and Brisbane.

The company's previous premises didn’t reflect this type of work environment, instead, it provided a traditional desk-and-cubicles layout, inefficiently spread across two levels with the work being performed by teams who were isolated.

HASSELL and a technology consultant, POMT were engaged to design a workplace that reflected best-practice office design and would ensure Investa's staff remained motivated and productive.

The team conducted focus groups, interviews with leadership, an all-staff survey to analyse how the current workplace was performing and a utilisation study to assess how the workspace was being used. The results highlighted numerous opportunities.

The assessment presented the possibilities for activity-based working (ABW) and explored a hybrid option, combining two different styles. Montlaur was then engaged to develop a workplace strategy with Investa that would align its work environment with its business strategy and vision for the future, with a complete transformation roadmap created. 

<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/p1120131.jpg" rel="gallery-all" title="One of the many different areas of Investa's new workplace. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/p1120131.jpg?itok=MWXq4GS8" title="One of the many different areas of Investa's new workplace. Image: Supplied" width="580"></a>

<figcaption>One of the many different areas of Investa's new workplace. Image: Supplied</figcaption></figure>According to Investa, the choice to move to agile working was fundamentally about providing everyone in the team more choice about how they approach their work environment and how it assists them in completing their daily tasks.

As part of the consultation process Montlaur also created a team of ‘change champions’ drawn from all levels of the company, who they collaborated with to create a series of videos and events to help the wider workforce understand why the business had chosen to work in a new way. 

These also highlighted the benefits provided by the central city location adjacent to Pitt Street Mall in the CBD and its proximity to retail, fitness and dining opportunities.

A launch event brought everyone together to learn about the new workplace and highlight how it would better meet the needs of staff, enabling a strong, positive culture to thrive.

<blockquote>
Montlaur were an integral part of our workplace transformation project from both a change management and project management perspective. They ensured our people were fully engaged with on the project and ready to transition to the new way of working. We were very pleased to have them on board.

- Sally Franklin, Group Executive, Real Estate Services and Business Operations, Investa
</blockquote>

For Investa, the entire relocation process was made easier by the fact that Montlaur is one of the few companies to offer change management and project management services under the one umbrella.

<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/p1120252.jpg" rel="gallery-all" title="Investa's new workplace designed by Hassell and managed by Montlaur. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/p1120252.jpg?itok=JLBDE0cs" title="Investa's new workplace designed by Hassell and managed by Montlaur. Image: Supplied" width="580"></a>

<figcaption>Investa's new workplace designed by HASSELL and managed by Montlaur. Image: Supplied</figcaption></figure>
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Laurence Dragomir

Investa's new Sydney office highlights the value of workplace design

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Intentions to create a new World Trade Center on Sydney's western periphery are gaining momentum.

Infrastructure earmarked for the area, prompted by the construction of Western Sydney Airport at Badgerys Creek, will be fast-tracked by the state and federal governments. Adjacent to land reserved for the new airport, Sydney World Trade Center is backed by Aerotropolis Group who have in turn enlisted Woods Bagot for master plan design duties.

Aerotropolis Group has presented the high-profile $8 billion mixed-use proposal to the NSW Department of Premier and Cabinet. Included in their vision is "an international convention and exhibition centre, commercial space for multinational companies, an innovation and incubation centre for start-ups and retail and residential space."

Front and centre among the many buildings expected are four signature towers highlighting the latest ESD initiatives.

<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/image83_4.jpg" rel="gallery-all" title="Ground level perspective. Image: Woods Bagot"><img alt="" class="image-article-full-width-580px" height="357" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image83_4.jpg?itok=NoN9IWZ0" title="Ground level perspective. Image: Woods Bagot" width="580"></a>

<figcaption>Ground level perspective. Image: Woods Bagot</figcaption></figure>Woods Bagot for their part have envisaged the Sydney World Trade Center precinct as a net zero carbon development.

According to the design practice "energy production, use, storage, recycling and sharing between different types of development in the cluster of the towers and low rise mixed use – and the spaces between them – is a key part of the sustainability goal."

Controlling the master plan has allowed Woods Bagot to implement citywide design and livability features. One of the city's intended outcomes is to "achieve connectivity for allied uses across the project, economy and resilience of the development and to promote sustainable living with food, entertainment, commerce, work and housing, all within reach."

<h2>What they say</h2>

<blockquote>
In combination, the new Western Sydney Airport and the realisation of the Greater Sydney Commission's strategy for the Western Parklands City is an extraordinary opportunity to conceive urban development hosting high tech industries synthesised with the unique natural environment of the Nepean river system and Cumberland Parklands for sustainable living.
<cite>Woods Bagot's design director Neil Hill</cite>
</blockquote>

<blockquote>
WTC Sydney is a project that will resolve the structural problem faced by Sydney by bringing balance to our city which is historically tilted to the east.

We are excited about this project, it will create an ecosystem to promote international trade, economic activity and employment generation by connecting Sydney to the 322 cities in 90 countries through the WTC network.

WTC Sydney will ensure a seamless flow of demand from these 322 international cities to Sydney, causing export from NSW to increase significantly.
<cite>Aerotropolis Group Managing Director and CEO Jomon Varghese</cite>
</blockquote>

An Aerotropolis Summit held today will further push the project's various design and economic aspects. The summit is underpinned by research undertaken by PwC which shows that the Sydney World Trade Center would create 43,500 direct jobs annually, whilst injecting $13 billion to the NSW economy.

The city is penned in for a 2026 opening that will coincide with the new Western Sydney Airport opening.

<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/image88_8.jpg" rel="gallery-all" title="Sydney World Trade Center. Image: Woods Bagot"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image88_8.jpg?itok=VIdEGlU5" title="Sydney World Trade Center. Image: Woods Bagot" width="580"></a>

<figcaption>Sydney World Trade Center. Image: Woods Bagot</figcaption></figure>Aerotropolis Group is also active across a number of projects in Leppington, directly south of Western Sydney Airport's future location. The amalgamation of their Leppington interests and Sydney World Trade Center will see a substantial development pipeline in place for the next decade.
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silvermb

Further details emerge for Western Sydney's proposed World Trade Centre

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The pausing of new housing approvals in selected suburbs across Sydney by the NSW Planning Minister Anthony Roberts comes at a pivotal period in the construction boom phase.
Capturing understandable community concerns, Roberts said councils needed “to take a bit of a breath” to be able to play catch up with infrastructure.
But the intervention could reap havoc as property developers seek out alternate projects in less congested suburbs or pack up altogether. 
Sydney’s crane construction count has already recently eased from its late 2017 peak.
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There are currently 346 cranes on the Sydney skyline, down from the 350 last October. Of these some 253 are residential cranes spread nicely across 103 suburbs.
“Every single crane in the sky is more evidence of another home, another school, another hospital, another business in our capital,” NSW Treasurer Dominic Perrottet said.
Epping, Wolli Creek, Parramatta, Burwood, Mascot, Homebush, Lane Cove, Lewisham, Zetland, Leichhardt, Surry Hills sit among the recent top construction localities. 
Currently Sydney has 51 percent of all cranes erected nationally, while Melbourne contributed 23 percent and Brisbane 10 percent, according to the latest edition of the Rider Levett Bucknall Crane index which highlights the vital continuing input of the construction sector within Australia’s economy.
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The current Sydney crane count saw fewer residential cranes, but this was offset as the non-residential sector of offices, hotels and retail projects grew.
The net loss of four cranes within Sydney was the first fall since the commencement of the index in 2012, which signals the emerging downturn in the off the plan apartment construction sites and the construction jobs they create.
Sydney saw 133 residential cranes removed after project completions over the past six months with 88 new additions.
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The CBD and surrounding suburbs have 34 (10 percent) of the installed cranes, the eastern suburbs have 11 (3 percent), the north has 98 (28 percent), the south has 88 (25 percent), the west has 109 (32 percent) and the Wollongong region had 6 (2 percent).
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While residential construction has begun eased, infrastructure investment by the NSW government has increased, which has resulted in continued, high demand for jobs.
All those tradies in high visibility vests are what's underpinning NSW's economic progress which has seen well over 300,000 extra jobs over the past three years.
The late afternoon line of tradie utes I saw heading in and out of Warriewood on Sydney's northern beaches on a recent visit emphasised their importance to me.
Half had been building new homes in emerging house and land estates, while the others were coming back to their recently purchased homes from project sites elsewhere in Sydney.
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“Every single crane in the sky is more evidence of another home, another school, another hospital, another business in our capital,” NSW Treasurer Dominic Perrottet recently said.
But halt the new housing rollout and it will extenuate the slowing of the highly cyclical residential sector, already impacted by the emerging credit squeeze arising from official regulatory decisions and the finance industry royal commission. 
 
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jchancellor-FAypfDUnLy

Sydney has over half the cranes in the sky nationally, but numbers easing

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The NSW Government has called for expressions of interest to purchase the Sirius building in The Rocks, with a reported $120 million price tag.
Brett Newman, CEO of Property NSW, said the sale process for the property, located at <a href="https://maps.google.com/?q=2-60+Cumberland+Street&amp;entry=gmail&amp;source=g">2-60 Cumberland Street</a>, would be undertaken by way of a two-stage competitive tender process, the first phase an expression of interest and the second a Request for Tender.
“The Government is confident the draft site-specific State Significant Precinct State Environmental Planning Policy, in development by the Department of Planning and Environment, will ensure any future development on the site will consider the significant heritage of The Rocks precinct, including its design, balancing the best outcome for local residents and the wider community,” Newman said.
“The new planning controls, which include the requirement of quality design outcomes, will materially enhance amenity in the area, and will ensure the maximum height of any building would be restricted to the height of the Sydney Harbour Bridge deck.
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“We want to ensure the best value for the State is achieved for the asset while preserving the character of the area.
“Importantly, funds realised through the sale of the site will be reinvested by the Government in new social housing across the State.”
Savills Australia is conducting an international sales campaign to highlight the future potential of the landmark site.
The EOI will run from May 25 for five weeks. 
The sales process is expected to be finalised by the end of 2018.
There is a proposed maximum GFA of 8,420sqm* and flexible B4 Mixed Use proposed land zoning incorporated within the SEPP.
According to Simon Fenn, Managing Director of Savills NSW, Sirius represents a unique opportunity to acquire a rare, freehold land parcel in arguably Sydney’s tightest held precinct. 
“The site provides exceptional Sydney Harbour views to the north and the east, spanning the Bridge and Opera House, which must be seen to be believed,” he continued.
Stuart Cox, Director of Residential Site Sales at Savills Australia, expects high buyer interest.
Mr Cox believes Sirius may be the last freehold development opportunity in the harbour-side precinct of The Rocks.
 
 
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jrobinson-rf4aSBido9

Next phase of Sirius sale process underway through Savills Australia

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EXPERT OBSERVATION
Two months after the Greater Sydney Commission released is Districts Plans to guide future growth for Sydney, the NSW Government has done a backflip on key policies.
An incredible announcement by the NSW Planning Minister means that new planning proposals for housing are on hold in Ryde as are new policies about terrace houses.
There have been significant political statements in Ryde from the mayor and the local member of parliament about over development and now all new planning proposals are on hold. It is clear that we are in a pre-election environment with politicians encouraging communities to be wary of growth.
The District Plans were only released in March this year and they called for 7,600 new homes in Ryde over the next 5 years. They also championed the ‘missing middle’ approach to providing terrace houses and duplexes as a way to increase density that is compatible with detached houses. But now the NSW Government has backed off the use of terrace houses in Canterbury Bankstown and Ryde. The District Plan identifies the Canterbury Bankstown corridor as an important growth area but apparently not for terrace houses.
Only a month ago the government announced the ‘missing middle’ complying code as the clever way to increase density without having apartments. It seems that many councils are now keen to undermine this policy by complaining to the NSW government or by changing the lot size that the new rules relate to.
Canterbury Bankstown Council at its meeting on 24 April 2018 discussed the terrace house code under the heading ‘THE MISSING MIDDLE – A TRAIN WRECK OF A POLICY TOTALLY MISSING THE POINT’. Clearly the state government has responded quickly by doing a back-flip on its missing middle policy.
The Urban Taskforce has been aware of a growing number of politicians who are encouraging their electorate to be against new development and then claiming to be acting on the communities’ behalf. Clearly Sydney is going through a major growth phase with a big swing to apartment living closer to jobs and public transport. We need our politicians to champion the evolution of the city into a more urban way of living. The significant investment in infrastructure by this state government, including metro rail and light rail, will support new densities along their routes.
As the former Governor of the Reserve Bank of Australia, Glenn Stevens, said in his report to the NSW Government on housing affordability more advocacy is needed for the changing nature of Sydney. With ten more months until the state election we need politicians of all parties to support proposals for new ways of living in higher densities rather than inflaming existing community concern about change.
CHRIS JOHNSON is the Urban Taskforce CEO.
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Housing backflip undermines Sydney’s District Plans as election looms

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Sydney's northern suburbs were their strongest markets at the weekend, with the inner south and inner west also performing well.
Sydney could only manage another average 62 percent clearance rate, as the national rate waned to 61 percent.
There were 2,245 homes taken to auction across the capitals, down from 2,311 auctions.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/14/cap-May14.jpg" target="_blank">to enlarge.</a>
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When clearing the 70 percent mark over the summer months, it was Sydney's eastern suburbs and northern beaches which were selling over 80 percent of their stock at the weekend auctions.
Both have dipped since the clouds have come, but bounced back to a near 80 percent clearance rate. 
Click here to enlarge.
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North Sydney and Hornsby secured a strong 83 percent clearance rate, selling 77 of their 96 auctions.
One of Hornsby's priciest sales was a charming cottage which rose nearly $500,000 since it last traded for $730,000 in 2010.
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The three bedroom Palmerston Road home fetched $1.21 million after having a guide of $1.2 million.
It has modern Hampton-inspired updates since it sold last.
 
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Sydney's northern suburbs strong as chill continues to impact the east

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The leasehold interest in the Covent Garden Hotel, a Chinatown hospitality institution with Luey family origins stretching back to the 1970's, has been sold off-market.
The purchaser is believed to be a very experienced multi-hotel operating group from Sydney.
Ray White's Asia Pacific director of hotels Andrew Jolliffe brokered the transaction via an off-market campaign.
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The three storey and dual fronted Covent Garden Hotel opened in 1911 by Tooths &amp; Co and has been a hospitality icon since.
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Jolliffe says the change of hands signifies the enduring nature of Sydney's entertainment precincts.
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"Our client, the Luey family, have very successfully occupied the Covent Garden Hotel for decades, and accordingly sought from us a transaction which identified a suitable party via which to continue the strong business operation known to thousands of local and international patrons" said Jolliffe.
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"Many a visitor to Sydney's vibrant Chinatown district, whether seeing an international performance or attending Paddy's Markets, has walked through the doors of this proud institution.
"Importantly, the transaction we've co-ordinated means the legacy created by the Luey family is in very safe hands for another generation, and will be preserved under the guidance of one of Sydney's most well-known and highly credentialed hospitality families" advised Jolliffe.
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A spokesman for the Luey family confirmed the sale, and advised that the family was extremely proud of the hotel's history, whilst being excited about the business's future under the guidance of the new operator.
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With recent sales of numerous high profile hotel operations including the Vic on the Park and Collaroy hotels to Merivale impresario Justin Hemmes, as well as Newtown's iconic Marlborough Hotel to Solotel's Bruce Solomon, Jolliffe believes the hotel asset class remains well positioned.
"Unmistakably, the asset class remains particularly strong, and strengthening, with key fundamentals all scripting earnings growth indexed to strong cash flows and meaningful barriers to competitive entry."
 
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Convent Garden Hotel premises in Sydney's China Town quietly sold

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EXPERT OBSERVATION
The approval by the NSW Government of a new tower over the future Martin Place metro station is a good balanced solution.
It is important that the NSW Government works with the private sector in rolling out new metro rail lines and stations and the proposal for the Martin Place station is an excellent example of this.
The final setback above a podium of 8 metres maintains the character of Martin Place while allowing a commercial tower to be built over the podium but set back by 8 metres.
The City of Sydney have raised concerns that a set-back of 25 metres would have been preferable but their comments do not take into account that the adjacent MLC Centre tower is set back far more than this.
The proposed tower is well away from the Cenotaph down the far end of Martin Place and is more contextually related to the Reserve Bank building at the top of Martin Place.
As Sydney evolves into a global city with a population of 8 million people there will need to be a balance between maintaining the built form of the past and shaping the city of the future.
It is good that robust discussion occurs as new proposals are made but ultimately the city must change and evolve.
The government’s decision on the unsolicited proposal for Martin Place Station and related new buildings represents a good balance between the past and the future.
The use of the NSW Government Architect Peter Poulet, who strongly supported the 8 metre setback, in achieving this balance is also a good process to ensure quality change occurs in the city.
CHRIS JOHNSON is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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