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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SQM Research has revised down its forecasts for 2018.
It follows recent market evidence that dwelling prices have been falling in Sydney and to a lesser extent in, Melbourne this year.
Indicators such as auction clearance rates, total aggregated property listings and asking prices suggest further deterioration in market conditions in recent weeks, the property research company advised.  
As a result, SQM Research has had to revise down its initial forecasts in five of the capital cities compared to its forecast back in October 2017 via its annual Housing Boom and Bust report.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/sqm2.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/2018/5/7/sqm2.jpg" alt="">
The revisions came with the follow assumptions/Notes
<ul>
<li>No further APRA action taken in 2018.</li>
<li>Cash rate remains on hold at 1.5%.</li>
<li>The recent APRA announcement of lifting the 10% investment credit growth limit (26 April 2018) is likely to have an initial muted impact upon the market.</li>
<li>June quarter – seasonally the strongest quarter in the year, is likely to record a fall in dwelling prices.</li>
</ul>
Sydney
SQM Research believes the Sydney housing market may now record price declines for the year or at best, very small price gains, assuming property investor do come back to the market at a slow rate following the recent APRA announcement. The base case forecast has been downgraded to -4% to 0% dwelling price changes for 2018. 
Recent auction results suggest that market activity has further deteriorated during April. 
Actual auction clearance rates have ranged in the low to mid 50% range with the last weekend of April suggesting that the clearance rate may have dropped further to below 50%. These are levels which, historical, have translated into price falls.
Sydney’s Inner West, Lower North Shore and Eastern suburbs are recording higher clearance rates (average between 60-64%) suggesting the top end of Sydney’s residential housing market ($2.5m+) is holding.
Total Sydney listings year on year have now risen by over 34% and are now at similar levels recorded in 2011 - a point in time when Sydney dwelling prices fell 3% for the year. SQM Research expects listings to rise further in the current month of May.
Days on market for existing listings has increased to 118 days in April 2018 from 107 days recorded in April 2017. This data is backed by agents on the ground whom are reporting in unison that many properties are not moving. 
Asking prices for April fell 1.1% for houses and 0.6% for units – this suggests a degree of capitulation by property sellers which will likely mean a negative pricing result for the June Quarter.
Given the loosening of investment property credit growth restriction, there may be a response from Sydney investors. However, given other housing credit restrictions it is unlikely that the response will be significant. 
SQM noted that on a nominal aggregate incomes to dwelling prices measure, "the Sydney market is approximately 45% overvalued."
SQM Research expects this overvaluation to wind down somewhat over an extended period of time. 
SQM expects Melbourne to record a flat market, with risks on the downside that prices could fall for the year.
Click to <a href="https://www.propertyobserver.com.au/images/2017/10/18/Crash1.jpg" target="_blank">enlarge the previous forecast.</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/2017/10/18/Crash1.jpg" alt="">
SQM's Louis Christoper tweeted this morning that the "main reason for the forecast range is a degree of uncertainty at our end about the impact of the recent lifting of investment property credit growth limits by APRA."
"Our expecation is a muted response from property investors," he advised.
 
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jrobinson-rf4aSBido9

Sydney prices to likely fall: SQM's revised 2018 forecast

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The price gap between houses in Melbourne and Sydney is at its narrowest in four years, according to the Domain March Quarter 2018 House Price Report.
Sydney house prices have reported the largest quarterly decline since December 2015. 
In the March 2018 quarter, Sydney houses fell 2.6 percent, with the median price now just over $1.15 million.
House prices in Sydney fell 1.4 percent annually, marking the city's first annual decrease since mid-2012.
House prices in Melbourne increased again, reaching $914,518 in March, a 0.1 percent quarterly increase.
It marked 22 consecutive quarters of growth for the Victorian capital. 
Following a 15-month stretch of double-digit annual growth, however Melbourne house prices growth slowed to a three-year low of 8.8 percent year on year.
The $ price difference for houses is now $200,000.
Back in 2015 when Sydney went through the $900,000 barrier, the price gap was $260,000, with Melbourne house's sitting at $638,000.
At Sydney's peak in the June quarter 2017, the median house price stood at $1,178,417, a price difference of $312,705 to Melbourne's $865,712 median.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/26/houser%20prices.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/2018/4/26/houser%20prices.jpg" alt="">
Sydney units also slipped back closer to Melbourne.
They fell 0.5 percent in the March quarter and 0.6 percent annually.
The move marks almost a decade since both house and unit prices in Sydney decreased over the quarter and year.
Domain's Dr Nicola Powell said the trend was identified late last year.
“Following marginal quarterly growth in December, house and unit prices in Sydney continued to soften over the March quarter, a trend first identified in September 2017. 
"Although both house and unit values declined, units softened moderately compared to house prices in March, demonstrating the impact of the affordability hurdles of purchasing a home in the Harbour City. “New South Wales is experiencing an increase in first home buyer activity, which is being driven by government incentives. 
"The increased demand at the entry-level price point may support price increases at the lower end of the market. 
"However, it remains to be seen whether the Banking Royal Commission will prompt stricter mortgage lending standards, making credit harder to attain."
Melbourne unit prices delivered another quarter of improvement, rising 0.7 percent to reach a median value of $505,861.
Melbourne was the only capital city with unit growth over the March quarter.
Annually, units in Melbourne rose 7.9 per cent.
"While Sydney is currently dealing with the impacts of decreased investor activity, Melbourne has always been an owner-occupier led market, and is somewhat less exposed to investor movements relative to Sydney," Powell said. “Ongoing price growth in the Victorian capital is being supported by the city’s rising population, strong employment growth and lower affordability hurdles. 
"Although there are certain pockets of Melbourne impacted by heightened unit supply, overall the city delivered the strongest annual growth in eight years." 
 
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Melbourne houses and units narrow price gap on declining Sydney

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Already no stranger to major suburban skyscrapers, Sydney may well host a duo of hulking towers in Crown Nest.

The push is on to capitalise upon the NSW Department of Planning and Environment's strategic review of the St Leonards and Crows Nest Station Precinct, with the new Crows Nest Metro Station at the heart of the renewal area. Entity Eastern Property Alliance Pty Ltd is behind the bid to realise two skyline changing towers of 193 and 162 metres within the precinct which is earmarked for greater densification.

Both towers are slated for a triangular site bound by Falcon Street, Alexander Street and Pacific Highway. Known as the five ways intersection site, the 3,010 square metre plot acts as a southern gateway site for both Crown Nest and adjoining St Leonards.

North Sydney Council fielded the application earlier this month, and is officially addressed 395-419 Pacific Highway.

<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/image53_6.jpg" rel="gallery-all" title="Hero perspective. Planning image: Sydney Design Studio"><img alt="" class="image-article-full-width-580px" height="1145" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image53_6.jpg?itok=PnYTMw-f" title="Hero perspective. Planning image: Sydney Design Studio" width="580"></a>

<figcaption>Hero perspective. Planning image: Sydney Design Studio</figcaption></figure>Darlinghurst-based Sydney Architecture Studio have conceived the dual tower design, describing the project within their concept design report in the following manner:

<blockquote>
The proposal addresses the aspirations outlined in the Preliminary Urban Analysis by creating a ‘gateway’ site. Furthermore, it is appreciated that the project needs to deliver a work of international significance in order to establish the southern ‘gateway’ to the new Crows Nest and St Leonards CBD.

Balancing the needs and interests of the local community while addressing the bigger picture changes as a new CBD is part of our work.

The proposal seeks to present an architectural expression that reflects the mixed-uses &amp; diversity within. Rather than a singular repetitive tower facade, we will be exploring architectural devises that are in direct response to orientation, height above ground, and drone by user needs within.

In order for Crows Nest to continue to play an important role as a vibrant activity centre, it is critical there are opportunities to accommodate a mix of economic activity.
</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/image55_8.jpg" rel="gallery-all" title="Podium and hotel articulation. Planning image: Sydney Design Studio"><img alt="" class="image-article-full-width-580px" height="431" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image55_8.jpg?itok=XZF0S9Zk" title="Podium and hotel articulation. Planning image: Sydney Design Studio" width="580"></a>

<figcaption>Podium and hotel articulation. Planning image: Sydney Design Studio</figcaption></figure>The development team's intent in delivering a mixed-use project sees in inclusion of all uses aside from the typical residential outcome. More specifically 10-15% of the 60 and 50-storey towers uses will be dedicated to non residential (retail/ office/ hotel).

7 basement levels are envisaged, with the common podium structure above incorporating multiple levels of retail and commercial space, childcare facilities and recreational areas.

Hotel areas are envisaged within the lower portion of the towers proper, with dedicated residential apartments above.

395-419 Pacific Highway is not the only site in Crows Nest expecting a tower of considerable size. Consultancy firm Property Development Systems is showcasing <a href="https://www.propertydevelopmentsystems.com/the-wentworth/">The Wentworth at 286 Pacific Highway</a> which is directly opposite 395-419 Pacific Highway.

Imagery suggests it will span approximately to levels although no development application relative to this development has been lodged to date.

<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/image56_7.jpg" rel="gallery-all" title="The Wentworth. Image: Property Development Systems"><img alt="" class="image-article-full-width-580px" height="290" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image56_7.jpg?itok=uE0VDn0_" title="The Wentworth. Image: Property Development Systems" width="580"></a>

<figcaption>The Wentworth. Image: Property Development Systems</figcaption></figure>
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silvermb

Crows Nest earmarked for Sydney's next major skyscrapers

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Six postcodes had zero mortgage delinquencies in November 2017, making them the best performing in the country.
Ten of the 20 best-performing postcodes in Australia were in Sydney, while six were in Melbourne.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/12/BEST%20POSTCODE.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/2018/4/12/BEST%20POSTCODE.jpg" alt="">
Most best-performing postcodes were located in capital city regions where employment is concentrated in professional services.
The weighted average current loan to value ratios for the best performing regions were typically lower than the national average of 63.2%.
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j.ballantyne1990-6AQqhLzZaK

Crows Nest, Mosman and Carlingford the best postcodes for mortgage payments: Moody's

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EXPERT OBSERVATION
Housing market conditions continue to soften with most capital city housing markets seeing price falls or slower growth, and transaction numbers remain lower than year ago levels. Auction clearance rates, while they have picked up from their late 2017 levels, remain below where they were a year ago. 
Melbourne house prices are also now also weakening and there are early signs of this occurring in Adelaide as well. Brisbane dwelling prices have been broadly flat in recent months while Perth, after a long period of falling prices, appears to have stabilised.
NAB recently suggested housing sentiment rose in Q1, however its WA and QLD that are dragging the softening Victoria and NSW.
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The Melbourne and Sydney housing markets have been affected by falling overseas demand. The NAB Residential Property Survey indicates that the foreign share of new property purchases reached a six year low at the end of 2017, although there was a small increase in foreign interest in the March 2018 quarter. 
In addition to lower foreign demand, policy changes have affected the investor market. This can be seen in housing finance approvals data; the value of investor finance approvals in January was down 12% on the same time last year. The weakening in investor finance was offset for a while by rising approvals for owner-occupiers, but even this has turned negative recently. 
As a result, in January 2018 the number of housing finance approvals (owner-occupier, ex refinancing) was almost the same as a year ago, after showing double digit growth in mid- 2017.
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We have slightly lowered our house price forecasts for 2018 and now expect a small fall in house prices (now - 0.8% was +0.7%), largely due to continuing weakness in the Sydney market and a softer Melbourne market. 
For 2019, the house price forecasts remain broadly unchanged at +0.8% with only Sydney expected to fall (albeit modestly). 
Apartment forecasts are broadly unchanged (-0.8% in 2018 &amp; -1.8% in 2019) reflecting large stock additions and a soft outlook for foreign demand. More details are available in the NAB Residential Property Survey.
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Dwelling investment has been trending down since Q3 2016. This can be seen in building approvals data, particularly for ‘other dwellings’ (principally apartments but also semi-detached dwellings). However, while building approvals remain off their peaks, there is little sign at this stage of further downwards momentum, and they remain relatively high by historical standards. Still strong population growth means that even as a large stock of apartments come onto the market over the next few years, we are unlikely to see a major correction. 
Nevertheless, we still see further small declines in dwelling investment in 2018 and 2019 before stabilising in 2020.
Alan Oster is group chief economist, National Australia Bank, and can be contacted <a href="https://business.nab.com.au/author/alan-oster/">here</a>. 
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Only Sydney house prices to fall in 2018 and 2019: NAB

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Supply lines for Parramatta and North Sydney are set to increase in size over the next few years, according to the Colliers International Q1 Metro Office Research and Forecast Report for 2018. 
The light rail is continuing to transform the dynamics of Parramatta, who has seen grade B vacancy slash more than half.
From the six months to January 2018, it dropped from 6.3% to 2.7%. 
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Kristina Mastrullo, associate director of research at Colliers International said the upward rents are expected to continue.
“B grade rents are expecting to continue their upward trajectory, with the ability to further increase A grade rents," she noted.
"Sizeable B grade space becoming available is when Property NSW vacates 5,700sqm in 93 George Street, moving to Parramatta Square."
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Mastrullo suggested Parramatta will continue with historically low vacancy rates.
“The next two years will see Parramatta continue with historically low vacancy rates, increased rents and decreasing incentives as Lessors look to capitalise.
"2021 will deliver new developments and much-needed opportunities not only for large occupiers but medium sized businesses.”
“Adding to demand is interest from co-working / serviced office groups who are seeking A grade quality as either majority or whole-building occupiers i.e. over 3,000sqm, delivering scale.”
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“Demand is particularly strong at the top end of the market, leading to off market transactions occurring on a more frequent basis.”
Mastrullo also cited North Sydney as somewhere businesses are targeting.
“With the Sydney Metro, the Victoria Cross Integrated Station Development and increasing investment in retail and public amenity, requirements for North Sydney office space is likely to strengthen moving forward, encouraging organisations to consider North Sydney as a first option for accommodation.”
“Its an exciting time for North Sydney; the market is going through a transformation and we are seeing high profile corporates choosing North Sydney as a location,” said Louise Rowe, National Director of Office Leasing at Colliers International. 
“The quality of amenity, the affordability of workspaces and the accessibility to the CBD and outer suburbs is giving tenants what they want in a location for their business.” 
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Parramatta and North Sydney office market primed for increase: Colliers

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Sydney Olympic Park Authority has opened a tender for the leasing of The Lodge at Sydney Olympic Park.
Located within the heritage-listed Newington Armory, The Lodge features:
<ul>
<li>Four separate accommodation buildings equipped to accommodate 160 beds – each with its own meeting room, kitchen and amenities</li>
<li>A large dining hall and recreation area</li>
<li>An administration building with main accommodation amenities and staff sleeping areas</li>
</ul>
The open tender seeks a tenant to occupy the premises for a maximum of five years.
The Lodge has primarily provided low-cost, accommodation services; particularly well used by school groups, sporting teams, music and creative arts groups as well as other visitors.
Although its current permitted use is for short-term accommodation, Sydney Olympic Park Authority is now open to considering other permissible uses for The Lodge.
Charles Moore, CEO of Sydney Olympic Park Authority, said the Lodge is the sole accommodation offering at the 52-hectare Newington Armory.
“We would like to see Newington Armory become a thriving cultural and recreational hub for greater Sydney.” 
Newington Armory is a riverside landscape of rolling hills, woodlands and 100 heritage buildings which date back to the 1800s.
The area provides a cultural, recreational and arts program featuring a variety of leisure tours and activities such as dis golf, bicycle and Segway hire, Heritage Train Discovery Tour, temporary public art, visual arts exhibitions, digital filmmaking and creative writing for all ages, as well as home to the Judo NSW Training Facility.
The open tender closes on 1 May 2018.
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The Lodge at Sydney Olympic Park opened for tender

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Telopea's tilt at urban renewal received a boost late last week as the New South Wales Minister for Social Housing initiated an Expression of Interest (EOI) campaign that will ultimately lead to a mass-scale redevelopment within the suburb.

The EOI process will target the private development sector and/or not-for-profit organisations in the expectation of leading a development team that will remodel the 64-hectare Government-owned land parcel. Telopea's master plan is likely to deliver an estimated $2.5 billion of new social, private and affordable housing, along with associated infrastructure over a 10-15 year timeframe.

The land in line for renewal includes 600 existing social housing dwellings and falls under the New South Wales Government's Future Directions in NSW Social Housing blueprint that aims to introduce 30 per cent / 70 per cent split between social and private housing on redeveloped Government land.

<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/image119_1.jpg" rel="gallery-all" title="Telopea and surrounds. Image: TfNSW"><img alt="" class="image-article-full-width-580px" height="646" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image119_1.jpg?itok=Imc_RExY" title="Telopea and surrounds. Image: TfNSW" width="580"></a>

<figcaption>Telopea is in close proximity to Parramatta. Image: TfNSW</figcaption></figure>PBD Architects conceived Telopea's concept master plan, and have outlined the area's importance within the wider Sydney context:

<blockquote>
This area is currently, and will continue to, undergo significant change and renewal as industries move out of this area of Sydney providing the opportunity for new homes, jobs and community facilities between Sydney and Parramatta CBDs.

The Telopea master plan area is based on an 800m radius east of the existing heavy rail station. With a total of 1400 existing dwellings that are a mix of medium rise apartments, dwellings houses, high rise apartments and townhouses, it is estimated that Telopea could deliver between 3500-4500 new dwellings by 2036.

With a focus on improving permeability, new connections across the rail corridor has been introduced. The tallest building will be focused opposite the light rail stop and transitioned appropriately within the core to facilitate the renewal of the denser and aged social housing stock.

The transitioning of building heights, together with the topography, will provide a clear urban structure focused on the station and core, and facilitate good solar access and views.
</blockquote>

It's envisaged that existing housing stock will be replaced with multiple towers reaching 70 metres.

<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/image118_0.jpg" rel="gallery-all" title="Light rail is optioned as part of the Telopea renewal. Image: PBD Architects"><img alt="" class="image-article-full-width-580px" height="344" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image118_0.jpg?itok=7Lp5IT15" title="Light rail is optioned as part of the Telopea renewal. Image: PBD Architects" width="580"></a>

<figcaption>Light rail is optioned as part of the Telopea renewal. Image: PBD Architects</figcaption></figure>Progression to the EOI stage has prompted Urban Taskforce Australia to call for further urban renewal and cooperation between the New South Wales Government and the private development sector.

<blockquote>
The Telopea project follows on from the successful outcome for the Ivanhoe precinct where social and affordable dwellings are provided to Government by allowing significant numbers of market apartments to be built. The outstanding design of a mixed use precinct at Ivanhoe can now occur at the Telopea site.

Telopea has a light rail station and the potential to develop a new town centre with a public plaza. The private sector development industry will be very interested in the Telopea revitalisation project.

The scale of the Telopea project where 600 old social housing dwellings will be replaced by 1,000 social and affordable dwellings as well as 2,500 market apartments demonstrates the value of developing a more urban character with greater densities than Sydney’s typical suburban form of housing.

By generating greater density and height around metro rail and light rail stations the Government is reinforcing the shift to public transport while housing Sydney’s growing population.
</blockquote>

The EOI campaign will close in May, with the process of relocating residents in motion. Current residents will be provided the opportunity to return to Telopea as future stages of the project are completed.
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Telopea's transformation moves to the EOI stage

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Sydney is set to welcome its first Hotel Indigo in its CBD.
The hotel, signed by IHG and Watson Elite, is set to open in 2021.
The press release noted that 'no two Hotel Indigo properties are the same' and it will draw on the rich heritage of Sydney's Central precinct.
Hotel Indigo Sydney Central’s design will draw its unique identity from the neighbourhood’s rich heritage and the nuances of the site.
The cantilevered northern wing will provide a backdrop to its neighbour, the heritage-listed Corporation Building, while a grand artwork will become a distinctive external feature, celebrating the hotel’s location within the Haymarket entertainment precinct.
Inside, the design will ensure the hotel fits naturally into the neighbourhood, telling stories of the local culture by weaving together rich materials, colour palette and custom pieces from local artists, photographers and furniture makers. 
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The 168-room hotel will include a restaurant, café and bar which will echo the produce markets were located in Haymarket from the early 20th century through to the 1980s. 
It will also include five suites, rooftop terraces for meetings and events with views over the city and a gym.
IHG's Abhijay Sandilya said he expects the hotel to become one of Sydney's leading boutique hotels.
“Hotel Indigo Sydney Central will be IHG’s first lifestyle-branded boutique hotel in Sydney, providing its signature ‘effortless authenticity’ to guests visiting Australia’s largest business and tourist hub," he said.
"It’s also the third Hotel Indigo signing for Australia, demonstrating the appetite for a hotel that offers a local and unique experience as well as the reassurance of a global hotel chain.” 
“We expect Hotel Indigo Sydney Central to become one of the city’s leading boutique hotels, making its mark thanks to its unique, eclectic style.
"It will perfectly complement our existing midscale to luxury IHG assets across this landmark city, building IHG’s scale in Australia’s largest city.”
Launched in 2004, Hotel Indigo is the world’s first globally branded boutique hotel brand.
It launched in Asia Pacific in January 2015 with the opening of Hotel Indigo Bangkok Wireless Road, Thailand, followed by the opening of Hotel Indigo Singapore Katong, Singapore in July 2016 and then Hotel Indigo Bali Seminyak Beach in late 2017.
There are currently 82 Hotel Indigo properties (10,645 rooms) in the global pipeline. 
 
 
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Sydney next to welcome Hotel Indigo

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Defence Housing Australia (DHA) has announced approval for the first stage land release which will see the former Schofields Aerodrome site transformed into a residential community.
The master plan for Akuna Vista includes proposals for a new retail precinct, alongside a new school and sporting and recreational facilities.
Located in the high growth north west Sydney area, Akuna Vista development will be a 55 minute train commute to the Sydney CBD, as well as bus services heading to nearby Norwest Business Park and Parramatta.
The housing development takes its name from a colloquial Australian Aboriginal word Akuna, which means ‘the way forward’ or ‘flowing water’. 
This is a direct reference to the adjoining Eastern Creek riverside amenity. 
DHA Managing Director, Jan Mason, said the planned Akuna Vista development would deliver attractive lifestyle and investment opportunities for prospective buyers in the area.   "We are very proud to develop this vibrant Akuna Vista community in such a premium location and with such amazing connectivity for future residents," Mason said.   "The former Schofields Aerodrome site has been mostly dormant for almost two decades, so we are looking forward to bringing it back to life and creating a new residential hub that will benefit from direct access to new infrastructure and strong local economic growth.   "DHA has a proven track record of building award-winning communities that offer high-quality housing for families to call home. Akuna Vista is set to become a sustainable community where residents can grow and prosper for many years to come."   The project will include 1,100 residential lots with 220 reserved for Defence members and their families. This continues a long defence tradition in the area, with the former RAAF Base Schofields known as HMAS Nirimba, operating as a Royal Australian Navy Training Facility until it was eventually decommissioned in 1994.   As well as looking after the housing needs of Defence members and their families, DHA is a leading Australian residential property developer, with almost 50 projects underway across the country and a development pipeline of approximately $2.5 billion. The Akuna Vista community will be developed using a phased construction process that will stretch through to 2026, designed to minimise the intensity of construction in the area.
 
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