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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Developer Deicorp has got approval for the first part of its $400 million mixed-use project in Sydney’s Westmead.
The West Joint Regional Planning Panel gave its nod to Deicorp’s first half of Highline Westmead at <a href="https://deicorpproperty.com.au/property/westmead/" target="_blank">151 Hawkesbury Road</a>. It will comprise 556 apartments and the cost of construction is pegged at $168 million.
Overall, the $400 million project will include residential, medical, university and a retail precinct in Westmead, the first of its kind in Australia, The Australian Financial Review reported.
Application for the second part is pending and is on exhibition with Parramatta City Council. That will allow the construction of another 344 units and cost $113 million.
Apartments will come in a mix of studios, one-, two- and three-bedroom units. There will also be a communal kitchen, dining and barbecue areas and a rooftop garden.
The whole development spans four hectares.
Deicorp bought the sites through an expressions-of-interest campaign from Western Sydney University in late 2015.
The project is being designed by Turner Architects, and it will have a light rail station in front of the site as part of the new Parramatta Light Rail.
There will be spaces for medical support services and community facilities such as childcare centres, the AFR said.
The heritage-listed St Vincent's and Farmhouse buildings on the site will be retained.
Deicorp managing director Fouad Deiri said previously the company would embark on a sales strategy that limited foreign buyers to 50 per cent of the project. Strong local demand for the project is expected.
 
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jonathanchancellor-7SQnKwU6yx

Developer Deicorp gets approval for stage one of Westmead apartment project

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The City and Inner South had the highest weekend auction clearance rate in Sydney, according to CoreLogic’s latest report.
The property data firm says that 80.6% of its 67 auctions were cleared.
This is followed by Baulkham Hills and Hawkesbury with 79% and the Eastern Suburbs, North Sydney and Hornsby with 77.4% each.
<a href="https://www.propertyobserver.com.au/images/2017/08/28/Screen%20Shot%202017-08-28%20at%2011.28.43%20am.jpg" target="_blank">Click 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/2017/08/28/Screen%20Shot%202017-08-28%20at%2011.28.43%20am.jpg" alt="">
Sutherland had only 57.5% of its auctions cleared.
A two bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-enmore-126042958" target="_blank">1/21-27 Tupper Street</a>, Enmore (above) was sold for $818,000.
Built in 1977 it last sold in 2000 for $111,000.
Another two bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-erskineville-126071874" target="_blank">4/116 Swanson Street</a>, Erskineville (below) was sold for $987,000.
Built in 1996 it last sold for $580,000 in 2009.
<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/2017/08/28/4_116%20Swanson%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Sydney's city and Inner South scores 80% weekend auction clearance rate: CoreLogic

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Sydney has the highest growth in total property listings, according to CoreLogic’s latest report.
The property data firm says that over the past 12 months the number of total listings has risen by 16.1%.
Canberra takes second place with a total listing rise of 6.7%.
<a href="https://www.propertyobserver.com.au/images/2017/08/28/Screen%20Shot%202017-08-28%20at%201.23.11%20pm.jpg" target="_blank">Click 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/2017/08/28/Screen%20Shot%202017-08-28%20at%201.23.11%20pm.jpg" alt="">
However Darwin takes top spot for the highest growth in new fresh listings with 15.8% growth in the past 12 months, albeit a very small offering.
Hobart has biggest decline of total listings with a decline of 31.7% in the past 12 months.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-marayong-126273506" target="_blank">27 Daraya Road</a>, Marayong, NSW (above) has been listed for between $795,000 to $845,000.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-winmalee-126272774" target="_blank">2 Nicole Place</a>, Winmalee, NSW (below) has been listed for $679,000.
<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/2017/08/28/2%20Nicole%20Place.jpg" alt="">
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Sydney total listings rises by 16%: CoreLogic

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The City of Sydney today released an updated design for Cloud Arch – its ambitious new public artwork outside Sydney Town Hall, to be built by March 2019.
Designed by visionary Japanese artist and architect Junya Ishigami, Cloud Arch is a majestic steel arch that will soar 58 metres above George Street and increase Sydney’s pulling power on the global tourism stage, similar to Chicago’s Cloud Gate and St Louis’ Gateway Arch.
When complete, the sculpture will span from the QVB across George Street to the intersection with Park Street, with light rail and pedestrians moving underneath.
Lord Mayor Clover Moore said the construction of Cloud Arch symbolises the moment the city centre finally becomes a people’s place.
“Making our city work better for the people in it every day has been a key priority over the last decade and the light rail project is a big part of that,” the Lord Mayor said.
<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/2017/08/25/Cloud%20Arch%202.jpg" alt="">
“Light rail and the transformation of George Street finally gives our city centre a true people’s place where the pedestrianised George Street meets Sydney Town Hall and our new Sydney Square.
“Our residents and businesses have consistently told us they want more public artwork.
"Cloud Arch is our gift to the people of Sydney - a stunning marker of the day the city is finally handed back to its people.
“Cloud Arch is the most significant artwork to be built in Australia for decades and will help raise our city’s profile on the world stage.
“It will become a symbol for Sydney and a popular drawcard for residents, workers, tourists and visitors.
The updated design includes an arch that is almost doubled in size after a number of technical challenges with the initial design.
<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/2017/08/25/Cloud%20Arch%203.jpg" alt="">
Complex technical constraints beneath George Street have altered the location of the footings which in turn required alterations to the artwork’s structure.
The unforeseen constraints related to rail tunnels, retail tunnels, the Cross City Tunnel and major underground services.
Further challenges have arisen due to the light rail construction work and the City’s ability to access the site while construction works take place.
The loop of the arch has also been enhanced to better frame Sydney Town Hall, the QVB and important monuments and buildings at the heart of the city.
The new design and cost of materials, including the 140 tonnes of steel for the larger arch and a 43 per cent rise in global steel prices since December 2015, means the cost of the project has increased from $3.5 million to $11.3 million.
City staff have proposed that the increase in cost could be covered by postponing and using funds set aside for Hany Armanious’ Pavilion artwork and re-allocating savings from the public domain budget – a result of a number of voluntary planning agreements that the City struck with developers.
<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/2017/08/25/Cloud%20Arch%204.jpg" alt="">
By comparison, the cost to install Chicago’s Cloud Gate was AUD $39.2 million and St Louis’ Gateway Arch was AUD $24 million in 1965.
Councillors will consider a report detailing the updated design at a Council meeting on Tuesday 29 August.
“The value that this artwork will add to the city centre cannot be underestimated,” the Lord Mayor said.
“The additional investment will be repaid many times over through the hundreds of thousands of visitors that will visit Sydney to view the artwork, dine at nearby eateries and spend money at local businesses, boosting the local economy.
“It will become one of the most photographed landmarks in our city and add to Sydney’s standing as one of the world’s great cultural capitals.”
Business, arts and community figures have voiced their support for Cloud Arch and its potential to enhance Sydney’s standing on the world stage.
Sydney Business Chamber Executive Director Patricia Forsythe said: “We congratulate the City of Sydney for its commitment to public art in the city.
“Art is always subjective and the fact is, this sculpture will be a major talking point and will enhance the city’s pulling power.
“We know Cloud Arch will be of interest to visitors and will add to the many attractions that Sydney has to offer.”
Mirvac CEO Susan Lloyd-Hurwitz said: “Public art can really make a place come to life; it's capable of transforming otherwise ordinary places into living landmarks, drawing visitors and defining areas where people gather and meet.”
Carnival Australia Executive Chairman Ann Sherry AO said: “I think cities improve both liveability and attractiveness to visitors by incorporating art into public space.
“It shifts perception, delights visually and great cities support artists by showcasing their work.”
<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/2017/08/25/Cloud%20Arch%205.jpg" alt="">
Art Gallery of NSW Director Dr Michael Brand said: “The increase in the scale of Ishigami’s proposed design greatly adds to its appeal and promises to be even more compelling that the original concept.
“I have no doubt it will bring significant international attention to Sydney.”
Museum of Contemporary Art Director Elizabeth Ann McGregor said: “Such works of art have the capacity to be game changers, attracting attention well beyond the immediate environment.
“The inevitable difficulties in delivering them are quickly outweighed by the impact – all the initial criticism of Antony Gormley’s Angel of the North is long forgotten, as it has become the symbol of the regeneration of the City of Gateshead in the UK.”
Penelope Seidler AM said: “Cloud Arch will be the most exciting design to emerge on the Sydney scene since the Opera House.
“I know it will become a Sydney icon. The sculpture demands views from all angles, it is puzzling and beautiful as well as an engineering masterpiece.”
Committee for Sydney Chairman Michael Rose AM said: “We're really pleased to hear that the City of Sydney has decided to proceed with the Cloud Arch.
“We think it's going to be an extraordinary piece of public sculpture, that's going to define an important part of the city.
“We're looking forward to seeing it and are sure that it's going to become a much loved part of our city.”
John Kaldor AO said: “Cloud Arch is a sublime work arching towards the sky defining Sydney’s ambition. It is a great example of what public art can offer.”
Sydney Community Foundation Chair Michael Lynch AO CBE said: “Junya Ishigami has created an architectural wonder work for a very important piece of public space in a city that needs to lift its spirits and aspire to better and kinder ways of building our town. I love the imagination and aspiration behind this work.”
Grasshopper Bar owner Martin O’Sullivan said: “Art draws people to the city and the more people we have in the city, the more money is spent at small businesses.
“We’ve seen the impact public art can have with Art &amp; About. It also changes the way people move around the city and their perceptions of its liveability.
“Cloud Arch will be another reason for people from interstate and overseas to visit Sydney.”
The Grounds co-founder and creative director Ramzey Choker said: "Supporting the growth of the CBD through this iconic landmark will continue to evolve Sydney's experience and inject life into our city.
“It demonstrates that we are invested in creativity, culture and building communities.”
<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/2017/08/25/Cloud%20Arch%206.jpg" alt="">
Once approved, construction of Cloud Arch is expected to be complete before March 2019.
For media inquiries or images, contact City of Sydney Senior Media Advisor Alex Cauchi.
Phone 0467 803 815 or acauchi@cityofsydney.nsw.gov.au 
For interviews with Lord Mayor Clover Moore, phone 02 8974 4165 or email media@clovermoore.com.au
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Possibly iconic artwork signals day Sydney becomes "a true people’s place"

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The ASX-listed property fund manager GDI Group has sold its A-grade commercial office tower at 66 Goulburn Street in Sydney CBD.
It has been sold to the Singapore real estate firm Ascendas-Singbridge for $252 million.
The 24 floor building has 22,929 square metre of space.
Its tenants include Samuel Griffith Chambers, Government Property NSW, Prudential Investment Co, William Buck and the Copyright Agency.
The tower was acquired in 2014 for $136 million when the building had over 6000sq m of vacancy and expiring leases including one for 10,432sq m.
GDI has since leased, renewed or agreed to lease all its net lettable area.
The property is opposite the recently sold 59 Goulburn Street tower, bought by Fortius Funds Management for $158 million.
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GDI sells 66 Goulburn Street for $252 million

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A local buyer has offered around $18 million for a penthouse at Shanghai United's luxury apartment project, Castle Residences ahead of its launch this Saturday.
It is understood the buyer has offered to pay more than $60,000 a square metre for the 300 sqm penthouse.
Its price will almost mirror AMP Capital's recent Circular Quay Loftus Lane penthouse sale at $67,000 a square metre in June.
<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/2017/08/10/Castle-2.jpg" alt="">
Shanghai United has more than 100 buyers have registered to buy the first 80 luxury apartments at Castle Residences project, including 21 Melbourne private buyers who flew up to Sydney on Monday to personally register for the apartments after seeing an advertisement for the apartments in a Chinese newspaper.
CBRE is marketing the project.
"Interests have exceeded our expectations," Shanghai United chief executive Yangdong Xu said.
<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/2017/08/10/Castle-3.jpg" alt="">
"Potential buyers have said the combination of a five-star hotel in a mixed-use apartment project in a good location was key."
The $380 million project at 110-118 Bathurst and 203 Castlereagh Streets is a mixed-use tower incorporating the 121-room Porter House Hotel, MGallery by Sofitel and 131 apartments known as Castle Residence Apartments.
The hotel, by Accorhotels will be on levels one to nine and the apartments will be located above it.
One of the Melbourne buyers, Raymond Wang, said the inclusion of the hotel in an apartment tower especially in a top location like Sydney CBD would raise its value.
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"In Melbourne there are so many apartments but Sydney's supply shortage and stable rents are more attractive to an investor," he told Shanghai United.
Shanghai United, which is backed by 10 mainland developers, has gone from strength to strength since arriving on the Australian property scene just over a year ago.
Its latest acquisition is Sydney Double Bay's Intercontinental Hotel for $140 million.
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Another $18 million penthouse in Sydney's CBD 

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A site housing a half-a-century old meat company based in Sydney’s fringe suburb of Glebe has sold for for $23,580,000 to a local Chinese developer, AVP Developments Pty Ltd.
‘The Glenmore’, at <a href="https://www.colliers.com.au/news/2017/new-chapter-for-historic-glebe/" target="_blank">40-46 Wentworth Park Road</a>, currently houses the Glenmore Meat Company.
The Glenmore Meat Company became popular with Sydney-siders, with its origins dating back half a century to a small meat company based in Paddington’s Glenmore Road. It was founded in 1967.
The 2,034 sqm site was being marketed by Colliers International’s Ryan Bennetts and Guillaume Volz through an expressions of interest campaign that closed on May 24. It was expected to fetch around $20 million.
According to the selling agents, there were 26 bids and more than 250 enquiries and several bids exceeded the price expectations.
“The Glenmore was one of the most hotly contested development sites we’ve seen this year,” said Ryan Bennetts.
“Glebe is shaping up as one of Sydney’s most desirable residential markets given its proximity to the CBD, walking distance to Sydney’s leading universities and upcoming rejuvenation of White Bay and the Fish Market precinct.”
The suburb is well positioned to take advantage of the redevelopment of the Bays Precinct, which is expected to become a hub of enterprise, activity and beautiful spaces.
Bennetts added that the sale and interest in the site showed developer preference for owner-occupier style product with townhouses most likely for the site, particularly with a scarcity of the townhouse-style product amid many high-density projects in the area.
The sale follows the success of the Roxy-Pacific development West End Residences nearby, which sold 70 percent of the apartments on its first day of launch on April 1.
Located just 3 km south-west of the Sydney CBD, Glebe was traditionally regarded as a working class suburb on the city fringe, but over time has emerged as a hotspot for tertiary education, retail and community living.  
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Glenmore Meat Co site in Sydney's Glebe sells to Chinese buyer for over $23.5 million 

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Sydney has the highest growth in the number of new listings, according to CoreLogic’s latest report.
The property data firm says that the number of new listings has grown to 6,740, a rise of 14.2% as at early August.
This is more than Melbourne’s growth of 9.4%.
<a href="https://www.propertyobserver.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.04.19%20am.jpg" target="_blank">Click 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/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.04.19%20am.jpg" alt="">
Canberra has the lowest boost in activity with only a 1.8% rise in the number of new listings.
Meanwhile Brisbane, Perth and Darwin continue to see a fall in the number of new listings with Perth the highest with a drop of 11.7%.
A three bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-sydney-126017906" target="_blank">232/569-581 George Street</a>, Sydney (above) has been listed for $1.68 million.
It last sold in 2006 for $575,000.
A one bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-sydney-126049158" target="_blank">207/187 Kent Street</a>, Sydney (below) has been listed for between $875,000 to $900,000.
<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/2017/08/07/207_187%20Kent%20Street.jpg" alt="">
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Fresh Sydney property listings up by 14%: CoreLogic

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Sydney’s City and Inner South region had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 53 auctions in the area 84.9% resulted in a successful outcome.
This was followed by the Inner West with 82.1% and the Northern Beaches with 80.7%.
<a href="https://www.propertyobserver.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2010.11.32%20am.jpg" target="_blank">Click 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/2017/08/07/Screen%20Shot%202017-08-07%20at%2010.11.32%20am.jpg" alt="">
Only 52.6% of Blacktown's 19 auctions were cleared making it Sydney's lowest clearance rate region.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-kurnell-125892974" target="_blank">37 Dampier Street</a>, Kurnell (above) was sold for $1.38 million.
It was last sold in 2011 for $530,000.
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Sydney's City and Inner South scores 84% auction clearance rate: CoreLogic

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Bangarra has announce their move to International Towers at Barangaroo, Sydney in 2018.
The company is vacating their current premises at Pier 4/5 to make way for the construction phase of the major redevelopment of the Walsh Bay Arts Precinct.
The theatre's Philippe Magid, said the company is excited to have secured a temporary new home featuring a dance studio for rehearsals and office space for administration.
“This is a great partnership between the private sector and the arts.
“It was an extensive search and we are extremely thankful to the NSW Government and International Towers for their generosity and flexibility.
“As a world-class dance company, we require a very specific space and International Towers have made innovative use of a vacant area within Tower Three to ensure we are properly accommodated during this interim period,” said Magid.
International Towers general manager, Tony Byrne said Bangarra is a welcome addition to the growing innovation community at International Towers.
“They are a wonderful addition to our current ecosystem of tenants - bringing an arts perspective and an innovative, global outlook as well as a deep connection to our indigenous culture and heritage within the precinct."
International Towers was developed by Lendlease.
Bangarra has been a national partner in Lendlease’s Reconciliation Action Plan (RAP) for the last two years.
Bangarra has been based at Pier 4/5 at Walsh Bay since 1997, and the premises have been refitted numerous times to accommodate burgeoning staff and production needs.
Bangarra have just finished their sold out season of their acclaimed new work Bennelong at Sydney Opera House.
The company then tours to Canberra, Brisbane and Melbourne.
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