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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

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

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

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

WM Residences fills gap in Mordialloc townhouse market

Sydney

<html><body>
Sydney’s booming property market may be finally taking a breather from the scorching pace it has grown over the last few years.
The clearest indication comes from a slowdown in suburbs that were once hotbeds of investor activity. 
Although property prices continue to grow across the Harbour City, the rate of growth is slowing most significantly in the west and south-west regions, Domain News reported citing new data.
AMP Capital chief economist Shane Oliver said slowing growth in these regions was “a canary in the coal mine in the sense [APRA] measures and a supply surge is starting to bite”.
“We saw this back in 2005, the west and south-west declines followed through to the inner west,” Dr Oliver said.
“And then it starts to show up in the north and east.
Clearance rates are also starting to slow, with a 67.1 percent rate over the Queen’s Birthday long weekend, a sign that the boom may be coming to an end.  
“The debate now is whether prices will fall or whether there is a deceleration this year with price falls next year,” Oliver was cited as saying by Domain.
Growth in asking prices – an indicator of price growth in the real time private treaty market – has started to slow in recent months. In the year to May 2017, asking prices in the south-west were up 2.3 percent, compared to the 11.9 percent growth experienced the year before.
This was the slowest annual growth since the boom began.
The western suburbs saw a similar pattern too, with 5.7 percent growth to May 2017 compared to 12.3 percent the year before. 
In these areas there is now a “rush to market”, Domain Group chief economist Andrew Wilson noted.
In the west and south-west regions, the number of auctions rose 50 percent and 75 percent respectively in May 2017 compared to a year before. 
“We typically see more sellers at the end of a boom,” Dr Wilson said.
But this has yet to be felt in other areas, where asking prices grew more than 8 per cent, with four areas in double figures.
In the inner west, growth was 11.9 percent over the year to May 2017.
Sydney’s rental yields are now the lowest in the country, at 3.31 percent for houses and 3.99 percent for apartments. This compares to a national average 4.42 percent for houses and 5.01 percent for apartments.
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney's once-booming suburbs show a slight stutter

<html><body>
Property NSW today called for Expressions of Interest from the private sector to provide integrated property management services at NSW Government-owned property holdings in key Sydney Harbour precincts including The Rocks and Darling Harbour.
CEO of Property NSW, Brett Newman, said an outsourced, integrated contract to manage the property portfolio would deliver better value for the NSW Government and taxpayers.
“Engaging a private-sector service provider will deliver greater transparency, value and accountability across the property portfolio,” Mr Newman said.
“The private sector has a proven track record of delivering these services and we look forward to receiving proposals from the industry’s best operators.”
A core requirement of the new contract will be the provision of a best-practice technology platform, which will give Property NSW greater access to detailed data collection to help improve how the properties are managed and used.
The initial term of the contract is four years.
The heritage values of properties in the portfolio will not be compromised.
The move to a more efficient, integrated property asset management framework aligns with the principles of the Property Asset Utilisation Taskforce report in 2012.
The tender process will be conducted in line with NSW Government probity and procurement requirements.
The Expressions of Interest period will close in late June 2017 and be followed by a Request for Proposal from selected shortlisted parties. A preferred tenderer is expected to be identified in late 2017.
The tender documents are available <a href="https://tenders.nsw.gov.au/?event=public.rft.show&amp;RFTUUID=D6738E61-E6F2-8468-ACD7B8DC6D8A3E73" target="_blank">here</a>. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

EOI for property management services at key Sydney Harbour precincts

<html><body>
Sydney has the second biggest increase in the number of total listings in 12 months, according to CoreLogic’s latest report.
The property data firm says that Sydney’s total listings have risen by 7% to 21,719.
Canberra takes top spot with a rise of 8% while Adelaide takes third spot with an increase of 2.7%.
<a href="https://www.propertyobserver.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%202.01.24%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/2017/06/19/Screen%20Shot%202017-06-19%20at%202.01.24%20pm.jpg" alt="">
For new listings - over the past four weeks - Canberra still takes top spot with a 7.6% increase while Sydney and Melbourne have a rise of 5% with Darwin trailing behind with 3.5%.
A three bedroom duplex at <a href="https://www.realestate.com.au/property-duplex+semi+detached-nsw-cranebrook-125740342" target="_blank">1/42 Goldmark Crescent</a>, Cranebrook (above) has just been listed for between $499,000 to $539,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-glenwood-125740350" target="_blank">4 Arrowsmith Street</a>, Glenwood (below) has just been listed on the market.
<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/2017/06/19/4%20Arrowsmith%20Street.jpg" alt="">
</body></html>

Sydney takes second place for increase in total listings: CoreLogic

<html><body>
Japanese beauty and retail group AUBE is opening its first Australian store in Sydney, bringing its unique brand of Japanese style and hospitality.
AUBE has secured a 75 sqm retail space on the ground floor of 28 Market Street, Sydney, the heritage building between Clarence Street and Kent Street.
The property was leased off market by Ray White Commercial South Sydney’s John Skufris on behalf of Samka Pty Limited.
The tenant was represented by Tamaki Terada from Starts International.
The lease term is five years and the commencing gross rental is $100,000 per annum.
"The property offers excellent pedestrian traffic between Queen Victoria Building to Cockle Bay where many Sydneysiders have commuted this month for Vivid,” Mr Skufris said.
AUBE Hair group operates 110 beauty hair salons in Japan as well as many overseas, offering its customers the latest equipment, treatments and state-of-the-art techniques.
</body></html>

AUBE opens first Australian salon

<html><body>
A waterfront boat shed in Sydney’s southern suburb of Burraneer has been put up for sale for $350,000.
The <a href="https://www.realestate.com.au/property-residential+land-nsw-burraneer-201806086" target="_blank">2C Hazel Place</a> property at Gunnamatta Bay is a heritage-listed boat shed.
Its dimensions are about 3 m x 3 m with its own sandy beach and is ideal for dinghy storage/Jetski storage/BBQ etc, says the advertisement.
The property has a frontage of 5 metres.
It has been listed through For Sale By Owner, a website where owners can sell their properties on their own.
It last changed hands for $80,000 in 1998, according to RP Data.
</body></html>

Waterfront boat shed in Sydney's Burraneer listed for $350,000 

<html><body>
Crown Group is anticipating a strong sales result when its latest project Waterfall by Crown Group is launched tomorrow, June 17.
Marketed as Sydney’s most natural address, the $400-million Waterfall by Crown Group features 331 apartments including studios, one, two and three-bedroom apartments as well as courtyard apartments and double-storey penthouses.
“We’ve been inundated with hundreds of people visiting our Waterfall display suite in the past five days in the lead up to the sales launch this Saturday,” said Crown Group Chairman and CEO, Iwan Sunito.
“This development has captured worldwide attention with its revolutionary use of natural elements, water and green space.
“There is a strong demand for quality developments from developers with a strong track-record in Sydney,” Mr Sunito said.
More than 2000 people attended the star-studded Waterfall by Crown Group Unveiling event last month.
Located at 18 O’dea Avenue Waterloo, Waterfall by Crown Group is designed by architects SJB.
It will comprise three seven-storey buildings and an iconic 20-storey sculptural tower overlooking lush, tropical landscaping.
<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/2017/06/15/W18_Waterfall_Final%202000_LR.jpg" alt="">
Public art is a key element of Waterfall: Mika Utzon Popov, grandson of Sydney Opera House architect Jørn Utzon, is creating a large-scale artwork integrated in the design.
Residents will also enjoy a state-of-the-art cantilevered gym, a rooftop garden, a rooftop cinema, function room with a catering kitchen, music room, and onsite retail.
Crown Group sold more than 80 per cent of apartments in one day at the launch of its most recent project Infinity by Crown Group in Green Square.
Construction of Waterfall by Crown Group is scheduled to be completed in 2020.
<a href="https://www.waterfallbycrowngroup.com.au" target="_blank">www.waterfallbycrowngroup.com.au</a> apartments are available from $650 000 onwards.
</body></html>

Waterloo's Waterfall by Crown Group launching this weekend

<html><body>
Plans to build a new public skate park in Sydney Park are scheduled to be considered by City of Sydney Council late June.
Features will include include a combination of street and bowl obstacles, a 'lineal plaza zone' for technical tricks, a beginners bowl for new skaters and a flow bowl varying in depth from 1.5 to 3 metres
Lord Mayor Clover Moore said the proposed skate space marks another major step in the transformation of Sydney Park from an industrial site some years ago, into a 44 hectare park land to be enjoyed by tens of thousands of residents. 
“We’ve listened to calls from the city’s skateboarding community who’ve been asking for more skate facilities for some time. 
“Not only are we building a new skate space in Sydney Park, we’re including the flow bowl straightaway rather than building it in a few years as originally planned. This is a result of extensive feedback we received when consulting with our communities.
“With more than 2,000 skateboarders living in our area, and around 56,000 skateboarders living within 20 kilometres of Sydney Park – we know this skate park will be extremely popular from day one.
“The park will link with the new children’s bike track and gymkhana covered area, allowing children to progress into the skate space as they grow up. 
“As part of the works, we’ve also proposed a new pathway system to provide the missing link to the southern area of the park.”
Cameron Sparkes, from the Sydney Skateboard Association, said the concept designs for this park are amazing and it looks like it could be one of the better public skate spaces in Sydney.
“We want to see more public skate parks and shared spaces in the City of Sydney and this is a great start," he said.
“Our community is rapidly growing. Skateboarding is debuting as an Olympic sport in Tokyo for the 2020 games and we’ve already seen a huge increase in participation rates since that announcement in early 2016.
“Our community’s demographic is extremely broad. All year round you can find boys and girls as young as six at skate parks, right through to people aged over 50."
If approved, construction of the skate space is scheduled to begin in April 2018 and be completed by mid-2019. 
</body></html>

New skate space proposed for Sydney Park

<html><body>
Sydney CBD commercial property sales have decreased compared to the previous quarter, according to property data firm CoreLogic's latest Cityscope.
The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending May 2017 have decreased in total value from the preceding quarter.
There were 73 sales recorded for the most recent quarter with a total value of $796.7 million, as compared to 93 sales for a total of $1.213 billion for the quarter ending February 2017 and the 104 sales for a total of $1.004 billion for the quarter ending November 2016.
For the year ending May 2017, there were 359 sales recorded for a total of $4.867 billion, compared to 382 sales for a total of $8.714 billion for the year ending May 2016.
The table below shows sales recorded for the last eight updates of Sydney Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Chart-3.jpeg" target="_blank" style="font-size: 12.16px;">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/09/Chart-3.jpeg" alt="">
Recent notable sales in Sydney include:
<ul>
<li>Exchange Centre at 20 Bridge Street, Sydney, also referred to as the ASX Building, a 16-level commercial building with two levels of basement parking for 34 cars, providing total building area of 20,328 sqm, which sold for $340 million in a deal handled by Savills;</li>
<li>59 Goulburn Street, Sydney, formerly known as Sydney Plaza, a 28-level 19,721 sqm office building with retail space on ground floor and three levels of parking for 126 cars, which is contracted to sell for $158 million and</li>
<li>Dudley House at 468-472 George Street, Sydney, a six-storey office building plus basement with a net lettable office area of 788 sqm, together with the next door property at 458-466 George Street, a 2-storey building with four shops at street level, which sold for $116 million through Knight Frank.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Chart-3.1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/09/Chart-3.1.jpeg" alt="">
Properties for sale in Sydney Cityscope in May 2017 include:
<ul>
<li>A half share in the MLC Centre at 19 Martin Place, a 67-level office and retail complex including the office section, 90 shops, a tavern and the Theatre Royal, providing 67,900 sqm of office space and 5,200 sqm retail area plus 297 car parking spaces, which is for sale by expressions of interest closing 6 June 2017 through Savills and JLL Sydney;</li>
<li>The developable airspace above the Clarence Street entrance to Wynyard Walk at 26-38 Clarence Street, a five-storey structure with three levels below ground and two levels above ground on a site of about 725 sqm, zoned B8 Metropolitan, which is for sale by expressions of interest closing 29 June 2017 through CI Australia Sydney; and</li>
<li>Level 1 at 352 Kent Street, whole level one of 184 sqm office space in an eight-storey office building, is for sale by auction on 6 June 2017 through Noonan Property.</li>
</ul>
Properties with space for lease in Sydney Cityscope in May 2017 include:
<ul>
<li>AON Tower at 201 Kent Street, a 34-level tower, including a retail plaza at ground level, four levels of basement parking and three plant levels with a net lettable area of 40,176 sqm, which has office space from 210 to 7,200 sqm available through Colliers International;</li>
<li>The ACE Building at 28 O’Connell Street, a 15-storey building with two basement levels for 35 cars, which has office space from 115 to 4,000 sqm available through Ray White Commercial Office Leasing and Cushman &amp; Wakefield;</li>
<li>201 Elizabeth Street, a 42-storey building with Foodbase on the lower ground floor, a two-storey annexe and two levels of basement parking for 175 cars, which has office space from 184 to 4,923 sqm available through Colliers International; and</li>
<li>9 Hunter Street, a 21-level office building plus a single-level gymnasium and sports centre, which has office space from 945 to 3,794 sqm available through Knight Frank and Colliers International.</li>
</ul>
</body></html>

Sydney CBD commercial properties sales decline: Cityscope

<html><body>
The number of new dwellings financed remained at a historically high level in April, but was slightly lower than in the preceding month.
Analysts are watching closely for signals of this construction cycle rolling over in a disorderly fashion, but up until April at least purchase activity had remained relatively robust. 
<a href="https://www.propertyobserver.com.au/images/2017/06/09/A1.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/2017/06/09/A1.jpg" alt="">
At the state level owner-occupier financing of new builds is tracking at historically high levels in all three of the most populous states. 
<a href="https://www.propertyobserver.com.au/images/2017/06/09/A2.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/2017/06/09/A2.jpg" alt="">
First homebuyers to recede
The number of first homebuyers has been sliding in recent years, following on from a huge spike during the financial crisis when a raft of incentives and grants were introduced.  
Some first time buyers have been opting to buy investment properties instead in recent times, particularly in expensive Sydney, in turn depressing the number of first homebuyers recorded. 
<a href="https://www.propertyobserver.com.au/images/2017/06/09/A3.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/2017/06/09/A3.jpg" alt="">
The annual number of first homebuyers has also fallen by 29 per cent in Western Australia since October 2013, with the Perth market seeing very subdued sentiment since that time. 
First homebuyer activity is likely to drop off between now and July 1, when new grants and stamp duty exemptions are set to be introduced in the states of New South Wales and Victoria. 
<a href="https://www.propertyobserver.com.au/images/2017/06/09/A4.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/2017/06/09/A4.jpg" alt="">
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
 
</body></html>

pwargent-M4siyDbqQY

NSW first homebuyers to dwindle until July: Pete Wargent

<html><body>
Sydney-based developer Poly Australia is taking cheaper apartments under $800,000 off the market to offer them to first-home buyers as it expects a rush of foreign investors to snap up apartments before July 1 tax increases.
The developer has earmarked 23 cheaper apartments at its project in Poly Horizon in Sydney’s Epping for first-home buyers when they are re-released in July, according to The Australian Financial Review.
The NSW government recently decided to scrap stamp duty for properties up to $650,000 in a move to improve housing affordability.
The policy, which will apply to new and existing homes, will start from July 1. Homes up to $800,000 will also see a discounted stamp duty.
At the same time, foreign investors are facing the heat with the state government deciding to double its stamp duty surcharge to 8 percent and increase the annual land tax surcharge on foreign home owners to 2 percent from the existing 0.75 percent.
The new rules could, however, see foreign buyers rushing to buy apartments before the policies take effect, Poly said.
"We believe we will see a rush of foreign buyers securing property in the Sydney market in the next month as a result of the increase in stamp duty fees," Poly Australia sales and marketing director Jay Carter was quoted as saying by the AFR.
"Our objective is to ensure that first home buyers don't miss out because of this influx. We want to give first home buyers every opportunity to take advantage of the new stamp duty discounts."
Poly Horizon will be the largest development in Epping, consisting of 501 apartments across three towers with prices starting from $437,000 for an executive apartment.  
It recorded the sale of more than 80 percent apartments in its first release last year.
Stockland also supported the government's moves to improve affordability.
"Housing affordability is a critical issue in Sydney and Stockland welcomes the NSW government's comprehensive plan to address this challenge by unlocking supply, increasing stamp duty concessions for first homebuyers, and investing in vital local infrastructure," Stockland residential chief executive Andrew Whitson said.
Stockland launched its own affordability initiative in April, prioritising 50 percent of land releases and townhomes to first home buyers at its three major masterplanned communities in Sydney.
</body></html>

Sydney

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Sydney

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News