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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Sydney has emerged as the destination of choice for commercial property investors in the APAC region, as US$1.7 trillion capital waiting to be deployed in real estate globally this year, according to a new survey by CBRE.
Stronger economic growth, the availability of debt capital, and a more positive outlook from investors is expected to drive global capital flows in 2017, says CBRE Global Investor Intentions Survey 2017.
The survey reveals that investors have ample capital and a strong motivation to invest in real estate because of its relatively high income yield. North America is the preferred region for investors, with London, Los Angeles and Sydney the most popular cities in each of the major regions. Office is the most popular asset sector, with logistics up strongly in 2017 and a very close second.
The sum total of planned capital expenditure in real estate by investors is $1.7 trillion, it says. A majority of investors indicate that their buying activity will increase or remain the same compared to 2016. Those investors planning to spend more (40 percent) outweigh those planning to spend less (16 percent) by a margin, indicating a continuing positive attitude to real estate as an asset class.
There were nearly 2,000 respondents globally who participated in the survey, with investor types spread across fund/asset managers, insurers, pension and sovereign wealth funds, in addition to private investors such as real estate companies and developers.
Despite a volatile global political environment and key European elections set to take place in France and Germany, investors are relatively unconcerned about global or local politics. Investors’ main concerns are: an undefined ‘global economic shock’ (22 percent) and ‘faster than expected rises in interest rates’ (21 percent). The latter concern is felt much more strongly this year and is the biggest change from 2016.
“This time last year, investors were reeling from the volatility in world stock markets, now they are seeing equities reach record highs and economic sentiment is positive. Although there is uncertainty about the direction that economic policy will take, there is also a growing anticipation that changes will unlock growth,” said Chris Ludeman, global president, Capital Markets, CBRE.
“While there are some clouds on the horizon–emerging market debt looks problematic as does Greece’s financial situation–economic momentum, alongside the yield advantages of property as an asset class, should ensure another year of substantial capital flows into global real estate.” 
In last year’s survey, investors favoured core assets over secondary and value-added risk classes. That trend has partially reversed in 2017 with a fall in demand for core assets and an increased interest in core-plus and opportunistic assets. Nearly half of investors (48%) cite the high price of real estate as the main obstacle to deploying capital. This increased interest in core-plus and opportunistic reflects that issue, but it also shows that investors are slightly more ‘risk on’ than they were last year.
In the Americas, Los Angeles is the stand-out preference for investors. Dallas/Fort Worth has moved into second place. Washington, D.C. is the biggest mover, entering the top six at fourth position, having not featured last year. Atlanta moves up one place and Seattle is in sixth position, having not made the top tier last year.
Within EMEA, London remains the most attractive city for investors. Berlin has moved up two places to become the second most preferred destination. While there is some concern about European elections, so far this does not seem to have dampened appetite for real estate. The survey shows that, despite the uncertainty over Brexit, investors are increasingly interested in the UK.
In APAC, Sydney is once again the top destination, with Tokyo second by some distance. Australia’s cities remain highly popular with APAC investors because of their liquidity, transparency and positive long-term prospects. Seoul has dropped out of the top six and Hong Kong has moved in.
Office is the preferred sector for investors (26 percent), with multifamily (21 percent) and logistics (22 percent) also highly popular. The preference for retail has dropped sharply from last year (21percent to 12 percent). Americas-based investors have a strong preference for logistics and multifamily; two sectors that have performed extremely well this cycle due to changes in technology and demographics. EMEA and APAC investors have relatively more interest in the offices and retail sectors.
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jonathanchancellor-7SQnKwU6yx

Sydney, London and LA among top targets for commercial property investors: CBRE

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Construction in Sydney’s industrial sector is likely to reach pre-GFC levels over 2017 as retail habits change and and the entry of giants like Amazon being a potential game changer, according to a forecast by LJ Hooker.
Planned industrial construction across Sydney this year is set to rise 28% from 2016 to more than 720,000 square metres, says the firm's latest Industrial Market Monitor report.
The outlook represents continued confidence from developers who delivered 560,000 square metres of new stock in Sydney in 2016, a 25% increase on 2015.
Developers have been reinventing the industrial sector over the last five years to address the changing economy, said LJ Hooker’s head of commercial Christopher Mourd.
“We’ve seen somewhat of a new industrial revolution, especially through Sydney,” said Mourd.
Despite the rise in construction, rents were largely stable across the city last year, as net absorption offset the withdrawal of stock for residential repurposing, except in the city’s south where prime rents rose 9% to $161 per square metre due to a scarcity of stock.
Until 2020, rents are tipped to grow 5.5% on average across the city’s Outer, Inner-West and North industrial hubs, which finished 2016 with average rents of $113 per square metre, $133 per square metre and $168 per square metre, respectively. Rents in the city’s south, however, could grow at twice that rate over the period, says the report.
<a href="https://www.propertyobserver.com.au/images/2017/03/21/LJHOOKERSYD1.jpg" target="_blank">Click to open chart in new window</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/2017/03/21/LJHOOKERSYD1.jpg" alt="">
As an example of the boom, stage one of Charter Hall’s M5/M7 Prestons logistics park in Western Sydney became the latest distribution facility to be fully-committed ahead of completion.
Specialist FMCG distributor BAM Wine Logistics has committed to 10,300 square metres of logistics space in the park on a seven-year lease term. The lease, secured by LJ Hooker’s Marcel Elias, is for $1,163,900 net (excluding GST) equating to $113 per square metre.
<a href="https://www.propertyobserver.com.au/images/2017/03/21/SydneyLJHooker2.png" target="_blank">Click to open chart in new window</a>
 <img src="https://www.urban.com.au/images/2017/03/21/SydneyLJHooker2.png" alt="">
The wave of construction is also continuing in Victoria. Warehouse commitments from major operators including Woolworths, Target and The Reject Shop were set to maintain healthy construction levels.
Last year Melbourne attracted nearly $1 billion worth of development across 500,000 square metres. Nearly 100,000 square metres was commenced without a tenant pre-commitment.
In Brisbane, at the smaller end of the market, the lack of construction since the GFC has seen the large surplus of industrial units absorbed and the emergence of the first signs of pent-up demand.
“The retail sector has undergone a structural change in response to consumer habits, and that has reinvigorated the industrial market. Retailing has joined logistics in driving the change and developers have responded with a program of large warehouse developments focused on maximising efficiencies,” said Mourd.
“With the likes of Amazon planning a major foray into Australia, the industrial sector is attracting major developer activity.”
He said that LJ Hooker’s agents have reported strong levels of enquiry from private landowners looking to sell to developers to realise the capital growth in their assets, while existing landlords are seeking guidance on re-purposing. 
“In 2016, not a single speculative development within Western Sydney was completed prior to securing a commitment from a tenant which is unprecedented,” added Elias, who is director, LJ Hooker Commercial Silverwater.
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prateek24-ezbwHMbNAk

Sydney's industrial construction pipeline to hit pre-GFC levels in 2017: LJ Hooker

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Sydney continues to have the highest home value increases over the last 12 months, according to CoreLogic’s latest report.
The property data firm says that over the past 12 months Sydney’s home value has increased by 18.9 percent.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%201.04.45%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/2017/03/20/Screen%20Shot%202017-03-20%20at%201.04.45%20pm.jpg" alt="">
This is helped by a monthly 2.2% increase in home values although Melbourne has the highest with a monthly increase of 3.7%.
Melbourne is ranked second with a home value increase of 14.7% over last 12 months while Perth is the lowest with its home value decreasing by 3.4%.
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j.ballantyne1990-6AQqhLzZaK

Sydney surges to 18.9 percent annual price growth: CoreLogic

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Despite a classically miserable March day, Sydney recorded its strongest preliminary auction clearance rate of the year to date on Saturday, according to Domain, at above 82 percent. 
Even if the final clearance rate is revised down a bit, it's clearly a very high result on higher listings, with some big results in the inner suburbs. 
Two of the last four weekends have seen phenomenally high median auction prices, with this weekend's $1,355,000 a little below the record $1,420,000 set four weeks ago but 14 percent higher than a year ago.
On a rolling monthly basis auction prices hit their highest ever level on Saturday.
The Sydney market had clearly lost momentum in the face of macroprudential measures implemented in 2015, but was reinvigorated by two interest rate cuts in May and August 2016.
Melbournites returned from the break with a 78 per cent preliminary clearance rate according to Domain.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/A2-1.jpg" target="_blank">Click to enlarge</a>
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Sydney property market sell off 

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The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending February 2017 have increased in total value from the preceding quarter, according to CoreLogic’s Cityscope.
 
There were 92 sales recorded for the most recent quarter with a total value of $1.201 billion, as compared to 104 sales for a total of $1.004 billion for the quarter ending November 2016.
 
However it is lower than the quarter ending August 2016, which recorded a total value of $1,853 billion.
 
For the year ending February 2017, there were 385 sales recorded for a total of $6.176 billion, compared to 384 sales for a total of $8.385 billion for the year ending February 2016.
 
The table below shows sales recorded for the last eight updates of Sydney Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/03/5/Corelogic-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/5/Corelogic-1.jpeg" alt="">
Recent notable sales in Sydney include:
<ul>
<li>Sydney Cove AMP Building at 33 Alfred Street (above), a 26-floor offices and a theatrette plus parking with a net lettable area of 32,353 sqm, which sold for $445 million;</li>
<li>A 30-year ground lease interest in the Commonwealth Bank Place and Darling Quarter at 1 Harbour Street, two nine-storey commercial office buildings and a retail component on a site of 17,491 sqm, which sold for $192 million;</li>
<li>55 Clarence Street, a 22-storey office block with 14,962 sqm net lettable area with five floors of parking for 88 cars, which sold for $170 million through CBRE and Colliers International and</li>
<li>8 Spring Street, a 13-storey office retail building with two levels of basement parking for 21 cars, providing a net lettable area of 5,132 sqm, which sold for $69 million.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/03/5/Corelogic-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/5/Corelogic-2.jpeg" alt="">
Properties for sale in Sydney Cityscope in February 2017 include:
<ul>
<li>Telstra Plaza Building at 320 Pitt Street, a 32-storey office tower comprising 29 levels of office space with a net lettable area of 29,159 sqm, two foyer levels and ground floor retail space, for by expressions of interest closing 21 March 2017 through JLL;</li>
<li>59 Goulburn Street, a 28-level office building including three levels of parking for 126 cars, for sale by expressions of interest closing 23 March 2017 through JLL and Colliers International and</li>
<li>275 George Street, a 14-storey office and retail building with a net lettable area of 7,357 sqm, for sale through Colliers International.</li>
</ul>
Properties with space for lease in Sydney Cityscope in February 2017 include:
<ul>
<li>Chifley Tower at 2 Chifley Square, an office tower of 44 floors plus four basement parking levels for 390 cars, which has office space ranging from 150 sqm to 4,000 sqm available through Colliers International;</li>
<li>Jardine Lloyd Thompson House, 66 Clarence Street, a 13-level office building with a net lettable area of 6,660 sqm, which has office floors from level 7 to level 11 with space up to 4,260 sqm available through CBRE and Ray White Commercial Office Leasing;</li>
<li>The Challenger within the Hilton building at 259 Pitt Street, office space from levels 10 to 17 plus three levels of basement parking for 500 cars, which has space of up to 5,760 sqm available through Colliers International and</li>
<li>Telstra Plaza Building at 320 Pitt Street, a 32-storey office tower with a net lettable area of 29,159 sqm, which has space up to 5,087 sqm available through Colliers International.</li>
</ul>
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Sydney CBD commercial sales increases in past three months: Cityscope

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Sydney and Canberra houses sell in the quickest time across the capital cities, according to CoreLogic’s latest report.
The property data firm says that the average time for a house to be sold in Sydney is 26 days while a unit can expect to stay on the market for 25 days before being sold.
Canberra houses are also selling with a 26 typical day turnaround, but Canberra apartments are taking 42 days. 
<a href="https://www.propertyobserver.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2012.39.57%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/2017/03/13/Screen%20Shot%202017-03-13%20at%2012.39.57%20pm.jpg" alt="">
Melbourne has the second shortest time with only 28 days for houses and 29 days for units.
However Darwin has the longest time with a house averaging 108 days on the market while units can expect to stay for 121 days.
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Sydney and Canberra take least amount of time to sell: CoreLogic

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Mercer’s annual Quality of Living Survey has ranked Sydney 10th with Melbourne 16th.
The survey of 450 cities is a benchmark against New York to help organisations determine wages and conditions for their employees on overseas assignments.
A part of the survey concentrated on city infrastructure, Sydney making the top 10 followed by Perth (32), Melbourne (34) and Brisbane (37).
Lorraine Jennings, Mercer’s Global Mobility Practice Leader in Australia and New Zealand said Australian cities have been ranked amongst the best in the world due to our safety, culturally diverse, skilled local workforce and robust infrastructure which can be a key competitive advantage in trying to attract multinational companies, talent and foreign investments.
“The report provides a qualitative measure of living conditions around the world to enable organisations to apply relative incentives to motivate employees to accept foreign assignments, particularly in a compromised quality of living location," she said.
"The success factors for foreign assignments is attributed to ease of travel and communication, health considerations, the local political environment, personal safety and access to public services.
"Sydney’s strong endorsement on the City Infrastructure ranking was due to its high weighting under categories including variety of transport options, local and international connectivity and access to electricity and drinkable water which are essential needs of expatriates arriving in a new location on assignment.
"There is room for Australia to improve in the rankings though, with factors such as Melbourne’s traffic congestion and a nation-wide low score on availability of international flights and international schools contributing to perhaps lower-than-expected results."
Singapore led the charge in the city infrastructure ranking, followed by Frankfurt and Munich both in 2nd place. Baghdad (230) and Port au Prince (231) ranked last. 
<a href="https://www.propertyobserver.com.au/images/2017/03/14/Mercer_QualityofLiving_2017_030617_Global.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/14/Mercer_QualityofLiving_2017_030617_Global.jpeg" alt="">
Ilya Bonic, senior partner and president of Mercer’s Career business said economic instability, social unrest, and growing political upheaval all add to the complex challenge multinational companies face when analysing quality of living for their expatriate workforce.
<a href="https://www.propertyobserver.com.au/images/2017/03/14/Mercer_QualityofLiving_2017_030617_Infrastructure.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/14/Mercer_QualityofLiving_2017_030617_Infrastructure.jpeg" alt="">
"In uncertain times, organisations that plan to establish themselves and send staff to a new location should ensure they get a complete picture of the city, including its viability as a business location and its attractiveness to key talent,” he said..
New Zealand and Australia rank high in quality of living with Auckland (3), Sydney (10), Wellington (15), and Melbourne (16).
Only Sydney (8) makes the top ten when ranked for infrastructure in Oceania, with Perth (32), Melbourne (34), and Brisbane (37).
Singapore (25) remains the highest ranking city in the Asia-Pacific region, where there is great disparity in quality of living; Dushanbe (215) in Tajikistan ranks lowest.
In Southeast Asia, Kuala Lumpur (86) follows Singapore; other key cities include Bangkok (131), Manila (135), and Jakarta (143).
Five Japanese cities top the ranking for East Asia: Tokyo (47), Kobe (50), Yokohama (51), Osaka (60), and Nagoya (63).
Other notable cities in Asia include Hong Kong (71), Seoul (76), Taipei (85), Shanghai (102), and Beijing (119). There is also considerable regional variation in the city infrastructure ranking.
The highest-ranked city is Singapore (1), whereas Dhaka (214) is near the bottom of the list.
<a href="https://www.propertyobserver.com.au/images/2017/03/14/Mercer_QualityofLiving_2017_030617_Regional.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/14/Mercer_QualityofLiving_2017_030617_Regional.jpeg" alt="">
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Sydney places in top 10 in global Quality of Living Survey

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NSW Premier Gladys Berejiklian’s promise to tackle home ownership affordability is a welcome sign to first time buyers being pushed out of the market, according to HTW’s Month in Review: March 2017. 
The valuation firm says with just over 186,000 loans approved in NSW in 2016, the first home buyer formed a small market segment with almost 16,500 loans approved or less than 9 percent of the total mortgage pool.
First home owner grants have reduced as data from the Office of State Revenue shows that 9,391 grants worth $138 million were handed out in 2015/16 as opposed to the 32,574 grants worth $266 million paid in 2010/11, the report states.
“Sydney is widely considered the most expensive city within Australia and one of the most expensive to rent when compared with other states and territory capitals, making for a tough path to home ownership,” HTW says.
“Furthermore, it appears that NSW is the equal lowest for first home owner grants when compared to other states:
<ul>
<li>QLD – $20,000 for new builds valued up to $750,000</li>
<li>SA – $15,000 for new builds only, valued up to $750,000</li>
<li>WA – $15,000 for new builds, valued up to either $750,000 or $1,000,000 (depending on the location).</li>
<li>VIC – $10,000 for new builds only, valued up to $750,000</li>
<li>NSW – $10,000 for new builds only, valued up to $750,000</li>
</ul>
“Typical first home buyers may consider purchasing off-the-plan as it allows them to save money while the property is under construction which can typically take between two to three years.
“This has been a strategy adopted by many in the Sydney market hoping to achieve capital appreciation during the course of construction and ‘lock in’ a lower purchase price compared to the ‘on completion’ or settlement price.”
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Sydney first home buyers turning to off-the-plan: HTW

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A prime retail investment at Sydney has been sold.
Located at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502188122" target="_blank">66 Druitt Street</a>, the freehold multi-level mix use building has high pedestrian traffic.
It is suitable for a variety of uses and is currently vacant with a lettable area of 216 sqm.
Situated in the heart of the CBD it is within walking distance to Queen Victoria Building, Town Hall, Pitt Street mall and Chinatown.
The property was offered through Colliers International agents Steam Leung, Jordan Lee and Harrison George.
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Prime Sydney retail investment sold

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Hotel owner and operator InterContinental Hotels Group and Linzhu (Australia) Pty Ltd have signed an agreement to open a new Holiday Inn brand hotel in the Sydney CBD by 2020.
The Holiday Inn Sydney Central at the 430 Pitt Street development will comprise 305 rooms, a restaurant, terrace bar and a 120-seat meeting space, according to a media release.
The hotel will be part of a mixed-use development that will have a 17-storey tower with a sloping roof, “green waterfalls”, a 1,000 sqm private art gallery and a retail concourse.
<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/2017/03/09/Holiday%20Inn%20Sydney%20Central%203.jpg" alt="">
 
<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/2017/03/09/Holiday%20Inn%20Sydney%20Central.jpg" alt="">
“The property will be a jewel in the Sydney CBD landscape with its unique wedge-shaped design and green flowing rooftops,” said Jing Wen Lin, director at property firm Linzhu.
Karin Sheppard, chief operating officer at IHG added, “The Holiday Inn brand has been a story of success for IHG in Australia, so we are excited to be building on our portfolio that already includes six Holiday Inn hotels in Sydney.”
The first Holiday Inn globally opened its doors in 1952 and today the Holiday Inn Brand Family is the largest hotel brand in the world, with the largest development pipeline, said the media release.
The first property in Australasia was the Holiday Inn City Centre Perth, which opened on March 2, 1998.
IHG currently has 26 hotels operating under four brands in Australia: InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express.
 
<img src="https://www.urban.com.au/images/2017/03/09/IHG%20%20Linzhu%20Signing%201.JPG" alt="">
 
<img src="https://www.urban.com.au/images/2017/03/09/IHG%20%20Linzhu%20Signing%202.JPG" alt="">
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