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’s house prices could experience a correction starting in the second half of 2017 after years of growth, according to a leading economic forecaster. 
House prices will drop by 5 percent in two years starting later this year, said BIS Oxford Economics managing director Robert Mellor said at the Building Industry Prospects conference in Sydney, according to a post on domain.com.au.
The forecasting firm was formed recently after Oxford Economics acquired BIS Shrapnel and the name was changed to BIS Oxford Economics.
Sydney has enjoyed a four-year property boom, during which the median house price has climbed to more than $1 million.
“Given that price growth over the last 12 months has been much greater than we would have anticipated six or 12 months ago we now expect price declines probably between 2017 and 2019 somewhere in the order of 5 percent in the detached housing market in Sydney,” he said.
Apartment prices are likely to see an even bigger correction, according to the forecaster.
The median house price was likely to peak “at $1.2 million” by mid-2017 before falling, he said. These price declines are more substantial than those predicted mid-2016 by the firm.
But even if prices fall by $60,000 to $70,000, they would still be “above where they were six months ago”, he said.
“By June this year [house prices] will be up 80 percent since June 2012.”
The apartment market, however, is likely to drop by much higher levels.
Mellor anticipated that those who paid “high prices off-the-plan” might see price declines of 10 percent or higher.
These falls in prices would also be likely in the Brisbane and Melbourne apartment markets, where prices could “easily” drop 10 percent in the next two to three years.
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Sydney house prices to drop by 5 percent in two years: BIS Oxford Economics

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Construction of the $21 million residential development Lunar, 28 km south of Sydney, is slated to begin mid 2017.
If will feature 64 apartments, a basement carpark and a communal landscaped garden.
Ben Pomroy from Rothelowman says that the design for the new development was derived as a response to these natural surroundings and a desire to optimise the apartments’ long-distance views.
“Lunar sits on one of the highest points in the Sutherland Shire, with views north to the CBD and Botany Bay, our scheme had to take advantage of these opportunities, whilst developing a design that addressed and was respectful to the public domain,” he said.
“Our desire was to create a building that embraces the shire’s outdoor lifestyle with apartments that have both front and back yards..
“A place where residents could embrace the views to the north and the east, whilst also giving opportunity for interaction with the street.”
“Capitalising on the area’s temperate climate, the breezeway elevates the traditional corridor to a space where residents can socialise with their neighbours in a pleasant open-air setting.
“Liveability was a significant consideration in the evolution of Lunar’s design and the breezeway supports that.
"We have strived to create a building with the greatest possible access to daylight and fostered natural ventilation that is created with the layouts.”
 
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mick.cee-iDmgDDAmu8

Unique breezeway design for Sydney's Lunar

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The Sydney CBD is getting what has been described as the city's most luxurious apartment building.
ONE30 Hyde Park still a handful of two-bedroom apartments remaining from $2.2 million.
These 101 to 107sqm apartments face north to across Hyde Park.
There is also a selection of one-bedroom apartments (66sqm and 67sqm) still available from $1.29 million.
The 38-level development at 130 Elizabeth Street and the Liverpool Street corner will also look south to as far as Sydney Airport.
ONE30 Hyde Park is a joint venture between the Chinese-based Aoyuan Property Group and Ecove, a local company that transformed Sydney Olympic Park into a fully functioning residential suburb.
Work on the project has been underway for more than a year. Demolition of the old building was completed last June, and excavation is now in full swing with the building expected to top-out by early-2018. Full fit-out and completion will take a further 12 months from then.
As part of the development, Aoyuan and Ecove are creating a prestigious entry to Museum Railway Station, which is on their site.
“Prices of prime CBD apartments in Sydney continue to rise due to the many attractions of living in the heart of one of the world's most attractive cities,” said Sue Ballesty, marketing director of Ecove.
“Properties such as this tend to appreciate in value more quickly than average because of their scarcity.
“Overseas investors, in particular, appreciate that ONE30 Hyde Park represents excellent value for money on an international scale.”
Ecove sales director, Louie Bechara, said the ONE30 Hyde Park has been designed by Bates Smart to tap into a demand for the highest levels of luxury.
ONE30 Hyde Park is being sold through Ecove visit: <a href="https://www.one30hydepark.com.au/" target="_blank">www.one30hydepark.com.au</a>
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j.ballantyne1990-6AQqhLzZaK

Sydney's ONE30 Hyde Park offers $2.2 million two bedroom apartments OTP

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Tom Dixon’s London-based design firm Design Research Studio has been named the winner of AMP Capital’s interior design competition for the lobby and connected facilities of Quay Quarter Tower.
Four design firms were invited to participate in the two-month long competition, but Design Research Studio stood out for their reputation, design aesthetic and aspirational concepts, said AMP Capital’s chief operating officer real estate, Louise Mason.
“We used this competition to specifically seek out globally pre-eminent designers of lifestyle spaces such as hotels, clubs, restaurants, bars and co-working spaces, who can bring a completely different perspective to how we would normally view, and therefore design, a commercial lobby,” Mason said.
Dixon’s recent work includes the interiors for Mondrian London Hotel, Shoreditch House, Bronte Restaurant on the Strand in London's West End and McCann Worldwide Headquarters in New York.
The firm is also known for their design of the lighting installations for Bennelong restaurant at Circular Quay, Sydney.
3XN were appointed as the lead design architects for the 49-floor tower at 50 Bridge Street, Sydney last year.
The Quay Quarter Sydney precinct will span two inner city blocks over a site area of around 11,000 square metres and incorporates a mix of commercial, retail and luxury residential.
“The QQT lobby will be both the statement address for the tower and the nexus between the activated streetscape of Quay Quarter, the retail marketplace offering and the tower above,” Mason said.
“Together the lobby, retail podium and tower will provide a series of connected spaces that meet a range of user needs.
“Quay Quarter Tower will be an attractor of key talent into the future and provide a vibrant marketplace of experiences where people will have more opportunities to choose how and where they work and interact with their colleagues and customers.”
50 Bridge Street is jointly owned by investors in the AMP Capital Diversified Property Fund (ADPF) and the AMP Capital Wholesale Office Fund (AWOF).
Subject to final investor approvals, construction is expected to commence in 2018 and will take approximately three years to complete.
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Tom Dixon to design AMP Capital's Quay Quarter Tower lobby

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The latest results take the current housing growth cycle into its 58th month, according to CoreLogic’s latest report.
The property data firm says that since capital city dwelling values started to rise in June 2012, dwelling values have increased by a cumulative 47.3 percent, ranging from a 74.9 percent capital gain in Sydney, to a net rise of 6.0 percent in Perth.
<a href="https://www.propertyobserver.com.au/images/2017/03/1/Screen%20Shot%202017-03-01%20at%2010.17.14%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/2017/03/1/Screen%20Shot%202017-03-01%20at%2010.17.14%20am.jpg" alt="">
Sydney, and to a lesser extent, Melbourne, have remained at the top of the capital gain tables over the past two cycles.
Since the beginning of 2009, Sydney dwelling values have more than doubled, rising by 104.5 percent while Melbourne values are 87.7 percent higher.
The next best performing capital city over the same period was Canberra where dwelling values have risen by a comparatively modest 37.4 percent.
Mr Lawless said the strong growth conditions across Sydney have provided a substantial wealth boost for home owners, "however, the flipside is that housing costs are becoming increasingly out of reach.
"This is especially true for price-sensitive segments of the market such as first time buyers and low income families.”
“Affordability challenges are most pronounced across the Sydney housing market where, based on September 2016 data, dwelling prices are almost 8.5 times higher than gross household incomes.
The second most expensive capital city, Melbourne, has a dwelling price to income ratio of 7.1.”
In contrast, the February results show that the cities with greater exposure to the mining downturn have continued to record weak housing market results.
<a href="https://www.propertyobserver.com.au/images/2017/03/1/Screen%20Shot%202017-03-01%20at%2010.17.23%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/2017/03/1/Screen%20Shot%202017-03-01%20at%2010.17.23%20am.jpg" alt="">
Dwelling values slipped lower in Perth and Darwin over the month, taking the cumulative decline in values since these markets peaked in 2014 to 10.0 percent and 11.5 percent respectively.
Brisbane also recorded a fall in dwelling values over the month, however values have been slowly trending higher despite the negative monthly result.
As a consequence, housing affordability has shown a marked improvement in these regions, with the dwelling price to income ratio tracking at 5.7 in Brisbane, 5.5 in Perth and 4.5 in Darwin based on September 2016 data.
While dwelling values continued to rise, weekly rents remained comparatively soft. As a result, downward pressure has been placed on rental yields.
The average dwelling yield across the combined capital cities fell to 3.2 percent over the month, which is a new record low.
Five years ago, the average capital city yield was a full percentage point higher at 4.2 percent.
Sydney has shown the most significant compression in rental yields over the past five years, with the average gross yield reducing by 150 basis points to reach 2.9 percent (2.7 percent for houses and 3.7 percent for units).
Mr Lawless said despite the record low rental yields on offer, investor demand remains high, suggesting investors are likely to be relying on a negative gearing strategy to compensate for their cash flow losses.
"It also indicates that investors are speculating on future capital gains.”
<a href="https://www.propertyobserver.com.au/images/2017/03/1/Screen%20Shot%202017-03-01%20at%2010.17.32%20am.jpg" target="_blank">Click to enlarge</a>
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“The latest housing finance data from the Australian Bureau of Statistics indicates that investors comprise approximately 57 percent of new mortgage demand across New South Wales (excluding refinanced loans).
This is substantially higher than the long run average, which is slightly above one third.”
Commenting overall on the February results, Mr Lawless said, “The renewed strength in the housing market is corroborated by a range of other data points such as auction results, low advertised stock levels and rapid selling times.”
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Investors speculating growth will continue as Sydney hits 104 percent spike since GFC: CoreLogic

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Sydney's Verandah hotel in Martin Place has been sold for over $9 million.
The hotel is at 60 Castlereagh St and fronts both Castlereagh and Elizabeth Sts.
It sold through Andrew Jolliffe of Ray White's Asia Pacific Hotels. 
<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/2017/02/28/022_Open2view_ID448707-55-65_Elizabet_Street.jpg" alt="">
 He is also selling on behalf of the same vendors John Singleton, Geoff Dixon and Mark Carnegie of The Australian Pub Fund (APF), the Marlborough Hotel in Newtown and Kinselas in Sydney's Eastern Suburbs.
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Sydney's Martin Place hotel, Verandah, sold

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Sydney already has the annual increase in home value, according to CoreLogic’s latest report.
Now with preliminary CoreLogic February 2017 Home Value Index results, the head of research Asia Pacific, Tim Lawless has noted that further evidence supporting a strong start to the 2017 housing markets.
 “The February results will confirm that housing market conditions remain very strong in Sydney and Melbourne, while Brisbane and Adelaide have also see values rise and Perth dwelling values have slipped lower. 
"Based on preliminary results, the CoreLogic daily home value index has recorded a 1.1 percent rise in dwelling values across the five city aggregate index over the first 27 days of the month, with Sydney continuing to stand out with the highest capital gain. 
The month to date data for Sydney is showing a 2.6 percent to 2.7 percent surge in dwelling values for February, with Melbourne posting a 0.5 percent to 0.7 percent gain over the month, based on the preliminary figures.
"The strong capital gain conditions are likely to push the annual growth rate for Sydney close to the cyclical high of 18.4% which was recorded over the twelve month period ending July 2015,” Tim Lawless. 
The property data firm says that over the past 12 months Sydney’s home value has increased by around 18.2 percent.
The final February result will be released tomorrow.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.39.41%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/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.39.41%20pm.jpg" alt="">
This is in contrast to Perth’s home value which has declined by 3.8 percent over the past 12 months.
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Sydney home values surge to 18 percent annual growth in February 2017: CoreLogic

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The Inner West region of Sydney takes the top spot with the highest auction success rate, according to CoreLogic’s latest report.
The property data firm says that out of the 61 auctions known to CoreLogic 90.2% were sold.
This is followed by Ryde with 88.2% and the Eastern Suburbs with 87.2%.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.31.09%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/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.31.09%20am.jpg" alt="">
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-cabarita-124624642" target="_blank">111 Cabarita Road</a>, Cabarita (above) was sold for $3,300,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-balmain-124601978" target="_blank">20 North Street</a>, Balmain (below) was sold for $3,020,000.
<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/2017/02/27/20%20North%20Street.jpg" alt="">
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Sydney's Inner West weekend auction clearance rate tops 90%: CoreLogic

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The Hills of Carmel, a 2,000 lot sub-division spread across 223 hectares in Sydney’s North West, has had its buyer registration period brought forward by four months to meet demand for prompt settlement.
Registration is the formal process of lodging the individual lots with the land titles office, allowing the final settlement of property to take place.
As a result, more than 100 lots will be settled by the end of this month with home building not far behind.
The Hills of Carmel is a new land release located in the recently rezoned suburb of Box Hill, between Rouse Hill and McGraths Hill, close to major retail centres, national parkland, sporting facilities and idyllic Hawkesbury River fishing and boating.
Almost 300 housing lots have been sold to home buyers since the $1.3 billion Hills Shire site launched in May 2016, with a further 300-400 lots flagged for release later this year.
The earlier-than-expected registration process follows unseasonably high demand over the Christmas period, according to Hills of Carmel Property Development Consultant Bob Welsh.
“Land is getting snapped up fast; we are opening up new lots sooner than anticipated. Given the community will offer schools, shopping centres, proximity to new transport links and beautiful aspects, we knew going into this it would be popular, but perhaps even we underestimated the sheer scale of Sydney’s housing affordability crisis,” he said.
Mr Welsh said residents are expected to move into the first of the community’s homes by mid-2017.
Australia’s biggest and most established display home organisation, Homeworld, will also be joining the neighbourhood, with plans to construct a 108-lot display village on site.
“In line with the heavy consumer demand for affordable lots, as described by the Department of Planning, we will continue to make available both small detached dwelling lots and larger lots ranging in size from 300m2 to 870m2,” Mr Welsh said.
Jamie and Shirley Millar, currently of East Kurrajong, will be among the first residents to settle in coming weeks.
Mr Millar said this will be his family’s second build.
“We are really excited about the opportunity to build in The Hills of Carmel and to be a founding part of Sydney's newest suburb,” he said.
“We are relocating to downsize and be closer to modern facilities for our three children.
The semi-rural aspect, as well as the North West Rail Link are key factors in our decision to move here.”
The Department of Planning expects the new suburb of Box Hill to eventually comprise 9,600 dwellings and a population of more than 28,000 people.
The Hills of Carmel development will create thousands of new jobs and inject an estimated $700 Million into the local economy.
For more information on The Hills of Carmel, visit <a href="https://www.thehillsofcarmel.com.au/">www.TheHillsofCarmel.com.au</a>.
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First ‘Hills of Carmel’ homes on horizon as North West development demand hits fever pitch

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Sydney’s inner east is expected to see robust demand for commercial assets in 2017 after almost $370 million worth of sales last year, says a report from Ray White Commercial.
There were more than 150 commercial sales in the inner east in 2016 with Surry Hills accounting for 45 per cent of the deals, according to Samuel Hadgelias of Ray White Commercial NSW.
“The inner east market (which includes Surry Hills, Redfern, Darlinghurst and Woolloomooloo) offers a wide array of investments at varying price points,” Hadgelias said in Between the Lines – Inner East Sydney Commercial Report February 2017.
Being close to the Sydney CBD, demand is strong from both smaller investors interested in retail or office suite holdings together with larger investors and developers looking for office buildings, larger retail holdings and possible development sites, the report said.
This demand is unlikely to subside into 2017 given the low interest rate environment and appetite for quality, well located assets which will result in further expansion of the capital value range achieved and continued lows in investment yields.
With access and cost of financing still reasonably low coupled with increased demand for stable investments for private investors.
Retail assets have generated yields as low as 4 per cent across the inner east while office assets can range anywhere between 5.5 per cent and 7 per cent, he said.
Hadgelias said capital values across the markets vary considerably depending on the type, quality, location, size and lease covenant of the asset.
He said average values achieved in Redfern are at $11,059 per sqm, slightly below the Darlinghurst rate of $11,593 per sqm, while Surry Hills has an average of $13,592 per sqm and Woolloomooloo $13,988 per sqm.
“Looking at office assets alone, this average is closer to $16,000 per sqm keeping in mind potential redevelopment opportunities.”
Meanwhile, retail averages $11,430 per sqm and there is a wide variation in this asset class depending on access.
“In addition to potential redevelopment, the strength of the office market in the city fringe can further be explained by the tight Sydney CBD vacancy environment, currently just 6.20 per cent (January 2017).”
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