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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A rare whole floor tenanted strata office investment in the heart of the Sydney CBD financial district is being offered for auction through Ray White Commercial.
The offering in Ranstad House at Level 4/109 Pitt Street, Sydney, is being marketed by Ray White Commercial Sydney’s Christian Minards and Anthony Harris on behalf of a private investor.
Minards said it was uncommon for a whole floor in a Sydney CBD financial precinct office building to come onto the market.
“Level four is a true whole floor offering of 930 square metres and comprises nine separate strata lots that are leased by established tenants,” he said.
“The property will return net rental income of $530,000 per annum with a weighted average lease expiry (WALE) of 3.16 years as of October 2016."
Harris said the Sydney CBD has yielded strong results over the past two years despite being amidst one of the largest construction cycles ever recorded
“The average capital value is now recorded at more than $8,000 per square metre and this level of growth has been unseen over the last 10 years,” he said.
Ranstad House is in a 21-storey A grade office tower. Harris said it has 20 levels of office accommodation as well a public car park for 143 cars and a ground level retail arcade that forms part of the Hunter Connection, which provides direct access to Wynyard’s trains and buses.
The Pitt St property will go to auction on October 25.
<img src="/images/2016/10/19/161018%20109%20Pitt%20St%20Sydney%20Exterior.jpg" alt="">
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Whole floor Sydney CBD strata investment for sale at auction

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One of Australia’s fastest-growing suburbs took out top honours at national urban design awards.
The City of Sydney’s Green Square town centre was a winner at the 2016 Australian Urban Design Awards.
Lord Mayor Clover Moore said the prestigious national award reflected on the City’s commitment to excellent urban design.
There was also a win for Sydney Park's water re-use project.
“This is a win for our inner city communities, who’ve come with us on the journey of great urban design, and it’s a win for our fantastic staff teams and partners on these projects,” the Lord Mayor said.
“We’re focused on meeting the needs of our communities with great spaces and facilities that residents, businesses and visitors can enjoy and be inspired by.
“In Green Square, we’re revitalising the area’s heritage charm with innovative and sustainable design that reflects the growing community. Our long-term planning and design for the town centre represents a strong and truly coordinated vision – the community’s local knowledge, needs and hopes for the town centre helped shape its development.
“Our Sydney Park water re-use project brought together excellent design, science and sustainability to create a significant new piece of green infrastructure. This innovative design allows for the cleaning and reuse of 340 Olympic-sized swimming pools worth of local storm water runoff from Newtown each year.”
The multi-award winning Sydney Park water re-use project won the Delivered Outcome – Large Scale category award, while Green Square was awarded the Urban Design, Policies, Programs and Concepts – Large Scale category.
Green Square is bringing culture and creativity to the doorstep of 61,000 people who will soon live in the area, with a new town centre set to boast sustainable infrastructure and world-class community facilities.
Features will include a library, childcare centre, creative hub, aquatic and recreational centre, more than 15 parks, and Australia's biggest residential stormwater harvesting and treatment system.
The Sydney Park water re-use project harvests and treats up to 850 million litres of stormwater from Newtown’s Munni Street catchment each year. The water is used to irrigate the 44-hectare parkland and supply water to a neighbouring depot.
The Australian Urban Design Awards, awarded by the Planning Institute of Australia, is one of the nation’s largest urban design competitions.
Established in 1996 by Prime Minister Paul Keating, the program recognises contemporary Australian urban design projects of the highest quality.
The 2016 judging panel included representatives from the Australian Institute of Architects, Australian Institute of Landscape Architects, Government Architects Network Australia, Green Building Council of Australia, Consult Australia, Engineers Australia, Australian Sustainable Built Environment Council and Urban Design Forum.
The judges commended the Green Square town centre project for its creation of a mixed-use neighbourhood on former industrial land with high-quality public spaces and community infrastructure.
“A major public square is the outcome of an international design competition and forms the social heart of this vibrant community. Research, collaboration, community engagement and ongoing monitoring are critical components that distinguish this comprehensive urban design strategy,” the judges said.
The judges said the Sydney Park water re-use project design “provides a bold, high-quality and conscientious enhancement of public space that is interconnected with the surrounding urban environment through water collection and re-use.”
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Sydney's Green Square urban design project wins award

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The Eastern Suburbs once again takes the top spot as Sydney’s region with the highest clearance auction rate, according to CoreLogic’s latest monthly report.
The region has a clearance rate of 97 percent from the 69 auction results over the past week.
<a href="/images/2016/10/17/Sydney%20sub%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/17/Sydney%20sub%20regions.jpg" alt="">
This is followed by the Sutherland with a clearance rate of 93 percent.
The Outer South West has the lowest clearance rate, only 40 percent of 10 results selling.
<a href="/images/2016/10/18/Sydney%20weekly%20clearance%20rate.jpg" target="_blank">Click to enlarge</a>
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Eastern Suburbs auction success into the 90s: CoreLogic

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A Sydney office tower has been listed for sale. Civic Tower is a prominent office tower completed in 2004, comprising 24 levels of office accommodation, cafe and 54 secure basement car spaces.
The property located at 66<a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502116442"> Goulburn Street</a> has a floor area of 22,929 sqm with a five stars NABERS energy rating and was completed in 2004.
GDI Property bought the Civic Tower in 2014 for $136 million and it has been since revalued to $188 million.
Civic Tower was built in 2004 by Grocon, the first building in Australia to be fully supported on a central lift core.
GDI Property which is looking to raise more than $300 million from selling two key office assets as it reviews its portfolio.
The two offerings are 66 Goulburn Street in Sydney and 307 Queen Street, Brisbane.
<img src="/images/2016/10/03/66%20Goulburn%20Street.jpg" alt="">
The Sydney property has a secure, long term income with a WALE of six years anchored by Prudential Investment Company and Government Property NSW.
It comes with an estimated fully leased net income of $14.4 million p.a.
It has column-free floor plates.
The property is offered by joint agencies CBRE agents Michael Andrews and Scott Gray-Spencer and Knight Frank agents John Bowie Wilson and Jonathan Vaughan.
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Civic Tower, Goulburn Street, Sydney office tower for sale

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After living in Italy for a year, fashion designer Collette Dinnigan has listed her landmark Watson's Bay home just 18 months after buying it. She wants almost an extra $2 million for her absence.
She paid James Packer's right hand man Matthew 'Ched' Csidei $6.25 million for the former Masonic Temple in March 2015 after it had been offered as a $5,000 a week rental.
Dinnigan lavished 'too much' on a renovation of the property, replacing Ched's masculine and eclectic interiors.
T<a href="https://bencollierteam.com.au/property/8-gap-road-watsons-bay/" target="_blank">he four bedroom, five bathroom home</a> is marketed as now offering a more beach feel with light-filled interiors.
The designer has replaced three bathrooms, shortened the pool to allow more garden, covered in palm trees. The entry has been reworked and the driveway widened.
“If we hadn’t come to Italy we wouldn’t ever sell it," Dinnigan told Fairfax Media.
"I loved the house when I first saw it.
"It’s very European and I felt my style and aesthetic would fit there.
"We love the area, it's like Palm Beach but close to Sydney,” said Dinnigan.
<div class="in-content-ad">“But it’s a house that needs to be lived in and it just feels too big for us now.”</div>
Dinnigan is staying put in Rome with husband Bradley Cocks, her daughter Estella and son Hunter.
McGrath Estate Agents have offered guidance around $8 million hopes for the property.
 
 
 
 
 
 
 
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Fashion designer Collette Dinnigan looks for quick profitable flip in Watsons Bay

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GUEST OBSERVER
Yesterday's announcement by NSW Minister for Planning, Rob Stokes, that new planning rules to expedite the approval process for medium density housing across NSW is good news. 
The release of a draft policy and Medium Density Housing Code today will encourage greater choice for home buyers looking for alternatives to freestanding homes and apartments.
Increasingly homeowners are looking towards the middle ground for their housing needs and this means townhouses, terraces and dual occupancies. 
The Medium Density Design Guide will facilitate a higher standard of housing design and ensure development is both appropriate and consistent with community expectations. 
The Design Guide will provide a consistent set of rules for anyone designing these types of low rise homes, making it easier for the building designer and builders. 
Most importantly enabling this form of housing to be ‘approved’ as Complying Development will open up a faster approval pathway than the development application which takes months and usually results in a design being approved by council with few, or no, changes.
The pressure on land prices and housing supply in Sydney means a new generation of homebuyers could have a much larger choice of housing types in the future, if this Code and the changes to the approval process can be supported by councils, industry and the community. 
The design guide will promote better quality medium density housing to be built, in the same way that the apartment design code released many years ago now has improved the design of high rise apartments.
We hope that councils will recognise that medium density housing is a desirable form of housing in Sydney but only accounts for 10 percent of all approvals granted. For medium density houses to be approved as complying development they must meet the specific design standards set out in the design guide, which will ensure the size and scale of low rise development fits into the established streetscapes.
HIA looks forward to reviewing the full details of the new draft planning rules and working with the Department of Planning and Environment to implement these changes.
David Bare is HIA executive director, NSW, and can be contacted <a href="https://hia.com.au/about/Contact.aspx?contactustab=Media" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

New planning rules can make a real difference in approval times

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The prestige market as a whole is currently dominated by a lack of supply, which is most keenly felt in traditional blue ribbon prestige areas such as the eastern suburbs and lower north shore, according to the latest report by Herron Todd White.
As a result, transaction numbers remain somewhat subdued, although strong buyer demand for this limited available stock level is translating into bullish prices being achieved in some instances.
Herron Todd White noted that the prestige market shows signs of strong price growth.
"With an overall strengthening in the prestige dwelling market combined with limited stock levels, the prestige apartment market has shown recent signs of strong price growth primarily driven by the empty nester buyers, who previously struggled to realise adequate selling prices as a flow on from the impact of the GFC," said the report.
"While the prestige market is not stimulated as strongly by the impact of interest rate fluctuations, we do consider that savvy participants closely watch the performance of global and local markets and remain concerned about the under performing and fluctuating equities market and moderate performance of the local economy.
"Should stock levels increase, we consider that buoyant market conditions currently enjoyed in the prestige space may weaken."
Prestige residential property in Sydney is generally considered to represent properties greater than $3 million.
Prestige homes are scattered throughout the greater Sydney metropolitan area, with the highest concentrations in the eastern suburbs and eastern beaches, inner city and inner east, inner west and the lower and upper north shores.
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Sydney prestige prices may weaken with rise in stock: HTW 

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The plan for 45 storey towers at Sydney Olympic Park signals a lift in the aspirations for development across Sydney, says the Urban Taskforce.
The Sydney Olympic Park Masterplan 2030 has been released.
It sets the scene for growth across metropolitan Sydney, says Urban Taskforce CEO Chris Johnson.
“The site has been struggling to gain critical mass and the big jump in apartment numbers and in jobs will make it a cosmopolitan bustling centre.”
“To really make the site work a new western metro line that also connected the Bays Precinct, Camellia and Strathfield should be planned to relieve the congested western heavy rail line.”
“The NSW Government must stimulate similar development at other centres like Chatswood and Hurstville where the private sector can find it difficult to obtain uplifts in height and density, rezonings and development approvals. A level playing field is required to ensure all development can proceed in a timely manner rather than favouring government owned land.”
“The suggestion of infrastructure levies at Sydney Olympic Park needs to be carefully managed to ensure that they do not slow down development by reducing the financial feasibility.”
“The 45 storey vision for Sydney Olympic Park now needs to be reflected in the District Plans for Metropolitan Sydney that are due out soon.”
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Olympic towers signal the shape of Sydney’s future development

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The auction clearance rate for Sydney has doubled to 80% compared to last year which was at it’s lowest of 45%, according to CoreLogic's latest market report.
The suburb with the highest auction clearance rate is at the Eastern Suburbs with 98% with 62 auctions cleared out of 71. The lowest was at the South West with only 50% 32 of the 41 auctions being cleared.
<a href="/images/2016/10/10/Sydney%20sub%20region.jpg" target="_blank">Click to enlarge</a>
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98% success in Sydney's eastern suburbs auction clearance rate: CoreLogic

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Close to four years of yield compression has pushed Sydney’s CBRE office yields to a historical, pre-GFC low.
There's potential to fall further, new research from CBRE suggests.
A new report from the group highlighted that Sydney CBD core prime office yields reached a nine-year low of 5.2% in Q3, while secondary yields are 20 basis points off their pre-GFC low of 5.9%.
CBRE’s Michael Pisano said while the office sector was reflecting similarities with the market pre-GFC, there were key differences that suggest the current growth cycle could be maintained for longer.
“Capping off an impressive run in yield compression over the past three and a half years, Sydney CBD office yields have reached pre-GFC lows - without the same level of market rental growth to stimulate pricing when compared to the market in 2007,” Pisano said.
“Evidencing this, the drivers of the current market are vastly different when compared to the previous cycle, which further suggests a greater degree of sustainability.”
CBRE head of research Stephen McNabb said the Reserve Bank’s approach to monetary policy had created an environment that was conducive to a healthy commercial property market.
“A long period of lower interest rates has been the key stimulus to the current cycle, however the next phase will be supported by lower vacancy rates and forecast rental growth,” McNabb said.
“The other difference between now and the pre-GFC peak is that the fundamental outlook for the Sydney office market is looking solid. Vacancy - currently 5.6% - is expected to fall to 3.3% by 2018 and prime effective rent growth is running at a 23% annual rate in Q3 2016.
“Importantly this rent growth is following, not leading, the yield compression which is in stark contrast to the performance of the office market after the GFC.”
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