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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Whalan takes the equal top spot as Sydney's 2016/2017 hotspot for investing in houses with an expected increase of seven percent over the next 12 months.
The median price at Whalan is currently $480,000, according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.
An example would be a four bedroom home currently on sale for between $485,000-$525,000 at <a href="https://www.realestate.com.au/property-house-nsw-whalan-123290346" target="_blank">227 Luxford Rd</a> Whalan (above), which is between $5,000 - $45,000 above the median price.
<img src="/images/2016/09/22/Screen%20Shot%202016-09-22%20at%208.21.00%20AM.png" alt="">
Similarly a four bedroom house was recently sold for $495,000 at <a href="https://www.realestate.com.au/sold/property-house-nsw-whalan-122168302" target="_blank">66 Torres Crescent</a> (above), which is $15,000 above the median price.
The Smart Investor magazine, published by Fairfax Media, ranked Burwood as second best hotspot.
Suburb               Postcode    Median price      12 month forecast
Whalan               2770         $480,000           7%
Burwood             2134         $2,250,000        7%
North Strathfield  2137         $1,652,257        6%
South Granville    2142         $820,500           6%
Cabarita              2137         $2,632,000        5%
Sylvania Waters   2224         $1,817,500         5%
Manly                 2095         $2,715,000         5%
Telopea              2117          $1,082,500        5%
Homebush         2140          $1,931,460         4%
Pitt Town           2756          $1,070,000         3%
 
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Whalan tops list of 2017 Sydney property hotspots

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The preliminary clearance rate for Sydney stands at 85.1 percent for the week ending 18 September, according to CoreLogic.
The busiest sub-region of Sydney was North Sydney and Hornsby, with a preliminary clearance rate of 92 percent. The Eastern Suburbs had a clearance rate of 94.2 percent.
<a href="/images/2016/09/19/Screen%20Shot%202016-09-19%20at%2011.58.38%20AM.png" target="_blank">Click to enlarge</a>
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North Sydney, Hornsby busiest Sydney weekend auction locations: CoreLogic

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The Colombian Hotel, an eastern Sydney partygoer favourite, has sold for an undisclosed sum after a marketing campaign by Ray White Hotels which drew more than 80 enquiries.
The three-level hotel, a former Westpac Bank before its conversion into the popular Colombian Hotel by McHugh Holdings, enjoys great street presence by virtue of its Oxford St and Crown St corner location. It is open from 9 pm to 6 am and features poker machines and drag shows.
The selling agents were Ray White Hotels’ Andrew Jolliffe and Gerry Quinlan. Jolliffe, who in the past 12 months has sold the neighbouring Woollahra Hotel, Dolphin Hotel, Four in Hand Hotel, Light Brigade Hotel and Paddington's Royal Hotel, said he was not surprised by either the price achieved or competitive nature of the sale process. 
"In a low interest rate cycle, the opportunity to invest in hard yielding A grade property assets complete with upside triggers available to improve already impressive cash flow themes, is seldom available" advised Jolliffe. 
Interest in the highly publicized sale of the hotel drew enquiry from around the globe, said Quinlan. "We were inundated from the moment we made public the proposed sale of the hotel, with enquiry ranging from well known national hoteliers and hotel groups; to local and international property developers,” said Quinlan. 
Property Observer had previously carried the story about the hotel being listed for sale.
"The investment thesis for this opportunity was compelling, with scale, position, opportunity and profitability all central components.” 
Neither Jolliffe or Quinlan commented on the price paid or the buyer’s identity, but it's emerged Sam Arnaout's Iris Capital paid in excess of $15 million for the imposing three-storey former Westpac building on the corner of Oxford and Crown Streets in the heart of Sydney's gay nightclub scene.
The Colombian, including its hotel licence and gaming entitlements, was put up for sale by publican David McHugh in July. It last sold for $6.7 million in 2011
 Read more: <a href="https://www.afr.com/real-estate/commercial/hotels-and-leisure/iris-capital-snaps-up-colombian-hotel-in-heart-of-sydneys-gay-nightlife-strip-20160915-grgusy#ixzz4KgmwLFCj">https://www.afr.com/real-estate/commercial/hotels-and-leisure/iris-capital-snaps-up-colombian-hotel-in-heart-of-sydneys-gay-nightlife-strip-20160915-grgusy#ixzz4KgmwLFCj</a>  Follow us: <a href="https://ec.tynt.com/b/rw?id=cCUjAS_ECr5iWLacwqm_6l&amp;u=FinancialReview" target="_blank">@FinancialReview on Twitter</a> | <a href="https://ec.tynt.com/b/rf?id=cCUjAS_ECr5iWLacwqm_6l&amp;u=financialreview" target="_blank">financialreview on Facebook</a>
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Sydney's Colombian Hotel changes hands after hot marketing campaign

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Sydney-based developer Dyldam’s founder and chief executive Joe Khattar has been named Property Person of the Year by Urban Taskforce. 
Khattar arrived in Australia from Tripoli in 1967 when he was 17 and joined his father in the construction industry just two years later. He led Dyldam from a small operation 47 years ago into a leading provider of affordable apartments with a special focus in Western Sydney, according to a media release.
<img src="/images/2016/09/19/Khattar.png" alt="">
Urban Taskforce CEO Chris Johnson said, “Joe Khattar seems to be everywhere in Western Sydney with Dyldam as sponsors of the GWS Giants AFL team, the Sydney Kings national basketball team, junior rugby, football and AFL sporting teams along with charities and community organisations.” 
Dyldam’s projects include the award-winning Koi Parramatta apartment project, a three-tower development at 142 Macquarie Street and a precinct proposed at Gateway South in Parramatta. The developer has 2,000 apartments and 50,000 sqm of commercial space in the planning approval stage in Parramatta alone, said the release.
Urban Taskforce Chair, Peter Daley said “Joe has worked his way up through the building and development industry to becoming one of the major developers in NSW.”
Adds Johnson, “Joe Khattar’s life is a fascinating example of a migrant working his way up in Australia. Joe arrived from Tripoli in 1967 at the age of 17. Just two years later, having studied at Arthur Phillip High School, Joe became the third generation of the Khattar family to work in the construction industry.
“In 1969, he joined forces with his father Naim Khattar to build a humble red brick six unit walk-up – establishing what was to become one of Australia’s leading high density residential developers.”
Khattar is also president of the Australian Lebanese Chamber of Commerce.
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Sydney developer Dyldam’s Joe Khattar is Urban Taskforce’s property person of the year 

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Residential vacancy rates have tightened across the Sydney market, led by middle Sydney, according to data released by the Real Estate Institute of New South Wales. 
REINSW deputy president Brett Hunter said the August 2016 REINSW Vacancy Rate Survey saw Sydney with an overall vacancy rate of 1.8 percent, down 0.1 percent. 
Middle Sydney, which includes suburbs such as Manly, Parramatta, Strathfield and Willoughby, declined 0.3 percent to 1.6 percent. 
Inner Sydney, which includes Botany Bay, Lane Cove, Mosman, Sydney and Waverley among others, was steady at 1.9 percent, while outer Sydney was down 0.2 percent to 1.7 percent, he said.
In the Hunter region, vacancy rates rose 0.3 percent to 2.7, led by a 0.6 percent climb to 3 percent in Newcastle. 
In the Illawarra region, vacancy rates fell 0.3 percent to 1.6 percent, with Wollongong down 0.5 percent at 1.1 percent. 
Across regional areas, New England fell 0.8 percent to 3.9 percent, Murrumbidgee dropped 0.1 percent to 1.5 percent and Albury was down 0.6 percent at 3.1 percent. 
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Sydney residential vacancy rates tighten: REINSW 

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Parramatta council has released an updated concept design for its $2 billion revamp of Parramatta Square CBD, which it says are based on feedback from residents and stakeholders. 
The new plans, now on public display, include an interactive ‘digital carpet’, grassed terraces, smart shading structures, a grove of historic Cabbage Tree Palms, and billabong- like water features. 
That feedback and further design ideas have helped shape the Enhanced Concept Design that is now available for public comment. The first draft was released in October 2015. 
The concept design was created by 42 – a design team including award-winning firms James Mather Delaney Design (JMD), Taylor Cullity Lethlean (TCL), Tonkin Zulaikha Greer (TZG) and Gehl Architects, Denmark. 
“In the 12 months since releasing the Draft Concept Design, Council has had much more information to incorporate, including community feedback and key milestones in Parramatta Square making it possible to provide a more meaningful approach that took all buildings in the space into account,” City of Parramatta Council administrator Amanda Chadwick said. 
“The community have told us they want flexible places to meet and relax, the provision of public art, and spaces for entertainment and events.”
<img src="/images/2016/09/15/Parramatta2.jpg" alt="">
Chadwick said the council has finalised international design competitions for five buildings on Parramatta Square and also adopted a Technology Masterplan for the precinct.
The forecast $36.5 million budget for the public domain will be funded by the development of Parramatta Square, at no cost to ratepayers.
Residents can view the Parramatta Square Public Domain Enhanced Concept Design at the City of Parramatta Council Library, branch libraries and at the Customer Service Desk at 126 Church Street, Parramatta. 
A Parramatta Square community event will be held at Parramatta Town Hall on Friday, 7 October from 10 am to 2 pm, where the Parramatta Square Public Domain Enhanced Concept Design will be available for viewing. It can also be viewed at council libraries or online at <a href="https://www.parracity.nsw.gov.au" target="_blank">www.parracity.nsw.gov.au</a>.
 
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Local council lays out new design for $2 billion Parramatta Square revamp

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GUEST OBSERVER
The announcement by NSW Planning Minister, Rob Stokes, that Sydney’s population is growing faster than expected means a diversity of housing types is needed. 
Sydney’s housing supply is already 6,000 less than required annually, so an extra 3,000 a year will need a rethink of the planning system.
While the state government sets policy it is at the local council level that housing approvals are being held up so reform is needed here.
One solution is for the Greater Sydney Commission (GSC) to establish a planning centre of excellence in each of its six districts. The District Commissioner would work with a District Chief Planner to process applications over $20 million and drive strategic planning outcomes.
Minister Stokes in media coverage on the need for increased housing supply said he preferred a Barcelona mid-rise urban form to a Shanghai high rise form. It is unfortunate that the government is seeing Sydney’s future focussed on European old city models and rejecting the emerging energy of Asian cities. Shanghai, like most cities, has a mix of high rise, medium rise and low rise buildings and Sydney needs a similar diversity of housing types.
The Urban Taskforce supports a diversity of built form solutions to our housing needs. This will include high rise close to railway stations and town centres surrounded by mid-rise buildings.
Sydney can learn from the booming cities of Asia including Shanghai where planning authorities have ensured infrastructure is provided to support the growing population with very fast trains, extensive metro systems, mixed-use cosmopolitan zoning and a focus on global jobs. It is too easy to typify Shanghai through images of the high rise in Pudong without understanding the broader city structure. In the same way the Sydney CBD skyscrapers do not sum up the overall built form of Sydney.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Sydney’s increased population growth needs a diversity of housing

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Sydney has a preliminary auction clearance rate of 80.0 percent across 604 reported results for the week ending September 11, according to CoreLogic.  
Across the Eastern region the preliminary clearance rate is 91.6 per cent, and the Central Coast sub-region at 58.3 percent.
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Sydney's Central Coast at 58.3 percent clearance rate: CoreLogic

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GUEST OBSERVER
Sydney’s property market is buoyant but signs it’s still white hot should be dismissed, with clearance rates partly skewing market perceptions.
Auction clearance rates should not be the sole barometer for how the market is performing and could inadvertently spook buyers into rushing their decision, or sellers into choosing an auction sales method without considering alternatives that might achieve a better sale result for their property.
Many Australians watching the property market are unaware that auction clearance rates don’t constitute how many properties actually sell within a week. Last year the majority of properties were going to auction because it was a more efficient process and agents had confidence that these properties would almost certainly sell. Currently, there are fewer properties being sold by auction and a lot of agents are only taking the properties to auction that they perceive are guaranteed to sell. 
It’s very much a case of apples and oranges. We are still seeing almost all properties go to auction in certain pockets of the lower north shore and eastern suburbs, but this doesn’t reflect the entire market, especially when only about 10 per cent of properties go to auction in Sydney’s west – a community home to 12 percent of Australia’s entire population.
Sydney in itself is not selling a proportionate amount of properties at auction to make an accurate prognosis of the market. We are currently averaging around 300 properties going to auction over the weekends, but I think we should be looking at the results of total residential sales for the whole week, not just the auctions on the Saturday.
Rather than just using auction clearance rates as a barometer, I urge Australians to consider other metrics such as the average days on market and/or the price achieved as a percentage of the asking price. Auction clearance rates are simply a cross-section view of the market.
Here are three tips
Review number of days properties spend on the market
When the number of days on market goes down, understandably it means that the market is doing well. Likewise, when the number of days goes up, it’s generally a sign that the market might be toughening, or – for Sydney – be a sign of a stabilising market.  How Australians can make an informed opinion: 
Last year was very much a case of a high tide floating all boats but this year, despite the market still being strong, there are various nuances across different parts of our city. We shouldn’t be looking at Sydney as a whole, but at individual suburbs, and how things are moving and changing on a much more granular level. Consumers should spend time researching by monitoring listings, specifically, how long properties are on the market for.
Finally, no one knows the area better than local real estate agents and I strongly advocate people talking to the leading agents in their local area, to ensure they are well informed about how the market is performing. According to data from CoreLogic, about 1,000 more properties are being listed for sale than this time last year but the average days on market for Sydney properties this July was 40 days, much different to the average of 26 days in July last year. This really shows how the market is performing and my advice is to look at these independent research findings to get further insight into what’s happening on the ground.  
Assess the percent ratio of the achieved price to asking price
One way to get an accurate measure on how the market is performing is to look at the percentage ratio of the price achieved for properties against the asking price. Last year in Sydney most properties sold for the value within the price guide or above but now we’re in a situation where properties are selling within the price guide or below. But this certainly doesn’t mean the market is crashing. To make an effective prognosis of the market, we need to ensure that we’re looking at all of the facts.  How Australians can make an informed opinion: 
Median house and unit prices are down ever so slightly from the same time last year according to CoreLogic. For units it’s about $1,400 less and for houses it’s about $15,000 less, which really isn’t much in the grand scheme of things. These days, many agents send email newsletters detailing new listings and recent sales with price achieved so my advice is to get on these lists and keep in touch with agents that you’re meeting at open for inspections. There are also some free online tools that can help consumers track the advertising history for properties, to get an indication of property sale histories or what price reductions might have occurred over the past week.  
How to determine more accurate auction clearance rates 
To make an accurate market prognosis, we need to make sure we’re looking at all the facts. In the case of auction clearance rates, there’s no automated process at reporting the results accurately. In many cases you’ll find that agents won’t disclose the details of any properties that were passed in and the problem with brushing these things under the carpet is that you’re going to get a lumpy carpet, which could cause some consumers to trip. The results are often distorted by what’s being withheld, not to mention auction clearance rates also include properties that sold prior to auction with no competitive bidding at play. How Australians can make an informed opinion: 
Straight away, I urge consumers to take approximately 10 per cent off the clearance rates they’re seeing in the headlines. This will provide a more realistic number to make a sound market prognosis. There are many great resources available to Australians, including Cooley Auctions’ Cooley Index, which is a report on total auction volume, clearance rate, percentage sold over reserve and more, as well as a comparison to the same time the previous year. These stats are sometimes up to 10 per cent less than other reports, so given that they are highly reputable auction specialists, this in itself should motivate consumers to rethink clearance rates.
Another thing to remember is that we’re sometimes only dealing with about 200-300 properties being sold at auction here in Sydney, while Melbourne is often dealing with two to three times that amount. At those kinds of numbers, auction clearance rates are going to be a much better barometer of the Melbourne market unlike Sydney’s rates, which are tantamount to looking at the property market through a keyhole.
DOUGLAS DRISCOLL is chief executive officer of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
 
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douglasdriscoll-EkfdEjJSsC

Auction clearance rates unreliable metric for Sydney property buyers: Douglas Driscoll

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Despite the massive surge in property prices in Sydney’s West, the region is still home to the city’s most affordable rental apartments.
</div>
Government statistics reveal median entry level one-bedroom weekly rents are as low as $280 a week.
That secures a one-bedder, mostly unrenovated, around Blacktown and Fairfield.
Carramar offers the cheapest two-bedroom median rentals at $300 a week, $20 less than Cabramatta at $320.
<table style="height: 440px; width: 549px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td> </td>
<td colspan="4">
 
</td>
</tr>
<tr>
<td> </td>
<td colspan="2">
 
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
 Postcode
</td>
<td colspan="4">
Median
</td>
</tr>
<tr>
<td>
 
</td>
<td colspan="2">
$
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td colspan="2">
                                                              Lowest 1 bedroom
</td>
<td colspan="2"> </td>
<td> </td>
</tr>
<tr>
<td width="140">
2148 (Blacktown)
</td>
<td colspan="2" width="66">
280
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td width="140">
2165 (Fairfield)
</td>
<td colspan="2" width="66">
280
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td width="140">
2195 (Lakemba)
</td>
<td colspan="2" width="66">
315
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td width="140">
2145 (Greystanes)
</td>
<td colspan="2" width="66">
320
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td width="140">
2144 (Auburn)
</td>
<td colspan="2" width="66">
335
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td width="140"> </td>
<td colspan="2" width="66"> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td colspan="2">
                                                              Lowest 2 bedroom
</td>
<td colspan="2"> </td>
<td> </td>
</tr>
<tr>
<td>
2163 (Carramar)
</td>
<td colspan="2">
300
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2166 (Cabramatta)
</td>
<td colspan="2">
320
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2165 (Fairfield)
</td>
<td colspan="2">
350
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2195 (Lakemba)
</td>
<td colspan="2">
360
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2192 (Belmore)
</td>
<td colspan="2">
370
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td colspan="2">
                                                             Highest 1 bedroom
</td>
<td colspan="2"> </td>
<td> </td>
</tr>
<tr>
<td>
2000 (Sydney)
</td>
<td colspan="2">
630
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2009 (Pyrmont)
</td>
<td colspan="2">
600
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2039 (Rozelle)
</td>
<td colspan="2">
600
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2022 (Bondi Junction)
</td>
<td colspan="2">
595
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2050 (Camperdown)
</td>
<td colspan="2">
590
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td colspan="2">
                                                             Highest 2 bedroom
</td>
<td colspan="2"> </td>
<td> </td>
</tr>
<tr>
<td>
2000 (Sydney)
</td>
<td colspan="2">
895
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2027 (Darling Point)
</td>
<td colspan="2">
798
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2061 (Milsons Point)
</td>
<td colspan="2">
798
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2011 (Woolloomooloo)
</td>
<td colspan="2">
795
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>
2010 (Surry Hills)
</td>
<td colspan="2">
780
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td width="140"> </td>
<td width="38"> </td>
<td width="38"> </td>
<td width="20"> </td>
<td width="20"> </td>
</tr>
</tbody></table>
Anglicare Sydney’s recent rental affordability snapshot reviewed some 15,000 properties available on the first weekend of April and found only 76 were affordable and appropriate for households on income support payments without placing them in “rental stress”.
The NSW Fair Trading rental bond data shows the dearest one- and two-bedroom units for lease are all within proximity of the CBD.
The most expensive units have a median rent of $630 for a one-bedder and $895 for two bedrooms.
Two-bedroom tenants pay around $100 a week less in Darling Point and Milsons Point, where the median rent is $798.
Milsons Point leasing agent Andre Pang says new developments have meant rental prices have been steady.
The Rental Bond Board data will be released regularly on the Fair Trading website from later this year.
Victor Dominello, the Minister for Innovation and Better Regulation, says the open data initiative will allow renters and landlords to compare median rents across NSW.
“We are living in the digital age and open data can be utilised to empower communities and policymaking,” he said.
Lakemba is the third cheapest rental suburb according to the state government figures. The median rental for a one-bedroom Lakemba unit is $315 a week.
An as-new studio apartment near Lakemba train station is available at $290 per week, complete with kitchenette, ensuite and balcony.
Greystanes has median rental price for one-bedroom units at $320 a week.
Auburn is over $50 a week more expensive than Blacktown. Its one-bedroom median unit price is $335 a week.
There are only two two-bedroom properties up for rent on realestate.com.au in Carramar, and they’re both available at $300 a week.
The Rental Bond Board had 537,000 bonds held for the Greater Sydney area, where median rents rose 4.3 percent over the March quarter.
NSW Fair Trading the top 5 postcodes with the highest and lowest median rents (per week) in Sydney for apartments.
This article was first published in the Saturday Daily Telegraph.
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