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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<div class="reported-auctions">
<div class="num">New South wales had a clearance rate of 80 percent from 341 total scheduled auctions for the week ending July 3, according to realestate.com.au</div>
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Realestate.com.au reported 80 properties sold prior to auction, 42 were passed in, 133 sold at auction and 10 were withdrawn.
For  ore information, <a href="https://www.realestate.com.au" target="_blank">click here</a>.
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New South Wales holds clearance rate of 80 percent: Realestate.com.au

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A comparison guide to the Sydney suburb of Botany and the Brisbane suburb of Milton has been released by iBuyNew comparing the average starting price of a one bedroom apartment.
The guide, below, also compares rental yield, annual growth and travel times into the CBD.
<a href="/images/2016/06/29/INFO_SYDVSBRIS_V02.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/29/INFO_SYDVSBRIS_V02.jpg" alt="">
For more information, <a href="https://www.ibuynew.com.au" target="_blank">click here</a>.
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Comparison guide between Sydney's Botany and Brisbane's Milton

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Quarterly growth in the value of Sydney’s median house was a modest 0.03 percent for April, off the back of losses in the March quarter according to Residex.

Residex state Sydney has a stagnant median house value of just over $1,040,000, where it has been hovering around since January, however units in the Sydney market increased a significant 1.26 percent over the April quarter, following losses in January. The median Sydney unit is now at a historic high of $695,000.

According to Residex the Melbourne market experienced more significant easing in the April quarter, with the median house and median unit value dropping by approximately $5,000 and $3,000 respectively. 

Table 1 presents the statistics summary for April.

 

<a href="http:/www.propertyobserver.com.au/images/2016/06/30/Table_1.jpg" target="_blank">Click to enlarge</a>

<img alt="" src="/images/2016/06/30/Table_1.jpg">

Source: Residex

 
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Sydney's median house value growth modest: Residex

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There’s been a lot of discussion about a resurgence in Sydney prices, but I’m not believing it.
The talk is based primarily on one month’s figures from one source, which suggested a significant rise in Sydney house prices in May.
People are so willing to blindly accept the figures pumped out by research companies. One international ratings agency rushed out a new assessment of the Australian residential market, complete with dire warnings, based on that one figure – apparently oblivious to the frequent statistical aberrations in price data for short time periods. 
Those figures for May presented a large number of very strange results. For example, are we seriously expected to believe that Hobart apartment values rose 8.4% in a single month? Or that Darwin apartment values declined 10 percent in May? Or that, in sharp contrast, Darwin house prices surged 3.5 percent in May? Or that unit prices dropped 6% in a month in both Canberra and Perth? Or that house values in Sydney suddenly turned around and jumped 3.6 percent in May?
The absurd nature on some of these numbers shows how rubbery real estate figures can be, especially when you’re dealing with month-to-month changes, which are notoriously erratic and essentially meaningless.
The Sydney figure was particularly strange because there has been a major drop-off in sales activity this year. Sales volumes have been trending steadily downwards since the end of 2014 in fact, but it’s been particularly pronounced in 2016 – and exacerbated recently by the calling of a federal election, which always causes consumers to stop dead with their decision-making and action-taking.
The thing is: all other price data, including the March Quarter figures from the ABS, has been recording a contraction of Sydney price growth, which is exactly what I would expect. It’s extremely rare in housing markets for prices to keep rising when there’s a significant decline in sales activity.
Hotspotting research for The Price Predictor Index finds not a single growth market in the Sydney metropolitan area, which contains over 700 suburbs. Many suburbs are in steady decline.
An example is Auburn (median house price $835,000, down 1.7 percent in the three months to April, according to Australian Property Monitors), where there were over 200 sales per quarter in late 2013, dropping to 170 in late 2014, 100 late in 2015 and now 75 per quarter.
Likewise, Bankstown ($840,000, down 2.7 percent percent in three months) was recording over 200 sales per quarter late in 2013, but numbers have fallen steadily to 95 per quarter late in 2015 and 80 per quarter in 2016.
Sales in Breakfast Point (median unit price $1.06 million, down 4.9 percent in three months) have fallen from 110 to 88 to 70 to 43 to 33 to 26 in consecutive quarters. 
In Cammeray (median house price $1.7 million, down 10.6 percent in three months), sales have dropped from 58 to 54 to 46 to 37 to 30 to 26 since late 2014. In Fairfield ($720,000, down 2 percent in three months) sales in the past four quarters have been 107, 77, 56 and 35. In Pymble ($2.05 million, down 3.3 percent in three months) sales levels have dropped from 112 to 99 to 71 to 64 to 39 in the past five quarters.
Unit sales in CBD fringe suburb of Haymarket (median unit price $895,000, down 1.8 percent in three months) have dropped from 77 to 57 to 39 to 24 to 9.
In Parramatta ($565,000, down 1 percent) unit sales have declined from 172 to 165 to 107 to 95 in the past four quarters, while in Potts Point ($710,000, down 4.3 percent), unit sales have dropped from 110 to 66 to 47 in consecutive quarters.
There are myriad other examples, all charting the same pattern of decline in sales volumes, with prices starting to follow.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Not a single growth market in the Sydney metropolitan area: Terry Ryder

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Sydney has a preliminary clearance rate of 77.1 percent for the week ending June 26 according to CoreLogic, up from 73.4 percent last week.
The Baulkham Hills and Hawkesbury region had an 86.7 percent success rate and the Eastern Suburbs and the Northern Beaches both reported an 84.9 percent preliminary clearance rate.
<a href="/images/2016/06/27/Screen%20Shot%202016-06-27%20at%201.46.10%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/27/Screen%20Shot%202016-06-27%20at%201.46.10%20PM.png" alt="">
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Clearance rates high in Sydney's Baulkham Hills, Hawkesbury region 

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Developer Mirvac Group [ASX:MGR] and joint owner AMP Capital have unveiled their landmark Sydney office building, 200 George Street.
The 37-storey ‘smart’ building will have EY as the anchor tenant and also be Mirvac’s new Sydney headquarters. It is to be known as ‘EY Centre’.
New South Wales Premier, Mike Baird, officially opened the building. The launch event was attended by Mirvac’s CEO and managing director, Susan Lloyd-Hurwitz and Carmel Hourigan, AMP Capital global head of property representing the joint owner of the site, AMP Capital Wholesale Office Fund. 
<img src="/images/2016/06/22/Screen%20Shot%202016-06-23%20at%206.28.07%20PM.png" alt="" width="716" height="477">
The tower has a net lettable area of nearly 39,200 square metres of premium grade office space, with a world first high-performing closed cavity façade with timber blinds. It is set to be one of Australia’s most environmentally advanced and sustainable developments with a 6 Star ratings being targeted.
It is one of the first ‘smart’ office buildings in Australia, adjusting the internal environment according to the needs of the employees, said media release.
Mirvac’s headquarters will become one of Australia’s first WELL certified offices.
There are plans to fill the ground floor plane and surrounding laneways with food and beverage outlets, public art and leisure spaces.
<img src="/images/2016/06/22/Screen%20Shot%202016-06-23%20at%206.26.11%20PM.png" alt="" width="722" height="483">
Lloyd-Hurwitz said Mirvac’s vision was to create a cutting edge workplace for leading organisations.  
“Showcasing adaptable workspaces, green credentials, state-of-the-art technology and iconic design from architects, Francis-Jones Morehen Thorp, the building is testament to the hard work and collaboration between Mirvac and our many partners who have been involved in this pioneering project,” said Lloyd-Hurwitz.
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Mirvac, AMP Capital's 'smart' building opens for business in Sydney CBD

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Vicinity Centres and ISPT’s first joint venture in New South Wales to redevelop the Warriewood Square Shopping Centre in northern Sydney is complete, with the refurbished complex opening on Thursday.
The $87 million makeover added around 8,000 square metres of retail space, while also upgrading the existing centre. 
In all, there are 110 speciality stores and kiosks at the shopping complex, including a new Aldi, an upgraded Woolworths and a redesigned Kmart. 
“We are proud to offer the Northern Beaches community a new destination for vibrant fashion, fresh food, dining options and a place to meet friends and family,” said Jon Savell, Vicinity Centres director of development. 
ISPT’s general manager, Retail Services, Sam Curry, said: “We’re proud to unveil features including a Vicinity Kids Play at the Square zone with a unique beach-theme, new parents’ rooms and upgraded amenities.”
 
 
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Warriewood Square shopping centre opens after $87 million makeover 

<html><body>
John Holland has secured a $324 million contract to undertake the early works package on the <a href="http://melbournemetro.vic.gov.au/about-the-project/news/major-work-to-begin-next-year">Melbourne Metro project</a>. In a media release distributed this morning, the Premier said "Next year, the face of our City will change as we dig 11 storeys below the CBD, and pave the way for Melbourne's new Metro Tunnel and five new underground stations."

The early works contract will involve the relocation and protection of up to 100 utilities, including gas, power and telecommunications services, and the 120 year old brick main sewer line under the Domain interchange.

Moreover, the contract will also include the excavation of three shafts in the CBD: two located in the north of the city on Franklin and A'Beckett Streets and one at City Square. The shafts are required for access to allow the excavation of the station pits which will be located under Swanston Street between La Trobe and Franklin in the north and between Flinders and Collins in the south.

The shafts will be up to 35 metres in depth and involve the excavation of 34 Olympic-sized swimming pools worth of soil and rock from beneath the heart of the city.

Early works construction will kick off next year.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mm-20160622-scope-of-early-works.jpg" rel="gallery-all" title="Overview of early works package components: www.melbournemetro.vic.gov.au"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/mm-20160622-scope-of-early-works.jpg?itok=nv6h1o4U" title="Overview of early works package components: www.melbournemetro.vic.gov.au" width="580"></a>

<figcaption>Overview of early works package components: <a href="http://melbournemetro.vic.gov.au/about-the-project/news/major-work-to-begin-next-year">www.melbournemetro.vic.gov.au</a></figcaption></figure><h2>In case you missed it</h2>

New South Wales treasurer Gladys Berejiklian <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2016-06-21/nsw-treasurer-gladys-berejiklian-hands-down-2016-state-budget/7528542">delivered the state's budget yesterday</a> with very similar themes to the Victorian budget released in April: solid surplus thanks to strong property markets in both capitals and enormous rail investments.

One of the key infrastructure messages Berejiklian delivered was that the <a href="http://nwrail.transport.nsw.gov.au/">Sydney Metro North West</a> and <a href="http://sydneymetro.info/home">City and South West</a> are now fully funded through the forward estimates, just like how Tim Pallas announced that Melbourne Metro was now fully funded.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sm_0040_whole_alignment_no_liverpool-01.jpg" rel="gallery-all" title="Overview of both major components of the new Sydney Metro: www.sydneymetro.info"><img alt="" class="image-article-full-width-580px" height="413" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/sm_0040_whole_alignment_no_liverpool-01.jpg?itok=SXOO6M5L" title="Overview of both major components of the new Sydney Metro: www.sydneymetro.info" width="580"></a>

<figcaption>Overview of both major components of the new Sydney Metro: <a href="http://sydneymetro.info/">www.sydneymetro.info</a></figcaption></figure>Regardless of who has the largest public transport project in the country, one thing is for sure: there's an extraordinarily large amount of dollars being funneled into rail projects around the country, perhaps at levels not seen in a century.

The following is a non-exhaustive list of rail projects this author could think of with the associated committed funds value (or estimated costs, where applicable).

In Victoria: the ongoing level crossing removals ($5-6 billion, mostly committed), Mernda rail extension ($600 million, funded in budget), Hurstbridge line capacity expansion ($140 million, funded in budget), Ballarat line capacity expansion works ($500 million, funded in budget), Melbourne Metro ($11 billion, funded in budget), HMCT &amp; new stabling/maintenance yards in Pakenham East ($1.3 billion, out to tender).

In New South Wales: Sydney Metro North West ($8.3 billion, funded in budget), Sydney Metro City &amp; South West ($10-11 billion estimated), Sydney Trains new rolling stock ($1 billion, funded in budget) and three new light rail lines.

In South Australia: Ongoing Adelaide rail network electrification (cost varies)

In Western Australia: Forrestfield-Airport Rail Link ($2 billion, funded).

In Queensland: Cross-river rail ($5.4 billion, business case just released), Moreton Bay Rail Link ($1.15 billion).

Have we missed anything? Let us know in the comments section.
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Alastair Taylor

Early works package contract signed for Melbourne Metro and other national rail news

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The City of Sydney electoral rolls for the 2016 election will close on 1 August.
On this date, the City of Sydney will provide details from the non-residential register to the NSW Electoral Commission.  After this date, they will verify if each individual on the register is eligible for the non-residential electoral roll. 
If you are eligible, your name and address will be added to the non-residential electoral roll and you will be required to vote at the next City of Sydney Local Government election in September.
<h3>Checking your name on the electoral roll </h3>
From early August, you should check if your name is on the non-residential electoral roll before election day to confirm if you are required to vote.
You can check the roll by either:
<ul>
<li>checking <a href="https://www.votensw.info/" target="_blank">online with the NSW Electoral Commission </a>
</li>
<li>visiting the City of Sydney Customer Service Centre in Town Hall House, 456 Kent Street Sydney, where the roll will be available</li>
<li>calling our Customer Service team on 1800 101 667.</li>
</ul>
The address on the electoral roll will be that of the property you own, occupy or lease in the City of Sydney Local Government Area.
ad of the City of Sydney Local Government election on 10 September 2016, owners, occupiers and rate-paying lessees of rateable property in the City of Sydney area are required to register for the non-residential register and roll.
This is your final reminder to be on the register and be eligible to vote at the 2016 City of Sydney Local Government election.
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Property 101: City of Sydney ratepayers election roll requirements 

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Sydney’s outer west is seeing a wave of speculative development in industrial property as tenant demand outstrips supply and A-grade vacancy shrinks, according to an analysis by commercial real estate firm CBRE.
CBRE’s Peter Blade said demand for new industrial space across the outer west market was at a record high, and upward pressure on rental rates would continue.
As vacancy levels for A-grade industrial stock in the area dip below 1%, the demand-supply imbalance is driving upward pressure on rents.
“In the outer west, we are continuing to see strong levels of demand from third party logistics (3PL) providers, which have multiple existing contracts coming up for tender and renewal,” Blade said. 
“Meanwhile, we are also seeing a number of corporate occupiers looking for greater efficiencies within their supply chain in a bid to remain price competitive with their customer base.” 
This means they are either consolidating multiple sites into a single, bigger distribution facility or by outsourcing storage and distribution operations to a 3PL provider.”
According to CBRE, pre-leases averaged $104.50 per square metre, while speculative developed buildings averaged $115 per square metre across all industrial leasing transactions undertaken in Western Sydney from 2013 – 2016,
“As we continue to see demand outstrip supply of new industrial properties in the outer west, we expect to see pressure remain on the rental rates PSM and an easing of incentives,” Blade explained. 
Evidencing the tenant demand, Blackmores recently inked a new lease on a 17,000 sqm facility at 647 Great Western Highway in Eastern Creek. The supplement specialist has committed to a five-year term for an annual rental of $122.50 per square metre. 
Meanwhile, GML has signed a 10-year lease on a 5,345 sqm property at Greystanes from DEXUS, to accommodate its Western Sydney operations. The annual rental for the property at E4 Quarry is $124 per square metre.
YES Shop has committed to a 4,250 sqm property at 1-5 Interchange Drive in Eastern Creek. The Goodman property was negotiated for an annual rental of $123 per square metre over five years. 
CBRE’s Greg Pike said to meet rising demand for new industrial property, there was currently 120,000 sqm of speculative development under construction from owners including Goodman, DEXUS, Frasers, Stockland, Logos, Charter Hall and GPT.
While there had been a lot of speculation that the demand-supply imbalance was a flow on effect of the 2015 ANZAC day hail storms, more factors were at play, added Blade. 
Constraints in existing building stock (5,000 sqm plus), limited land supply across the Western Sydney market and the continued pressure occupiers are facing in the central west and South Sydney markets are some of those factors, he said. 
“This is stemming from  the redevelopment of traditional core industrial markets for either government infrastructure expansion projects or redevelopment and conversions,” Blade said. 
“We don’t expect to see this trend ending any time soon, and as result, those owners speculatively developing are the major beneficiaries. Speculatively developed sheds are on average achieving rental premiums of between 8% and 10% for the same, if not less, incentive then those who wait to secure pre-commitments.” 
A significant pipeline of stock is expected to enter the market in the next six months, mainly in the suburbs of Eastern Creek, Erskine Park and Greystanes, added Pike.
 
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