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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The Urban Taskforce believes rejected private sector proposals to redevelop Sydney's White Bay Power Station reduces confidence in the private and public partnership process.
Urban Taskforce chief executive officer Chris Johnson said after 13 teams have spent millions of dollars in good faith the whole process has been cancelled.
“It would appear that the brief was just too restrictive with the requirement to only house technology companies while restoring a decaying heritage building and to somehow fund this from very limited new development," he said.
“The large development companies in NSW have previously had two rounds of proposals for the central area of Barangaroo cancelled and with the termination of the White Bay proposal process, tens of millions of dollars have been wasted.
“There is also much confusion around the White Bay site about the impact of WestConnex and future public transport options. This lack of clarity increases the risk to the private sector in preparing proposals but it is very unfair to use this as an excuse in rejecting all proposals.
“It now appears that UrbanGrowth NSW were premature in calling for private sector proposals and too restrictive with their brief.” 
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 White Bay Power Station brief 'too restrictive': Urban Taskforce

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Chief executive of real estate group Starr Partners, Douglas Driscoll, has predicted a property bubble in Sydney to form if the market keeps on the same growth trajectory in hand with an imbalance of the housing affordability to wage ratio.
He said at the moment, the average house price is nearly 12 times the average salary in Sydney, which is considered by some respected commentators as the early fizzing of a bubble and added it is now undeniable that we are in unchartered territory and without some intelligent intervention, he believes there could be trouble ahead.  
“Based on demand, I’m hearing that agents are short on listings by 10-20 percent right across Sydney and this could be partly hinging on July 2.
"Elections directly impact consumer sentiment, with the uncertainty usually making people nervous. Historically we have almost always seen a pre-election lull, but at the moment auction clearance rates are hovering around 80 percent and property prices are still ascending across many Sydney suburbs. For me, it is almost inconceivable that a looming closely-fought election and the recently introduced macroprudential measures haven’t appeared to have put the brakes on the market.”
“Property is front and centre of the current political debate, with a strong emphasis on a proposed change in negative gearing concessions. Without thorough morphological research, it is very difficult to predict the full extent of any change in policy, but it is very likely that there would be wide-felt ramifications. Negative gearing has dominated conversation for months – and has taken the limelight away from an even bigger issue: housing affordability.
"According to CoreLogic data, Sydney house prices went up three per cent in May and based on how the market is travelling and I anticipate prices will go up by at least six percent by the end of the year. A bubble is something that has never been seen in Sydney and is understandably a subject that a lot of my peers shy away from discussing, or if they do, simply dismiss out of hand. Economists might be predicting that house prices will fall by 10 percent in 2019 but for me, it’s too far ahead to call. A lot can change in three weeks, let alone three years into the future.”
He said amalgamated councils could help keep the bubble at bay, adding hyper-localisation could feature heavily as part of the solution. 
“I acknowledge that it is an incredibly complex issue and I certainly don’t envy politicians – it’s a real juggling act. The Government is letting things take their natural course, which can be potentially dangerous. Now, I’m not necessarily calling for widespread changes because one size doesn’t fit all. This is primarily a Sydney issue, so tinkering with policy on a national level could create an unwanted butterfly effect elsewhere in Australia," he said.
“One way to address this matter could be to give Sydney’s new ‘super councils’ more power and the freedom to operate with more autonomy after amalgamating. They can’t be toothless tigers. We need to think of more creative ways to problem solve and this could start by looking at trialling localised or hyperlocal policies in certain areas. My only caveat would be that they are still ultimately under the auspices of the State Government for guidance and supervision.”
"This may not seem as far-fetched as it sounds; similar systems currently exist elsewhere. In the UK suburb of St Ives for example, one in four properties were believed to be used as holiday homes, being vacant most of the time. To combat this, legislation was introduced where new-build properties are only available to full-time residents in a bid to preserve community. Off the back of this, Douglas believes Australia should look to countries with similar systems for inspiration about what might work on our soil. 
“Both policy makers and real estate professionals alike cannot afford to take an ignorant approach because we will lose a lot of credibility if we don’t address, acknowledge and pass comment on these complex issues – the negatives as well as the positives. Today’s consumer is educated and informed, and they look to us for candid advice. It’s our duty to be transparent, even in times when we are faced with situations that make us feel uncomfortable. We must take a responsible solution-orientated approach to the facts as we find them."
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jchancellor-FAypfDUnLy

Hyper-localisation key to avoid property bubble: Douglas Driscoll

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<h2>Domain has released a list of Sydney suburbs where there was a 100% success rate at auction last month.</h2>
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<h2>Suburbs with a 100 per cent clearance rate in May</h2>
<h2>Houses</h2>
– Alexandria – Artarmon – Croydon Park  – Croydon  – Warriewood  – Birrong  – Cammeray  – Killarney Heights  – Naremburn – North Bondi  – West Pymble 
<h2>Units</h2>
– Lane Cove  – Wollstonecraft – Rose Bay  – Maroubra  – Bondi Junction  – Alexandria  – Botany – Woolloomooloo  – Epping – Vaucluse
Source: Domain Group
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Sydney's strongest May auction suburbs: Domain

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Headlines over the past few weeks have used words such as tightening, clamping and crunching when talking about the housing market and its affiliate institutions, Residex analyst Eliza Owen has noted.
"While a bearish approach to property is expected as we enter a downswing in the market cycle, further context and data are needed for a more grounded perspective," she said.
Table 1 presents the statistics summary for April.
Table 1: April 2016 Summary
<a href="/images/2016/05/31/Table_1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/31/Table_1.jpg" alt="">
Source: Residex
Quarterly growth in the value of Sydney’s median house was a modest 0.03 percent, which is off the back of losses in the March quarter. The result is a stagnant median house value of just over $1,040,000, where it has been hovering around since January.
"On the other hand, units in the Sydney market increased a significant 1.26 percent over the April quarter, following losses in January," Eliza Owen said.
The median Sydney unit is now at a historic high of $695,000.
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. As Melbourne tends to follow Sydney at a lag, there could be further short-term fluctuations in this market over the next few months, rather than a distinct downward trend.
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Residex anticipate downswing, as Sydney units hit record $695,000

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Is this quote by Johnny Isakson the perfect property quote – “In the real estate business you learn more about people, and you learn more about community issues, you learn more about life, you learn more about the impact of government, probably than any other profession that I know of.”
Let’s focus on the part of governments in property – more particularly as it relates to Sydney and its many niche property markets. Local governments are being amalgamated so that the NSW government can put on its developer cap and start approving thousands upon thousands of new developments. They identify overseas buyers as the driving force so they then introduce higher duties to get a greater tax grab. The federal government (since December 2008) allows one hundred per cent of all new developments to be sold offshore driving overseas investor demand to levels never seen before – the perfect property storm has been created but who will clean it up?
Firstly, we need to pinpoint when this newly created apartment – a – thon peaked which would be around mid – 2013. Barangaroo was the star attraction with 750 new harbour side apartments that sold in a matter of hours smashing per square metre records. These per square metre rates were then factored into every other new development and the investors came in fast, which in turn led developers to pay record prices for property sites thus creating an insatiable property appetite for investors and property developers.
Then 18 months later the Australian Prudential Regulation Authority (APRA) on December 9, 2014 tightens lending regulations resulting in higher deposits from investors buying off – the – plan. Although not much was said at the time the investor cracks were starting to appear despite developers and real estate agents buying record amounts of polyfilla. Next in July 2015, APRA announced that the big four banks and Macquarie Bank must hold more capital to provide a buffer against defaults by investors.
In May 2015, then federal treasurer Joe Hockey announced that the Australian Taxation Office (ATO) was being handed full control over all property acquisitions in Australia. This then led to the ATO announcing that every property transaction dating back to 1985 would be recorded and placed on their property register. Foreign investor participation in Australia’s property markets had spiked to $34.7 billion in 2013/14 up from $17.6 billion the previous year, so suspicions were on the rise. I might add that some market commentators (like myself) had been raising concerns well before this.
Who could forget the piece I filed back on 5 March 2015 – Treasurer Joe’s Villa del Nightmare when the ATO announced the first divestiture notice for a $39 million Point Piper mansion that was bought by a foreign buyer without Australian residency. The subject property was then flipped to a friend who just so happened to have an Australian residency and the case was closed – or so we were led to believe.
Last week (a premature announcement broke) –<a href="https://www.ato.gov.au/Forms/Foreign-resident-capital-gains-withholding-clearance-certificate-application-instructions/"> Foreign resident capital gains withholding clearance certificate applications</a> would be required for every property in Australia selling above $2 million from 1 July 2016. I was reliably informed that the grand plan is that clearance certificates will apply for every Australian property down the track. Here is the official<a href="https://www.ato.gov.au/uploadedFiles/Content/LB_I/downloads/FRCGW%20-%20clearance%20certificate%20application.pdf"> ATO clearance certificate</a>application from the ATO website.
So does this then take our attention (well mine anyway) to the fact that quite possibly in the very near future the ATO, who have been very quiet of late on all matters pertaining to divestiture notices, may soon have some big announcements? Assuming all those who purchased illegally will not be able to receive a clearance certificate – so the ATO pockets 10 per cent of the selling price from every sale?
The big problem here is that most in the industry knows that the Asian buyers have dropped off significantly, as too the Asian developers. Sydney has approximately 30,000 new apartments nearing completion and how many of those properties will have defaulting buyers? We know what the first market sale price was and nobody can intelligently predict what the second sale price may be. Guesstimates range from a 10 to 50 per cent correction depending on the volume of property coming on to the market, and rest assured you can no longer apply the Barangaroo square metre rate set back in mid – 2013.
If these defaults do happen and the second sales prices are well below the initial selling price this will then throw all the thousands and thousands of off – the – plan sales into complete chaos. Then all the future developments are shelved given these once strong markets have disappeared. Councils have been merged so what then happens to that grand plan of high density future developments?
Sydney for a few years now has been showing clear signs of investor growing pains. Although this time around the vast majority of these new developments are still a way off completion. If we go by past markets the banks are about to become reluctant property owners – so what’s the plan?
Sadly, there is no plan – just cross your fingers and hope that level heads prevail. Quite fascinating that with all these massive high – density developments that in this day and age we still don’t have a governing body regulating Australian property markets.
I get that feeling that we will need more than an umbrella.
<h5>MOSMAN – 2088</h5>
Number of houses on the market this time last year – 68
Number of houses on the market last week – 55
Number of houses on the market this week – 51
Number of apartments on the market this time last year – 46
Number of apartments on the market last week – 50
Number of apartments on the market this week – 42
<h5>CREMORNE – 2090</h5>
Number of houses on the market this time last year – 8
Number of houses on the market last week – 11
Number of houses on the market this week – 10
Number of apartments on the market this time last year – 13
Number of apartments on the market last week – 22
Number of apartments on the market this week – 18
<h5>NEUTRAL BAY – 2089</h5>
Number of houses on the market this time last year – 7
Number of houses on the market last week – 8
Number of houses on the market this week – 8
Number of apartments on the market this time last year – 26
Number of apartments on the market last week – 22
Number of apartments on the market this week – 20
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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The property storm Sydney had to have: Robert Simeon

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Parts of Sydney's booming apartment market such as Mascot, Zetland and Waterloo could be in for a price correction next year due to oversupply, according to a property consulting firm Opteon Property Group.
With nearly 20,800 apartments this year and a further 26,000 expected to settle in Sydney next calendar year, the tide is turning for landlords and developers as price growth slows and buyers of off-plan apartments sell for less into an oversupplied secondary market, said a report in The Australian Financial Review based on valuation firm's research.
Sydney is constrained by a lack of sites in the city centre, unlike Melbourne and Brisbane, and new projects have spread out to the metropolitan area. 
"There are numerous new developments in some areas and there is a risk of an oversupply issue which looks to bite around 2017-2018," Opteon said in the analysis. 
"Suburbs to watch are Mascot, Zetland, Waterloo and Alexandria which are considered high density suburbs, with high rates of new off-the-plan apartments and potential over supply," it said. 
The oversupply - and pain - will not be uniform, it says. Sydney doesn't face the widespread price apartments expected to result from the wave of looming settlements in Melbourne and Brisbane, as it still suffers a shortage of homes and unaffordable prices of detached homes mean many buyers have no choice but to go for an apartment. 
But the analysis is the strongest sign to date that even Sydney is hitting the ceiling of housing construction this cycle, the AFR report said.
NSW has approved more new apartments than Victoria every month on an annualised basis every month since June 2013. Data from the Australian Bureau of Statistics show that in the year to March, NSW gave the green light to 40,770 new apartments, townhouses and semi-detached homes, while Victorian planners approved 32,679. 
Other observers think parts of Sydney's apartment markets are in for a correction. Development in the Northern Districts is surging ahead of the planned North West Rail Link but it could prove too much, said Angie Zigomanis, forecaster BIS Shrapnel's senior manager for residential property. Parramatta in the west could also find itself with too many apartments, he said. 
"In general, it will only be localised pockets if there is oversupply," Zigomanis said. 
Any correction will not be immediate. Buyers of recently completed off-the-plan apartments - those purchased around 2013/14 - are generally in the black because the subsequent surge in prices has already pushed market prices above what they paid, Opteon said. 
But apartments sold since last year - "in large numbers to overseas investors at a premium" - are the ones at risk as they will not see the capital growth earlier purchasers have enjoyed, Opteon said. 
"As we head into a more steady market, a concerning factor will be 2016 purchasers paying a premium for new product, and not seeing growth in the market towards completion of the complex two to three years down the line, with potential valuations lower than the purchase price," it said. 
Sydney's residential property market has defied expectations of a slowdown, with an auctions market that is strong. But price growth is slowing on the supercharged figures of last year and property in Australia's largest city will be part of a national fall in prices that will come in 2019 and 2020, consultancy Capital Economics said this week.
While Sydney's eastern suburbs were at no risk of oversupply, some southern suburbs were, Opteon said.
Opteon also singled out the suburbs of Asquith and Mount Colah, a recently rezoned growth corridor on the Pacific Highway near Hornsby. 
"Currently there is an oversupply of off the plan development stock currently listed for sale with some of these developments being sold with incentives that are outside of the norm," Opteon said.
"It appears that this market segment may be heading into a period of over supply by late 2016/early 2017 which is likely to have a negative impact on both value levels and rental returns."
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Sydney apartment market could see price correction: research

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Sydney has many fringe suburbs where valuers Herron Todd White suggest there is possible value for money.
Overall the valuers have Sydney has at the start of a decline phase of the property market for both houses and units, according to valuation firm Herron Todd White's May property clock -- a simple broad brush means of suggesting where property prices are and what direction they're headed to.
The capital city was at the same position in April as well.
Here we take a look at 10 Sydney fringe locations as nominated by HTW.
SYDNEY EAST
Double Bay in Sydney’s eastern suburbs, has been revitalised over the past two to three years brought on by a much-needed face lift of the commercial and retail precinct transforming into a vibrant commercial hub.
The recent redevelopment includes new retail shops, Woolworths supermarket and other grocery stores, cafes, restaurants and speciality shops. It also includes the recently completed 2,300 square metre Double Bay Library, giving residents access to state- of-the-art facilities and 442 public parking spaces.
Other major changes include the redevelopment of The Intercontinental Hotel, formerly the Ritz-Carlton and the increased nightlife with various new restaurants, bars and nightclubs which is attracting the younger generation to the area. Night time venues have seen increased crowds since the lockouts in Kings Cross and the CBD which might not be seen as a great result for some, but is still creating a buzz around the area. 
Double Bay’s central location with direct access to ferry services and the harbour, Edgecliff train station and new shopping and commercial precincts has brought back to life its reputation. In five to 10 years Double Bay will still be a high demand suburb with potential for more medium density developments to increase its popularity.
As throughout its history, Double Bay isn’t the cheapest place to live with the medium house price being $3,185,500 as at February 2016 up from $2.405 million in December 2012. The average unit price was $1.250 million as at February 2016 up from $765,000 in December 2012 (source: realestate.com. au). 
Property Observer looked up some recent sales in Double Bay from www.realestate.com.au around the median prices.
A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-double+bay-121034166" target="_blank">43 Manning Road Double Bay NSW 2028</a> sold for $3,250,000. 
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<img src="/images/2016/05/27/main.jpg" alt="" width="657" height="493">
Among units, a three-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-double+bay-121993882" target="_blank">3/3 Pine Hill Avenue Double Bay NSW 2028</a> was sold for $1225000, according to RP Data.
<img src="/images/2016/05/27/main-1.jpg" alt="" width="677" height="508">
Sydney Inner West
Dulwich Hill is a suburb in the inner west of Sydney approximately 7.5 kilometres south-west of the Sydney CBD, which has gone through significant changes over the past few years.
In the 1990s many shops were vacant, but in recent years more shops are tenanted with thriving businesses helping to promote the café culture. Cafés and restaurants have become increasingly popular as the suburb becomes gentrified. Marrickville Council upgraded the shopping strip in the early 2000s, enhancing the look and character of the area. There has been increasing numbers of young professionals moving to the area over recent times due to its close proximity to the already gentrified areas of Newtown, Enmore and Erskineville. Dulwich Hill has also been boosted by the recent introduction of light rail. 
The proposed Sydenham to Bankstown Urban Renewal Corridor will see the introduction of a 20-year-plan to provide thousands of new dwellings along the current rail corridor and peak hour trains to the city every four minutes. Re-zoning will allow many medium-rise complexes and shop-tops within close proximity of the rail corridor including in the suburbs of Dulwich Hill, Marrickville and Hurlstone Park. Current parks and open spaces are proposed to be improved as well as enhancements to walking and cycling tracks. 
Dulwich Hill’s medium house price was $1.348 million as at February 2016, up from $850,000 in December 2012. The average unit price was $650,000 as at February 2016, up from $477,750 in December 2012 (source: realestate.com.au).
Sydney Inner South
The inner south area of Sydney in a line from Botany through to Waterloo has seen the transformation of a number of old run down industrial neighbourhoods into modern high density residential neighbourhoods. Suburbs such as Botany, Mascot, Rosebery, Beaconsfield, Zetland, Alexandria, Erskineville and Waterloo have also seen a significant number of large residential unit complexes constructed over the past ten to 15 years. This is set to continue with the precincts around Mascot and particularly Green Square railway stations to undergo significant retail and residential development over the coming decade.
Green Square is approximately 3.5 kilometres from the city centre and four kilometres from the airport and the development of this precinct will take it from its industrial past to a new style of high density living linked to shops, parks, gardens, entertainment and bike and walking routes. At the heart of the Green Square development is the new town centre, a major new residential, retail and cultural hub along with improved infrastructure and community facilities including a new library and plaza, aquatic centre, parks and open spaces, public art, a child care centre and community creative hub. It will eventually have 30,500 new dwellings including about 10,000 now under construction (source: www.cityofsydney.nsw. gov.au).
As discussed the bywords for many of these inner suburbs have been lifestyle options with a café culture. As buyer profiles have changed and medium density options fit both the purse strings and location options, the appeal of an inner suburb unit close to transport with minimal maintenance appears to be a primary driver for the regentrification of many suburbs. Given this change we do not see the appeal of these suburbs lessening over time. 
 
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Sydney's top fringe suburbs: HTW

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Conversions of heritage cottages in and around main roads in outer Sydney have reverted from mixed use, commercial and professional to family homes in the last five to ten years according to valuation firm Herron Todd White.
A great number of period homes, typically Victorian cottages around the outer Sydney suburbs of Windsor and Richmond can also be found near main roads of Wilberforce, Pitt Town, Kurrajong and Richmond.
According to HTW's report on the heritage market, a heritage precinct surrounds the town centre of Windsor with many of the original dwellings heritage listed by Hawkesbury Council.
"At a price range of $500,000 to $700,000 within the townships of Windsor and Richmond, an older cottage on a parcel of 500 to 1,200 square metres with good structural bones can be found that could be further renovated or modernised to add capital value," it said.
"Typically properties between $850,000 and $1.2 million are fully renovated and in central town positions on good sized parcels.
"Homes are rarely traded above $1.5 million however this ceiling is commonly exceeded for a well renovated property in a semi-rural location on the outskirts of these towns on acreage parcels that may also include direct frontage to the Hawkesbury River." 
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Location, land and rare sales define outer Sydney heritage market: HTW 

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Chinese state-owned Poly Group is close to buying two George Street office buildings in Sydney's Circular Quay for about $160 million, nearly 60 per cent more than what they traded for last year.
<div>The buildings at 210 and 220 George Street were purchased last year by real estate investment group Anton Capital on behalf of Goldman Sachs for a shade under $100 million from Mirvac Group, said a report in the Australian Financial Review.</div>
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<div>The properties were the final assets to sell in a nearly $250 million non-core office portfolio that Mirvac put up for sale at the beginning of the year.</div>
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<div>Both Poly Group and Anton declined to comment to AFR on the development.</div>
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<div>The deal, if it goes through, would reflect the keen pricing that Sydney's office properties have been bought for in the last six months including Invesco's purchase of 77 King Street, Investa Commercial Property Fund's $442 million purchase of 420 George Street and Charter Hall's $525 million purchase of Macquarie Group's Shelley Street headquarters. </div>
The deal with Poly is believed to be brokered by JLL, which did not respond to inquiries either, the report said.
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<div>Poly Group has been named as a keen bidder on several properties including the race for the $100 million Telstra site.</div>
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China's Poly Group close to buying two office buildings in Sydney's Circular Quay for $160 million

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ASX-listed Centuria Property Funds Limited (Centuria) and global investment firm BlackRock have agreed to jointly acquire an institutional grade office asset in Sydney's Chatswood for $279.1 million.
 
Centuria, which has $1.9 billion in funds under management, said contracts have been exchanged on the Zenith, the 821 Pacific Highway property in Sydney's Chatswood.
 
The purchase remains subject to FIRB approval, with settlement expected to occur in late July.
 
A new Centuria unlisted property fund, the Centuria Zenith Fund, will co-invest with BlackRock to acquire the property.
 
“Sydney’s North Shore office market is already performing strongly, and we expect that it will continue to experience falling vacancies and strong rental growth over the next few years," said chief executive of Unlisted Property Funds, Jason Huljich, adding he was confident the fund would provide attractive returns to investors due to the strong fundamentals of the location and the property itself.
 
The withdrawal of commercial office space in the CBD and North Shore due to residential conversion and the construction of the Metro will drive above trend rental growth and mean excellent total returns for our investor clients."
 
The Zenith has a diversified tenant mix with about 40 percent of its rental income underpinned by government tenants. It is currently 94 percent occupied and has around 44,000 sqm of net lettable area.
 
“In the current low interest rate environment, there’s no question that investors are becoming increasingly yield-driven. Distribution yields from the Zenith Fund are forecast to be 7.6 percent in the 2017 financial year, growing to 7.7 percent in the 2018 financial year. These are very attractive rates for such a high quality asset,” Huljich said.
 
 
 
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