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 Hills of Carmel released 2,000 lots of housing land in the recently rezoned Box Hill in Sydney's north west, worth more than $1.3 billion.
The ribbon cutting on May 13 was done by Ray Williams, MP, Member for Castle Hill and Parliamentary Secretary to the Premier for Western Sydney, with other VIPs also attending. Among those present was Bob Welsh, property development consultant for The Hills of Carmel.
The Hills of Carmel, a master-planned community on 223 hectares sub division, has all services currently enabled on site and housing construction will begin in 2017.
Blocks on sale start at $390,000 for 300 square metres, with additional lots available for purchase at 375, 450 and 550 square metres. 
Slated to include playing fields, a shopping centre, schools, and outdoor space, the development will create thousands of new jobs and inject an estimated $700 million into the local economy.
The land, first owned by Governor William Bligh, has been used in past for orchards, dairy farms and the pioneering breeding of Brahman cattle stud, according to a recent article in the Daily Telegraph.
Development is now being handed by descendants of Albert Scheinberg, who purchased the major part of the land in 1960, it said. 
The event was held at 43 Boundary Road, Box Hill.
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prateek24-ezbwHMbNAk

Land lots worth $1.3 billion in Sydney's Box Hill released to home buyers

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If there were a term that I would love to see introduced into the Australian property vernacular it would be just the one word – “shifts”.
For some time now I have found it most frustrating the way commentators and (to a much lesser extent) politicians raise topics, such as housing affordability is a fine example, Headlines such as “Australia’s housing affordability improved in the first three months of 2016” mean very little and serve little purpose. The problem with the housing affordability debate is that it focuses on Sydney and Melbourne which are the two most sort after locations whilst there is no mention of the affordable areas.
Rather we should for example look at what’s actually driving our specific market demographics on a suburb by suburb basis. Only then can we actually get a proper idea of what is actually happening where, believe me, we are now seeing some healthy shifts and some alarming shifts.
For example, in many Sydney suburbs we are now seeing record low stock levels particularly with houses – so what caused these shifts? In the vast majority of cases it always comes back to government policies whether federal, state or local. The reason why we are seeing less houses on the markets is because property values have grown to such a level that the barrier is now stamp duty. For a house purchased at $3,000,000 it is $150,490 and a house purchased at $4,000,000 it is $220,490 so home owners are now going to Plan B – refinancing and renovating.
 
When I speak to property valuers in our area I’m told that their workloads are now split 50/50 between purchases and re-financing which is a shift that started 3 years ago. Three years ago in Mosman there would be around 125 houses on the market each week where today there is around 50, so homeowners are refinancing to renovate with a view to a longer hold.
In November 2013, the value of housing finance was 26 percent higher than the previous year. This shift has continued ever since which clearly identifies where homeowners are shifting their monies taking household debts to historic highs with historic low interest rates.
Mosman has 5,890 houses approximately with 55 on the market today. Cremorne has 7,135 houses approximately with 7 on the market today. Neutral Bay has 1,109 houses approximately with 8 on the market today. Cammeray has 1,275 houses approximately with 9 on the market today. Northbridge has 1,914 houses approximately with 10 on the market today and Seaforth has 2,317 houses approximately with 18 on the market today. This has been the pattern for the last three years and don’t expect this to change any time soon.
Now when we look at the shifts in the new apartment markets this is where it gets scary because the blame here is shared equally between the state and federal governments. When the state government starts introducing a strategy for massive high–density developments and the federal government changes the ratio restrictions from 50 per cent to 100 per cent for overseas buyers on off–the–plan purchases, as I said a few years ago – train wreck.
Recently we read that the major banks ceased foreign lending so I immediately thought something is happening here as banks never turn away new revenue streams. Now we read that Westpac and the ANZ have found approximately $1 billion in Chinese mortgage application fraud. No doubt a precursor to the Australian Taxation Office clampdown on non – resident purchases so the anxious buyers then shifted to federal government endorsed off–the–plan purchases. It’s anyone’s guess where this will end up, although you would be right in saying this is only going to get worse. More particularly this has the potential so see a major revaluation of existing apartment purchases significantly down. Little wonder the major lenders announced recently that they were not approving any more loans in many Sydney suburbs.
Now shift your attention to the upcoming federal election where the Liberal party is not going to touch negative gearing and the Labor party are going to only make negative gearing available to new properties. Can you see another potential shift in the markets if negative gearing only applies to the new developments where given what’s currently happening nobody will be buying anything until these markets sort themselves out?
Then I read an article recently where Harry Triguboff announced that recently sales to Chinese buyers had halved and that Chinese buyers over the past few years had accounted for 80 percent of new Sydney apartment sales. Yes – 80 percent! Why is this not an election issue?
Now to put this into further perspective household consumption is actually what’s presently driving the Australian economy. In the December quarter 2015 national accounts household consumption delivered 0.4 percent of the total 0.6 percent growth.
Now there are a few shifts that need much closer examination. First signs for the NSW government will be a dramatic collapse in stamp duty revenues which is happening big time. The once ever dependable existing house market is renovating or has renovated so no financial joy there either. Then there will be a dependence on the off–the–plan purchases actually completing, although that’s looking shaky too. With 93 percent of investors preferring to buy existing properties and now the ALP wants them to but new properties – well that won’t work. We now know that nearly all the off–the–plan sales have gone to Asian investors.
The ALP need to be corrected on this as this policy change to negative gearing is Mining Tax Mark II.
<h4>MOSMAN – 2088</h4>
Number of houses on the market this time last year – 57
Number of houses on the market last week – 51
Number of houses on the market this week – 55
Number of apartments on the market this time last year – 49
Number of apartments on the market last week – 53
Number of apartments on the market this week – 50
<h4>CREMORNE – 2090</h4>
Number of houses on the market this time last year – 4
Number of houses on the market last week – 8
Number of houses on the market this week – 7
Number of apartments on the market this time last year – 14
Number of apartments on the market last week – 24
Number of apartments on the market this week – 23
<h4>NEUTRAL BAY – 2089</h4>
Number of houses on the market this time last year – 3
Number of houses on the market last week – 11
Number of houses on the market this week – 8
Number of apartments on the market this time last year – 27
Number of apartments on the market last week – 25
Number of apartments on the market this week – 21
 
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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Beware of the Sydney property shifts

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Frasers Property Australia and Sekisui House Australia have announced the sale of The Australian Hotel and Abercrombie Heritage Terraces in Sydney's Chippendale to Solotel Hospitality Group for an undisclosed sum.
The sale concludes an international expressions of interest campaign to find a buyer, which was run by Ray White Hotel's Andrew Jolliffe.
Constructed in 1938, The Australian Hotel was one of four pubs included within the original Carlton United Brewery site. 
The purchase includes the original hotel building located at the corner site of Broadway and Abercrombie Street as well as three heritage terrace houses fronting Abercrombie Street. 
Frasers Property and Sekisui House Australia are partners on the award-winning Central Park development at the former Carlton &amp; United brewery site, which is set to house 5,000 new residents once completed.
The purchase of the Australian Hotel by hotelier Bruce Solomon and renowned chef and restaurateur Matt Moran of Solotel Hospitality Group sees the continuation of the trend of experienced operators taking their products to new areas of Sydney.
"Both Bruce and Matt have enjoyed considerable success in both Sydney and Brisbane through their ARIA, CHISWICK and Opera Bar businesses to name but a few, and we anticipate their hospitality prowess will again deliver the dynamic Chippendale area with another flagship drawcard upon completion of their Australian Hotel project," said Jolliffe. 
Central Park’s project director, Mick Caddey, said the joint venture team was pleased to bring experienced operators such as Solotel on board at Central Park.
The Australian Hotel, which will reopen in 2018 after refurbishment, will form part of Central Park’s Broadway street frontage embedded within the Foster + Partners designed DUO towers. 
“The Australian Hotel was once one of the most important local watering holes in the southern end of the Sydney CBD," Solotel Group’s managing director Bruce Solomon said.
"It saw a motley crew of Fairfax journalists, Carlton United Brewery staff and local rag-trade workers pass through its doors during the 40s, 50s and 60s." 
In addition, the three adjacent terrace houses facing Abercrombie Street will be converted into a European-style wine bar.
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Solotel buys historic The Australian Hotel at Sydney's Central Park

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The housing market in Coffs Harbour, far north New South Wales and Sydney is on the decline, according to valuation firm Herron Todd White.
HTW state east coast NSW is largely holding a steady trend in rental vacancy and the volume of house sales, but house sale volumes are beginning their fall in Sydney. 
New house construction is ramping up in Canberra.
<a href="/images/2016/05/09/Screen%20Shot%202016-05-09%20at%202.15.21%20PM.png" target="_blank">Click to enlarge</a>
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Coffs Harbour, Sydney houses in price decline: HTW

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The 30 minute city is a worthy town planning concept of connectiveness but isn't ever going to happen in Sydney.
Buyers on the fringe must simply cop the consequences of distance.
The valuers Herron Todd White suggested recently just because fringe localities are cheap, doesn’t mean they can’t be savvy buys too.
They offer the chance of property at a fraction of the cost compared to city hub. Badlands no more.
The major worry from a price growth perspective is that supply can rise suddenly on the fringe.
Suburban addresses on the circumference of any city are abutted by greenfield sites.
"While you can see solid value performance, it doesn’t take much for competition to kick in," HTW noted.
If big parcels of housing land nearby gain development approval, there’s suddenly a whole new option for potential buyers.
Nowadays developers effectively create mega-suburbs through multi-stage projects extending over decades that include major community spaces, schools, universities, even hospitals as well as the mandatory shopping centre.
The aim is that families can effectively live within the boundary of these new communities and want for very little. 
The inner suburbs of Sydney hold most of the buyer attention, but the sought after cafe lifestyle pursuit exist beyond the hipster belt in suburbs 25 kilometres away the CBD. 
And also on the outskirts of NSW's major regional cities too.
Take the Illawarra, where fringe areas tend not to be too far from the main centres of Wollongong, Shellharbour and Kiama.
HTW suggests these include Cringila, Port Kembla, Unanderra, Dapto, Barrack Heights and Lake Illawarra.
Prices below $400,000 are now rare, generally for 1960s brick or fibro dwellings without major updates.
Cringila, close to the steelworks, is priced under $350,000, with capital growth pegged back due to location, HTW advise.
The Shoalhaven fringe are the small coastal towns based around Nowra, including Shoalhaven Heads, Culburra and Callala Beaches.
While all have local shops and services, they don't have departments stores and good public transport.
Most of all they lack a deep job pool, HTW warns.
Their real estate prices reflect this but can be buoyed by buyers seeking that holiday house dream.
Prices in Shoalhaven start around Nowra at $250,000 for a 50 year old three bedroom fibro.
As Australia’s seventh largest city, Newcastle has many fringe options including Fletcher and Cameron Park.
A contemporary four bedroom in Fletcher costs around $550,000, compared to $800,000 plus closer in.
Apparently traffic in Newcastle is rarely problematic, allowing fringe commuters 20 minute access to CBD based careers, services and social activities.
On the Central Coast, close to the Gosford CBD are the fringe options of Niagara Park, Narara and Wyoming.
Lacking the popularity enjoyed by the beachside suburbs, HTW suggests as gentrification occurs they may well prove a smart buy.
Further north, Chain Valley Bay, Gwandalan and Summerland Point have been popular with retirees and a constrained budget, but have seen a recent rising market.
The Southern Highlands has experienced increased investors in its fringe options, which are the villages away from the three major towns of Bowral, Mittagong and Moss Vale. Prices have increased 10 percent since 2014, but this is now expected to slow.
The Southern Tablelands region has been steady with HTW anticipating Goulburn to plateau or even soften.
Goulburn is sometimes viewed as a fringe suburb of Canberra, suggesting rather than the 30 minute city outcome, we rather might all merge into one huge metropolis.
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jchancellor-FAypfDUnLy

The 30 minute city isn't ever going to happen in Sydney

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The value of residential property in Sydney has risen 137 percent over the last 10 years to rank fourth behind Mumbai (184 pe cent) in a list of world cities, according to new research by Savills.
The Irish capital Dublin was at the other end of the scale, with capital value declining 26 percent over the same period.
Ten-year residential capital value growth in all global cities surveyed averaged 73 percent to the end of 2015, with Asian cities, including Shanghai (173 percent), Hong Kong (167 percent) and Mumbai, occupying the top three positions.
Savills Australia’s national Head of Research, Tony Crabb, said while it was unlikely the high level of growth these key cities had achieved in recent years was sustainable in the long term, Australia’s strong property fundamentals, including robust population growth, would nevertheless underpin a continued high level of performance, particularly along the eastern seaboard.
"Australia’s population growth is amongst the strongest in the world and is the strongest in its history. This creates ongoing demand for residential property as well as retail goods and services which feeds into logistics, warehousing and manufacturing and ultimately demand for office property and the two cities which will benefit the most from this trend are Sydney and Melbourne.
"As the population of these two cities is set to double over the next 35 years, the key driver of long-term growth is in place, and that should see Sydney remain near the head of the table in the medium term,’’ Crabb said.
Head of Savills World Research, Yolande Barnes, said the roller-coaster ride of the global financial crisis had presented an opportunity for real estate in new and emerging markets, particularly Asia, to rival those in the West, with price growth in the new and emerging economies averaging 123 percent between December 2005 and mid-2011, compared with just 32 percent in the established cities of the old world - Paris, Tokyo, London, Sydney and New York. 
She said while capital growth fortunes reversed in the years since 2011 - old world markets grew by an average of 35 per cent and new world markets by just six per cent to December 2015 - the Asian cities remained at or near the top of the table.
However, the Asian cities at the top may now be more fully valued and therefore more exposed to price falls or stagnation, particularly during economic recession.
"Our analysis of occupier demands and rental growth across all sectors (residential and commercial) should prove a good guide to the fundamentals of different markets and would seem to point to the best prospects for capital growth lying among the cities at the foot of the table, which are enjoying population growth and occupier demand from burgeoning digital and creative industries,’’ Barnes said.
Those nearest the bottom of the table with the lowest rates of growth were in the high-supply US cities of Miami, LA  and Chicago, while Dublin’s residential values remain 26 percent below its 2005 levels, although this represents recovery after an incredible fall from its 2006 peak to its 2012 trough of -57 percent.
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Sydney residential values up 137 percent in 10 years, fourth behind Mumbai: Savills 

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NSW Central Coast was perched at the peak of the market for houses, according to valuation firm Herron Todd White's latest property clock -- a simple broad brush means to suggest where property markets are  - and what direction prices are moving in. For units, it was approaching the peak of market.
<a href="/images/2016/05/10/Screen%20Shot%202016-05-10%20at%208.54.22%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/10/Screen%20Shot%202016-05-10%20at%208.54.22%20AM.png" alt="">
The April report also discussed the fringes of the Central Coast. 
Due to its location just north of the Sydney metropolitan area and the good transport corridor and services between them, some may be calling the Central Coast region a fringe location of Sydney. The people of the Central Coast would of course, object to this reference, say HTW.
When discussing fringe localities on the coast, we can think of those areas on the western side of the M1 Motorway. These are mostly rural areas with generally limited services.
We are finding these areas interesting at present as the rising prices in the Sydney market have opened the symbolic door to these areas with Sydneysiders discovering the good buying to be had. A noticeable level of activity has been seen since mid 2015 and demand is quite good. We have recently looked at more properties in these areas over the past year than we have over the previous five years.
This includes areas such as Calga, Mount White, Peats Ridge and Somersby which are close and handy to the M1 Motorway and Mangrove Mountain, Bucketty and Kulnura being that little bit further out but no less popular. We have seen a renovated dwelling on 16 hectares sell recently for just over $1.7 million. This is towards the upper end of the value range with numerous other properties available closer to or below the $1 million mark. Rental returns are not that great – expect around 3% to 4% - but it must remembered that these are lifestyle properties.
Another thing to remember with these locations is that traditionally, they don’t enjoy the same value increases seen closer in. In fact, it could be argued that they only see rises every second cycle.
As we move further north, renewed interest has been shown within selected parts of the Dooralong and Yarramalong Valley areas. These are beautiful locations and well worth a close look. Another fringe location is Jilliby which adjoins the M1 Motorway. 
Strangely enough, Jilliby has been a bit quiet lately and we expect its popularity to be on the rise shortly.
Close to the Gosford CBD but considered by many as being on the fringe are the suburbs of Niagara Park, Narara and Wyoming. As a result of the market increasing, these areas have grown in popularity with a recent purchase seen of a very tidy three-bedroom family home purchased at Narara in the mid $500,000 mark – a very good buy by today’s standards. These are areas that have lacked the popularity enjoyed by the beachside suburbs and as new owners move in and gentrification occurs, they may well prove a smart buy as we move forward. Tip: take a good look at the Wyoming area.
Rental returns in these areas have hovered around the 5 percent to 6 percent mark.
Further north, we think of Chain Valley Bay, Gwandalan and Summerland Point as fringe locations. Popular with retirees and the budget constrained, these areas have also enjoyed the benefit of the rising market and it is our hope they continue to do so. They are great family locations with sound community support and good access to Lake Macquarie. Grab the fishing rod or water skis and inboard - take a look at these ones.
Rental returns for investors are pretty good in these areas at around the 5% mark generally and we think the prospects are also good in terms of values increasing.
Back to the southern end, there are also a number of locations along the coastal strip that have enjoyed continued popularity with Sydney-based owners as their choice of location for weekenders. These areas include MacMasters Beach, Killcare, Hardys Bay, Pretty Beach, Wagstaffe and Pearl Beach. So as not to offend, we are being respectful of these people and will refer to these areas as quaint or out of the way suburbs, rather than fringe locations.
Whatever the term, they fit the criteria inasmuch that they are away from the hustle and bustle of the busy Central Coast life with privacy, plenty of trees, a beach close by and a good café - de rigueur to entice investment here. Imaginative house name plates or faux rustic signs abound in these locations with The Shack and Beach House popular choices and others reminiscent of European resort spots often attached to them.
Mind your step though and think big values, not so big returns (excluding holiday rentals) and values fluctuating according to economic sentiment rather than traditional supply and demand for these areas – it’s about quality, refinement and having friends around in these locations. 
Property Observer looked up a few properties in the fringe suburb of Wyoming on realestate.com.au. The median price of houses in Wyoming was $480,000 for houses and $385,800 for units, according to CoreLogic RP Data.
A four-bedroom house with parking for three cars at <a href="https://www.realestate.com.au/property-house-nsw-wyoming-122082494" target="_blank">36 Rain Forest Road Wyoming NSW 2250</a> (below) sold recently for $475,000.
<img src="/images/2016/05/10/image3.jpg" alt="" width="675" height="506">
A two-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-wyoming-122272290" target="_blank">21 Kinarra Avenue Wyoming NSW 2250</a> (below and lead image) sold for $395,000.
<img src="/images/2016/05/10/main-4.jpg" alt="" width="659" height="494">
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Sydney's rising property prices open doors to NSW Central Coast's fringes: HTW 

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An office building in Sydney's Mascot has been listed for sale and is said to be the first on-market campaign for a South Sydney office property in close to three years.
The five-level property at 40 Ricketty Street has a net lettable area of 5,185 sqm.
The top floor features a caretaker’s unit and cafeteria area, which could be converted to additional office area subject to the relevant planning approvals. The balance of the rooftop is an open air terrace area.
Besides 25 car spaces, the building has a dedicated substation with 800 amps of power.
The listing agents are Keegan Ridings and Peter Vines of CBRE.
“This is a rare opportunity to acquire a freehold commercial asset in the tightly held suburb of Mascot,” Ridings said.
The building is close to the new Mascot Town Centre and train station. 
Expressions of interest close on June 14.
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jonathanchancellor-7SQnKwU6yx

Office building on the market in Sydney's Mascot

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The Investar website has identified the fastest rental growth suburbs across Sydney.
Annual rental increases of 20 percent have occurred at Bondi Beach, in the premium three bedroom market.
Rank Suburb State Postcode Dwelling Type Bedrooms Median Rent 1 Year Change
1 BONDI BEACH NSW 2026 Unit 3 $1200 20.00 percent
2 MEADOWBANK NSW 2114 Unit Studio &amp; 1 $450 18.42 percent
3 ROZELLE NSW 2039 Unit Studio &amp; 1 $585 18.18 percent
4 ROZELLE NSW 2039 Unit 2 $820 15.49 percent
5 LANE COVE NSW 2066 Unit 3 $750 15.38 percent
6 NEUTRAL BAY NSW 2089 Unit 3 $975 14.70 percent
7 KINGSFORD NSW 2032 Unit 3 $800 14.28 percent
8 LANE COVE NSW 2066 Unit 2 $570 14.00 percent
9 MOSMAN NSW 2088 House 4 $2050 13.88 percent
10 MOSMAN NSW 2088 House 3 $1300 13.04 percent
11 MOSS VALE NSW 2577 House 3 $400 12.67 percent
12 CAMPSIE NSW 2194 Unit Studio &amp; 1 $360 12.50 percent
13 ROZELLE NSW 2039 House 3 $900 12.50 percent
14 ROSEVILLE NSW 2069 Unit 2 $630 12.50 percent
15 PADDINGTON NSW 2021 Unit 2 $730 12.30 percent
 
{mijopolls 136}
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Bondi Beach tops Sydney's 15 fastest rental growth suburbs: property investor poll

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CoreLogic RP Data's Tim Lawless has noted the mature nature of the Sydney unit market has actually seen houses underperform compared to units, with growth of 8.4 percent and 11.5 percent respectively over the past twelve months.
It is this strong performance from the Sydney unit market which is largely driving the higher growth rate across the combined capitals average.
“This growth differential can likely be explained by the higher supply levels of units in the inner city markets of Melbourne and Brisbane,” he added.
CoreLogic’s latest Settlement Risk report shows approximately 31,000 apartments are due to settle across Melbourne’s inner city region over the next 24 months, while Inner Brisbane has almost 17,500 units due to settle over the next two years.
According to CoreLogic research analysts, settlement risk implies that units sold off the plan could show a valuation at the time of settlement that is lower than the contract price, creating the risk for developers that contracted buyers may look to seek ways in which to avoid completing the contract to purchase the property.
Buyers of the off the plan units who find their valuation at the time of settlement is lower than the contract price may face a higher than expected financial outlay as lenders seek to ensure an 80% loan to valuation ratio.
"This risk may have been exacerbated in recent weeks with three of the big four banks reportedly limiting the extent to which they are willing to lend to non-residents," Lawless suggests.
"Of course non-residents are a material segment of persons buying new units off the plan."
CoreLogic reported rental markets have continued along their soft path, with capital city rents holding steady over the month, but down 0.2 percent compared with a year ago.
As welling rents are broadly flat at a time when dwelling values continue to rise, rental yields are lower.
The gross rental yield for capital city dwellings pushed to a new record low of 3.4 percent in April, while Melbourne’s gross yield profile is even lower, averaging 3.0 percent.
“The low yield profile across Australia’s two largest cities, which are also the cities that attract the largest investment demand, suggests that most recent investors, despite the low mortgage rate settings, are likely to be utilising a negative gearing strategy to offset their cash flow losses against their taxable income.
"Buyer demand continues to be supported by mortgage rates that are close to historic lows, as well as high levels of investment demand. Even though investor demand has eased since May last year, investors still comprise approximately 46 percent of all new mortgage commitments.
"With the likelihood of interest rate increases in the foreseeable future almost non-existent due to the negative March quarter inflation reading, buyer demand is likely to remain high for housing. Similarly, as long as taxation policy continues to support investment in the housing market, we are likely to see investors remain as a substantial component of housing demand due to the lacklustre returns evident in other asset classes such as cash, bonds and equities,” Mr Lawless said.
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