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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Next weekend will be the biggest of the year so far for Sydney and Melbourne with a flood of auctions.
It is the traditional pre-Easter Super Saturday auction bonanza, according to Domain's Dr Andrew Wilson.
More than 900 Sydney homes are expected to go under the hammer in what is one of the biggest days for autumn auction activity.
Melbourne's home auction market paused last weekend for the Labour Day long weekend holiday, however Dr Wilson said next weekend is set to host a record-breaking Super Saturday of autumn auctions.
Around 1600 Melbourne homes are scheduled to go under the hammer over the pre-Easter Super Saturday, an-time record for an autumn offering with the previous record 1341 set on autumn Super Saturday last year.
"This will provide the acid test for what has been a remarkably consistent and robust Melbourne auction market so far this year," he said.
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The pre-Easter Super Saturday auction coming up

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The 2015 calendar year saw Sydney home values rise by a total of 11.5 percent, the latest NAB housing insights report has noted.
Strong economic conditions together with high rates of migration have driven the strength in the New South Wales housing market. 
Sydney has recorded the highest rate of growth, with home values rising by a cumulative 42.1 percent over the past five years.
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%201.19.19%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%201.19.19%20PM.png" alt="">
While growth in home values across Sydney has been substantial, the second half of 2015 has shown the first signs that Sydney’s strong run of capital gains is losing steam; the final quarter of 2015 saw auction clearance rates slip to the lowest levels since 2012 and home values were down by 2.3 percent over the quarter.
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%201.17.55%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%201.17.55%20PM.png" alt="">
The Sydney housing market has been undersupplied for a number of years, leading to a substantial accumulation of pent up demand. While the undersupply of housing – in conjunction with other factors including strong foreign demand and low interest rates – have been highly supportive of prices, a significant deterioration in affordability is likely to pose more of a constraint on price gains going forward. 
NAB has lowered its expectation for house price growth to just 0.6 percent in 2016 (from 11.5% in 2015) 
Additionally, a record large pipeline of residential buildings approved for construction is now (and will continue to) help to alleviate the pent up demand for housing that has accumulated over time, reducing a key source of support for the market. Similar to elsewhere, more subdued population growth and tighter credit conditions from prudential regulatory changes will likely slow demand, and may have a particularly large impact on Sydney given the large contribution from investors. 
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%201.21.18%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%201.21.18%20PM.png" alt="">
The NAB Property Survey showed that market sentiment weakened considerably in the last quarter of 2015, foreign demand eased off moderately, and participant’s expectations for price gains in the next 2 years were also heavily reduced. Consequently, NAB has lowered its expectation for house price growth to just 0.6 percent in 2016 (from 11.5 percent in 2015). Given the additional headwinds to the unit/apartment market, prices for this type of housing are expected to fall 0.6 percent in 2016.
 
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Sydney house values to increase by 0.6 percent, units to fall by 0.6 percent in 2016: NAB

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GUEST OBSERVER
In late 2015, the Greater Sydney Commission was established to oversee metropolitan planning and development in Sydney.
The commission is intended to function as a partnership between state and local governments, with both the power to create overarching planning proposals and the mandate to work with local governments on local planning controls.
NSW Premier Mike Baird has tasked the commission with delivering 680,000 new homes by 2031, with the aim of tackling the city’s unfolding housing affordability crisis.
In December, Lucy Turnbull was announced as the inaugural chief commissioner for the Greater Sydney Commission. In addition to a successful career in commercial law and investment banking, Turnbull has a history in local government – in 2003 she became the first female lord mayor of Sydney – and is the author of the 1999 book Sydney: Biography of a City. Since 2010 she has been the deputy chair of the Coalition of Australian Governments’ City Expert Advisory Panel.
Dallas Rogers spoke with Lucy Turnbull on the establishment of the Greater Sydney Commission, its structure, plans and mandate from the premier, as well as criticism from some urban planning experts that the commission is an undemocratic “top-down” approach to development.
To hear the interview in full, <a href="https://theconversation.com/speaking-with-lucy-turnbull-on-the-greater-sydney-commission-56005?utm_medium=email&amp;utm_campaign=Latest%20from%20The%20Conversation%20for%20March%2010%202016%20-%204476&amp;utm_content=Latest%20from%20The%20Conversation%20for%20March%2010%202016%20-%204476+CID_233775bf67bcd3c3aa2e3c2a6a4a3704&amp;utm_source=campaign_monitor&amp;utm_term=Speaking%20with%20Lucy%20Turnbull%20on%20the%20Greater%20Sydney%20Commission" target="_blank">click here</a>.
Dallas Rogers<a href="https://theconversation.com/profiles/dallas-rogers-5269" rel="author"> </a>is lecturer in Urban Studies, Western Sydney University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Lucy Turnbull discusses the Greater Sydney Commission

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The former AFL Swans premiership player Paul Bevan and partner Hailey Douglas have sold their Sydney apartment and are heading to Queensland.
They sold the 1960's Vaucluse apartment, with ocean glimshes for $835,000.
Ray White Double Bay selling agent James Keenan had $775,000 hopes for the top floor, two bedroom apartment.
The couple bought the north facing Military Road property for $570,000 in 2009.
Paul's retirement from the Sydney Swans prompted the pair to lease the property in 2012 as they moved to Perth.
Paul played for the Perth Demons in the Western Australia Football League for two years before heading back to Sydney where he was briefly an assistant coach at his former Western Suburbs junior sixde.
In 2005 he played in the Swan's first premiership win in 72 years. Bevan was called into the Swans' team three weeks out from the grand final, the last change coach Paul Roos made in the lead up to Sydney's four-point grand final victory.
His father, Graham, played for Canterbury, his grandfather and great grandfather played for the Roosters.
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AFL Swans champion Paul Bevan to head north after Vaucluse sale

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<div>Data from the Urban Development Institurte of Australia (UDIA) revaled that median lot prices in Sydney have increased by +49.4 percent in only the past three years. </div>
<div> </div>
<div>The increase in 2015 alone was $100,975 or +22.9 percent. to $440,725.</div>
<div> </div>
<div><a href="/images/2016/03/9/UDIA.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2016/03/9/UDIA.jpg" alt=""></div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
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Sydney land prices up 50 percent in 3 years: Pete Wargent

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A conglomerate of partners and brokers within Shore Financial have purchased two floors at 153 Walker Street in a deal possibly exceeding $3 million, as withdrawal of stock due to residential projects and the Sydney metro increase demand for North Sydney office space.
Colliers International’s Tom Appleby, who brokered the deal, did not confirm the sale price but said it was the largest on-market commercial strata transaction in North Sydney since 2006.
The Financial Review reported the transaction to be worth $3.03 million.
“After years of price stagnation, lack of supply and pent up demand are likely to push some strata sales above $6,000 per square metre this year.”
The strata had been owned by a private company for more than 20 years.
Colliers International anticipates nearly 148,000 sqm of stock to be withdrawn by 2020. Another 27,600 sqm of stock is slated for demolition in 2017 to make way for the new “Victoria Cross” train station in North Sydney, as part of the Sydney Metro project.
“It’s no wonder vacancy rates have fallen to a four-year low in North Sydney (7.1 per cent) and to the lowest level since 2008 (9.6 per cent) in the St Leonards / Crows Nest precinct,” said Appleby.
With limited strata supply slated, and larger developments at 100 Mount Street (~40,600 sqm) and 1 Denison Street (~45,720 sqm) unlikely to be fully completed until 2019, demand for existing stock will remain fierce.
Applyby said the property drew interest from both owner-occupiers and leasing tenants hunting for office space, yield-driven investors and developers.
"We love North Sydney; it’s really starting to get its buzz back. We’re extremely excited about entering the next phase of our journey as we strive to become Australia’s largest independent mortgage broker,” said Theo Chambers, Shore Financial’s co-founder and director.
“We’re expecting strata transactional activity to be significant in 2016, especially given strong market fundamentals and the looming onset of Strata Reform," Appleby said.
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Strata Financial buys office space in North Sydney for more than $3 million

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Sydney had a preliminary clearance rate of 68.6 percent for the week ending 6 March, according to CoreLogic RP Data.
The City and Inner South regions held the strongest auctions with a preliminary clearance rate of 81.3 percent, Ryde 80.7 percent and the Northern Beaches 78 percent.
<a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2012.48.00%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2012.48.00%20PM.png" alt="">
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Sydney City, Inner South hit clearance rates of 81.3 percent: CoreLogic RP Data

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GUEST OBSERVER
Sydney loves to talk about food, and the housing market. But rarely do we talk about the threat that housing poses to the resilience of Sydney’s food system.
If we continue along the path we’re on, Sydney stands to lose more than 90% of its current fresh vegetable production. Total food production could drop by 60% and the city’s supply of food from within the basin could drop from 20% of total food demand to a mere 6%.
Like most Australian cities, Sydney is facing an influx of people – 1.6 million new residents are expected over the next 15 years.
Competing priorities for land are compounded by this growing population, as well as by planning laws that favour development over agriculture – not to mention a changing climate. Cities worldwide are facing the same issues as we try to feed a growing population with limited resources. 
<h2>Protecting farmers</h2>
Sydney’s fertile soils are being paved over at a rapid rate. Large portions of areas that currently grow Sydney’s fresh produce are earmarked for release for housing development.
Currently, the planning system does not prioritise agriculture as a land use, meaning urban sprawl into potential farmland continues relatively unchecked. Instead, planning tends to focus on whichever use has the greatest economic value.
In an overheated housing market such as Sydney’s, this tends to mean agricultural land is allowed to be rezoned for houses or other higher-value land uses.
As city land prices rise, more people are moving further out for a “tree change”. Lower land prices on the city’s fringe allow families to purchase large homes and lots at a lower price than in the city.
But many of these new rural residents don’t like the early morning sound of tractors and the smell of manure on neighbouring farms, and make nuisance complaints to their local council. These complaints often result in tough operating restrictions being placed on farmers’ activities, such as limits on hours of operation and types of fertiliser that can be used.
These restrictions are introduced by councils to appease local residents and are in accordance with noise pollution laws designed for urban residential areas. But they can have significant impacts on farm viability. In several instances, such restrictions have pushed marginal farms into the red, eventually forcing farmers off their land and out of the basin.
The New South Wales government is interested in taking steps to ameliorate this problem, as demonstrated through its recently tabled Right to Farm policy. This seeks to ensure that farmers’ right to operate their business is protected against nuisance complaints.
<h2>Why growing food in Sydney is important</h2>
There are enormous benefits to growing fresh food in the Sydney basin – and, indeed, near any city. Perishable foods such as Asian greens and eggs can be grown close to market, reducing spoilage, waste and food miles, and buffering against spikes in fuel prices.
Agriculture and food processing are labour-intensive, providing significant local job opportunities. In fact, the benefit of Sydney’s agriculture to the economy is estimated at upwards of A$4.5 billion. This includes jobs in storage, processing, transport and retail.
A changing climate will mean many of Australia’s important foodbowls, such as the Murray-Darling Basin, are likely to be more vulnerable to droughts and floods. Sydney’s higher rainfall and fertile soils will become even more suitable for growing food, meaning their importance to Sydney’s food supply will grow.
Farms on the fringes of our city will help buffer the city against the impacts of climate change, by cooling the city and helping wildlife move between habitat.
Food produced in close proximity to the city can also be fertilised by nutrients and organics in urban food waste, garden waste and wastewater. Accounting for these sources, Sydney actually has 15 times more phosphorus supply than agricultural demand. That means local food systems can better buffer against the growing global threat of phosphorus fertiliser scarcity, a threat that could lead to further fertiliser price spikes and supply disruptions.
Sydney’s farms also help buffer the city against disruptions to food supply. For example, if a bushfire or fuel shortage cut transport routes into Sydney, the city would have only two days' stock of fresh produce.
Our research shows that in the face of dramatically increasing population, Sydney stands to lose these benefits.
A similar study in Melbourne found their city’s foodbowl could plummet from meeting 41% of Melburnians' food demand to 20%.
Unlike Melbourne, Sydney is geographically constrained by mountains on one side and ocean on the other, meaning there is nowhere for agricultural production in the basin to go. Our agricultural production is literally being chased to the hills – and this at a time when we face the challenge of feeding over a million extra mouths.
We’ve mapped Sydney’s current and future food production. The pink areas of the images below are areas where food is produced. As the maps indicate, the areas producing food in 2031 will dramatically decrease if we continue along the path we’re on.
<h4><a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/112641/area14mp/image-20160223-29156-w73069.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/112641/width668/image-20160223-29156-w73069.png" alt=""></a></h4>
<h4>
Sydney’s peri-urban farms produce 20% of the city’s food supply. Institute for Sustainable Futures UTS, Author provided  
</h4>
<h4><a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/112643/area14mp/image-20160223-16416-sbgwc5.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/112643/width668/image-20160223-16416-sbgwc5.png" alt=""></a></h4>
<h4>
If we allowed unchecked urban sprawl, Sydney’s farms might produce only 6% of the city’s food supply. Institute for Sustainable Futures UTS, Author provided 
</h4>
<h2>A better food future</h2>
Our city plans need to value and better protect agriculture from urban sprawl. Planners need to make decisions based on evidence to balance competing land uses.
These decisions need to take account of the full suite of values and benefits we gain from Sydney farmers, not just the economic gains we stand to achieve by converting the land to houses.
Farmers in the basin need better commercial conditions, a fair price for commodities, land security and support from other residents.
Sydneysiders need access to affordable housing, jobs and infrastructure.
But, equally, they need access to nutritious and affordable food, reversing the high rate of obesity and diabetes, and “food deserts” without access to groceries particularly prevalent in Western Sydney.
Through increased awareness and accessibility, food shoppers can also support local food producers, increasing the resilience of Sydney’s food system and simultaneously reducing the environmental footprint of food.
However, strategic policies and plans are needed to ensure that agriculture is valued and prioritised as an important land use and economic activity 
 
Dana Cordell<a href="https://theconversation.com/profiles/dana-cordell-1041" rel="author"></a> is research principal, Institute for Sustainable Futures, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/dana-cordell-1041" target="_blank">here</a>.
Brent Jacobs is research director, Institute for Sustainable Futures, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/brent-jacobs-231004" target="_blank">here</a>.
Laura Wynne is senior research consultant, Institute for Sustainable Futures, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/laura-wynne-97854" target="_blank">here</a>.
All are authors for The Conversation.
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Sydney's property development threatening foodbowl

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There's been a rush of designer own listings for auction across the inner city.
The interior designer Diane Fernandes and her foodie husband, Peter Kypreos, best known for co-founding Darlinghurst's Buffalo Dining Club, are looking to sell their renovated Zetland cottage.
McGrath agents Marnie Seinor and Brad Gillespie are expecting over $1.3 million at its March 12 auction.
The terrace has two bedrooms, each with original fireplaces.
Diane, whose projects have included Tokyo in Surry Hills and Jimmy Liks in Potts Point, teaches at Sydney Design School. 
The stylish Rozelle townhouse of interior stylist Natalie Fryer (above) didn't sell at auction yesterday, but then found a buyer after auction.
Lydnsey Kemp of Belle Property Balmain passed in the property at $2.05 million with four interested parties in the three bedroom Terry Street strata title property that was bought new in 2007 for $1.46 million.
Natalie set up her own property styling business, m2 Property Presentation six years ago which focuses on helping agents and vendors boost the appeal and saleability of their homes.
Last month McGrath agent, Angus Gorrie sold the home of Mary Brandon, owner of interior design firm MBBD.
Her four-bedroom property boasts views over Sydney Harbour across Cooper Park.
The View Street property fetched $2.72 million. 
This article was first published in the Sunday Telegraph.
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Designer listings aplenty across Sydney inner city

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Chinese restaurant Lotus is set to be the final retailer to occupy Grosvenor Place’s redeveloped Piazza in the Sydney CBD, adding to a multicultural range of dining options to move into the 1,950 square metre space in the third quarter of 2016.
With the final restaurant announced and construction well underway, the Grosvenor Place Piazza is expected to open to the public by late 2016.
The $10 million piazza redevelopment, is part of a broader George Street revival that includes the light rail, outdoor dining in Martin Place and the revitalisation of Circular Quay to create a new al fresco, pedestrianised precinct for Sydney. 
Lotus was voted Top Rated Asian 2016 restaurant by diners on restaurant booking network Dimmi and also figured in The Urban List’s top 10 Best Dumplings in Sydney. 
Along with its traditional cuisine, the restaurant is bringing in talented sommelier, Annette Lacey fromPei Modern and experienced cocktail artist, Kate McGraw.
"From humble beginnings at Walsh Bay, to the recently opened 270-seat CBD location in the Galeries, Grosvenor Place is the next step in the evolution of the Lotus brand. Along with our signature handmade dumplings, Grosvenor will feature a stronger focus on cocktails and a sophisticated bar atmosphere,” said Lotus dining director Michael Jiang.
The co-owners and managers of Grosvenor Place, DEXUS Property Group, Mirvac Group and Arcadia, have worked with architects, Harry Seidler &amp; Associates to ensure the overall piazza design retains and enhances Seidler’s architecture.
Besides Lotus, the Piazza will feature Southern Italian fare at Urban Purveyor Group’s Stella Ristorante &amp; Terrazzo; Sake Jnr’s Japanese fast fine-casual, Grand Dūk ‘s modern Australian with a Vietnamese and French twist and Georgie Boy’s French patisseries and desserts.
The adaptable format of the piazza allows the space to cater to office tower occupants across the working week, late-night theatre-goers, and arts enthusiasts during the evenings and weekends as well as tourists and inner city residents.
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