Rose Bay is emerging as one of Sydney’s most active suburbs for development, as developers respond to demand driven by the suburb’s ageing population.

More than 20 per cent of Rose Bay residents are aged 65 and over, according to the latest ABS census data. Combined with more favourable planning schemes introduced in recent years, new development activity in the suburb has accelerated.

Fresh off the back of a $173 million sale of what was marketed as “one of the largest sites ever amalgamated so close to Rose Bay Village,” created by 12 homeowners joining forces to combine nearly 6,000 sqm bordering Wilberforce Avenue and Dover Road, more than $200 million worth of development applications has been submitted in the suburb in the past month alone.

Aligned with the Rose Bay Place Plan 2023–2028, which identifies Wilberforce Avenue as a strategic location for new housing in response to local demographic shifts, Lewin Capital has lodged plans for a new $40 million project, also on Wilberforce. The proposal seeks to deliver 32 apartments, a mix of sizes designed to cater to a broad demographic range, including downsizers and key workers, with both smaller and family-sized units on offer.

<img alt="12 Wilberforce Avenue ROSE BAY NSW" data-entity-type="file" data-entity-uuid="e314fb24-2e53-4808-8411-d6e7c5fee2ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan%20-%20Photomontage%20-%20DA2025%20449%201%20-%2012-18%20Wilberforce%20Avenue%20ROSE%20BAY%20%281%29.JPG?VersionId=XX.AXChH4Kmv.kOB03suE8lenQ1NlqUe" />

Architecturally, the scheme adopts a measured approach to height and massing, stepping down at the rear to integrate with adjacent residential properties while forming a defined medium-density edge to the Rose Bay Centre.&nbsp;

“The proposed design for 12–18 Wilberforce Avenue, Rose Bay is a well-mannered apartment building in a mid-block position on a quiet street,” the Urban Design Report by <a href="https://www.apartments.com.au/architects/mhn-design-union">MHN Design Union</a> (MHNDU) states.&nbsp;

“It will form part of a new living environment in this highly desirable location.”

Builder-developer HSN Property Group is also bringing density to the same pocket, planning 54 two- and three-bedroom apartments that will also benefit from the recent Low and Mid-Rise Housing Reforms introduced under the NSW Housing SEPP. 14 of the apartments will be dedicated affordable under the SEPP in the $96 million proposal.

“The site’s location and context make it well suited to support a more diverse and sustainable residential offering in the area,” the developer stated in community consultation materials.

<img alt="HSN" data-entity-type="file" data-entity-uuid="2976efc3-db69-4013-84ef-5acc05bc6f66" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-08%20at%201.14.27%E2%80%AFPM.png?VersionId=A35N4_u2HA7uc_eiLAQedcHdsY_L4ywL" /> 
The plans by HSN for 2-16 Spencer St, Rose Bay

The architecture, led by&nbsp;<a href="https://www.apartments.com.au/architects/mhn-design-union">MHNDU</a>, reflects a "contemporary design approach sensitive to the character of&nbsp;<a href="https://www.apartments.com.au/new-apartments/rose-bay-nsw-2029" target="">Rose Bay</a>." Communal amenities will include a wellness area with a pool and sauna, a gym, a wine lounge, and landscaped spaces with barbecue facilities.&nbsp;

Fyve Developments is breaking into the eastern suburbs for the first time with their $32 million new development in Rose Bay. They are planning 19 apartments on Dover Lane.

Designed by PBD, the new project will comprise four two-bed apartments and 15 three-bed units.

<img alt="Fyve" data-entity-type="file" data-entity-uuid="91ec4820-1e05-4598-8d27-9df42234a52c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-08%20at%201.23.42%E2%80%AFPM.png?VersionId=VtH0oa48nJcvXGiXqjbHJvtYY6zWdIC7" /> 
Fyve's plans on Dover Lane.

Luxcon is also back in the suburb, having previously delivered The Aristocrat back in 2020. They have filed plans for 17 three-bedroom apartments on <a href="https://www.apartments.com.au/new-apartments/2-8-cooper-street-double-bay-nsw-2028">Cooper Street</a>.

Fortis wants to deliver <a href="https://www.apartments.com.au/new-apartments/23-31-dover-road-rose-bay-nsw-2029">49 apartments on Dover Road</a>, an $86 million development. That adds to their <a href="https://www.apartments.com.au/new-apartments/10-12-ian-street-rose-bay-nsw-2029">Ian St, Rose Bay development</a>, which they will likely launch next year.

Joel Robinson

Rose Bay apartment market fires up with $200m in new developments filed

Leading Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has recorded a strong market response at the launch of The Avenues, its $874 million East Zetland precinct.

On its recent launch they sold close to $18 million, predominantly to owner-occupiers, more specifically to families who wanted to be closer to kids and grandkids.

&nbsp;

Apartments sold ranged from $1.8 million to $1.97 million for two bedrooms, and $2.12 million to $2.62 million for three bedrooms.

[smartcode_project:default project_id=146262 project_image_fid=357150]

Located four kilometres from the CBD, <a href="https://www.apartments.com.au/new-apartments/the-avenues-zetland-130-joynton-avenue-zetland-nsw-2017">The Avenues</a> is transforming a 2.87-hectare site into a pedestrian-friendly urban neighbourhood comprising 574 residences across nine buildings designed by <a href="https://www.apartments.com.au/architects/candalepas-associates">Candalepas Associates</a> and <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>.&nbsp;

Surrounded by tree-lined, walkable “avenues”, the precinct’s more than 800 sqm of ground-floor retail brings a lively, Paris-inspired streetscape to the heart of East <a href="https://www.apartments.com.au/developments/zetland-nsw-2017">Zetland</a> and will directly service nearby amenities and the surrounding residential community. 
&nbsp; 
The Avenues will also feature build-to-rent and purpose-built student housing in partnership with Scape, supporting key workers, students and long-term renters in this high-demand corridor.&nbsp;

[smartcode_project:default project_id=146262 project_image_fid=357154]

Deicorp will also contribute more than $16 million to open space improvements, including upgrades to Woolwash and Biyanbing Parks, with The Avenues designed to strengthen pedestrian connections to Green Square Station and Gunyama Park.&nbsp;

Deicorp Founder, Fouad Deiri OAM, said a clear trend was evident, with purchasers driven by proximity to family and lifestyle essentials.&nbsp;

“We’ve seen a clear trend of parents wanting to live close to adult children and students, as well as interstate and international buyers seeking to reconnect with family in Sydney’s inner south,"&nbsp;Deiri said.

“This early sales performance reflects the strength of East Zetland as a connected, high-amenity location and the appeal of homes designed with long-term liveability in mind. Many of these early-stage buyers are repeat Deicorp purchasers, too."

[smartcode_project:default project_id=146262 project_image_fid=357165]

Zetland is one of the top suburbs in Australia to experience an increase in housing density, with its population growing by 24 per cent in as little as three years to over 15,600 residents. According to REA, 197 units were available last month, with over 2300 buyers interested, demonstrating the strong demand for this inner southern pocket of Sydney.&nbsp;

Deicorp’s strong result at The Avenues follows significant spring momentum across its portfolio, with $63 million in combined sales recorded across recent launches for Showground Pavilions in Castle Hill and Falcon &amp; Alexander in Crows Nest.&nbsp;

Construction on The Avenues commenced in June, with the construction period expected to generate 2,700 jobs. Across its portfolio, Deicorp currently has 5,102 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.&nbsp;

Its expanding portfolio of Metro-linked developments includes Tallawong Village, Kings Bay Village in Five Dock, Hyde Metropolitan, and Showground Village, all advancing the company’s long-term commitment to creating vibrant, transit-oriented neighbourhoods.&nbsp;

Apartments start from $955k for a one-bedroom, $1.48 million for a two-bedroom, and $2.04 million for a three-bedroom, all with car parking.

[smartcode_project_cta:default project_id=146262]

Family proximity and connectivity fuel $18m in first-day sales at Deicorp’s East Zetland precinct, The Avenues

Leading property developer <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has officially completed ENSO, its premium boutique residential development in Neutral Bay Village.

Designed by internationally acclaimed architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a> and built by Credence Constructions, ENSO draws inspiration from the Japanese Buddhist philosophy of the same name, a symbol of elegance, strength and enlightenment.

Comprising of just nine one-, two-, and three-bedroom residences, with a full floor four-bedroom penthouse, <a href="https://www.apartments.com.au/buildings/enso-neutral-bay-34-grosvenor-street-neutral-bay-nsw-2090">ENSO</a> combines sculptural form and refined materiality with a minimalist design language that evokes calm, balance and timeless sophistication.

[smartcode_project:default project_id=109705 project_image_fid=355893]

With the occupation certificate now in hand, Abadeen will soon welcome the first residents into their new residences, perfectly timed for Christmas.

Positioned along Grosvenor Street, which has emerged as one of the North Shore’s most exciting dining and lifestyle destinations, ENSO residents will enjoy a true village experience surrounded by Sydney’s best food, retail and culture. Grosvenor Street is home to brand new restaurants including Bombay Bloomers, Pocket Pizza and Fujitori Yakitori &amp; Sake Bar.&nbsp;

Within a one-minute walk of ENSO, a new retail precinct is introducing a curated line up anchored by Dan Murphy’s, together with Bodylove Pilates and the award winning Wholegreen Bakery. Coles is also close by, adding everyday convenience just minutes from the CBD.

[smartcode_project:default project_id=109705 project_image_fid=355895]

“ENSO represents the next chapter in Neutral Bay’s evolution,” said Justin Brown, Executive Chairman and Founder of Abadeen.

“You have Koichi Takada’s architecture on one side of the street and a vibrant new village scene on the other. It is the meeting point of design, lifestyle and community. This project captures what we value on the Lower North Shore: sophistication with a genuine sense of convenience where people want to live.”

Each residence is crafted with premium finishes, generous floorplans and seamless indoor to outdoor living, embracing Takada’s philosophy of organic, nature inspired design. Interiors are composed of soft, neutral palettes and tactile materials that promote calm and connection.

“This is a proud milestone for Abadeen,” Brown added. “ENSO has been carefully designed and delivered, a true boutique project that reflects our ongoing commitment to elevating the architectural and lifestyle experience across Sydney’s Lower North Shore.”

With construction complete and final residences available, ENSO presents a rare opportunity to move into a brand-new home within an established, connected and increasingly vibrant village community.

[smartcode_project_cta:default project_id=109705]

Staff Writer

Abadeen completes ENSO in the heart of Neutral Bay’s fast-evolving village precinct

&nbsp;Developer CPDM is continuing to put its stamp on Sydney's Lower North Shore.

Just a few months after seeking to develop <a href="https://www.apartments.com.au/news/nsw/first-look-neutral-bay-transformation-continues-as-new-eight-level-building-pitched">25 apartments in Neutral Bay</a>, CPDM is now looking to deliver something similar in the neighbouring suburb of Cremorne.

They have gone through the NSW Government's Housing Delivery Authority to file a State Significant Development Application for 32 apartments across an eight-storey building at&nbsp;<a href="https://www.apartments.com.au/new-apartments/57-61-reynolds-street-cremorne-nsw-2090">57–61 Reynolds Street</a>.

Like the majority of development applications being submitted in recent months, <a href="https://www.apartments.com.au/developers/cpdm">CPDM</a> is looking to trigger the affordable housing uplift under the&nbsp;State Environmental Planning Policy (Housing) 2021 guidelines.

<a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, who have worked on the project since its inception. They noted in their design statement that the Reynolds Street frontage more closely resembles the scale of multi-residential buildings in the area, while Gerard Lane has a smaller scale to match the presentation of the existing buildings on that lane.

<img alt="First look: CPDM plans eight-storey affordable apartment project in Cremorne" data-entity-type="file" data-entity-uuid="7ecfa010-8db9-42de-9b8e-0e52d46fe708" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Cremorne%20podium.png?VersionId=EajgchvITAagKkiAksQYy3SAIVpI.i.t" />

The majority of the 32 apartments will be three-bedrooms (27), with the remaining five two-bedroom units.

The building will include two rooftop communal spaces and two basement levels with 51 car parking spaces allocated for residents, visitors, motorcycles, and bicycles.

PBD noted that the project’s “density is thoughtfully planned to be sustainable, capitalising on existing and future infrastructure, access to public transport, the site’s cultural and community value, and its environmental attributes”.

CPDM has been steadily growing its development footprint across Sydney’s North Shore, with previous and current projects in Lindfield, Gordon, and Neutral Bay. Their recent application in Neutral Bay, also designed by PBD Architects, similarly leveraged the Housing SEPP bonus provisions to deliver a mid-rise apartment building with affordable housing units.

First look: Developer CPDM doubles down on Sydney's Lower North Shore

The first new apartment development in Gladesville to offer 10-year Latent Defects Insurance (LDI) protection is soon to welcome its residents.

Respected boutique developer Geron Property has partnered with the Gladesville RSL to deliver Jordan Hall Residences, named after the historic Jordan Hall building on Western Crescent, on the edge of the town centre.

The façade of the original 1938 building has been kept intact by the development team. The Inter-War Free Classical community venue is known for its Art Deco parapet, dual-tone brickwork, and decades of RSL Youth Club activity. The building once anchored the view down Jordan Street, and its façade will continue to do so as the hall becomes the architectural centrepiece of the new residential project.

Innovate Architects has designed a new structure that rises behind Jordan Hall, featuring 29 large-scale apartments that are setting new benchmarks in the suburb.

Local construction company Gauge is putting the finishing touches on the apartments, which are designed primarily for local downsizers. Each apartment features three bedrooms, kitchens with integrated Miele appliances, generous natural light through strategically placed windows, and private outdoor areas.

Beyond the private spaces, the project includes communal areas on the first and seventh levels, positioned to take advantage of Gladesville’s elevated outlook.

<img alt="Jordan Hall" data-entity-type="file" data-entity-uuid="f696a00e-e624-4af7-809c-e10cbf5fb051" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2012.17.43%E2%80%AFPM.png?VersionId=AwWxRbU92OMu0kMwFzaTbFO3qtwEr7go" />

Jordan Hall will be the first new apartment development in Gladesville with Latent Defects Insurance, a new insurance policy that gives peace of mind for off the plan buyers when it is secured by the builder or developer of the new building.

Offered by Resilience Insurance, LDI is a first-right insurance product that protects purchasers from structural or waterproofing defects within the first 10 years after completion. Geron Property's adoption of the policy aligns with broader industry movement toward more rigorous assurances and supports buyer expectations around long-term asset performance.

Geron Property, led by Tom Zarimis, is intending on taking out the policy on its next project, a luxury development on Cronulla's Gerrale Street.

Zarimis appointed&nbsp;Adobe Property Agents to sell Jordan Hall Residences. There are just a handful of apartments remaining.

Read more: <a href="https://www.apartments.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

Geron Property, Gladesville RSL, approach completion of Jordan Hall Residences, Gladesville's first new apartment building with Latent Defects Insurance

Urbis

The Gold Coast apartment boom may have come off its 2021 highs, but solid sales reported in first three months of the year reveal continuing momentum as new apartment supply hits a record low.

Data compiled by property consultancy shows the Gold Coast recorded 377 new apartment sales in the March quarter, well off the 2021 high of 742 in the equivalent quarter last year.

The result also falls short of last year&rsquo;s low of 450 sales for the June quarter.

[smartcode_project:default project_id=102451 project_image_fid=186075]

Despite 11 new projects launching during the quarter the data continues to highlight the ongoing shortage of new apartments with just 411 new apartments remaining for sale at the end of March, which is the lowest number ever recorded by Urbis since it began monitoring the new apartment market in 2014.

Based on the current quarterly sales rate, the Gold Coast has just 3.3 months of supply remaining, although Urbis notes that this figure will change once a number of large-scale projects are released to the market over the coming months.

&ldquo;Sales have certainly eased off their 2021 highs in the latest quarter, but that&rsquo;s not unexpected considering the high levels achieved last year,&rdquo; said Urbis director Lynda Campbell.

&ldquo;The key statistic this quarter is the drop in the number of apartments for sale to a record low, which shows the supply side is still failing to keep up with demand. It&rsquo;s unclear whether the supply shortage had any bearing on overall sales for the March quarter as the urgency to buy that we saw in 2021 is showing signs of easing.

[smartcode_project:default project_id=108747 project_image_fid=190743]

&ldquo;However, there are several large projects coming to the market and we will be watching these sales closely as the market digests rising interest rates and any new initiatives at the federal level.

&ldquo;The obvious concerns surrounding construction costs and supply chain issues means that we do not expect to see as many projects make it out of the ground as in previous years while volatility and viability are managed.&rdquo;

Off the back of an impressive run of sales last year with a record 2,492 new apartments sold, the current quarterly sales rate could translate into another high-performing year the market.

Prior to 2021, the Gold Coast market absorbed an average of 1,100 new apartments a year with a high of 1,600 in 2015 and a low of 800 in 2017. If the March-quarter sales of 377 are repeated throughout the year, 2022 is on track to becoming the third biggest year for sales behind 2015.

&ldquo;The dominant buyer profile for Gold Coast apartments remains owner occupiers looking for larger apartments,&rdquo; said Campbell.

[smartcode_project:default project_id=106646 project_image_fid=184787]

&ldquo;Almost a third of the sales &ndash; about 31 per cent &ndash; were at price points above $1 million, which reflects the general increase in apartment values.&rdquo;

The Gold Coast Central precinct, which includes Southport, Surfers Paradise and Broadbeach, had the highest number of sales in the March quarter with 243 sold, followed by the North Shore, which includes Hope Island, where all 90 sales were made.

The Coastal Fringe precinct and the Southern Beaches precinct &ndash; which is from Mermaid Beach to Coolangatta &ndash; both saw a drop in sales, with the Southern Beaches precinct falling to 27, the lowest since late 2017.

Urbis puts the drop in sales across these areas down to limited supply, with just 67 apartments remaining in the Southern Beaches precinct at the end of March.

Data compiled by property consultancy shows the Gold Coast recorded 377 new apartment sales in the March quarter, well off the 2021 high of 742 in the equivalent quarter last year.



alisonwarters@gmail.com

Gold Coast apartment market down but not out as supply hits new record low 

<html><body>
Sales results from 195 projects representing a sample of 23% of active apartments surveyed across Perth, Brisbane, The Gold Coast, Sydney and Melbourne study areas. 
2,300 projects monitored across all stages of potential new supply.
Data in the second quarter of 2020 (April to June) represents the first full quarter of COVID-19 trading in Australia following measures introduced in March to contain the virus.
Impact on off the plan sales can be seen with the clearance of available stock dropping to 10% as a national average. Whilst this represents a 5 percentage point drop on the previous quarter (which registered 15%), the speed of sale for the quarter remains comparable to the average over the last 18 months (10%).
Prior to COVID19 the apartment market was showing signs of momentum on the back of wider housing market growth. The first signs of impact from COVID-19 are visible in the second quarter, although demand levels have remained at similar levels seen this time last year in Q2 2019 data. 
New Apartment Rents
Data from the Urbis Rental Tracker shows well located new apartments continue to attract a premium over the wider market rent but have also been impacted in the short term by restricted people movement and economic challenges.
New product rents peaked in February in most markets nationally.  Rapid drops in rent were seen in March (6%) and April (3%) as inner-city markets were hit by a halt to in-migration and a spike in listings (average listing volume is 14% up on this time last year).  However, this quickly stabilised in June and July indicating the rental market has been able to adjust to supply and demand conditions rapidly. 
New Apartment Supply
New Project Launches have continued to decline, enabling existing stock to be absorbed. Only 23 new projects launched nationally in Quarter 2 2020 – compared to 60 projects a year ago in Quarter 2 2019.
Data for the first half of 2020 follows a continued downward trend. If the current rate of launches were to continue for the remainder of 2020 this would bring the annual total to around half the volume of projects launched in 2019, which was already half the average of the previous four years.
With the volume launching, in marketing and under construction all diminishing, market attention switches to absorbing newly completed stock. This offers buyers the advantage of viewing the finished product and suits those residents seeking a move in the short term. Owner occupiers were the most active purchaser group in each state surveyed in the quarter.
Across all projects there is an overall reduction in volume selling of 8% compared to this time last year with further reductions in volume to come given the declining launch rate.
Change in volume of apartments selling nationally by project status
While the apartment market adjusts to changing conditions, any associated reduction in housing delivery impacts upon economic activity in the short term and housing supply and affordability in the longer term.  Therefore, we expect stimulus and innovation to be in focus in the year ahead as industry and government seek to sustain housing production throughout the cycle.
This presents opportunities to stimulate build to rent housing supply and more diverse tenure options that help meet the absorption of current stock and affordability needs of customers.
The Melbourne market
Like the national results, speed of sale dropped in Melbourne from 11% of available stock clearing in Q1 2020 to 9% in Q2 2020 as prices held firm.
The apparent resilience of the market, much like the people of Melbourne will continue to be tested throughout the lockdown periods of 2020.
The supply story in Melbourne was mixed for the quarter. The volume of new project sales launches continued to trend down, with only 6 new projects launched in the quarter, compared to a quarterly average of 19 throughout 2019. However, approvals increased in the quarter to levels last seen in Q4 2018.
This bucking of the trend on approvals reflects the proactive response from government in fast-tracking shovel ready projects and the confidence of the development industry in Melbourne’s future.  This is encouraging for supporting future supply as the market recovers ground from the pause on demand placed by border and movement restrictions.
We expect further engagement will benefit housing delivery in this part of the cycle to drive economic activity in the short-term and speed up Melbourne’s response to future changes in demand.
National Build to Rent Insights
There has been an inverse between the build to sell apartment pipeline and that for Build to Rent, with build to sell supply declining and build to rent gaining momentum. 
We have seen decreasing rates of sale of available stock (exacerbated by COVID 19), leading to the increasing supply in apartments. 
Developers are shifting to Build to Rent, as an option to diversify their portfolio and reduce financial risk, while also moving sights quicker while there is minimal traction in the build to sell market.
APARTMENT SALES DOWN IN Q2 BUT SHOWING SIGNS OF RECOVERY New Apartment SalesSales results from 195 projects representing a sample of 23% of active apartments surveyed across Perth, Brisbane, The Gold Coast, Sydney and Melbourne study areas. 2,300 projects monitored across all stages of potential new supply.Data in the second quarter of 2020 (April to June) represents the first full quarter of COVID-19 trading in Australia following measures introduced in March to contain the virus.Impact on off the plan sales can be seen with the clearance of available stock dropping to 10% as a national average. Whilst this represents a 5 percentage point drop on the previous quarter (which registered 15%), the speed of sale for the quarter remains comparable to the average over the last 18 months (10%).Prior to COVID19 the apartment market was showing signs of momentum on the back of wider housing market growth. The first signs of impact from COVID-19 are visible in the second quarter, although demand levels have remained at similar levels seen this time last year in Q2 2019 data. New Apartment RentsData from the Urbis Rental Tracker shows well located new apartments continue to attract a premium over the wider market rent but have also been impacted in the short term by restricted people movement and economic challenges.New product rents peaked in February in most markets nationally.  Rapid drops in rent were seen in March (6%) and April (3%) as inner-city markets were hit by a halt to in-migration and a spike in listings (average listing volume is 14% up on this time last year).  However, this quickly stabilised in June and July indicating the rental market has been able to adjust to supply and demand conditions rapidly. New Apartment SupplyNew Project Launches have continued to decline, enabling existing stock to be absorbed. Only 23 new projects launched nationally in Quarter 2 2020 – compared to 60 projects a year ago in Quarter 2 2019.Data for the first half of 2020 follows a continued downward trend. If the current rate of launches were to continue for the remainder of 2020 this would bring the annual total to around half the volume of projects launched in 2019, which was already half the average of the previous four years.With the volume launching, in marketing and under construction all diminishing, market attention switches to absorbing newly completed stock. This offers buyers the advantage of viewing the finished product and suits those residents seeking a move in the short term. Owner occupiers were the most active purchaser group in each state surveyed in the quarter.Across all projects there is an overall reduction in volume selling of 8% compared to this time last year with further reductions in volume to come given the declining launch rate.Change in volume of apartments selling nationally by project statusWhile the apartment market adjusts to changing conditions, any associated reduction in housing delivery impacts upon economic activity in the short term and housing supply and affordability in the longer term.  Therefore, we expect stimulus and innovation to be in focus in the year ahead as industry and government seek to sustain housing production throughout the cycle.This presents opportunities to stimulate build to rent housing supply and more diverse tenure options that help meet the absorption of current stock and affordability needs of customers.The Melbourne marketLike the national results, speed of sale dropped in Melbourne from 11% of available stock clearing in Q1 2020 to 9% in Q2 2020 as prices held firm.The apparent resilience of the market, much like the people of Melbourne will continue to be tested throughout the lockdown periods of 2020.The supply story in Melbourne was mixed for the quarter. The volume of new project sales launches continued to trend down, with only 6 new projects launched in the quarter, compared to a quarterly average of 19 throughout 2019. However, approvals increased in the quarter to levels last seen in Q4 2018.This bucking of the trend on approvals reflects the proactive response from government in fast-tracking shovel ready projects and the confidence of the development industry in Melbourne’s future.  This is encouraging for supporting future supply as the market recovers ground from the pause on demand placed by border and movement restrictions.We expect further engagement will benefit housing delivery in this part of the cycle to drive economic activity in the short-term and speed up Melbourne’s response to future changes in demand. National Build to Rent Insights There has been an inverse between the build to sell apartment pipeline and that for Build to Rent, with build to sell supply declining and build to rent gaining momentum. We have seen decreasing rates of sale of available stock (exacerbated by COVID 19), leading to the increasing supply in apartments. Developers are shifting to Build to Rent, as an option to diversify their portfolio and reduce financial risk, while also moving sights quicker while there is minimal traction in the build to sell market. 
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Apartment sales showing signs of recovery: URBIS

<html><body>
It’s a great accomplishment to win best design for Sydney CBD’s first new luxury hotel in two decades, but to receive the unanimous vote from a 6-jury panel of experts makes this accolade even more remarkable.

Woods Bagot were among six architectural design firms to be given a brief by Urbis (in accordance with the <a href="https://www.cityofsydney.nsw.gov.au/__data/assets/pdf_file/0004/128065/Competitive-design-policy-adopted-09-December-2013.pdf">City of Sydney Competitive Design Policy 2013</a>) to produce a design for a new luxury city hotel for the central Sydney site owned by Singapore-based investment company SC Capital Partners Group. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydneyhotel6.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="365" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/sydneyhotel6.jpg?itok=9qzTlDin" width="580"></a>

<figcaption>Woods Bagot award-winning design entry for new Sydney hotel. Credit: Woods Bagot</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydneyhotel1.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="590" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/sydneyhotel1.jpg?itok=ZJ9Vos9e" width="580"></a>

<figcaption>The hotel will be operated by Andaz Hotels by Hyatt. Credit: Woods Bagot</figcaption></figure><blockquote>
“The Woods Bagot entry displayed a masterful architectural clarity and precision throughout the scheme.”

- Graham Jahn AM, City of Sydney’s director of City Planning, Development and Transport
</blockquote>

The sleek 55-storey skyscraper will complement its neighbouring heritage buildings (Sofitel &amp; CML Building), and has been designed with a focus on embracing Sydney’s natural environment to obtain the title of Australia’s first WELL-rated hotel.

<blockquote>
“In Sydney, we feel that nature is only ever held back, and if it were left unchecked it would quickly reclaim its domain – oozing like jam or glue into every crevice. Green walls, unexpected roof gardens, trees and generous landscaping at street level are part of the building’s integrated sustainability strategy.”

- Ian Lomas, Principal and Sydney studio Design Leader of Woods Bagot.
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydneyhotel2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/sydneyhotel2.jpg?itok=Pi3B0mNT" width="580"></a>

<figcaption>Street level entranceway. Credit: Woods Bagot</figcaption></figure>At ground level, the hotel entry can be accessed via an elegant garden porte-cochére, where Sydneysiders and hotel guests are invited to enjoy retail stores and co-working spaces. The building also features a nine-level commercial office podium set within a tranquil garden and offering a clubroom with a pool, wellness centre and childcare facilities.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney6.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/sydney6.jpg?itok=KCGM1p8u" width="580"></a>

<figcaption>Sydney's Short Lane development. Credit: The Australian</figcaption></figure>Back in 2017, Woods Bagot completed Sydney’s <a href="https://www.woodsbagot.com/projects/short-lane">Short Lane development</a>, a design that draws on a strong connection to nature, utilising innovative planning to create a lush environment. This idea has been mirrored in the hotel design, to create an ‘urban oasis’ in the heart of the city.

<blockquote>
“Ultimately, each solution is bespoke for its location and I think that's that 'magic' that gives it a real spirit as a place, rather than it being something that lacks any sense of identity and could be anywhere. For us it's fundamental that there's a strong contextual connection back to its neighbourhood”

- Peter Miglis, via Urban's <a href="/news/discussing-apartment-design-with-woods-bagots-peter-miglis">'Discussing apartment design with Woods Bagot's Peter Miglis'</a>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydneyhotel5.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="464" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/sydneyhotel5.jpg?itok=DPXpB-PO" width="580"></a>

<figcaption>Spectacular views of the city skyline. Credit: Woods Bagot</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydneyhotel3.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="848" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/sydneyhotel3.jpg?itok=mmp2uRqC" width="580"></a>

<figcaption>The 226 meter structure contains 55 floors making it the city's tallest hotel. Credit: Woods Bagot</figcaption></figure>Guest suites then rise up the building, boasting incredible city views from every angle. The hotel reception and public sky deck can be found on level 15, and at the crown, a rooftop restaurant, bar and garden provide spectacular 360º views of Sydney Harbour, the Heads and parks.

<blockquote>
“The building will be instantly recognizable from every angle, as the tower changes form and emphasis in response to context, orientation and internal function,”

- Ian Lomas, Woods Bagot Principal
</blockquote>

The build will take place at 4-6 Bligh Street, and is due for completion September 2022.
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Olivia Round

Woods Bagot impresses judges with design for Sydney’s first new luxury hotel in 20 years

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<a href="/news/dealcorp-gains-approval-for-gardiner-station-development">Urban.com.au recently highlighted the approval</a> of DealCorp's new $100 million project - Glenarm Square - which will transform the forecourt of the newly revamped Gardiner Station in Glen Iris into a thriving new community space featuring a diverse range of planting and tree canopies.

Today's piece focuses on the public realm aspects of the development, with the 2,000 sqm plaza supported by an activated ground plane of commercial businesses. Theses retail and commercial tenancies will occupy 1,000 sqm spread across two levels comprising a café, a deli/grocer, and a provedore. 

The new precinct will service the residents of the 120 apartments within the seven-storey residential building, and continues the growing trend of new developments based around train stations and rail environments. These new transit and community hubs assist in activating previously underutilised spaces and creating destinations along Melbourne's rail network. 

Upon completion in 2021, Glenarm Square will provide residents and visitors to Glen Iris with a new village square, with formal and informal seating dispersed throughout the precinct, creating spaces which encourage social interaction and congregation. The project has been designed by Plus Architecture and Hecker Gutherie, in combination with Urbis and DealCorp.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/gardinerstation_s020_ext_retaildusk_final.jpg" rel="gallery-all" title="The interface between the public realm and built form. Image: DealCorp"><img alt="" class="image-article-full-width-580px" height="264" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/gardinerstation_s020_ext_retaildusk_final.jpg?itok=m_bR-qgC" title="The interface between the public realm and built form. Image: DealCorp" width="580"></a>

<figcaption>The interface between the public realm and built form. Image: DealCorp</figcaption></figure>Planning and design consultancy Urbis has been involved in the project for the past four years, working closely with the Level Crossing Removal Authority, John Holland, KBR and Grimshaw. Urbis provided planning, urban design and landscape architectural services throughout the design and delivery process.

Additionally, Urbis was responsible for assessing the uplift potential of surplus land created along the rail corridor via the provision of valuation and feasibility analysis. On Glenarm Square, Urbis sought to create a permeable civic space where residents and travellers feel safe in a thriving and engaging communal space.

According to DealCorp, the amenity and growth of Glen Iris was a significant consideration in the planning of the precinct. The Residences at Glenarm Square adopts a dual façade approach which relates and responds to adjacent streetscape conditions and materiality with vertical articulations referencing the shop fronts along Burke Road.

Residents within the residential building will have access to a gym, 15m indoor pool, communal lounge and business centre for residents, and a communal kitchen and dining area that has been created in collaboration with renowned Melbourne chef Shane Delia.

DealCorp are preparing to start construction on Glenarm Square in 2019.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/gardinerstation_s050_ext_glenarmsthero_final_0.jpg" rel="gallery-all" title="The Residences at Glenarm Square. Image: DealCorp"><img alt="" class="image-article-full-width-580px" height="526" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/gardinerstation_s050_ext_glenarmsthero_final_0.jpg?itok=z7BfSOmc" title="The Residences at Glenarm Square. Image: DealCorp" width="580"></a>

<figcaption>The Residences at Glenarm Square. Image: DealCorp</figcaption></figure><h2>What they say...</h2>

<blockquote>
We have designed Glenarm Square to bring the station to life, creating an exciting new destination and activating it from morning until night instead of confining the activity to peak travel times. Glen Iris is one of most in-demand suburbs in Melbourne’s inner east. Glenarm Square will regenerate and repurpose the currently unused land adjacent to Gardiner Station and create much-needed amenity for the community.

- David Kobritz, DealCorp Executive Chairman
</blockquote>

 

<blockquote>
The key was finding the balance. Creating active edges with visibility from Burke Road through to Glenarm Road, and defining boundaries which are also permeable and visually appealing to draw people into the centre of the square,” said Haack. We achieved this through our use of materials such as perforated screening and designing an elevated concourse that integrates with the station.

- Peter Haack, Director, Urbis 
</blockquote>
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Laurence Dragomir

Glenarm Square to transform Gardiner Station into a thriving community space

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Woods Bagot has designed a new $31 million pier and lift structure which form key elements of the Urbis-led Master Plan for the Rockhampton Riverside Precinct. The project seeks to revitalise the riverside district by maximising the potential of the previously neglected area and transforming it into a hub of community activity.

The riverside pier employs materials that reference the community’s historical past of gold, silver and copper mining in a contemporary way, but just as importantly also represents an economic and cultural rebirth following the damage caused by Cyclone Maria in 2015.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/150193_n17_screenhd.jpg" rel="gallery-all" title="The riverside pier and lift structure which form the Rockhampton Riverside Precinct. Image: Florian Groehn"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/150193_n17_screenhd.jpg?itok=YuetYOO8" title="The riverside pier and lift structure which form the Rockhampton Riverside Precinct. Image: Florian Groehn" width="580"></a>

<figcaption>The riverside pier and lift structure which form the Rockhampton Riverside Precinct. Image: Florian Groehn</figcaption></figure>According to Woods Bagot, the riverside precinct has become a destination in its own right not just within Rockhampton but also regional Queensland. As part of the Master Plan, the site has become a public urban park comprising a playground, playful water features, amenities, local artwork, terraced landscaping, and places for shade and outdoor seating.

As part of the design response, the architects drew on and incorporated multiple influences from nearby sites, natural landscapes, and local industries which combined to form the overall composition of the two-story public building.

The 300 sqm building features a public landing on the lower ground level, while the main concourse accommodates a modern restaurant serving fresh seafood and seasonal produce. 
Additionally, the design also draws on the local vernacular forming a direct relationship with the quintessential ‘Queenslander’, with its large overhanging roof providing solar shading while allowing for uninterrupted views of the natural landscape.

The building’s linear shape and industrial aesthetic draw heavily from the steel Fitzroy Bridge to the North, while Mount Archer’s mining history inspired the form of the rich, earthy colour scheme.

The natural materials palette of stone, timber, metal, and glass allowed local craftsmen to assemble elements by hand using traditional methods. Profiled weathered metal 'blades' flank the building and allow for views of the surrounding 19-hectare parkland while providing respite from the sun’s heat.

The 'breezeway' as the name suggests allows cool breezes to flow through and ventilate the building naturally, while the building’s vertical lift responds to the location’s subtropical climates and flood-prone coast, acting as they way-finder to the site, alluding to the masts of ships.

Clad in Corten steel, the lift's robust exterior reflects the rich tones of the landscape and the history of copper, gold and silver mining in the area.

Solar panels on the roof generate green electricity which is fed back into the local power grid, while electric vehicle charging and bicycle maintenance stations are available throughout the park.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/150193_n11_screenhd.jpg" rel="gallery-all" title="The design draws on the local vernacular and landscape. Image: Florian Groehn"><img alt="" class="image-article-full-width-580px" height="410" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/150193_n11_screenhd.jpg?itok=vZoRH4G_" title="The design draws on the local vernacular and landscape. Image: Florian Groehn" width="580"></a>

<figcaption>The design draws on the local vernacular and landscape. Image: Florian Groehn</figcaption></figure><h2>What they say</h2>

<blockquote>
Rockhampton Riverside Precinct has become a destination for everyone to visit, occupy and enjoy. The vision of restoring the energy from the gold period has been realised along with the aim to provide the people of Rockhampton with a world-class civic and recreational space.

The finished design delivers over 30,000 m2 of public space, tripling the amount of civic and open space that previously existed.

Putting people at the centre of the design process is always where we start, and this is exactly the outcome we planned for – creating a special place for community gathering and to drive a groundswell of local pride in the city.

- Mark Damant, Woods Bagot Principal
</blockquote>

<blockquote>
Urbis worked with Rockhampton Regional Council on the redevelopment of the Riverside Precinct, a world-class waterfront area on the shores of Queensland’s Fitzroy River. 

The design incorporates playground areas, river lookouts, shaded walkways and gathering spaces. A streetscape along iconic Quay Street integrates the city’s edge with the riverbank parklands.

(The) design will revitalise and activate Rockhampton’s iconic riverside precinct by establishing a high quality realm space that will be widely celebrated and used by the community. 

- Urbis
</blockquote>

 
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Woods Bagot and Urbis revitalise Rockhampton Riverside precinct

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The latest Urbis data on new apartment supply indicates the Brisbane market registered a big drop in apartment approvals during the first quarter.
It was down from 2686 in the previous quarter to just 306 new approved apartments.
The number of new Brisbane apartment projects launched plummeted to just 12 in 2017 compared with 57 in 2016.
Urbis director of property economics and research, Mark Dawson, said it was "clear the market is self-regulating".
"Though launches have slowed. the appetite for quality new apartment product is still there, and with the right mix of product, price and marketing, developers are able to successfully launch new developments to the public" he told Fairfax Media.
<div>
Debt investment manager MaxCap Group recently took over Invesco's debt in AMP's Skytower apartment project in Brisbane.
The US funds giant Invesco lent about $160 million in 2016 to develop the city's next tallest tower where the first stage of apartments is currently settling.
The tower will rise 90 storeys with 1128 apartments.
MaxCap's newly appointed investment director for NSW, QLD, ACT Eddie Law said the lender had confidence in the Brisbane apartment market.
</div>
<div>
"From a supply perspective, we are seeing a number of projects in the pipeline being pushed back or put on hold.
"New apartment completions appear to have peaked last year, with a reduced forward pipeline helping to stabilise apartment prices."
MaxCap's Eddie Law said the price of Brisbane apartments also remained affordable relative to other cities.
</div>
<div>"Average median apartment prices in Brisbane are 80 per cent more affordable than Sydney apartments and 37 per cent more affordable than Melbourne apartments."</div>
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Brisbane new apartment approvals see big drop in supply

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As far back as 2015, there was a discernible shift in buyer sentiment throughout Melbourne's apartment market.

Articles over the course of 2015 <a href="/news/is-melbournes-apartment-boom-concentrated-in-the-inner-city">here</a>, <a href="/news/buyer-sentiment-what-the-market-is-telling-us">here</a> and <a href="/news/bellers-andrew-fawell-on-the-spring-property-market-and-prevailing-trends">here</a> from a variety of industry voices, combined with Apartments.com.au's accumulation of Project Database information confirmed that an increasing number of Melbourne apartment buyers favoured middle ring suburbs over the traditional CBD, Docklands and Southbank trio.

Industry consultancy Urbis <a href="/news/urbis-quantifies-the-apartment-shift-to-melbournes-middle-and-outer-suburbs">underlined this trend during 2017</a>, quantifying the increased push of apartments into Melbourne's middle and outer ring suburbs. This went hand in hand with investor grade apartment stock ceding to owner-occupied projects.

Now Urbis’ latest Apartment Essentials report for the December quarter 2017 once again confirms the continuing trend, albeit in a softer apartment market. Urbis assert that although new apartment project launches have further stagnated, the new sales rate has increased.

Urbis formulated its findings based upon 47 off the plan projects sampled in the December 2017 quarter, amounting to 9,692 apartments, in addition to keeping tabs on the status of 177 actively selling projects around Melbourne.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image96_3.jpg" rel="gallery-all" title="Kokoda Property Group's The Mowbray is representative of in demand apartment living"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image96_3.jpg?itok=wvfp0bC8" title="Kokoda Property Group's The Mowbray is representative of in demand apartment living" width="580"></a>

<figcaption>Kokoda Property Group's The Mowbray is representative of in demand apartment living</figcaption></figure>Urbis research shows that an expected slowdown in the third quarter of 2017 - due to stamp duty changes - did eventuate, although sales activity increased in the fourth quarter to near equivalent levels in the corresponding 2016 period.

Of the 47 surveyed projects selected from inner and middle Melbourne, 70% of projects managed to sell 70% or more of their available stock. 

Existing stock was moved relatively easily due to the restricted release of new apartment projects across Melbourne. Urbis note that four new projects amounting to 1,828 apartments launched in inner Melbourne during the December quarter, which in terms of total apartment numbers comfortably outpaced the previous quarter.

<h2>Bedroom breakdown</h2>

Unsurprisingly two-bedroom, two-bathroom apartments were the most popular product type in the December 2017 according to Urbis, accounting for 47% of sales. Single bedroom apartments with a car park were next in line, accumulating 23% of sales in the quarter.

<blockquote>
 Both of these product types increased from the previous quarter, with fewer two-bedroom, one-bathroom and one-bedroom, zero car park apartments transacting compared to the previous quarter.

Two-bedroom, two-bathroom apartments were the most popular product type in the Inner East, Inner South, Inner West and middle-ring precincts. However, the Inner North precinct recorded a majority of one-bedroom apartments with a car park and the Central precinct recorded the majority of sales of one-bedroom apartments without a car park.
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/meilleur_malvern.jpg" rel="gallery-all" title="Millieur Malvern's apartment formats target owner occupiers"><img alt="" class="image-article-full-width-580px" height="266" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/meilleur_malvern.jpg?itok=z6zjKB_d" title="Millieur Malvern's apartment formats target owner occupiers" width="580"></a>

<figcaption>Millieur Malvern's apartment formats target owner occupiers</figcaption></figure><h2>Apartments.com.au analysis</h2>

There are currently 306 apartment projects noted as being at registrations or sales within the Apartments.com.au Project Database.

The trend in recent years has seen a greater number of developers gravitate to Stonnington and Boroondara above all other municipalities, where demand for quality owner-occupier stock as at its greatest. Suburbs such as Hawthorn, Kew, Malvern, Glen Iris and Toorak are all sporting a relatively high number of apartment projects available for purchase.

The overall Stonnington and Boroondara number of projects which are at sales but yet to reach construction stands at 55.

Comparatively Yarra, Moreland and Port Phillip and Moonee Valley combined have 59 apartment projects at sales.

<h2>Urbis Melbourne Apartment Essentials Q4 2017 snapshot</h2>

<ul>
<li>Urbis assessed sales from 47 off the plan projects comprising a total dwelling stock of 9,692 apartments</li>
	<li>In 159 monitored selling projects in Inner Melbourne, over 16,000 apartments are in Presales (48%) and a further 35% have commenced construction.</li>
	<li>Urbis recorded 344 off the plan sales in the December 2017 quarter. Of these, 54% were in the Inner Melbourne area, while 46% were recorded in Melbourne’s middle ring.</li>
	<li>Within Inner Melbourne, 48% of sales were recorded in the Inner North Precinct, followed by the Central Precinct (21% sales), Inner East (18% of sales), Inner West (11% sales) and Inner South (2% sales).</li>
	<li>The weighted average sales price for the December 2017 quarter was $692,592 for the Inner Melbourne precincts and $588,114 for the middle ring.</li>
	<li>Two-bedroom, two-bathroom product accounted for 47% of total sales across Inner and Middle Melbourne, and 40% of total sales in Inner Melbourne (compared to 27% in the previous quarter). One-bedroom apartments across Inner and Middle Melbourne accounted for 35% of total sales, though this quarter a larger majority contained a car park.</li>
	<li>Four new projects amounting to 1,828 apartments launched in Inner Melbourne this quarter, compared to five new projects amounting to 1,119 units in the previous quarter.</li>
</ul>
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silvermb

Urbis affirms Melbourne's affinity with the middle ring

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Rental yields for new apartments in Adelaide City, or the innermost locality of Greater Adelaide,  are beating Melbourne and Sydney, according to the latest Urbis Intelligence Report.
Adelaide City has a unit rental yield of 5.4 per cent, which is 0.9 per cent higher than Metropolitan Adelaide’s average of 4.5 per cent.
Metropolitan Sydney has an average gross yield 3.8 per cent while Metropolitan Melbourne has 4.1 per cent gross yield, according to data sourced from APM PriceFinder.
“Adelaide is very affordable compared to other Australian cities and the yields are also outpacing their eastern seaboard counterparts,” said Alex Stuart, associate director at Urbis.
Stuart added that Adelaide’s CBD apartment market was booming with buyers cashing in on the boom times.
Both owner occupiers and investors are active, with West Franklin witnessing multiple purchases.
The first stage of West Franklin is located on the corner of Elizabeth and Franklin Streets and has 271 apartments spread across two towers of 20 and 18 storeys each.
The project is also close to the bio-medical precinct, China Town and Central Markets, which would mean strong rental demand.
APM PriceFinder’s data also shows that Adelaide City’s new apartment products are attracting significantly higher weekly rental rates.  
The median weekly rental rate for new one and two bedroom apartments are higher than existing apartments.
For a one-bedroom unit, the median weekly rental rate is $380 per week, which is 21 per cent higher than an existing one bedroom apartment ($315).
Similarly, new two-bedroom apartments have a median rental of $460, well above the $430 for existing apartments.
“Over the past five years, the new apartment market in Adelaide has been strong with population growth having helped underpin demand in the inner city,” Stuart added, pointing to a trend towards higher density living. 
Jobs are increasingly located in the city centre which is where professionals like to live.
Residential facilities in the podium area, adjoining the two towers include a wet edged pool, gym, a landscaped barbecue area exclusive cinema and shared library/office.
The north tower’s level 20 boasts a roof top terrace and bar, indoor/outdoor seating and fireplace for residents.
Construction is underway with Stage one due to be completed early 2019.
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New apartments in Adelaide CBD area fetch higher rental yields than Sydney, Melbourne

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Melbourne's apartment market is showing signs of maturing, with more new sales occurring outside the CBD than in the city centre.
It was for the first time, the latest figures from consultancy Urbis show.
As many as 267 unit sales, or 58 per cent of the March quarter's total, were in the middle ring of the Victorian capital.
Within the city's inner ring most sales were outside the central precinct, Urbis's Melbourne Apartment Essentials Q1 2017 report calculated.
One-bedroom, one-bathroom, one-car product accounted for 18% of total sales.
The advisory noted Victoria has undershot NSW in the number of new apartments over the past decade.
The southern state approved 227,500 new units over the decade to April while north of the border the equivalent figure was 255,150.
Melbourne's apartment boom has been more concentrated in the city centre while Sydney's growth has always been more dispersed across the metropolitan area.
<a href="https://www.propertyobserver.com.au/images/2017/07/10/MelbActiveSupply.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/10/MelbActiveSupply.png" alt="">
Uris suggest the picture in Melbourne is changing.
"Apartment living is no longer just for CBD dwellers," said Urbis director of property economics and research Mark Dawson.
"Moonee Ponds, Heidelberg and Footscray are all markets that we have seen emerge over the past few years."
Mr Dawson expects project launches, and sales volumes, to drop back as the market continues to self-regulate.
“We expect to see fewer project launches which will ensure the market maintains a healthy balance of supply and demand.”
“Of the projects we monitor, 82% of stock has been sold.
"At this stage of the market it is not about a large reduction in sales or drop in price, but a change in the type of sales we are seeing and where apartments are selling.”  
The apartment spread is changing within inner-city Melbourne as well. Sales in suburbs, such as Carlton in the inner north, exceeded those in the city's centre for the first time, the report also shows.
<a href="https://www.propertyobserver.com.au/images/2017/07/10/MelbQtrPrice.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/10/MelbQtrPrice.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/07/10/MelbSales.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/10/MelbSales.png" alt="">
"Precincts like the inner north, which captured 43 per cent of total inner Melbourne sales, are well set up for apartment living," Dawson said. "They provide residents with easy access to transport and neighbourhood character, as well as an affordable entry-point to the market."
Melbourne apartment sales are down, Urbis said.
Four new projects launched during the quarter, for a total 1471 units, while a year earlier 2878 units were launched across 14 projects.
The average weighted sales price of apartments in the March quarter gained $44,476 from December to $706,391, boosted by an increase in the proportion of two-bedroom, two-bathroom apartments. This reflected a growing demand by owner-occupiers compared with investors, Mr Dawson said.
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jonathanchancellor-7SQnKwU6yx

New apartment sales in Melbourne suburbs beat CBD deals: Urbis 

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Property consultants Urbis in their latest Melbourne Apartment Essentials report have provided hard data affirming what many at the coal face of Melbourne's apartment industry have known for some time; apartments have well and truly established themselves in Melbourne middle and outer ring suburbs.

What wasn't known was the degree to which apartment living has taken root in traditionally detached housing areas.

According to Urbis, the March 2017 quarter saw for the first time apartment sales outside the inner city outweigh the more established inner city zone. That is, 58% of apartment sales were registered outside the inner city; a first since Urbis began the Melbourne Apartment Essentials series.

<blockquote>
Apartment living is no longer just for CBD dwellers, and precincts like the Inner North, which captured 43% of total inner Melbourne sales, are well set up for apartment living. They provide residents with easy access to transport and neighbourhood character, as well as an affordable entry-point to the market.

Moonee Ponds, Heidelberg and Footscray are all markets that we have seen emerge over the past few years.
<cite>Mark Dawson, Director of Property Economics and Research, Urbis</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_1671.jpg" rel="gallery-all" title="Strengthening sales has led to strong a robust suburban apartment construction scene"><img alt="" class="image-article-full-width-580px" height="360" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_1671.jpg?itok=ss_t0zuM" title="Strengthening sales has led to strong a robust suburban apartment construction scene" width="580"></a>

<figcaption>Strengthening sales has led to a robust suburban apartment construction scene</figcaption></figure>According to Dawson, the increase in apartment activity in middle and outer suburbs can be attributed to destination amenity coupled with infrastructure investment. Add a tightening market for suitable inner city development sites, and the trend of apartments pushing further away from Melbourne's core is expected to continue.

Urbis also cites the shift in buyer preferences as being attributable to push and pull factors. Push factors include a mutually reinforcing market push that nudges purchasers and developers beyond their feasibility thresholds to explore new areas. At the same time, Urbis asserts that pull factors revolve around city-wide urban renewal points such as Sunshine and Monash.

Boosts to transport, planning, and investment around National Employment and Innovation Clusters will invariably pull new residents into these designated development zones.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image2_13.jpg" rel="gallery-all" title="M-City is an example of a residential project within a designated Cluster. Image: CBRE"><img alt="" class="image-article-full-width-580px" height="304" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image2_13.jpg?itok=deb9u4qI" title="M-City is an example of a residential project within a designated Cluster. Image: CBRE" width="580"></a>

<figcaption>M-City is an example of a residential project within a designated Cluster. Image: CBRE</figcaption></figure>Yesterday CBRE announced that M-City in Clayton, an example of a residential project located well beyond the inner city and within a National Employment and Innovation Cluster, had delivered 172 sales over two weekends. The first phase of M-City to go on sale had 175 units in total.

Melbourne Apartment Essentials recorded almost 500 sales from 47 projects in the March 2017 quarter.

Four new projects amounting to 1,471 units launched, whereas the equivalent period last year witnessed 14 developments at 2,878 launch to market. The scaling back of apartment releases is in line with market sentiment, with developers taking a more cautious approach to project releases.

<blockquote>
We expect to see fewer project launches which will ensure the market maintains a healthy balance of supply and demand. Of the projects we monitor, 82% of stock has been sold.

At this stage of the market it is not about a large reduction in sales or drop in price, but a change in the type of sales we are seeing and where apartments are selling. After a more subdued quarter in inner Melbourne, we maintain our expectation of a boost in activity prior to the 1 July stamp duty changes.

<cite>Mark Dawson, Director of Property Economics and Research, Urbis</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_2153.jpg" rel="gallery-all" title="The recently completed 9 High within Preston is symptomatic of that suburb's growth"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_2153.jpg?itok=9MjCFlC9" title="The recently completed 9 High within Preston is symptomatic of that suburb's growth" width="580"></a>

<figcaption>The recently completed 9 High within Preston is symptomatic of that suburb's apartment growth</figcaption></figure><h2>Melbourne Apartment Essentials Q1 2017 snapshot</h2>

The Melbourne Apartment Essentials report found:

<ul>
<li>Urbis recorded just under 500 off the plan sales in the March 2017 quarter. Of these, 42% were in the Inner Melbourne area, while 58% were recorded in Melbourne’s middle ring.</li>
	<li>For the first time since reporting commenced, the majority of inner Melbourne sales were outside of the Central Precinct. The Inner North recorded the most sales (85 sales), followed by the Inner East (53 sales), Central (40 sales), Inner West (17 sales) and Inner South (1 sale).</li>
	<li>The weighted average sales price for the March 2017 quarter was $706,391, a $44,476 increase compared to the December 2016 quarter. This increase was driven by the volume of two-bedroom product selling.</li>
	<li>Two-bedroom, two-bathroom product was the most popular, accounting for 35% of total sales, an increase from 29% in the previous quarter.</li>
	<li>One-bedroom, one-bathroom, one-car product accounted for 18% of total sales.</li>
	<li>Four new projects launched amounting to 1,471 units this quarter, compared to seven projects amounting to 3,741 units at the end of the June 2016 quarter. Launches have decreased as the market self-regulates, although we have been expecting to see a short term rebound to beat the stamp duty changes on 1 July.</li>
</ul>
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