Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.

NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.

Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;

Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;

Deicorp was recently approved for another new development next door to Showground Village.

The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.

“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.

“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."

Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.

[smartcode_project_cta:default project_id=133881]

Joel Robinson

Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

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Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Apartment Market

EXPERT OPINION

Multiple factors are driving our real estate markets but it can all be distilled down to this: we have shortages of everything.

Why are prices rising? Because there&rsquo;s a shortage of listings, relative to buyer demand.

Why are rents rising? Because there&rsquo;s a chronic shortage of rental properties.

Why are building costs rising? Because there&rsquo;s a shortage of everything and everybody involved in the creation of new dwellings.

Who&rsquo;s responsible for these situations? The politicians and bureaucrats who love to tinker at the edges of our property markets but never think beyond the press conference.

These shortages and their consequences create serious issues for Australians and they warrant urgent action. But there&rsquo;s no evidence that the politicians are even aware there&rsquo;s a problem.

[smartcode_project:default project_id=5328 project_image_fid=155359]

They&rsquo;re all obsessed with the pandemic and haven&rsquo;t noticed the multitude of tenants who can&rsquo;t find a rental property at any price or the prospective owners of a newly-built home who can&rsquo;t proceed because they can&rsquo;t find an available builder - or the one they have can&rsquo;t get the materials they need.

We have a serious undersupply of rental properties because investors have been discouraged by a series of decisions and policies by politicians and bureaucrats over the past five years.

Investors have been largely sitting on the sidelines and right now there are more investors selling than buying.

The shortage of rental properties is dire. Most postcodes across Australia now have vacancy rates below 1% and many are closer to zero than 1%.

[smartcode_project:default project_id=5559 project_image_fid=88243]

Anyone who makes a rental property available and stages an open house will have queues of applicants and people offering more than the asking rental.

That&rsquo;s why rents are rising. Those who react to the symptoms rather than the causes are calling for controls on rents, but that will make the problem worse, by further deterring investors who are an essential part of this equation.

Placing a cap of rentals is no help to desperate individuals and families who can&rsquo;t find a rental property at any price.

When it comes to building new homes, in desirable locations, there are crippling shortages of everything that forms part of the process. The first issue is getting your foot on a block of land. In many places, everything has been sold and it takes time for developers to create new supply of land that&rsquo;s ready to be sold.

If you do have a block of land with your name on it, the next issue is trying to find a builder who&rsquo;s not booked out for the next year or more.

[smartcode_project:default project_id=89720 project_image_fid=147504]

If you have a builder, it&rsquo;s highly likely they can&rsquo;t do the job any time soon because they can&rsquo;t get steel or timber or bricks. Supply chains have been disrupted by the heavy demand and by the pandemic.

This means the cost of building your home is rising by the week. A lot.

If you&#39;re fortunate enough to have a fixed price contract locked in, your builder has a massive problem because they may be forced to build the home at a significant loss because their costs are going through the roof, pun intended.

Having the cost and completion date locked into a contract is worth little if your builder goes broke in mid-project.

[smartcode_project:default project_id=102256 project_image_fid=163757]

Who caused this shemozzle? The idiot politicians who patted themselves on the back for bringing in the HomeBuilder handout, but didn&#39;t bother to consider the impact that would have on supply chains.

This has become a big problem for everyone in the market &ndash; consumers, builders, suppliers, selling agents, buyers&rsquo; agents, everyone.

It&rsquo;s all part of a dynamic mix of factors that is forcing up the price of real estate almost everywhere in Australia.

Multiple factors are driving our real estate markets, but it can all be distilled down to this: we have shortages of everything



terryryder

Shortages of listings, rentals and approvals driving the property market: Hotspotting's Terry Ryder

<h2>EXPERT INSIGHT</h2>

The exponential growth in prices in the past quarter isn&rsquo;t confined to the housing market &ndash; many apartment markets are also experiencing major uplift.

In putting together the upcoming Winter edition of The Price Predictor Index, I have been updating the median price data for every notable suburb and town in Australia, changing the figures from three months ago to the current data.

In so many cases, the uplift has been quite startling, indicative of the once-in-20-years property boom sweeping the nation. When median prices are showing double-digit increases in just three months, you know something exceptional is afoot.

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A few weeks ago, I listed some examples of rises for median house prices in locations across the nation. But it&rsquo;s also occurring in many apartment markets &ndash; not as prevalent, but nevertheless noteworthy in individual instances.

On the Redcliffe Peninsula in buoyant Brisbane, several suburbs are recording big rises in median prices for apartments. The median price in Scarborough has increased from $480,000 to $510,000, while Redcliffe has jumped from $385,000 to $425,000 &ndash; a rise of 10.5% in three months.

The median unit price in the Brisbane northside suburb of Newmarket has risen 16% in the past quarter, from $400,000 to $465,000.

In Perth, examples of big increases in median unit prices in three months include Rockingham ($210,000 to $250,000), Maylands ($285,000 to $315,000), Dianella ($270,000 to $330,000), Fremantle ($475,000 to $510,000) and Joondanna ($310,000 to $385,000).

The Rockingham rise was 19%, Dianella jumped 22% and Joondanna&rsquo;s increase was 24%. But the biggest leap has been in Mosman Park, up from $285,000 to $385,000 &ndash; an increase of $100,000 or 35% in the past quarter.

[smartcode_project:default project_id=3490 project_image_fid=92411]

What, you may wonder, is going on here?

Adelaide has some notable examples. Norwood is up from $505,000 to $570,000 (13%) and Prospect has risen from $380,000 to $445,000 (17%). So does Canberra, including the 12% rise from $595,000 to $665,000 in Barton.

In Sydney, the median unit price in Fairlight has leapt from $1,425,000 to $1,560,000, Freshwater has gone from $890,000 to $940,000, Double Bay is up from $1,450,000 to $1,510,000, Neutral Bay from $955,000 to $1,050,000, St Ives from $1,020,000 to $1,120,000, and Kogarah from $685,000 to $785,000 (up $100,000 or 15%). Rose Bay has delivered one of the most remarkable results: its median apartment price has increased from $1,475,000 to $1,600,000 in three months &ndash; a rise of $125,000.

Melbourne has many notable instances, including Berwick (from $530,000 to $595,000), Beaumaris ($935,000 to $1,100,000) and Albion ($375,000 to $435,000).

There are lots of examples also in regional Australia, notably on the Gold Coast, the Sunshine Coast and the Central Coast, but also in regional cities like Newcastle.

One school of thought suggests we may see more big increases in apartment prices, because buyers priced out of the housing market in their favoured locations are switching their attention to more affordable apartments.

The exponential growth in prices in the past quarter isn’t confined to the housing market – many apartment markets are also experiencing major uplift

Many apartment markets are seeing major price increases: Hotspotting's Terry Ryder

Melbourne apartment values soared past the $600,000 median over May after&nbsp;0.8 per cent value growth, the monthly Hedonic Home Value Index&nbsp;from property data firm CoreLogic found.

The continued growth follows one per cent gains over April and 2.1 per cent in March.

The solid May performance takes the quarterly apartment gains across the Victorian capital to 3.6 per cent and the median apartment price to $605,000, well up from the $577,000 median at the start of 2021.

Apartment values in the Victorian capital have been rising since October, according to CoreLogic&#39;s data.

<a href="/developments/melbourne-vic?source_news_article_id=102257&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_melbournecbd_3.jpg" width="1200" /></a>

CoreLogic&#39;s Head of Residential Research Tim Lawless reaffirmed the fundamentals driving strength in the housing market remain in place.

&ldquo;The combination of improving economic conditions and low interest rates is continuing to support consumer confidence which, in turn has created persistently strong demand for housing.

&quot;At the same time, advertised supply remains well below average.

&quot;This imbalance between demand and supply is continuing to create urgency amongst buyers, contributing to the upwards pressure on housing prices.&quot;

Melbourne is the only capital where total listing numbers are now higher than the five-year average.&nbsp; Unit listings were up over 29 per cent over the past year.

<a href="/developments/docklands-vic-3008"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_docklands_0.jpg" width="1200" /></a>

Despite the increase in newly advertised residential properties across the country, sales activity has also increased. CoreLogic estimates sales activity over the three months to May was tracking about 37% higher than the five-year average.

&ldquo;The sales to new listings ratio remains around 1.1, meaning for every new listing there is more than one sale occurring,&rdquo; Lawless said,

&ldquo;This rapid rate of absorption is keeping advertised inventory levels extremely low, despite the rise in new listings. As a consequence, vendors remain in a strong selling position while buyers have a weak 
position at the negotiation table.&rdquo;

CoreLogic's Head of Residential Research Tim Lawless reaffirmed the fundamentals driving strength in the housing market remain in place

June 2021: How did Melbourne apartment values perform over May?

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CoreLogic research director Tim Lawless said 70 per cent of the best-performing apartment markets are located in lifestyle markets.

CoreLogic found 14 suburbs had seen 20 per cent growth in the past year.

Lennox Head on NSW's north coast topped the list with a 27.6 per cent increase in values.

The next biggest growth in values was in Victoria's Ocean Grove and Torquay, with 26.3 per cent and 25.8 per cent gains respectively.

Gold Coast suburbs Palm Beach, Bilinga, Currumbin and Tugun saw an average growth of 22.8 per cent. 

[smartcode_project:default project_id=22057]

There was also strong demand in Brisbane's bayside suburbs Cleveland and Wynnum where apartment values up by 25.1 per cent and 18.6 per cent respectively.

Apartment values in Sydney's northern beaches suburb Avalon rose by 12.9 per cent.

Lawless noted the best-performing apartment markets were located in "lifestyle" markets, including tree change locations such as Bowral and Jindabyne.

[smartcode_project:default project_id=5559]

"The common theme for the strength in the unit market is the lifestyle factor, with additional demand from buyers looking for a sea change or tree change, as well as a lift in buyers seeking out holiday homes," he told The Australian Financial Review.

"Units obviously are still underperforming compared to houses but we are seeing some growth returning to the sector.

"I think because we've seen such strong price increases in detached housing, affordability constraints have become more challenging, so it's natural to look towards higher density options."

 
 
</body></html>

CoreLogic research director Tim Lawless said 70 per cent of the best-performing apartment markets are located in lifestyle markets

jchancellor

Lifestyle apartment markets lead recovery: Tim Lawless

The Newcastle developer GWH has seen a spike in sales of their Newcastle CBD development Sky Residences since the start of 2021.

GWH sales and marketing manager&nbsp;Matthew Waddell puts it down to an increase in investor activity in the region, which posted 3.6 per cent dwelling price growth&nbsp;in March, second only to Sydney in price growth of major regions across the country.

"For this current quarter (January to March), we have seen more sales than any period during the marketing of the project", Waddell says.

There's been a dramatic increase in enquiry from investors, more specifically from investors outside Newcastle, Waddell notes.&nbsp;

<a href="/new-apartments/sky-residences-509-hunter-street-newcastle"><img alt="" data-entity-type="" data-entity-uuid="" height="896" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sky_residence_2.jpg" width="1200" /></a>

Investors have accounted for 36 per cent of sales since the turn of the year at Sky Residences, just behind owner-occupiers who accounted for 38 per cent. And now over a third of those buying are coming from outside of Newcastle.

"Buyers are making their purchasing decision quicker as well, with a previous ratio of appointments to sales of 7:1 now shortening to 3:1", Waddell says.

[smartcode_project:default project_id=8430]

Set in the heart of the CBD's Civic precinct, Sky Residences,&nbsp;designed by DBI, homes 180 apartments, made up of one, two, three and four bedroom units.

There are 1,100 sqm of premium hotel-style amenities for residents, including a heated outdoor lap pool, gym and fitness centre and a rooftop sky lounge with 360-degree views across Newcastle. On the roof there's indoor and outdoor facilities, a landscaped lawn terrace, barbecues and dining spaces.

<a href="/new-apartments/sky-residences-509-hunter-street-newcastle"><img alt="" data-entity-type="" data-entity-uuid="" height="894" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sky_residence_3.jpg" width="1200" /></a>

Inside there's a lounge area with a fireplace and a cinema screen and bar.

Remaining one bedroom apartments start from $485,000, with the highest remaining three bedders on level 16 for sale at $1.6 million. The north-east facing penthouse sold for $3.3 million.

<h2>About the developer</h2>

GWH have been developing property in the Newcastle region&nbsp;for over 25 years, with over $1 billion of completed projects&nbsp;delivered.

Led by Jonathan Craig, GWH are behind Aero in Newcastle, which won the Master Builders Association award for&nbsp;Apartment Development of the Year in 2018, Highpoint in Charlestown and 121Elder in Lambton.

There's been a dramatic increase in enquiry from investors, more specifically from investors outside Newcastle.



Sales spike hits Newcastle's Sky Residences as investors return

<html><body>
The national home value index one per cent over December, pointing to a strong start to 2021, data analytics firm CoreLogic's monthly home value index found.

It was the third consecutive month of dwelling value gains after declines of -2.1 per cent drop in dwelling values between April and September.

Darwin again led the way in monthly gains over December, with dwelling values up another 2.3 per cent. They are 5.5 per cent up on the quarter in the Northern Territory capital and nine per cent up the calendar year, the best performing market across the country for 2020.

Darwin was followed by 1.1 per cent gains in Brisbane, Adelaide and Perth.

Melbourne was the other other capital to see gains of one per cent or above, with Hobart and Sydney recorded modest 0.7 per cent growth and Canberra the worst performer but still up 0.6 per cent.

<img alt="" height="707" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/corelogic_january_2021.jpg" width="1200">

CoreLogic’s research director Tim Lawless said the year was characterised by a mild COVID dip in values, but unprecedented volatility in the transaction space.

“The number of residential property sales plummeted by -40% through March and April but finished the year with almost 8% more sales relative to a year ago as buyer numbers surged through the second half of the year," Lawless said.

Despite the volatility, housing values showed remarkable resilience, falling by only -2.1% before rebounding with strength throughout the final quarter of 2020.”

<h2>Houses v Units</h2>

The national housing market started its expected outperformance of its unit counterpart over December, with national average gains of 1.1 per cent over the month.

Unit values held firm however, seeing growth in every capital apart from Sydney.

Sydney's housing market did the heavy lifting for their 0.7 per cent dwelling value gains. Houses were up 1.1 per cent over December compared to a -0.1 per cent contraction in the unit market.

House values in Melbourne outperformed Sydney's, up 1.2 per cent. Their unit market growth was one of the best in the country, up 0.6 per cent, only bettered by Perth's 1.1 per cent gains.

It was a similar script in Queensland, with Brisbane home values up 1.2 per cent and unit values up 0.4 per cent.

 
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The national home value index price rose one per cent over December, pointing to a strong start to 2021, data analytics firm CoreLogic's monthly home value index found.



Every capital sees real estate value growth in December 2020: CoreLogic

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SQM Research reported that listing numbers declined across every capital city in August, and August listings nationally down by 4.3 percent from the prior year.  
<div>This is not unusual for August according to SQM, so we may see a rebound in September. </div>
<a href="/images/2016/09/08/SQM1.jpg" target="_blank">Click to enlarge </a>
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<div>Over the past year Hobart has been the one significantly tightening market with listings down by 7 per cent in August to be 10.7 per cent lower than one year ago. </div>
<a href="/images/2016/09/08/SQM2.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><img src="/images/2016/09/08/SQM2.jpg" alt=""></div>
 Darwin listings seem to have stabilised, while this was a better result for Perth, though median asking prices are lower than one year ago in both of these resources capital cities.  
<div>In Sydney total listings are 12.3 percent higher than one year ago.</div>
<div> </div>
<div>According to SQM's managing director, Sydney's inner ring has seen record year-on-year declines in listings, but outer suburban and older stock is not shifting leading to the annual increase in total listings. </div>
<div> </div>
<div>There has been much talk of an apartment corrections in the largest capital, but to date median asking prices are higher over the year in both Sydney (+5.2 percent) and Melbourne (+5.2 percent). </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>.
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pwargent-M4siyDbqQY

Listings decline across the board: Pete Wargent

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<div>The latest population growth figures put an altogether different slant on Australia's assumed apartment gluts. </div>
<div> </div>
<div>In Melbourne, the risks have receded dramatically, at least for now.</div>
<div> </div>
<div>In fact, with the state's estimated populated growth apparently tracking at the highest level in six decades, it would be all but impossible for the market to become 'oversupplied' until this rate of growth in the headcount slows down. </div>
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<div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/09/29/B2.jpg" target="_blank">Click to enlarge</a></div>
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<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/29/B2.jpg" alt=""></div>
 
<div>Now Queensland really went on an apartment construction mission from 2014 forth, to the extent that there is a now a clear oversupply of units in some locations, particularly inner city Brisbane, with more supply still to come online. </div>
<div> </div>
<div>The latest figures show that although the glut will have an impact for some time to come, the market will right itself eventually.</div>
<div> </div>
<div>Indeed, the reacceleration of population growth to +75,400 per annum is exactly what Queensland's housing markets needed to help absorb the stock, while new apartment starts are now understandably and visibly slowing to a crawl. </div>
<a href="https://www.propertyobserver.com.au/images/2017/09/29/B1.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/29/B1.jpg" alt=""></div>
 
<div>In Hobart, commencements have yet to pick up dramatically, despite electric growth in house prices and rents.</div>
<div> </div>
<div>Because the Hobart market demands houses and not apartments, in theory the supply response should come much more quickly (apartment projects can take ages to build, comparatively speaking). And we know from previous cycles that the market has the potential to deliver much greater supply - but to date it hasn't happened. Developers from the mainland are not that keen to get involved, perhaps, given the logistical challenges. I haven't been down to Tassie for a while - and I got seasick when I last went - so I have no feel whatsoever for activity on the ground. </div>
<div> </div>
<div>First homebuyer demand</div>
<div> </div>
<div>I noted here previously that the 2016 Census confirmed an enormous surge in 25-34 year olds.</div>
<div> </div>
<div>Due in part to housing affordability challenges, many are not yet forming households, though they might begin to do so if capital city apartment prices do ever slide in any meaningful way. 
</div>
<div>ANZ research this week suggested that there is significant latent first homebuyer demand, and ANZ believes that this could potentially keep an effective floor under prices, which is what I concluded from the Census figures back in June too.</div>
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">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">Four Green Houses and a Red Hotel</a>.
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j.ballantyne1990-6AQqhLzZaK

Australia's assumed apartment gluts

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<div id="post-body-1248243627302399679" class="post-body entry-content">
Greater Brisbane's apartment construction boom totters on its last legs, with annual unit approvals crashing by 42 percent (so far), and developers struggling to sell out live projects. 
There are still quite a number of significant projects under construction. 
When finished, the project will comprise 360 apartments across the three residential towers. 
On Old Cleveland Street, the old retail eyesore has gone, to be replaced with 7,000 square metres of new retail space, including cafés, restaurants, and a 10-theatre cinema precinct.
The final stage of the apartments has reportedly yet to sell out, despite being approved in 2014 and being located in a relatively prime location. 
Over the medium term this will doubtless be a very popular location, but the appetite for new apartments has been sated for this cycle.
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<div class="post-footer"> </div>
<div class="post-footer">
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">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">Four Green Houses and a Red Hotel</a>.
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Greater Brisbane's apartment construction boom totters on its last legs: Pete Wargent 

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EXPERT OBSERVER
I’m expecting uplift in apartment markets in the major cities as we transition into the New Year. It’s clear from the evidence that’s emerging week by week that the post-boom correction that afflicted Melbourne and Sydney has run its course and recovery is real.
But, contrary to the general tone of mainstream media, there was no blanket collapse in price levels across the two biggest cities during that recent downturn. Some market sectors were strongly resistant.
Generalised reporting, with a single figure to describe outcomes in an entire very large city, disguises the myriad scenarios playing out across a metropolitan area. At Hotspotting, we conduct a suburb-by-suburb analysis of sales activity and price trends every quarter and that shows how many variances there are. Even neighbouring suburbs can have contrasting fortunes. It’s fundamentally about local conditions.
A trend I saw during that correction phase was numerous suburbs in both Melbourne and Sydney where median house prices were down (a lot, in many cases) but median unit prices were still up.
As investors fell away, younger home buyers became increasingly active and there’s a preference among young adults for the apartment lifestyle, and not only because units are cheaper. Young adults are making choices that are different to those of their parents and grandparents, who generally opted for the suburban house on land.
Apartments offer a low-maintenance low-energy lifestyle, often in a better-connected location at a cheaper price. So demand for apartments held up pretty well in the big-city downturn and prices stayed solid in many locations (not all).
And now we have the brave new world of recovering or rising markets in our capital cities. We’re entering 2020 with real estate consumer confidence rising and buyers becoming increasingly active, helped by easier finance and tax cuts, and nudged along by a more positive tone in media coverage.
First-home buyers are busy and, according to the ABS date, more prominent (measured by their share of owner-occupier loans) than at any time in the past 7-8 years.
The Federal Government’s assistance package will add impetus – and urgency, because it’s limited to the first 10,000 who take action.
So demand in big-city apartment markets is likely to strengthen.
Here are some case studies.
The Moreland LGA in Melbourne attracts a lot of demand from both renters and buyers, thanks in part to the proximity of the big medical/education precinct around Parkville/Carlton. Most postcodes have vacancies well below 2%.
In the popular suburb of Brunswick, you pay close to $1 million for the typical house but the median price for units is a little above $500,000. In Coburg, the median prices are around $900,000 for houses and $500,000 for units. So you can get into the typical apartment for half the price of houses, generally speaking.
In the past 12 months, the median house prices in both suburbs have dropped significantly, but median unit prices have increased – by 4% in Coburg and 6% in Brunswick.
In the Northern Beaches area of Sydney, Dee Why attracts consistent demand for apartments, with over 500 unit sales in the past 12 months. The median prices are $1,530,000 for houses and $740,000 for apartments – and price levels have stayed solid for apartments while houses are down 9% in annual terms.
In the Northern Beaches suburb of Newport, the median price comparison is $1,700,000 for houses and $860,000 for apartments, with house prices down 8% in annual terms, while apartment prices are up 4%.
Another factor boosting apartment markets is the fall off in construction levels, which means supply levels have moderated at a time when demand generally is rising. Vacancy rates are low and falling in most of our capital cities, although there are exceptions and buyers need to be informed about local situations.
In Kangaroo Point in inner-city Brisbane, you pay around $460,000 for the typical apartment and vacancies, which were consistently above 5% in recent years, are now down around 3%.
A year ago, the vacancy rate for South Brisbane was around 8%. Now it’s around 4% and trending in the right direction. The median apartment price is around $500,000, up slightly in the past 12 months.
I’m not advocating that people dash out and buy apartments – and we could have large debates about the pros and cons of investing in apartments, But I do think we’re going to see rising demand in unit markets in the major cities in 2020, especially by owner-occupier buyers, with first-timers prominent. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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