Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Apartment Market

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EXPERT OBSERVER
Apartment markets are leading Melbourne’s recovery from the post-boom downturn. Hotspotting’s Spring survey of sales activity and prices provides strong evidence of revival in Melbourne, with units outdoing houses on price performance.
Our survey has identified 73 markets where median prices have risen in the past 12 months and 79% of them are apartment markets. Examples include Fairfield (up 20%), Glen Huntly (up 15%), Niddrie (up 15%), Toorak (up 17%), West Footscray (up 15%) and Yarranville (up 15%)
The most striking trend is the number of suburbs where the median house price is down but the apartment median is up: 53 suburbs across the Melbourne metro area have this scenario.
Examples include: 
<ul class="ul1">
<li class="li1">Brighton (house median down 18% but unit median up 8%); </li>
<li class="li1">Doncaster East (houses down 13% but units up 9%); </li>
<li class="li1">Heidelberg (houses down 13% but units up 11%; </li>
<li class="li1">Highett (houses down 20% but units up 9%); </li>
<li class="li1">Kensington (houses down 14% but units up 8%); </li>
<li class="li1">Mt Waverley (houses down 14% but units up 6%); </li>
<li class="li1">Ormond (houses down 16% but units up 13%); and </li>
<li class="li1">West Footscray (houses down 10% but units up 15%).</li>
</ul>
Melbourne’s most expensive market, Toorak, provides the most stark contrast: the median house price has dropped 29% to $3.1 million in the past year, while the median apartment price has risen 17% to $985,000.
There are also 48 markets where the median price is down in annual terms but has risen in the latest quarter – and 30 of those (63%) are apartment markets.
Examples include Heidelberg Heights apartments, where the median is down 8% annually but up 4.6% in the latest quarter and South Melbourne apartments, where the median is down 4% annually but up 2.8% in the latest quarter.
There are 129 markets where median prices are down 10% or more in annual terms and 110 of them are house markets – only 19 of the markets with big decline are unit markets. 
Many of those with biggest annual decreases (above 20%) are suburbs where median house prices are above $1 million – or were before the recent decline. They include Box Hill, Box Hill South, Bulleen, Carlton, Hawthorn, Hawthorn East, Highett, Hughesdale, Ivanhoe, Ivanhoe East, Mont Albert North, North Melbourne, South Yarra, St Kilda and Toorak.
Hotspotting’s Spring survey of sales activity shows solid evidence of the recovery that has emerged in Melbourne since the Federal Election result in May. The previous two years had shown the decline from the peak of the boom – at first gradual and then dramatic.
The previous eight quarterly surveys had shown the following numbers of suburbs with growth markets (rising numbers of sales): 97, 60, 35, 30, 12, 9, 9, 2 and 0. That pronounced pattern of decline in sales activity heralded the end of Melbourne’s boom, which eventually led to decreases in median prices in the past 18 months.
This latest survey shows the first evidence of turnaround. It identifies 20 suburbs with growing sales activity, with most of them in Melbourne’s middle market. Declining markets still outnumber rising ones, but the number of suburbs with downward patterns in sales activity has reduced from 113 in the Winter survey to 72 in this Spring survey. 
Of the 30 LGAs across the Melbourne metro area, there are four LGAs with at least one growth suburb and no declining ones: Darebin (with Northcote as a growth market), Manningham (Templestowe and Donvale), Moonee Valley (Ascot Vale) and Nillumbik (Diamond Creek and Eltham). 
Other Middle Melbourne areas with growth markets include the LGAs of Kingston (Moorabbin and Mordialloc), Moreland (Brunswick East and Oak Park) and Bayside (Hampton and Sandringham).
Most of the suburbs with rising sales trajectories have median house prices in the range from $800,000 to $1.2 million.
While the number of suburbs with declining activity is less than the previous survey, there are precincts where serious decline remains evident – many of them outer ring areas which had previously showed resilience against the post-boom downturn. They include the LGAs of Mornington Peninsula, Melton, Hume, Wyndham and Casey.
Some of the more upmarket areas also continue to struggle including the LGAs of Glen Eira, Melbourne and Whitehorse. 
Some municipalities demonstrate the folly of generalisation about property markets, with a range of contrasting scenarios playing out within the one precinct. The LGAs of Brimbank, Kingston and Whittlesea all have suburbs with diverse outcomes: some rising, some plateau, some consistency and some declining. 
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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Apartment markets leading Melbourne's real estate recovery: Hotspotting's Terry Ryder

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Despite the resurgence in the Sydney and Melbourne property markets, valuation firm Herron Todd White believe apartments are still at the bottom of the market.
They suggest the housing market in Sydney and Melbourne, as well as Brisbane, is <a href="/expert-insights/buying/sydney-brisbane-and-melbourne-begin-housing-market-recovery-htw-property-clock">already starting its recovery</a>. 
To enlarge the HTW Unit Property Clock, <a href="https://www.propertyobserver.com.au/images/2019/10/10/HTW%20National%20Unit%20Clock.jpg" target="_blank">click here</a>.
<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/2019/10/10/HTW%20National%20Unit%20Clock.jpg" alt="">
Sydney's unit market bottomed out last month, according to Herron Todd White.
Melbourne have been at the bottom of the market since July when Sydney was approaching the bottom.
Wider Sydney and Melbourne have started their recovery before the capital markets.
Unit markets in Geelong and Shepparton outside of Melbourne are starting to recover, as are markets in Newcastle, north of Sydney.
The Gold Coast is finally starting to bottom out, with its decline starting way back in June 2018.
 
 
 
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Sydney and Melbourne unit markets still at the bottom, with Gold Coast approaching: HTW Property Clock

<html><body>
EXPERT OBSERVATION
As the property market continues to recover this spring, buyers and sellers are well advised to focus on five key areas that will largely shape the market’s performance. 
Leading into spring, the market conditions seemed to be improving week to week.  
The recovery to date has not been linear across market segments. Some niche markets such as inner-city houses have rebounded strongly whilst apartments in suburbia continue to struggle.
Generalised commentary such as ‘Sydney house prices’ won’t help a Birchgrove home buyer nor will ‘inner city apartments’ assist someone looking to downsize to a waterfront apartment. 
Stock levels/days on market – vendors benefited whilst buyers were left frustrated by the historically low stock levels over winter.
Market pessimists claimed the economic fundamentals were weak – but when there are more buyers than sellers, vendors hold the advantage regardless of the fundamentals.
Sometimes the market can play the other way – whereby the fundamentals are healthy but the market is over supplied with stock, giving buyers an advantage.
The recovery in Perth will look this way when their State economy shows strong improvement, the housing market will initially lag until excess stock levels are cleared. 
CoreLogic monthly index – normally, you would not suggest an index would influence the performance of a market. It is normally the other way around; the market shapes the index’s reading. 
The CoreLogic monthly index accurately tracked the downturn and has quickly become the most credible source of the market performance.
In recent months, the index has shown the market tracking positively which then feeds into buyer confidence.  
With money being cheap and readily available, buyer confidence is the final requirement for the market recovery to really take hold.
We have already seen many sales that suggest the market recovery is becoming more aggressive and reflective of early 2017. 
The CoreLogic monthly index is where many commentators, forecasters and buyers will take their cue. 
Rental market – the inner west rental market is falling, across the housing and apartment market. This is likely to impact the market in one of two ways.
Firstly, demand will be muted as investors are less likely to be interested in buying a rental property at a time of falling income.
Secondly, existing landlords may be tempted to sell by the higher sales prices on offer, at a time of lower rental returns. This could potentially add to stock levels (supply).
We have already seen this trend over winter as a disproportionally high number of landlords opted to sell rather than re-let their property as it became vacant.  
Bidders per property is without doubt the best metric to measure market depth. During the downturn, finding one fair and reasonable offer was a feat for vendors. This is why many properties were either ‘Prior to Auction’ or were simply ‘Withdrawn’.
When faced with an environment of one or no buyers, trying to engineer a competitive auction is optimistic. 
In recent times, the number of bidders has increased enormously. We are regularly seeing up to 5 or 6 bidders per property, highlighting depth in the market which will ultimately push prices higher. 
The apartment market has copped an absolute shellacking since the Opal Tower cracked last December.
Interestingly, buyers have still shown a propensity to purchase apartments, albeit with added caution.
If there is one common denominator in the high few profile instances of defects, it is high rise apartments less than 7 years old. This will inadvertently make older, established apartment blocks more appealing to home buyers.
A complete loss of buyer confidence in the apartment market would be catastrophic for the market and the economy. Hopefully this can be avoided.
PETER O'MALLEY is sales consultant with <a href="https://www.harrispartners.com.au/" target="_blank">Harris Partners Real Estate Agents</a> and has been successfully selling real estate in Sydney's Inner West since 2000.
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Housing market conditions improving heading into the spring: Peter O’Malley

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Sydney’s median apartment price has dropped 3.2% since last year, according to key market indicators from JLL Research, the ABS, REIA, and CoreLogic.
<img src="https://www.urban.com.au/images/2019/7/30/JLL%20Sydney%201.JPG" alt=""> 
The downturn has led to a parallel decline in the number of new developments being approved (with a fall of 30.6%), as well as a reduction in the overall number of apartments sold (with a fall of 21.5%).
While the median cost of renting has also dropped (by 0.5% for one bedroom units, and 0.7% for two bedroom units), it has not fallen at the same rate as outright apartment values. Gross rental yields have increased by a tenth of a percent.
<img src="https://www.urban.com.au/images/2019/7/30/JLL%20Sydney%202.JPG" alt="">
Throughout the rest of the country, the Gold Coast and Adelaide both experienced decelerating positive growth in the year’s second quarter, while Canberra, Melbourne, Perth and Brisbane all saw decelerating negative growth in the same time period. No city in the study kept up with long term average growth.
<img src="https://www.urban.com.au/images/2019/7/30/JLL%20Sydney%203.JPG" alt="">
The significant drop in the number of apartments either completed, or under construction, in 2019 (compared to last year) is exaggerated by the unprecedented number built during 2018, and does not appear to be indicative of a long term falling trend.
This year there are more apartments completed, or under construction, than were built in 2017 or 2016.
Furthermore, the development plans already submitted, approved, or under construction over the next four years indicate a stable supply of new apartments.
<img src="https://www.urban.com.au/images/2019/7/30/JLL%20Sydney%204.JPG" alt="">
When geographically extrapolated, the research demonstrates that the city’s inner south has the most new apartments planned, approved, under construction, or completed between 2019 and 2023 (at 8,297), followed closely by the inner west (7,789).
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Sydney apartment approvals down 30% in one year: JLL

<html><body>
Melbourne’s median apartment price has failed to demonstrate any growth since last year, with exactly a 0.0% year on year change, according to key market indicators from JLL Research, the ABS, REIA, and CoreLogic.
<img src="https://www.urban.com.au/images/2019/7/30/JLL%20Melbourne%201.JPG" alt="">
The lack of growth coincides with a significant downturn in the number of new developments being approved.
The 62% year on year reduction in apartment approvals is one of the most significant in the country, and almost double Sydney’s 30.6% downturn.
While the median cost of renting one bedroom units has increased by 0.3%, the rent for two bedroom units has stagnated, and three bedroom units have seen an unexpected fall of 3.2%.
The cause of this discrepancy between apartment types is unclear, however changing demographics has been attributed in the reduced demand (and price) of three bedroom units.
<img src="https://www.urban.com.au/images/2019/7/30/JLL%20Melbourne%202.JPG" alt="">
Throughout the rest of the country, the Gold Coast and Adelaide both experienced decelerating positive growth in the year’s second quarter, while Canberra, Sydney, Perth and Brisbane all saw decelerating negative growth in the same time period.
No city in the study kept up with long term average growth.
<img src="https://www.urban.com.au/images/2019/7/30/JLL%20Melbourne%203.JPG" alt="">
There will be almost as many new Melbourne apartments built this year as there were in 2018, if we are to assume all developments currently under construction will be completed.
While 2018 saw a significant fall in the number of new developments from the previous year, the data for 2019 and 2020 suggests a deceleration of this trend, with the potential for positive growth in 2021.
<img src="https://www.urban.com.au/images/2019/7/30/JLL%20Melbourne%204.JPG" alt="">
When geographically extrapolated, the JLL research demonstrates that Melbourne City makes up roughly two-thirds of all new developments either planned, approved, under construction, or completed between 2018 and 2023 (at 30,160 apartments).
The city's inner south exhibits the next most activity, with 7,757 new apartments over the same time frame.
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Melbourne's apartment market stagnates: JLL

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EXPERT OBSERVATION
Newspapers and other forms of mainstream media add to the great seething mass of misinformation when they publish a single figure to describe price trends in a major capital city.
When they declare that Sydney prices have dropped 10% or 12% in the past 12 months, it paints a picture of a market where there is universal decline in prices right across the Sydney metropolitan area - which includes hundreds of suburbs as diverse as Bondi v Penrith or Manly v Campbelltown.
The proposition that a city so big, with all its diverse elements and situations, can be described with one figure depicting a single homogeneous market, is quite ludicrous. And when we dig a little deeper, we finds all kinds of different scenarios in play.
Our suburb-by-suburb analysis shows that there are close to 100 Sydney markets where median prices are higher than a year ago.
Many of the markets where prices have continued to grow are apartment precincts – it’s not happening across the board, but it’s a significant sub-plot in the Sydney market.
A feature of this scenario is the number of suburbs where the unit market is out-performing the house market.
Suburbs where the median house price has dropped in the past 12 months, but the median unit market has risen, include Lindfield, Annandale, Jannali, Matraville, North Bondi, Peakhurst, Roseville, Rozelle, Turramurra, Bondi Junction, Burwood, Dulwich Hill, Hurstville, Manly, Naremburn, Newport, Seaforth and Stanmore, among others.
In North Bondi, the median house price has dropped 18% but the median apartment price has increased 19%.
In Peakhurst, the median house price is down 16% but the median price for apartments is up 8%.
In Jannali, the median house price has dropped 10% over 12 months, but the median apartment price has risen 22%.
We believe this reflects buyers seeking affordability in an expensive market.
Sydney’s prolonged boom peaked in terms of buyer activity in 2015-16 and sales volumes started to reduce from that point – but it wasn’t until 2017 that it started to show up noticeably in the published price data.
After several years of strong growth, buyers in all market sectors began to resist the high pricing levels. Essentially, the Sydney market hit an affordability wall.
Since then, demand for the cheaper unit product has helped to boost price levels in some suburbs, while demand for houses in the same suburb has declined.
In Hurstville, the median price differential is $1.43 million for houses and $730,000 for units - i.e. the typical apartment is half the price of the average house.
There’s an even greater variance in Annandale, where the median house price of $1.6 million is more than double the apartment median of $755,000.
In upmarket Roseville, the median comparison is $2.85 million for houses and $1.08 million for units.
Those numbers help to explain why unit prices are defying the house price trend, in some areas.
Another part of the equation is the preference among younger buyers for the apartment lifestyle, rejecting the house-on-land in the 'burbs choice made by their parents and grandparents.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au" target="_blank">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Sydney's apartment markets are defying the general trend: Hotspotting's Terry Ryder 

Off-the-plan apartment sales on the Gold Coast jumped in the recent quarter to be some 45 per cent higher than the prior quarter, according to property consultant company Urbis’ latest figures.

The Gold Coast has five of the top 10 best-selling projects nationwide.

Urbis senior consultant Lynda Campbell said it had “definitely been a good start to the year”.

The report, released today, found new apartment activity in the first quarter of 2019 was up by more than 70 sales from the December 2018 quarter.

“Most of the developers on the Gold Coast are meeting the market,” Ms Campbell told The Gold Coast Bulletin.

“The top-selling projects have been boutique and targeted at owner-occupiers and that’s what the market is looking for at the moment.”

There were 231 new apartment sales recorded from January to March.

Two-bedroom, two-bathroom pads made up 65 per cent of sales.

There are 2800 apartments under construction on the Glitter Strip, of which 62 percent are earmarked for completion this year.

The report found interstate investors have held back in 2019, claiming 25 per ent of sales, down from 42 per cent in the final quarter of 2018.

Foreign investors secured almost a quarter.

The southern beaches precinct, which stretched from Mermaid Beach to Tweed Heads, had more than 60 per cent of sales for the quarter – the highest level ­recorded for the area in the past five years.

In the first quarter last year the stretch only accounted for 25 per cent of sales.

It was also home to all of the four new projects launched across the Gold Coast.

<a href="https://www.domain.com.au/mali-residence-4-6-alexandra-avenue-broadbeach-qld-4218-2014829266" target="_blank">Mali, the new 55 apartment block developed by Dankav</a> has six of its levels having only three apartments per floor.&nbsp;The curved BDA Architecture-designed building is set to be completed in mid 2020. It has a residents swimming pool on level nine, half way up the 17 level tower, located right on the border of Broadbeach and Mermaid Beach.

Knight Frank director and Queensland head of project marketing Chris Litfin, noted many developers had bought land between Mermaid Beach and Tweed Heads because it offered better value compared to other blocks closer to existing infrastructure.

“They can provide a product near the beach at a low price point,” he said.

The majority of those developments were considered boutique, which Mr Litfin said included between 60 and 120 apartments.

The report noted an average sales price of $788,312.

The number of cranes from apartment projects on the Gold Coast skyline has surged.

There are 30 cranes on the Glitter Strip – seven more than six months ago - according to the latest Rider Levett Bucknall Crane Index.

The director of RLB’s Gold Coast office, Jim Krebs, said the Gold Coast has the fifth highest number of cranes in Australia after Sydney, Melbourne, Brisbane and Perth.

Krebs noted there had been a fall in the value of residential construction projects starting and underway, with a shift towards smaller mid-rise towers.

The newly installed cranes included Vue Apartments and Elysian in Broadbeach while cranes were removed from the 40-level Qube in Broadbeach. Every light in the Qube was switched on for half an hour on one night in January earlier this year to celebrate the finished product.&nbsp;

An earlier Urbis report found the average sale price for the new boutique offerings had jumped $100,000 to more than $700,000 since 2017. &nbsp;

In part it is because developers have been offering a bigger apartment size, blocks no longer modelled on a hotel, where apartments are squeezed in to every level.

Nowadays developers often design four apartments per floor which allows each to occupy a corner of the building which offers two different viewpoints.

The other trend is whole floor.

31BB, named after its address at 31 Broadbeach Boulevard, has committed to this grander scale, the whole floor offering.

The $65 million Woods Bagot-designed&nbsp;project has 22 apartments across its 20 levels.&nbsp;

There are just eight remaining.

Selling agent&nbsp;Andrew Bampton&nbsp;says the buyers are typically aged 45 and over who are either downsizing or rightsizing as they say now, but still want size, luxury, quality interiors and an oceanside location.

"They are not retiring from life but are looking for a lock and leave lifestyle with no maintenance, in proximity to dining and entertaining options," Bampton says.

Bampton says the other key buyer group is a similar age, however are setting the apartment up as their second residence.

"People from Brisbane, Sydney and Melbourne have taken a keen interest in 31 Broadbeach," Bampton suggested, adding it was owner occupier only.

31BB is slated for completion next year by Optimus Developments which is headed by Andrew Karpati.

“Broadbeach already has a strong sense of community," Karpati noted.

A 305 sqm, three bedroom, three bathroom beach house takes up the ground floor, while the top floor is occupied by a four bedroom penthouse.&nbsp;

Both have their own pools. The beach house is still for sale.

The residents communal amenities sit on level 20, where there's a 15 metre heated lap pool.&nbsp;

On launch the full-floor 280 sqm residences featuring three bedrooms and three bathrooms started from $3.05 million.

In recent years Broadbeach has seen billions proposed in investment, led by the upgrade to The Star Gold Coast Casino. More than $2 billion will be spent with up to seven towers rise on the site. It follows the $670 million expansion and renovation of Pacific Fair Shopping Centre. Broadbeach was in the second stage of the Gold Coast Light Rail.

There's around 6500 apartments at Broadbeach which is set for the imminent launch of its highest beachfront residential tower, the 54 floor, 170 metre CLASS Broadbeach.

It will sit next to the area's current tallest building, the eastern Oracle tower.

CLASS Broadbeach will have 46 apartments, including 34 full-floor three bedroom apartments. There will be five two-level sky homes and a three-level penthouse.

It might not be the tallest as veteran developer John Potter has plans for a 68-storey twin super tower fo 2022 completion.

Vue Broadbeach by Andrews Projects, is nearing completion and nearing a sellout.

The $75-million First Avenue tower Vue, due to completed later this year, has achieved a 90 per cent sales rate. &nbsp;

Its penthouse fetched $5 million

The elliptical-shaped building has 71 apartments over 25 levels with a typical four apartments per floor.

The remaining apartments are two and three bedrooms, with open planned living spaces and ocean views.

"We are seeing a trend of local over 50’s looking to downsize, and Brisbane buyers looking for quality lock up weekenders," sales executive&nbsp;Sarah Andrews said.

Proximity to the Broadbeach Bowls Club was a major factor for one retired couple who will be downsizing from their large Clear Island Waters home.

It’s the sixth highrise project for the local family developer Andrews Projects, and their first in Broadbeach, which will be followed by Encore, a $78 million apartment building on Britannia Avenue which will have 86 residences across 25 storeys expected to be completed by late 2020.&nbsp;

Elysian, the $79 million Spyre Group project, will also a typical four per floor configuration across the 21 level luxury tower, set on the beachfront reserve Old Burleigh Road opposite Pratten Park.&nbsp;Elysian will have 61 apartments including two half-floor sub-penthouses starting at $3.4 million and two full-floor four bedroom, four bathroom penthouses priced at $4.7 million.

Sprye has installed new technology My Butler, a 24/7 virtual concierge which can book Elysian facilities, transport, cleaners and a car-wash among other services.

My Butler also has a building events calendar, along with the Elysian community portal which will have up to date notices on the building and its management.

Its basement car parking also features innovative technology, the Gold Coast’s first residential hi-tech automated vehicle storage system.

There have been amalgamations by some off the plan buyers, including Sydney couple who had not visited the Gold Coast in more than a decade, but will soon be able to visit whenever they want having amalgamated two apartments&nbsp;giving them a four-bedroom, three-bathroom holiday residence.&nbsp;

Elysian&nbsp;Broadbeach&nbsp;is now 80 percent sold with construction by Hutchinson Builders expected to be completed in early 2020.

CBRE director of residential projects Nicholas Clydsdale sold 25 apartments in the first three months of marketing in early 2018.&nbsp;

Its three bedrooms are priced from $1,340,000.

Koko at Broadbeach will have four apartments per floor throughout its 31 level tower by Morris Property Group.

The 100 apartment boutique development at 12-14 Elizabeth Avenue included five, three-bedroom half-floor sub-penthouses.

The level five, resident-only floor features Koko's resort-style amenities such as a pool, spa and a yoga lawn.

Half of the 94 two bedroom apartments are sold.

Chris Litfin is handling the marketing for the developer Barry Morris.&nbsp;

Litfin said owner-occupiers had been spurring the top end of the Gold Coast market.

“While once luxury would have been totally categorised as penthouses and sub-penthouses, now luxury is wrapped in the location and the amenity of the offering."

Since 2002 there have been around 125 sales above $2 million in Broadbeach, topping out in 2015 at $8 million in Oracle, which accounts for around a quarter of the luxury sales.

Off-the-plan apartment sales on the Gold Coast jumped in the recent quarter to be some 45 per cent higher than the prior quarter, according to property consultant company Urbis’ latest figures.

Interstate buyers decline amid surging Gold Coast OTP apartment sales

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Governments have seeded many key infrastructure projects throughout Australia, and the growing list of transport projects is painting a positive picture for the nation’s ability to absorb population growth, according to Urbis' latest report.
Across the national apartment market, Urbis found that 7% of available stock surveyed sold in the first quarter of 2019, continuing the downward trend from 2018.
Urbis Group Director, Clinton Ostwald, said “It is likely that we will see the floor of the sales valley in 2019 with a potential increase in sales activity in 2020.
“The nation is investing heavily in transport infrastructure to improve amenity in our cities, which will help support demand along corridors such as Sydney’s North West Metro and Eastern Suburbs Light Rail.”
While buyers await delivery of new infrastructure, Sydney recorded the lowest sales rate with only 4% of available stock surveyed selling during the quarter. Melbourne and Brisbane both recorded a sales rate of 7% down on rates seen in the past 12 months. The Gold Coast outperformed the major cities recording 230 sales, equating to 9% of available stock.
Stock
Urbis research shows approvals numbers decreasing each quarter over the past 12 months. The number of developments achieving minimum presale levels has also declined, resulting in a large pipeline of approved projects they feel are unlikely to move to construction in the near future.
They believe that given ongoing population growth from natural increase and migration, we are likely to see a shortage of new housing emerge over the next 12 to 18 months.
Melbourne’s Westgate Tunnel will uplift the Inner West and Western Corridor with approximately 7,500 apartments approved in these precincts.
Brisbane’s Cross River Rail in the Inner South will see a similar pattern where there are over 8,000 approved apartments.
In the longer term, Urbis expect that areas around West Metro in Sydney, Metronet in Perth and Metro Rail Tunnel in Melbourne will see increased apartment activity.
Buyer Profile
Owner occupiers have continued to be the most active buyers in the Australian apartment market, accounting for 51% of buyers in Q1 2019.
Foreign investors have been pushing sales in Sydney, Perth and the Gold Coast, accounting for over a quarter of buyers, but have dropped in Brisbane.
Interstate investors were interested in the Gold Coast (25%) and Melbourne (11%) whereas Sydney, Brisbane and Perth appealed more to local investors.
URBIS CITY SNAPSHOT
6.7 % of the surveyed available stock was sold in the January quarter across the five markets:
<ul>
<li>Sydney (4% of available surveyed stock sold, 485 new apartments launched)</li>
<li>Melbourne (7% of available surveyed stock sold, 295 new apartments launched)</li>
<li>Brisbane (8% of available surveyed stock sold, no new apartments launched)</li>
<li>Perth (6% of available surveyed stock sold, 161 new apartments launched)</li>
<li>Gold Coast (9% of available surveyed stock sold, 164 new apartments launched)</li>
</ul>
National weighted average sale price recorded at $726,329 for Q1 2019
<ul>
<li>Sydney – $1,091,935</li>
<li>Melbourne – $621,246</li>
<li>Brisbane – $638,409</li>
<li>Perth – $604,212</li>
<li>Gold Coast – $787,608</li>
</ul>
The most popular product type was two-bedroom, two-bathroom product at 46% of total sales. Across the cities the highest selling product types were:
<ul>
<li>Sydney – Two-bedroom, two-bathroom apartments – 41%</li>
<li>Melbourne – One-bedroom, one-bathroom apartments – 50%</li>
<li>Brisbane – Two-bedroom, two-bathroom - 56%</li>
<li>Perth – Two-bedroom, two-bathroom – 43%</li>
<li>Gold Coast – Two-bedroom, two-bathroom – 63%</li>
</ul>
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Owner occupiers accounted for 51% of apartment purchases lastest quarter

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Lower investor demand is being reflected in a shrinking apartment pipeline, according to a new report from JLL.
According to JLL’s latest 1Q 2019 Apartment Market Reports, the number of apartments under construction in Australia’s six major capital cities has fallen by around 10% over the past year.
The number of apartments being marketed has fallen by a massive 48% over the same period.
Melbourne’s construction numbers held strong with 18,540 apartments under construction, up 15% from a year ago.
However, the number of apartments being marketed in Melbourne fell by 51% over the past year (1Q 2018 – 1Q 2019).
Sydney has seen a 24% fall in construction over the past year and a massive 77% reduction in apartments marketed, while Brisbane experienced a 36% reduction in construction and 59% reduction in apartments marketed.
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These trends are a result of several factors influencing local market conditions, said Leigh Warner, JLL’s Head of Residential Research - Australia.
“The decline in the supply pipeline that has been happening for some time now very clearly illustrates how the pre-sales requirements put on developers by financiers in Australia makes our supply pipeline very responsive to prevailing demand conditions,” said Warner.
“We’ve seen quite a few projects that we’ve been tracking for some time be redesigned for other land uses including office, hotels and student accommodation by existing or new owners.
“This has particularly been the case in Melbourne.
“The medium-term danger now is clearly that it will take some time for the supply pipeline to get going again and, with still very strong levels of national population growth, we could quite easily move into supply shortages over the next few years at the national level.
“This could result in real pressure on renters in some parts of the country in particular and move us from a housing price affordability crisis into a rental affordability crisis if we are not careful.”
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With the exception of first home buyers, most buyer groups have been very inactive over the past few years, the JLL report said.
APRA’s macro prudential measures have been the major cause of slow investor credit growth, said Warner.
“The fall in overseas demand cannot really be attributed to any one thing,” said Warner.
“State and Federal imposts on foreign investors and credit constraints definitively contributed to the decline, but changes to Chinese capital restrictions likely had a much larger impact.
“And the late stage of the cycle and better opportunities elsewhere also likely played a role.”
With investors largely sitting out, developers are changing schemes to better target owner occupiers, the report found.
“In 1Q19 there was an increase in planning submissions lodged, reflecting both lapsed approvals being resubmitted and developers changing schemes to better suit current demand trends and more specifically target owner occupiers with smaller projects, larger apartments and higher quality finishes,” said Warner.
JLL expects conditions to remain tough in the short-term, with many parts of the country to see further downward pressure on prices and rents before starting to stabilise in late-2019.
“The combination of still tight credit, the Federal election and buyers holding off to see where prices will settle in some markets will all remain headwinds in the short-term,” said Warner.
“However, we think the medium-term outlook is very different.
“We have not significant over-built in aggregate and very low completions over the next few years, along with continued strong population growth, will see us quickly move into an under-provision of space and see rental markets tighten once more.
“The timing of this recovery will differ across the country, but it is likely to be the resource markets of Brisbane and Perth that lead the next cycle as economic and population growth continue to improve in these markets.
“The excesses of the booms in Sydney and Melbourne mean these markets will take longer for price growth to return, but lower investor activity could mean the turnaround in the rental market in these cities could be much quicker.”
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Number of apartments being marketed falls 48% in a year: JLL

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It takes around eight years to save to buy an apartment in Manly, often referred to as seven miles from Sydney and 1000 miles from care.
Now the northern beaches suburb has become the priciest entry point for first time apartment buyers.
It takes the average person eight years and five months to save for a deposit, according to Domain's latest data.
Manly's $890,000 entry point is the highest across the country. 
It's overtaken the pricey northern part of the Eastern suburbs, having seen its YoY deposit saving time get shorter by four months, compared to the Northern Eastern Suburbs area which has sped up seven months.
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In Melbourne, Bayside ranks as the area where it takes the longest to save for an apartment.
Its $570,000 entry price is the only area in the state where the entry price is over $500,000.
It takes around five years and nine months to save for an apartment, down from its six year time estimate last year. 
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