Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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Joel Robinson

First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

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.

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

Housing Approvals

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EXPERT OBSERVATION
After holding relatively steady through most of 2017 and early 2018, Australian housing finance approvals showed a notable pull back in the March month. The total number of owner occupier approvals declined 2.2% to be down 3.5%yr – below market expectations of a 1.5% fall but a touch better than industry figures that had pointed to a 3% decline.
The real weakness was around the value of investor approvals which dropped 9%mth to be down 16.1%yr. Estimates of investor approvals ex refi are down over 26%yr and just over 30% vs their 2016 peak. That puts the 2017-18 slowdown on a par with that seen in response to the macro-prudential tightening in 2015-16.
Combined, the total value of approvals ex refi fell 4.6%mth to be down 6%yr.
The detail on owner-occupiers showed a broad based decline.
The number of owner occupier construction approvals fell 4.4%mth to be down 4.3% on a year ago and 11% over the last two months alone. The number of owner occupier approvals for the purchase of newly built dwellings declined 1.4%mth but is still up over 5% on a year ago.
The number of approvals to first home buyers (FHBs) fell 4.6%mth but is still up 25%yr due to strong demand in NSW and Vic where state governments have increased assistance for first time buyers. The decline suggests the peak of this boost is starting to cycle through.
The state data showed owner occupier approvals ex refi down in most major states, the biggest fall in SA (–9%mth) with more modest declines in NSW (–2.6%), Vic (–1.6%) and Qld (–1.1%). WA (1.2%) and Tas (+1.5%) recorded slight gains. Owner occupier finance approvals ex refi are down on a year ago basis for every major state except Vic (–2.8%). Other, more recent, housing data suggests there has been a slight further softening in auction markets in April-May with price growth continuing to slow, in Melbourne in particular.
Overall, the March update points to a renewed weakening in demand. More slippage looks likely near term as lenders tighten loan criteria and borrowing capacity assessments – with more stringent assessments also potentially slowing loan processing times. Notably, the average value of owner occupier loans rose in the month and over the year to March, suggesting the softening in approvals to date does not reflect a tightening in borrowing capacity (although this may have been a factor in the investor loan decline).
To read the full report, <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2018/May/er20180511BullHousingFinanceMar.pdf" target="_blank">click here.</a>
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Matthew_Hassan-HHWHptmrw4

Australian housing finance approvals pull back: Westpac

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There are around 560 Local Government Areas in Australia – broadly local councils. But about 30 of the LGAs account for around half of the dwelling approvals (approvals to build new homes) in Australia.
In 2017 there were around 221,000 dwelling approvals granted by local councils. And the major cities of Sydney, Melbourne and Brisbane were represented in the top eight building regions of 2017.  
While demand for apartments appears to be peaking, building of free-standing houses in regions of high population is lifting with approvals in the last six months of 2017 well up on a year ago.
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<h1>What does it all mean?</h1>
In the past, you would have had to go into the suburbs to find the regions with the most home building activity, and perhaps well outside the city centres. But over recent years the focus has been on urban consolidation rather than urban sprawl. As a result the city regions of Sydney, Melbourne and Brisbane are now amongst the biggest building regions in Australia. And clearly, it has been apartments that have dominated the number of approvals recently given to build new homes.
The Australian Bureau of Statistics (ABS) provides regional building data at a local government area (LGA) and Statistical Area Level 2 (SA2). We have focused on the data provided at an LGA level. Reflecting the more consolidated approach to local government, the City of Brisbane covers the CBD and much of the metropolitan area with a population of over 1.1 million people. Dwelling approvals in Brisbane (C) totalled 10,646 in 2017, ahead of the Gold Coast (5,941). Melbourne City accounted for 5,601 dwelling approvals in 2017 despite only have a population of 136,000.
Notable in the list of biggest building regions was Camden in NSW. Despite a population well below that of other big building regions at just over 78,000, Camden was the 14th biggest region in Australia for dwelling approvals in 2017.
Dwelling approvals eased only 5.6 per cent nationally in 2017 and further declines are likely in 2018. The list of biggest building regions is useful in highlighting those regions that may be at most risk of a slowdown in construction. But population growth, rental vacancy rates, and changes in activity in industry sectors are other factors that need to be included in determining potential risks.
For instance, dwelling approvals in Wyndham in Victoria in the last six months of 2017 were 31 per cent higher than a year earlier and in Casey they were up 14 per cent. But in Melbourne City, approvals are down more than 8 per cent on a year ago. The apartment building trend in city centres appears to be peaking but house building is actually lifting rather than slowing.
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/9/builders.jpg" target="_blank">to enlarge.</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/2018/2/9/builders.jpg" alt=""> 
<h1>What do the figures show?</h1>
The City Of Brisbane had the highest number of dwelling approvals in 2017 at 10,646, followed by Gold Coast (5,941), Melbourne (5,601), Wyndham (Vic) (5,464) and Moreton Bay (Qld) (5,208).
The 30 regions with the highest number of dwelling approvals accounted for half of all the approvals granted in 2017.
There were 59 LGAs with no dwelling approvals in 2017. And there were a further 168 of the 557 LGAs with fewer than 10 dwelling approvals made in the year.
Queensland, Victoria and NSW were the most active home building states in 2017. The first Western Australia region in the list of building regions was Wanneroo (1,803) in 32nd spot. The first South Australian region was Charles Sturt (1,253) in 52nd spot. The first region in the Northern Territory was Palmerston (378) in 125th spot. The first region in Tasmania was Clarence (338) in 135th spot.
Nationally, dwelling approvals in the last six months of 2017 were only down 0.5 per cent on a year earlier. But while approvals in the ACT were down 35 per cent, and down 22 per cent in the Northern Territory, they were up 40 per cent in Tasmania, up 13 per cent in Victoria and up 12 per cent in South Australia.
In the Brisbane LGA, new dwelling approvals in the last six months of 2017 were down over 19 per cent on a year ago. In Sydney, approvals were down 9.5 per cent and in Melbourne, approvals are down by 8 per cent.
<h1>What are the implications for investors?</h1>
Home building trends have implications for regions, building trades, building material suppliers and home products retailers. There is an abundance of apartments being built at present, many close to capital cities. But apartment building is nearing peak levels. In contrast, house building regions are seeing a resurgence on interest.
While overall home building is expected to ease over the next few years, there will be sharp divergences across regions and across the types of homes being built.
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jrobinson-rf4aSBido9

Sydney, Melbourne and Brisbane among biggest building regions in Australia: CommSec

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GUEST OBSERVER
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Australian housing finance approvals to owner occupiers edged up 0.5% in June, undershooting market expectations of a 1.5% gain. The total number of approvals is down 4%yr.
The picture was ex-refinancing was more in line with expectations with a 1.9% gain to be up 3.4%yr.
Note that the macro prudential tightening measures introduced in late March and associated increases in increase rates for investor and 'interest only' loans have likely given indirect support to owner occupier loan activity.
That said, the value of investor loans was stronger than expected, posting a 1.6% gain to be up 5.7%yr. The total value of loans was up 0.8%mth – ex refi up 1.5%mth, 7.1%yr.
Note that a second round of mortgage rate increases for 'interest only' loans came through late in the month and is likely to impact in coming months.
The state detail is of limited use as investor loans are not split out in this release.
However a notable point in the loan type detail is the continued surge in construction-related finance approvals – finance for construction up 3.6%mth and finance for the purchase of newly built dwellings (which includes for settlement of ‘off the plan’ apartment purchases) up 3.5%mth. The former suggests non high rise construction is likely to lift while the latter is likely related to the wave of high rise apartment completions.
Overall, the numbers will be disappointing for regulators looking for a more material slowing in investor activity although the full impact of macroprudential measures has yet to come through.
Details Owner–occupiers (no.) 0.5%mth, –4%yr
– ex-financing (no.) 1.9%mth, 3.4%yr
Construction of dwellings (no.) 3.6%mth, 8.9%yr
Purchase of newly built dwellings (no.) 3.5%mth, 10.2%yr
Value of loans:
Owner-occupiers ($bn) 0.3%mth, 1.2%yr
Investors ($bn) 1.6%mth, 5.7%yr
Total ($bn) 0.8%mth, 2.9%yr
Total ex refi ($bn) 1.5%mth, 7.1%yr
 
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Housing finance approvals to owner occupiers edged up in June

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GUEST OBSERVER
Housing approvals recorded a strong June, but in trend terms are flattening out at levels well below last year’s peak. 
We expect further declines will come through in the remainder of the year, although it is likely the most sizeable falls have already occurred. 
Meanwhile, despite a small fall in June non-residential approvals remain elevated, led by strength in Victoria’s office segment.
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%208.36.24%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%208.36.24%20AM.png" alt="">
Housing approvals rose sharply in June, with 10.9% m/m growth more than offsetting the previous month’s decline. The monthly rise was driven primarily by the unit/apartment segment in New South Wales, which rose 43% m/m. Victoria also recorded a solid rise in June, up 6% overall, adding to May’s increase.
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%208.37.36%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%208.37.36%20AM.png" alt="">
The upshot of this strong result is that total building approvals (in trend terms) have started to stabilise some 15% below the peak of last year. We still expect further declines will come through over the second half of 2017, driven by tighter credit conditions and higher interest rates for investors, although the size of these falls will likely be tempered by the fact that the RBA is not yet embarking on a tightening cycle. At any rate, it appears that the sharpest falls in approvals are behind us.
Click to enlarge
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%208.38.40%20AM.png" alt="">
While NSW housing approvals are proving resilient, Victoria is the shining light for the non- residential sector. In trend terms, non-residential approvals in Victoria are 60% higher than at the end of 2016. The office segment has been the key driver of this strength, with monthly approvals now sitting at record levels. This is likely to provide some offset to the eventual decline in housing construction as the current backlog of work is eroded. 
Daniel Gradwell is the senior economist for <a href="https://www.anz.com.au/">ANZ</a>.
 
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jchancellor-FAypfDUnLy

Australian housing approvals still falling: Daniel Gradwell

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Dwelling approvals came in weaker than expected with a 5.6% fall in May vs market expectations of a 1.3% decline. Total approvals were down 19.7%yr.
The decline was driven by a 12.1% drop in ‘units’, with a 0.6% gain in private house approvals providing some offset. Nationally, May saw the second lowest monthly reading on high rise approvals since June 2013 – the lowest being the weather-affected read in March.
The detail points to a sharp drop in ‘high rise’ (–20%mth) concentrated in NSW and Qld where total approvals were down 16% and 10.5% respectively. 'High rise' approvals have slumped –45% vs a year ago. Other segments continued to hold up better, 'low rise' approvals down –8.4%mth, –16.5%yr and private detached houses approvals up +0.6%mth, –6.8%mth, broadly consistent with some firming in construction-related housing finance approvals. That said, all segments are down on a year ago.
All major states are also seeing total dwelling approvals down on a year ago, the one exception being SA which has seen a strong lift in recent months led by high rise approvals (though still at a very low level). Aside from this and the aforementioned weakness in NSW and Qld, total dwelling approvals lifted 4.7% in Vic and fell 8.9% in WA.
The value of renovation approvals rebounded 12.7% in May from a 15.2% drop in April but are still down 6.2%yr and trending lower.
Non res building is more promising with a 5.3% gain in the value of approvals in May maintaining a solid uptrend. Recent strength has been across a range of sub-segments including offices, retail, hotels &amp; recreation, and education.
In terms of the total value of building – new dwellings, renovations and non residential building combined – approvals are down 13.2% vs last year's peak but have risen 7.4% since the start of the year. The state split shows the pull back concentrated in NSW and Vic with other states posting a modest gain on a combined basis.
Coming back to the more specific picture around housing, the May approvals update again highlights the dominance of high rise in the current cycle with the dramatic reduction in approvals over the last year set to drive a downturn in construction.
As discussed elsewhere, our analysis suggests it will take some time yet for the turnaround to impact aggregate activity and will tend to see a longer more protracted downturn than the short sharp cycles seen in the past.
March quarter building activity data due next week will give an updated view on the pipeline, which also looks to have been impacted by weather events early in the year. 
Non high rise approvals and wider housing market conditions are an important swing factor that could amplify the downturn – so far both appear to be holding up reasonably well although the full impact of macro prudential measures and other negatives has yet to be felt.
Matthew Hassan is a senior economist for <a href="https://www.westpac.com.au" target="_blank">Westpac</a>.
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j.ballantyne1990-6AQqhLzZaK

Australian dwelling approvals weaker in May: Westpac's Matthew Hassan

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 GUEST OBSERVER
RBA’s decision today to drop interest rates to 1.75 percent couldn’t have come at a better time for NSW as home approvals start to fall.
The March 2016 home approvals produced by the Australian Bureau of Statistics have dropped to 5,235 from 5,996 in June 2015.
Detached house approvals for March sit at 2,182 in trend terms compared to 3,209 for Victoria.
Higher density approvals continue to decline in NSW from 3,676 in May 2015 to 3,054 in March 2016. It seems the drop has slowed a little and this continues the slowdown from the high point in mid-2015.
<a href="/images/2016/05/03/Screen%20Shot%202016-05-04%20at%2010.42.14%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/03/Screen%20Shot%202016-05-04%20at%2010.42.14%20AM.png" alt="">
The biggest drop in approvals has been in the non-residential sector where NSW dropped from a value of $832,561,000 in September 2015 to $618,651,000 in March 2016. This is a large drop particularly as Victoria recorded approvals of $790,675,000 which is well above the NSW figure. With NSW’s population much larger than Victoria’s, this is also an indication that we are not producing enough employment lands in NSW
In the light of the drops to approvals in NSW it is good news that the Reserve Bank has dropped rates by 0.25 percent to 1.75 percent. The Reserve Bank’s reduction was partly influenced by fear of a deflationary spiral and the slowing approval numbers in NSW seem to reflect this.
It is important that the NSW Government support more housing supply by simplifying the approvals system. It is still taking too long to get approvals in NSW which is causing the supply of new homes and jobs to underperform compared to Victoria.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Interest rate drop couldn’t have come at a better time for NSW home approvals: Chris Johnson

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Sydney's residential prices have dropped 1.6 percent in the December 2015 quarter, according to the ABS recent Residential property prices index release.
They are still 13.9 percent up however annually.
Canberra saw the biggest increase over the quarter, with a 2.8 percent increase, with Hobart increasing by 2.5 percent.
Melbourne and Brisbane increased by 1.6 percent each.
<a href="/images/2016/03/22/Screen%20Shot%202016-03-22%20at%2011.43.47%20am.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/03/22/Screen%20Shot%202016-03-22%20at%2011.43.47%20am.png" alt="" width="536" height="178">
<a href="https://twitter.com/PeteWargent" target="_blank">Pete Wargent</a> was one of the first to take to Twitter, highlighting the changes since 2008.
The Sydney price drop news quickly travelled the world, and was picked up by US-based <a href="https://twitter.com/autoforexalerts" target="_blank">@autoforexalerts</a> 
<a href="/images/2016/03/22/CeHNmOHW0AQ9BkI.jpg-large.jpg" target="_blank">Click here to see the enlarged chart</a>
<img src="/images/2016/03/22/Screen%20Shot%202016-03-22%20at%2011.50.19%20am.png" alt="" width="383" height="342">
 
DECEMBER KEY POINTS
 CHANGES TO RESIDENTIAL PROPERTY PRICE INDEX
<ul>
<li type="square">The price index for residential properties for the weighted average of the eight capital cities rose 0.2% in the December quarter 2015. The index rose 8.7% through the year to the December quarter 2015.</li>
<li type="square">The capital city residential property price indexes rose in Melbourne (+1.6%), Brisbane (+1.6%), Adelaide (+0.9%), Canberra (+2.8%), Perth (+0.5%) and Hobart (+2.5%) and fell in Sydney (-1.6%) and Darwin (-1.8%). </li>
<li type="square">Annually, residential property prices rose in Sydney (+13.9%), Melbourne (+9.6%), Canberra (+6.0%), Brisbane (+4.2%), Hobart (+3.5%) and Adelaide (+3.3%) and fell in Darwin (-3.2%) and Perth (-2.9%). </li>
</ul>
 TOTAL VALUE OF THE DWELLING STOCK
<ul>
<li type="square">The total value of residential dwellings in Australia was $5,885,967.2m at the end of December quarter 2015, rising $31,557.1m over the quarter. </li>
<li type="square">The mean price of residential dwellings rose $800 to $612,100 and the number of residential dwellings rose by 38,700 to 9,615,800 in the December quarter 2015.</li>
</ul>
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jonathanchancellor-7SQnKwU6yx

Sydney house prices fall: ABS

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The latest private residential building approvals chart in the latest chart pack from the Reserve Bank of Australia shows a marked increase in higher-density housing development between 2009 and 2015.
Approvals for detached housing dipped between 2009 and 2014. 
<a href="/images/2015/08/13/Screen%20Shot%202015-08-13%20at%2011.28.42%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/13/Screen%20Shot%202015-08-13%20at%2011.28.42%20AM.png" alt="">
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