Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

Joel Robinson

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

[smartcode_project:default project_id=136992 project_image_fid=293155]

With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

[smartcode_project_cta:default project_id=136992]

Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

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We are witnessing one of the strongest growth periods that Newcastle has ever experienced, across all price points with blue chip property auction properties having multiple competing bidders, according to HTW's February 2017 update.
The valuation firm says this peak in the market has been a constant over the past 24 months now and with current low supply levels, it sees no early signs of flattening for the early part of 2017.
With substantial infrastructure development, the changing image of a manufacturing town is creating a diverse town offering inner city university, various businesses, ample residential unit development and tourism, the report says.
A few major urban renewal projects either nearing completion or set in stone for the near future are: the new court house, Newcastle Uni development, Hunter Street mall revitalisation and light rail system to open up the harbour and the CBD.
The NSW government also introduced a new public transport system in December 2016, linking bus, ferry and light rail systems.
“Affordable housing is being sought in all suburbs that still have a minimal commute to town,” HTW says.
“Cameron Park, Fletcher, Maryland and West Wallsend are providing newly built residences within 30 minutes’ drive of Newcastle CBD, with current median prices ranging between $520,000 and $700,000.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-fletcher-124441722" target="_blank">6 Weller Street</a>, Fletcher (above) has been listed for sale for between $660,000 to $720,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cameron+park-123885198" target="_blank">16 Devonshire Street</a>, Cameron Park (below) has been listed for between $500,000 to $550,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/16%20Devonshire%20Street.jpg" alt="">
Port Stephens is a enjoying sustained growth and increasing returns after many years of negative growth and over representation of mortgagee in possession sales.  
This area is now experiencing low supply levels for vacant land in particular, with more families looking to relocate for the lifestyle this area offers.
“We expect this growth to continue into 2017 however given this area is heavily reliant on tourism, should the bubble burst, there is higher volatility in such markets.,” says HTW.
HTW says it hasn’t seen any signs of improvement in the mining town of Singleton that will change its commentary in the short term for 2017.
“Mines significantly scaled back investment in 2014 cutting jobs and costs, which trickled through to the entire economy in and around the town,” it said.
“There are a number of mines that have reopened or are planning expansion, with employment opportunities re-appearing.
“However this industry has not recovered and will take well into 2017 before a stronger economy is reflected in house prices.”
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jonathanchancellor-7SQnKwU6yx

Newcastle in one of strongest property price growth periods ever: HTW

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Strong buyer competition looks set to continue to drive prices up in the Illawarra through the early part of the year, according to HTW's February 2017 update.
The valuation firm says the major factors that may slow down the market could be interest rate rises along with tighter lending regulations.
Until these factors come to light, it predicts that the Illawarra residential property market will continue to perform strongly.
"Strong growth commenced in Wollongong in mid-2013 and each Christmas break has failed to dampen the market, with the new year often starting as strong, if not stronger," HTW says.
Demand for stock and sale price increases flowed down the coast to the Shoalhaven which also saw substantial growth in 2016.
“There is good demand across all price points and locations from basic cheapie $300,000 dwellings in Sanctuary Point through to prestige properties in the Northern Illawarra beach suburbs and Hyams Beach,” the report states.
2017 will continue to see the marketing or construction of a number of large unit complexes in the Wollongong CBD including Parq on Flinders Street (221 units), Signature on Regent Street (125 units) and Crown Wollongong (317 units) among others.
“There have been concerns voiced over off-the-plan unit sales in capital city CBDs recently by the major banks and whilst Wollongong doesn’t have the same scale, the CBD has had a massive influx of unit supply in the past four years,” HTW cautioned.
“Any shift in the property market could severely impact these projects with off-the-plan sales stalling and settlement risk increasing.”
Construction of the Berry Bypass will continue through 2017 and into 2018 with new passages of road being released when completed. This work is decreasing the travel time between Nowra and Wollongong making the distance between the two locations more convenient.
“As work progresses it is expected that the property markets will be more closely correlated in the future and Wollongong investors and owner occupiers who are seeking affordability will head to the Shoalhaven in larger numbers with Wollongong median prices continuing to increase,” says the report.
For the median price of $792,000 a house such as the one at <a href="https://www.realestate.com.au/sold/property-house-nsw-wollongong-122488026" target="_blank">127 Kembla Street</a>, Wollongong (above) can be purchased for $800,000.
For $525,000 a unit such as the one at <a href="https://www.realestate.com.au/property-unit-nsw-wollongong-124545186" target="_blank">25/26-28 Market Street</a>, Wollongong (below) can be purchased for between $520,000 to $570,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/25_26-28%20Market%20Street.jpg" alt="">
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Strong competition to keep pushing Illawarra prices higher: HTW

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The Goulburn Mulwaree Shire has seen strong sales activity over the course of 2016 with a lift in average price for the calendar year to $502,000 (13%) on 16% less number of sales (991 properties), according to HTW's February 2017 update.
The valuation firm says that buyers from Canberra, Illawarra and investors from Sydney have been prevalent over the past 12 months with this trend expected to continue.
“The rural / lifestyle property market has seen an uptick in sales activity together with the resurgence in rural property sales driven by increases in cattle and sheep prices,” says HTW.
There have been land sales in the new and modern residential estates in Goulburn, including the Belmore Estate, Merino Country Estate and the Mistful Park Estate, where there continues to be strong construction activity of new homes.
The market in the smaller villages through the region such as Crookwell, Taralga and Gunning is expected to remain steady over the next year.
“The rental market in Goulburn has remained steady and agents are reporting good interest from tenants at present, with the trend following the strengthening in prices to return gross yields in the order of 5%,” the report says.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-goulburn-124494006" target="_blank">3 Oakwood Avenue</a>, Goulburn (above) is available for purchase for $510,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-goulburn-124382870" target="_blank">41 William Street</a>, Goulburn (below) was sold recently for $500,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/41%20William%20Street.jpg" alt="">
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Goulburn residential estates attracting Sydney investors: HTW

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The Central Coast property market heated up during 2016, but opinions differ on what lies ahead for the region, according to HTW's February 2017 update.
The valuation firm says it thought the Christmas break might provide the time to take a breath and regroup, but not so.
Instead, the market just took up where it left off and it’s just as busy.
“For a while now, we have been talking of the end of another cycle in property when we can again see the market slow, prices come back a little before stabilising and picking up again,” the report says.
“That’s how it has always been, but not so or not yet anyway.
“Local real estate agents are divided on where we are heading with some seeing a continuation of the hot market, others cannot see it lasting much longer and a few (a lot actually) are saying that the only thing they are certain about is that they don’t know!
“For our part, the market just seems to keep rolling with each new reporting period throwing us a few surprises as to what’s moving and by how much.”
HTW says the signs are that the market will continue to grow while buyers looking to expand their portfolios are being squeezed out of the Sydney market and are finding that property prices on the Central Coast remain reasonable.
Older houses under the stewardship of new owners are being renovated, modified and extended.
These areas include the peninsula suburbs of Narara, Niagara Park and Wyoming.
In previous years Umina Beach, Woy Woy and Ettalong Beach have been the focus of attention and continue to be so, but a little less overall such is the pricing now within these suburbs.
“We think of popularity and activity radiating out from a central point and this could well be the year for areas at the northern end of the region,” HTW says.
“As suburbs go through their cycles and buyers look to get in early on the next big thing, we are thinking (once again) that Budgewoi, Buff Point, Lake Munmorah, Gwandalan and Summerland Point may become popular. 
“Always sure to draw an opinion is the Gosford City Centre.
“The developers are back in town with numerous projects completed during 2016 and more under construction."
For $445,000 a house such as the one at <a href="https://www.realestate.com.au/property-house-nsw-budgewoi-124500926" target="_blank">206 Scenic Drive</a>, Budgewoi (above) is available for $429,000.
Sales rates are proving the unit market is popular once again.
“Commencements seem to be well managed meaning that the potential for a glut of units on the market simultaneously should be avoided.
“Even more encouraging is the quality of the new projects under way with higher standards the norm.”
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Will the good times last for the Central Coast?

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There is an atmosphere of cautious optimism across the Southern Highlands, according to HTW's February 2017 update.
The valuation firm says that buoyed by an 18% increase in average prices to $892,000 for the year to December 2016, the townships of Moss Vale, Bowral and Mittagong have been stand out performers, with access to infrastructure and price point being the main drivers of that growth.
Local real estate agents have been saying that sales activity has been brisk in the face of stock shortage, the report states. 
“This has been borne out with a 24% decrease in the numbers of sales year on year to 1,600 properties. It is fair to say the rental market is tight with lack of stock driving rent increases of minimum 10% over the past 12 months.”
For the median price of $549,000 a house such as the one at <a href="https://www.realestate.com.au/property-house-nsw-moss+vale-124566046" target="_blank">45 Hoskins Street</a>, Moss Vale (above) is purchasable for between $525,000 to $575,000.
Similarly a unit such as the one at <a href="https://www.realestate.com.au/property-unit-nsw-moss+vale-124428450" target="_blank">1/8 Arthur Street</a>, Moss Vale (below) is purchasable from $400,000, which is $20,000 cheaper than the median price of a unit in Moss Vale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/1_8%20Arthur%20Street.jpg" alt="">
The Highlands property market is heavily influenced by what is happening in Sydney and historically lags that market by six to 12 months, HTW says. It expects to see continued strong demand for properties close to the townships at price points up to $1.5 million.
“Above that price point the market becomes less defined with the choice of residential, rural/residential and lifestyle acreage properties across the villages and hamlets coming into consideration.”
Established precincts such as Darraby Estate, (Moss Vale) Renwick and Nattai Ponds (Mittagong) and Bingara Gorge (Wilton) have seen strong sales over the past 12 months, with further stage releases scheduled for 2017.
Likewise, the soon to be released subdivisions of Retford Park (Bowral) and Throsby Views (Moss Vale) have seen strong pre-sales activity.
The recent announcement by the NSW Department of Planning that Wilton Junction has been designated as a priority growth area has brought the reality of the new township to accommodate up to 16,500 dwellings across the 4,175 hectare site located off the M5 East Freeway a step closer.
Other areas earmarked for residential development include Tahmoor and Appin.
Closer into the existing townships of Mittagong, Bowral and Moss Vale it is anticipated there will be limited releases of land predominantly restricted to resubdivision of appropriately zoned larger lots.
Regarding infrastructure, the state government has committed to a $50 million upgrade of the Bowral Hospital in 2017.
In September 2016, it called for expressions of interest regarding a public private partnership for the operation of the hospital.
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Sales levels strong in NSW's Southern Highlands: HTW

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The residential market in Canberra was relatively stable throughout 2016, according to HTW's February 2017 update.
The valuation firm says market activity declined during the federal election, however record sales suggest a return of confidence in the market which it expects to continue into 2017.
The state election held in October resulted in a Labour win and secured the future of the proposed light rail scheme which will provide a new transport system for Canberra with the first stage connecting North Canberra to the City with stops at Harrison, Franklin, Gungahlin, Mitchell and inner north suburbs.
This may have an effect on residential property prices in suburbs serviced by the new transport system, HTW says.
The Mr Fluffy Asbestos Removal Scheme is continuing into 2017 with more vacant land blocks coming onto the market.
Overall the resale of affected blocks was strong in 2016 with the highest sales exceeding $1 million in the inner south suburbs.
HTW says as a result of these sales there has been a number of dual occupancy dwellings beginning construction that are slowly being introduced to the market.
The number of new apartments coming onto the market has continued to build with more stock expected during the start of 2017.
“The threat of oversaturation is a very real one and continues to be observed in several market segments including the Flemington Road corridor in Gungahlin and the Belconnen Town centre,” says the report.
“There has also been significant apartment growth in Molongolo Valley and Tuggeranong town centre.”
There were record sales in the detached housing market for a large number of suburbs throughout the ACT in 2016.
There was also significant growth in established suburbs especially in the Woden Valley and inner north.
HTW expects this trend to continue into 2017 in suburban areas of Weston Creek and Woden Valley and regions within close proximity of the light rail network.
At the average price of $650,000 a house such as the one at <a href="https://www.realestate.com.au/property-house-act-duffy-124659574" target="_blank">97 Somerset Street</a>, Duffy (above) is available for purchase.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-act-lyons-124423218" target="_blank">6/2 Corinna Street</a>, Lyons (below) was recently sold for $235,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/6_2%20Corinna%20Street.jpg" alt="">
There are continuing residential land releases in Canberra’s north which is providing a steady supply of new detached housing.
Construction of detached dwellings in Moncrieff and Denman Prospect are now entering the final stages with a number of completed dwellings starting to enter the market.
“We anticipate 2017 will be a year of flat growth with demand shifting further away from the unit market in most segments and towards new detached houses,” says HTW.
“If the economic outlook continues to strengthen, it is possible the Reserve Bank may increase rates, which would have a significant impact on overall affordability.”
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Light rail project to boost Canberra suburbs: HTW

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Investor demand in Sydney for industrial assets remains strong, according to HTW's February 2017 update.
The valuation firm says there is healthy interest from offshore investors in larger scale assets in the west with long-term, strong lease covenants and established tenant profiles compressing yields sharply to record sub 5-6% yields. Prime initial yields in the west compressed by a further 15 basis points from June to September 2016 on the back of strong investment volumes.
Owner occupiers have been strong in the Sydney market, particularly in the construction, food retail and technology sectors and primarily driven by record low interest rates. The strong competition for assets has driven capital values higher and has seen yields firm with effective rents across Sydney increasing by an average of 5%. This has seen investors enter the secondary market in the search for higher yields.
“With prime yields compressing, we anticipate that the spread between prime and secondary industrial assets will tighten over the coming 12 months as investors look for higher performing returns with development upside,” the report said.
Average rental growth performance is strong, with net effective rents up by 3% year on year, higher than their 10 year average growth rate of 2.3%.
Incentives have eased slightly to around 15% over the past six months as a result of this strong demand, however rental pricing remains a significant driver of tenant demand.
Owner occupiers remain dominant in the city fringe, north and south Sydney.
In the strata unit market popular amongst owner occupiers, recent off the plan developments have seen significant increases in capital values rising by over 30% in the past 18 months.
According to NSW government figures, Sydney will benefit from the largest infrastructure spending of any state in Australia to 2020. An estimated $73.3 billion is slated, including $20 billion dollars in just one year. Budget allocations include approximately $9 billion dollars for rail projects, $2.5 billion dollars on upgrades to Sydney’s road infrastructure and over $4.5 billion dollars on health, education, water security and sports infrastructure.
Western Sydney is predicted by HTW to be a major recipient of the spending which will place it at the epicentre of Sydney’s industrial growth throughout 2017 and beyond. As well as the significant investment in infrastructure, this is driven by the availability of labour and (comparative) availability of land, above trend population growth and corresponding increase in demand for services.
“The lack of available land in traditional, inner city industrial precincts in areas such as Marrickville, Redfern and Alexandria, due to high land values, rezoning for high density mixed use, residential use and gentrification, places Western Sydney in a prime position for future growth,” HTW said.
“As an example, from a rental perspective, pricing for an industrial facility in Alexandria is typically $150 to $250 per square metre on a net face basis, however after an office conversion these rents escalate to between $350 and $425 per square metre.
“With the Sydney market being somewhat isolated from the impact of the auto industry shutdown, volatility in the resources sector and mining investment, commodity price volatility and residential property downturn (thus far), we expect industrial effective rents to rise in the next 12 months by between 3 percent and 5 percent.”
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Demand for Sydney industrial property remains strong: HTW

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Sydney’s property market will have another year of steady growth, according to HTW's February 2017 update.
The valuation firm says 2016 was a year of contradictions: an unsteady start with much speculation about the future; low investor confidence; higher bank interest rates than the RBA alongside progressively strong clearance rates; short selling periods and continual record breaking of the median price.
The market in 2016 continued to produce high auction clearance rates regularly above 80% across the greater Sydney metropolitan suburbs. This has can be attributed to low stock levels and continued buyer demand, HTW said.
The report said this level of demand will continue in 2017 and possible interest rate cuts suggest that stable growth will continue throughout the first half of the year and a possible slower second half of 2017.
HTW predict to see on average double digit growth in Sydney throughout 2017, however there may be an oversupply of units due to their concentration in certain pockets.
New quality stock in blue chip areas appears to be in high demand as does detached dwellings in the $3 million and above price point, it noted. 
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Sydney to have another year of steady property growth: HTW

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The oversupply of units caused by diminishing yields and possible increased borrower costs could be a major factor for the Sydney unit market, according to HTW's February 2017 update.
The valuation firm noted minor price declines in 2016.
It said Waterloo’s median price fell 0.3% after three years of double digit growth, according to data from pricefinder. com.au.
"This decrease in the median price in developments in the Waterloo area such as Rosebery and Zetland are from a lack of quality and size in each individual unit," HTW's report suggested.
"As these areas are highly driven by investors, the changes the Australian Prudential Regulation Authority (APRA) made to investor borrowing in 2016 will continue to slow the investor market," it forecast.
The APRA changes slowed investment in these areas more than a highly owner occupied market, such as the detached housing market in the $1.5 million to $3 million price point.
HTW predict strong growth for the detached housing market as high demand and low stock drive the market upwards and push affordable housing further out of reach within this region. It expects the $1.5 million to $3 million detached housing market to remain strong with the continued issue of limited supply throughout all suburbs in the inner west.
The report says the firm is seeing many up-sizers active in this price range, especially families who want to remain within the inner west. Traditionally these up-sizers would relocate to further out suburbs that represented far better value.
"However, these suburbs are now matching price points to the inner west suburbs closer to the CBD mainly due to now been linked by improved infrastructure such as the Inner West Light Rail.
"Purchasers may get slightly more land by up-sizing to these suburbs, but the gap seems to have closed over the past few years."
Burwood, Strathfield and Homebush are on HTW’s watch list for 2017 as unit oversupply and more development proposals are predicted.
It has seen longer selling periods in some of these completed new unit complexes compared to 12 months earlier.
"There also tends to be a trend towards the construction of smaller, low quality units which heightens the already talked about concerns in this new unit market sector."
An oversupply of units in certain inner city suburbs represents the greatest threat to Sydney property investors, according to HTW's February 2017 update. However, the general overview is rosy.
The firm says it has noticed a number of valuations for new units upon settlement not meeting their off the plan prices when purchased during stronger market conditions. It says this is more commonly in some second tier suburbs in western Sydney and additionally in some pockets of the northern suburbs particularly with concentrated new stock and a distinct difference in value ranges between the new and original older style unit prices.
Whilst mostly occurring for overseas buyers, this could trigger a flow of sales post settlement due to difficulties obtaining finance and rental yields not meeting expectations to service mortgage repayments thanks to high investor participation, HTW say.
The areas with the lowest predicted growth for the inner city are where there may be an oversupply of new units around the city fringe areas, as it appears there will be less demand and more supply in these areas so more completion for the purchaser dollar. Developments that have been completed to cash in on demand will fall short in quality and therefore appeal to both owner occupiers and potential tenants.
Other areas we believe are at risk of oversupply or heavily investor led include Wentworth Point, Carlingford, Epping, Olympic Park, Macquarie Park and Parramatta. The supply of new units in these areas is well above long-term averages.
On average, HTW considers that 2017 will see a steady growth across all areas with buyer confidence generally high. The areas it will be watching with the most growth potential appear to be the $2 million plus price bracket which in some pockets will represent land value and opportunity to develop or value add and in some will be properties with a high standard of finish and high appeal to just unpack the family bags.
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Burwood on oversupply watchlist as APRA changes to slow investors in Sydney: HTW

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Quality dwellings and units in Sydney’s southern suburbs are predicted to be stronger performers for the year ahead, according to HTW's February 2017 update.
The valuation firm says the end of 2016 saw highly renovated and new high quality properties perform better than older or average stock. Poorly renovated and inferior stock appears to be taking longer to sell and is not achieving vendor expectations.
Iridium Developments recently purchased four freestanding unit blocks from two strata corporations for $54 million in Cronulla.
HTW anticipates that the price gap between new and older stock will widen by the end of 2017.
"There is high demand and currently not enough stock to match and therefore potential growth for the $2 million plus unit bracket."
The report says high quality units in the suburb of Cronulla is a market it expects to perform well this year.
"New units from $2 million with a very high standard finish and with a possible view will potentially be our best performer this year.'
The main drivers of this unit market are considered to be the shift in lifestyle for downsizers who have sold their family home in a strong market and are now looking for a quality, low maintenance lifestyle in Cronulla to remain in their local area with access to views, the beach and shops.
Although Gymea had a strong 2016, HTW predicts that 2017 will be another year of double digit growth.
Gymea has been popular with young families of late, due to the growing café scene, upgrades to the Gymea Bay Road and relative affordability of this location within the Sydney basin.
Although the southern suburbs have had strong growth over the past three years, the report nominates Engadine is as a relatively affordable market with a median house price of $950,000 for December 2016, according to CoreLogic RP Data.
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