A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

[smartcode_project:default project_id=134951 project_image_fid=5829]

Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

[smartcode_project_cta:default project_id=134951]

Staff Writer

La Vera delivers a nature-connected address within Macquarie Park’s core

<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<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/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292861]

The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

[smartcode_project:default project_id=30959 project_image_fid=310337]

Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

Northern Beaches

Progressive Australian property developers Lindsay Bennelong are set to add a new landmark project to their burgeoning portfolio.

The group has lodged plans for a boutique development on a prime beachside site in Manly.

Just five apartments will be built across a four-level building at 61 North Steyne, four three-bedroom units and one two-bedder.&nbsp;

With close proximity to Manly’s town centre and the CBD, the area is characterised by a mix of building types which have evolved and changed over the years, with the latest residences set blend seamlessly with the coastal surrounds.

<img alt="Render of the North Steyne development " data-entity-type="file" data-entity-uuid="9e6120c3-3b2c-4566-abe9-0dbb8ee6fa92" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-11-21%20at%209.46.39%20am.png?VersionId=jZOxyXcsg8efn67l62MtdCE7Ndk4Arr6" />Render of the Manly development at 61 North Steyne.&nbsp;

Designed by Platform Architects, the generously-sized apartments boast views across Manly Beach, complete with expansive outdoor areas fronting the water.&nbsp;

A feature screen has been incorporated in the design to maintain privacy to neighbours and between apartments, with the elements also creating visual interest and articulation to the building as well as providing an element of solar control. The building is also proposed to be constructed of concrete and masonry to enable heat gain to radiate in the cooler evening hours – again contributing to a comfortable temperature.

The site benefits from a portion of road reserve that was dedicated for road widening. That dedication has now been abandoned and the land to south at 60 North Steyne has incorporated the area into their landscaped front setback design.&nbsp;

“We feel that stepping down a corner site that is flanked by taller buildings would result in a less than desirable urban design outcome and as such feel a compatible building height is more appropriate," Platform Architects noted in their design submission.

Landscaping has been incorporated into the design to give all dwellings access to greenery, including large trees, shrubs and ground covers, contributing to the local flora and microclimate. Landscaping is not only limited to the ground floor level but is also incorporated at higher levels, with a green roof over the carlift and planters on the terraces and balconies. Landscaping thus plays an important role in the overall expression of the design, with the green spaces also for water absorption, re-use and filtering of the run off into the existing drainage systems.&nbsp;

<img alt="Render of the North Steyne development " data-entity-type="file" data-entity-uuid="1ebe2a4c-5311-48ea-adbc-7669442c4dc9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-11-21%20at%209.46.57%20am.png?VersionId=TubLajRLd7gWytFTIZe9t2r0tXLBcEzC" />Render of the Manly development at 61 North Steyne.&nbsp;

The proposed density on the site is desirable due to the site’s close connection with job opportunities in Manly Town Centre, along with public transport to the city and other suburbs. In addition, the location of the site is well suited to accommodate future residents with easy access to public amenities and transport within walking distance.

Lindsay Bennelong are well known in Sydney's Eastern Suburbs, having completed the sold-out Vue in Bondi Junction. The group’s other Bondi Junction project, Whitton Lane, is currently on the market. They also have plans for a small project in Maroubra.

[smartcode_project_cta:default project_id=136806]

Just five apartments will be built across a four-level building at 61 North Steyne

alisonwarters@gmail.com

First look: Lindsay Bennelong lodge plans for beachside Manly apartments

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EXPERT OBSERVER

Six months ago it was hard to find any suburbs across the Greater Sydney Area with rising buyer demand, but now there are many. It’s been a sharp turnaround – but an uneven one.

Overall, this is the strongest Sydney market I’ve recorded in the five years that I’ve been conducting quarterly surveys of sales activity and price trends. 

Our Winter 2019 survey pinpointed the bottom of the Sydney trough and our latest survey, now under way, provides strong evidence of the market revival, showing just how much has changed since the middle of last year. 

Locations with rising markets, as measured by sales activity, can be found in 22 municipalities across the Sydney metro area, but the revival is not evenly distributed. The greatest uplift is being felt at the upper end of the market and many suburbs have not yet experienced significant improvement.

The number of suburbs classified as declining markets has dropped a lot but there are still 12 suburbs with deteriorating demand – and another 12 that have that characteristic as well as high vacancies and weak prices, which we therefore classify as danger markets.

There danger markets are all locations where apartments predominate. Seven of them are in the Parramatta LGA, where high levels of new apartments have been built in recent years and vacancies remain in the 5% to 8% range in several cases.

The leading market in the Greater Sydney Area is the Northern Beaches LGA. It has nine suburbs with rising sales activity, plus six others with steady buyer demand. 

Quarterly sales in Newport have been 28-36-53-64, while Freshwater and Frenchs Forest are stand-outs for maintaining highly consistently sales levels throughout the post-boom correction phase and now in the recovery.

The Inner West LGA is also performing well, with six growth suburbs and nine others with consistent buyer demand. Quarterly sales in Annandale have been 17-32-36-45-64, while Leichardt has been 59-68-77-105, patterns that will likely drive prices higher.

The Sydney City LGA has growth suburbs, but also shows the importance of not generalizing when discussing real estate in a major city. The central city LGA has five suburbs with growing sales activity, 11 with steady markets, three where demand continues to decline and one suburb which we classify as a danger market. All that diversity exists in one municipality. 

Blacktown is the strongest of the outer-ring markets, with five growth suburbs and 11 with steady sales activity. Schofields continues to stand out with rising sales activity – quarterly sales over the past two years have been 64-82-99-105-120-150-196-162.

Other LGAs with three or four growth suburbs include the Hills Shire, Ku-ring-gai, North Sydney and Sutherland municipalities.

This new survey also shows the recovery in the Canterbury-Bankstown area. Six months ago, 12 suburbs in this LGA were rated as declining markets, with sales levels dropping markedly. But now most of these suburbs have been re-classified as plateau markets, as sales levels start to improve. And four suburbs of the Canterbury-Bankstown LGA have shown sufficient revival to be classified as rising markets.

Across Greater Sydney, prices are reacting to the uplift in demand that is generally occurring in many locations, but most suburbs still have median prices below the levels of 12 months ago. This applies to 92% of suburbs for houses and 85% of suburbs for apartments.

But many suburbs have shown increases in the latest quarter. Examples include Mona Vale (median house price down 8% annually but up 2.3% in the latest quarter); Collaroy (down 15% in annual terms but up 9.5% quarter-to-quarter); Bronte (down 9% year-on-year but up 2.6% in the latest quarter); and Killara (down 15% annually but up 3% quarter-to-quarter). 

This is a pattern I expect to see becoming increasingly prevalent as the uplift being led by the more expensive areas spreads more widely across the metro area.

Terry Ryder is the founder of hotspotting.com.au <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">ryder@hotspotting.com.au</a> twitter.com/hotspotting

PICTURE SOURCE: <a class="external text" href="https://www.flickr.com/photos/34120957@N04" rel="nofollow" target="_blank">Alex Proimos</a>
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terryryder-YECXbqmri2

Northern Beaches rising buyer demand drives Greater Sydney to strongest Sydney market: Hotspotting's Terry Ryder

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Plans to slash travel times for drivers and public transport commuters in Sydney’s north have taken a major step forward with the Beaches Link Environmental Impact Statement (EIS) released today. 

Premier Gladys Berejiklian said the mega-project will include twin tunnels under Middle Harbour with three lanes in each direction, allowing commuters to avoid peak hour congestion on the Spit Bridge, Military Road and the Roseville Bridge. 

“Beaches Link will transform the way people move to and from the Northern Beaches, bypassing 19 sets of traffic lights through The Spit, Mosman and Neutral Bay and help save up to 56 minutes between Dee Why and Sydney airport,” Ms Berejiklian said.

Residents in Neutral Bay, Mosman and Cremorne are set to benefit from the new tunnels, with less congestion and noise and traffic volumes expected to reduce by around a third along Spit Road.

<img alt="" height="1495" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beaches_link_render_2.jpg" width="2000">

Ms Berejiklian says the Western Harbour Tunnel and Beaches Link program is expected to support around 15,000 full-time jobs.

Minister for Transport and Roads Andrew Constance said the project will integrate with new and existing public transport connections.

“There will be the opportunity for new express bus services to key centres including St Leonards, Macquarie Park, North Sydney and Sydney CBD, and direct access to North Sydney to interchange with the new Sydney Metro,” Mr Constance said.

“We’re also planning more than five kilometres of new cycle and pedestrian pathways, including links to the Northern Beaches Hospital precinct.

“This is the next stage of the consultation process, giving the community another opportunity to have its say.

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“Transport for NSW has adapted its community engagement in line with current health advice regarding COVID-19, and will be providing enhanced online engagement with virtual information sessions throughout January and February.

“We’ll also work closely with locals in Balgowlah, where we’ll be returning an area equivalent to around 90 per cent of the current open space to the community. Further consultation will be held with the community on open space in Balgowlah later in 2021.”

The tunnel will be up to 108 metres in depth (approximately 33 storeys) and include new connections on the Gore Hill Freeway at Artarmon, Warringah Freeway at Cammeray and direct access onto Burnt Bridge Creek Deviation at Balgowlah and Wakehurst Parkway at Seaforth.

The Wakehurst Parkway will be widened from one lane to two in each direction between Seaforth and Frenchs Forest.

<h2>Sydney properties selling now:</h2>

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The mega-project will include twin tunnels under Middle Harbour with three lanes in each direction.


urban.com.au

Northern Beaches set to boom with Beaches Link announcement

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Risk appetite and investment strategy will play a large role in deciding where to invest, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
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The HTW report suggest the entry level price point of $700,000 and products on offer appeal primarily to first home buyers and investors.
"An investor should be mindful of vacancy rates, competing stock levels and planned infrastructure upgrades, making sure to utilise the most recent market evidence to justify any decisions," the valuation firm said. 
Value levels have performed better than forecast during the COVID-19 period, with CoreLogic reporting a 0.4 per cent decline in dwelling values across Sydney in May. 
Median data suggests the Northern Beaches is still currently well above 2019 levels for both unit and dwellings. Sqmresearch.com has current median listing prices of dwellings at $2 million, well above the May 2019 low of $1.69 million.
Given that $700,000 is well below the median dwelling value of $1.8 million (CoreLogic as at March 2020) it would take something fairly unusual and a property in Wheeler Heights just so happens to have sold recently, the report noted. 
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-wheeler+heights-106266168" target="_blank">65A Penrith Avenue, Wheeler Heights </a>(pictured above) is a lower level duplex built circa 1970’s that has been renovated internally and features one bedroom, one bathroom, open plan living room and entertaining deck and courtyard.
This compact semi-detached dwelling sold in February 2020 for $700,000 and was last leased for $450 per week in 2019.
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A budget of $700,000 provides a plethora of opportunities in the unit market with a number of suburbs including Mona Vale, Dee Why, Avalon, Manly, Collaroy, Newport and Brookvale having a range of unit types available for under $700,000 (some as low as $450,000). 
"One-bedroom units are available from as low as $500,000 in Dee Why, so $700,000 would allow the opportunity for a modern or renovated one-bedroom unit. 
"Alternatively, older style two-bedroom units are available from circa $650,000," the valuation firm said. 
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A recent example is<a href="https://www.realestate.com.au/sold/property-apartment-nsw-dee+why-133312094" target="_blank"> 8/14 Lismore Avenue, Dee Why</a> (pictured above).
The renovated circa 1970’s two-bedroom, one-bathroom unit sold for $665,000 on 28 May.
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Dee Why would offer a higher yield potential (circa four per cent) although historically offers lower capital growth prospects in comparison to other nearby suburbs. 
Alternatively, an older style unit in a busier position in Balgowlah or Manly is available for a similar value level, the report noted. 
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j.ballantyne1990-6AQqhLzZaK

What a lazy $700,000 can buy on Sydney's Northern Beaches: HTW residential 

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The Northern Beaches area is heavily owner- occupier driven and most renovations occur for this purpose, whether that be for first-home buyers looking to add value or families looking to upsize but remain in their existing homes, according to the latest Herron Todd White (HTW) residential report. 
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The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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The report notes Freshwater is one of the most active suburbs for home renovations at the moment.
"The suburb has one of the highest number of outstanding development applications in the Northern Beaches Council with around 30, particularly high considering the size of the suburb," the valuation firm said. 
Entry level into the Freshwater market for housing is typically $1.5 million to $2 million, depending on the position in the suburb, land characteristics and accommodation size.Generally speaking, construction works typically return their cost and often a profit.
"It is prudent to analyse sales in the local area of finished, renovated homes if creating equity is a major factor in your decision to renovate. 
"The sales will assist in determining what the market is willing to pay for certain products, help set a construction budget and provide design ideas and concepts that the local market is receptive to," the valuation firm said. 
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A recent example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-freshwater-133208874" target="_blank">70 Soldiers Avenue, Freshwater</a> (pictured above) which sold for $2.725 million on 9 April 2020.
This circa 1960s, four-bedroom, three- bathroom property recently underwent a full renovation and is a good benchmark for owners looking to renovate their existing homes in the suburb.
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Freshwater - the most active suburbs for home renovations in the Northern Beaches: HTW residential 

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The first home buyer market is more sensitive to general economic factors such as interest rate movement and fiscal policy, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what things traditionally matter to property markets and provided some take on how current crisis is playing into decision making. 
The report suggests that Localised factors such as supply levels also play a part, with affordability being a key market driver. 
Brookvale is a popular sublrb for first home buyers, having one of the lowest median unit prices of $745,000 as at December 2019, in comparison to the Northern Beaches median of $875,000 (source: CoreLogic).
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"The area has seen strong development over the course of the past decade, resulting in a healthy level of stock that has consequently placed downward pressure on values," the valuation firm said. 
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Northern Beaches building approvals dropped drastically in 2018/2019 and are tracking at similar levels for the 2019/2020 financial year.
"There is a clear correlation between volume levels and building approvals and we would anticipate these factors to impact the first home buyer unit market," the valuation firm said. 
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"For the upgrader market, we’ve seen strong demand from buyers outside of the Peninsular really driving this level of the market," the valuation firm continued. 
Realestate. com.au reported that 2019 was the first time more outside buyers were searching for properties on the Northern Beaches than those within.
The inner-west and eastern suburbs were key regions, with factors such as infrastructure upgrades including the B-line providing faster commuting options to the CBD, increase in flexible working arrangements allowing individuals to work from home more frequently, and the affordability of the area in relation to other Sydney regions proving key factors in this shift.
At the prestige end, Palm Beach is synonymous with prestige and a large number of these properties are owned by high net worth individuals from outside of the Northern Beaches, however there is also a strong local prestige market along the coastline, the report noted. 
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<a href="https://www.realestate.com.au/property-house-nsw-collaroy-133077790" target="_blank">67 Edgecliffe Boulevard, Collaroy Plateau</a> (pictured above) is currently on the market through Knight Frank with a reported initial guide of $10 million, roughly $5 million above the suburb record.
According to the HTW report, this brand new luxury asset is sure to appeal to both local and international markets due to the ultra-modern finishes, unique position and unbeatable views.
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"Whilst we have not seen any recent change in market sentiment and values to date, the outlook for the prestige sector remains rather uncertain.
"If the current global economic turmoil continues, we consider this will likely have a negative impact on demand and value levels," the valuation firm concluded. 
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Northern Beaches prestige sector remains uncertain in the time of COVID-19 pandemic: HTW residential 

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Sydney’s infrastructure boom is rolling on with the North Connex tunnel opening later this year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
"This tunnel will take five thousand trucks per day off Pennant Hills Road and reduce travel times between the M1 and M2. We believe the big winners will be the more affordable suburbs in the upper North Shore of Mount Colah, Berowra and Mt Ku Ring Gai," the valuation firm stated. 
These suburbs will have a greatly reduced travel time to the CBD and the M2 motorway.
"Keep an eye on the median house prices in these areas over the next few years," the valuation firm said. 
The report suggests the Northern Beaches market as a whole is expected to stabilise, barring any significant political or financial legislative changes.
"If 2019 taught us anything, it was how these two factors heavily contribute to underlying market conditions and overall market sentiment, particularly in the entry and middle sectors," the valuation firm said. 
How the Reserve Bank manages the Australian macro-economic issues will likely have the largest impact on the performance of the housing market, with housing stock levels anticipated to remain fairly low.
"We are anticipating blue-chip suburbs along the eastern side of Pittwater Road to outperform their western counterparts. Special areas of interest include Ingleside, Avalon, Warriewood Valley and Frenchs Forest," the valuation firm said. 
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The Ingleside Precinct Plan went back to the drawing board in 2019 and it will be interesting to see the revised plans that the council and New South Wales state government re-submit. 
Still a medium to long term prospect, but the progression of this area is something to keep an eye on in 2020, especially with the Mona Vale Road upgrades currently underway.
A five bedroom house in Ingleside is currently on the market with a price guide of $2.35 million.
The two storey brick veneer house is located at <a href="https://www.realestate.com.au/property-house-nsw-ingleside-131398374" target="_blank">240 Powderworks Road</a> (pictured below).
Nestled over 3,072sqm, the house comprises five bedrooms, three bathrooms, country style kitchen, and double lock up garage. 
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The report suggests there are many commonalities between Avalon and Byron Bay. 
The suburb has a unique vibe and has become really popular for young families, particularly from the eastern suburbs and lower suburbs of the Northern Beaches. 
Families are seeing value without compromising on lifestyle. 
The suburb had one of the highest auction clearance rates and we anticipate the suburb to continue to perform in 2020.
An Avalon Beach beach house was sold for $1.8 million in December, 2019.
The four bedroom, two bathroom holiday house is located at <a href="https://www.realestate.com.au/sold/property-house-nsw-avalon+beach-132589574" target="_blank">81 Riverview Road</a> (pictured below).
The weatherboard cottage features open plan with polished timber floors, expansive balcony and open fireplace. 
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The final land releases in Warriewood Valley, located off Warriewood Road, are currently on the market. 
The land sizes range mostly between 325 and 450 square metres and are around $3000 to $3500 per square metre.
 2020 is likely to be the last year where a large scale land subdivision occurs for quite some time.
Lastly, a key infrastructure milestone was completed in December 2019 with the excavation of the 1.3 kilometre long Warringah Road underpass finished. 
"The underpass will eventually provide more capacity for the thousands of daily motorists, ease current heavy traffic congestion and help reduce travel times. 
"We also expect to see a continuation of investment at both a private and public level around the $1 billion Northern Beaches Hospital." 
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Northern Beaches market expected to stabilise in 2020: HTW residential 

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EXPERT OBSERVER
Six months ago it was hard to find any suburbs across the Greater Sydney Area with rising buyer demand, but now there are many. It’s been a sharp turnaround – but an uneven one.
Overall, this is the strongest Sydney market I’ve recorded in the five years that I’ve been conducting quarterly surveys of sales activity and price trends. 
Our Winter 2019 survey pinpointed the bottom of the Sydney trough and our latest survey, now under way, provides strong evidence of the market revival, showing just how much has changed since the middle of last year. 
Locations with rising markets, as measured by sales activity, can be found in 22 municipalities across the Sydney metro area, but the revival is not evenly distributed. The greatest uplift is being felt at the upper end of the market and many suburbs have not yet experienced significant improvement.
The number of suburbs classified as declining markets has dropped a lot but there are still 12 suburbs with deteriorating demand – and another 12 that have that characteristic as well as high vacancies and weak prices, which we therefore classify as danger markets.
There danger markets are all locations where apartments predominate. Seven of them are in the Parramatta LGA, where high levels of new apartments have been built in recent years and vacancies remain in the 5% to 8% range in several cases.
The leading market in the Greater Sydney Area is the Northern Beaches LGA. It has nine suburbs with rising sales activity, plus six others with steady buyer demand. 
Quarterly sales in Newport have been 28-36-53-64, while Freshwater and Frenchs Forest are stand-outs for maintaining highly consistently sales levels throughout the post-boom correction phase and now in the recovery.
The Inner West LGA is also performing well, with six growth suburbs and nine others with consistent buyer demand. Quarterly sales in Annandale have been 17-32-36-45-64, while Leichardt has been 59-68-77-105, patterns that will likely drive prices higher.
The Sydney City LGA has growth suburbs, but also shows the importance of not generalizing when discussing real estate in a major city. The central city LGA has five suburbs with growing sales activity, 11 with steady markets, three where demand continues to decline and one suburb which we classify as a danger market. All that diversity exists in one municipality. 
Blacktown is the strongest of the outer-ring markets, with five growth suburbs and 11 with steady sales activity. Schofields continues to stand out with rising sales activity – quarterly sales over the past two years have been 64-82-99-105-120-150-196-162.
Other LGAs with three or four growth suburbs include the Hills Shire, Ku-ring-gai, North Sydney and Sutherland municipalities.
This new survey also shows the recovery in the Canterbury-Bankstown area. Six months ago, 12 suburbs in this LGA were rated as declining markets, with sales levels dropping markedly. But now most of these suburbs have been re-classified as plateau markets, as sales levels start to improve. And four suburbs of the Canterbury-Bankstown LGA have shown sufficient revival to be classified as rising markets.
Across Greater Sydney, prices are reacting to the uplift in demand that is generally occurring in many locations, but most suburbs still have median prices below the levels of 12 months ago. This applies to 92% of suburbs for houses and 85% of suburbs for apartments.
But many suburbs have shown increases in the latest quarter. Examples include Mona Vale (median house price down 8% annually but up 2.3% in the latest quarter); Collaroy (down 15% in annual terms but up 9.5% quarter-to-quarter); Bronte (down 9% year-on-year but up 2.6% in the latest quarter); and Killara (down 15% annually but up 3% quarter-to-quarter). 
This is a pattern I expect to see becoming increasingly prevalent as the uplift being led by the more expensive areas spreads more widely across the metro area.
Terry Ryder is the founder of hotspotting.com.au <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">ryder@hotspotting.com.au </a>twitter.com/hotspotting
PICTURE SOURCE: <a class="external text" href="https://www.flickr.com/photos/34120957@N04" target="_blank" rel="nofollow">Alex Proimos</a>
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The housing market on Sydney's Northern Beaches is heavily owner-occupier driven given its entry costs and lower than average yields.
They sits at 2.9% for houses according to SQM Research.
The desired yield ultimately comes down to investment strategy, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at yields across the country and dissected where to find the best returns in residential markets. 
The report notes higher yielding properties typically offer lower capital growth prospects.
"If you are not predicting market conditions to improve over the short to medium term, it may be a good opportunity to capitalise on a high yielding property, generate cash flow and achieve a higher annual rate of return over the short to medium term," the valuation firm said. 
"A severe lack of short-term accommodation options has resulted in Airbnb becoming a popular and lucrative investment model on the Northern Beaches, particularly when you consider how popular a destination the area is for weekend getaways, weddings and events." 
According to the HTW report, a popular investment product due to its entry level price point, prime location and strong rental marketability is<a href="https://www.realestate.com.au/sold/property-apartment-nsw-manly-130920610" target="_blank"> </a>22 Central Avenue, Manly (pictured below).
The complex offers a mixture of studio and one bedroom apartments and gives a great indication of just how much short-term leasing can boost your yield to maximise cash generation. 
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-manly-130920610" target="_blank">809/22 Central Avenue</a>, Manly sold in August 2019 for $870,000 (pictured below).
The property would lease on an annual basis for $600 per week, equating to a gross yield of 3.58%.
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A near identical unit is currently on Airbnb for $150 per night.
This annualises to a potential fully let gross yield of 6.2%.
"Obviously not entirely realistic, but if we were to annualise the current bookings in the fourth quarter of 2019, the gross yield equates to 4.75%," the valuation firm said.
"Factoring in subsequent bookings through this period, a 5% gross yield is not out of the question and a tidy increase on the traditionally leased 3.58% yield."
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Owner-occupier driven Northern Beaches market sees 2.9% yields for houses: HTW residential 

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There would be no great surprise to most that the sub-$500,000 market is still thin in the Northern Beaches, according to a recent Herron Todd White (HTW) residential report. 
The report notes there is currently a greater amount of stock, a wider variety and located in a number of additional suburbs than there has been for several years.
A Narrabeen sale in June for $450,000 with a 4.7% yield, a Balgowlah sale in April for $425,000 with a 4.8% yield, an Avalon sale in May for $450,000 with a 4.4% yield and a Dee Why sale in May for $450,000 with a five% yield, are all areas in which older style one-bedroom units have sold in 2019.
The report notes that the only suburb where a two-bedroom unit is available in this price range is Dee Why, with a unit at<a href="https://www.realestate.com.au/sold/property-apartment-nsw-dee+why-130777654" target="_blank"> 2/7 Ilikai Place</a> (pictured above) scraping in at $500,000 even, enjoying a 4.7% yield.
"The product types and price bracket obviously appeal primarily to first home buyers and investors.
"Interestingly, four of the five examples have been subsequently listed for rent immediately after the sale, which is a good indication of the target market," the valuation firm said. 
Yields between 4-5% are fairly consistent across the board, with rents ranging between $380 and $465 per week for the above mentioned properties.
"By looking at buying the ugly duckling in a desired location, there is opportunity to create value and it is much easier to renovate than relocate your unit.
"Whilst there should be no expectation of any significant capital growth over the next 12-month period, there are some early market indicators that the worst may be behind us," the valuation firm said.
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The cheapest house sale of 2019 currently goes to 2 Ellis Road, Beacon Hill (pictured above), the HTW report noted
The sale represents the absolute bottom end of the market, selling at auction for $850,000 in February, well below the Beacon Hill median house price of $1,421,000, according to CoreLogic.
"As you can imagine, the price discount comes at a cost to the location and the quality of the existing improvements," the valuation firm commented. 
The property comprises the original circa 1960s timber weatherboard dwelling, situated on 538 square metres of land and adversely located on the corner of a busy intersection to Warringah Road.
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