Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Peter Chittenden

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Apartment living is popular and apartments are also sought after investments and today the location, price range and style of apartment you can buy is varied.
So I found myself asking, given all of the options available, what makes a good apartment?
So I spent a little time having a look at a number of chatroom and information sites where other people were asking just this question. I found potential buyers, investors, people looking to rent and parents looking to buy for their kids, asking this question, sharing their views, experiences and their concerns. What I found was a pattern of comments and advice that soon came down to about fourteen points.
Many of the points were common and we would recognise them here in Sydney, or indeed in any city. Some concerns like noise and parking and access to a local supermarket came up quite a few times.
I thought that I would share with you the results of my personal research, because I think it’s a good idea to keep reminding ourselves about what buyers, tenants and investors are looking for when they come into the market, no matter how robust conditions might currently be. Here are some of the key points I discovered.
Upfront, having apartments that were soundproof was a clear concern, and it’s not an uncommon point of discussion when taking a project to market. Clearly people want peace and quite when they are at home. Then came a comment about water pressure, it’s one that does not come up that frequently, but again it’s an important day to day issue. I do know of comments however in buildings with central hot water systems that it’s sometimes necessary to run taps for a few minutes to get hot water to the shower or kitchen sink – something to think about.
However in third place I found repeated comments about noise, street noise, traffic noise and pool noise, there’s been some discussion about noise pollution and as urban areas become far more concentrated clearly it’s a point of concern. Personal safety was also a high-priority issue, secure buildings and neighbourhoods are seen as a plus.
Now the next one did surprise me. Many people buying into an established building were trying to establish if there were short-term leases on offer. This was seen as a big negative and a possible indication of poor management. Most people believed that these buildings should be avoided. This a recent concern in Sydney and an issue that needs a lasting solution. Residential apartment buildings are clearly not hotels in the minds of the community.
Then I came to a very familiar topic and one that got lots of attention, parking. The topic was a concern not only about secure parking in particular buildings, but also easy access to visitor parking and easy on-street parking for deliveries or service calls. Day time parking was an issue in areas with clearways and the restrictions they impose on both residents and visitors. All of which is very familiar.
Ample storage was another pointer, storage that was clean, easy to access and not damp! Then I saw many comments about looking for buildings that allow pets, so that’s an area we seem to have right in Sydney, where most buildings welcome pets and it’s seen as a sensible policy.
The appearance and up-keep of an apartment building was covered in many comments, however the main concern was the ventilation of common areas, in particular the hallways leading to apartments. Buyers were unimpressed with cooking smells, stale air and artificial light. Clearly all common areas need to be fresh, with some natural light and good ventilation top of the list.
Talking about design, buildings and apartments that were well designed to cope with high summer temperatures, or cold winters were seen as a plus, environmental planning for shifting weather patterns is clearly on the minds of apartment dwellers. Nobody wants to come home to an apartment that feels like an oven in summer or a fridge in winter. Natural shading and cross ventilation is seen as a good option here by many chat participants.
Then I came to three common pointers regarding location. These were, look for apartments within walking distance of a supermarket, so there’s not always a need to drive. Be close to public transport or easy road and motorway access and the third golden rule of location for apartment dwellers was access to varied areas of open space, parks and wilderness.
But when looking to buy into or rent an apartment it was this last point that I thought was the most telling. That was to look for buildings that have clean and well ordered garbage rooms, because this means good management and above all thoughtful residents.
I found my chatroom visit very reassuring and helpful and worth sharing.
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pchittenden-eLqUUC8TWW

What makes a good apartment

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As we struggle with a housing market where supply is limited and affordability is under pressure with first time buyers facing an up-hill battle, should we being looking to prefabricated buildings as a bigger part of the solution?
Would the use of prefabricated buildings also speed up the approvals process, deliver projects quicker and save money for the entire industry and community?
We already know that many other industries have had to rationalise the design and manufacture of their products, so why not the housing market?
Certainly according to PrefabAUS the peak body for Australia’s off-site construction industry, the answer is yes and there are many examples of stunning prefab homes being designed across the world. In the USA, prefab has moved into the highrise market.
On their <a href="https://www.prefabaus.org.au/" target="_blank">website</a>, PrefabAUS outlines the organisations mission statement as: “Our mission is representing, showcasing and advancing the industry through collaboration, innovation and education”.
They then go on to suggest that the time for off-site construction has arrived, with ongoing work to grow local knowledge and capability.
The name prefab is short for prefabrication, it’s a snappy and clever way to bring the idea into the modern age of development and I think works well to reposition this section of the market.
However, because there is no up to date or accurate research available, we are unable to judge the extent to which prefab contributes to the housing market. Still PrefabAUS has a wide range of members including manufacturers, architects, suppliers, and engineers with (as might be expected) architects making up the biggest number of members.
This Is Not A New Idea
As PrefabAUS detail on their website the idea dates back to AD43 when the Romans used the technology. In Australia, Corio Villa Geelong was a home prefabricated in Scotland and erected in Geelong in 1855-6, while in 2010 the now familiar name Sekisui Homes, Japan’s largest prefab builder, arrived in Australia.
Lend Lease have completed building the <a href="/expert-insights/buying/docklands-tower-fort-now-the-tallest-timber-residential-building-in-the-world-as-it-tops-out-at-10-storeys">world’s tallest timber building</a> in Melbourne with the use of prefab CLT (cross-laminated timber) panels. For Lend Lease, the success of the project helped the company win the contract to construct the nearby $20 million Docklands Library and Community Centre. Both buildings use CLT panels made of European Spruce. Each panel is 16 metres by 3 metres and they are easy to ship and assemble on-site.
While the Lend Lease Forte Building was the first to use CLT in Australia, the technology is used in many European centres.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
The Modern Prefab
While the Lend Lease example is a good one, we need to ask if the modern prefab can deliver what buyers want, there has been a lot of work done in this area, in particular overseas with micro-housing and sustainable housing. And there are some great homes made, as on-off container homes.
There is a long history associated with prefabricated design but most current work in this area is helping to deliver what might be market acceptable options. For many decades architects have been designing factory prefab houses that aim to combine the lower costs of mass production but still delivering the buyer a good design and quality construction.
Given concerns over supply and affordability it might now be the time to re-visit the dreams that some planners and architects have of using prefab homes on a mass scale. Because if we avoid complicated construction and find the right balance between quality and price, and the planners embrace the idea, then prefab should have a more mainstream future.
World’s Tallest Modular Building Hits a Hurdle – But The Future is Still one of Promise
However new building methods do not always run smoothly. At the Atlantic Yards, Brooklyn New York, the world’s tallest prefabricated modular tower has run into some problems and according to the New York Times, the modular technology is being ‘dumped’ for the next three towers.
The developers have reported trouble working out all the kinks on the factory floor to deliver a tubular steel chassis of 145 fully equipped apartments. A further three new buildings in the project will be using conventional construction.
According to published reports, after gaining code approvals there has been a learning curve on the project. According to local architects, this was only to be expected. The developers are, according to the New York Times, planning to return to modular construction for future stages.
The New York example simply highlights the fact that any new building method is complicated, you have to change the culture among planners, governments, builders, unions and architects and be an innovator like the Lend Lease example in Melbourne, we need innovation.
More time, more planning and innovation might well be required to see if there is the potential for prefab options to have a transformative effect on the housing market, with the promise of quality, improved affordability and a workable option for developers.
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Are prefabricated houses the answer to our affordability problem?

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Currently Australia has a population of some 23,640,000 and we are rapidly heading towards the 24 million mark.
In the most recent population update issued by the Australian Bureau of Statistics (ABS) for the March quarter 2014 there are some interesting facts and some shifting fortunes for various Australian states. Some of the changes directly reflect the shifting strengths of the associated local real estate market, but there are many other influences the population is having on demand for housing.
Our march towards a population of 24 million is being fuelled by some key facts; our birth-rate is healthy while our death-rate is much lower. According to the ABS a new birth takes place every one minute and 43 seconds, while a death occurs every three minutes and 31 seconds. So births are well ahead. There is one new international migration into Australia every two minutes and five seconds, and we have the net result adding one new person to the local population every one minute and 17 seconds.  Our population growth rate is at around 1.8% which is very high by international standards; therefore we lead the OECD ranks.
It’s little wonder that we see so many new baby wear shops in our local shopping centres, and also continued strong demand for housing.
International Migration
While our natural rate of population growth is impressive, it only accounts for 40% of overall growth, with 60% coming from international migration to Australia. The impact is also apparent in NSW and Victoria, the two states currently leading in population gains.
The March Quarter ABS figures show that in NSW the population increased by 114,500 with 67% of that coming from net overseas migration. In Victoria the population grew by 108,800 with migration making a 57% contribution and we know that these two states also have the most demand for housing and the most robust prices. Clearly the arrival of one new international migrant almost every two minutes is having a major impact on growth and creates more immediate demand for housing than the numbers of new born babies.
Interstate Migration Shows Major Shifts
While WA still leads in the rate of growth at 2.5%, that is well down from the rate of 3.5% just 12 months ago, as momentum is shifting towards the big states like NSW and with its current population at 7,500,600 it’s easy to see how important that state and Victoria and their local economies are as we move out of the mining boom. The ABS figures go further and show how population trends have changed over the last five years.
In 2009 some 12,300 residents left NSW to move to Queensland, in 2014 that figure had fallen to 4,800.  That’s a very big shift. More people are arriving and staying in NSW where housing supply is at its most critical. At the same time growth has slowed in Queensland and WA. In fact NSW has recorded its lowest interstate migration of population in 30 years and Victoria has had its highest gains on interstate migration to that state on record. Queensland has seen its lowest rate of gain, dropping 65% in five years.
We are seeing some changes that are reversing decade-long trends and the different population pressures in each state are reflected in local demand for housing. New migrants and expanded families need homes and both are having a major impact on our local real estate markets and possibly compounding the problems of undersupply.
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Population growth compounding our undersupply problems

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With plans for a three-level penthouse to top off the proposed Crown Sydney hotel and casino at Barangaroo, Sydney might soon join New York, London and Hong Kong in the $100 million penthouse club.
The proposed Crown penthouse would occupy the top three levels of the 69 storey complex, possibly appealing to local or international billionaires keen to capture what could be Sydney’s ultimate address.
But while this penthouse comes with an impressive price tag, it’s not that much of a rarity and surprisingly global buyers are well catered for in this heady price bracket. 
A penthouse in the very ritzy London suburb of Knightsbridge <a href="https://www.theguardian.com/uk/2011/apr/16/knightsbridge-flat-sold-for-136m" target="_blank">sold recently for about AU$255 million</a> – in London’s red-hot property market the unfurnished penthouse of 1,500 square metres has views towards Hyde Park and Harrods department store.
Meanwhile, <a href="https://www.bloomberg.com/news/2014-06-02/nyc-woolworth-tower-condo-priced-at-record-110-million" target="_blank">in New York there’s a US$100 million penthouse</a> in a re-vamp of the top levels of the famous Woolworth Building. The seven-level home has captured the imagination of New Yorkers occupying the landmark tower’s top floors with three bedrooms, a double-height great room, a private elevator, and a library in the observation deck. To be marketed as “The Pinnacle”, the asking price equates to what looks like a modest US$11,700 per square foot.
The penthouse is one of 34 apartments in the Woolworth Building’s re-vamp with a total anticipated gross of US$444 million. Apart from the US$110 million penthouse, there are three other apartments with US$20 – $28 million plus price tags. One other at US$15 million and five apartments at what looks like a modest US$5 million.
“The Pinnacle” will span 9,400 square feet with just under 500 square feet of outdoor space and the US$110 million price will be a record for Downtown New York and one of the priciest listings ever to hit the city.
If you are feeling a little left out of the $100 million club, then it’s comforting to know that prices will start at just US$3.9 million for a 1,290-square-foot toe hold on the 44th floor of this iconic building. Speculating about Crown’s possible plans for the more modest apartments in it’s Barangaroo building, Sydney might well eclipse these prices – and so admit mere mortals.
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Sydney may be about to join the $100 million penthouse club

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A strong resurgence in the residential property market has significantly lifted transfer duties; including residential stamp duty in 2013-14 and signs are the trend will continue.
However for what has been described by some commentators, as a ‘windfall’ may in reality be a clear sign that long overdue stamp duty reforms should be addressed now while the market is so positive.
Higher prices and continued strong demand are putting a lid on affordability, along with low interest rates and while very competitive interest rates are welcome, it’s time to look at a longer term solution to the government’s heavy reliance on stamp duty revenue. The state government’s first time buyer concessions are also only available on new homes and so this tends to fuel demand in some, mainly outer, areas but the concessions also limit the choices of first time buyers.
However the much wider consideration is that government revenue may be far too reliant on stamp duty revenue from a robust property market. We should question if this is placing a greater or uneven burden on home buyers for a revenue benefit for the government that may be short lived. At the same time government is naturally welcoming the revenue, but this is a volatile source of cash.
And while state-based tax reforms looks a long way off, I think that it is reasonable to suggest that while the market is so strong that this is the ideal time to start the process of reform. Because in the longer term, lower stamp duties with more widespread affordability might well help to fuel and sustain a more robust market. This process could start with indexation.
However before looking at the case in favour of indexation, one of the most telling figures in this debate is the comparison between GST revenue and transfer duty that NSW receives. GST revenue in 2014-15 is estimated at $6.094 billion rising to $6.9 billion in 2017-18. By comparison, the total transfer duty revenue in 2014-15 is estimated at $6.095 billion (of which $4.7 billion flows from residential property stamp duty) but this is anticipated to rise to $7.256 billion in 2017-18. On top of which we should not forget that revenue from land tax will add $2.4 billion – $2.8 billion in the same time frame, plus the parking space levy is set to reach $115 million by 2017-18. Adding these figures we see that by 2017-18 property related revenue for the state will be some $10.24 billion. To me this appears to suggest a possible imbalance.
Higher Prices Should not be Driving Revenue
We currently have historically low interest rates, pent up demand, undersupply, improved consumer confidence and of course the obvious big increase in house prices. It is the rapid increase in prices YTD to 16.3% against an anticipated 7% increase that really does support the argument. It is time for the NSW government to look at reducing or at least moderating the amount of stamp duty from residential buyers via some form of indexation.
The concern being expressed is that stamp duty does play a role in the housing affordability debate. The figures speak for themselves, when you consider that the average stamp duty paid by a property buyer is now $23,805 and that only nine years ago it was $14,485, then the figures look horrible. In 2005/06 total stamp duty paid was $2.3 billion today its $4.7 billion.
The result comes about because higher property prices are pushing average home buyers into more expensive stamp duty brackets. Economists refer to this phenomenon as bracket creep. Governments tend to enjoy bracket creep because it delivers growing tax receipts without nasty policy changes or political debates.
The current stamp duty brackets have not been changed for a very long time (except for the “premium property” bracket that was introduced in 2004). When these brackets were put in place, the median house price in NSW was less than $300,000. The median house price in Sydney is now $783,000 as bracket creep catches more and more buyers. Already we know that in some 170 Sydney suburbs, that’s one in five, median prices are now $1 million plus, and this is a further signal that some adjustments are warranted.
Governments do need revenue, but stamp duty reform has been promised for many years, and the current policy is a negative for many buyers. It’s also a source of income that in many ways is frequently volatile. One solution is to start and adjust the growing bracket creep problem, and this could be done in stages. 
If some changes are made now when receipts are high then the NSW government can start indexing the benchmark to be more in-line with today’s values, as current rates are distorted and need adjustment. 
After all, in Sydney almost no homes are well below or even near $300,000, which was the median price when current rates were set.
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It’s time to index stamp duty

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Currently Brisbane ranks as Australia’s third largest city with a population of 2,143,121.
Over the next five years the city is expected to grow by 11.2%, attracting some 215,000 new residents. By comparison Sydney is expected to grow by 8.1% and Melbourne 10.4%, while Perth is looking to out perform all its rivals with a growth rate of 16.5%.
Brisbane has a close association with the Gold Coast/Tweed and in combination this adds a further 605,134 to the population base of almost 2.8 million in the south-east region. The area is also expecting to grow at a rate of 11.2% over the next five years, which adds to the economic muscle and growth potential of the region.
However regardless of the continued rivalry between our capital cities, Brisbane appears to have all of the settings in place for a period of sustained expansion and that growth is going to change the character of the local real estate market, in particular the apartment market.
To look more closely, let’s first establish a general appreciation of the market in order to gain an understanding of the appeal of new developments in Brisbane. A brief summary of the immediate past and the big picture planning for the future will help take a fuller account of how Brisbane is now being propelled into the future and why it’s an emerging and appealing apartment market.
After 1982 and 1988 There’s Been No Looking Back
The 1970s Queensland, and particularly Brisbane had a somewhat dual character much of which was influenced by the Joh Bjelke-Petersen era. To some Brisbane was seen as a quaint place, where people ate their tea at 5.30pm, post cards featured jacarandas and poinsettias lining the streets, there were charity raffles and pesky paper-boys at the main city intersections and lots of bingo halls.
The city’s underworld of the 1970s and the 1980s was as active as anywhere else in Australia, but the Whiskey Au Go Go inferno of 1973 marked a turning-point of history. Then after hosting the Commonwealth Games in 1982 and The World Expo in 1988 Brisbane never looked back, the theme of Expo 88 was “Leisure in the Age of Technology” and it does appear that today some 26 years after Expo, that slogan appears to be a great combination of ideas for a city like Brisbane to prosper under.
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Future Vision
Brisbane’s ascendancy is also being directly strengthened by events such as the Group of Twenty (G20) Leaders Summit, on the 15th and 16th of November, the summit is Brisbane’s biggest event since the 1982 Commonwealth Games and Expo 1988. The Queensland government has also announced a four pillars policy to foster economic development and employment across tourism, agriculture, resources and construction.
The state government is also putting it’s efforts into the delivery of critical infrastructure, and has commenced work to ensure local councils have the power they need to better plan for the future growth of local communities. Policy settings will also include plans to create simplified, single state planning arrangements. Already the state government will transfer responsibility for South Bank to the Brisbane City Council along with management of the Roma Street Parklands.
While the CBD continues to evolve as an apartment market, the inner north (<a href="/news">Bowen Hills</a>, <a href="/news">Fortitude Valley</a>, <a href="/news">Hamilton</a>, <a href="/news">Kelvin Grove</a>, <a href="/news">Newstead</a>, <a href="/news">New Farm</a> and <a href="/news">Teneriffe</a>) and inner south (<a href="/news">Dutton Park</a>, <a href="/news">South Brisbane</a>, <a href="/news">West End</a> and <a href="/news">Woolloongabba</a>), inner east (<a href="/news">Bulimba </a>and <a href="/news">Kangaroo Point</a>) and the inner west (<a href="/news">Milton</a> and <a href="/news">Toowong</a>) are all popular developments and very diverse suburbs with a good variety of lifestyle and product options, which are of key importance for a flourishing apartment marketplace.
Price Indicators and Beyond
In the March quarter 2014 the value of the average Australian home was $546,000, the average weighted growth between the March quarter 2013 – and the March quarter 2014 was 10.9%, Sydney’s growth was 15.7%, Melbourne’s 10.9% and Brisbane 6.1%.
While in the June quarter 2014, the average Sydney apartment price was $650,000, in Melbourne $502,000 and in Brisbane $476,000 – and while Brisbane has seen a somewhat lower growth rate, it’s been consistent for eight consecutive quarters. However, average prices are to a degree an all-purpose measure and like all other capital city markets Brisbane has measured price variations across different areas.
We also appreciate that prices are just one measure, these figures are only part of the story, because clearly buyers and developers also need to be sure that other aspects of the market like lifestyle, infrastructure (both hard and soft or cultural), affordability (growth and employment) and new stock are all aligned.
Looking at Brisbane we see a number of dynamics coming into play. The variety of product being developed is now diverse, different locations are also responding with varied product and that diversity is welcome with appeal to both owner-occupiers and investors, the vacancy rate is tightening, approvals are growing and the population is growing while new projects are showing strong sales results, and it is generally agreed that in combination all of the indicators are positive.
As we start to see the state government’s vision for tourism, agriculture, resources and construction take shape the appeal of the Brisbane market, in particular the apartment market, is positive. 
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Brisbane's growth will fundamentally change its residential market

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With some 704,000 bonds amounting to $1.043 billion in its care, the NSW Rental Bond Board’s annual report shows some interesting trends that investors I think will find interesting.
Let's look at some of the facts from the 2012-13 annual report.
The raw numbers firstly show that bonds held increased by 3.4% over the number held at 30 June 2012, new bonds increased by 2.8% but the number of refunds was far less at only 0.8%. This shows how tight the rental market was in NSW; the average bond paid was $1,483. Investors in residential property might also be interested to know that February appears to be the month when most tenancies change over after a slump in demand in January. As might be expected most tenants move out of their accommodation in December and February.
It also appears that the majority of investors use a managing agent, as real estate agents lodged 89% of bonds.
The Board’s annual report also gives a very clear picture about the relative size and growth in demand as new bonds paid are examined by postcode groupings. Across metropolitan Sydney the biggest rental markets are the Eastern Suburbs with 50,513 bonds, followed by Western Sydney (41,432) and St George (36,071). However the Board’s figures show that the three areas with the biggest increases in bonds, and hence tenancies (available supply) where: South Sydney 8.7%, Western Sydney 6.6% and Parramatta Hills 5.0%. The areas with the highest median rentals were Inner Sydney and South Sydney with growth rates of 5.4%.
An interesting observation from these figures is what appears to be an even spread of growth south, east, west and south, although in combination the west is dominate with 119,252 tenancies.
Outside of the metro area the three biggest rental markets, as measured by the number of bonds paid were: the North Coast 55,401, Greater Newcastle 35,949 and Penrith/Windsor 32,009. It was somewhat surprising to see the Central Coast in fourth spot with 29,255 tenancies. The areas with the biggest increase in supply were: Penrith/Windsor with 5.9%, Dubbo &amp; North West 5.2% and Campbelltown 5.1%.
Between 2011/12 and 2012/13 the population growth for NSW was approximately between 1.2 and 1.4%, but over the same period the Board’s figures indicate that tenancies grew at a much bigger rate of 2.7 and 3.3%. While by no means conclusive, this contrast does clearly show that many people have relied upon rental accommodation and would indicate continued demand into the immediate future.
This is a very noteworthy annual report, it points to strong demand for rental accommodation, a trend towards longer lease terms, a well-managed private rental market with quality and stable tenancies. All of which are factors that given the extent of the Board’s activities underline the appeal of residential property investments.
The Board invests tenant bonds and the income is used to fund a number of programs including Tenant’s Advice and Advocacy ($4.63 million, this is a program jointly funded by the Board and Fair Trading), Credit Counselling, No Interest Loans Schemes and Aged-care Rights Services – many of these programs are of wider community benefit, but they along with the functions of the Board itself, helps to create a stable and transparent rental market. I think this is a positive and important function for investors, as it helps create very stable administration within a large rental market of some 704,000 individual tenancies.
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Sydney rental market continues to tighten with trend towards longer leases

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As more people live in apartments there’s a greater focus on balconies.
In urban environments it’s clear that there’s demand for outdoor space, both private and public. For inner city apartment dwellers <a href="/expert-insights/buying/balconies-are-the-new-backyards">access to both is important and the market is responding</a>.
The balcony has for some time now been seen as an extra living room and is starting to become as important as the kitchen or living room. Buyers are increasingly more alert to a balcony’s aspect, whether it’s sunny or in the shade, is the balcony private, a good space to have a coffee, a wine or a meal or just sit and watch the clouds fly buy.
As apartments are getting smaller, buyers see this area as a place to relax after work, an important extension of their living space. Reflecting this trend there’s also a big increase in the variety and quality of furnishing that’s available to enhance the balcony space, it’s now very fashionable.
As more detailed attention is being paid to outdoor space in development projects, what are some of the key points to consider and are there any pitfalls?
I previously suggested the idea of thinking about balconies from three aspects – pets, plants and people. I if all three thrive then the balcony must be pretty well designed. From a down to earth view I think buyers will also consider – access, climate, privacy, views, services, storage and the environment.
Access is really important. Possibly the most popular layouts allow an apartment’s internal and external spaces to merge together to give the owner one big space. And another plus is when multiple rooms have balcony access. These designs are very different from those of the 1960s and 70s when you might have only been able to squeeze through one single door to the balcony.
Climate is another big issue. For the space to be comfortable to use all year round the design needs to pay attention to climate, so the space is not too hot, not wet or a spot where you’ll be blown off your feet in the wind. These points are common sense, but should not be overlooked otherwise valuable space for any buyer can be compromised. Covered north-facing are great, but not every apartment can have just one aspect and so this is why planning now takes the function of the balcony into account.
Views are also important. As areas have to accommodate more density, we need to consider how a view works in terms of privacy. The use of external shutters both fixed and movable designs are now commonly used and they do help to make balcony spaces much more inviting and private. I know that off the plan buyers are always keen to fully understand the views from their balcony – it’s an area that gets a lot of their attention.
As balconies are becoming more a part of daily living space then they need to have good services, drainage, electricity, gas and water and something that is less common, storage. However all these services have not always been provided. Trying to get the best use of a balcony can be limited if there’s no water or gas supply.
Today’s buyers have become very alert to having these basic service items. And while storage, in particular storage cupboards, are not common it’s a good idea and it can help to keep balcony areas tidy and presentable.
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But There Can Be Some Areas Of Conflict
Thinking of tidy balconies, with all of the pluses associated with these spaces, they can also become areas of conflict and this does place greater pressure on owners, strata managers and the body corporate.
Clothes drying, smoking, storage and the humble BBQ can be areas of conflict. Smoking on balconies remains an issue and stronger rules and restrictions are possibly on their way with the stalled review of NSW strata laws.
With higher energy costs and greater environmental awareness, to many it is reassuring that balconies can be used to hang out the washing. Yes, there are rules and limits and so privacy shutters can come in handy. However, this is another area where legislation is lagging and rules are up for clarification.
Private and Public Space in Demand
In almost every city there is demand for things outdoors, be that a balcony for a new Sydney apartment, a roof top pocket garden in London or Paris, or a few square metres of outdoor space attached to a New York apartment.
The quest for private outdoor space is always there, even in a booming real estate market. While a stunning city or harbour view might be out of reach for the average buyer, securing a private outdoor space is always ticked as a desirable option, space for a deck chair and a spot for al fresco dining is clearly a shared aspiration.
So far I have been looking at the importance of private space for the average apartment owner that’s a balcony and how the everyday use and design of this important space is evolving. But there is another aspect to this subject and that is access to public and communal space.
In areas where there is major development, we see what a positive impact new parks and open spaces have. Good examples include Brisbane’s now well established South Bank and soon in Sydney Barangaroo’s Headland Park will be a new public space covering six-hectares of harbour foreshore park. While it will be a space for the entire city it’s a good example of what we now expect from our public parks with space for all sorts of daily recreation, grassed areas, lookouts, walking and cycle paths, and a new harbour cove.
Then much further afield we have perhaps the ultimate example of a modern urban public space in Singapore’s Gardens By The Bay, supported by a huge capital investment and run with the assistance of 10,000 hours of volunteer labour. While in Philadelphia a new 5000 square metre mega roof garden is taking shape as part of a new development there.
There’s no shortage of evidence that as more of us are now apartment dwellers, private and public outdoor space is very important and the humble balcony is transforming as a public space and delivers some stunning options.
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The evolution of the balcony: A public and private space that delivers some stunning options

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It does appear that most, if not all of us, crave some time outdoors.
Each year more than 20 million people visit Sydney’s Centennial Park, 36 million visit our National Parks and Sydney’s Botanic Gardens attract almost 4 million visitors.
Much of our recreation is associated with the outdoors and this naturally includes time in our own backyards. But the traditional backyard is changing, for many it is being replaced with a balcony. And so from a design and marketing perspective the move from backyard to balcony is now a core part of the apartment market, and the same can be said for shared or common space outdoor areas.
Balconies, terraces, roof decks and verandahs are not the invention of modern living or recent architecture. There were examples in ancient Mesopotamia, in Roman villas, and many Egyptian homes and palaces had roof gardens. Shakespeare’s Romeo and Juliet first performed around 1595 made one balcony very famous, in the 17th Century the word became common in the language of Italians, while much closer to home from the 1850s the verandah started to become an essential on many Australian homesteads.
That love affair with an outdoor space, so commonly attached to our homes, clearly stays with us today.
From Quarter Acre to 10 square metres Plus
In 1962, just as the birth of the last baby boomers was in sight, the social impact of more crowded cities was starting to impact and be seen in popular culture. ‘Up on the Roof’, a song by The Drifters, lists many of the cares we are very familiar with today.
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When the world starts to wear us down and the ‘rat-race noise down in the street’, means that we all need a place to escape and relax. It’s easy to identify why in a modern setting that the balcony has become such a central part of apartment living.
Today approximately one in four Australians live in apartments and in some cities that will soon be 50% of the population, in selected inner-city locations much more.
From the visitor figures I outlined earlier it is clear that we all need outdoor space, for many this space is now a balcony and these can range from seven to 10 square metres on a one bedroom apartment to a bigger space of 30-40 square metres or more and this can include several balconies. And while there may not be an upper limit as such, there is, as would be expected some general ratio between indoor and outdoor spaces, and without access to exact figures, that appears to sit around a ratio of between 12% and 30/40%.
Anyone marketing apartments today knows that buyers also pay great attention to the balcony area when looking at an off the plan purchase or when they inspect a finished product. Clearly this space is an essential part of their list of desirable or must have features, and what buyers look for in a balcony is now much more exacting. It is an extension of their living space and for many buyers this directly impacts the quality of life they are looking for.
The Ideal Balcony
Balconies, which are also greatly influenced by Australia’s climate, can be a difficult area of planning and design because the space is both private and public. This can create some areas of conflict, but first lets look at a balcony from a simple check list of the three ‘P’ – people, pets and plants.
The balcony needs to accommodate all three functions, the varied needs of people to have a place to relax in the sun, dine outdoors etc, and with pets being common place in most buildings they need to be considered, pet owners may want a safe spot for pets to spend their days. Many people like to have potted plants, or balcony gardens be that one or two plants or a productive ‘veggie patch’. This is not a definitive list but it does go some of the way to explaining why balcony design is so important, because buyer expectations of the balcony space have shifted and our climate dictates the space must be useable all year round.
Balcony space needs to address many issues such as access, climate, privacy, environmental concerns, storage, services and circulation, in fact the space could really be seen as a facsimile of the wider design and function of the apartment interior itself. This reinforces the central importance and value of the balcony in the eyes of today’s modern apartment buyer.
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Balconies are the new backyards

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Back in February 2012, I published a post on the subject “smaller apartments to be the norm, not the exception”. 
Now almost two and a half years later we are starting to see projects that were then on the drawing board either finished or mostly sold off the plan.
As was already apparent back in 2012, today the reality is that generally apartments have in fact gotten smaller. However, via skillful design and by responding to buyer feedback, smaller now also generally means better. While size is still important, it’s not the most important factor.
Over the same time frame Sydney has also retained it’s place (which depending upon your circumstances and point of view is either a good or bad thing) among the world’s most expensive cities to buy a home. In 2012 there was the certainty that new apartment designs were set to be smaller but also hopefully more efficient with changes being driven mainly by price ceiling constraints and lifestyle demands.
What we have seen over the intervening years has been a remarkable shift in design standards and buyers have also shown little or no resistance to smaller apartments. From a marketing perspective this shift has been driven by a number of factors, mainly quality, good planning and lifestyle shifts. But there has also been the expectation that smaller did not mean inferior.
Smaller Apartments, Big on Design
Apartment buyers are a pretty smart bunch, developers know this and as marketers we also respect how much more engaged buyers have become. When buyers approach off the plan projects they do so with confidence but that is also matched by a much more discriminating buyer.
There have been a number of key facts driving this trend. Higher prices are key; this applies to all buyers as investors are no less demanding of quality. There has also been greater competition for the best locations.
I get constant feedback that in a nut-shell goes like this: Buyers are looking for well-designed, carefully planned projects, that are well located, close to local shops (and that is within walking distance), with access to good public transport. Most buyers are willing to move down in apartment size, but they expect location and services to be top rate. They also have a clear checklist of what they expect internally.
I also think that this has a lot to do with market education that comes via reality TV. There are now so many home renovation shows and I think this has been a factor in educating buyers. They are more aware of good design.
Like the food revolution that has in part grown out of the saturation of cooking TV shows, I think the same can be linked to a cultural shift that has buyers thinking about the design and function of apartments. This also extends more than ever to the reputation of the developer and builder.
First Impressions
One of the most telling ways to judge how people are reacting to smaller and smarter projects is to see how they first respond, what questions are generally top of mind and what first impression is created at a sales and display centre.
They are very keen to see how the space is used; they look beyond the finishes to how the space will function and what the developer has done to make the space work.
I have also noticed buyers are keen to see how the project sits within the neighbourhood and what sort of brand message does the exterior design of the building broadcast. They are quick to spot gimmicks, but there is an appetite for themed buildings that reflect the local environment.
It’s fairly clear that a good project team has to work hard to get the mix just right, this is now essential as apartments are not seen as a stepping stone any more, they are home to more and more of us. Between 2009 and 2012 the supply of new apartments increased by 56% and over the same period the numbers of new detached dwellings fell by 13%.
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Some Trends
Looking at one of our most recent developments, Woolooware Bay, near Cronulla, in Sydney’s Sutherland Shire, there’s a variety of one, two and three bedroom apartments which range in size across an assortment of designs which include: (internal) 59 square metres for a one bed, 78 square metres for a two bed and 114 square metres for a three bed. These apartments being developed by Bluestone help highlight how good design is being delivered.
Some of the features include; a multi-purpose or shared zone, which might have been a media-nook or study, but has now evolved to a shared space for work, study or pleasure. Apartment kitchens have also evolved, perhaps more than any other area, kitchens are now almost a ‘piece of furniture’ with varied surfaces, textured finishes, display cupboards, recessed lighting, and so just having stainless steel appliances no longer makes the grade.
Other design features include the use of windows and balcony access to create good air circulation, and balconies even, when they are small, are now more private, attractive ‘rooms’. Most of the larger three bed apartments at Woolooware Bay provide balcony access from all main rooms and all bedrooms. The use of high-set windows and privacy screens are now more common features, and there’s a deliberate aim to create separation and privacy for bedrooms.
Another area of design, and this might well help make smaller apartments even more functional, is the use of technology to create ‘smart apartments’ where the push of a button might one day do much more than switch on the lights and TV.
We aren’t fully there yet, but at almost every consumer electronic show manufacturers now display even more smart-home devices. The spread of smart-phones and tablets could soon see apartments online and residents able to switch their lights on or off, tweak the air conditioning, order in dinner, and make sure those houseplants and pets are looked after.
Buyers are skeptical when it comes to ‘gimmicks’, but this does not mean that as apartments are smaller there is not a need for well-planned building facilities. Alongside better interior design these facilities have also evolved and in addition to lap pools and well-equipped BBQ areas. We now have contemplation gardens, wine cellars, common rooms, a library and indoor and outdoor cinemas. However, when these facilities are included, buyers are still keen to see strata levies at manageable levels alongside the focus on quality management.
The end result of all of these trends is the ready comprehension among developers and buyers that smaller apartments are workable and popular, but this needs to be balanced with really assiduous design, great quality and the continued quest for well thought-out locations and buildings with sought-after facilities.
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Peter Chittenden

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