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

Property News

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John Clinton, the drummer from the country band, The Wolverines and wife, Kim have sold their secluded, organic-style, custom-built Dural home.
The <a href="https://www.realestateview.com.au/Real-Estate/65-quarry-road-dural/Property-Details-sold-residential-8883988" target="_blank">Quarry Road house</a> was initially marketed last year with $2.75 million price hopes, then relisted more recently at $2.49 million.
David Baggs at ECA Space Design designed the house which won praise from the Housing Industry Association.
The early 1990s environmentally friendly home sits on almost three hectares.
The curved two-storey, three bedroom house also comes with a self contained two-bedroom studio which was a disused train carriage.
There are rooftop gardens and wraparound 20m wet edge pool.
Sandy Ward of Ray White Dural sold the listing that recently made the list of top ten NSW’s most popular and incredible homes on news.com.au.
The Wolverines are best known for the song 65 Roses about cystic fibrosis, and the Ballad of Young Bobby Dale.
Once described as a Harley riding, music playing trio, the Wolverines recorded their first album in Nashville in 1996.
Clinton, a former Sydney nightclub owner who seeks to now expand his Holy Cow yacht charterer business, installed a striking musical mural in the main bathroom by the painter Ken Roberts.
The house apparently sold to musicians.
This article first appeared in the Saturday Daily Telegraph
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jchancellor-FAypfDUnLy

Organic-style custom Dural home sells

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A three level home in Shorncliffe has been listed for sale with $1.49 million hopes through John Decker at John Decker Real Estate in Sandgate.
Eagle View, <a href="https://www.realestate.com.au/property-house-qld-shorncliffe-119818643" target="_blank">82 Park Parade</a>, is a towering Queenslander which overlooks Moreton Bay.
The property was one of many 1900s former hotels of these once in-vogue English-style seaside suburb.
It was divided into flats before reunification as a four-bedroom home, 25 years ago.
It also has three bathrooms, four car spaces and an attic, an open, multi-purpose area.
The median price for a home in <a href="/news">Shorncliffe is $710,000</a>, according to CoreLogic RP Data.
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Shorncliffe's Eagle View listed with $1.49 million hopes

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Beacon Lighting's chief executive, Glen Robinson has his three-level Richmond townhouse listed through Marshall White agent Stuart Evans.
The October 17 auction is tipped to yield $1.5 million-plus for the three bedroom, two bathroom townhouse.
<a href="https://www.realestateview.com.au/Real-Estate/6-allans-place-richmond/Property-Details-buy-residential-9567982" target="_blank">The 6 Allans Place offering</a> has a mix of polished concrete floors and Australian pale wood flooring. 
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Beacon Lighting chief's Richmond townhouse offering

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GEUST OBSERVER
The hot weather over the October long weekend brings a reminder that Australia’s “disaster season” is fast approaching.
The summer brings bushfires, cyclones and floods to the forefront of our minds – never more so than in an El Niño year with temperatures predicted to soar.
The increase in the frequency and the impacts of natural disasters over recent years has been well documented and is at least partly attributable to changes in our climate.
Climate change is not going away, so it is highly likely that this rising tide of natural disasters will continue.
<h2>Communicating risk</h2>
This increasing prevalence presents a challenge for risk communication. How should the public be informed about the potential risk of disasters?
A common response is to assume that more information is better, and that providing summaries of risk levels will lead people to reduce their exposure to relevant risks.
Data from field studies on non-climate-related disasters, however, point to the opposite effect.
Media-released information summaries concerning catastrophic events can have the paradoxical effect of decreasing people’s overall estimates of risk.
For example, following the Loma Prieta earthquake in northern California, an analysis of house sales suggested that new buyers reduced their assessment of risk as information concerning the location and rate of earthquakes was publicised.
A similar pattern was found following the Tohoku tsunami of 2011, with unaffected residents exhibiting lowered risk perception about the heights of waves warranting evacuation.
<h2>Testing risky choices in the lab</h2>
In a paper published in Nature Climate Change today, my colleagues and I attempt to shed light on this paradoxical effect of summaries of risk.
We created a microworld with three villages, each associated with different levels of disaster risk.
On each trial of the 400-trial experiment, people (mostly university students) had to choose where to live. They earned points on each trial, but lost lots of points when a disaster struck.
One village was safe – a disaster never occurred – but people didn’t get many points for choosing to live there. A second village offered more points if no disaster occurred but rare catastrophes occurred (10 in 100 rounds), which affected a small proportion of the dwellings in the village.
A third village had even rarer catastrophes (one in 100) but the damage was more widespread, thus making the overall risk of a disaster equal to the second village.
These risks were all known to participants before they made their choices. What differed was how participants learned about a disaster occurring.
One group only found out if their own dwelling was hit, a second group found out if any of the dwellings in their village was hit, and a third group found out if any dwellings in either risky village were affected.
These three groups were designed to mimic information people could get in real life from personal experience, local sources, or from afar via media or authorities.
The key result was that the third group - people given the most information about recently experienced or avoided disasters – took more risks and were more likely to choose regions prone to disasters.
Getting full information about all the villages, as is possible in real life through media and authorities, appeared to reinforce for people that “most of the time nothing bad happens in the risky areas”.
The increased tolerance for risk is akin to a person who is willing to trade daily access to the ocean with the rare risk of flooding from an abnormally high tide.
<h2>Implications for risk communication</h2>
Our results suggest that supplementing personal experience with information about the rare occurrence of disasters (storms, floods) in different regions may paradoxically reduce people’s perception of risk and increase the appeal of disaster-prone regions.
This result implies that disaster risk communication needs to emphasise the increasing prevalence of disasters.
Statements often seen in the media such as a “one-in-50 or one-in-100-year” event could lead people to assume, incorrectly, that there won’t be another event for 49 or 99 years. This perception is compounded by their typical daily experience of nothing bad happening.
Risk messages need instead to focus on the accumulation of events and the increase in their associated risks across time. For example, people should be reminded how many major floods or severe fire days occurred between specific points in time – such as “four events between 1900 and 1949”, or “ten events between 1950 and 2000”.
Of course, this conclusion is based on the specific conditions in our modelled microworld, so we need to be cautious in generalising too far. Nonetheless, the research points towards ways to understand the sometimes paradoxical reaction to disaster risk.
Ben Newell is professor of cognitive psychology, UNSW Australia and an author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/ben-newell-46" target="_blank">here</a>.
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mick.cee-iDmgDDAmu8

Disaster reporting may encourage people to live in riskier places

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GUEST OBSERVER
Before You Bid allows you to search for a property and buy your independent building and pest, strata report and contract review without picking up your phone.
The website was created after the personal experience of spending thousands of dollars without getting close to buying a property.
I was concerned not just with the cost of these reports, but also the quality. People don’t want to allow others to buy their reports because there is nothing in it for them. That is why we set-up a cash back model so that everyone pays the best possible price.
We have also set up an Uber-style rating system so our customers can give direct feedback on their reports and we can feed that through our service providers to continually improve the quality.
Service providers can apply to Before You Bid to be on their panel and have their qualifications and insurances checked. In one instance there was an inspector who had a builder’s license number on their website and it was fake. We take those worries out of the consumers’ hands. 
And how do they address the independence issue?
We found in the ACT that the agents have a tendency to pick report inspectors who write favourable reports. We have contacted a number of inspectors who admitted that their agent-instructed reports were not as thorough as their buyer ones. We don’t think they are worth the paper they are written on and that buyers deserve better. That is why we don’t allow agents or vendors to have any influence over our panel of report writers and don’t accept any money from them for advertising. We are exclusively buy-side focused.
With our share cost model interested parties can pay as little as $149 for an independent building and pest inspection and $79 for an independent strata report or contract review. We consider this an innovative solution to a market failure.
Rhys Rogers is co-founder and chief executive officer of Before You Bid and can be contacted <a href="https://www.beforeyoubid.com.au" target="_blank">here</a>.
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Uber-style report rating system for building, pest and strata reports

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The Wollongong region in New South Wales had a preliminary clearance rate for the week ending 4 October with a 58.3% clearance rate for a total of 38 auctions, according to CoreLogic RP Data.
Queensland's Sunshine Coast had a preliminary clearance rate of 54.6% from a total of 43 auctions and the Victorian suburb of Geelong only five total auctions.
<a href="/images/2015/10/07/Screen%20Shot%202015-10-07%20at%2010.12.30%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/07/Screen%20Shot%202015-10-07%20at%2010.12.30%20AM.png" alt="">
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Wollongong clears 58.3% clearance rate: CoreLogic RP Data

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Joint venture partners, Frasers Property Australia and Sekisui House Australia, have received approval to develop a pair of buildings located on the corner of Broadway and Abercrombie Streets at its award-winning Central Park development in Chippendale.
To be known as DUO, it is a $520 million, two tower, mixed-use project.
Designed by one the world’s most awarded architecture practices, Foster + Partners, DUO will be Foster + Partners’ second residential building in Australia.
The residential component of DUO will include a total of 313 residential apartments, offering a mix of one-bedroom suites, one bedroom + study apartments, two-bedroom apartments and three-bedroom dual-key apartments, the majority of which will be located in the eastern tower of DUO.
The limited range of 48 residential apartments located on levels 11-16 of the western tower will be DUO’s premium offering – DUO Limited Edition.
DUO will also include a 300-room hotel, ground floor retail, 5,500 square metres of commercial space, a large childcare centre to accommodate up to 90 children and the refurbished Australian Hotel.
$520 million is the estimated end value of DUO, comprising $350 million in residential apartments, $120 million 300-room hotel and $50 million in retail, commercial and child care uses.
Central Park's project director, Mick Caddey, said the $520 million project brings the completion of the Central Park development into the near horizon.
DUO is set to be launched to the market in late November with registrations of interest currently being taken.
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DUO approval for Central Park 

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A stone and red brick 1926 Adelaide bungalow has been listed with $1.1 million hopes through Peter Briscoe and Penny Riggs at Klemich Real Estate.
The <a href="https://www.realestateview.com.au/Real-Estate/20-alexandra-avenue-rose-park/Property-Details-buy-residential-9567594" target="_blank">20 Alexandra Avenue</a> at Rose Park is on the market for the first time in 36 years.
The property sits on a 919 sqm area.
It has period features that includes decorative ceilings and leadlight windows, and a stone archway entrance.
The house has five bedrooms, two bathrooms and two car spaces.
The auction is set for October 16.
The median price for a home in <a href="/news">Rose Park is $1,160,000</a>, according to CoreLogic RP Data.
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$1.1 million hopes for 1920s Adelaide bungalow

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Caydon Property Group has welcomed the City of Banyule’s decision to agree to a Victorian Civil and Administrative Tribunal (VCAT) consent order on its Ivanhoe development site.
It will enable a $150 million, 14-storey residential, office and retail development at 443 Upper Heidelberg Road, Ivanhoe to proceed.
Banyule councillors this week supported the council officer’s recommendation to agree to the consent order for development at the 3360 square metre Burgundy Hill site, one of Melbourne’s highest points.
It followed collaboration between Caydon, council officers, residents and the community at a compulsory conference at VCAT in August which led to Caydon resolving key height, built form and mass, and vehicle access concerns through an amended proposal.
Caydon principal Joe Russo said the conference provided constructive feedback that "helped us land on a design that is a better fit with the surrounding area in terms of the height, appearance and amenity of the proposed building.” 
The approved plans will see the construction of 211 one, two and three bedroom apartments, as well as 48 serviced apartments and 1590 square metres of office and retail space. These will be serviced by 296 car parks and storage for up to 156 bicycles.
The Burgundy Hill site is earmarked as a strategic redevelopment site in the Heidelberg Precinct Structure Plan.
<img src="/images/2015/10/07/700_caydon2.jpg" alt="">
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Caydon set to proceed with Burgundy Hill, Ivanhoe project

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GUEST OBSERVER
Today’s decision to leave the cash rate unchanged came as no surprise to either economists or market participants. As such, the focus was on the Governor’s accompanying Statement which turned out to be basically a carbon copy of last month’s wtatement.
With concerns around the outlook in China weighing on global markets we thought that the Statement might contain something new on China, but the Governor simply repeated last month’s comment that there has been, “some further softening in conditions in China and east Asia of late”.
The Governor’s comments on the Australian labour market are unchanged which means that their forecasts for a flat unemployment rate over the next year remain intact.
There were only two material changes from last month’s statement. The Governor notes that dwelling prices “continue to rise strongly in Sydney and Melbourne” (last month only Sydney was cited). And Steven’s stated that “the available information suggest that moderate expansion in the economy continues” (last month he stated that “most of the available information.....”)
The Governor again refrained from making any comments around the AUD needing to move lower. In our view, the AUD is currently trading in the RBA’s ‘comfort zone’. It’s has fallen enough to help the Australian economy rebalance without posing a risk to the near term inflation outlook. We see the AUD falling further over the next few months.
The outlook
Markets are assigning a 50% probability that the RBA eases policy again in 2015 (a 29% chance of a November rate cut is priced). In our view, the case to leave rates unchanged is stronger than the case for a near term rate cut so we have the RBA on hold at 2.0%. The forward looking indicators of the labour market are consistent with a flat unemployment while the lower AUD is helping the economy to rebalance. The RBA would need to downgrade their growth forecasts in the November Statement on Monetary Policy to justify a rate cut and in our view that looks unlikely.
The focus for RBA enthusiasts turns to a run of speeches by RBA officials (Assistant Gov. Debelle [7 Oct.], Head of Economic Research Simon [8 October] and Deputy Gov. Lowe [13 Oct]. On the data front, QIII inflation data towards the end of the month and the jobs report next week are the most important pieces of economic information ahead of the November meeting. A decent employment report next week would probably see market pricing for a November rate cut recede. But a poor print and a low CPI outcome would mean that the November meeting would be seen as ‘live’. 
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Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here</a>.
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