There’s a quiet patch of <a href="https://www.apartments.com.au/developments/hawthorn-vic-3122">Hawthorn</a>, between the bustle of Glenferrie Road and the curve of the Yarra, that rarely sees change, and even more rarely, new apartments. But that’s exactly where <a href="https://www.apartments.com.au/developers/pomeroy-pacific-quattro-corp">PQD</a> is planting Kooyongkoot: a deliberate, 18-residence answer to the question of what downsizers actually want.

“This is something this pocket of Hawthorn has never seen before,” says Fil Gacesa, head of sales at PQD. “<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a> will deliver just 18 large-scale apartments in the heart of Hawthorn. It is the true definition of resort-style living.”

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/59D7VxzltmM?si=1iCzRD7FRneKryfv" title="YouTube video player" width="560"></iframe>

That scale is central to the story. It’s what allows for two dedicated lift cores, short corridors, and a generous lightcourt that draws natural ventilation and sunlight into every residence. It’s also what makes room for the sort of amenity usually confined to high-density towers: a fully equipped wellness centre with infrared and traditional saunas, yoga and pilates studio, cold therapy shower, and treatment room. There’s a golf simulator, car and dog wash stations, and extensive storage too, not bolted on, but baked in from the start.

But more than the checklist, it’s the design intent that carries weight. “This project has been many years in the making,” says Mark Pomeroy, Director of PQD. “Not just in planning, but in listening, to what our buyers and the local community are looking for”.

[smartcode_project:default project_id=102717 project_image_fid=355289]

That listening shows up in the materials, oak floors, natural stone, V-ZUG appliances, and in how space is handled. Penthouses feature private rooftop terraces with pools. Terraces and garden residences embrace outdoor connection. Inside, the layouts skew large and open, geared for hosting, not just housing.

Architecturally, <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>’s approach is grounded. There’s no reaching for spectacle here. Instead, the building offers a sculptural calm, anchored by landscaping from Eckersley Garden Architecture.&nbsp;

“We wanted to create spaces that feel expansive, serene, and meaningfully connected to daily life,” said founding partner Chris Stribley elsewhere.

[smartcode_project:default project_id=102717 project_image_fid=355304]

That sentiment, calm, connection, echoes in the location itself. Kooyongkoot sits just a short stroll from Central Gardens, Fairview Park, and the Rivoli Cinema. Tram lines and schools are close, but the street is tucked, quiet, and leaf-lined.&nbsp;

“Residents of Kooyongkoot will be a short stroll from Fairview Park, Central Gardens, and the Glenferrie Road retail strip," Gacesa notes, "but you're also cocooned in this peaceful pocket behind extensive landscaping by Eckersley Garden Architecture.”

Kooyongkoot is set for completion in late 2026.

[smartcode_project_cta:default project_id=102717]

Staff Writer

The project that said no to compromise: Inside Kooyongkoot, Hawthorn

When long-time Ivanhoe locals Graeme and Catherine, decided it was time to downsize, they weren’t necessarily in a rush.&nbsp;

Like many in their stage of life, they had started thinking about apartment living, but anticipated making the shift in two to three years.

That timeline changed when they visited <a href="https://www.urban.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a>, a new boutique development by <a href="https://www.urban.com.au/developers/salter-brothers">Salter Brothers</a>. The project ticked all the boxes they were looking for: location, quality design, and long-term lifestyle benefits, which prompted them to bring their decision forward.

“It was the right place at the right time,” they said. “We knew immediately it ticked all the boxes, and we didn’t want to wait.”

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Their decision to downsize was driven by a combination of practical needs and lifestyle considerations. Their existing home, while much loved, had become increasingly difficult to maintain. It spanned multiple levels, included extensive front and back gardens, and was starting to show the wear that comes with age.&nbsp;

They were looking for a more manageable lifestyle, one with less upkeep and more freedom. A brand-new apartment with no maintenance requirements and the ability to simply “lock up and leave” gave them peace of mind and a greater sense of control over their future.

Financially, the purchase made sense as well. The available stamp duty savings, strong price-to-value offering, and timing of the settlement suited their plans, making the transition smoother and more cost-effective. The apartment's design and inclusions further supported their choice.

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The layout was both functional and flexible: three bedrooms, a butler’s pantry, a separate laundry, and a large open-plan living area. It gave them the freedom to host a family, accommodate guests, or set up a home office. The expansive balcony and elevated views added to the appeal, providing a sense of openness and connection to the outdoors.

“It just had a really good flow,” Catherine noted, something they found lacking in many other apartments they’d considered, particularly in the established market.

Candela’s boutique scale was another deciding factor. With a smaller number of residences and a top-floor penthouse position, the couple felt the development offered the privacy and space they were looking for, without feeling isolated.

“We liked that it wasn’t a huge development. It felt well-balanced, modern but still with a sense of community, not overwhelming,” they said.

[smartcode_project:default project_id=342 project_image_fid=357508]

Equally important was the ability to remain in Ivanhoe, a suburb they know well and have deep roots in. After 46 years in the area, proximity to local parks, shops, and familiar faces mattered just as much as the apartment itself.

“We didn’t want to give up the community we’ve known for decades. Candela allowed us to upgrade our lifestyle while staying in the place we call home.”

With a Walk Score of 90, the village location supports a convenient, connected lifestyle. <a href="https://www.apartments.com.au/developments/ivanhoe-vic-3079">Ivanhoe</a> Station is just a eight-minute walk away, and the neighbourhood offers access to parks, cafes, restaurants, and schools along Upper Heidelberg Road, all within easy reach.

Beyond the apartment, the couple also saw value in the broader vision for Candela, one that integrates residential living with public spaces and local amenities.&nbsp;

The development introduces 58 new apartments as well as a mix of commercial and social spaces that integrate contemporary architecture with the suburb’s existing character.&nbsp;

At ground level, residents will find a charming café and a lifestyle wellness centre, perfect for unwinding and rejuvenating. Meanwhile, the rooftop garden offers a stunning vantage point for residents to enjoy breathtaking sunsets, host gatherings, or enjoy barbecues with family and friends. It's not just a place to live; it's a vibrant community where every moment is an opportunity to connect and create lasting memories.

[smartcode_project_cta:default project_id=342]

Why Ivanhoe locals are choosing to downsize to Candela

Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

Project management and construction management firm Creative Vision filed the plans for the&nbsp;multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" />

The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" />

The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

First look: 900-home mixed-use precinct planned for Leppington

Leading Australian integrated property development group, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>, has released the signature penthouses crowning its landmark AURA by Aqualand precinct at 168 Walker Street in North Sydney, unveiling Il Magnate and La Divina as the largest and most luxurious penthouses in the suburb.

With prices anticipated to commence from $15 million, and each accompanied by a new Porsche Carrera 911 valued at over $500K, the residences mark the culmination of <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>’s decade-long journey and the beginning of its final sales chapter. 
&nbsp; 
Their release follows more than $850 million in record-breaking residential sales and the building’s completion and occupation.

[smartcode_project:default project_id=30959 project_image_fid=358868]

The Richards Stanisich-designed 284 sqm Il Magnate and 224 sqm La Divina penthouses, collectively known as The Icons of AURA, are conceived as grand luxury homes rather than apartments, with expansive proportions, elevated materiality and curated identities that reflect their status as one-off residences.&nbsp;

Il Magnate features a grande master suite, complete with substantial walk-in dressing area and ensuite, three other bedrooms, second ensuite and another bathroom, powder room, open plan kitchen, scullery, substantial dining area and generous living room divided by a feature fireplace, and a multifunction wintergarden, which is ideal for a study and adjoining office breakout space. &nbsp;

Meanwhile, the La Divina residence offers the same amenities, sans the powder room, on a slightly smaller alternate floor plan configuration.

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Each occupies half of AURA by Aqualand’s topmost 28th level, comes with four secure car spaces and pairs sweeping Sydney Harbour panoramas with large-scale living spaces, refined detailing and a level of craftsmanship and amenity rarely offered in the North Shore market.&nbsp;

Penthouse residents will also receive Etymon’s ‘Black Key’ private concierge and lifestyle management service, an invitation only offering providing the ultimate in bespoke personalisation, including a range of everyday discrete services, from dinner party management, grocery deliveries, pet feeding or plants watered, dinners, snacks and coffee deliveries, event ticket sourcing, right up to organising travel visas and international airfares. Rarely seen in Australian properties, the service provides residents the benefits of living in a world-class luxury hotel-style home, akin to The Ritz, or the Waldorf Astoria.

[smartcode_project:default project_id=30959 project_image_fid=358862]

<a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>’s Director, Kirsten Stanisich, said the studio set out to craft residences that feel profoundly considered, contemporary and deeply connected to their setting.

“From the outset, we approached these penthouses with the sensibility of a grand Parisian residence - generous in scale, elegant in proportion and designed to feel more like a handcrafted home than an apartment," Stanisich said.

“Their elevated position and sweeping harbour outlook informed every decision, creating a rare connection between urban sophistication and natural calm. We shaped each space with expressive materiality, sculptural forms and bespoke detailing that invite touch and interaction.&nbsp;

“The result is a pair of residences defined by volume, light and an inherent softness - refined, flexible and deeply personal. These penthouses are unlike anything else in North Sydney, offering a sanctuary of true luxury framed by some of the city’s most remarkable views.”

For Aqualand’s Head of Sales &amp; Marketing, Alex Adams, the collaboration with Porsche underscores the shared ethos behind the residences.

“Aqualand’s collaboration with Porsche underpins both brand’s sharing an obsession with craftsmanship, design excellence, and enduring value," Adams said.

“Our penthouses are created for those who appreciate the finer details and expect the extraordinary at every touchpoint. Including a Porsche simply extends that experience beyond the residence - it’s a continuation of the lifestyle our buyers already live.”&nbsp;

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Aqualand’s Managing Director, Jin Lin, said the penthouses represent both the pinnacle of AURA by Aqualand and an important design benchmark for the company’s future pipeline.&nbsp;

“These stunning penthouses reflect the purest expression of Aqualand’s design ambition," Lin said.

“The unparalleled design intent makes them not only the glistening crown of AURA by Aqualand, but the crown of North Sydney itself. They’re essentially a thank you gift to a burgeoning community that deserves this level of quality and architectural consideration.&nbsp;

“We’re leveraging the unrivalled standard set here as the foundation for what comes next, including our upcoming Anderson Street, Chatswood; 15 Blue Street, North Sydney and Central Barangaroo projects. Purchasers of these penthouses will essentially be living inside the blueprint of Aqualand’s future.

“These landmark residences demonstrate how far North Sydney has evolved and the strength of demand for highly curated, bespoke luxury homes. They’re more than penthouses, they’re legacy residences.&nbsp;

“With AURA by Aqualand now a thriving new precinct with residents well and truly settled, and our in-house world-class lifestyle amenity activated, Il Magnate and La Divina represent a once-in-a-lifetime opportunity to secure an extraordinary piece of North Sydney’s future.”

[smartcode_project_cta:default project_id=30959]

Joel Robinson

Aqualand launches North Sydney penthouses with free Porsche Carrera 911

<a href="https://www.apartments.com.au/developments/bokarina-qld-4575">Bokarina</a> Beach has quietly evolved into one of the Sunshine Coast’s most complete coastal lifestyle precincts, defined not just by proximity to the ocean, but by how residential living, local retail and everyday amenity are stitched together.&nbsp;

Gardner Vaughan Group’s <a href="https://www.apartments.com.au/new-apartments/bask-bokarina-38-bokarina-boulevard-bokarina-qld-4575">Bask Bokarina</a> now represents the final residential chapter in that transformation.

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Over recent years, the Bokarina Beach precinct has taken shape as a walkable, community-oriented neighbourhood, anchored by beachfront access, Lake Kawana to the west, and a growing mix of cafés, specialty retail and public open space.&nbsp;

With Zinc Bokarina already delivered next door by <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> (GVG), Bask is the last opportunity to buy a brand new apartment within the precinct, effectively rounding out a fully formed coastal village.

GVG has positioned Bask to strengthen that lifestyle framework. Ten ground-floor retail spaces are planned beneath the residences, extending Bokarina Boulevard’s existing activity and reinforcing the area’s everyday convenience, from casual dining and coffee to local services, within a short walk of the beach.

[smartcode_project:default project_id=141609 project_image_fid=333359]

The residential component comprises 135 apartments across two buildings, Mydas and Caretta, with a clear shift toward larger three- and four-bedroom layouts and penthouses. That mix reflects a maturing buyer profile in Bokarina, where demand is increasingly led by owner-occupiers and active downsizers seeking space, permanence, and connection to place rather than short-term coastal accommodation.

Design and amenity have followed the same logic. Residents will have access to a heated plunge pool, gym, private dining room with a full kitchen, landscaped communal gardens with barbecues and a firepit, and a shared herb and vegetable garden, facilities intended to support daily use rather than resort-style turnover. Pet-friendly features, including a dog wash bay, acknowledge both buyer expectations and the area’s dog-friendly beach, located around 250 metres from the site.

[smartcode_project:default project_id=141609 project_image_fid=333366]

“Bokarina has become one of the Sunshine Coast’s most desirable beachside communities, and Bask represents the very last chance to buy new in this location,” GVG Director Sam Gardner said.&nbsp;

“Our focus has been to create spacious, functional apartments that meet the needs of locals who want to downsize without compromise, as well as those seeking a full-time coastal retreat.”

Positioned between the Pacific Ocean and Lake Kawana, Bask apartments have been oriented to capture outlooks toward the water or the Glass House Mountains, reinforcing the project’s connection to its natural surroundings. With parks, beachfront paths, hospitals, retail and public transport already in place, Bask arrives at a point where the broader precinct is no longer emerging, but established.

Construction is expected to complete in Q3 this year, with apartments ready to move into this Spring.

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Bask to complete Bokarina’s Sunshine Coast lifestyle precinct as final apartments are released

Supply And Demand

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EXPERT OBSERVER
I think there were 2 pronounced developments during Q4 2019i, the first being there was a broad acceptance that an improvement in the market is here to stay in terms of price growth.
In terms of economic indicators, we’ve seen an improvement in the labour market over the past month or 2 which is a real positive compared to mid2019 when unemployment was trending higher.
The challenge is will there be enough job creation over the next few months given the headwinds around the bushfires and Coronavirus.
ANZ Research is anticipating the economy will not create enough additional jobs to drive unemployment lower and wages higher, which is expected to result in 2 more interest rate cuts towards the middle of the year.
The RBA has emphasised its belief that rate cuts are having the desired impact, but that it does take time.
The implications for the economy and property markets will continue to be felt through 2020.
In terms of property indicators, we’ve seen some tentatively positive numbers coming through in building approvals. This is important given they were at very low levels throughout 2019 for both apartments and detached houses.
Of course apartments were hit harder which reflected concerns over build quality and cladding issues which were more prominent in Sydney but still had an impact in Melbourne.
That said, it’s worth highlighting the large lead and lag times before getting product onto the market. Even if building approvals start to pick up today, there will still be a housing shortage in the short term.
What are your predictions for 2020?
Broadly it will be a good year from a housing standpoint. Anticipated rate cuts will further entrench growth in prices for existing and new dwellings across both detached housing and apartments. Prices are already above the previous peak for units and apartments in Melbourne.
We’ll continue to see a pretty solid presence of first home buyers in the market. But it gets complicated because price growth doesn’t help affordability which is already challenging. While the new home loan deposit scheme will help 10,000 first home buyers a year, it won’t affect a material change.
The demand and supply dynamic will put upward pressure on prices initially, but building approvals and construction should start to accelerate in the second half of the year. That’s the key challenge; supply can take 12-18 months to come through, and the delay could put further pressure on both housing prices and rents.
Vacancy rates are already low and if we’re not building enough for the remainder of the year it’s likely the vacancy rate will continue to fall and result in continued rent increases.
Auction results have been strong and there are greater levels of stock on the market and rising transactions.
It’s not just a short term sugar hit which people might have been expecting, and the realisation that a stronger market is here to stay is why we’re seeing more people in the market keen to purchase.
Secondly, the supply-demand imbalance continues. Over the final quarter last year we finally started to see some positive signs regarding the construction pipeline, which has been a long time coming. We’re not talking about a sharp rebound, rather some green shoots emerging by way of building approvals starting to stabilise rather than continuing to fall.
Building approvals fell more than 25% from the peak, and have now recovered just 3%. Housing finance also picked up for construction of new dwellings for both owner occupiers and investors, which is usually a good indicator of where building approvals will go. So we have reason to be more optimistic about the construction cycle than we were 3 months ago.
What are the key economic and property indicators telling us?
It’s a little mixed.
On the economic front, the recent bushfires and Coronavirus present some challenges. For people directly by the bushfires it’s catastrophic, but the impact on the broader economy is likely to be temporary.
There will be some rebuilding stimulus which the federal government has already announced that will go directly to these communities. Coronavirus will have a larger impact.
A recent ANZ Research note forecast the bushfires to take 0.2% off GDP, while Coronavirus will shave off 0.5% due to the impact on tourism and foreign students. And, unlike the bushfires, there won’t be any stimulus measures.
If you compare it to the SARS outbreak in 2002-2003 when Chinese tourist arrivals fell by more than 80%, the share of Chinese tourism is now 5-times larger.
But it’s not just about the number of visitors; they also spend the most per person, which significantly magnifies the impact.
DANIEL GRADWELL is the <a href="https://bluenotes.anz.com/authors/a-e/Daniel-Gradwell" target="_blank">Associate Director of Property at ANZ</a>
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j.ballantyne1990-6AQqhLzZaK

Property market strong but supply demand imbalance continues: ANZ's Daniel Gradwell 

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South Launceston experienced the biggest stock decrease in Tasmania over the past year according to Investar.
Investar suggests stock for sale has decreased by 66 percent, from 59 houses this time last year to its current 20 offerings. 
One three bedroom house currently on the market is an Eastbourne Street offering which is priced at $339,000.
The <a href="https://www.realestate.com.au/property-house-tas-south+launceston-122514694" target="_blank">2A Eastbourne Street</a> house came with three bedrooms and a living room with full-length sliding glass doors.
 It is within close proximity of local shops and conveniences, and a short drive from the LGH and CBD.
Another offering is a two bedroom house at<a href="https://www.realestate.com.au/property/263-wellington-st-south-launceston-tas-7249" target="_blank"> 263 Wellington St</a>, priced at $260,000 to $280,000 (pictured below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/20/launceston.jpg" alt="">
This cottage came with double car garage. 
LGH, Dr Surgeries, Charles St restaurant strip and the CBD are within short walking distance. 
Another three bedroom house has been recently sold for $385,000. It was sold by David Parry and David Burgess from Parry Property. 
<a href="https://www.realestate.com.au/sold/property-house-tas-south+launceston-127178918" target="_blank">The 2/3-7 Chungon Crescent </a>house came with three bedrooms, two bathrooms and undercover carport. It is also within minutes walk of the LGH, Charles Street cafe precinct and the CBD.
Investar puts it the suburb median rental at $300. 
The median house price sits on $279,500, according to CoreLogic. 
 
 
 
 
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South Launceston faces big stock decrease in homes for sale

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Continued growth in the Sydney market is being felt across the entire market however buyers are now becoming picky.
Conversion rates on Sydney property have increased from one in five visitors to a display centre to one in seven or eight according to CBRE managing director, residential projects, David Milton.
Presenting at a recent CBRE Sydney Market Outlook breakfast which reviewed the outlook for the office, retail, industrial and residential sectors for Australia and the broader Asia Pacific, Mr Milton said sales hadn’t slowed overall, with total sales 11% higher in the first half of 2015 relative to the corresponding period in 2014.  
<a href="/images/2015/07/23/Screen%20Shot%202015-07-23%20at%201.13.43%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2015/07/23/Screen%20Shot%202015-07-23%20at%201.13.43%20PM.png" alt="" width="820" height="450">
 
"Buyer enquiry rates were 29% higher in the first half of 2015, underpinned by a pick-up in offshore buying, with 19% of sales in the first half requiring FIRB approval as opposed to 13% in 2014," Mr Milton said.
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<img src="/images/2015/07/23/Screen%20Shot%202015-07-23%20at%201.17.32%20PM.png" alt="" width="816" height="408">
The presentation also highlighed:
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<li>
19% of sales from Jan to June 2015 were from FIRB purchasers, as compared to 13% in 2014 
</li>
<li>
Enquiries from Jan to June 2015 were 65k - an increase of 29% on the same period in 2014 
</li>
<li>
In 2015 owner occupiers have accounted for 50% of purchasers, up from 40% in 2014 
</li>
<li>Sales numbers from Jan to June 2015 were up 11% on the same period in 2014 </li>
</ul>
Is Sydney is attracting new business as an investment destination?
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OFFICE RENTAL MARKET
Adapting to a change in the marketplace was key to attracting iss the key for landlords given that “change is the new business as usual”, according to CBRE’s national director of transaction management Emil Joubert. 
Mr Joubert said tenants were increasingly examining their lease expiries well ahead of time – with some tenants whose leases expired in 2020/21 already examining if now was the right time to consider a move given the current vacancy forecasts.
CBRE senior director of office services, Jenine Cranston, said landlords need to consider flexibility to accommodate growth from tenants.
“In 20 Martin Place, the major tenants we’re speaking to all want growth rights,” Ms Cranston said. 
“It’s been a long time since we’ve seen that. For seven years, the discussions have mostly been around contraction, so this is a nice challenge for the market to have.”
Incubator IT companies needing short term space for six month growth was different to the usual tenant growth expectations of  18 months to two years.
<a href="/images/2015/07/23/Screen%20Shot%202015-07-23%20at%201.33.09%20PM.png">Click to enlarge</a>
<img src="/images/2015/07/23/Screen%20Shot%202015-07-23%20at%201.33.09%20PM.png" alt="" width="623" height="258">
 
Office yields are set to move higher in 2017
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<img src="/images/2015/07/23/Screen%20Shot%202015-07-23%20at%201.36.29%20PM.png" alt="" width="692" height="333"> 
CBRE’s head of research Australia, Stephen McNabb said that while most Australian office markets still favored tenants, a tighter vacancy outlook in Sydney was driving an improvement in face rents, with incentives having stabilised.
Mr McNabb noted that CBRE’s forecast for the Sydney CBD was for a below average 7% vacancy rate over the next 3-5 years, supported by a number of factors, including the withdrawal of office stock for residential redevelopment.
“We have seen rent growth in Sydney in the first half, which we haven’t observed for a long time,” Mr McNabb said.
This was one of the factors that meant Sydney was better place to withstand the office yield compression anticipated in some other Asia Pacific markets.
 
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"In the rental market, Australia was benefiting from a continued influx of foreign entrants, with 40 new store openings last year by new or expanding retailers and a further 12 openings in the first half of 2015.
"This was helping to drive CBD rental growth, with Sydney CBD rents having increased by 20% in the past 12 months and rental growth having also been recorded in the shopping centre sector."
 
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CBRE NSW state director, industrial and logistics services, Mike O'Neill, said Sydney leasing activity was up by 61% this year, relative to the corresponding period in 2014.
"Low supply would help drive Sydney rental growth with the new wave of speculative development not expected until next year," Mr McNeill said
"Another driver would be residential encroachments, in addition to factors such as the recent hailstorms, which had displaced a range of tenants and soaked up a considerable amount of vacant stock."
 
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