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

Sydney Property

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GUEST OBSERVER
The six district plans for Metropolitan Sydney must be amended to drive housing supply, says the Urban Taskforce. 
The district plans for Sydney along with the draft amendments to the Metropolitan Strategy contain a shift away from housing supply by reverting to single use zoning to focus on job.
The current Metropolitan Strategy (A Plan for Growing Sydney) clearly sees higher density housing as part of a mixed use approach to Strategic Centres but the draft amendment has removed housing in favour of commercial development.
The current focus by the NSW Government on housing affordability and the need to boost supply in Sydney must be enabled by the Greater Sydney Commission’s plans and how they influence decisions on planning proposals. With councils in Sydney going through an amalgamation process and the fact that it could be two years before Local Environmental Plans are completed it will be the District Plans that will influence planning decisions on new housing proposals. Sydney’s housing crisis needs urgent action.
A further shift away from housing supply has occurred with the use of the ‘precautionary approach’ to the rezoning of employment lands including inner city industrial sites that are becoming redundant. A number of planning proposals to develop mixed use precincts on these sites have been rejected over recent months by the Greater Sydney Commission’s Planning Panels because they do not conform with the draft District Plans.
The Urban Taskforce is concerned that there are now two conflicting planning documents for Sydney that both need to be considered to meet the Strategic Merit test for Planning Proposals. The existing Metropolitan Strategy clearly supports mixed use centres while the draft plans propose single use zoning. The confusion from these two planning documents is leading to significant risk for applicants of planning proposals.
The Greater Sydney Commission (GSC) has produced a significant amount of quality material that outlines the 20 and 40 year visions for Sydney in relation to the major growth that is predicted. There are many parts of the draft plans that contain excellent proposals. The Urban Taskforce’s submission to the GSC acknowledges the extent of the material produced and of the willingness of the commissioners and the staff to consult with the development industry. There are however a number of areas in the plans that we believe need further work and our submission focusses on these.
The Urban Taskforce submission contained 10 key issues which are listed below: 
1. Acknowledgement of the extent of the material
2. The legal status of the draft district plans in relation to ‘a plan for growing sydney’ is uncertain
3. The ‘three-city’ vision for sydney is supported 
4. A clear vision of the future built form of the greater sydney area is needed
5. Developers are increasingly becoming responsible for funding of infrastructure and affordable housing
6. Too many planning decisions are delegated to councils 
7. Housing supply must be given higher priority 
8. Community involvement must relate to the scale of the plan (local, district, metropolitan)
9. A mixed use cosmopolitan character should be promoted 
10. Affordable housing should be provided through an incentive-based system
The Urban Taskforce is keen to be involved in the amendment and refinement of the six District Plans and the Metropolitan Strategy - Towards Our Greater Sydney 2056 through discussions with the GSC.
We will also be producing research publications that add to the continuing dialogue between government, the community and the industry on Sydney’s future.
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The full submission on the Draft District Plans and the Draft Amendment to A Plan for Growing Sydney by the Urban Taskforce is available <a href="https://www.urbantaskforce.com.au/index.php?option=com_phocadownload&amp;view=category&amp;downloa%20d=2180:submission-draft-sydney-district-plans-and-towards-our-greater-sydney-2056&amp;id=2:what-s-%20new&amp;Itemid=141%20" target="_blank">here</a>.
 
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Draft district plans must be amended to help solve Sydney’s housing crisis

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Australia was now a key focus internationally for the super-rich, according to Knight Frank’s Global Head of Residential Lord Andrew Hay.
Sydney and Melbourne are on the top 10 list of most important cities globally for the wealthiest to invest, according to the Knight Frank City Wealth Index.
Sydney ranked 4th and Melbourne ranked 10th in the ‘investment’ category.
“Countries that offer a fiscal and political ‘safe haven’, as well as excellent quality of life, are expected to see strong growth over the next decade in UHNWI populations," he said.
Hay was in Sydney on Wednesday to promote Knight Frank’s 11th <a href="https://www.knightfrank.com/wealthreport" target="_blank">annual Wealth Report</a>.
Lord Hay said that the increase in the ultra-wealthy population globally has occurred despite ongoing political and economic uncertainty around the world having more of an impact on future trends. 
<a href="https://www.propertyobserver.com.au/images/2017/04/6/170331_WR2017_KF%20city%20wealth%20index.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/6/170331_WR2017_KF%20city%20wealth%20index.jpg" alt="" width="1025" height="1285">
“The momentum gained in wealth creation in 2016, although relatively modest, was far from being a foregone conclusion, especially given that nearly three-quarters of respondents to our Attitudes Survey highlighted political uncertainty as a significant threat to their clients’ availability to create and preserve wealth.”
Lord Hay said that since the global financial crisis in 2008, the world’s wealthiest people have shifted their focus from the size of returns to the safety of their capital.
"Property remains a target for outbound capital and our Attitudes Survey revealed 32% of UHNWIs globally will invest in offshore residential property in the next two years.”
He noted over the next ten years, key developments attracting global wealth into Australia will include Crown Sydney, One Sydney, One Sydney Harbour and Melbourne’s One Queensbridge. 
“Properties such as these offer a new investment proposition for inbound global wealth,” he said.
Knight Frank’s Director, Sales &amp; Marketing One Queensbridge, Erin van Tuil is leading the marketing for the development, in collaboration with Crown Resorts and Schiavello Group.
According to Michelle Ciesielski, Knight Frank Australia’s Head of Residential Research, Sydney recorded the highest global inflow migration of high-net-worth-individuals (HNWIs) at 4,000 in 2015, followed by Melbourne at 3,000; equivalent to four per cent of their established HNWI base.
“Ongoing migration to Australia is the attractive lifestyle and relatively healthy economy. Australia is projected to see a 70% growth in the UHNWI population between 2016 and 2026.” 
While Sydney and Melbourne house prices have doubled since the end of the financial crisis in 2009, these prices were "cheap" by "global standards", as shown in The Wealth Report. 
Sydney ranked 59 on the "square metres per $US dollar" scale and Melbourne is ranked at 110.
According to the Wealth Report, $US1 million ($1.3 million) buys 17 square metres in Monaco or 26 square metres in New York, 59 square metres in Sydney and 110 square metres in Melbourne.
“Within a global marketplace Sydney does look cheap, there’s no doubt about that,” says Lord Hay.
“And I don’t think you are heading for a crash.”
The Australian market was fundamentally healthy.
“To have a really successful market, you need a combination of overseas and local investment,” he noted.
“For me, the perfect ratio is 60 per cent domestic demand, 40 per cent overseas demand, so then you get the growth fuelled from overseas but it’s underpinned by a real domestic market.
“Here, you have that great balance. And for me, that’s what makes a sustainable market, but also an exciting market.”
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Sydney, Melbourne top 10 for world's wealthiest to invest: Knight Frank

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GUEST OBSERVER
With indicators showing a slow-down in housing approvals in Sydney some strong actions are needed to boost  supply and help with affordability.  
Global reports list Sydney as the second least affordable city in the world and strong actions are needed to stop us becoming number one.
The Demographia International Housing Affordability Survey 2017 lists Sydney number two after Hong Kong and ahead of Vancouver and Auckland as being the least affordable cities. Urgent action is needed to increase housing supply and create more affordable homes.
The Urban Taskforce has developed a ten point plan to drive more supply and to propose ways to create affordable housing across Sydney.
The most important action is to unlock the 50,000 potential new homes caught up in Sydney’s slow and complex planning system.
We asked our developer members if they had new homes held up in the planning system and we were amazed that over a few days we received a list of around 50,000 new homes that were being frustrated by council or state government requirements. These homes are spread across metropolitan Sydney. 
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 The NSW Government has been very successful in its infrastructure roll out of metro rail, light rail and new motor ways. This is the vital framework for the dramatic growth that is coming for Sydney. The city is also riding a boom in housing completions that come from approvals of a few years ago but there are signals that the supply chain is slowing down just when we need to re-boot it.
With governments at all three levels getting involved in housing affordability there seems to be a focus on the private sector development industry being the provider of affordable housing. While the private development industry must be part of the solution it is simplistic to just demand that they contribute 10% of new houses to councils. All this will do is increase the cost of the other 90 percent of homes thereby lifting Sydney closer to becoming the number one least affordable city.
There are better ways to use private sector contributions to the Sydney housing crisis but this must work with rather than against the industry. The Urban Taskforce has proposed 10 actions to drive Sydney’s Housing Supply and Affordability. These include reviewing well-meaning design guidelines that add significant costs, reviewing recent changes to District Plans that stop housing in certain locations and importantly unlocking thousands of potential new homes locked in the complex and slow NSW planning system.
Our message to the NSW Government is that the big picture policies about infrastructure are working well but at the coal face the development industry is finding it is getting harder to realise projects. A number of seemingly small or local issues are compounding to put many housing projects on hold just when we need to keep the supply pipe-line flowing smoothly.
Here are the 10 Actions that can help drive Sydney’s housing supply and affordability:
<ol>
<li>Fast track housing projects caught in the planning system  </li>
<li>Use government owned land to build significant amounts of affordable housing  </li>
<li>Update the affordable rental housing sepp to provide 40,000 affordable homes over 10 years  </li>
<li>Remove restrictive zoning in centres and on industrial land that stops new housing  </li>
<li>Remove excessive cost adding standards in sepp 65 for cbd areas  </li>
<li>Establish a one stop shop to speed up referrals to government agencies on housing projects  </li>
<li>Restructure planning proposal processes to support changing environment  </li>
<li>Develop a complying code for 6 storey apartments with quick approvals  </li>
<li>Ensure value capture and infrastructure contributions do not stop housing project  </li>
<li>Support stamp duty reforms and institutional funding for affordable housing  </li>
</ol>
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI">here</a>.
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cjohnson-8xfqfuuCSq

Sydney’s housing crisis needs strong actions to maximise supply: Chris Johnson

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Faster commutes on the back of infrastructure upgrades in New South Wales are set to boost property values and quality of life according to Raine &amp; Horne executive chairman Angus Raine.
He said major NSW infrastructure projects such as the Sydney Metro Northwest, WestConnex, NorthConnex and the upgrades to the Princes Highway on the NSW south coast are set to slash the time it takes for workers to get from the front door of their homes to their desk each day.
"Long commute times steal many hours a week from the lives of owner-occupiers and tenants, and any infrastructure project that reduces commutes below the 1-hour door-to-desk sweet spot will add to a suburb’s appeal and increase property values," he said.
Andrew Tregent, principal of Raine &amp; Horne Ettalong said NorthConnex, the 9-kilometre tunnel linking the M1 Pacific Motorway at Wahroonga to the Hills M2 Motorway at West Pennant Hills, is a popular topic of conversation at open homes on the NSW Central Coas.
“NorthConnex will slash travel times from the Central Coast to Sydney by up to 15 minutes per trip[i], which is the equivalent of more than 4 days annually,” said Mr Tregent.
“NorthConnex will give commuters an alternative to the Pacific Highway, which is a bottlenecked basket case, particularly on Monday mornings and Friday afternoons.
“While the long-mooted Ettalong-to-Sydney fast ferry has never eventuated, there are tunnel machines in the ground for NorthConnex. It’s happening, and we expect that once we get closer to the completion date in 2019, more buyers from Sydney will jump ship to the Central Coast and prices will advance in Ettalong, Umina and Woy Woy as a result.”
Lisa Surian, Director, Raine &amp; Horne Parramatta said WestConnex, a 33-kilometre motorway that will link Western Sydney with Sydney Airport and the city’s south, is expected to slash the door-to-desk commute from Parramatta to the CBD by 25 minutes, and from Parramatta to the airport by 40 minutes[ii].
“People travelling from Parramatta to Sydney on a daily basis could save the equivalent of almost 7 days annually door-to-desk,” she said.
“We’re keen for WestConnex, which will bypass up to 52 sets of traffic signals.”
"WestConnex, which is expected to be completed by 2023, will impact real estate values because shorter commute times will allow those currently priced out of inner-city suburbs to move to Parramatta and beyond to secure a more affordable home.
“Another benefit of WestConnex is that it will ease congestion on overworked arterial roads such as Parramatta Road and Victoria Road.
“WestConnex and NorthConnex will boost property values on existing arterial roads by as much as 5 or 10 percent because buyers will be more inclined to live on older arterial roads that are quieter and less congested as a consequence of traffic being diverted away by the new motorway networks.
“When the M2 was completed, the Hills district’s real estate values took off.”
Emmanuel Fardouly, Principal of Raine &amp; Horne Bella Vista/Glenwood said the 36-kilometre Sydney Metro Northwest will open in the first half of 2019 with a metro train every 4 minutes at peak times. It features eight new metro stations, five upgraded stations and 4,000 commuter car spaces.
"Two of the new stations will be Bella Vista and Norwest, which are in Bella Vista and from Bella Vista, commuters currently must take a bus to the city or drive to Seven Hills, Pennant Hills or Blacktown to catch a train," he said.
“Whether you take the car/train option or travel by bus to the CBD, the commute can take 1.5-2 hours in peak times.
"Once Sydney Metro Northwest is running, a train from Bella Vista to Central Station will take just 45 minutes door-to-desk, a saving of more than 12 days annually for a daily commuter.
“The existing traffic congestion on the roads in Bella Vista and Glenwood that flow into the M7 and M2, mean that a 5 minute trip becomes a 30 minute ordeal during peak times.
“This new infrastructure will take more cars off local roads and reduce gridlock, which will be good for local residential real estate values and commercial activities. 
“We’ve already see the impact of Sydney Metro Northwest on Bella Vista. In the first 3 months of 2017, values have risen by 7-10 percent as more buyers realise the massive benefits in store once the new train infrastructure is in place and they can enjoy faster door-to-desk commute times.”
 
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Faster Sydney commutes will boost property values, way of life: Raine & Horne

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PRDnationwide nominated three suburbs as their affordable house hotspots for 2017.
Gymea
Approx. distance from CBD: 20km
Median house price: $1,200,000
2 Bed Median Price $1,132,500
3 Bed Median Price $1,195,000
4+ Bed Median Price $1,235,000
Located south of Sydney, Gymea enjoys close proximity to Port Hacking, southern beaches and national parks.
The suburb has experienced continuing strong house median price growth of 13.1 percent over the last year.
A very low vacancy rate of 0.5% reflects the high demand for rental properties. It offers good accessibility for CBD commuters with its own train station.
An estimated $37.7 million of developments are planned for construction in Gymea over the 18 months from January 2016.
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-gymea-122813682" target="_blank">110 Manchester Road</a>, Gymea (above) was sold for $1,920,000.
North Parramatta
OVERVIEW
Approx. distance from CBD: 20km
Median house price: $1,107,035
<ul>
<li>2 Bed Median Price $850,000</li>
<li>3 Bed Median Price $1,107,035</li>
<li>4+ Bed Median Price $1,200,000</li>
</ul>
North Parramatta is not only close to the satellite city of Parramatta but is also home to Charles Sturt University as well as a number of prestigious private schools.
Located north-west of Sydney’s CBD its median house price has increased by a solid 9.3% over the last year.
Its situation, close to Parramatta’s continuously developing high-rise and commercial hub, as well as its own estimated $13 million of new developments, reflects the positive economic activity and impetus for the area.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+parramatta-122506454" target="_blank">29 Gilbert Street</a>, North Parramatta (below) was sold for $1,045,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/29%20Gilbert%20Street.jpg" alt="">
Roselands
OVERVIEW
Approx. distance from CBD: 13km
Median house price $970,000
• 2 Bed Median Price $960,000
• 3 Bed Median Price $927,500
• 4+ Bed Median Price $1,120,000
Roselands is situated in Sydney’s south-west, near previous and current hotspot, Greenacre, with direct access to the key M5 transport route.
Over the last year it recorded solid median house price growth of 5.4%, together with low vacancy rates of 1.4% (less than Sydney’s rate of 1.9%) and rental yield of 3.0%.
Projects, with an estimated value of $155 million, are planned to commence in 2016 and 1st half 2017.
This extensive construction activity provides strong potential for Roselands’ future economic growth.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-roselands-121707758" target="_blank">136 Karne Street</a>, Roselands (below) was sold for $995,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/136%20Karne%20Street.jpg" alt="">
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Roselands, Gymea and North Parramatta nominated as Sydney property hotpsots

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The Sydney unit market was now in a stabilisation phase following substantial additions to supply of new units, according to the latest report from PRDnationwide.
The Sydney Hotspots: Second Half of 2016 report focused on suburbs within a 20km radius of the CBD, taking into consideration the following factors:
<ul>
<li>Sales indicators - median price growth over 2016 and previous years, number of sales, average days on the market, and vendor discounting.</li>
<li>Rental indicators - median rental price, rental yield, and vacancy rates</li>
<li>Affordability - the average New South Wales home loan, of $443,893* as at June 2016, which is a change of 1.9% over the previous quarter.</li>
<li>Project developments commencing in 2016 - commercial, mixed use, infrastructure, industrial and residential. This indicates potential increases in economic and commercial activity, interconnectivity to the key transport routes, the CBD and other major urban business hubs</li>
</ul>
Click to enlarge:
<a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-1.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-1.jpg" alt=""></a>
<a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-2.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-2.jpg" alt=""></a>
<a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-3.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-3.jpg" alt=""></a>
 
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Manly apartments rank among Sydney's top performing unit hotspots: PRDnationwide

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You can still rent in Sydney for under $350 per week. Willmot in Sydney's Blacktown is the place if you are looking for houses and Berkeley Vale in Wyong for units, says CoreLogic in its top 10 picks for the lowest median rent suburbs in Sydney in 2016.
The median rent for houses in Willmot was $330, according to CoreLogic's analysis to September 2016. The top 10 list in CoreLogic's Best of the Best 2016 is evenly split among the council areas of Blacktown and Wyong, with Blacktown's Willmot and Blackett the top two cheapest followed by Budgewoi in Wyong.
For units, Berkeley Vale's median rent was $300, followed by Carramar in Fairfield at $310 pw and Bradbury in Campbelltown at $315.
The median price of houses in Willmot was $420,492 while in Berkeley Vale, the median value of units was $323,189.
<a href="https://www.propertyobserver.com.au/images/2017/01/11/SydMedRentLo-Blacktown.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/01/11/SydMedRentLo-Blacktown.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/11/SydMedRentLo-Wyong.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/SydMedRentLo-Wyong.png" alt="">
Property Observer looked for some houses and units that match the criteria for lowest median rents.
A two-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-willmot-419996750" target="_blank">32a Resolution Avenue Willmot NSW 2770</a> is up for rent at $330 per week, matching the rental median.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/SydLowRent-Willmot.jpg" alt="">
For units, Property Observer found one example. A one-bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-berkeley+vale-413379731" target="_blank">28A Wyong Road Berkeley Vale NSW 2261</a> is available for $250 per week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/SydLowRent-Berkeley.jpg" alt="">
 
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Sydney's Blacktown vies with Wyong for lowest median rentals: CoreLogic

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Quite remarkable that the Lower North Shore property markets are showing no signs of slowing as we edge closer to Christmas.
What is very clear is that all but guarantees another very strong March quarter for 2017, where beyond that would be anyone’s guess.
Whilst many expect that the Reserve Bank of Australia will cut the cash rate in the next six months we are now starting to witness some small Australian lenders increasing their rates which sends a loud signal that we may now be witnessing the end of the low rates. I made a phone call and was advised that ING have the lowest rate presently at 3.84 percent over five years fixed. ME head of home loans, Patrick Nolan, said: “The increases were based on increasing swap rates – up 40 basis points since the end of August – and increasing cost of deposit funding.”
Yes, there will be casualties, more particularly the interest only borrowers. I read a sage quote by a banker on Twitter who said: “If anyone is taking out a 20 – year mortgage and they don’t believe rates will rise, I’d ask them if they should be making this investment. It is an unrealistic proposition,” he said.
What needs to be factored in is that wages rose by 1.9 per cent during the September quarter, which was a record low according to the Australian Bureau of Statistics.
The NSW Government’s property development arm known as the Greater Sydney Commission released this week the first draft for the five – year housing targets by Local Government Area. A total of 23,250 new properties have been approved, with Mosman to build 300 new properties and North Sydney 3,000 and the Northern Beaches an additional 3,400.
<a href="/images/2016/11/28/Draft-Districts.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/28/Draft-Districts.png" alt="">
 
I really find this quite intriguing with present data suggesting that Sydney is now facing an imminent over – supply. NSW is in the process of building 55,000 new apartments with thousands more on the planning desks awaiting approval.
As these apartments are completed this will be a significant lever in reducing rents. When I look at Mosman I observed from CoreLogic that the rental median for a house in Mosman is $1,600.00 per week which is a 16.4 per cent increase over the last five years. The rental median for an apartment is $580.00 per week which is a 16.0 per cent increase over the last five years.
From an economic perspective, this is good news for NSW as it will drive employment as well as productivity. Property investors need to look closely at where their respective investment properties are within the Local Government Areas to ascertain what impact this unprecedented apartment building bonanza will have. One would have to say that in the short – term in the case of Mosman that apartment rents will be coming down. Even more so in North Sydney as they have a massive 3,000 apartments to be built over Mosman’s 300. For the fortunate ones if you own a residential development because it just doubled and trebled in value with the new high density legislation.
What needs to be acknowledged is this is what we call the new market and should not be confused with the established housing market as we are building apartments not houses. Although one point that springs to mind is that investors will be forced to renovate existing apartments if they are going to compete in the market on a rental dollar basis as they will be up against brand new apartments.
The building industry has never seen a better future although little consideration has been given to existing property owners who must contend with greater traffic congestion on our roads. So, if you thought our roads are congested now this week’s announcement will only make the situation worse.
Over time this will see more businesses moving to the suburbs, so a smart town planner must be marinating these development sites with a combination of commercial, retail and residential. Although we all know that this won’t happen as that would be the intelligent outcome to try and ease traffic congestion. Happy to bet now that these new developments will be strictly residential only although I will be more than happy to be wrong with this.
What is happening in Sydney will also see many leave Sydney for quieter and a more stable lifestyle. Whatever the outcome this will have plenty of Sydneyites re – considering their respective futures.
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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robertsimeon-hRNTwJyXkQ

An insight into Sydney, now one big building site

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Housing price growth of between 4 and 6 percent is expected for 2017 for both detached houses and apartments supported by strong population growth and limited signs of oversupply according to Paul Bloxham, HSBC chief economist.
He said apartment prices are expected to track at a slower pace than detached houses. 
"In the detached house market there is only modest growth in new supply expected," he said.
<a href="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%201.07.56%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%201.07.56%20PM.png" alt="">
"Overall housing price growth should cool somewhat in response to continued tight prudential settings, particularly in the apartment market. 
"Weaker foreign demand, due to a lower RMB, is likely to weigh on the Sydney apartment market. 
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Weaker foreign demand to hit Sydney apartment market: Paul Bloxham's 2017 forecast

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<div>
Young home buyers who want to put a toe into the booming Sydney property market are turning to an innovative trading platform that offers part ownership.
The BrickX investment scheme allows for the online purchase and sale of ‘Bricks’ starting from as little as $67 in residential properties. 
Young couple Steven Farrer (30 yrs old) and Holly Bozier (24 yrs old) are among the early stakeholders who've bought a small stake in a Mosman flat where the so-called bricks are selling for $140 each.
They didn't want to be over-committed, but nor locked out of the property market. And are happy to learn about the property market through their outlay.
They own eight - costing $1040 - of the 10,000 so-called bricks in the two bedroom Parriwi Road flat which was bought by the fractional ownership company for $1.2 million in 2015 with its tenants now paying $990 a week.
"The BrickX website offerings have been like looking at a real estate office website, however this time we can afford to invest in the property we see," Steven said.
"We have been to heaps of open homes however everything is being sold way over the buyers' guide price and is just out of our price range. 
"We wish we has bought something two to three years ago," said the couple who have their finances pre-approved to buy their first home. 
"But we don’t want to spend $750,000 on a property today and find it's worth $600,000 or less tomorrow if the market crashes."
Like shareholders in publicly listed companies, first home buyers and investors can also also buy into their Enmore apartment at $67 per investment or an Annandale house at $98 a brick. 
Steven Farrer and Holly Bozier say knowing that experts - including CoreLogic head of research Tim Lawless and Nerida Conisbee, chief economist at the REA Group - are doing all the hard work prompted their decision. 
BrickX chief executive Anthony Millet said they were working towards having 100 properties.
BridgeLane Group's Markus Kahlbetzer is the co-founder of BrickX having devised what he envisages as an easy route into investing in residential property across Australia with transparency. 
Until this month it was licensed only for wholesale investors under the Corporations Act, but the offering is now available to regular mum and dad type retail investors who will derive dividend incomes on a monthly basis. Investors can buy a maximum 5 percent ownership. 
Each individual property is in a trust and investors can buy or sell into that trust.
The property is managed by BrickX on behalf of the investor on the platform, and the investor receives a dividend from the rent of the property that they own, in proportion to the units that they own in the trust. As the price of the “Bricks” move, so do the investor’s returns.
There is no minimum investment required to purchase Bricks and there is a flat 1.75 percent transaction fee on purchases.
Tim Lawless says it would carefully select properties based on a number of key strengths including:
</div>
<div>
<ul>
<li>Value $500k-$1.5m</li>
<li>Newly renovated/good condition</li>
<li>Modern fit-out</li>
<li>Buying the normal type of property in an area (i.e. if a suburb is known for houses, buy the normal)</li>
<li>Healthy strata budgets</li>
<li>Avoid large unit blocks where rents can be under pressure from other void units in same block</li>
<li>Avoid off plan or large new developments</li>
<li>Avoid properties which have additional features that would add to the running costs (i.e. pool)</li>
</ul>
<a href="https://www.brickx.com/how-it-works?utm_source=propertyobserver&amp;utm_medium=runofsite&amp;utm_term=becomeapropertyinvestor&amp;utm_content=halfpage&amp;utm_campaign=launch" target="_blank">For more information</a>.<a href="https://www.brickx.com/properties/MOS01/summary" target="_blank"> </a>
This article was first published in the Daily Telegraph.
</div>
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