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

Wollongong

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The upturns in Newcastle and Wollongong lagged the Sydney market and prices have also held up better through the Sydney market downturn, according to the latest BIS Oxford Economics Residential Property Prospects 2019 to 2022 report. 
The report suggests the upturns have been partly supported by stamp duty exemptions being offered for first home buyers on purchases under $700,000.
Being closer to Sydney, the price falls will reduce trade-down activity into Wollongong.
Associate Director and report author, Mr Angie Zigomanis said, “Wollongong is closer to Sydney and prices have moved more in tandem as people in Wollongong have the ability to commute to Sydney."
"Newcastle is further away and the property market is more reliant on the local economy, which was hampered during the Sydney upturn by a fall in coal investment."
"It therefore didn’t have the upturn of Sydney and so has not really had much of a correction."
"It also means that there is more upside to prices because it is now more affordable relative to Sydney and therefore attractive for people to move north as the local economy improves, and it is also starting from a lower base," he stated.
The firm said the Wollongong median house price is forecast to rise by 5% in the three years to June 2022.
In comparison, greater affordability in Newcastle is likely to provide more upside, with an aggregate 9% rise forecast.
After an estimated 18% decline in the median house price in Sydney in the two years to June 2019, house price growth is expected to stabilise through 2019/20 as affordability improves and credit conditions ease.
A total rise of <a href="/expert-insights/buying/sydney-median-house-price-expected-to-rise-6-by-2022-bis-oxford-economics">6% is forecast for Sydney’s median house price</a> in the three years to June 2022.
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Newcastle and Wollongong residential markets performing well: BIS Oxford Economics  

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Wollongong was in the bottom three when it came to clearance rates at auction this weekend, with a rate of just 38 percent.
Around 32 properties went to auction in Wollongong, however, only 10 sold of the 26 confirmed results.
Overall, auction activity picked up over the week with 2,119 homes taken to auction.
There was an increase in auction volumes over the week with 2,119 homes taken to auction across the combined capital cities, up from 1,851 over the previous week although lower than this time last year (2,519).
Preliminary results show a clearance rate of 49.8 per cent across the combined capital cities, up from 47.0 per cent last week, however much lower than 12 months ago (64.7 per cent), marking the 4th consecutive week where the clearance rate has been below 50 per cent.
Properties caught up in low clearance rate in Wollongong included <a href="https://www.realestate.com.au/property-townhouse-nsw-wollongong-129269514" target="_blank">11/3 New Dapto Road, Wollongong</a>  (pictured above) which did not sell.
The three bedroom two bathroom townhouse set over two story's features a double lock up garage.
With a price guide of $725,000 to $750,000, the 224 sqm home last sold in 2002 for $365,000.
<img src="https://www.urban.com.au/images/2018/10/22/Wool%202.JPG" alt="">
Another home that didn't succeed was <a href="https://www.realestate.com.au/property-house-nsw-balgownie-129423138">21 New Mount Pleasant Rd, Balgownie</a> (pictured above).
Set on 980 sqm the four bedroom two bathroom home features a wraparound balcony.
The price guide for the home was $1,050,000 to $1,150,000.
<img src="https://www.urban.com.au/images/2018/10/22/Wool%203.JPG" alt="">
However a home that did manage to sell in Wollongong is <a href="https://www.realestate.com.au/sold/property-house-nsw-figtree-129435162" target="_blank">14 Camden Grove, Figtree</a> (pictured above).
The four bedroom two bathroom hope is close to the Wollongong CBD.
Last sold in $705,000 for 2016 the home sold for $750,000, showing some price growth.
This was an appreciation of 3.14% annually.
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Wollongong's 38 percent weekend auction clearance rates

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The Wollongong Mall building leased to CBA is set for October 23 auction.
Located at 141-145 Crown Street, the three level building is leased to the bank until 2022 with options to 2032.
The building was built in 2012 to CBA's corporate standards.
Positioned in the Central CBD near Wollongong train station, the 858 square metre building has double retail frontage to Crown Street Mall.
<img src="https://www.urban.com.au/images/2018/10/15/Wollongong%201.JPG" alt="">
The property is set on a 569 square metre site an hour south of Sydney.
The net income on the property is currently $610,382 per annum plu GST and the listing, held by Burgess Rawson, notes the building has "substantial tax depreciation benefits".
In 2010, the holding sold for $3.41 million.
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CBA's Wollongong Mall premises to go under the hammer 

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Wollongong has had another weak auction result.
With a clearance rate of just 48%, over half of the 40 properties taken to auction were passed in.
This is in line with Wollongong's recent performances as two weeks ago there was an even lower clearance rate of 34.5% on 41 total properties. 
<img src="https://www.urban.com.au/images/2018/8/21/Wollongong%20weakness.JPG" alt="">
However one home that succeeded at auction was <a href="https://www.realestate.com.au/sold/property-house-nsw-mangerton-128892022" target="_blank">21 Byarong Avenue, Mangerton</a> (pictured above), a four bedroom two bathroom recently renovated house.
The Mangerton dwelling sold for $957,000 this Saturday through Belle Property.
The 588 square metre holding last sold in 2015 for $625,000.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%202.JPG" alt="">
Following the trend of passing in at auction is 10a Love Street, a three bedroom two bathroom home (pictured above).
Close to beaches and cafes the home comes with an ocean view and an asking price of $819,000.
The dwelling was last listed in 2015 for 100 days after which it was taken off the market.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%203.JPG" alt="">
Another home that failed to sell is an original fifties-era cottage bordering Towradgi Creek which had a price range of $890,000 to $960,000.
Set on a 518 square metre block the <a href="https://www.belleproperty.com/listings/678933/59-lake-parade-east-corrimal-nsw-2518/" target="_blank">59 Lack Parade, East Corrimal</a> home (pictured above) is a near public transport options as well as the local school.
The home has only been on the market for 35 days and has never sold before.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%204.JPG" alt="">
A third house in Wollongong that failed to sell is <a href="https://www.belleproperty.com/listings/675726/52-edgar-street-towradgi-nsw-2518/" target="_blank">52 Edgar Street, Towradgi</a>.
The four bedroom two bathroom home (pictured above) comes equipped with both a study and two parking spaces.
The dwelling's current price guide is holding at $1.5 million - $1.6 million.
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Wollongong's weakness at auction continues 

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Sydney developer Level 33 has received approval for a new mixed-use project at 9-15 Railway Parade in Wollongong.
It will span 18 levels.
Skye Tower will feature 105 apartments, ground floor retail and around 585 square metres of commercial space.
Eddy Haddad of Level 33 said he had been receiving a steady stream of enquiries from local buyers and investors, 
Level 33 has already completed successful projects in Wollongong, selling out the nine-story ViVid apartments in Auburn Street, a site that had been vacant for 15 years.
The group also has another major project at Denison St Wollongong, plans for which have been submitted to council.
Will Wehbe of St Trinity Property Group is project marketing the new mixed-use tower.
“Wollongong is currently experiencing a surge in popularity from Sydneysiders looking for more affordable property prices, with the region’s seaside location proving a big drawcard for many buyers, particularly those buying their first homes,” Wehbe said.
“To date we’ve had over 50 interested parties who have confidence in the property.”
Haddad said that Skye Wollongong will be officially launched mid-year.
Prices for a one-bedroom apartment at Skye are expected to start at around $460,000, while two-bedrooms including a secure car space will start at $555,000 and three-bedrooms from $750,000.
Construction is expected to commence late in 2018 and be completed by the end of 2020.
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18-storey Wollongong tower receives DA approval

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CuffeLinks investment newsletter publisher Chris Cuffe is selling his Bulli weekender since he's now spending most of his time at the Terrey Hills acreage bought for $4.75 million in 2015. He's also secured a Pittwater waterfront.
Cuffe paid $1.54 million for the vacant 670 sqm waterfront parcel in 2004 before commissioning the <a href="https://www.realestate.com.au/property-house-nsw-bulli-126493350" target="_blank">modern brick home</a>.
Looking out over McCauley's Beach, the home has five bedrooms and three bathrooms.
<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/2017/10/04/Bulli2.jpg" alt="">
Bevans Thirroul agents Justin Sydenham and Jade O'Bryne have set an October 21 auction, suggesting a guide of around $3 million.
Cuffe has held senior roles at Colonial First State and Challenger Financial Services.
He has donated a significant amount of his management fees to charity.
This article was first published in the Sunday Telegraph.
 
 
 
 
 
 
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firstname1-iYD4UYzvBa

CuffeLinks investment newsletter founder lists Bulli weekender

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A substantial site in Wollongong for which Visionary Investment Group planned a Greg Norman-designed 18-hole golf course and housing has been rejected by the local council.
The matter is now on appeal before the Land and Environment Court.
VIG had sought to create create 105 residential lots on the site to form an integrated resort on the 187-hectare site on Avondale Road in Avondale sub-division, The Australian Financial Review reported.
However, the Wollongong City Council rejected it because of "environmental impact, traffic and planning concerns”.
VIG declined to comment in detail due to court action but said it was "fully committed to long-term investment in the Illawarra region".
"Our integrated resort development would not only showcase the best that the region has to offer but more importantly bring employment and long-term sustainable economic growth to the region, especially in tourism, hospitality, retirement and other services sectors," VIG chief executive Michael Guo was quoted by the AFR as saying.
"We will continue working with the community, council and all stakeholders to make our integrated resort development the true pride of Illawarra."
VIG had worked on Avondale for several years, reflecting a trend for developers turning towards masterplanned communities and house and land development, as the apartment prices cool in Sydney.
Wollongong is also popular because of its access to a university and growing economy.
In fact, a BIS Shrapnel report found sometime back that Wollongong was beating Newcastle in attracting potential property buyers priced out of the Sydney market, with Wollongong's vacancy rates falling and the median house price rising by 14% in 2014/2015 according to The BIS Shrapnel Residential Property Prospects 2015 to 2018 report.
 Last year, Visionary Investment Group had also announced the arrival of hotel and residential brand Silkari with the launch of three properties.
 
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Visionary's plans for Greg Norman-designed golf course and housing project rejected by council

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SPONSORED POST
Sam Khalil's property investment outlook investigates and dissects recent market changes that Australian property investors should be aware of.
In part one, Sam Khalil gave his thoughts on <a href="/expert-insights/investing/sam-khalil-s-property-investment-outlook-part-one">Australian property investment in 2017</a>.  He looked at performance in the capital cities and identified regions that will continue to grow despite changing market forces. 
In part two, Sam investigates and dissects recent market changes that property investors should be aware of.
Stricter lending rules
There are far tighter lending guidelines than ever before. This has all been generated by ASIC, worried about high levels of risk in a red hot market.  It has trickled down to all the major lenders. CBA and Bankwest are refusing to refinance investors. While AMP will no longer offer new investor loans through their mortgage channel. Other lenders such as MyState have imposed a 12 basis point margin on all variable and fixed rates, for both investment and residential loans. Meanwhile APRA is bringing in a 10 percent speed limit for investors. There could be more restrictions on the horizon with APRA worried about the level of risk in the market.
Overall lenders are charging more for investment loans and then again for interest only. This will make people revaluate their lenders and question if they will purchase at all.
Foreigners locked out of the market
There has been a distinct clamping down on foreign investment over the last year. Westpac is not writing loans for non-residents, ANZ is no longer lending to non-residents and the CBA is following suit. Other banks have similar tight restrictions. The sum effect has been that foreign investors are walking away in droves, many unable to get funding. This in turn will have a flow on effect to the construction industry, impacting on the number of new builds. There’s also speculation that foreign investors will favour apartments over houses even more than they currently do because they need a lesser deposit.
Development slowing down
Developers have seen significant tightening in lending for projects. This has slowed down supply, which may be a stabilising measure to avoid any large property bubble bursting.  Banks have especially tightened down on lending to residential property developers with an oversupply of apartments and high-rise towers an especial concern. This has led to many developers to put projects on hold and others look to for alternate funding.
Shortage of land
There’s a desperate demand for new land supply in <a href="https://www.dpn.com.au/learn/market-updates/macarthur-the-sleeping-giant-of-sydney" target="_blank">Sydney’s fringe</a> as well as Wollongong and Newcastle. Developers are finding it extremely difficult to process land through local councils and then register the land. We must hope that the NSW government can fast track services to bring land to the market sooner so pricing doesn’t continue to increase dramatically due to lack of supply. This is the primary issue affecting housing affordability: land supply and how quickly it arrives to the market. Remember there’s always a lag between development and construction and the frantic nature of the market itself.
Apartment oversupply
There’s a real concern about apartment oversupply in the major capital cities, especially in Melbourne. The Commonwealth Bank estimates 140,000 new apartments will be built in the city from 2016 to 2018. This oversupply will ultimately lead to a drop in prices. Some experts are anticipating drastic drops of up to 20 percent in some suburbs by 2019.  So projected growth for apartments in many major cities has hit its peak and is estimated to correct or be sideways for next 5-8 years, with owners losing money and not getting capital growth. So there’s a clear message here: be very wary of apartment purchasing for the next few years. Research the area and project meticulously.
The global market
Well, it’s almost impossible not to talk about the political upheavals last year. From Brexit through to Trump it was a year of surprises. Trump’s avowal to increase spending around infrastructure and his distancing from the Asia trade pacts will certainly have an effect on Australia. His promise to pour money into defence and infrastructure will act as a fiscal stimulus. It’ll also mean lots of capital fleeing Australia and going into the USA. Potentially Australia will have to lift interest rates to compete and keep capital here. This in turn will effect market sentiment. Properties and projects that are vulnerable will be exposed awfully quickly.
You can read the original article <a href="https://www.dpn.com.au/learn/market-updates/sam-khalil%E2%80%99s-property-investment-outlook-part-two-winter-2017" target="_blank">here</a>.
For more information from <a href="https://www.dpn.com.au/" target="_blank">DPN</a>.
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Sam Khalil’s property investment outlook - part two

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SPONSORED POST
The Australian property market is shifting and changing thanks to a multitude of forces. DPN's Managing Director, Sam Khalil shares his thoughts on the current market and reveals property investment opportunities in the Wollongong, Newcastle and Brisbane areas.
The last five years have seen a phenomenal surge in the demand for property. It’s been a perfect storm of consistently low interest rates; an endless, thirsty demand for stock and foreign investment at record high levels. This in turn pushed up construction and new builds and kept up supply.
However, like all good things it had to come to an end. This is not to say the market is in trouble by any means. More that it’s no longer like 2012 or 2013 where property investment was like shooting fish in a barrel. Almost anyone with a little knowledge and a lot of luck could do well in the prosperous conditions.
But things have changed in <a href="https://www.dpn.com.au/learn/market-updates/sam-khalil%E2%80%99s-property-outlook-for-summer-2016" target="_blank">the last 12 months</a> and so 2017 and beyond will still present golden opportunities, but only for the canny and well researched investor.
How property investment is changing in the capital cities
2016 saw Melbourne and Sydney continue to rise significantly compared to other Australian cities. Despite gloom and doom predictions - remember there were lots of experts claiming Melbourne would slump in 2016 and that Sydney would stagnate - both cities outperformed expectations. In fact, dwelling prices rose 15.5 percent in Sydney whilst Melbourne had a rise of 13.7 percent for the year.
Perth had experienced seven quarters of negative growth and is in major recovery mode after its boom and bust. However, it may well have reached the bottom and signs are that it’s slowly starting to ascend. In the last 3 months there has been a small increase in property prices for the first time in a long time. It’s still a long way back, but investors who can’t afford the big capital cities may start looking in this direction.
Brisbane started a gentle ascent and should continue to find value in housing and land appreciation, whilst inner city apartments may experience price correction as I detail in part two.
So how will 2017/2018 play out? I’m confident we’ll see rises in Sydney and Melbourne as demand and sentiment still remain positive. Brisbane investment property will continue to follow closely behind. The lending measures that may impact the market and sentiment are the move in interest rates from lenders separate to the Reserve Bank.
Look to the regions
Land in <a href="https://www.dpn.com.au/learn/market-updates/macarthur-the-sleeping-giant-of-sydney" target="_blank">South Western Sydney</a>, Wollongong and Newcastle remains very tight with strong local and investment demand helping sustain and increase prices of land.  These areas will only continue to grow in 2017. It’s not just investors but we’re seeing many Sydney “refugees” – that is younger owner-occupiers - who are moving to these areas in search of houses they can afford. Because all three areas are within coo-ee of Sydney and they all have their own strong infrastructure and local economy they are highly desirable and will continue to rise.
It’s worth noting that Brisbane is also showing signs of upward movement in land values in the metro area. And not just Brisbane itself, but even further out there’s some very strong opportunities as we recently noted in the case of <a href="https://www.dpn.com.au/learn/market-updates/why-springfield-brisbane-is-a-hot-investment" target="_blank">Springfield</a>.
Overall forecast
So what does all this tell us? Sam Khalil’s outlook is positive, there are a myriad of opportunities in the market. Which, as we know, are really <a href="https://www.dpn.com.au/learn/how-to-guides/what-is-a-property-market" target="_blank">many different markets</a>.
The caveat being that one has to be more selective as market forces could change due to macro economic factors and policy changes by the regulators as well as the oversupply of apartments. This apartment oversupply poses the greatest risk for investors. It’s a cautionary reminder of not buying through emotion. Or buying the wrong product at the wrong time.
There are some excellent prospects for property investment in the right areas that may not fit investors’ usual comfort zones. 2017/2018 will definitely be about hunting in different fields, certainly not in the usual areas that investors have been doing.
So there won’t be any quick rewards from backing the same winners of the past five years. The investors that will do well in the next 12 months will be those who put in the solid research and are prepared to look in other areas off their normal radar. As always: if you put in the work, the research and don’t automatically follow the herd, you can reap great rewards.
In part two, Sam Khalil investigates and dissects recent market changes that <a href="/expert-insights/investing/sam-khalil-s-property-investment-outlook-part-two">property investors should be aware of</a>.  He covers lending policy, slowing development and challenges with land and apartment supply.
You can read the original article <a href="https://www.dpn.com.au/learn/market-updates/sam-khalil%E2%80%99s-property-investment-outlook-part-one-winter-2017" target="_blank">here</a>.
For more information from <a href="https://www.dpn.com.au/" target="_blank">DPN</a>.
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Sam Khalil’s property investment outlook - part one

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Potential buyers at Parq on Flinders, an apartment development in Wollongong, are being lured with just a 2 percent deposit.
An advertisement for Parq on Flinders, running as a campaign on Colliers International’s website, says more than 70 apartments have already sold and prices for the remaining apartments will be increased after July 1.
The $88 million complex will have 221 apartments and a number of commercial sites, according to the Illawarra Mercury.
The project is being developed by Malaysian consortium Gateway Wollongong.
The display suite is at 96 Smith Street.
A one-bedroom apartment is selling for $419,000, while the two bedroom is for $609,000 and the three bedrooms for $759,000.
While most banks require around 20 percent deposit upfront for owner-occupiers and higher for investors, the promotion for Parq, first announced in November 2016, asked for just a 10 percent deposit.
First home buyers could pay their deposit in instalments of 2 percent every six months, while other buyers needed to pay the balance 8 percent by July 2017, said the promotion.
For years, the development site at the intersection of Keira, Flinders and Campbell Streets remained mired in controversy.
It was once flagged for the corruption-laden "Quattro" development, which featured prominently in the city’s infamous sex for development scandal, according to the Illawarra Mercury.
In 2008, an inquiry found that developer Frank Vellar had engaged in corrupt conduct by engineering the approval of the Quattro development with his lover, Beth Morgan.
The council bought the site for $5.2 million in 2011, with plans to clean it up and use it as a temporary parking space.
It then called for expressions of interest from developers, and a year later the Gateway consortium, then working with developer Jan Lindrum, lodged a $135 million proposal named “Bass and Flinders Gateway”. 
But they failed to convince the Joint Regional Planning Panel the first time around and only got a recommendation from the Wollongong City Council after substantial modifications.
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