Buoyed by positive news on interest rate cuts and a surge in rental prices over recent years, investors are gradually re-entering the residential property market in Sydney.

The December quarter data from the ABS revealed that New South Wales led the growth in investor loans throughout 2024, marking a near 30 percent increase compared to 2023. Importantly, this surge occurred even before the February rate cut and growing economic commentary predicting up to four additional cuts in 2025.

The official cash rate currently sits at 4.1 percent, but most major banks forecast it will fall to 3.1 percent by year’s end.

Developers are now preparing for a renewed wave of investor activity. Since the Reserve Bank of Australia began aggressively increasing rates — coupled with significant price growth in Sydney over recent years — many investors have struggled to make the numbers work. However, improving conditions are shifting that sentiment.

Investors typically seek two key features in residential property: scarcity and a prime location. If these two boxes are ticked, then a strong rental yield and strong capital growth will likely follow. These criteria explain the rising investor interest in Capital Corporation’s <a href="https://www.urban.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">Wahroonga Estate</a>, located in Sydney’s leafy Upper North Shore.

[smartcode_project:default project_id=135247 project_image_fid=262185]

A major drawcard is the limited supply of apartments in the area. According to the latest Census, of Wahroonga’s 4,600 dwellings, fewer than 20 percent are apartments. Most existing stock is more than a decade old, and aside from the future stages of Wahroonga Estate, there’s minimal new supply in the pipeline — which will likely support long-term demand and value growth.

Wahroonga Estate is ideally positioned near major infrastructure, including the Sydney Adventist Hospital — NSW’s largest private hospital — located right next door. Within a five-kilometre radius, residents have access to four of the Upper North Shore’s most prestigious schools: Knox Grammar, Barker College, Pymble Ladies’ College, and Abbotsleigh, which only further strengthens rental appeal and price growth for investors.

[smartcode_project:default project_id=135247 project_image_fid=262183]

Wahroonga also satisfies two other key investor metrics: low vacancy and solid rental yields. According to SQM Research, the region’s vacancy rate sits at just 1.3 percent, while the gross rental yield for units is 4.2 percent — outperforming the Lower North Shore at 3.8 percent.

The first stage of Wahroonga Estate, The Residences, will feature 128 one-, two-, three-, and four-bedroom apartments across three mid-rise buildings. The development targets owner-occupiers — a demographic that also appeals to investors, as it aligns with the profile of their likely tenants.

[smartcode_project:default project_id=135247 project_image_fid=284380]

Notably, The Residences avoids costly amenities, helping to keep strata fees relatively low compared to developments with extensive facilities like rooftop pools. The development will still provide significant amenity, more geared around the natural surrounds. There will be over 8,000 sqm of private landscaped gardens, a pet-friendly green spine, a BBQ pavilion, a dog wash bay, and a residents’ lounge equipped with a boardroom-style meeting space and kitchenette.

While most early interest in the apartments has come from downsizers within the Upper and Lower North Shore, <a href="https://www.urban.com.au/developers/capital-corporation">Capital Corporation</a> has recently seen increased activity from investors.

According to Jim Hunter, Director at Capital Corporation, the uptick is driven by two key factors: the declining interest rate environment and the strong quality and appeal of The Residences at Wahroonga Estate.

[smartcode_project:default project_id=135247 project_image_fid=262186]

“There’s nothing on the horizon for Wahroonga that compares to Wahroonga Estate,” Hunter says. “We’re expecting investors will benefit from both strong yields and long-term capital growth, and demand from the rental market when the first stage is ready for occupancy.”

Construction of The Residences is expected to begin later this year, with completion anticipated by mid-2027.

[smartcode_project_cta:default project_id=135247]

&nbsp;

Joel Robinson

Investors spurred by rate cuts look to The Residences at Wahroonga Estate

Joint venture partnerships have become an increasingly popular and effective model for new apartment developments, offering a win-win scenario for landowners, developers, and investors. In the rapidly evolving real estate market, particularly in cities like Sydney, these collaborations combine land, capital, and expertise to bring ambitious projects to life.

For developers like <a href="https://www.urban.com.au/developers/capital-corporation">Capital Corporation</a>, joint ventures are at the core of their business strategy.

“We&nbsp;have been working with landowners as a joint venture partner for over three decades,” says Jim Hunter, Director of Capital Corporation. “With that comes expertise and experience,&nbsp;partnering&nbsp;with landowners to help maximize their value and returns.”

Capital Corporation's long-standing partnerships in Sydney have transformed several high-profile projects, including the redevelopment of the Woolooware Bay Town Centre&nbsp;which surrounds&nbsp;Cronulla Shark’s Shark Park,&nbsp;the Kogarah Clubhouse,&nbsp;and the luxury apartment development at Bondi Junction, in partnership with the Bondi Junction&nbsp;RSL.

“We look at our partners' land holdings, assess the opportunity, and add substantial value. Whether it’s building new or redeveloping what’s already there, we always unlock the value for our partners,” says Hunter.

In this article, we explore the intricacies of a joint venture partnership, why it makes sense for landowners to collaborate with a developer like Capital Corporation, and how such partnerships differ from traditional land sale agreements.

<h2>How does a joint venture partnership work for landowners?</h2>

In a joint venture with Capital Corporation, the landowner’s sole contribution is the land itself. Once a&nbsp;project&nbsp;is agreed upon, Capital Corporation handles everything, from the planning and design phases to&nbsp;funding, construction, and completion.

“Once we’ve agreed in principle on a joint venture with the landowner, we manage and fund everything from there on in,” explains Hunter.

“The landowner gets to retain ownership of the land while we do what we do best - create successful communities for people to live in. At the end of the development, the landowner receives higher returns compared to a simple land sale.”

<h2>What are the benefits for landowners to undertake a joint venture?</h2>

The traditional development process usually involves a developer purchasing land outright from the landowner, who then receives a lump sum payment and has no further involvement in the project. This model works well for landowners who are eager to sell and receive immediate financial compensation.

However, for landowners&nbsp;who are vested in the long-term interest of their land&nbsp;and&nbsp;want to have a larger return&nbsp;and benefit from the development, a joint venture could be a better option.

“A joint venture provides more flexibility than the traditional model,” says Hunter. “In some cases, the landowner may choose to retain part of the new development, as was the case with the Bondi Junction RSL redevelopment. We transformed the old RSL club on the ground floor and built 80 luxury apartments above, some of which were retained by the&nbsp;club.&nbsp;We also built, and secured a tenant for, a commercial stratum that now returns a steady rental income stream for the Club.”

<h2>Why Capital Corporation is a trusted partner for landowners</h2>

Capital Corporation has been focused exclusively on joint ventures for over three decades, delivering more than&nbsp;$6 billion&nbsp;worth of new developments across Sydney. Their track record includes redeveloping some of Sydney’s most well-known areas into vibrant residential communities.

“We’ve created partnerships on both large and medium-scale projects where landowners have sought different outcomes,” says Hunter.

“Our project in&nbsp;Wahroonga,&nbsp;on the Upper North Shore involves&nbsp;a partnership with the&nbsp;Australasian Conference Association Ltd which holds a large parcel of land, Wahroonga Estate. They sought a joint venture to develop their land into something that would enhance the community and amenity on Wahroonga Estate.”

[smartcode_project:default project_id=135247 project_image_fid=284378]

The Wahroonga&nbsp;Estate&nbsp;project is a prime example of how Capital Corporation works with landowners to create thriving communities. The first stage, The Residences at Wahroonga Estate, will feature apartments across three&nbsp;mid-rise buildings with private, canopy views over the Upper North Shore.

Hunter says that while Capital Corporation’s role is to handle all aspects of the development, from concept to completion, they understand the critical importance of the&nbsp;landowner&nbsp;in the process.

“Without the landowner, there is no development,” says Hunter. “The landowner is crucial to the success of the project, so we always split all returns generated from the development with our landowners equally”

<h2>Capital Corporation’s commitment to housing supply in Australia</h2>

As demand for housing continues to rise, especially in and around Sydney, Capital Corporation remains committed to identifying new joint venture opportunities with landowners.

“The supply of land, particularly in and around Sydney, is becoming tighter,” says Hunter. “But we believe that by working together with landowners, we can help unlock more housing for Australians.”

The power of partnerships: How joint ventures with developers benefit landowners

North Shore developer Hyecorp has revealed its next apartment development in the Upper North Shore.

They’re planning 259 apartments in Roseville, around 600m from one of their current projects, <a href="https://www.urban.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville">Juliet</a>, which recently commenced construction.

The new development, on a large 9,370 sqm block bordering Lord Street and Roseville Avenue, has been designed by FK, who said in the planning documentation that the project "offers a unique opportunity to create a new residential offering in the desirable suburb of Roseville, with its own unique expression."

"The project vision calls for the integration of landscape features and sensitive architecture, a variety of boutique apartments and high-quality communal amenities that foster a village feel in a predominantly single dwelling neighbourhood," the State Significant Development Application read.

"Our vision for this project is for a site-responsive building, one that integrates familiar materiality from neighbouring sites and utilises multiple facade strategies to establish character. It is inextricably connected by a networked ground plane of gardens and linked walkways."

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="fbabd83f-56f7-4bbc-9e85-9abebe6e5db2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-05-13%20at%209.37.27%E2%80%AFAM.png?VersionId=q8E.d63RynPbwlEyizCh2edMv5EVKuir" />

Of the 259 apartments, 117 are two-bedrooms (45 percent), 104 are three-bedrooms (40 percent), with 28 one-bedroom units and 10 four-bedrooms.

Also planned for the nine-level building is a wellness centre with a 15-metre swimming pool and gym, a kids club, cinema space, games rooms, and a residents' lounge.

FK said that, in order to respect the tree-lined character of Roseville Avenue, Lord Street and Martin Lane, they have elected to retain as many significant trees as possible on the site.

"This has led to the creation of a setback in the Roseville Avenue facade, which will be dedicated for resident and community use, adding to the series of pocket parks found within the immediate area."

A connection to Lord Street creates a large central courtyard, which will provide a dedicated space for residents to sit beneath a large Blue Gum tree, to be retained on site.

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="e318a28b-2398-4c08-9772-b3288df80cf4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-05-13%20at%209.37.19%E2%80%AFAM.png?VersionId=CxXL0v2UPUC26nI0E.LyNt6iMtlH39JN" />

<a href="https://www.urban.com.au/developers/hyecorp-property-group">Hyecorp</a>&nbsp;has been developing across Sydney's North Shore region since the early 1990s.

They are approaching completion of their St Leonards apartment project, <a href="https://www.urban.com.au/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards">Audrey</a>, opposite Newlands Park, which will wrap up construction later this year.

Their current Roseville development, Juliet, will comprise 37 apartments when it is completed in mid-2026.

The Pacific Highway development is one of the most connected ever produced in Roseville, a redevelopment of the Roseville RSL Club across the road from Roseville Station.

Hyecorp plots latest Upper North Shore apartment development

Sydney property prices are surging once again.

After a relatively flat market in 2024, which concluded with some softening months before positive economic data regarding inflation and the handing down of what is forecasted to be the first of several rate cuts in 2025, prices in Australia's most expensive capital city are back on the rise.

&nbsp;

Inner city apartments aren't getting more affordable any time soon. We've wrapped up the top five newest apartment developments in some of Sydney's most central suburbs that cost under $1 million.

<h2>What: Danks St District, Waterloo</h2>

<h3>Where:&nbsp;903-921 Bourke Street, Waterloo NSW 2017</h3>

<h3>Who: DASCO</h3>

<a href="https://www.urban.com.au/developers/dasco-australia">DASCO</a>’s game-changing new <a href="https://www.urban.com.au/developments/waterloo-nsw-2017">Waterloo</a> precinct,&nbsp;<a href="https://www.urban.com.au/new-apartments/danks-st-district-waterloo-903-921-bourke-street-waterloo-nsw-2017">Danks St District</a>, has its entry-level apartments come in at $965,000.

Bourke Street Residences is the first release of the new neighbourhood that will see six new residential buildings delivered, as well as the restoration of two heritage-listed structures.

There are one-, two-, and three-bedroom apartments on offer at Bourke Street Residences, which will also have private amenities including a rooftop garden and outdoor gym.

[smartcode_project:default project_id=111820 project_image_fid=344699]

Designed by a mix of architecture firms, including <a href="https://www.urban.com.au/architects/mhn-design-union">MHNDU</a> and <a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a>, the buildings feature a mix of brick and contemporary design elements that reference the industrial history of the area.

Danks St District is located near Redfern, Green Square, and Surry Hills, and benefits from proximity to parks, dining options, and public transport.

Key features:

<ul>
	<li data-list-indent="1" data-list-type="bulleted">
	DASCO is one of Sydney's most respected builder-developers
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	Insured with Resilience Insurance's 10-year Latent Defects Insurance
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	Within walking distance of key inner-city precincts
	</li>
</ul>

<h2>What: The Kensington, Kensington</h2>

<h3>Where:&nbsp;147-151 Anzac Parade, Kensington NSW 2033</h3>

<h3>Who: TOGA</h3>

Another one of Sydney's most renowned builder-developers, TOGA, is offering apartments not quite under, but just over, the $1 million threshold.

It was worth noting however because The Kensington is one of TOGA's most connected new developments, on the doorstep of the Kensington Light Rail stop, and the growing Randwick health precinct and main UNSW campus.

[smartcode_project:default project_id=110959 project_image_fid=307651]

<a href="https://www.urban.com.au/new-apartments/the-kensington-147-151-anzac-parade-kensington">The Kensington</a>, currently under construction by DASCO, will comprise&nbsp;142 apartments, including a small number of SOHO (Small Office/Home Office) residences on the ground floor.

&nbsp;

Designed by Turner Studio, the building aims to balance traditional architectural references with contemporary materials.

&nbsp;

[smartcode_project:default project_id=110959 project_image_fid=307646]

The development will feature rooftop and shared communal areas and is located within walking distance of light rail, offering quick access to the CBD and beaches.

Key features:

<ul>
	<li data-list-indent="1" data-list-type="bulleted">
	Part of a long-term urban renewal zone
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	SOHO residences available with private street access
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	Light rail access and future investment in town centre improvements
	</li>
</ul>

<h2>What: Stanton Place, Rosebery</h2>

<h3>Where:&nbsp;5-15 Dunning Avenue, Rosebery NSW 2018</h3>

<h3>Who: Stockland</h3>

<a href="https://www.urban.com.au/new-apartments/stanton-place-rosebery-5-15-dunning-avenue-rosebery-nsw-2018">Stanton Place</a> is part of <a href="https://www.urban.com.au/developers/stockland">Stockland</a>’s return to high-density apartment development. The Rosebery project will include 144 apartments across three buildings, centred around a landscaped courtyard.

<img alt="Stanton" data-entity-type="file" data-entity-uuid="c36ab483-42c7-4b38-9718-6e34bc9277a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-05-13%20at%209.00.01%E2%80%AFAM.png?VersionId=sb7W0YQFqAycVW1VUNMSoWHn5DjF0LDY" />

The development is being designed with sustainability in mind, including EV charging options, solar panels, and rainwater tanks. Located on Dunning Avenue, it’s well connected to cafes, Green Square Station, and local amenities such as The Cannery.

Key features:

<ul>
	<li data-list-indent="1" data-list-type="bulleted">
	New Stockland apartments in an established inner-south location
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	Emphasis on sustainability and green space
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	Walkable access to shops, transport, and parkland
	</li>
</ul>

<h2>What: The Rothschild, Rosebery</h2>

<h3>Where:&nbsp;24 Rothschild Avenue, Rosebery NSW 2018</h3>

<h3>Who: Deicorp</h3>

Builder-developer Deicorp recently completed&nbsp;<a href="https://www.urban.com.au/buildings/the-rothschild-rosebery-24-rothschild-avenue-rosebery">The Rothschild</a>, also in&nbsp;<a href="https://www.urban.com.au/developments/rosebery-nsw-2018">Rosebery</a>, and has one-bed one-bath apartments, including those with a car space, under $1 million.

The building’s design, by <a href="https://www.urban.com.au/architects/candalepas-associates">Candalepas &amp; Associates</a>, incorporates European-inspired elements and sits within a quieter pocket of the inner south.

[smartcode_project:default project_id=106843 project_image_fid=221665]

The location offers good access to transport, parks, and established retail precincts, making it a practical choice for those seeking an inner-city home without a construction wait.

Key features:

<ul>
	<li data-list-indent="1" data-list-type="bulleted">
	Completed apartments with immediate move-in
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	Designed by award-winning architects
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	Close to key employment, retail, and transport hubs
	</li>
</ul>

What $1 million can buy you in Sydney's new and off the plan apartment market

Sydney’s harbourside suburbs have undergone rapid regeneration over the past five years

New developments are lining the harbour and the surrounding streets.

Pyrmont, one of Sydney’s most central harbourside suburbs, has been somewhat left behind in the new apartment development scene.

The suburb—just a bridge and waterway away from Darling Harbour and the heart of the Sydney CBD—hasn’t seen a new apartment development since the completion of Paragon of Pyrmont in 2021. That project primarily featured three- and four-bedroom apartments and luxury terraces.

<h2 data-end="896" data-start="862">Apartment Demand Remains Strong</h2>

Given that over 90 per cent of Pyrmont residents live in apartments, there’s a clear appetite for apartment living in the area.

A key reason for the lack of new development has been land scarcity. Pyrmont is a relatively small suburb compared to others along the harbour’s edge, leaving developers with few opportunities.

<h2 data-end="1255" data-start="1222">A Rare Development Opportunity</h2>

So when the chance to secure a large site in Pyrmont arose, developer Landream—known for Opera Residences at Circular Quay—acted quickly.

They acquired a 1.2-hectare block on Wattle Street from the City of Sydney in 2019, the same year the NSW Government announced the new $750 million Sydney Fish Market, just 300 metres from the development site.

After several years of planning to ensure the right fit for the prime site, Landream has now unveiled <a href="https://www.urban.com.au/new-apartments/pyrmont-place-14-26-wattle-street-pyrmont-nsw-2009">Pyrmont Place</a>: five buildings with 267 apartments, a swimming pool, a state-of-the-art gym, a commercial office tower, childcare facilities, and recreational centres.

[smartcode_project:default project_id=138909 project_image_fid=337669]

<h2 data-end="1929" data-start="1880">Perfectly Positioned on the Edge of the Action</h2>

While located next to the landmark Fish Market, Pyrmont Place sits on the very western edge of Pyrmont, bordering Ultimo—home of Broadway Shopping Centre—and Glebe, one of Sydney’s liveliest inner-west hubs for dining.

Pyrmont has a Walk Score of 92. (Suburbs scoring between 70 and 89 are considered “very walkable.”)

[smartcode_project:default project_id=138909 project_image_fid=337677]

<h2 data-end="2298" data-start="2252">Sydney’s Next Landmark: The New Fish Market</h2>

The closest major attraction is the new Fish Market, set to open sometime this year. It has been described as the most significant waterfront building in Sydney since the Opera House and will include a Southeast Asian diner by Luke Nguyen, along with a range of restaurants, retail outlets, seafood vendors, delis, wine merchants, and bakeries.

Wentworth Park, a multipurpose green space with sports fields and the Wentworth Park Greyhound Track, sits just across the road—ensuring unobstructed views due to the lack of developable space.

[smartcode_project:default project_id=138909 project_image_fid=330851]

<h2 data-end="2877" data-start="2841">A Connected Harbourside Lifestyle</h2>

A new Blackwattle Bay promenade will create a 15-kilometre continuous foreshore walk connecting Rozelle Bay to Woolloomooloo. Meanwhile, Pirrama Park, located toward the northern end of Pyrmont and just a 15-minute walk away, offers BBQ facilities, playgrounds, and views of the Sydney Harbour Bridge.

[smartcode_project:default project_id=138909 project_image_fid=330854]

Pyrmont’s well-established and popular dining scene includes renowned venues such as Sokyo, BLACK Bar &amp; Grill, and LuMi Dining—all within walking distance of Pyrmont Place and The Star casino, which sits on the edge of Darling Harbour and offers even more dining options.

<h2 data-end="3486" data-start="3455">Walk, Ride, or Ride the Rails</h2>

Those commuting from Pyrmont Place can enjoy a manageable 20-minute walk across Pyrmont Bridge into the CBD. The area is also bicycle-friendly, including the bridge itself.

[smartcode_project:default project_id=138909 project_image_fid=330856]

Pyrmont features its own light rail stop, connecting to Central Station and Dulwich Hill in the inner west. By 2030, it will also be connected to the expanded Sydney Metro line via a new station between Pyrmont Bridge Road and Union Street.

<h2 data-end="3934" data-start="3904">A One-of-a-Kind Opportunity</h2>

Given the scarcity of land in and around Pyrmont, Pyrmont Place is a rare offering that may not be replicated for many years to come.

Construction is expected to start later this year, with a stage completion in 2028.

[smartcode_project_cta:default project_id=138909]

Given the scarcity of land in and around Pyrmont, Pyrmont Place is a rare offering that may not be replicated for many years to come

New home sales staging a recovery: Pete Wargent

Pete Wargent

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