Tanya Steinbeck’s Post

Following on from the success of Cirque Apartments in Mt Pleasant, it was a beautiful afternoon yesterday to celebrate the topping out of Cirque's twin - Cirque Duet by ERBEN. Built by Icon and designed by MJA Studio, it was a reminder of the stringent quality control and high quality of #construction that is delivered in Perth that will provide a beautiful home in a high density context for its residents in early 2025. Congratulations to Luke Reinecke and the ERBEN team for bringing this visionary project to fruition in challenging market conditions. It is another welcome addition to the infill story for our city and for the Canning Bridge Precinct. You can find out more about the project here: https://lnkd.in/dV65j6zV #apartments #apartmentliving #highdensity #infill #urbandevelopment

If I had a dollar for every time I spoke about the importance of ensuring an adequate development ready pipeline of #landsupply I would have more money than Clive Palmer. This chart from the Urban Development Institute of Australia (WA) Urban Development Index report for the March Quarter says it all. In the March Quarter, there were 3,440 lots sold in Greater Perth, the highest number of lots sold in a quarter since the Building Bonus days of mid-2020. The big difference now being interest rates are significantly higher and there is no more stimulus driving a spike in demand. Sustained elevated levels of demand have resulted in only 675 lots remaining on the market at the end of March, 68% less than 12 months ago and on par with 2006 lows. Not surprisingly, this lack of supply is driving significant increases in land prices as developers continue to be constrained by delays in #infrastructure provision and limited #construction sector capacity. Whilst we expect lot sales to moderate slightly this financial year, it is anticipated to be due to supply constraints rather than any real drop off in demand. What a relief we only have a shortfall in WA of 30,000 homes over the next 5 years to get out of the ground between infill, apartments and land (insert sarcasm emoji here). A big thanks to our UDI Research Partners Landgate, Urbis and CoreLogic and to our amazing research team Toby Adams and Renan Telles Cardoso for shining the light on the facts. #housingsupply #urbandevelopment #landdevelopment #housingaffordability

I'm excited to be joining the Bankwest Curtin Economics Centre (BCEC) Advisory Board, chaired by Timothy Marney and led by Alan Duncan. The establishment of the Centre has been made possible through significant investment from Bankwest and Curtin University that provides BCEC with a unique opportunity to position itself as a nationally competitive research centre. I look forward to contributing to the research agenda to provide meaningful insights and advice on critical local and national social and economic policy debates.

It is always rewarding to walk through one of Urban Development Institute of Australia (WA)'s member projects and see a vision realised, often despite considerable challenges along the way. On Friday, our team had the pleasure of joining Luke Parker from OP Properties Pty Ltd to walk through the recently completed Montreal Commons development in #Fremantle. Designed by Hillam Architects and built by Northerly, this carbon neutral project adds desperately needed #apartments to the Perth market with a fantastic cafe/bar that was packed with locals on a Friday afternoon. Congratulations to Luke Parker, Nic Osboine, Evan Campbell, David Hillam and Michael Lawson on delivering a project to be proud of. #infill #apartmentdevelopment #urbandevelopment #sustainability

Today I had the pleasure of sharing the Urban Development Institute of Australia (WA) corporate strategy and #governance approach along with my approach to #leadership, #culture and the challenges facing senior executives operating in a high performance environment with a wonderful group of visitors from Johor, Malaysia. The senior executives are undertaking the High Performers Leadership Program with the Australian Institute of Management and were an enthusiastic and inquisitive group as we talked about some of the key issues in #urbandevelopment and #housingsupply in an Australian context. They now know what a NIMBY and a BANANA is in Australia, something that is not an issue in Johor. The language of leadership however is universal and it was great to share our Aussie insights with these delightful visitors. I even got a round of applause when sharing our Great Place To Work® certification and an invitation to visit Malaysia sometime soon.

A glimmer of hope for the feasibility of apartment projects this morning with news from Cath Hart at REIWA that the median unit sale price improved strongly over the March 2024 quarter, recording 3.4 per cent growth to reach $425,000, up 6.3 per cent compared to March 2023. Units grew 2.8 per cent during the December quarter and 1.5 per cent over 2023, but the median price remains below the record of $450,000 set in 2014. It may go some way towards closing the feasibility gap for desperately needed apartment projects, however if we are to seriously speed up the delivery of #housingsupply to market, there is more we can do. It was great to chat with the The Australian Financial Review about the challenges in the Perth market for getting more apartment projects out of the ground, along with Urban Development Institute of Australia (WA) President Richard Pappas. #apartmentdevelopment #urbandevelopment #realestateperth

As the sun rises tomorrow morning and the sound of the bugle is heard throughout our suburbs, we remember the sacrifice and legacy left by those who defended our freedom. My grandfather fought in World War II, my grandmother a member of the Rats of Tobruk before they migrated to Australia with my four year old father in 1958 where they called a State Housing Commission property in Nedlands home. They then bought what would be their forever home in Butler Street, Willagee for $36,000. Their great Australian dream was a small fibro house on 800sqm with a huge workshop in the backyard where we would tinker with old cars as kids. The large flame tree that took centre stage in the front yard remains standing and my memories of swinging on their branches are still vivid today. No internet. No mobile phones. No social media. Not a care in the world. That same property in Willagee is now surrounded by triplex and quadruplex development. The suburb now has a median house price of $751,000. No workshops. No flame trees in the front yards. My father kicks himself for selling his parents dream home for just $115,000 when they passed. My son now goes to the same high school his grandfather did. So we debate what the great Australian dream needs to look like today, in a social, economic and environmentally different world that is light years away from where we were back then. Perhaps it is less about the bricks and mortar, and more about the loss of connection & engagement with our environment and each other. As an industry we play such a significant role in curating the conditions for which we connect & engage on this level. Whilst everyone needs a place to call home, it is only a shell unless we fill it with feeling. It’s not the flame tree or the workshop out the back that I miss. It’s the time with my grandparents that I will never get back. At the going down of the sun, and in the morning, we will remember them. Lest we forget. Image: My sister and I with my grandparents. I am the taller one, which is no longer the case.

It was all happening in sunny Canberra today. Ongoing consultation on the Federal Government’s Nature Positive Reform, meeting with the Department of Infrastructure, Transport, Regional Development, Communications and the Arts with the announcement of the Housing Support Program. Last and most certainly not least, gathering as Team WA at the official opening of the WA Canberra Hub. Great to see our Premier Roger Cook with Reece Whitby, David Michael and Hannah Beazley MLA flying the flag and cementing a place for collaboration and advocacy for the people of WA.

There were many highlights from this year's UDIA National Congress and UDIA National Awards for Excellence Gala Dinner last week in Melbourne. Not only did Urban Development Institute of Australia (WA) members walk away with four category wins in the National Awards - we took out the big prize - National Project of the Year. I can't think of a project more deserving this year to take out the ultimate prize than Witchcliffe Ecovillage. You've got to walk the streets, see the homes, talk to the residents and see the result of years of blood, sweat and tears invested into this project by Mike & Michelle Hulme at Sustainable Settlements, Jeff Thierfelder and Jo Thierfelder backed by Stan Perron, Lyle Kenny and the team at Perron Developments. It truly is world-class #sustainabledevelopment right here in Western Australia. And I couldn't be more proud. Image: Winners are grinners. Lyle Kenny, Perron Developments ably assisted by myself and Tiffany Allen. #udiawa #urbandevelopment #residentialdevelopment #housingsupply

One of the top priorities for the Urban Development Institute of Australia (WA) over the last 18 months has been addressing challenges our members are experiencing in the timely provision of #power #infrastructure. The outcomes UDIA WA has sought include greater collaboration, transparency, enhanced efficiencies, reduced non-conformance rates and that there is a shared understanding of the challenge. By working together with the team at Western Power, with the support of Reece Whitby and Roger Cook, the hard work is starting to show some real results. Not just quick wins, but sustainable process improvements that will benefit the #development industry in the long term. I know that there has been a huge team working on this, however I wanted to particularly shout out to some key contributors who have worked tirelessly, under enormous pressure to make sustainable change. To Ryan Hunter AFAIM, Chair of our Infrastructure Committee and the committee members. The time and expertise Ryan has volunteered has been outstanding. To the full team at Western Power, with particular thanks to Sam Barbaro, Zane Christmas, Anthony Whiteaker, Tim Cox, David Carter and Mitchell Dirksz. The shift in cultural approach to tackling the challenges is significant and very much welcomed by industry. The changes are an adjustment and we will continue to work together to ensure #housingsupply is prioritised and the 'new normal' is sustainable into the future.