# Planning reform and scarcity drive NSW property investment demand

- **Source:** Real Estate Asia
- **Published:** 2026-07-06T22:46:52.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/commercial-other/news/planning-reform-and-scarcity-drive-nsw-property-investment-demand
- **Topics:** Government & Policy, Transactions & Deals, Investment & Capital Markets

## Featured rationale

Investors’ focus on planning certainty, reliable income and underlying land value may support well-prepared development sites, apartment blocks and diversified mixed-use assets.

## AI summary

NSW investment sales strengthened in H1 2026 as planning reforms, stabilised pricing and asset scarcity redirected capital toward development opportunities and defensive properties.

## Original article

Sydney development sites and defensive assets lead NSW investor activity.

The New South Wales investment sales market recorded a solid first half of 2026, supported by improving buyer confidence, stabilising pricing expectations and renewed capital deployment across both development and income-producing assets, according to Cushman & Wakefield.

The consultancy said transaction activity was underpinned by shifting policy settings, evolving capital allocation strategies and stronger demand for assets offering either development potential or defensive income characteristics.

Matt Pontey, National Director & Co-Head of Investment Sales NSW at Cushman & Wakefield, said the Federal Government’s changes to negative gearing have contributed to a reassessment of residential versus commercial investment strategies, with capital increasingly redirected toward commercial property and development opportunities.

He added that the repricing cycle has largely stabilised, improving buyer confidence and supporting deployment across Sydney’s metropolitan markets, while NSW planning reforms are significantly reshaping how development sites are valued.

“Development potential is now driving value rather than existing use,” Pontey said, highlighting strong demand for tightly held sites across the Eastern Suburbs and inner metropolitan corridor.

Miron Solomons, National Director & Co-Head of Investment Sales NSW at Cushman & Wakefield, said scarcity remains the defining feature of the Eastern Suburbs market, supported by wealth, lifestyle demand and limited supply of quality sites. He noted growing activity in strata amalgamation transactions in precincts such as Double Bay, Bondi Junction, Paddington and Randwick, where redevelopment opportunities require coordination between multiple owners.

In the development site segment, Jake Smith, Manager, Investment Sales NSW at Cushman & Wakefield, said buyers are becoming more selective and disciplined, with greater focus on planning certainty, feasibility and delivery risk. He added that successful campaigns are increasingly defined by strong preparation, clear planning pathways and credible development narratives rather than passive marketing.

Meanwhile, in the multi-tenanted and apartment block sector, Henry Robertson, Executive, Investment Sales NSW at Cushman & Wakefield, said investors are increasingly targeting reliable income-producing assets, particularly residential blocks of units, due to diversified income streams and strong underlying residential fundamentals.

He added that demand for defensive assets has strengthened as capital shifts away from higher-risk sectors, with well-located, well-connected commercial precincts continuing to deliver rental resilience and capital growth.

Ariel Balkin, Sales Analyst, Investment Sales NSW at Cushman & Wakefield, said investor appetite is broadening across asset classes, with growing interest in mixed-use and shop-top properties that provide income diversity and long-term value creation potential.

She said investors are taking a more strategic approach to capital allocation, balancing immediate income, rental growth potential and underlying land value, while residential demand remains strong alongside increasing diversification into commercial real estate.

## Chinese translation

> Translation model: grok

### 规划改革与供应稀缺推动新州物业投资需求

2026年上半年，新南威尔士州投资销售市场表现稳健，获买家信心改善、定价预期企稳及资本重新部署支撑

悉尼开发用地与防御性资产领跑新州投资者活动。

据Cushman & Wakefield，2026年上半年新南威尔士州投资销售市场表现稳健，获买家信心改善、定价预期企稳，以及开发与收益型资产两端资本重新部署支撑。

该咨询机构表示，成交活动由政策环境变化、资本配置策略演进，以及对具备开发潜力或防御性收益特征资产的更强需求所支撑。

Cushman & Wakefield新州投资销售全国董事兼联席主管Matt Pontey表示，联邦政府对负扣税（negative gearing）的调整，促使市场重新评估住宅与商业投资策略，资本日益转向商业物业与开发机会。

他补充说，重新定价周期已大体企稳，提升买家信心，并支撑悉尼都会区资本部署；同时新州规划改革正显著重塑开发用地的估值方式。

Pontey称：“推动价值的是开发潜力，而非现有用途。”他强调东郊与内都会走廊上供应紧张地块需求强劲。

Cushman & Wakefield新州投资销售全国董事兼联席主管Miron Solomons表示，稀缺仍是东郊市场的决定性特征，受财富、生活方式需求与优质地块有限供应支撑。他指出，在Double Bay、Bondi Junction、Paddington与Randwick等片区，分层产权合并交易活动增加，因重建机会需协调多名业主。

在开发用地板块，Cushman & Wakefield新州投资销售经理Jake Smith表示，买家正变得更具选择性与纪律性，更关注规划确定性、可行性与交付风险。他补充称，成功推售日益取决于充分准备、清晰规划路径与可信开发叙事，而非被动营销。

与此同时，在多租户与公寓楼板块，Cushman & Wakefield新州投资销售执行员Henry Robertson表示，投资者日益锁定可靠收益型资产，尤其是住宅单位楼块，因其收入来源多元、底层住宅基本面强劲。

他补充说，随着资本从更高风险板块撤出，防御性资产需求增强；区位佳、连通性好的商业片区继续提供租金韧性与资本增值。

Cushman & Wakefield新州投资销售分析师Ariel Balkin表示，投资者胃口正跨资产类别扩大，对混合用途与店屋上居物业兴趣上升，这类资产可提供收入多样性与长期价值创造潜力。

她称，投资者对资本配置采取更战略性的做法，平衡即期收入、租金增长潜力与底层土地价值；住宅需求保持强劲的同时，向商业房地产的多元化亦在增加。