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The recent share market turmoil strangely did not weaken the weekend's auction success rate.
Indeed, Sydney’s clearance rate was 60.5%, compared with 54.3% last weekend and almost par with the 64.2% for the same weekend last year. Melbourne’s clearance rate was 57% compared with 54% last weekend and 67% last year.
SQM Research property analyst Louis Christopher says the weekend clearance rates were surprisingly strong in both capitals.
There were 299 properties offered for auction across Sydney compared with 261 last weekend and 372 on the same weekend last year.
Of the 214 reported auctions, 144 properties were sold for a total value of $116.4 million at an average value of $800,000.
The median price of houses sold was $855,000 and for units it was $685,000, according to Dr Andrew Wilson, the senior economist for Australian Property Monitors.
“There are indications that Sydney's housing market is still subdued but stable, with just a hint of growing confidence,” Wilson says.
With 51 results yet to be tabulated there where 431 auctions reported in Melbourne. Of the 187 passed in, 123 of those were on a vendor’s bid.
“Those looking to sell their home over spring will be hoping that speculation of an interest rate cut last week becomes a reality as it would boost buyer confidence just at the right time,” Real Estate Institute of Victoria chief executive Enzo Raimondo says.
Next weekend the REIV expects around 490 auctions. And Clinton McNabb at Australian Property Monitors expects 303 properties to go to auction in Sydney next weekend.
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The most expensive house sold across Australia was a $6,725,000 Gold Coast riverfront auction.
Dan McVay’s Admiralty Drive property in Paradise Waters went under the hammer. McVay paid $5 million for the property in 2006.
It was on the market at $5.85 million and sold well above its reserve through Michael Willems at Ray White. It’s a five-bedroom, seven-bathroom house on a 1,351-square-metre block. The house also comes with an office and six-car garage. There is a 12-metre enclosed swimming pool.
 
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Melbourne’s highest reported sale was a <a target="_blank" title="Trophy home" href="https://www.propertyobserver.com.au/trophy-homes/well-renovated-kew-property-has-a-lot-to-recommend-it/2011081151129">Sackville Street, Kew</a> house. Bidding for this five-bedroom, three-bathroom renovated 1920s property began with a vendor bid of $3.7 million before four bidders joined the bidding, according to James Buyer Advocates. It was announced on the market at $4,175,000 through James Tostevin of Marshall White Armadale.
It was built in the mid-1920s but since extended and renovated. The house last sold for $2.3 million in mid-2004 when bought by mining magnate Tony Manini, the former Oxiana exploration manager. There was a higher undisclosed sale when a Walsh Street, South Yarra house sold after auction for $4.8 million plus. This accords with the trend detected by JPP Buyer Advocate Catherine Cashmore, who senses an increased preference to negotiate after auction for top-end listings. Buyers at the executive top end have become more stubborn about price, especially after the events of last week, Mal James from James Buyer Advocates says.
 
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The most expensive Sydney property sold was a five-bedroom house in Strathfield that last sold at $832,000 in 1998. About $2 million had been expected by its Devine agent Greg Emerton.
 
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Sydney’s cheapest sale was a two-bedroom unit in Wiley Park through Allan Dale Real Estate that last sold for $107,000 in 1993.
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jchancellor-FAypfDUnLy

Weekend auction wrap: where the hammer fell

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Sydney’s auction clearance rate slumped from 63% to 53%, hardly instilling much market confidence. But it’s not as if new low levels are being set; rather, the rate is merely back to the 52% clearance recorded in mid-July. Things could have been far worse in July but for Sydney’s weekend auction volumes being about 20% down on July 2010, and Melbourne’s volumes being down 15%, according to Australian Property Monitors. Last year August was the quietest winter auction month for Sydney and Melbourne, and the preliminary estimates of listings for next four weeks suggest it will happen again in Sydney. For Melbourne there’s’ an average 509 auctions scheduled for upcoming weekends, according to the Real Estate Institute of Victoria, compared with 496 over the previous five years. The Queensland flood-affected properties continue to yield the country’s cheapest sale prices.
Melbourne prestige buyers agent Mal James from James Buyer Advocates says the buyer demand does seem to be there – “for some properties anyway.”
"But there’s no real depth of auction numbers over $1 million, even taking into consideration we are historically in winter hibernation.
“In fact, [that market] has been non-existent in the last few weeks, what with the school holidays, the start of a new fiscal year and the traditional winter lethargy. Our benchmark for a strong auction weekend is 100 million-dollar auctions in bayside and inner-east Melbourne.
“This weekend we saw numbers in the mid 40s; next fortnight we predict around 50 and, the week after, 70 auctions to go under the hammer at $1 millionand above,” James says.
Despite the downturn, agents recommend sellers consider auction this spring. Today's three Observers, LJ Hooker Greenwith principal <a target="_blank" title="Michael Fenn article" href="https://www.propertyobserver.com.au/residential/auctions/auctions-motivate-buyers/2011080150981">Michael Fenn</a>, Raine &amp; Horne chief auctioneer <a target="_blank" title="David Scholes article" href="https://www.propertyobserver.com.au/residential/auctions/auctions-still-the-best-way-to-find-committed-buyers/2011080150980">David Scholes</a> and auctioneer <a target="_blank" title="Damien Cooley article" href="https://www.propertyobserver.com.au/residential/auctions/an-auction-won-t-save-a-badly-marketed-property/2011073150923">Damien Cooley</a>, agree
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Sydney’s weekend clearance rate from the preliminary 293 results compiled by Australian Property Monitors. There were 340 scheduled auctions in Sydney. On the same Saturday last year the clearance rate was 57%. Clinton McNabb at APM says there are about 270 auctions due next weekend. After some further results came in from the July 23 auctions, Sydney recorded a 63.4% clearance rate, just higher than the initial 63% published figure.
 
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Melbourne’s weekend clearance rate from the preliminary 512 results compiled by the Real Estate Institute of Victoria. There were 585 scheduled auctions held in Melbourne. On the same Saturday last year the clearance rate was 69%. REIV chief executive Enzo Raimondo says there are about 500 weekend auctions scheduled over the next few weeks. After some further results came in from the July 23 auctions, Melbourne recorded a 57% clearance rate, slightly lower than the 59% published figure from the initial Saturday results.
 
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The weekend’s highest reported sale in NSW was a three-bedroom<a target="_blank" title="Bronte" href="/news"> Bronte, NSW</a>, bungalow with district views of the Sydney’s eastern suburbs. The Yanko Avenue house on 424 square metres had been listed through McGrath agent Trent Knox. The deceased estate was offered for the first time in six decades. It’s the 12th sale on the avenue to fetch above $2.3 million, the most recent being a three-bedroom house on 557 square metres with ocean views that sold through McGrath in April for about $3.3 million when offered for the first time in over 50 years. In February the hand surgeon Jennifer Green and her husband, Wing Commander Guy Wilson, an RAAF pilot, sold their contemporary four-bedroom, two-bathroom, two-level residence for $3.7 million, having listed it with $3.5 million-plus expectations. Knox issued ninecontracts during the campaign. There were four registrations of which three people bid. The reserve was $2.2 million
 
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<a target="_blank" title="Albert Park" href="/news">Albert Park </a>continued its regular placement as Melbourne’s weekend auction hotspot. It was a Hocking Stuart listing that had been tipped to fetch between $2 million and $2.2 million. It was a renovated Barrett Street house set behind a single-fronted Victorian façade. Buyers' agent Mal James reported there were no bidders at the auction, but it was sold after auction.
 
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The five-room <a target="_self" title="Plenty Road, Bundoora" href="https://www.propertyobserver.com.au/residential/auctions/friday-form-guide-yields-of-up-to-7.4-in-bundoora/2011072850938">Bundoora, Victoria townhouse</a> currently leased to tenants at $555 per week was sold by Ray White Bundoora agent Joshua Allison. It had been listed with price hopes of $390,000 plus. The sale price reflects a 7.1% yield, well above the indicative rental yield for <a target="_blank" title="Bundoora" href="/news">Bundoora </a>houses of 3.7%, according to RP Data. The three-bedroom, three-bathroom house is between RMIT and La Trobe University.
 
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The photographer Hugh Stewart didn’t get to sell his Bondi Beach home, which had been listed through goodyerDonnelley agent Alexander Phillips, who had pre-auction expectations of about $1.6 million. Offers over $1,375,000 are now being sought. Set on a level block in a tightly held cul-de-sac, the property is two minutes' walk from the southern end of the beach. Stewart shot the Chanel No.5 advertising campaign featuring Nicole Kidman. It cost $406,000 in 1997.
 
 
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There was a buzz when a Montclair Avenue, <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="/news" title="Brighton" target="_blank">Brighton </a>house sold through Peter Kennett at Hocking Stuart for $1.82 million. The well-located property attracted nine bidders frantically vying to buy after the $1.5 million opening bid. The property was on the market at $1.62 million, David James at James Buyer Advocates says.
 
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A four-bedroom house at Patrick Estate was the weekend’s cheapest sale. Set in Queensland’s south east, the 1.7-hectare property was flood-affected earlier this year. “Prior to the floods this was an immaculate family home and now needs moving and raising to minimise any future flooding,” Brett Barry, the Ray White Lowood agent, says. “My owners can’t afford to re-build and are totally traumatizsd. They just want to sell the thing and move on.” It last sold at $165,000 in 2002.
 
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Adelaide’s cheapest weekend sale was a three-bedroom brick residence on 659 square metres at <a target="_blank" title="Modbury" href="/news">Modbury North</a>,which had been listed with $260,000 hopes through LJ Hooker Hope Valley agent Vincent Davies.
 
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Author Christine Armarego and medico Adam Fraser, who co-authored Sugar Daddy (a book about diabetes and a healthy lifestyle), sold their double-fronted Federation house <a target="_blank" title="Leichhardt" href="/news">Leichhardt </a>in Sydney’s inner west through Luke Holden of Sarah Lorden Real Estate. The two-bedroom brick residence on 143 square metres had initial expectations of more than $880,000. It last sold for $708,000 in 2007.
 
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A four-bedroom 1950s house fetched $781,000 on in the Sydney suburb of <a target="_blank" title="Kingsgrove" href="/news">Kingsgrove</a>. Still held by the original owners, it was the first time the well-cared-for Beresford Parade house had been offered in six decades. It had gone to auction with $750,000-plus hopes through Romeo Safetly of PRD Nationwide Bexley North.
 
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The weekend’s highest reported sale was at the Melbourne suburb of <a target="_blank" title="Glen Iris" href="/news">Glen Iris</a>. The Irymple Avenue property sold through Iain Carmichael at Bennison Mackinnon with five bidders after opening with a vendor bid of $2.45 million. It was on the market at $2.6 million, which Adam Woledge at James Buyer Advocates deemed was a strong result.
 
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<img src="/images/stories/3mplus.jpg">  
The result wasn’t reported, but James Buyer Advocates suggest a tick over $3 million was the unconfirmed price paid on the weekend for a double-fronted four-bedroom Story Street, Parkville period home listed through Tom Roberts of Nelson Alexander. Polector, located close to Melbourne University, sits among <a target="_blank" title="Parkville" href="/news">Parkville'</a>s grandest boom-period residences with a land size of 540 square metres.
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Neither Sydney nor Melbourne has enjoyed any clear ascendancy when it comes to the highest weekend auction clearance rates. Indeed, for most of this year the title of best-performing capital city has yo-yoed between the two. Adelaide briefly took line honours on one weekend earlier this month. It has now been 12 weeks that Melbourne’s weekend auction clearance rate has been stuck below 60%. Sydney’s has been there since February.  
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Sydney’s weekend clearance rate from the preliminary 204 results compiled by Australian Property Monitors. There were 242 auctions held in Sydney, which was 22% down on the 314 auctions on the third Saturday in July 2010. Clinton McNabb at APM says there are about 290 auctions due next weekend. After some further results came in from the July 9 auctions, Sydney recorded a 52% clearance rate, slightly lower than the 53% published figure.
 
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Melbourne’s weekend clearance rate from the preliminary 377 results compiled by the Real Estate Institute of Victoria. There were 584 auctions held in Melbourne on the third Saturday in July 2010. REIV chief executive Enzo Raimondo says there are about 495 auction due next weekend. After some further results came in from the July 9 auctions, Melbourne recorded a 53% clearance rate, slightly lower than the 56% published figure from the initial Saturday results.
 
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The release of the REIV's June quarter median prices shows the median price of Melbourne houses sold at auction increased 1.2% to a $730,000 median, while those sold at private sale rose 1% to a $500,000 median.
 
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The weekend’s highest sale was a four-bedroom, late-Edwardian residence at Aberfeldie. It had been marketed as likely to fetch between $1.4 million and $1.54 million through Fabian Rosin at Nelson Alexander Essendon. Aberfeldie is nine kilometers north west of Melbourne.
 
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A three-bedroom house on Bourke Road in Melton South on the outskirts of Melbourne was the weekend’s cheapest sale.
 
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Sydney’s cheapest sale was a two-bedroom house at Merrylands through Jas Singh at Laing + Simmons Merrylands. There were three bidders.
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<img src="/images/stories/trumpquote.jpg">
- Donald Trump, who will take three 907-gram bars of<a target="_blank" title="Trump" href="https://www.observer.com/2011/09/load-of-bullion-trump-takes-40-wall-street-deposit-in-gold-blames-obama/"> gold in lieu of cash for a $176,000 deposit on his property at 40 Wall Street</a>, in New York. Trump is using the opportunity to take pot-shots at President Barack Obama, saying that he does not have faith in the economy or the greenback. The modern-day L. Frank Baum has said he hopes others will follow his lead and take bullion as currency.  
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Quote of the week

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<img src="/images/stories/jimcarrey.jpg">
- Jim Carrey, on Twitter. He had been <a href="https://www.celebuzz.com/2011-09-06/jim-carrey-graffitis-his-own-house-in-nyc-photos/" title="Jim Carrey" target="_blank">photographed putting graffiti on a wall</a>, which turned out not to be his New York house, but an art studio where he liked to spraypaint.
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The residence 21 White Street in the Melbourne suburb of Glen Iris sold at well at weekend auction, fetching a price well above expectations.
<img src="/images/stories/whitest.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/21-white-street-glen-iris/Property-Details-buy-residential-3142005_S">21 White Street, Glen Iris, VIC, 3146</a>
Sale price: $1,860,000
Agent quote: $1.5 million plus
% above agent quote:  19.35%
Bidders:  6
Last sold: October 2006 at $1,079,000
Growth since last sale: 11.54%
Median growth for Melbourne: 8.6%
Average tip: $1.71 million
It was among the biggest auctions of the weekend, with well over 100 people looking on as six bidders aggressively competed for the three-bedroom family home.
Since being sold in 2006 for $1.079 million the property has had a cosmetic renovation and landscaping including a pool.
Although renovation costs need to be taken into account this rate of growth is significantly higher than the Melbourne median of 8.6% over the same time frame.
Mark Armstrong from propertytycoon.com.au suggests the result indicated a high level of confidence for home buyers who are looking to upgrade their family home.
He says investors and first-home buyers are a bit more wary, but the home buyers in this price bracket were showing real strength and are currently driving the property market.
Some 8% of the tipsters on <a href="https://www.propertytycoon.com.au">propertytycoon.com.au </a>were within close proximity to the sale price.
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Weekend auction tipping result

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It was a dead heat between Sydney and Melbourne this past weekend, with both capitals recording a 55% weekend auction success rate.
Given the media negativity about the property market and the economy, the spring markets are faring OK.
Much of spring’s resilience is that vendors have adjusted their price expectations to match buyers’ reticence.
Agents have crunched some of their vendors to do it.
But another important aspect has been agents rejecting the listings of those whose price expectations are in cloud cuckoo land.
Vendors are the ones often being appraised in the agents’ pitches this spring when they get to give their initial appraisal of the house set for sale.
Given sales volumes are down quite considerably on spring 2010, estate agents are keen to cherry-pick the better listings that are more likely to bring in the selling commission.
There were 182 sales in Sydney from the 331 reported results, with another 84 results yet to be tabulated.
There were a total of 633 auctions reported in Melbourne of which 349 sold. Of the 284 passed in some 92 were on a vendor’s bid. There are 63 results yet to be tabulated.
Next weekend Melbourne auction numbers will increase again, with 880 homes listed for auction, according to the Real Estate Institute of Victoria.
There are about 400 in Sydney, according to Australian Property Monitors.
Both offerings are about 20% down on the same Saturday last year.
 
 
 
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Weekend auction wrap: Where the hammer fell

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Established houses and units priced below $600,000 recorded an 83% auction success rate in Sydney on the weekend. It came just days after the NSW government’s announcement that established homes would lose their entitlement to first home owner stamp duty subsidies from December 31.
There was been a 74% clearance rate for the sub-$600,000 market on the September 3 weekend, according to Australian Property Monitors data.
The cheaper price bracket has recorded a better success rate than the overall Sydney clearance rate for some time, with commentators suggesting the weekend fillip was the first sign of the incentive for first-home buyers to buy over the next 16 weeks. 
There was a 60% clearance rate across Sydney on the weekend, according to Australian Property Monitors, up from 51% on the first weekend of the month.
APM senior economist Dr Andrew Wilson says the stamp duty revelations and 10 months of stable interest rate policy as well as the beginning of spring have given Sydney its highest auction clearance rate in two months.
Melbourne’s 55% clearance rate was a mirror image of the 55% on the September 3 weekend, but considerably down on 70% on the same weekend last year.
“Whilst buyers and sellers alike will have welcomed the decision by the Reserve Bank to keep interest rates stable it has not been enough to cause a substantial improvement in the Melbourne auction market,” Real Estate Institute of Victoria CEO Enzo Raimondo notes.
There have been a total of 561 auctions reported, of which 308 sold and 253 were passed in, 164 of those on a vendors bid.
About 1,400 auctions are scheduled in the two weekends before the AFL grand final in Melbourne.
The 83% Sydney clearance rate was derived from sales results with publicly declared prices. 
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Few expect spring sales activity to gain much price momentum. And prices could comes under serious pressure if late listings swamp the market in the final six-week stretch home after Melbourne Cup, especially if buyers are wanting to see if prices come down further and sit on their hands for a little while to see if they do.
But Dr Andrew Wilson from Australian Property Monitors has made a big call that Sydney auction clearance rates will start to gradually track upwards.
“Growing buyer confidence and Sydney's chronic housing shortage will ensure increased buyer activity over spring,” Wilson forecasts.
He says Sydney will be Australia's most resilient housing market through the remainder of 2011, assisted, it seems, by his suggestion that the number of properties offered for auction each weekend won’t  grow too significantly over the next few months reflecting some ongoing wariness from sellers.
Melbourne buyers’ agent Mal James thinks the market has moved from an overall nothing winter market to a two-speed low-stock spring one.
“During this transition it has dropped in price with a few exceptions – courtesy of the share market malaise.
“If you have an A-grade home and you are priced to market then you are selling strongly and even slightly better than a month ago," James says.
“On the other hand, if you have a home that has issues with position, land content or floor plan, then your end sale result is continuing to ease and doesn’t look like getting any better this side of Christmas.”
During spring’s first Saturday – with barely an uptick in stock levels –auction clearance rates retained their cautious winter persona.
In Sydney, the clearance rate was 54.1%, almost unchanged from the 54.8% previous weekend tally, according to Australian Property Monitors.
The Real Estate Institute of Victoria figures had a 57% clearance – up from the revised 52% in the previous weekend, the lowest clearance seen so far this year. but with results still to come from 63 properties, the final result is expected to ease slightly. There were a total of 470 auctions reported, of which 268 sold and 202 were passed in, 140 of those on a vendor’s bid.
In Ipswich Queensland investors snapped up nine apartments in Ipswich's first high-rise residential tower Aspire.
There had been 44 residential apartments and three commercial units for sale after the developer, Dore Property Corporation, was forced into receivership after only selling about half the units on Ellenborough Street, Woodend.
With 104 units plus four split-level penthouse apartments, the 15-storey building was completed in 2008. The site had been bought for $1.1 million in 2005.
There were 62 registered bidders at the Ray White Ipswich helmsman-style auction.
Estate agent Warren Ramsey secured prices between $210,000 for a one-bedroom studio and $532,500 for a three-bedroom penthouse. The buyers were mostly local.
Initial off-the-plan prices ranged between $304,000 and $1.11 million.
<img src="/images/stories/4point7.jpg" style="border-style: initial; border-color: initial;">
 
The weekend’s top sell was a Sargood Street, Toorak house that fetched $4.7 million. It last traded at $2,151,000 in 2005. The 1930s, five-bedroom, four-bathroom house sold though agents RT Edgar after auction. Bidding opened at $4.2 million, according to James Buyer Advocates, and with two bidders it was passed in at $4.6 million.
 
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Melbourne had another two sales above $4 million, including a house on Nelson Road, South Melbourne at $4,215,000 and a house on Coppin Grove, Hawthorn at $4,110,000.
 
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Sydney’s top sale was $1,995,000 for a block of four two-bedroom apartments on Dudley Street, Coogee. It sold through Nelson Dueza at Century 21 Classic. The block was bought by a trio of young investors who are going to renovate the units and lease them long term.
 
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The REIV is expecting a pickup on volumes over the next three weeks in the lead up to the October 1 grand final pause. The are 670 auctions scheduled for the September 17 weekend, according to REIV chief executive Enzo Raimondo.
 
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Australian Property Monitors research analyst Clinton McNabb expects about just a slight increase to 360 auction next weekend from the 350 just gone. There are about 470 auctions scheduled for the September 17 weekend.
 
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Adelaide’s highest sale, according to APM, was a three-bedroom Beulah Park house sold through LJ Hooker Kensington agent Andrew Welch and Sam Trowse, who’d been seeking $550,000 plus. It last sold for $315,000 in 2006. It was a 1900 brick cottage on 440 square metres.
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School holidays, along with the grand final weekend, meant there were just the 47 auctions in Melbourne, where agents secured a 59% success rate. There was a 57% clearance rate from the 119 reported results in Sydney.
Melbourne’s dearest sale was $857,000 in Hughesdale. Melbourne’s clearance rate averaged just 54% in September, the lowest September since 2004. Stock levels are set to rise to 565 auctions next weekend and to 730 auctions in a fortnight, according to the Real Estate Institute of Victoria, with the real test towards the end of October when 850 properties go under the hammer.
Sydney’s dearest weekend sale was in Maroubra yesterday at $2.7 million through Ray White agents Phillip Elmowy and Nader Hotait. The house was built in 2003 on a hillside block that cost $670,000 in 1994.
Sydney's median house price for the three months to August fell by 1.8% to $643,315, compared with the previous quarter, according to the latest Australian Property Monitors data.
The median price for units also fell by 1.8% to $448,024.
Despite these falls, the median house price has decreased by just 0.6% over the year to August, with the median price for units remaining stable, according to Dr Andrew Wilson, the senior economist for Australian Property Monitors
Sydney's house price performance over the past year remains the best of all capitals, and equal to Canberra's, which was also down by 0.6%.
Only Darwin recorded a better performance in median unit price growth.
The main division in the various Sydney markets was between properties priced under $1 million and those above $1 million, according to estate agent John McGrath.
"Under $1 million is performing actually quite well and over a million is still the quieter part of the market," he told Fairfax Media. 
John McGrath offered a regional metropolitan snapshot for Sydney, including:
Western suburbs - Job fears hinder activity
Parramatta region - Good sales up to $600,000
Hills district - Performing well under $1 million
Upper north shore - Strong up to $1.25 million
Northern beaches - Buyers less confident, hesitant
Lower north shore - Investor market strong
Eastern suburbs - Good sales under $1 million
Inner west - Young professionals driving market
South - Strong in St George, less so in Sutherland shire
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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]

Jonathan Chancellor

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