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The Vinnies CEO Sleepout held each year across the country has raised $7 million in vital funds for the St Vincent de Paul Society's on the ground services.
The event was <a href="https://www.ceosleepout.org.au" target="_blank">held overnight</a>, with the $7 million tally being exceeded by late morning today.
It will go higher as Geelong and Perth will hold their sleep out on Thursday 27 June 2019.
Sydney raised $1.9 million, but the top fund raiser was BankSA Adelaide CEO Nick Reade, who has raised $206,130 so far.
He's followed by Vedran Drakulic, boss of Gandel Philanthropy in Melbourne ($179,198) and ERM Power CEO Jon Stretch from Brisbane ($106,297).
Shayne Elliott at the ANZ raised $43,000 in his first sleep out.
There were many property industry participants too.
Crown Resorts chief executive Barry Felstead raised $59,434, David Hyman, boss of home loan lender Lendi, raised $25,222 and Nathan Casserly, who heads up Ouwens Casserly Real Estate, raised $20,357.
Michele Adair, the CEO at The Housing Trust, slept out at Wollongong.
Genworth Mortgage Insurance Australia CEO Georgette Nicholas, who is shortly returning to the US after five years in Sydney, raise $25,000.
Hotelier Jerry Schwartz raised a record $26,000, on his 10th sleep out, with donations coming from his Crowne Hunter Valley staff.
Laing O'Rourke's Jeremy Matterson raised $11,781, noted his first sleep out had been prompted after seeing homelessness around Sydney's Central Station where he is working on delivering the new Sydney Metro.
Estate agents included Sam Abboud at Woodards Ascot Vale who secured a donation from the Woodards Foundation.
In Sydney R&amp;W Mosman agent Geoff Grist raised $6000 plus on his fifth sleep out, securing donations from other estate agents including Melbourne agent James Tostevin.
The $7 million in total raised equates 619,819 beds being provided, nearly 1.6 million meals and nearly two million individual support programs.
The sleep out is sponsored by The Australian and Sky News, as its national partners.
 
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jchancellor-FAypfDUnLy

Vinnies CEO Sleepout raises $7 million 

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The $21 million sale of a Phillip Cox-designed beachfront home at Palm Beach, on Sydney's pricey peninsular, has buoyed market sentiment at the docile top end of the property market.
The trophy home, bought by an eastern suburbs family as a weekender, ranks as the third priciest sale so far this year.
There were initial bullish $23 million hopes for Palm Haven, the vast Barrenjoey Road estate of Phillip Esplin, the late lawyer and founder of Esplins Solicitors.
There have only been two known higher sales in Sydney's east, at Vaucluse and Rose Bay with agents complaining activity have been very subdued this year.
The sale comes after the Australian Bureau of Statistics reported that Sydney's overall house sales activity fell to just 12,000 in the March quarter – the lowest level since 2002.
"The Sydney listings story is going to be an interesting one to watch over the next few months," CoreLogic property researcher Cameron Kusher said, noting the trend had continued through autumn and into the seasonal winter slowdown.
"Housing sentiment has improved and auction clearance rates have lifted yet newly advertised properties for sale are continuing to trend lower," Kusher noted.
The Palm Beach offering had been in the Esplin family name since the late 1980s when they spent $900,000 on one block before spending a further $1.3 million next door to create the sprawling 2,075 sqm waterfront property.
<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/2019/6/20/Esplin2.jpg" alt="">
Cox designed the double brick and timber home in 1990 to win the HIA Award for Design and Building Excellence.
The Australian style home features a number of formal and casual living and dining areas which open to deep verandahs.
It has one of the few tennis courts in the suburb. 
LJ Hooker Palm Beach agent David Edwards had the listing.
The Palm Beach record stands at $24 million when Gretel Packer secured the family bungalow which was handed to her as part of the breakup of her father, the late media tycoon Kerry Packer's, vast fortune.
The biggest transacted home sale come in 2012 when Kalua, the luxury $22 million property nearby which was bought by car dealer Laurie Sutton in 2012 for the trophy home, Kalua.
Kalua also has a tennis court.
Palm Beach's most recent prestige sale was to Goldman Sachs managing director Zac Fletcher who spent $10.35 million on Snapperman Beach through David Edwards, of LJ Hooker Palm Beach.
The widow of the late AC/DC guitarist Malcolm Young, O’Linda Young, bought a beachfront house on Snapperman Beach in 2015 for more than $10 million. The property baron Stephen Burcher bought last year for $12 million.
This article was first published in the Daily Telegraph.
 
 
 
 
 
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Palm Haven at Palm Beach sold for $21 million

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Property developer Piers Dawson Damer and wife Kim are selling their Tasmania lifestyle acreage.
The 25 hectare Mountain River estate sits in the Huon Valley, 30 kilometres south-west from Hobart.
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A six bedroom family home with tennis court and swimming pool sit in the landscaped gardens.
The Dawson Damer's paid $950,000 in 2007.
<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/2019/6/29/sandy%203.jpg" alt="">
Knight Frank Tasmania agent Anne Boman has price expectations around $2 million.
Dawson Damer has been a permanent fixture in the Tasmania real estate market for over a decade.
In 2017, Dawson Damer spent $6.5 million on the 100 year old Sandy Bay mansion Sentosa.
Designed by Marco Linardi in 1917, Sentosa sits in 2,310 square metres of Paul Bangay-designed gardens on Blinking Billy Point.
It was the second time Dawson Damer had set the Tasmania house price record.
In 2011, he bought Waimea House, the Federation Arts and Crafts style residence, also in Sandy Bay, for $6.06 million.
This article first appeared in The Weekend Australian. 
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Developer Piers Dawson Damer lists Huon Valley acreage 

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The volatility of transfer duty revenue has proved a significant fiscal challenge for New South Wales. 
During the property market boom, transfer duty grew to be the State’s largest tax, representing 31 percent of tax revenue in 2016-17.
The decline in the property market over the past 18 months has seen forecast transfer duty fall to 21 per cent of tax revenue in 2019-20. 
Since the 2017-18 Budget, the four-year forecast for transfer duty has been reduced by $10.6 billion. 
Residential transfer duty is expected to grow at an average annual rate of 8.8 per cent over the four years to 2022-23. 
The NSW Treasury forecast is largely driven by the expected return to average transaction volumes. 
“As interest rate cuts and relaxed credit restrictions flow through into increased lending, residential transaction volumes are forecast to rebound strongly from the middle of 2019.
“Price growth, however, is expected to be restrained during the forecast period, largely keeping pace with inflation.”
New South Wales become more reliant on transfer duties in recent years, which rose from $3.8 billion in 2011-12 to $9.7 billion at its peak in 2016- 17. 
Since the 2017-18 Budget a softening of the housing market has resulted in a write down of more than $10 billion in forecast transfer duty. 
Land tax too has been revised down following a lower 2017-18 outcome than expected at Budget, along with lower than expected foreign investor land tax surcharge revenue. 
Non-residential construction activity is expected to partially offset falls in dwelling construction over the next two years. 
The public sector will be a major driver, assisted by the State’s record $93.0 billion capital spending program over the next four years. 
The large public infrastructure program, rising commercial building activity and a solid export sector are forecast to underpin the State’s resilience and are expected to partially offset the weakness in the household sector. 
The budget papers noted transfer duty makes up about 8.2 per cent of forecast 2019-20 general government sector revenue and a delay in the forecast residential property recovery, or a less robust return to growth, could detract from the State’s budget result. 
Transfer duty revenue is expected to be $7.4 billion in 2018-19, $173.0 million lower than forecast at the 2019 Pre-election Budget Update. 
From 1 July 2019 home buyers will benefit with the previously announced annual indexation of transfer duty thresholds to the Sydney Consumer Price Index. 
The measure is estimated to save homebuyers around $330 on an average-priced dwelling purchased by 2021-2. 
Transfer duty brackets had not changed since 1986. 
Budget surpluses are being maintained despite the State facing revenue pressures.
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NSW residential transaction volumes forecast to rebound strongly from the middle of 2019: NSW state budget

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Sticking to his $8 million expectations, opal dealer Paul Hain has relisted Crosswaves in Newport.
The three-level Bungan Head Rd offering has northeast sea views from its ocean clifftop position.
Each of the four bedrooms has its own bathroom, with six bathrooms in all.
The home, which features floor-to-ceiling glass and sky panels, was new when first listed in 2014.
Hain bought the 1112sqm block back in 1975.
<img class="tge-imagecaption_img" src="https://cdn.newsapi.com.au/image/v1/674ef36e786032200e5825234b2303fe?width=650" width="650" height="488">
He also owns next door.
It has been listed through L.J. Hooker agent Andrew Reynhout.
The competition on Bungan Head Rd comes from sailing legend Trevor Barnabas and his wife Gail, who also have $8 million hopes.
This article was first published in the Sunday Telegraph.
 
 
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Opal dealer re-lists Newport trophy Crosswaves

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It was quite something to recently see the extent of transport infrastructure completed and under construction along the Northern Road on Sydney's outskirt. 
The works are taking the route into the 21st century for the ever expanding Western Sydney.
The road still has remnants of our pioneer years especially obvious passing the grave stones at Luddenham.
The existing two-lane undivided road, which carries about 16,000 vehicles per day, comes with numerous heritage items including the Luddenham progress hall that began in 1886 as the Protestant Hall.
There's the now closed Vicary's Winery originally part of the explorer Blaxland explorer family estate. 
Next time I will stop to buy some fresh honey from one of the remaining farms.
The upgrading of a 35 kilometre section of The Northern Road between Narellan and South Penrith is a city shaping upgrade which will encourage more housing estates and ought be effective in placing downward pressure on housing prices.
Last weekend saw the rapid demolition of the 40 year old bridge at Orchard Hills.
Some 6,000 tonnes of concrete and steel was removed by the 60 workers who did the job across the long weekend, in three days, rather than the alternative of up to 20 weeks of night closures.
The Northern Road upgrade will provide increased road capacity for expected future growth when complete in 2022.
Investing in safer and more reliable journeys, the Federal Government has committed $1.2 billion The Northern Road Upgrade, with the NSW Government committing $400 million.
This upgrade is part of the Western Sydney Infrastructure Plan, a $3.6 billion program which will deliver 60 kilometres of major road infrastructure upgrades before the opening of the western Sydney airport at Badgerys Creek.
There is a very strong link between infrastructure delivery and the increase in supply of dwellings, and then an improved economy from the ensuing population growth that make their home in the Macarthur region at housing estates such as Oran Park, and the more established Harrington Park which was the Fairfax family farm until its late 1980s approvals. The population of Oran Park Town has progressed from zero to around 7500 in nine years.
There was a 2013 study by the National Housing Supply Council that found investment in transport infrastructure can galvanise dwelling activity, but the infrastructure needs to be of sufficient scale and scope to substantially boost an area’s linkages to major employment nodes.
Albeit not always in perfect unison in terms of delivery.
The study found the nexus between transport projects, housing intensification and job boosting appeared to be much stronger in Melbourne than Sydney.
But that was before the new North West Metro, and all the apartment blocks within walking distance. 
There have already been more than one million customer journeys on the impressive system which only opened three weeks ago.
It's rightly been described as a game changing project, which connects the area by rail like never before, by Premier Gladys Berejiklian, who is now overseeing extending the line from Chatswood, under the Harbour, through the CBD and onto Bankstown.
A recent CBRE report forecast $1.4 billion of suburban development would flow every year for the next decade because of the Sydney metro rail project, with just 15 per cent of these developments officially confirmed.
Sydney needs around 36,000 new dwellings every year up until 2036 based on population growth projections.
We certainly need more projects to avert rising unemployment.
This article was first published in the Saturday Daily Telegraph.
 
 
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Transportation infrastructure the key to cheaper houses on the fringe and employment growth

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A rare freehold trophy asset in the Double Bay village has hit the market. It has long been the outlet of the owner occupiers Florida Drycleaners.
The low rise property on the busy Cross Street has a tenancy mix of boutique retailers, cafe and office space.
Colliers International agents Miron Solomons, Matt Pontey and Nick Lumley are marketing 10 Cross Street for July 11 auction on behalf of the Gordon family.
“This is a generational asset held by a private family linking the two main arteries of Double Bay; Knox and Cross Street,” said Solomons.
“We are expecting a great deal of demand for this asset, driven by the intrinsic value of freehold property in Sydney’s most prestigious waterside suburb as well as the property’s diverse income streams and future development potential.” 
Matt Pontey said Double Bay continues to drive demand for investors.
The five retail shops plus a first-floor commercial office have a net income of $162,829.50 per annum.
The flexible B2 Local Centre Zoning comes with a FSR of 2.5:1 and a height limit of 14.7 metres.
“Double Bay is buzzing with activity with the redevelopment of Double Bay and Cross Street carpark, as well as developments such as 1788 by SJD Property and The Hunter by Toga. 
"The area has seen substantial development activity over the last 12 months, with developers competing for luxury residential sites along Cross Street.”
“This is an opportunity to buy a freehold asset with part ownership of the pedestrian thoroughfare linking Double Bay’s two iconic retail streets, Cross &amp; Knox Street.”
Solomons and Pontey sold the neighbouring property 12 Cross Street, in 2018 to the Hong Kong media family, the Ma’s, achieving a record yield of 1.8% return. 
CoreLogic put the 10 Cross street site as 329 sqm.
 
 
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Cross Street, Double Bay drycleaner retail premises hits the market

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Judy Nguyen, the former franchisee of six LJ Hooker real estate agencies in Melbourne’s outer east has been jailed for nearly two years after admitting to wrongfully converting more than $800,000 in deposits from home buyers for her own use.
Truc Thanh Le Nguyen, also known as Judy Nguyen, pleaded guilty to 11 counts of wrongful conversion of sales deposits totalling $809,016, transferred from a trust account.
Nguyen must serve a minimum of eight months behind bars before being eligible for parole.
Nguyen had previously maintained her innocence in the matter, before making a late guilty plea on May 27.
There was no explanation from Consumer Affairs Victoria on the matter of the reduced number of charges as it had previously advised that Nguyen had been charged with 216 offences.
Her husband Joseph Ngo was sentenced to five years’ jail for his role in the scheme last year.
<div class="in-content-ad">
<div id="adspot-1x1-pos-5" class="ad" data-google-query-id="CM714fOL4eICFRPxjwodVAENFA">
<div id="google_ads_iframe_/31694718/domain.com.au/news/vic_3__container__">Nguyen was sentenced in the County Court on Tuesday to 20 months in prison.</div>
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<div>
<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/2019/6/12/Nguyen.jpg" alt=""> Judy Nguyen and her husband Tri Duc Ngo who is currently in jail.</div>
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The 11 counts related to sales in Glen Waverley, Deer Park, Caroline Springs, Narre Warren, Berwick, Dandenong, Docklands and Parkdale.
Judge Michael Bourke said he had weighed up the seriousness of Nguyen’s offences, her guilty plea, her otherwise good character along with the pleas put forward by her defence lawyer Alan Marshall which included difficulties in her life.
Judge Bourke also weighed up Nguyen’s offending against that of her husband, who led the scheme.
“This was a serious failure in trust,” Judge Bourke said. 
Nguyen was a franchisee of the LJ Hooker office in Glen Waverley with branches in Keysborough, Box Hill, Mount Waverley, Doncaster and Burwood where she worked with Ngo.
All offices suddenly closed in April 2016 under Consumer Affairs Victoria investigation into their trust accounts after complaints were made.
Ngo was jailed in March last year for a maximum of five years, and minimum of three years, for his role in misappropriating $6.4 million from the office’s trust accounts, between January 2015 and March 2016.
Ngo, a drug addict, spent over $2 million of that on clothing, jewellery and drugs, including ice. It included spending $110,000 at the high-end jewellery shop Tiffany &amp; Co.
Court documents lodged by Mr Ngo's lawyer, Erol Cinar, described the father of four as a "deeply religious" man who had an untreated "severe schizoaffective disorder". 
The Victorian Property Fund (VPF) provides financial compensation to consumers who have been affected by an estate agent’s misuse of money. The VPF has paid out $2.1 million to affected consumers in relation to the conduct of Ms Nguyen and Mr Ngo.
Being a private company LJ Hooker, which cancelled six franchise licenses that Ngo and his wife managed in Melbourne, has never publicly explained just how the head office allowed the couple to secure such a footprint in its Melbourne network.
Corporate records show their initial office was Glen Waverley in early 2013.
<table><tbody>
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<td>LJ HOOKER BURWOOD VIC <img class="external" src="https://abr.business.gov.au/Images/ico-external.png" alt="External site" width="10" height="10">
</td>
<td>22 Dec 2014</td>
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<td>LJ HOOKER KEYSBOROUGH <img class="external" src="https://abr.business.gov.au/Images/ico-external.png" alt="External site" width="10" height="10">
</td>
<td>22 Dec 2014</td>
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<td>LJ HOOKER MOUNT WAVERLEY <img class="external" src="https://abr.business.gov.au/Images/ico-external.png" alt="External site" width="10" height="10">
</td>
<td>22 Dec 2014</td>
<td> </td>
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<td>LJ HOOKER DONCASTER <img class="external" src="https://abr.business.gov.au/Images/ico-external.png" alt="External site" width="10" height="10">
</td>
<td>16 Dec 2013</td>
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<td>LJ HOOKER BOX HILL <img class="external" src="https://abr.business.gov.au/Images/ico-external.png" alt="External site" width="10" height="10">
</td>
<td>13 Dec 2013</td>
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<td>LJ HOOKER GLEN WAVERLEY <img class="external" src="https://abr.business.gov.au/Images/ico-external.png" alt="External site" width="10" height="10">
</td>
<td>18 Feb 2013</td>
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There was significant reputational damage inflicted on the nearby Melbourne offices in the network since the fraud came to light in mid-2016.
But LJ Hooker network chief Graeme Hyde has sought to profer the argument that business leadership plays a significant role in the ongoing success of the real estate network.
“We are fortunate to have long-term business owners who take great pride in the LJ Hooker offering, partnering with corporate to ensure our service to customers is the benchmark in real estate,” he said at a network awards night.
LJH's last formal response was when a spokesperson for LJ Hooker said in early 2017: "LJ Hooker is pleased that Consumer Affairs Victoria (CAV) have concluded their investigations and are now able to bring this matter to the courts, giving all those affected some closure. 
"These sorts of occurrences are a blight on the industry, and continued vigilance is of the utmost importance to LJ Hooker and our franchisees."
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Judy Nguyen was the sole director of JNT Law Investments Pty Ltd (in Liq) ACN 161 495 905 and Joseph Ngo was an employee agent. 
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Judy Nguyen, the former franchisee of six LJ Hooker real estate agencies, jailed

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The long weekend disrupted the improving trend in auction results, despite most lenders announcing even lower home loan rates after the official Reserve Bank of Australia rate cut on Tuesday.
As most states enjoyed a long weekend with the Queen’s Birthday public holiday on Monday, there were just 803 homes taken to market across the combined capital cities.
Although there were fewer properties taken to auction, the overall preliminary clearance rates also softened, according to CoreLogic auction analyst Kevin Brogan.
The 51% preliminary auction clearance rate was down on the prior's week's 58% success rate when volumes were at 1,661.
One year ago, 904 homes were taken to auction returning a final clearance rate of 53.8%.
The bigger markets, Melbourne and Sydney, retained some resilience as their preliminary clearance rates came in at 64% and 62% respectively.
Brogan noted the overall weaker national weekend result "can partly be attributed to weaker results across the smaller capital cities with all returning preliminary clearance rates below 50%".
He noted just six out of 15 Sydney sub-regions returned preliminary clearance rates over 60%, which was down from the nine in the prior week and 12 in the last week of autumn.
The Ray White NSW chief auctioneer Alex Pattaro pinpointed the apartment market was "slightly lagging behind" houses.
He believes it is a consequence of investors and first-time buyers still having difficulty obtaining finance.
"We believe this will change over the coming months once the finance begins to flow," Pattaro said.
The post-election housing euphoria had fizzled out into a state of "calm and caution", BresicWhitney agent Shannan Whitney suggested.
"When you take a can a Coke, and shake it, it explodes and then starts to flatten out - that analogy is quite appropriate for the market right now," Whitney told The Weekend Australian Financial Review.
In Sydney, 310 auctions took place across the city, down on last week when 677 auctions secured a 61.8% clearance.
Its top sale was <a href="https://dural.ljhooker.com.au/house-in-kenthurst-nsw-2156-au-xk3f5t#.XPxEzi1L3s0" target="_blank">16 Emperor Place, Kenthurst</a> (pictured above) which fetched $2.95 million early in its auction marketing campaign through LJ Hooker agent Kerry Wilson.
The home on 2 hectares last sold at $2,185,000 in 2015.
Located in one of Kenthurst's most desired cul-de-sacs, the property with tiled garaging was marketed as providing an "opportunity for a car enthusiast, small business or tradesperson needing plenty of storage".
It came with a mechanics workshop measuring 16 metres by 12 metres with two hoists, storage, a wash area and a separate gym located on its ground floor. 
Another shed on the property took the number of cars that can be accommodated to 17.
It sold after 18 days on the market, compared with the Sydney Hills Shire suburb's 63 day average time on market.
<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/2019/6/29/culb.jpg" alt="">
On the NSW south coast, a Culburra Beach home sold for $2.5 million at its mid-week Ray White auction.
The opening bid was $1.9 million, with two active bidders submitting 20 offers for the four-bedroom beachfront at <a href="https://www.realestate.com.au/sold/property-house-nsw-culburra+beach-131000682" target="_blank" rel="noopener noreferrer"></a><a href="https://www.realestate.com.au/sold/property-house-nsw-culburra+beach-131000682" target="_blank" rel="noopener noreferrer">186 Penguins Head Road</a> (pictured above).
Last sold 24 years ago for $155,000, the home was bought by a retired Sydney couple with a lot of grandchildren.
There were 216 homes auctioned across Melbourne, significantly lower than the 730 auctions held last week when 61.6% sold.
<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/2019/6/29/kens.jpg" alt="">
Melbourne's top sale was $2,165,000 when <a href="https://www.nelsonalexander.com.au/property/796499/11-nottingham-street/" target="_blank">11 Nottingham Street, Kensington</a> (pictured above) sold.
The five bedroom 1900 Victorian-era cottage that had been extended on its 566 square metre block sold through Paul Harrison at Nelson Alexander.
The pre-auction price guidance had been $1.92 million to $2.1 million.
It last traded at $1,795,000 in 2016.
<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/2019/6/29/noble.jpg" alt="">
Melbourne had the nation's cheapest weekend auction listing when a one bedroom 1970s Noble Park maisonette sold at $170,000 pre-auction.
The offer was accepted two days before having had $180,000 price hopes by Biggin &amp; Scott agent Ming Xu.
It was initially listed last October by private treaty with higher $240,000 to $260,000 price expectations.
The <a href="https://bs-waverley.agentbrand.com.au/property/20642199/" target="_blank">9/37 Corrigan Road property</a> (pictured above) last sold in 2013 at $168,000, so just a $2000 gain over six years.
Adelaide saw 42% of homes selling, Canberra was at 37%, Perth on 25%, while only 22% of homes sold across Brisbane.
<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/2019/6/29/valley%201.jpg" alt="">
Adelaide's top sale was $678,000 for the five bedroom, two storey, sandstone fronted house at <a href="https://walkerville.ljhooker.com.au/house-in-valley-view-sa-5093-au-2ca0fe7?search=%2fsearch%2fproperty-for-sale-in-valley-view-sa-5093-au%2fpage-1#.XPyYty1L2qA" target="_blank">10 Bell Court, Valley View</a> (pictured above) which had been listed with $650,000 price hopes.
Also in South Australia, Ray White agent Peter Kiritsis sold <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGGdaiTbIOoOAcGZdPuTzaDf2nnIhp7W8sfdL/I80ZAHc=&amp;rh=ff004ce36bea34153f1d0bbbfe44a7dccdd4180f" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">4 Brentwood Road</a> in Flinders Park for $630,000.
More than 80 groups came through during the four-week campaign which saw it sold to a local couple.
The four-bedroom house had been a one-owner family home.
"We've seen an increase in numbers across the board since the Federal Election and that was highlighted by the three competing bidders today," Kiritsis said.
<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/2019/6/29/camp.jpg" alt="">
One of Brisbane's sales came when $1 million was paid for the four bedroom Queenslander at Camp Hill by buyers who had only seen the Saturday onsite offering at <a href="https://www.raywhite.com/qld/camp-hill/2110525/?lang=en" target="_blank">81 Lloyd Street</a> (pictured above) on the day of the auction.
"The young family from the south of Brisbane, had been waiting four years to find their dream home and when they arrived today, they registered, and were able to achieve that dream via auction," Ray White selling agent Mel Christie said.
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Queen's Birthday long weekend disrupts gathering auction momentum 

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Kon Stathopoulos, the head of sales, has departed McGrath Estate Agents.
Stathopoulos is no longer listed on website showing the McGrath management team.
He had been with McGrath since the beginning of 2014.
He became head of company sales in October 2016 when he was elevated from being McGrath’s general manager of sales, NSW.
He took on the current role when McGrath Limited lost its longtime head of sales, Matt Lahood to The Agency, <a href="/news/mcgrath-group-loses-head-of-sales-matt-lahood-after-two-decades">with the Lahood departure and Stathopoulos appointment announced to the stockmarket</a>.
He was listed among the agencies' top earners in the 2018 company annual report with a $625,000 annual renumeration, including bonuses, up from $560,000 in the 2017 financial year and $413,000 in 2016.
Lahood had been on $679,000 in the first year after the McGrath float.
The mid-week departure has not been notified to shareholders, nor any replacement details.
He joined the Sydney office in 2014 when he moved into real estate from Melbourne, and took 12,000 shares in the group in the late 2015 IPO grant to executives, and 77,000 shares in the 2017 grant.
He'd previously been in sales for almost 14 years, starting off as a teenager as a telemarketer for Neopost Australia, a mail and logistics company.
He advanced to manage revenue, profit and their entire Australian sales team at Neopost, which included culture, strategy, training and recruitment.
 McGrath was a client.
On his 2016 appointment the then chief executive Cameron Judson announced he was "excited about the energy and enthusiasm that he brings."
Stathopoulos has previously explained his enthusiasm was that "real estate has always been in my DNA."
He'd purchased his first home at 22 and second at 29, both in Melbourne.
He'd noted proudly that the McGrath agency had superstar agents.
"One of my favourite roles is being able to celebrate the agents who have committed and been loyal to the business for many many years," he recently said.
McGrath will shortly be leaving its long-time head office in Edgecliff in Sydney's eastern suburbs and heading to inner-city Pyrmont.
It has taken the lease of a refurbished 1500 sqm ground floor space at 100 Harris Street from late October. 
One insider reportedly suggested the new digs enabled McGrath to "continue its brand renewal."
The gross annual market rent in the former 1890s wool store sits was $600 to $700 a square metre, giving McGrath savings in lease expenses, according to the Nine Entertainment website.
McGrath will share the building with Domain and WeWork.
The agency had reduced the Edgecliff office size required on <a href="https://www.raywhite.com/nsw/edgecliff/1718420/" target="_blank">New South Head Road</a> last year. 
Initially developed in 1989, and expanded in the early 2000s, the Edgecliff building has five levels of commercial office space a total lettable area of 3,500 square metres as well as basement parking for 67 cars.
The building sold last month for $41 million back to Anka Eastern Pty Ltd.
It had previously sold in 2005 to long-time Mirvac chief Bob Hamilton who paid $19.26 million reflecting a sale yield of 7.75 per cent when it was bought from Anka Property Group, directed by Andrew and Vera Boyarsky.
Anka Property Group had paid $10.6 million in 2001, it having been the temporary offices of Woollahra Council.
It was leased on its 2001 sale to McGrath and data warehousing firm Tacoma, with the price translating to a sale yield of more than 9 per cent when sold by mainland Chinese investor Grand Ocean, which bought the building in 1995 for $10.8 million. 
</body></html>

Kon Stathopoulos departs McGrath Estate Agents

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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