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A Romanesque Revival former aged care facility in Kew has been listed for sale with a price guide of $4 million-plus.
Located on the corner of Fellows and Barry Street, Fairholme, also known as Hallel was built in 1889 for local solicitor Edward Smart by Reed, Henderson and Smart architects.
It was added to in circa 1900 by C Gordon McCrae and features a wrap around Edwardian verandah, ornate ceilings, restored cornices and timber paneling.
The property was most recently known as the Gracecourt Hostel aged care facility, featuring 27 rooms and 24 ensuites across 2,185 square metres.
Classified by the National Trust, Fairholme offers the opportunity to be restored into a family home or to continue as an aged care facility, subject to council approval.
Listing agent Robert Fletcher says there has been a lot of interest, particularly from buyers wanting to renovate and extend the home and some wanting to utilise some of the existing accommodation.
Fairholme is listed through <a target="_blank" href="https://fletchers.net.au/3466698/20-Fellows-Street-Kew">Robert Fletcher and Nick Fletcher of Fletchers Realty</a>, with expression of interest closing June 19.
The median house price in <a target="_blank" href="/news">Kew</a> is $1,360,000 according to RP Data.
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Gracecourt Hostel, aka Fairholme and Hallel, in Kew trophy home in the making listing

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A five-bedroom property boasting a 42.5-metre ocean frontage is on the market for $7 million-plus.
Located on Gordon Avenue in Coogee, the vast 2,304-square-block hosts a two-level home with soaring cathedral ceilings.
Featuring three bathrooms, the interiors of the main living area opens up to a large ocean front entertaining verandah with views over Gordon’s Bay.
The property also features a tennis court and a separate self-contained guest accommodation.
The property offers the opportunity to subdivide the land or modify the existing residence.
It last sold in December 2001 for $4,258,000.
The median house price in <a target="_blank" href="/news">Coogee</a> is $1,612,500 according to RP Data.
Bethwyn Richards and James Dack of <a target="_blank" href="https://www.mcgrath.com.au/buy/house-coogee-nsw-2034/166113/?searchID=29144610">McGrath Edgecliff</a> has listed the property for a June 22 auction.
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Coogee clifftop trophy home listing

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The Perth housing market is predicted to record a modest house price rise for 2013 and 2014, according to the latest SQM Research report.
In the SQM’s September 2012 Boom and Bust report, Perth house prices were predicted to rise between 6% to 13% for 2013 – this has now been revised to 4% to 7%.
SQM managing director and property analyst Louis Christopher says falling interest rates are assisting the market, however the mining downturn is having an impact on the rental market.
Christopher says the market is likely to slow down, due to rising rental vacancies and cautious investors in the second half of the year, but prices are unlikely to fall.
“I stress that the chances of falling prices in Perth this year or next are very remote as I strongly believe the mining downturn will be buffered by a falling Australian dollar,” says Christopher.
The median house price in Perth is currently $704,000, according to <a href="The%20Perth%20housing%20market%20is%20predicted%20to%20record%20a%20modest%20house%20price%20rise%20for%202013%20and%202014,%20according%20to%20the%20latest%20SQM%20Research%20report.%20%20In%20SQM%E2%80%99s%20September%202012%20Boom%20and%20Bust%20report,%20Perth%20house%20prices%20were%20predicted%20to%20rise%20between%206%%20to%2013%%20for%202013%20%E2%80%93%20this%20has%20now%20been%20revised%20to%204%%20to%207%.%20%20SQM%20managing%20director%20and%20property%20analyst%20Louis%20Christopher%20says%20falling%20interest%20rates%20are%20assisting%20the%20market,%20however%20the%20mining%20downturn%20is%20having%20an%20impact%20upon%20the%20rental%20market.%20%20Christopher%20says%20the%20market%20is%20likely%20to%20slow%20down,%20due%20to%20the%20rising%20rental%20vacancies%20and%20cautious%20investors%20in%20the%20second%20half%20of%20the%20year,%20but%20prices%20are%20unlikely%20to%20fall.%20%20%E2%80%9CI%20stress%20that%20the%20chances%20of%20falling%20prices%20in%20Perth%20this%20year%20or%20next%20are%20very%20remote%20as%20I%20strongly%20believe%20the%20mining%20downturn%20will%20be%20buffered%20by%20a%20falling%20Australian%20dollar,%E2%80%9D%20says%20Christopher.%20%20The%20median%20house%20price%20in%20Perth%20is%20currently%20%24704,000,%20according%20to%20RP%20Data.%20%20The%20Perth%20Housing%20Boom%20and%20Bust%20Report%20will%20be%20available%20via%20the%20SQM%20Research%20website%20for%20%2459.95." target="_blank">RP Data. </a>
The Perth Housing Boom and Bust Report will be available via the <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research website</a> for $59.95.
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SQM forecasts modest Perth house price rise between 4% to 7%

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Sales activity of units and townhouses in Queensland have increased over the past year, with Cairns, Gold Coast and the Sunshine Coast the strongest performers, according to the latest preliminary report by REIQ.
The number of unit sales in the March quarter increased by 2% when compared to the same period last year.
“The popularity of units and townhouses in our major tourist precincts has returned,” says REIQ chief executive officer Anton Kardash.
The sale of units and townhouses in Cairns increased by 54.5% when compared to the March quarter last year, with the strongest activity seen in the sub $250,000 price bracket.
The Sunshine Coast increased by 22.6% sales with growth in activity in the $350,000 to $500,000 price bracket.
The Gold Coast sales activity increased by 19.4% compared to the March quarter last year, with an increase in recorded sales in the $250,000 to $350,000 price range, as well as in the upper-end market.
“These areas have experienced the highs and lows of the GFC and the strength of the Aussie dollar, more than most over the past four years so it is heartening to see them stepping back into light.
“Many of these areas have become more affordable, even those with unique seaside locations, so this is no doubt spurring buyers into action before the tide has turned to the positive completely.”
Sales within the prestige market on the Gold Coast have increased nearly 30% when compared to the same period last year.
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Increased sales activity as unit and townhouse demand strengthens in Queensland: REIQ

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Channel Seven’s House Rules has once again trumped Channel Nine’s The Block Sky High Unlocked in the 8pm timeslot and is stealthfully catching up to The Block Sky High, which sat in third place for Thursday night's ratings.
The Block Sky High in its 7pm timeslot was the third most watched show around the nation – behind Nine News and Seven News – recording a rating of 1.16 million.
House Rules recorded a rating of 1.066 million last night - and fourth place - easily knocking off The Block Sky High Unlocked with ratings of 899,000, according to OzTAM.
It is the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/friday-may-31-news-house-rules-hammers-the-block-sky-high-unlocked-for-a-second-time-houserules-skyhigh/2013053061805?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews">third consecutive week</a> that House Rules has fared better than The Block Sky High Unlocked when both shows have been on air at once.
Melbourne recorded the highest metro capital ratings with 390,000 for The Block Sky High and 292,000 for House Rules.
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The gap narrows between The Block Sky High and House Rules

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Vendors have been warned that nobody will love their home as much as they do, as advice from prominent New South Wales Central Coast agent Mat Steinwede within his 10 tips to sell your home right.
“The biggest mistake owners make in pricing their home is they think their property is better than everyone else’s,” says Steinwede.
Steinwede says buyers start logically and finish emotionally and vendors must first logically attract the market.
Vendors need to look at what similar properties to theirs are selling for and how they are performing in the market.
Another important tip Steinwede offers is the 30-day rule that applies to every property in real estate.
Steinwede says the best buyers will come along in the first 30 days and if you fail to attract any offers in this period, your price is too high.
“If everything is lined up right from day one you should have interest and offers in the very early stages.
“If you aren't getting interest in the those early stages, adjust early and you'll be on your way.”
Steinwede says the 30 day rule is the most important rule for any owner to understand before they sell a home.
“When selling a home it has nothing to do with how long you have been on the market, it has more to do with how long a buyer has been shopping in the market.
“The longer a buyer has been looking for the right home, the more heightened their emotional readiness becomes and usually the stronger their price will be because they want to get in before the rest of the market. 
"That’s why the old saying rings true, your first buyers are always the best buyers," says Steinwede.
As well as an estate agent, Steinwede is also a property industry motivation circuit lecturer.
Steinwede’s complete 10 tips for owners thinking of selling their home was published on his <a href="https://www.propertyobserver.com.au/https://www.facebook.com/matsteinwede/posts/534111476619425" target="_blank">Facebook page</a> and can be found below.
1. Price Your Home Right.
Take your time to understand the market before you speak to agents. Remember price is everything. Too high no one will buy. Look at the facts that are happening in the market today directly around you and then consider market demand (is your price bracket selling quick). Biggest mistake owners make in pricing their home is they think their property is better than everyone else's and expect the market to love it as much as they do. Buyers start logically and finish emotionally. The first thing you have to do to logically attract the market is make sure the criteria of your home matches what other similar properties are selling for. Then buyers will come.
2. Have A Strategy For Marketing Your Home.
These days many owners just want to use the internet to sell their home. This is not a strategy, this is just one part of what's available. After selling more than 1,000 homes I have seen buyers come from all different places and if you want the best buyer and the best price you must cover all your bases and make sure you have a complete marketing strategy and full market energy around your home.
Market Energy=Better Price (every time). You only get one chance to sell your property right so have every marketing channel working for you from day one. Internet, advertising, neighbourhood campaign, database plan, signage, best photography, editorial, video, floor plan, open houses, hot buyer preview and the absolute best agent working for you.
3. Present your home like you don't live there.
Well, that's a bit of an exaggeration. Looking like you live in your home is fine. Just get some expert advice on presenting your home. Most of the time owners aren't stylist's so it makes sense to source the best advice on this one. Buyers are looking for a home that they instantly connect with and feel like they want to live there and this connection comes from style and creating a WOW. Often owners think that having a clean house is presenting it for sale when this is only part of it. Styling is about maximising the space for appeal and flow. How a home flows is just as important as how it looks. You only get one chance to make a first impression so speak to the people that specialise in first impressions. Most agents will be able to point you in the right direction for good stylists.
4. They really are different.
The right agent can make a massive difference. Sometimes owners pick an agent because they like them which is fine but the question I would be asking myself if I was an owner is what difference does this agent bring to my sale. See the most important function of an agent is their service levels and their skill set. Can they help you protect your price? That's the single most important question you should be asking. Selecting the wrong agent can be very expensive. Before you engage an agent ask them to demonstrate how they will best protect your price and this will flush out the ones that know what they are doing. Then you will have a short list of agents to choose from that offer the best skill set.
Remember this one thing when selecting an agent... You can only base your selling decision on what they tell you. So the quality of information that your agent is able to extract will make all the difference. That's why skill set is important.
5. Be real.
Not everyone is going to love your home, in fact probably lots of buyers won't like your home at all. Don't get discouraged when you get feedback about your home, see it for what it is, they just don't like it. The most important feedback is what the market place thinks your home is worth. This way you can adjust if needed early if the feedback isn't in alignment with your expectation. Here is a checklist of the people to listen to with price feedback.
Neighbours and Friends: Don't listen to them about what they think your home is worth, they are always too high.
Buyers that are ready to buy, have inspected your property but don't like it: These buyers are usually quite educated and fairly accurate with price feedback because they see it for what it is and have no emotional connection to your home.
Buyers who are interested in your home: They will usually give slightly lower price feedback initially because they are interested.
This is an easy way to work out who is giving the feedback and why.
6. Area Specialist.
Use an agent that knows the area. Just because you might know someone in Real Estate but they work in another area don't use them to sell your home. That's ridiculous. They will have no idea how to build value in your home because they don't know anything about the recent properties that have sold (they might know the price but they won't know what the home offered or the story behind the sale) Use an agent who specialises in the area, works in the area and loves the area. It will be much easier.
7. I'm Thinking About Using My Friend.
This is a delicate one. If your friend (agent) works in the local area it's easy to list your home with them and they may do a good job but I have found this to be awkward sometimes. Selling your home is a business transaction and doing business with friends isn't easy if you have to have those hard discussions. Managing property in a changing market can be a testing time and it can strain a relationship if you don't see eye to eye with your friend during the process. So my advice is don't list with your friend and maintain the relationship.... It's easier.
8. The 30 Day Rule.
There is a rule in Real estate that applies to every property. Your best buyers will come along in the first 30 days. The reason for this is you have access to the greatest number of qualified buyers when you first launch your home into the market place and that excitement period never comes back.
There is a trap that many owners fall into when selling and that is rejecting a buyer in the early stages or an offer in the early stages because in there mind, they have only been on the market for a short time (a few days or a couple of weeks) and they always says “it’s only early days".
Usually why you don't get offers during this period is your price is too high and buyers are walking away. This leads me to my next point.
9. Adjust Early.
One of the biggest mistakes is owners say it's early days.... Meaning if the market isn't responding and you are getting no interest or offers, owners feel it's too early to adjust. This can cost you dearly. Market momentum is everything and if in the first 2 weeks the market feedback is lower than where your price point is, that is a strong indication that your price is too high. Often owners will say "we haven't had any offers" so they can gauge whether to lower their price or not.... Listen closely...... You aren't getting any offers because the buyers feel your house is too dear and they are voting with their feet and walking away. Work closely with your agent in these early stages and feel the rhythm of the market and you will be able to read what is going on. If everything is lined up right from day one you should have interest and offers in the very early stages. If you aren't getting interest in the those early stages, adjust early and you'll be on your way!!
10. Just Relax.
All you can do is your best and make sure you have done everything you possibly can to position your home right, market your home right and select the best agent. Once you have ticked all the boxes sit back and relax and work closely with your agent as a partnership. Allow the agent to do their job and be open to understanding the market and everything will work out just fine.
"Not all homes sell within 30 days but if these things are covered chances are you will," Steinwede told Property Observer.
Steinwede specialises in <a href="/news">Macmaster Beach</a>, which has an average of 148 days on the market and <a href="/news">Wamberal</a>, with an average of 85 days on the market.
In response to this, Steinwede says his own average days on market is 40.
You can keep up to date with Steinwede via his <a href="https://www.propertyobserver.com.au/https://twitter.com/matsteinwede/statuses/297812793871196160" target="_blank">Twitter page</a>.</body></html>

Mat Steinwede's 10 tips to help you sell your home faster

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The latest development offering new terrace-style living in inner Sydney city happens to be called The Terraces, a 34-terrace development offering torrens title homes at St Peters.
Located on Grove Street, The Terraces are 80% pre-sold.
The Environa Studio-designed development offers three-and four-bedroom double-storey homes without strata fees.
Three-bedroom terraces are 148 square metres in size and start from $895,000.
Four-bedroom terraces are 170 square metres in size and start from $995,000.
The cheapest home at $875,000 was the display home, which is currently under contract.
Each home comes with a courtyard and landscaped garden.
Bill Kalimnios of McGrath says the main buying demographic have been young professionals.
Domain Holdings, a syndicate headed by Albert Bonansea, bought the 7,339-square-metre former pioneer concrete site in 2004 for $5.7 million.
The first marketing stage began in early 2011 through Liberty Property Services, with prices starting from $825,000.
However the first building company appointed to the development, <a href="https://www.propertyobserver.com.au/industry-news/liquidators-of-collapsed-cosmopolitan-construction-meet-with-home-owners/2011111752421" target="_blank">Cosmopolitan Constructions</a>, went into liquidation, causing some buyers with contracts to withdraw due a lengthier construction timetable.
<a href="https://the-terraces.com.au/" target="_blank">The Terraces</a> are now listed through Steven Chen and Elizabeth Brunton from McGrath with a December 2013 completion date.
The median house price in <a href="/news">St Peters</a> is $684,000, according to RP Data.
Mirvac's Harold Park Glebe development has had strong terrace sales too. Prices of <a href="https://www.propertyobserver.com.au/new-south-wales/no-false-start-as-mirvac-secures-eden-harold-park-terrace-sellout/2012111257768" target="_blank">around $1.895 million have been paid for the Harold Park four-bedroom terraces</a>.
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St Peters development The Terraces secures 80% in pre-sales

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Artist and author of Jeremyville, Jeremy Andrew, has listed his two-level penthouse in The Rex building at Potts Point for $1.4 million plus. 
Located on Macleay Street, the former Rex hotel building was redeveloped in 2005 by BKH architects.
The sky home features two bedrooms, two bathrooms and a galley kitchen with Miele appliances.
The property boasts four metre high ceilings, a mature-garden terrace with harbour views and exclusive use of the adjacent rooftop area of approximately 70 square metres.
Listing agent Brad Caldwell-Eyles says the exclusive roof area has been of real interest to potential buyers.
“No approvals for its use exist as yet; however we imagine that the buyer will seek to install decking and glass balustrades to make the area an amazing roof garden straight from the current residence.
“It will have awesome views of the city and Elizabeth Bay,” says Caldwell-Eyles.
The penthouse also has use of the building amenities including a pool, sauna and gym.
The Rex is a combined residential and retail complex of 165 apartments over nine levels.
Andrew purchased the property in 2005 for $945,000.
Andrew’s first job was a comic artist for the Sydney Morning Herald, and has since worked with the likes of MTV, Adidas, Diesel, Converse and Reed Space Gallery in New York.
Andrew splits his time between his studio in Bondi Beach Sydney and in Soho New York where his creative and life partner, Megan Mair plan to spend more time.
The property will go to auction on June 25 through Brad Caldwell-Eyles of <a href="https://www.1stcity.com.au/Buying/Search/Detail.aspx?id=HCES298&amp;wlid=265bebde-7115-4216-ab52-b88c39133964" target="_blank">1st City Hasemer and Calwell-Eyles Double Bay.</a>
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Jeremyville artist lists Rex, Potts Point trophy apartment

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The Adelaide residential property market reached the bottom of the cycle in the second half of 2012, according to property valuers Herron Todd White.
Since that time, HTW says there has only been minimal improvement to property values overall, which is somewhat expected given the uncertainty surrounding current economic conditions, both locally and federally.
HTW believes that Adelaide’s property market will gradually recover over the next few years.
The firm believes that the average potential buyer is more conservative and reluctant to commit to any further financial pressure, due to job security and the cost of living expenses.
Also contributing to people’s reluctance to commit to major financial decisions is the federal election later this year and the state election in March next year. 
“Especially as it is speculated that both federal and state will see a change of government – this usually occurs in the lead up to an election but is expected to be somewhat offset by an increase of activity once the vote has been finalised whatever the outcome.”
The firm says the recent reduction in interest rates was welcomed, however they believe many will use their current position to increase savings and pay back debt rather than add to any existing debt overall.
Herrod Todd White believe that the suburbs closer to the city will be the ones to improve in value first and show the best growth.
This growth will be driven by upgraders looking to move into more desirable suburbs, while also taking advantage of the price corrections that occurred over 2011 and 2012.
“Well located and appointed dwellings are selling fairly quickly within many of these suburbs when priced to meet the market, however there currently exists numerous factors holding back this market sector.
“These include there being limited stock coming onto the market so many potential buyers just can’t find what they are looking for.
“With limited properties on the market buyers often find it harder to make decisions because they can’t directly compare properties; difficult selling conditions mean that many upgraders are worried about selling their own properties and therefor choosing not to act; and with less potential buyers looking, or should we say, with less potential buyers willing to actually commit there is not enough competition between buyers in the current market to push up prices just yet.”
HTW says the recent interest rate cut may improve this situation a little but mostly it will just be time that improves Adelaide’s residential property market.
“If we roughly divide this market into two price brackets, we suggest $400,000 to $750,000 will secure an older detached three-bedroom, one- to two-bathroom dwelling or a newer (often attached) dwelling on a smaller allotment around seven to twelve kilometres from the city.
“Or $750,000 to $1.2 million for an older character three to four-bedroom, one- to two-bathroom detached dwelling or a newer dwelling (potentially attached) on a smaller allotment up to seven kilometres from the city or located within beachside suburbs.
The firm says properties that are better located and close to established and popular amenities have the best potential for capital gains.
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Time will improve Adelaide's property market as uncertainty around economic conditions linger: Herron Todd White

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A double-fronted Edwardian residence in Melbourne’s bayside suburb Middle Park was last week’s most expensive sale, selling at auction for $3.93 million, according to RP Data.
James Buyers Advocates says there was a large crowd of 180 at the June 2 auction.
Situated on 456 square metres, the home (pictured below) features four bedrooms, two baths and a double-storey extension.
{yoogallery src=[images/stories/2013/06/june5middlepark]}
Guy Angwin of James Buyer Advocates says although recently undergoing renovation, the property needed a rebuild to turn it into a modern floor plan.
The buyer's advocate Richard Kerr offered $3,050,000 which setting off some 60 subsequent bids between four bidders. At $3,550,000 the Middle Park property was announced as on the market.
It was knocked to the first bidder, an owner-occupier, at $3,930,000.
The property was listed through Oliver Bruce and Nicholas Hoo of Marshall White.
Its previous sale prices included $842,500 in 1999 and $621,000 in 1997.
The median house price for <a target="_blank" href="/news">Middle Park</a> is $1,371,000, according to RP Data.
The top ten most expensive sales:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/63_nimmo_street_middle_park_vic_3206/11777852">63 Nimmo Street, Middle Park, VIC, 3206</a>, four-bedroom house, sold at auction on June 2 by Marshall White &amp; Co for $3.93 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_weeroona_avenue_woollahra_nsw_2025/7743787">20 Weeroona Avenue, Woollahra, NSW, 2025</a>, five-bedroom house, sold at auction on May 29 by Richardson &amp; Wrench Double Bay for $3.3 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_cheyne_walk_castlecrag_nsw_2068/1789553">4 Cheyne Walk, Castlecrag, NSW, 2068</a>, five-bedroom house, sold at auction on June 1 by L J Hooker Castlecrag for $3.27 million. <a target="_blank" href="/news">It was unrenovated</a>.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/11/56a_pirrama_road_pyrmont_nsw_2009/14515647">11/56A Pirrama Road, Pyrmont, NSW, 2009</a>, three-bedroom unit, sold on June 1 by Feldi Property Agents for $2.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/312_albert_road_south_melbourne_vic_3205/13094171">312 Albert Road, South Melbourne, VIC, 3205</a>, five-bedroom house, sold at auction on June 1 by Hocking Stuart Albert Park for $2.855 million. It had last sold at $2.2 million in 2007.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37_bent_street_paddington_nsw_2021/5261867">37 Bent Street, Paddington, NSW, 2021</a>, three-bedroom house, sold prior to auction on June 1 by McGrath Estate Agents for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/33_suffolk_avenue_collaroy_nsw_2097/1891835">33 Suffolk Avenue, Collaroy, NSW, 2097</a>, five-bedroom house, sold at auction on June 1 by McGrath Estate Agents for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/383_esplanade_henley_beach_sa_5022/9783975">383 Esplanade, Henley Beach, SA, 5022</a>, three-bedroom house, sold at auction on June 1 by Ray White Henley Beach for $2.385 million 
<a target="_self" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/113/19_hickson_road_dawes_point_nsw_2000/7252224">113/19 Hickson Road, Sydney, NSW, 2000</a>, three-bedroom unit, sold on May 28 by McGrath Estate Agents for $2.38 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4b_duke_street_balmain_east_nsw_2041/1261722">4B Duke Street, Balmain East, NSW, 2041</a>, three-bedroom house, sold on May 29 by Bresicwhitney Estate Agents Darlinghurst for $2.2 million
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
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Double-fronted Middle Park Edwardian residence fetches $3.93 million: RP Data

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]

Nicola Trotman

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