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]

WM Residences fills gap in Mordialloc townhouse market

Burwood

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A Chinese developer has purchased a 4,041 sqm landholding for $5,950,000 in Melbourne’s eastern suburb of Burwood.
The property was sold for $1,950,000 above the initial expectations. 
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The site is currently improved by The Box Hill Motel which comprises 23 rooms.
With a lease in place until May 2020, it provides a rental income of $175,534 per annum.  
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Zone General Residential 3, the site lends itself to a range of development outcomes including apartments and townhouses, with the buyer planning on a townhouse project down the track. 
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Savills agents Nick Peden, Jesse Radisich and Benson Zhou, in conjunction with Nelson Alexander, negotiated the deal.
The expressions of interest campaign garnered 48 site inspections, interest from over 160 groups, resulting in 26 offers to purchase.   
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The sale achieved a sharp yield of only 2.95%, as well as a land rate of $1,472 per square metre.  
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“To receive 26 offers to purchase the property, it is evident that buyers are out in force for well-located landholdings with holding income and exceptional development potential,” said Mr Peden.  
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“Through an exhaustive Expressions of Interest sale campaign, Savills were able generate extreme competition from the full range of buyers based locally and internationally with representation from China, Singapore, Hong Kong, Malaysia and USA.”  
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East Melbourne Box Hill Motel sold for $2 million above expectations

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It has taken a year, but the award-winning television dir­ector Peter Andrikidis, who ­directed the first season of Channel 9 crime-drama hit Underbelly, has secured the sale of Wellpark, his long-time Burwood home.
Shared with his wife Sue, the couple have been based at the home since 1993 when they sold in Balmain.
They paid $470,000 for Wellpark, a solid full-brick ­Edwardian near Burwood Park.
The two-level home with front and rear verandas has six bedrooms, dining and sitting rooms and a swimming pool in the private rear courtyard.
LJ Hooker Burwood agent Joe Murania secured the $2.45 million sale.
It had marketed the home as “built to a standard of excellence rarely seen today’’.
The stately residence is on the high side of one of Burwood’s most sought after streets.
Andrikidis has nine AFI Awards including best ­direction for Underbelly season 1.
One of his first works was The Flying Doctors, before he moved on to the ABC’s medical drama series G.P., which earned his first AFI Award.
There was also the police drama series Wildside, and more recently the ABC legal drama Janet King and the medical drama Pulse.
This article was first published in the Sunday Telegraph.
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Award winning Underbelly director Peter Andrikidis sells long-time Burwood home

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An expansive five bedroom two bathroom Federation style Burwood residence is now on the market.
Situated at <a href="https://www.realestate.com.au/property-house-nsw-burwood-129600970" target="_blank">3 Appian Way</a> this 1,676 sqm residence is stated on the listing as a "premium buying opportunity combining a spacious landholding, refined period character and powerful future potential."
Inside, the home has been preserved throughout with high ceilings as well as original fireplaces.
 It's two-level layout features substantial formal lounge and dining areas, an equipped kitchen with bedrooms on the upper level.
<img src="https://www.urban.com.au/images/2018/11/15/3%20Appian%20Way%202.JPG" alt=""> The home is within established grounds with private lawns, landscaped areas, and an in-ground swimming pool plus a poolside entertainment patio. There is also off-street parking for multiple vehicles.
Residents of this holding will gain access to the community-owned Appian Way tennis courts and pavilion. 
Located with access to Burwood shopping and transport hub, as well as all multiple schools schools.
The home last sold for $2.5 million in 2005 and is set for a December 1 auction.
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Federation style residence in Burwood hit's the market

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A residential complex in Burwood in Sydney’s inner west has come to market for the first time in 36 years and is expected to sell for more than $30 million. 
Savills Australia’s Stuart Cox, Neil Cooke and Johnathon Broome have been appointed to manage the expressions-of-interest campaign, saying they expected competitive enquiry from a broad buying pool of investors and developers.
“It’s very rare to be able to acquire an entire block of 26 units in one line so we’re anticipating strong competition,” Cox said.
The complex occupies 3,165 sqm across one title and generates a gross holding income of $725,608 per annum. It is zoned for B4 Mixed Use with an associated floor space ratio of 3:1.
“Currently underdeveloped for an impressive site area of this size, this site presents substantial development upside and holding income,” Cooke said.
“It has a building height limit of 30 metres and potential to construct up to 9,495sqm of gross floor area, subject to council approval.
<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/2018/10/9/burwood2.jpg" alt="">
“Via a redevelopment, the site lends itself to a premium residential flat building (STCA), with excellent views and solar access provided to the majority of apartments.”
Mr Cox said the site’s “prestigious” location in one of Sydney’s most tightly held inner-west suburbs was another key selling point.
“Burwood is a panoramic district, with Sydney CBD and Blue Mountains views on offer via a redevelopment of the site,” he said.
“The property is well serviced by surrounding arterial roads and public transport, with outstanding access to local amenity and close proximity to Westfield Burwood, Burwood Railway Station and MLC School.” 
Cox went on to say that the complex was well positioned within Sydney’s western growth corridor, where transport, housing and economic infrastructure was set to explode to cater to the rapidly increasing population. 
“An extra 420,000 people are expected to move into the corridor between Greater Parramatta and central Sydney in the next 20 years,” he said.
“More than 300,000 new jobs will be created by 2036 across this same corridor; it’s only natural that residential projects will continue to profit throughout this timeframe in response to the influx of residents.”
 Expressions of interest close October 31.
 
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jrobinson-rf4aSBido9

Burwood residential complex for sale through Savills with 26 apartments

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Award winning director Peter Andrikidis, most noted for directed the first season of Channel Nine crime-drama hit Underbelly, has listed Wellpark, the long-time Burwood home he shares with his wife Sue.
The couple have been based at the home since 1993 when they sold their Balmain home for $400,000.
They paid $470,000 for Wellpark, a solid full brick Edwardian near Burwood Park.
The two level home with front and rear verandahs has six bedrooms, stately dining and sitting rooms.
A swimming pool sits in the private rear courtyard on the 520 square metre Gordon Street parcel. 
LJ Hooker Burwood agent Joe Murania said the home is built to a standard of excellence rarely seen today.
Andrikis is Australia's most awarded drama director with nine AFI Awards including Best Direction for Underbelly season 1 and East West 101.
Peter and Sue own a Suffolk Park investment near Byron Bay which they bought two years ago.
Upon their $1,416,000 they sought a $1,200 a week tenant. The three bedroom home was most recently up for rent this time last year for $975 a week.
One of his first commissions was to work on The Flying Doctors, before he moved to the ABC where he worked as a director and producer on the medical drama series G.P, which earned his his first AFI Award.
This was followed by the groundbreaking police drama series Wildside.
In 2001 he was awarded the Australian Centenary Medal in the Queen's New Years Honours List for his services to Australian society and film production.
He has worked with the likes of Sam Neill, Cate Blanchett, Guy Pearce and Simon Baker.
His most recent work has seen him direct ABC drama Janet King and medical drama Pulse.  
This article first appeared in The Daily Telegraph. 
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Award winning Underbelly director lists long-time Burwood home

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A five bedroom in Burwood, one of the most tightly held Federation enclaves in Sydney, has sold for $4.85 million. 
It was sold by Sebastian Bonaccorso and Tony Licastro from Elders Inner West.
The home was motive a heritage offering.
Over a 1,800sqm site with wide 26m frontage and dual circular driveways, <a href="https://www.realestate.com.au/sold/property-house-nsw-burwood-127467846" target="_blank"> the 18 Appian Way </a>home features five bedrooms.
There are a ballroom-size living and dining space, plus kitchen with adjoining casual meals area and family room.
<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/2018/3/9/burwood.jpg" alt="">
It also comes with on-site parking for multiple vehicles and boat plus garage and undercover patio/carport.
It is only a short stroll to Burwood shopping, eateries, train station and elite schools.
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Burwood heritage offering sold for $4.85 million 

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A development site in Sydney’s Inner West suburb of Burwood is set to go under the hammer on October 14.
The <a href="https://www.realcommercial.com.au/property-land+development-nsw-burwood-502558998">4 George Street</a> site has an area of 266 sqm and is in a mixed use Development Zone and a maximum building height of 70 metres.
The prime location means there are good growth prospects, particularly with the continued private and government investment in Burwood, says its description.
<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/2017/10/12/Burwood2.jpg" alt="">
The site is a stone’s throw from Burwood train station. 
It also benefits from its proximity to schools and shopping centres.
The site changed hands in 2011 for $580,000, according to CoreLogic RP Data.
The listing agent is Giampaolo Iarossi of Zoom Real Estate. 
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Burwood development site set to go under the hammer

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A proposed development in the Sydney suburb of Burwood to join two adjoining blocks and create around 1,000 new apartments has ben given an endorsement from state planning authorities.
Holdmark Property Group's planning proposal to develop four residential towers, ranging from 20 to 42 levels and an A-grade commercial office building on Wynne Avenue, fronting Railway Parade in Burwood has received a Gateway Determination by the Department of Planning and Environment.
Gavin Carrier, head of development for Holdmark Property Group, said the approvals were a terrific outcome for the growth and advancement of Burwood.
“Our consultant team has worked closely with Council to continually refine and improve our concept to create a really compelling solution for the centre of Burwood and we’d like to thank Council for their professionalism throughout this entire process," he said.
"We believe this project will be the making of Burwood for generations to come and, as the community’s representatives, Council has a very important role to play in shaping that opportunity.
<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/2017/03/17/cox_bur_view%2001_FINAL_bright.jpg" alt="">
“The involvement of not one, but two outstanding, multi-award-winning architectural firms has resulted in a magnificent and dynamic design that is not just visually stunning, but we believe really captures the aspirational spirit of the people of Burwood.
“It will be an iconic new landmark to signify the growing importance of Burwood as one of Sydney’s key strategic socio-economic hubs. 
We are now looking forward to continuing to work closely with Council, the community and our existing tenants to put all the necessary approvals in place for the delivery of this fantastic development.
"The project will now move through further consultations and approvals.
“Whilst the realisation of this vision is still subject to several more stages in the consultation and approval process, the positive Gateway Determination is a very important initial milestone to achieve."
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Burwood's future takes shape with new development project

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Residential land values in NSW increased by 11.1 percent to a total of $1.2 trillion in the 12 months to 1 July 2016.
It continued the trend seen in the preceding two years.
The land values were based on the analysis of over 38,000 residential property sales across NSW.
The Sydney metropolitan area experienced the strongest increases. 
Burwood's 37.5 percent rise, parts of Canterbury-Bankstown (previously Canterbury) (25 percent) and parts of Inner West (previously Ashfield) (24.6 percent) recorded the strongest increases in residential land values driven by demand for property with redevelopment potential, close to transport and the Sydney Central Business District (Sydney CBD).
The increases within Burwood were especially around the town centre and along Parramatta Road, where the government has released an urban transformation strategy foreshadowing higher density apartment construction with some parts of Burwood, such as <a href="https://www.valuergeneral.nsw.gov.au/land_value_summaries/lga.php?lga=137" target="_blank">Milton Street</a> parallel to Parramatta Road, seeing land values soar 100% within the year. The highest increases were generally sites allowing residential unit development close to infrastructure, shops and services, also in Homebush, Flemington and South Strathfield where land values increased by around 76 percent.
Land values in the south western growth areas of Campbelltown, Camden, Liverpool and Wollondilly local government areas (LGAs) increased by around 25 percent, and the north western areas of Hawkesbury and The Hills by around 18 percent.
<a href="https://www.valuergeneral.nsw.gov.au/land_values/interactive_portal" target="_blank">The NSW Valuer General </a>noted not all areas increased at the same rate. Residential land values north and south of the Sydney CBD generally showed increases of 10 percent to 15 percent, while values in Sydney’s eastern suburbs (Randwick, Waverley and Woollahra LGAs) all increased by less than 5 percent.
Coastal areas of NSW also recorded moderate increases with residential land values in most areas increasing between 5 percent and 13 percent.
It included the major population centres of Wollongong (7.8 percent) and Newcastle (13.2 percent) LGAs.
There were mixed results in regional NSW with residential land values in most LGAs remaining stable or recording slight increases of up to 5 percent.
Broken Hill and the mining areas of the Hunter (Muswellbrook, Singleton and Upper Hunter LGAs) recorded falls in land values ranging from about 8 percent to 15 percent.
There are now 16 LGAs where the median residential land value is over $1 million dollars - all in the eastern or central parts of the metropolitan area.
The highest median land value is in the LGA of Mosman at $1,840,000, up 12.2% in the year to 1 July 2016, followed by Woollahra at $1,815,000, up 5.5 percent.
The lowest median residential land value is in the Central Darling LGA, $2,400, which increased by 62.1 percent from a low base which results in a large percentage movement.
Land value is the market value of the land only, as if it had sold on 1 July in the valuing year. It does not include the value of buildings or other structures.
In September each year the Valuer General determines new land tax and premium rate thresholds for the coming year.
The requirements for the determination of new thresholds are set out in Division 4A of the Land Tax Management Act, 1956.
The adjustments to the thresholds are based on the annual movement in the average land values of land within residential, commercial, business and industrial zones in NSW.
The rate of change of land values in these zones from 1 July 2015 to 1 July 2016 was determined to be 11.087 percent.
The land tax threshold for the 2017 land tax year was determined to be $549,000 and the premium rate threshold was determined to be $3,570,000.
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Burwood's 37.5 percent rise in land values more than trebles NSW's 11.1 percent overall value jump 

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Maloola estate in Sydney's Burwood has hit the market for the first time in more than two decades.
Built around 1880, Maloola is one of Burwood’s landmark estates on a 1900sqm block.
The seven bedroom, three bathroom home comes with spacious formal and informal living areas.
The home’s original character has been sympathetically restored including ornate marble fireplaces in several rooms, leadlight windows and doors and soaring pressed metal ceilings.
Located at <a href="https://www.realestate.com.au/property-house-nsw-burwood-122170162" target="_blank">12 Clifton Avenue</a>, Maloola is surrounded by established gardens along with a rare circular driveway, which also leads to a triple lock up garage with its own attic rumpus room/studio.
Joe Murania and Fabian Cabrera, agents with LJ Hooker, have the offering which last sold at $580,000 in 1993.
Its renovation and conservation won a 2004 Burwood Council award for James and Sonia Toland. 
 
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