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

Commercial Property

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A $2 shop has agreed terms on the lease of a large retail space in the heart of the Moonee Ponds retail precinct in Melbourne’s inner northern suburbs.
Teska Carson’s Luke Bisset, who brokered the 13-15 Puckle Street deal with Fergus Evans, said the 624 square metre premises was let at $113,000 per annum net on a five year term with options.
Mr Bisset said the tenant was attracted to the spacious tenancy, the high ceilings, the extensive street frontage and the high volume of foot traffic in one of Melbourne’ s most famous shopping precincts.
"This was a great opportunity to get a foothold in one of the best shopping strips in Melbourne and at a very affordable rental.
The size of the floorspace and the exposure to Puckle Street were the key attributes the tenant was looking for,’’ Mr Bisset said.
He said the Puckle Street address had predictably attracted a high level of enquiry.
The lessor is a Melbourne based private investor.
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j.ballantyne1990-6AQqhLzZaK

$2 shop takes spacious Puckle Street lease

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Two properties in Melbourne’s inner suburb of Clifton Hill have sold for a total of $4.5 million in deals brokered by Savills.
According to Savills Australia CBD &amp; Metropolitan sales team, Julian Heatherich, Nick Peden, and Jesse Radisich, the sales reflected the increasing demand for inner city locations such as Clifton Hill, according to the selling agents.
The properties comprise 3 Hilton Street - a 205 square metre, office/warehouse with roller door access – which sold for $900,000, and 10 Reeves Street - an 884 square metre showroom/warehouse on an 1,175 square metre site – which sold for $3.6 million.
"The market for inner-city property has rarely been stronger and Clifton Hill is now clearly on the radar as it offers very close proximity to the CBD, the Eastern Freeway, and trams and train services," said Heatherich.
"The local area which includes Brunswick, Lygon and Smith streets and Queens Parade has also been very popular with both residential and commercial users over several decades with property values appreciating accordingly.’’ 
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Two commercial properties in inner Melbourne sold through Savills

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The industrial and logistics sector has emerged as the surprise performer of Australia’s commercial property market, with rental growth and projected growth in 2017 making investors confident about the sector, according to commercial real estate firm CBRE.
Strong levels of consumption and investment spending is supporting goods demand in major markets across the country, providing a strong basis for rental growth in 2017, says CBRE’s Industrial and Logistics, Q4 2016, MarketView report.
In the final three months of 2016, the industrial and logistics sector recorded positive quarterly rental growth of 0.5 percent nationally, underpinned by strong gains in Sydney, it said. 
The figures point to the beginning of a growth period for the sector, said CBRE’s senior managing director, Industrial &amp; Logistics, Pacific, Matt Haddon.
“The tide has turned, with the latest quarterly rental growth and projected growth in 2017 injecting confidence into the sector, which, despite mixed economic conditions, has continued to succeed,” Haddon said. 
“It’s well documented that the manufacturing sector is declining – and has been for years. Gains in consumption and investment spending are where our focus needs to lie, with this sector of the market driving future occupier demand growth.” 
Reduced supply in 2016 is also expected to stimulate rental growth, with just 433,000 sqm released in the December quarter – 34% lower when compared to the same period in 2015, the report says.
In terms of deals, Victoria recorded its strongest year on record in 2016, with $1.92 billion in assets changing hands – representing a 15% increase from 2015. 
The report shows $394 million in property transactions during the last three months of 2016 helped propel the Victorian market to its strongest position on record. 
CBRE senior research manager Kate Bailey said a number of high quality assets and portfolio sales had underpinned strong transaction activity in Melbourne. 
“In 2016, there was an imbalance of available premium assets and large scale opportunities to meet demand in most locations across the country – with the possible exception of Melbourne,” Bailey said. 
“Similar drivers were responsible for a slowdown in offshore investment, with portfolio sales the key driver of foreign investment in 2016.” 
Nationally, $4.831 billion in industrial &amp; logistics assets changed hands during 2016 – marginally down from a record $5.267 billion in 2015, due to the available stock shortfall.
New South Wales recorded $1.559 billion for the year, followed by Queensland with $537.67 million, $617.2 million in Perth, $146.05 million in South Australia and $31.25 million in the ACT. 
“Global capital remains highly focused on this strongly performing segment of the commercial market,” Haddon said. 
Haddon said further compression of yields in major markets during 2016 indicated that investors were anticipating both occupier demand and rental growth in the sector. 
In Q4, super prime average yields compressed a further 10 basis points to reach record lows of 6.9% nationally, driven by a low of 6.0 percent in Melbourne, 6.1 percent in Sydney and 6.5 percent in Brisbane.
Haddon said current market conditions pointed to a strong year for the market. 
“Current activity levels suggest that an increased number of opportunities will be available for investors in the first quarter of 2017, compared to the same period 12 months ago.” 
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jonathanchancellor-7SQnKwU6yx

Industrial, logistics surprise performers in Australia's commercial property market: CBRE

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The major refurbishment of several office buildings in the Canberra CBD over the past couple of years has attracted several high calibre tenants to the area, and another building is hoping to benefit from the trend.
The refurbishment of 17 Moore Street, owned by CorVal, will be completed in the coming months.
Benn Vicic, senior asset manager at CorVal said they worked closely with architects Peckvonhartel on the building’s core design upgrades to improve tenant amenity.
The program includes refurbishment of the façade and entrance point, as well as upgrades to upper floor lift lobbies and bathrooms.
Tenancy area upgrades include new carpet, ceilings and LED lighting, which will significantly reduce tenancy occupancy costs, Vicic said.
“We believe property owners have an obligation to limit the environmental impact of their investments and this fundamental belief has driven the sustainability upgrades at 17 Moore Street,” he said.
“In 2016, we started works on a BMS tuning and retro commission program, culminating in an extensive 211 panel, 56 kilowatt solar photovoltaic system which resulted in the building achieving a 5-star NABERS Energy rating.
“Once fully leased, the systems have the capacity to achieve 5.5-stars, which if achieved will make 17 Moore Street the first pre-existing building in Canberra to reach this level.”
<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/2017/02/23/160728%20-%2017%20Moore%20-%20V02%20-%20Lobby%20-%20Final%202000.jpg" alt="">
Located on the corner of Barry Drive and Moore Street in Civic, 17 Moore Street has 5,750 square metres of office space available to lease across six levels with 65 secure basement car spaces.
The floor plates of approximately 1,000 square metres is suitable for a variety of fitout designs and working environments.
Colliers International and Raine and Horne Commercial are the appointed leasing agents.
Michael Ceacis, director of office leasing at Colliers International, said:
“17 Moore Street is the only refurbished office building in Canberra CBD that has achieved a 5-star NABERS Energy rating.
“We know that many tenants seeking office accommodation in the City are looking for modern and energy efficient space, and with the refurbishment works at 17 Moore Street nearing completion, it will be an attractive option for all tenant types.
“This landmark structure will embody modern design and the latest environmental technology, resulting in the highest standards of workplace collaboration and energy efficiency.”
Nick Cotis, director of operations at Raine &amp; Horne Commercial said all works at 17 Moore Street were anticipated to be completed in May.
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Canberra's 17 Moore Street sets sights on top tenants with eco-friendly makeover

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A Melbourne based developer has paid $3 million for a Moonee Ponds site with a permit for a mixed use development.
The 841 square metre site at 21-23 Norwood Crescent property is zoned Activity Centre Zone1 and was sold at a land rate of $3567 a square metre. The private sale was brokered by Savills' Jesse Radisich and Julian Heatherich.
Radisich said the property has a permit for 19 apartments and ground floor commercial space and had attracted strong interest from developers. 
"The property generated considerable interest with more than 65 individual enquiries from a wide range of local and off-shore developers, and that reflected the strength of not only the Moonee Ponds market, but the northern suburbs in general,” he 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/2017/02/28/21-23%20Norwood%20Cres%20markup.jpg" alt="">
The property is located close to Moonee Ponds Central Shopping Centre, public transport and schools.
Heatherich said the area was undergoing rapid growth with apartment development sites keenly sought after.
"Moonee Ponds has long been a popular centre and it continues to attract new residents looking for a home in an area which offers all essential amenities within close proximity of the CBD,’’ Heatherich said.
The vendor was a local private developer.
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Moonee Ponds development site fetches $3 million

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Parramatta commercial property sales increased in the quarter to December 2016, according to CoreLogic's Cityscope report.
The property data firm says that for the three months to December 2016, there were 32 sales at a total value of $150.2 million, compared to 17 sales at a total value of $139.3 million for the previous quarter.
Over the year there were 97 sales at a total value of $492.8 million, a decrease from the 171 sales at a total value of $578 million for the previous year.
The table below shows sales recorded for the past eight updates of Parramatta Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Paramatta-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/Paramatta-1.jpeg" alt="">
Notable sales in the December 2016 update of Parramatta Cityscope include:
<ul>
<li>
<a href="https://www.realcommercial.com.au/property-land+development-nsw-parramatta-501863054" target="_blank">Albion Hotel, 135 George Street, Parramatta</a> (pictured above), a single and two-storey building with beer garden, bottle shop and parking on a site of 1,920 square metres, which was sold together with Albion car park, 118 Harris Street, Parramatta, a paved car park for the hotel on a site of 1,214 square metres for about $60 million through Khoury &amp; Partners Parramatta;</li>
<li>80 George Street, Parramatta, two office buildings of six and 11 storeys providing a net lettable area of 8,115 square metres with basement parking for 103 cars, which was sold for $51.88 million through Knight Frank</li>
<li>292 Church Street, Parramatta, a three-storey retail building with a net lettable area of 2,090 square metres and six car spaces, which was sold for $9.75 million through Ray White Commercial – Sydney.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Paramatta-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/Paramatta-2.jpeg" alt="">
Properties listed as for sale in the December 2016 update of Parramatta Cityscope include:
<ul>
<li>295-309 Church Street, Parramatta, a two-storey building with a net lettable area of 1,362 square metres and 17 car spaces, which is available for sale through Savills and Khoury &amp; Partners</li>
<li>Unit 3 at 411 Church Street, Parramatta, a 77 square metres office suite on level one in a two-storey building, which is for sale through LJ Hooker Commercial Parramatta.</li>
</ul>
Properties with leasing opportunities listed in the December 2016 update of Parramatta Cityscope include:
<ul>
<li>197-205 Church Street, Parramatta, two interconnected buildings of two and three-storeys, which have office space of 1,500 square metres available through CBRE Western Sydney;</li>
<li>90 Phillip Street, Parramatta, a four-storey office building with a net lettable area of 3,180 square metres and 61 car spaces, which has office space up to 1,200 square metres available through CBRE Western Sydney</li>
<li>486 Church Street, Parramatta, a 10-level residential building and a two-storey retail annexe, which has retail space up to 1,200 square metres available through Khoury &amp; Partners Parramatta.</li>
</ul>
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Parramatta commercial property sales bounce back: Cityscope

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Sydney's Verandah hotel in Martin Place has been sold for over $9 million.
The hotel is at 60 Castlereagh St and fronts both Castlereagh and Elizabeth Sts.
It sold through Andrew Jolliffe of Ray White's Asia Pacific Hotels. 
<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/2017/02/28/022_Open2view_ID448707-55-65_Elizabet_Street.jpg" alt="">
 He is also selling on behalf of the same vendors John Singleton, Geoff Dixon and Mark Carnegie of The Australian Pub Fund (APF), the Marlborough Hotel in Newtown and Kinselas in Sydney's Eastern Suburbs.
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Sydney's Martin Place hotel, Verandah, sold

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A freehold commercial property in Sydney’s Chatswood has been listed for sale with price expectations of about $25 million.
The 754 Pacific Highway, Chatswood property has a net lettable area of 3,825 square metres. 
The property sits within an area currently zoned for future retail, commercial or mixed use developments, subject to council approval.
The property is being sold via an international expressions of interest and select tender campaign closing March 1 through selling agents Henry Burke of Colliers International and Hugh Anderson of Sutton Anderson.
“We experienced a huge amount of demand for freeholds and expect this trend to continue well into 2017,” Burke said.
There was a record sales result for 282-284 Victoria Avenue for $46.25 million, which represented a net yield of 3.9% and a rate per square metre of $8,300 for two C grade commercial buildings.
15 Help Street sold for $43.8 million, representing a net yield of 5.62% rate per square metre of $8,118 for a B grade office building in the core CBD of Chatswood.
The major result for Chatswood in 2016 was the sale of The Zenith Centre by Dexus &amp; GPT to Centuria and Blackrock for $279 million.
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Commercial property in Sydney's Chatswood listed with $25 million hopes

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A Chinese investor has picked up a corner site in Melbourne’s tightly held Glen Waverley for $2.38 million via private sale.
The 206 square metre retail site at <a href="https://www.realcommercial.com.au/property-retail-vic-glen+waverley-502182570" target="_blank">15 Railway Parade North</a> comprises a single-level brick building of around 150 square metres. The sale price reflected a land rate of $11,387 per square metre.
The deal was brokered by Fitzroys agents Chris Kombi and Terence Yeh along with Peter Sprekos and Damien Sweeney of JLL.
Kombi said the property was offered with vacant possession and Commercial 1 zoning.
He said the property offers future development potential, being subject to proposed amendments to the Monash Planning Scheme that if approved would see the maximum height for the site increased to between eight and 10 stories.
“The offering received interest from investors, owner occupiers and developers alike, all looking to capitalise on the vibrant surrounding Kingsway shopping, dining and entertainment area.”
Kombi said the commercial offering of the area includes The Glen Shopping Centre nearby, which has over 207 specialty retail shops. Nearby are eateries, a cinema multiplex and other entertainment options.
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Corner site in Melbourne's Glen Waverley nets nearly $2.4 million

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Commercial property market sentiment is at a high underscored by the strong performance of CBD hotels, according to NAB’s industry index figures which reached a record level since the survey began in 2010.
NAB’s Commercial Property Index, part of its Commercial Property Survey Q4 2016, rose 5 points to +21 - its highest level since the survey began in early 2010. For the Q4 survey, 250 panellists participated. 
The bank’s chief economist Alan Oster said the jump was largely due to big gains in CBD hotels and small gains in the office sector. 
“While we continue to see an uneven performance across sectors, the performance of CBD hotels has more than offset the lower sentiment that we’re seeing in both retail and industrial markets,” he said.
“Confidence has also wavered in all sectors, except CBD hotels where it rose sharply among very strong expectations for occupancy, capital and revenue per available room (revPar) growth. 
<img src="https://www.urban.com.au/images/2017/02/22/NABCommPropIndex.png" alt="">
<img src="https://www.urban.com.au/images/2017/02/22/NABIndexQ.png" alt="">
Confidence and sentiment was much stronger in New South Wales and Victorian, while Queensland showed some improvement, but WA still very weak, he said. 
The latest survey found that prospects for capital growth in next 1-2 years improved, and are best, for CBD hotels.
Other sectors had scaled back but still growing. Retail is being led by NSW and Victoria, office by NSW and industrial by NSW and Queensland. 
Other findings include the expectation that office property will provide the best income returns in the next 1-2 years, led by very strong growth in NSW. Retail and industrial rents are predicted to grow modestly in all states except WA. 
Overall office vacancy fell a little as a small tightening from very high levels in QLD &amp; SA/NT offset Survey high vacancy in WA and small increases in NSW &amp; VIC (but from low levels). Vacancy in office and industrial markets are set to fall in the next 1-2 years and rise in Retail.
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