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

<html><body>
The industrial market in NSW for the most part is a balanced market, according to Herron Todd White’s (HTW) latest monthly market report.
However, the property advisory firm says that there are some areas such as Albury, Orange and Newcastle that are reporting an oversupply of industrial properties compared to demands.
<a href="/images/2016/10/14/NSW%20industrial%202.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/14/NSW%20industrial%202.jpg" alt="">
Many of the areas of NSW's industrial market are starting to recover, with Albury, Wagga Wagga and South East NSW reporting that their industrial markets are now at the bottom.
The local economic situation remains unchanged with most cities reporting little change in their situation, except for Tamworth and the Central Coast regions which are experiencing a steady growth in their local economies.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Some NSW regions facing industrial property oversupply: HTW

<html><body>
There is an oversupply of industrial properties in all capital cities except Sydney, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that the volume of property sales remains at a steady pace, with the exception of Perth and Darwin, which are declining.
The Sydney industrial market was rising and supply cannot keep up with the demand, the latest report said.
<a href="/images/2016/10/14/NSW%20industrial%201.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/14/NSW%20industrial%201.jpg" alt="">
The value difference between quality properties with national tenants and comparable properties with local tenants alter between significant and large across NSW's markets.
This is in conjunction with a number of cities such as Sydney, Melbourne and Brisbane where the property cycle is either approaching the peak or rising once again.
<a href="/images/2016/10/14/NSW%20industrial%202.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/14/NSW%20industrial%202.jpg" alt="">
In contrast both Perth and Darwin are approaching the bottom of the property market cycle, while Canberra is in the process of recovering once again, the report noted.
</body></html>

Industrial property oversupply across capital cities – except Sydney: HTW

<html><body>
Vacant seaside land at Diamond Beach, with approved subdivision, is for sale.
The properties are located at <a href="https://www.realcommercial.com.au/property-land+development-nsw-diamond+beach-502139634" target="_blank">Lot 6, 310-314 Anniversary Drive, Diamond Beach</a>.
The block covers a total 10.92 hectares and is situated just meters from the pristine shores of Diamond Beach.
It is a 10 minute drive from the resort towns of Old Bar and Forster, some three and a half hours north of Sydney.
The land has rural residential subdivision approval for 89 lots.
The property is offered through Unique Estate agent Nicolette van Wijngaarden.
</body></html>

Coastal land holding at Diamond Beach for sale

<html><body>
Naremburn is the NSW location where it takes the least time to sell a unit, according to Investar’s latest market report.
The property investment firm states that an average unit at Naremburn can expect to be on the market for 39 days before being sold.
This is followed by Kirrawee at 40 days and Greenwich at 41 days.
<table border="1" align="left"><tbody>
<tr>
<td>Suburb</td>
<td>Postcode</td>
<td>Dwelling type</td>
<td>Bedrooms</td>
<td>Days on market</td>
</tr>
<tr>
<td>Naremburn</td>
<td>2065</td>
<td>Unit</td>
<td>2</td>
<td>39</td>
</tr>
<tr>
<td>Kirrawee</td>
<td>2232</td>
<td>Unit</td>
<td>2</td>
<td>40</td>
</tr>
<tr>
<td>Greenwich</td>
<td>2065</td>
<td>Unit</td>
<td>2</td>
<td>41</td>
</tr>
<tr>
<td>Cremorne</td>
<td>2090</td>
<td>Unit</td>
<td>2</td>
<td>44</td>
</tr>
<tr>
<td>Queenscliff</td>
<td>2096</td>
<td>Unit</td>
<td>2</td>
<td>45</td>
</tr>
</tbody></table>
This list was produced using live on the market sales listing data.
It is also calculated at both a dwelling type and bedroom number level. It is designed to identify the fastest moving suburbs based on the average days a listing spends on the market at a suburb and property type level.
Low average days on market indicates that the market is turning over stock quickly which may indicate that demand is stronger than supply.
Units sold at Naremburn at the median price of $860,000 include a 2 bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-naremburn-121747878" target="_blank">23/25a Marks Street</a> (above) that was sold for $860,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-naremburn-122908430" target="_blank">25/19 Glenmore Street</a> (below) was also sold for $875,000.
<img src="/images/2016/10/07/2519%20Glenmore%20Street.jpg" alt="">
</body></html>

Naremburn fastest NSW spot to sell a unit: Investar

<html><body>
GUEST OBSERVER
The New South Wales Government is finally biting the bullet on rewriting the Building Professionals Act, the law governing the way buildings in the state are certified and deemed to be fire safe.
The decision follows the fatal 2012 Bankstown fire in an apartment block which had a litany of certification problems and a subsequent government review of the building certification process.
A young woman who was forced to leap from a window on the burning fifth storey of the Euro Terrace apartments died, with another young woman badly injured. When the NSW Deputy Coroner investigated the circumstances of the death he found significant failings in the current regulation of fire protection equipment and systems.
The building was 10 centimetres short of the 25-metre height where sprinklers become mandatory in units. The Deputy Coroner said sprinklers in the unit would have given the two women time to be rescued.
The inquest heard evidence that fire safety problems with the building had been identified in 2010 but nothing substantial had been done to improve it by the time of the fire.
The government then commissioned the review by former Treasury Secretary Michael Lambert who found practices for ensuring apartment fire safety were “totally ineffectual” and had led to the approval of unsafe buildings.
The government is finally acting on his report from last October, which was highly critical of the way in which commercial and apartment buildings in NSW are certified and deemed to be fire safe.
One of the changes recommended is more frequent audits and checks against building owners choosing and paying for their own certifiers.
This is long overdue. These arrangements create a conflict of interest. Allowing owners to choose and remunerate their certifier has the potential for abuse. Certifiers may choose to look the other way when the building owned by a developer who is paying them regularly has a fault which needs rectification.
There is also the issue of the skills of the certifiers. There is an absence of required qualifications and accreditation of people carrying out critical life-saving fire protection work which must be addressed. There needs to be regulation surrounding the accreditation of people working in the fire protection industry.
The owners of apartment buildings must be aware they have a role to play in keeping their building fire safe. They must be educated around the need to maintain and comply with fire standards.
This means ensuring their buildings have effective fire maintenance schemes with detection systems and other fire safety installations, such as extinguishers, hoses, exit lights and fire doors well maintained and up-to-date. Access to fire escapes must be clear at all times, with appropriate evacuation signage directing residents to exits.
Managing agents are accountable for the buildings they oversee, ensuring that fire safety standards are upheld and the fire risk assessment needs to be periodically reviewed.
Each year a qualified person such as a fire engineer or building surveyor must inspect the fire safety measures and provide a Fire Safety Installation Certificate to the owners. The annual Fire Safety Statement must be provided to the council and the NSW Fire Brigades, and must be prominently displayed in the strata building.
There are a number of older buildings which may not currently be subject to these requirements. However, many of these buildings will be subject to a development consent, construction certificate or fire safety order at a future date which may incorporate these requirements.
It is up to owners and managing agents to ascertain what is required. For older buildings that have not had a Fire Safety Schedule, a fire safety consultant can be engaged to conduct an audit on the building, to report on what is there and to suggest upgraded fire safety measures.
There is now greater emphasis on the records and evidence required by building owners to demonstrate regulatory compliance.
The New South Wales government says it will pursue more than 70 suggested changes. We look forward to their implementation.
Matthew Wrigley is managing director and licensee in charge of Perpetual Strata Management and can be contacted <a href="https://perpetualstrata.com.au" target="_blank">here</a>.
</body></html>

jchancellor-FAypfDUnLy

Property 101: Building certification under the blowtorch

<html><body><div class="entry">
Surveyors are calling on the Baird Government to reverse its decision to sell-off the New South Wales land title service.
The privatisation of Land and Property Information is expected to raise a billion dollars for the state’s coffers, but it’s claimed the biggest price may be paid by homeowners.
NBN's Georgina Smyth reports <a href="https://www.nbnnews.com.au/2016/09/26/state-sell-off-to-raise-a-billion-but-will-property-buyers-pay-too/" target="_blank">here</a>.
</div></body></html>

jonathanchancellor-7SQnKwU6yx

Property 101: The NSW LPI selloff concerns get an airing 

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The NSW Government will be the big winner of the sale of John Symond’s Point Piper mansion, according to the Real Estate Institute of New South Wales.
REINSW CEO Tim McKibbin said the NSW Government must be delighted by the news that John Symond has put his property on the market.
“NSW Premier Mike Baird and Treasurer Gladys Berejiklian must be rubbing their hands together with delight,” REINSW CEO Tim McKibbin said.
“With the property expected to fetch in excess of $100 million and stamp duty remaining unadjusted for bracket creep for the last 30 years, the NSW Government is expected to earn at least $6.94 million if the property is sold to an Australian or $10.94 million if sold to a foreign buyer.
“The sale of this property should prompt the government to finally address bracket creep, which would make such a difference to first homebuyers.
“NSW transfer duty revenue for 2015-16 was more than $1 billion over Budget at $8.887 billion and is budgeted at $8.777 billion for 2016-17. It is time to review stamp duty rates and help those who are trying to enter the property market,” Mr McKibbin said.
The property at 2 Wingadal Place, Point Piper was purchased by John Symond in 1999 for $10.89 million and has been listed with Bill Malouf of LJ Hooker Double Bay and Ken Jacobs, of Christie’s International. 
 
</div>
</div>
</div></body></html>

Property tax windfall for NSW Government following any Point Piper sale by Aussie John Symond

<html><body>
Uncertainty around the housing market has affected the cost of renovating in NSW with costs rising by just 0.8 per cent in the past year.
According to data released by ServiceSeeking.com.au, NSW costs have fallen below the national Consumer Price Index (CPI) for the same time period.
The state average for a tradie has stabilised at $60.25 an hour, 2.3 percent less than the national average of $61.65
It’s a great time to get stuck into your renovation plans, says ServiceSeeking.com.au.
 “If you’ve been dreaming of a new kitchen, bathroom, entertaining area or applying a new coat of paint to your house, then now is the time to take advantage of a slowing down in home renovation prices," said ServiceSeeking.com.au CEO Jeremy Levitt
It is cheaper to renovate in NSW than Western Australia ($67.34 up 1.8 per cent) and Queensland ($63.14 up 4.4 per cent).
Victoria is the cheapest and the only state to record a drop in prices by 2.2 per cent to $57.28.
The trades which bucked the trend in NSW were carpentry (up 11.3 per cent on the national average at $62.83 an hour) and painting (where prices were 10 per cent higher).
Other big price changes affected electricians - who were 9.4 per cent cheaper in NSW than the national average - and plumbing at 4.2 per cent cheaper.
The prices were derived by comparing 52,000 quotes submitted through the online services marketplace during the FY16 Q4.
To view price changes across 10 popular renovation services around the country, including major capital cities, see <a href="https://ib3.bislr.net/m?s=serviceseeking&amp;m=s_4e868d04-e38e-4d68-9756-a7b45fffcc78&amp;u=e1jq4wvfdtfm2e2174w3ee1k5n346ga45mu30ha25mw3ehhj5muk4dhr8cu4ad2568v46&amp;r2=d1u78w1u5wqqexvq5ttpawkpd5hpawv5cnnpjvk75thpyvkd5tgqabvjcnq6yxk1ehmpyvkk&amp;n=1" target="_blank">www.serviceseeking.com.au/renovations</a>
 
<img src="/images/2016/08/03/Screen%20Shot%202016-08-03%20at%209.28.37%20AM.png" alt="">
 
</body></html>

How much to pay your tradie? NSW cheaper than national average for renovations

<html><body>
The Central Coast region has plenty to offer for both owner-occupiers and investors looking to buy at around the $500,000 mark, say valuation firm Herron Todd White in their July 2016 residential market report, which examines properties under and around half-a-million dollars.
“The northern end of the region probably offers more value for money if a more modern style of home is needed. Think of Blue Haven, Hamlyn Terrace and even the odd property in Woongarrah,” says the HTW report.
These are all close to the M1 Freeway and $500,000 will secure a single level, three- or four-bedroom brick and tile home with double garage on an average size land parcel. 
Similarly close to the freeway is Mardi, in some ways the unsung hero of the region where a similar buy-in will secure a good 3- or 4- bedroom home close to the rail station and a regional level shopping centre. 
The days of cheap buys are almost behind us in the older areas of Budgewoi, Halekulani, Buff Point and San Remo, but $500,000 still buys a lot in these areas and the rental returns work well for the investor. 
Toward the middle section of the region but closer to the water are the suburbs of Bateau Bay, The Entrance and Long Jetty. These locations all offer something different. Only the quick or those on a real estate agent’s database are likely to secure a $500,000 buy in Bateau Bay, but they do come up occasionally. It will probably entail an older dwelling with some work required, but Bateau is one for the astute to be aware of. When looking at The Entrance, a spend of $500,000 gets a two- or three-bedroom unit with at least lake views and often an ocean view. Just be diligent with checking the repairs register though as some of the unit complexes here are at the age where repairs are needed and requests for sinking fund top ups can be hefty at times. Ouch! 
“Killarney Vale and Berkeley Vale are good, solid suburbs with equally good facilities and a good vibe for younger people and families. $500,000 buys are becoming limited, but are still around and it is our recommendation to look here. Expect an older dwelling with 3-bedrooms and room to improve. “
As we move down the coast toward the southern end, buys at around the $500,000 mark become harder. They are still available, but just harder to find and we are reminded of the importance of getting onto the buyer’s database of a few agents to receive information on these properties as early as possible. 
If the famous Terrigal is on the radar, then there will be a little disappointment here if $500,000 is the limit but there are still buys at around this amount - usually an older unit or small unit. Even the price of vacant land is nearing $500,000 in Terrigal, if you can find a vacant parcel that is. 
So to for the fabulous Peninsula locations of Umina Beach, Ettalong Beach, Woy Woy and Booker Bay. 
“In years gone by, almost everyone had old aunts, uncles or grandparents at Umina, but those days are nearly gone as the prices being achieved are getting beyond this and sadly, $500,000 buys are becoming rare.
“Our records show the odd buy at this level, but these are mostly for older villas or houses which are not to be ignored in terms of value, but the point being made here is that the market is limited at around $500,000.”
Best buys for around $500,000 on the southern end of the coast include Narara, Niagara Park and Wyoming. These are good locations which are close to services and schools. With the recent strong market, these areas have come into their own and we are seeing cashed up singles, young families, renovators etc moving in. Investors are also well advised to look carefully at these areas. 
“We don’t see much future infrastructure improvements likely in the immediate area, but the Gosford City Centre is very close by and notwithstanding we are in full federal election mode with a new promise made every day, there is action aplenty here in the short term with or without the election.”
Kariong has for some been the go to area for affordability. It is a gateway suburb which adjoins the freeway to Sydney. Prices in Kariong have jumped and it is becoming harder to secure a sub-$500,000 purchase, but they are still around for those quick enough and again, we recommend getting onto the database of the local real estate agent. Expect to find a reasonably good three-bedroom home or tidy villa for $500,000 which may suit the investor. 
As an example of a recently sold sub-$500,000 property, Property Observer found a four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-blue+haven-122982990" target="_blank">71 Kawana Avenue, Blue Haven, NSW 2262</a> which traded hands for $476,000.
<div class="propertyStats"> </div>
</body></html>

NSW Central Coast has plenty of property options under $500,000: HTW

<html><body>
If you are looking to park your lazy half-a-million dollars in NSW’s Bathurst/Orange, the $500,000 still makes a large percentage of the residential market, according to property valuation firm Herron Todd White’s July residential market report.
The majority of new four-bedroom homes continue to be sold for less than this amount, although the proportion between $450,000 and $500,000 is increasing. This may be a reflection of the limited growth in incomes in the region, as they are reported to be across the Australian economy. This affects borrowing capacity which in turn determines what money is available in the market. This has more weight in the local market given that the region is not as sought after by wealthy migrants or overseas investors, except in the field of agriculture. The upside of this is a relatively stable market that has seen some increases over the past 12 months. 
“Investor activity has increased with investors chasing yields not available in Sydney, particularly as they may be able to purchase two properties for $500,000 instead of one,” the HTW report says.
If house prices are looked at in terms of years of average income, then $500,000 is a significant point above which mortgage stress is likely to be felt keenly by people on average incomes. If we consider that the median sale price for the region is between $300,000 and $400,000 then we can say that the region does not have an affordability problem. Having said that, it is unlikely to be enough for a few acres on the fringe of town. Such properties continue to enjoy strong popularity and are considered to be aspirational properties for a large percentage of the market. Such properties also benefit disproportionately from Sydney tree changers. 
Land values for well located central properties have increased more than the average if recent sales of such properties for redevelopment are used as a guide. 
“Our advice would be to find the area that has the most builders’ signs, indicating a renovation or redevelopment, and see what is available for under $500,000 in that area. Investigating Council approvals may be a more targeted approach,” conclude HTW.
Property Observer found a recent sale in the sub-$500,000 range at <a href="https://www.realestate.com.au/property-house-nsw-bathurst-122746290" target="_blank">49 Barker Circuit, Bathurst, NSW 2795</a>. This four-bedroom, two bathroom house sold for $431,000.
<div> </div>
 
</body></html>

NSW

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

NSW