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

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The NSW Government is set to sell its Land and Property Information (LPI) unit in 2016.
NSW has JPMorgan undertaking a scoping study on the sale, according to the Australian Financial Review column, Street Talk. 
LPI provides all mapping, titles and other related land information services for NSW.
While the sale of the state's LPI would be the first sale of its kind in Australia, Victoria and South Australia are also consider selling their own land titles offices. 
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The AFR suggest that the NSW LPI is likely to be worth $500  million.
In 2014-15 some 900,000 plus dealings were lodged for registration, marking a 6.7 per cent increase on already strong volumes in the previous financial year.
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jchancellor-FAypfDUnLy

NSW LPI to be sold with $500 million hopes

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Former Australian cricket captain Michael Clarke joins model Jen Hawkins in becoming an ambassador for Johnson Property Group as he announces he has bought into the new development Trinity Point.
<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/2015/11/23/clarke.jpg" alt="" width="567" height="344">
Caption: Johnson Property Group Managing Director, Keith Johnson and former Australian cricket captain Michael Clarke
The new $388 million mixed-used marina development is located in Lake Macquarie, 88 minutes drive north of Sydney and 30 minutes from Newcastle.
The community comprises a mix of five-star resort, hospitality, retail, residential and marina components.
He bought a three storey, four bedroom terrace off the plan. It cost $1,388,888.
"“Trinity Point is going to become an absolute Sydney weekend hotspot – another Palm Beach or daytrip destination but with more of a marina-lifestyle resort focus,” he said.
“We are absolutely delighted to be the first buyers to secure a stunning lakeside home at Trinity Point and are already planning our family holidays and weekend trips away staying in our beautiful three storey terrace house with views out over Lake Macquarie.” 
<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/2015/11/23/700_trinity.jpg" alt="" width="524" height="318">
Trinity Point will be home to a diverse range of architecturally designed residential properties including a variety of terraces, apartments and waterfront reserve properties.
The announcement comes prior the the launch of land sales at Trinity Point which will take place on November 29 on site. The first release will comprise a total of 32 land lots, priced from $398,888 ranging in size from 450 square metres to 660 square metres, offering the ultimate in lakeside living.
To register for interest in land or apartment sales at Trinity Point, register at trinitypoint.com.au
Once completed, Trinity Point will include 189 residential land lots, 250 residential and short stay apartments and a five star, 65 room Pullman resort.
The new development will also feature a 200-seat restaurant with outdoor dining, a 300 seat function room, a 60-80 seat cafe and resort facilities including a luxury day spa, pool and gym.
Clarke, who retired from all forms of cricket in August, and his wife Kyly currently own in Vaucluse after spending $8.3 million on the five bedroom luxury property last year. 
<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/2015/11/23/700_stroll.jpg" alt="" width="534" height="324">
Last October the former Miss Universe Jennifer Hawkins was announced as the face of the $388 million Trinity Point marina project at Lake Macquarie. "As a local girl, I think Trinity Point is going to be really special," the brand ambassador Jennifer Hawkins, who grew up at Holmesville, said.
Her parents had bought at Holmesville in 1972 for $2300, and she she had spent time on the shores of Lake Macquarie where her “pop” had kept a house on the lake with jetty in her youth.
"The product is going to be top notch," she said.
Keith Johnson is the developer of Trinity Point, which is accessed via the M1 Morriset motorway turnoff.
The Morriset Park project was first announced in 2006 for the site formerly known as the St John of God holding.
The NSW government approved a concept plan six years ago for the 23 hectare site which is around an hour and a half from Sydney and 30 minutes from Newcastle.
Upon completion, Trinity Point is planned to include:
<ul>
<li>189 residential land lots and medium-density housing</li>
<li>250 apartments comprising of a mix of residential and short stay units</li>
<li>188-berth marina </li>
<li>5 Star 65-room Pullman Trinity Point Resort</li>
<li>200-seat restaurant with additional outdoor dining</li>
<li>300-seat function room</li>
<li>60-80 seat cafe</li>
<li>5-star resort facilities including a luxury Day Spa, pool, gymnasium</li>
<li>Retail</li>
</ul>
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Michael Clarke buys investment weekender at Trinity Point

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The Doughboy Mountain cattle farm in the New England district has been sold by the Salter family to TA Field Estates, the Sydney-based company headed by Michael Field for $7.65 million.
TA Field also secured the neighbouring O’Connor family’s Mirrugalee paying $2.75 million.
The Doughboy farm was redundant to the Angus breeding business started by the late Salmat marketing company co-founder, Phil Salter in 2007 when Towal Creek Station on the Macleay River on the mid-north coast was bought. 
Consisting of 1,350 hectares between Armidale and Ebor, Doughboy Mountain runs pasture fed quality black Angus with carefully chosen genetics.
With lush paddocks on the Wongwibinda road, Landmark Harcourts Boulton Walcha agent Bruce Rutherford says its an opportunity to purchase the highly regarded property at a time when analysts predict much higher returns in agriculture.
The farm was bought in 2010 at $6.9 million from the pioneering Wright family.
Auctioneer Damien Cooley knocked the farms down at Friday auction.
Doughboy Mountain equated to about $5658/ha ($2290/acre) and Mirrugalee $5092/ha ($2057/acre).
TA Field has other rural holdings in the nearby Walcha district.
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Doughboy Mountain sells to TA Field Estates

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The Quirindi property, Little Kickerbell with lavender field on the NSW Liverpool Plains, has been listed for December 5 onsite auction.
The historic homestead, originally built by the Australian pioneering Blaxland family in 1835, has been recently renovated by Sue Stone and John Cockburn.
<a href="https://www.realestateview.com.au/Real-Estate/2729-bundella-road-quirindi/Property-Details-buy-residential-9738197" target="_blank">The weatherboard and stone homestead</a> has six bedrooms with five fireplaces. There's a billiard room and large dining room which has the capacity to seat up to 40 people.
It has wrap around verandas overlooking gardens that come with an old meat house, ideal for a studio.
The home and infrastructure lend themselves to country home stay accommodation.
Little Kickerbell is a three hour drive from Newcastle and just under 4 hours' drive north-west of Sydney at 2729 Bundella Road.
The property consists of 13 ha highly suited to the equestrian enthusiast. The property has the capacity to carry about 15 head of cattle.
It has been listed through Adam O’Regan at Landmark Harcourts Scone.
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Little Kickerbell on the Liverpool Plains listed for auction

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The weekend was a significant one for the Litchfield family of Hazeldean, 150 years since James Litchfield established Hazeldean on the Monaro.
Now into the sixth generation of Litchfields at Hazeldean, this year's 150th Anniversary Hazeldean Ram Sale was held on Saturday October 31. 
In 1865 James Litchfield founded the Hazeldean Merino Stud on Rambouillet bloodlines. The Hazeldean Angus stud was then added into the mix in 1952.
<a href="https://www.hazeldean.com.au/hazeldean-150.php" target="_blank">Jim Litchfield</a> said in a specially produced video that he was "very proud" of his families long history and "amazed" they are still running the same flock.
Earlier this year The Land reported the reason for the longevity of the family business was a mixture of innovation, while simultaneously identifying and avoiding the fads and trends that come along at regular intervals; hard work, and remaining hands-on in the operation of the business.
He noted also that having a close family over several generations that was committed to seeing the business maintain it's scale and viability was integral as well.
Taking up the role of stud sheep overseer, Bea Litchfield returned home in 2015 to Hazeldean after four years studying B. Ag. Sci at UNE and Sydney University. She has spent time in Canada and worked on RA Brown Ranch in Texas. 
Libby Litchfield is responsible for cattle registrations and data submission.
He said the employees of Hazeldean had also had a major impact. 
"We are enjoying a very good year on the Monaro," he added.
Hazeldean has three properties in New South Wales, two in the Monaro region of south eastern NSW near the town of Cooma Hazeldean and Myalla and the other in the Riverina district near the town of Hay, called Rosevale.
Cooma is the headquarters of the business and holds the main breeding unit for Hazeldean Angus and Hazeldean Merinos.
The Riverina property, Rosevale, also contains a breeding herd of Hazeldean Angus and a branch of the Hazeldean Merino stud flock.
Rosevale is also the breeding base for Hazeldean Senegus.
 
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Litchfield's 150th Hazeldean celebrations

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Details on the sale of Tongy Station, the 4,637 ha property located in northern NSW at Merriwa, have started to emerge.
Property Observer <a href="/news/tongy-station-merriwa-under-offer">reported last week it was under offer</a> having been offered with $20 million plus hopes. The bush telegraph suggests close to $24 million.
Its buyer has been confirmed as an Sydney investor, amidst strong competition from across Australia and abroad, selling agent, Richard Royle of Colliers International said.
“The buyers, who wish to remain confidential, are a Sydney family with existing rural interests in Australia. It will provide the new owners with an enviable lifestyle and a premium agricultural asset.” 
“We conducted 27 inspections over the five week campaign, and received 13 offers.
"Some  85% of the offers submitted were from domestic buyers, however, we experienced interest from across the globe, ranging from wealthy individuals, to family offices, companies and funds.“
The talk is it has stayed within the establishment family, a familial buyer.
Tongy Station, professionaly managed by Mutual Trust who also assisted with the sale, dates back to the 1820’s, when Richard Fitzgerald, an ex-convict who arrived on the third fleet in 1791, was lead to Tongy by local Aborigines. 
In 1825 he was granted freehold title of Tongy by Governor Bourke for his services to the colony through Agricultural management. W. L. Baillieu, relative to one of the oldest families in Victoria, purchased Tongy in the 1920’s from Richard Fitzgerald’s five granddaughters and it has remained in the Baillieu family ever since. 
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Familiar Sydney pastoral investor buys Tongy Station at Merriwa

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The Victorian establishment Baillieu family have listed Tongy Station, at Cassilis near Merriwa in northern NSW.
It has been listed for the first time in almost 100 years, with expectations <a href="https://www.realestate.com.au/property-mixed+farming-nsw-cassilis-7758509" target="_blank">the 4637-hectare station</a> that breeds Hereford and Merino stock could fetch more than $20 million.
Located on the banks of Talbragar River, the property features a Victorian standstone homestead amid manicured gardens. 
Tongy dates to 1825, when former convict Richard Fitzgerald was granted freehold title of the property by Governor Bourke for his services to the colony through agricultural management. 
Colliers International's Richard Royle is handling the sale with offers due September 14.  
The Baillieu family bought the property in 1923, The Land reported.
It was secured from Fitzgerald's five grand daughters. 
This Australian Dictionary of Biography described Richard Fitzgerald (1772-1840), convict, public servant and settler, as <a href="https://adb.anu.edu.au/biography/fitzgerald-richard-2048" target="_blank">one of the most remarkable men to settle in early New South Wales</a>. 
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<div><img src="https://m.c.lnkd.licdn.com/mpr/mpr/jc/AAEAAQAAAAAAAAZCAAAAJDAwNzA0Y2UzLTYxMDQtNDVlYi1iNWMzLWQyNjQxMzQ0MDAxOQ.jpg" alt="Tongy Station"></div>
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The family owns Yarram Park, one of Victoria’s largest working sheep and cattle stations. 
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Tongy Station, Merriwa offered with $20 million plus hopes

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The fastest selling private treaty market for houses in New South Wales is the western Sydney suburb of Acacia Gardens with an average 15 days on market with a median price of $660,000.
According to CoreLogic RP Data, Werrington followed with a median of $478,000 with 17 days on market, Winston Hills with a median of $811,000 and 18 days on the market and Milperra with 19 days on the market and a median price of $725,000.
<a href="/news">Acacia Gardens</a><a href="/news"></a> is 40km west of Sydney's CBD at the southern end of the Hills District.
 
<a href="/images/2015/07/25/Screen%20Shot%202015-07-25%20at%209.26.00%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/25/Screen%20Shot%202015-07-25%20at%209.26.00%20PM.png" alt="">
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jonathanchancellor-7SQnKwU6yx

Acacia Gardens NSW's fastest selling suburb for houses

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The recent inner west auction activity is securing auction sales running at around 90%.
The NSW Central Coast is the weakest region with its auction success rate sitting at around 58%, according to the latest CoreLogic RP Data figures.
<a href="/images/2015/07/13/sydney_RP.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/13/sydney_RP.jpg" alt="">
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Inner west remains Sydney auction room engineroom: CoreLogic RP Data

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Figures from the Rental Bond Board appeared to show that the supply of rental accommodation was below growth trends for NSW. With this is mind what do the median rental statistics collected by the board reveal? 
A number of interesting trends emerge. In 2010-11 the areas with the highest median rentals were the South Sydney and Upper North Shore. However between 2011-12 up until the most recent figures for 2013-14 it has been the Eastern Suburbs that consistently records the highest median rents. 
In the Board’s figures the Eastern Suburbs covers a very diverse area across postcodes 2021-2036.
According the Board’s figures the median rental across this area is $610, and while rents have been on the rise, given the area’s diversity across suburbs like, Paddington, Moore Park, Little Bay, East Gardens, Vaucluse, Watsons Bay and Bondi the range of rents would be wide-ranging.
However what is more interesting is the general trends of median rents across the metropolitan area between 2010-11 and 2013-14, interesting because the figures show, somewhat surprisingly that the growth in median rents has been slowing. In 2010-11 the increase was 4.5% and in 2011-12 4.3%. However in 2012-13 the figure fell below 4% to 3.1% and in 2013-14 the increase was 2.9%. 
Over the same period there have been suburbs where median rental growth in the top five areas has been both above and less than the metropolitan figures. Looking at the Board’s figures here are some of the notable figures.
Rental Growth
All of the figures following are taken from figures published by The Renal Bond Board in its annual report.
In 2010-11 median rental growth across metro Sydney was 4.5% at $460.00, with some notable variations among the top three postcode groupings as follows: 
<ul>
<li>Eastern Suburbs, Lower North Shore &amp; Mosman/Cremorne all increase by 10% to $550.00</li>
<li>South Sydney &amp; Upper North Shore grew by 9.8% to $560.00</li>
<li>
Inner Sydney 5.7% to $560.00 
</li>
</ul>
In 2011-12 median rental growth was 4.3% to $480.00, and the top three postcode groupings were:
<ul>
<li>Many/Warringah grew by 5.8% to $550.00</li>
<li>Eastern Suburbs grew by 5.5% to $580.00</li>
<li>Lower North Shore grew by 4.5% to $575.00</li>
</ul>
Across this period it is notable that in three areas – Inner Sydney, South Sydney and Upper North Shore the Board’s figures showed no growth.
In 2012-13 rental growth fell to 3.1% to $495.00, the top three postcode groupings were:
<ul>
<li>Inner Sydney and South Sydney at 5.4% to $590.00</li>
<li>Eastern Suburbs at 3.4% to $600.00</li>
<li>Lower North Shore 1.7% to $585.00</li>
<li>Upper North Shore 1.7% to $570.00</li>
</ul>
Again it was notable that the Inner west showed no growth.
The most recent figures for 2013-14 growth fell again to 2.9%,a cross the metro region the median rental was $510.00 and the top three groupings were:
<ul>
<li>Inner West grew by 4.3% to $575.00</li>
<li>Many/Warringah at 3.4% to $580.00</li>
<li>Mosman/Cremorne at 2.5% to $590.00</li>
</ul>
In the same period rents on the Lower North Shore, according to the Board’s figures dropped by (0.9)%, which was the only negative result over the total period between 2010-2014.
Supply Catches Up
The big increases in 2010-11 (at 10% in some areas) have not been repeated, and this would appear to reflect more properties in particular apartments coming onto the market along with a rise in the number of investment properties being sold.
Currently the gap between the least and most expensive market is modest, based on median rentals $35.00 with Fairfield/Liverpool and Canterbury/Bankstown the most affordable and the Eastern Suburbs the most expensive market followed closely by the Inner Sydney and South Sydney, with both theses areas seeing a big increase in apartment developments.
It is also interesting to note that the gap between the least and most expensive rental markets has remain constant, although since 2010-11 the Upper North Shore has lost it’s spot as among the most expensive rental markets.
However we need to go to the country median rentals to see the most volatile figures, because in 2010-11 rents in Mudgee grew by 19.5% and in the following year by 14.1%, but in 2013-14 rents fell by (20%), which would largely reflect the changing fortunes of the mining industry. 
For the metro Sydney market, the demand for rental accommodation and rents continue to rise, although the patterns are not uniform. Some areas of the market have and will continue to see new developments added both as apartments and houses in new estates, as these remain popular with investors. 
The details and values outlined come from a very big pool of tenants as the Rental Bond Board looks after more than 726,337 tenancy bonds, and so the figures are a valid reflection of the wider rental market.
Given all of the activity across our property market in the last 12 months the Board’s report for 2014-15 should reveal some interesting trends.
<div class="entry-content">
To read the final part of Peter's two-part post, click here.
Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.
</div>
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