Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Perth

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Perth retains its title as the most affordable capital city rental market with no changes to house and unit rents over the quarter or year, according to the latest rental report from Domain.
The report found Perth’s median house rent is sitting at $350 while units are also flat at $300 per week.
This is the sixth consecutive quarter of flat unit price movement for the capital city.
Gross rental yields for houses continued to improve over the quarter and over the year at 4.26%.
Gross rental yields for units declined over the quarter to 4.58% but continued to improve year-on-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/2018/10/10/domain%20perth.jpg" alt=""> Domain Senior Research Analyst, Dr Nicola Powell said:
"Perth tenants will find themselves with less rental choice as advertised rental listings have been dwindling for over a year.
"A broader tightening of the rental market appears to be occurring due to a slowdown in dwelling commencements and investor activity remaining relatively stagnant.
"This has seen tenants absorb the existing rental stock.
"Rental prices have been deteriorating since 2014 following the state’s challenging economic conditions.
"However, this is the first time both property types have displayed a more positive sign with rents holding steady over the quarter and year." 
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j.ballantyne1990-6AQqhLzZaK

Positive signs for Perth as rental prices holding steady: Domain

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Of all the capital cities, Perth remains the one with the weakest clearance rate.
The initial results came in at 13 percent of the homes listed for weekend auction.
Some 32 homes were taken to auction in Perth but only two were confirmed as sold in the 15 available auction results.
There were some 17 auction results still unavailable.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%201.JPG" alt="">
This compares to an overall clearance rate of 50 percent on the 1,850 homes taken to auction across the combined capital cities this week.
Compared to last week, where the final auction clearance rate came in at 49.5 per cent across a slightly lower 1,817 auctions.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%203%20uncut.JPG" alt="">
In Perth <a href="https://www.realestate.com.au/property-house-wa-subiaco-129364294" target="_blank">10 Allora Avenue, Subiaco</a> (pictured above in title), did not sell despite the listing stating "MUST BE SOLD."
The four bedroom two bathroom house is set on a 309 sqm parcel and had no available asking price.
Last sold in 2015 for $1,475,000, the home has been on and off market since 2017 and was listed for rent at $1000 per week as recently as September.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%205.JPG" alt="">
Another home that was unsuccessful at auction in Perth this weekend is <a href="https://www.realestate.com.au/property-unit-wa-highgate-129322870" target="_blank">24/288 Lord Street, Highgate</a> (pictured above).
The "brand new" two bedroom, 1 bathroom unit built in 2015 was asking for offers around $369,000.
Set on 85 sqm the apartment that previously held that space sold for $485,000 in 2013, making this asking price a drop of over $100,000.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%206.JPG" alt="">
Even one of the properties that sold couldn't be classified as a success, <a href="https://www.realestate.com.au/property-house-wa-ascot-129333214" target="_blank">28 The Riverwalk, Ascot</a> (pictured above) was sold by the mortgagees for a loss.
The home sold for $900,000 a loss of $220,000 from its sale price of $1.12 million in 2007.
The four bedroom one bathroom house is set on a 495 sqm block and has been listed on and off since 2010.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%207.JPG" alt="">
The only other home to succeed in selling was a deceased estate located at <a href="https://www.realestate.com.au/sold/property-house-wa-marangaroo-129344830" target="_blank">39 Mereworth Way, Marangaroo</a> (pictured above).
Set on 720 sqm, the three bedroom one bathroom home is zoned R20/40 and according to the listing has potential for 3 townhouse/units.
Last sold for $99,000 in 1989 the home was sold via an online auction.
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jchancellor-FAypfDUnLy

Perth agents secure just two sales in 13 percent weekend auction success rate

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Woolworths Group Limited has sold its Woolworths Aveley shopping centre located in Western Australia for $26,925,000 to a private investor.
The sale of Woolworths Aveley represents the sharpest initial yield ever recorded for a neighbourhood shopping centre in Western Australia over $20 million, at 5.81%, claimed selling agents Cushman &amp; Wakefield.
Completed in 2016, Woolworths Aveley is a 4,919-square-metre centre with a near 100% occupancy rate, anchored by a full-line Woolworths supermarket with a 12 year lease term, BWS on a long-term lease, plus eight specialty stores, two kiosks, one ATM and a pad site medical centre.
The asset attracted strong levels of interest due to its location within an award-winning masterplanned residential community known as Vale Aveley, developed by Stockland.
The campaign attracted over 100 enquiries from local and off-shore investors with several offers received at the close of campaign. The terms of sale included an unconditional exchange with seven days due diligence period.
Neighbourhood shopping centres remain one of the most liquid asset classes, with 16 transactions completed during Q2 and Q3 2018 totalling more than $505 million.
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Perth neighbourhood shopping centre sells for nearly $27 million

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Over the June 2018 quarter, resales of residential properties in Perth created $876 million worth of resale profits which accounted for 5.6% of resale profits nationally, according to the latest Pain and Gain report from CoreLogic.
The report noted, Perth also created $109.8 million in loss making resales accounting for 23.4% of all losses nationally.
<img src="https://www.urban.com.au/images/2018/9/18/CL%20PG%20PERTH%201.JPG" alt="">
The regions of the city with the fewest resales at a loss over the quarter were: Cottesloe, Fremantle and Bassendean, while the highest share of resale losses were in Peppermint Grove (based on only one sale), Perth and Kwinana.
Perth has continued to see values fall over the quarter and subsequently resale losses have also risen.
<a href="https://www.propertyobserver.com.au/images/2018/9/18/CL%20PG%20PERTH%202.JPG" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2018/9/18/CL%20PG%20PERTH%202.JPG" alt="">
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Perth accounts for almost a quarter of all losses among Australian sellers: CoreLogic

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A West Perth office building is being marketed via a Savills roadshow to Asia.
The property 76 Kings Park Road, set on the corner of Kings Park Road and Thomas Street, has been under the same ownership for more than 18 years.
The Robert Cann &amp; Associates-designed five-level property has a net lettable area of 3,640 square metres.
It is 76% leased with tenants including DownUnder GeoSolutions (DUG).
"We estimate a fully leased net income of about $1.53 million per annum,” Savills agent Nick Charlton said.
West Perth office vacancy rates have dropped from 16.7% in December 2017 to 15.8% in June 2018.
“The re-centralisation of tenants from suburban locations and recent stock withdrawals in West Perth will continue to drive this trend through the remainder of 2018,” Savills agent Barney Dear said.
“This uptick in leasing demand is flowing through to transaction activity, as local and offshore buyers increasingly adopt a positive view on the precinct.
Savills have noted more than $70 million of property transact in West Perth in the third quarter of 2018, including 1 Havelock Street and 18-32 Parliament Place, which are both in due diligence, along with the recent sale of 87 Colin Street.
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Savills to market West Perth office with Asian roadshow

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The Perth market is showing signs of improvement, says REIWA.
The vacancy rate has dipped to 4.5% - the lowest since April 2015, says REIWA President Hayden Groves.
“What we are seeing is a steady yet healthy improvement in tenant activity,” Groves said.
“Steady rents, easing supply as listings for rent continue to fall and stronger demand with more leasing activity all point to the rental market leading Perth’s property market recovery.”
REIWA’s data also shows that leasing activity is up 17% in August, while the media rent remained steady for the 17th consecutive month at $350 per week.
Groves said that the rental market across the city is stabilising, while he suburbs of Leederville, Glendalough and Secret Harbour experienced the most significant growth in leasing activity during August.
“Leederville had more than double the amount of properties leased from July to August, with the volumes increasing by an impressive 18%,” Groves said.
“Typically, as we move into these warmer spring months, the property market should see an overall uplift in activity, and historically the sales market follows the rental market during a recovery.”
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Perth rental market improves in August: REIWA

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Price growth in the Top end suburbs can often be a signal for an emerging growth cycle in a city market. 
Certainly, the booms in both Sydney and Melbourne started in the most expensive areas and rippled out to the middle-ring and outer-ring areas over time. 
This is because real estate growth comes from events in the local economy. When the underlying economy in a major city starts to thrive, the first people to benefit are the business owners and others with above-average incomes - and that translates into purchases in the prestige suburbs.
So we think it is significant that, while prices remain suppressed in Perth overall, many of the millionaire suburbs have seen good price growth in the past year. This is also a feature in Adelaide: price growth overall has been moderate but prices have been rising strongly in the Top End suburbs.
It’s much less prevalent in the Brisbane market, which is struck in second gear and struggling to accelerate.
One factor evident in our latest analysis of sales activity and prices is that there is growth in the upper end of the Perth market. The latest data shows that several Perth suburbs with median house prices above $1 million have recorded strong growth in their medians in the past 12 months. 
This trend is widespread across the prestige market. Suburbs with strongly rising prices include Nedlands, Applecross, Cottesloe, Dalkeith and Bicton. 
Confidence that the upturn is sustainable comes from revival in the mining sector and the large numbers of jobs being created. As the WA economy improves, businesses thrive and business people become more confident in their real estate purchases.
This suggests that Perth generally can look forward to a return to price growth in the near future. This is supported by recent reports from Knight Frank, SQM Research and the Real Estate Institute of WA.
In Adelaide, while sources such as CoreLogic and SQM Research report annual growth of only 1-2% in Adelaide house prices, these generalised figures disguise individual areas which have done better.
It’s noteworthy that several millionaire suburbs have recorded major growth in their median house prices in past 12 months.
Glenelg South, Kensington Park, St Georges, Erindale, Henley Beach South, Hyde Park, North Adelaide and Hazelwood Park all have median prices above $1 million and have had median price growth above 20% in the past year. Other upper-level suburbs like Glenunga, Norwood, Parkside, Beaumont and Crafers have had growth above 10%. 
Some suburbs have had median price growth above 35% (and one above 40%) but based on small sales samples so we think this may be misleading.
In Brisbane, however, only a handful of popular inner-ring suburbs (e.g. Ashgrove, Paddington and Bulimba) have recorded double-digit growth in median prices in the past year.
Some examples of rising markets in the Top End of some capital cities:-
Click here <a href="https://www.propertyobserver.com.au/images/2018/8/21/ryder2.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/8/21/ryder2.jpg" alt="">
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

Prestige markets rising in smaller cities like Perth and Adelaide: Hotspotting's Terry Ryder

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Perth’s median house and unit price increased, according to reiwa.com data.
REIWA President Hayden Groves said reiwa.com data indicated Perth’s median house price would settle at around $520,000 for the June 2018 quarter, which was up 1% compared to the March 2018 quarter and 2% compared to the June 2017 quarter.
“In addition, Perth’s median unit price is expected to lift by 4.9% to $419,500 for the June 2018 quarter, which is 2.3% higher than the same time last year," Groves said. 
"After declining during the March quarter, it’s pleasing to see prices rebound strongly this quarter.
"With the worst of the market downturn appearing over, the improvement in house and unit prices this quarter suggests buyer confidence is returning which should bode well for sellers as we move into spring.”
Sales activity reiwa.com data shows there were 6,900 sales recorded during the June 2018 quarter.
Sales volumes have declined during the June quarter, with the onset of winter having likely contributed to subdued activity levels.
Despite the overall decline in sales, numerous suburbs recorded more sales this quarter than they did last quarter.
The suburbs with the biggest improvement in house sales were North Perth, Queens Park, Singleton, Camillo and Beldon, while West Perth, Balcatta, Rockingham, Claremont and Mount Lawley had the biggest improvement in unit sales.
The composition of sales shifted during the June quarter, with more house sales recorded in the $800,000 and above price range than last quarter.
There were 14,382 properties for sale in Perth at the end of June 2018.
Groves said stock levels across the metro area had declined 1.1% during the quarter.
“We certainly appear to have hit the ceiling as far as listing stock is concerned. Despite fewer sales being recorded this quarter, it is encouraging to see stock levels have continued to be absorbed,” he said.
It took an average of 67 days to sell a house in Perth during the June quarter which is one day faster than both the March 2018 and June 2017 quarters.
Data from reiwa.com shows the proportion of vendors who had to discount their asking price in order to achieve a sale declined by five% between the June 2017 and 2018 quarters.
“With reductions observed in average selling days and discounting, this is a good indicator sellers are listening to the advice of their agents and pricing their property in line with market expectations,” Groves concluded.
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Perth dwelling prices rebound slightly, hinting that downturn may be over

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A one per cent decline over the year in Perth’s median house price leaving it at an estimated $520,000 this June, according to a report released this week from BIS Oxford Economics.
This was the lowest since the market peaked in 2013/14.
Between June 2014 and June 2018, Perth’s median house price declined by 13 per cent.
The report notes that , in real terms the Perth median house price is 24 per cent below its peak in March 2007, which highlights the extent of the weakness in the Perth market over the past decade.
“House prices in the Perth market appear to be bottoming out,” said Angie Zigomanis, head of BIS Oxford Economics' residential research unit.
“The rate of price decline has slowed, net overseas migration inflows have returned to growth, while the interstate migration outflow has peaked and is now improving.”
Perth’s vacancy rate peaked at 7.1 per cent in June quarter 2017 and remains high at 5.1 per cent in March quarter 2018, well above the generally accepted balanced market rate of around three per cent.
According to the BIS oxford economists, rental prices have also collapsed with the median three-bedroom house rent, and median two-bedroom unit rent falling by 31 per cent and 29 per cent respectively, from their 2013 peaks.
As well as rising population growth, employment growth looks to have returned in 2017/18 after declines in the prior two years.
Successive years of price declines means that affordability has improved.
Nevertheless the report suggests that despite these positives, any recovery in the Perth market will be a long, slow, grind as the city has to work through a significant oversupply as well as a modest economic recovery.
As a result, minimal growth is forecast in 2018/19 and 2019/20, before some stronger growth emerges toward the end of the forecast period in 2020/21, with total growth in the median house price of ten per cent forecast in the three years to June 2021, or just keeping up with inflation.
A lower rise of five per cent is expected for the median unit price, or a three per cent real decline (factoring inflation).
For a look at our take on the BIS Oxford Economics report for the national market check out, "<a href="/expert-insights/buying/melbourne-house-prices-forecast-to-tread-water-through-to-2020-21-bis">Melbourne house prices forecast to tread water through to 2020/21</a>".
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Perth's decreasing housing prices doggedly slog towards improvement: BIS Oxford Economics

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<div class="page" title="Page 1">The Westin Perth and Aloft Perth, two of Perth's leading hotels, have been listed for sale </div>
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<div class="page" title="Page 1">The Westin Perth (above) is one of Australia's newest five star hotels, east of the Perth CBD in the city's heritage quarter.</div>
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<div class="page" title="Page 1">JLL's Mark Durran, who is marketing the Westin, says an asset of the calibre and size has rarely been seen in Australia.</div>
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<div class="page" title="Page 1">"The hotel sets a benchmark in terms of quality for new 5-star hotels around the country and the Asia Pacific Region."</div>
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<div class="page" title="Page 1">It has 386 hotel rooms, furnished with 55-inch flat TVs and bathrooms with ran showers.</div>
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<div class="page" title="Page 1">The Westin has Perth CBD's largest hotel ballroom, capable of hosting a banquet for 520 people.</div>
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<div class="page" title="Page 1">The sale come with development approval for a 36,545 sqm commercial tower on the site.</div>
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<div class="page" title="Page 1">Celebrity chef Guy Grossi has partnered with The Westin to deliver Garum, an Italian 'osteria' experience set in heritage-listed Hibernian all.</div>
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<div class="page" title="Page 1">The Aloft Perth (below) is being offered with the adjoining office building, 25 Rowe, near the Burswood entertainment area and the newly opened Optus stadium.</div>
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<div class="page" title="Page 1"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/20/aloft.jpg" alt=""></div>
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<div class="page" title="Page 1">The Aloft has 224 rooms and facilities including W XYZ bar and Springs Kitchen, the hotel's all-day dining serving modern Australian cuisine.</div>
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<div class="page" title="Page 1">There's a 150 sqm rooftop deck with 270 degree views of Perth and the Swan River.</div>
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<div class="page" title="Page 1">The sale through JLL includes a nine-storey A-grade commercial office building at 25 Rowe Avenue.</div>
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