Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

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[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

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[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Perth

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Perth’s median house and unit prices were stable in March, with reiwa.com data showing both sectors of the housing market were holding up well.
REIWA President Hayden Groves said Perth’s median house price had increased 0.5% to $517,650 in March, while the median unit price had remain unchanged at $407,000.
“It’s pleasing that both house and unit prices are strengthening at the same time because it suggests one sector of the market hasn’t started to recover at the expense of the other.
“Unit prices in Perth are following the same trends we have observed in house prices, with March being the third month in a row the unit median has remained stable,” Mr Groves said.
The top performing sub-markets for median house price growth in March were South Perth/Victoria Park, Fremantle, Belmont, Vincent/Stirling SE and the Western Suburbs, while in the unit market Joondalup South, Cockburn, Stirling West, Bassendean/Bayswater and Stirling East were the stand-outs.
“Additionally, optimism among sellers appears to be returning with reiwa.com data for March showing listings for sale increased three% over the month.”
“Consumer sentiment in WA is currently the highest it’s been since mid-2013 when we were at the height of the resources boom."
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j.ballantyne1990-6AQqhLzZaK

Perth house and unit medians stable in March

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The home of ASX-listed Austin Engineering in Perth’s Kewdale Industrial Precinct has come to market with expectations of $14 million to $15 million.
The 3.2-hectare site with 6,622 square metres of office/workshop space at 100 Chisholm Crescent is undergoing extensive upgrades to modernise the facility.
Savills Australia’s James Condon has been appointed to sell the property in conjunction with Knight Frank’s Jarrad Grierson via a four-week campaign.
With Austin Engineering signing a new eight-year lease for the premises, Condon said investors were likely to compete for the opportunity to own the refurbished asset.
“With more than $1 million in annual rental income and fixed rental increases, 100 Chisholm Crescent will be very well received by the Perth investor market,” he said.
The tenant has been in the area for more than 20 years and has just committed to an extension to the lease of their second site nearby at 2 Draper Place, Kewdale, for another five years, which they have occupied for more than 10 years.
Condon said Austin Engineering’s signing of the two new leases showed commitment to the ongoing evolution of the Kewdale Industrial Precinct.
Chisholm Crescent is within close proximity of the Kewdale intermodal facility and the Perth International Airport, about 12 kilometres from the CBD. 
The high-quality office/workshop has a heavy-duty support structure to cater for a variety of gantry cranes, including two 25-tonne, three 16-tonne and one 10-tonne crane. 
The facility also includes an ancillary workshop of 890 square metres.
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Austin Engineering’s Kewdale facility up for grabs

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GUEST OBSERVER
Governments can encourage more affordable housing by targeting first home buyer subsidies to specific locations and housing types, a new report finds. It also suggests incentivising developers and builders to create smaller houses with more cost-efficient designs.
The report is based on the housing market in Perth, Western Australia, and shows that historically building single houses as opposed to units or town houses is a more effective way of delivering affordable housing on the city fringes.
The report examined housing affordability through individual transaction records over a six year sample period. It compared prices between established and new housing, showing that new land and building developments play important roles in supplying affordable housing options.
New dwellings comprise 13% of single house transactions and 33% for dwellings such as apartment or townhouses. Although new dwellings like apartments provided some affordable housing options, in general they are selling at a premium over existing houses.
Australia’s largest cities, like Perth, are stretched to the limit of land supply and infrastructure for affordable housing. The most infrastructure exists in city centres where houses are expensive.
Over the past two decades Perth has grown rapidly. Between 2001 and 2016 the population increased by 46.7%, the largest proportional increase of any Australian capital city. The make-up of the housing market is similar to other capitals: 68% of the housing stock is single houses, 20% other dwellings and 11% vacant.
Levels of home ownership are generally consistent with the national pattern: 62% of housing is owned outright or mortgaged, and 24% rented.
House prices have grown rapidly. From 1999 to 2016 house prices grew at an average annual rate of 8.4%; other dwellings grew 9%. Both sectors report the highest annual increases for all Australian capital cities over this period.
How can governments help?
The challenge in Australia’s housing market is supplying an adequate range of affordable new dwelling types within a range of suitable locations – both inner city and outer suburban choices.
Clusters of cheaper housing on the urban fringe and more expensive inner-city development suggest new building activity is confined to specific locations. These are defined by the price the constructor or buyer is willing to pay.
Housing policy in Australia has relied on market outcomes to determine aesthetic and economic characteristics of housing in our cities. Government intervention has mainly been through zoning, predominantly at local levels. More recently there’s also been stimulus at state and federal levels for first home buyers through various deposit subsidy schemes.
Subsidy schemes have been important in helping first home buyers bridge the deposit gap. Incentives have included cash payments and stamp duty relief.
In some states additional payments have been made for new building and for purchases in specific locations. But the Perth study indicates that some of these subsidies are becoming ineffective.
Standard “one type fits all” subsidies are limiting first home buyers’ choices of location and housing type.
The solution to this problem is to make subsidy schemes more flexible to nudge first home buyers towards affordable locations. This would even out the supply of affordable houses from areas where housing is densely clustered in certain locations.
Policy would also need to take into account the needs of different demographics in certain locations. Housing requirements of young singles are obviously different than for young families.
Effective policy would also need to take into account the types of housing finance available for first home buyers. One example is the WA government’s Keystart loans which help eligible people to buy their own homes through low deposit loans and shared equity schemes.
These types of schemes include shared ownership with the government owned housing authorities and include existing and newly built homes in a variety of locations.
<img src="https://counter.theconversation.com/content/93841/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">But it’s not all up to state governments. The problems of lack of land supply and infrastructure are the same in all Australian capital cities. The federal government could play a more prominent role through infrastructure grant funding in changing the location choice of buyers and variation of affordable housing types at a national level.
Greg Costello, Associate Professor, Curtin University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/what-governments-can-learn-from-perths-property-market-93841" target="_blank">original article</a>.
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What governments can learn from Perth's property market: Greg Costello

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A three bedroom house in Koongamia, the north-eastern suburb of Perth, has been listed for mortgagee sale for $379,000.
Set on a 548 square metre block, <a href="https://www.realestate.com.au/property-house-wa-koongamia-127851006" target="_blank">located at 33B Koolgoo Way</a>, it features three double sized bedrooms, formal lounge, open plan kitchen, dining and family room.
Other features include the entrance hall with high ceilings and double linen cupboard, backyard and double garage spaces.
The brick and tile home was built in 2003.
The marketing says the property is being sold "as is".
It last sold at $372,500 in 2007.
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Mortgagee Koongamia three bedroom house listed for sale

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A development site in Applecross, the Perth riverside suburb, is set to change the face of the skyline.
The 1.75 hectare site in the coveted Canning Bridge Precinct is being offered with the vision of the current consortium of landowners.
They engaged global design group Woods Bagot to develop a concept master planned community.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/27/cross3.jpg" alt="">
The result of the international studio team’s work has been ‘Applecross Central’, a mixed use precinct with six distinct zones; specialty retail, premium residential accommodation, commercial office space, a 5-star hotel, retirement living and a school, all set amongst integrated public spaces.
 “The vision was about creating the next generation of mixed-use developments for Perth”, Woods Bagot director Mark Mitcheson-Low said. 
“The development will take Perth to new heights and is a project that could be recognised anywhere as a world-class advancement to the next century community”.
“The complementary and distinctively designed mixed-use precinct balances a mix of commercial, residential, retail and community services and amenities and brings convenience to the doorstep of the Applecross community."
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/27/cross2.jpg" alt="">
JLL's Nigel Freshwater, Sean Flynn and Tom Nattrass are marketing the property on the corner of Canning Highway and Sleat Road.
Freshwater said the site offered a rare opportunity.
“The ‘Applecross Central’ site provides significant development scale and tremendous, unprecedented scope for a fully integrated, high density mixed-use development precinct envisaged to become the thriving heart and form the centerpiece of the Canning Bridge Precinct.
“This is a very rare opportunity indeed and without doubt will attract significant local, national and offshore interest from developers and investors, seeking a truly unique and unrivalled project, capable of delivering a full suite of end-product across a multitude of sectors."
Applecross Central is being offered for sale via expressions of interest.
For more information click here.
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jrobinson-rf4aSBido9

Applecross set for new skyline

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Perth’s vacancy rate has dropped to 5.3 per cent - the lowest since July 2015.
REIWA President Hayden Groves said Perth’s latest vacancy rate for January 2018 had improved significantly.
“It’s quite remarkable to see it this low considering seven months earlier Perth’s vacancy rate soared to 7.3 per cent – the highest we have ever experienced, and now it’s back at levels last seen in 2015.
“The vacancy rate is a good indicator for how the entire rental market is tracking, with reiwa.com data for February showing stable rent prices and declining listing levels. Leasing activity did drop off in February, however levels are still healthy and trending above long term averages,” Mr Groves said.
The reiwa.com vacancy rate is compiled using data obtained from a monthly survey of REIWA members.
The survey details how many rental properties members manage and how many of those are vacant.
Mr Groves said there were a number of factors that had contributed to lowering the vacancy rate, such as an increase in population growth and a reduction in average tenure time.
“Population growth in WA has started to improve. Rental markets always feel the effects of population trends, with new entrants into the state the first to soak up rental stock.
“Tenants are also moving more frequently. In 2014 for example, the average tenure time was 45 months, fast forward to 2017 and it’s now 34 months, which is almost a full year less. This has led to an increase in leasing activity which has driven demand for rentals and had a positive effect on the vacancy rate.
“Another contributing factor is the reduction in the number of new dwelling commencements across the Perth Metro area. This has played an important role in lowering the vacancy rate. With less new dwellings coming onto the market, existing rental stock is now being soaked up, which is why rental listings have declined 19 per cent over the last year.
“After a challenging few years for landlords and investors, it’s pleasing to see some parity return to the rental market, with tenants and landlords seeing benefits simultaneously,” Mr Groves said. 
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Perth vacancy rate lowest it’s been in more than two years

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A housing affordability report has found WA is the most affordable state in the country for tenants and home-buyers. Only the two Territories - the ACT and Northern Territory - are more affordable.
It’s one piece of a multi-faceted equation which equals recovery in the Perth property market.
While media continues to obsess over Sydney and has extrapolated the wind-down in its market into a national downturn, other scenarios are playing out in different parts of this complex nation.
Perth has been running counter-cyclical to Sydney for the past five or six years and this continues. In 2012, when Perth prices were rising strongly, Sydney was doing very little; as Sydney got on its growth path from 2013 onwards, Perth was heading into reverse; and now, as Sydney runs out of steam, Perth is recovering and moving forward.
Improved affordability after four years of price decline is one of the factors giving Perth momentum.
The Real Estate Institute of Australia and Adelaide Bank, in their latest Housing Affordability Report, have found that affordability in WA’s housing and rental markets has improved markedly.
According to the report, the proportion of income required for tenants to pay their rent had decreased from 19.2% in late 2016 to 17.4% in late 2017.
For those looking to buy their first home, the proportion of income required to meet home loan repayments decreased from 23.8% in 2016 to 22.4% in 2017.
The result reflects the decline in property values and rentals in Perth and other parts of WA in recent years, exacerbated by the end of the resources investment boom, which pushed up residential vacancies.
But the Perth property market generally ended 2017 on a positive note, with December Quarter data from the REIWA showing improvements in median prices, sales activity, listing levels and average selling days.
Supporting that is Domain figures for the December Quarter, which show small quarterly rises in the median prices for both houses and apartments, although the annual figures are still a little negative.
In addition, the latest SQM Research figures show small monthly rises although, again, the annual data is still in the negative.
All this is making Perth “the land of opportunity” and it’s the main reason I’m heading to Perth to do a seminar presentation on 15 March.
REIWA president Hayden Groves says it bodes well for Perth that all key indicators improved over the latest quarter.
“The Perth market found its floor and stabilised in the back half of 2017,” he says. “We now appear to be entering a recovery phase, though REIWA remains cautious about expectations of rapid growth in the next 12 months.”
Perth’s preliminary median house price increased 1.2% to $516,000 in the December Quarter - but once all sales have settled, REIWA expects the final December Quarter median to lift to $520,000, which would be a notable rise on the September Quarter median of $510,000.
Perth’s median unit price is $405,000 for the December Quarter which is a 1.3% increase on the September Quarter.
There were 4,946 dwelling sales in Perth in the December quarter. Groves says this figure is expected to lift to 6,700 once all sales have settled, putting it significantly above the September Quarter sales figure.
“Traditionally, the September Quarter outperforms the December Quarter, but that wasn’t the case in 2017. The December Quarter is on track to record 14% more sales than September,” Groves says.
The primary reason for the revival in the Perth property market is the recent improvement in the state economy.
Further confirmation of WA’s revival comes from Reserve Bank governor Philip Lowe, who says the state economy has “turned the corner”.
Lowe says while the national economy is gaining strength, WA is not being left behind, with signs of a lift in mining investment through the State.
“We’re starting to see more self-sustaining investment growth in WA in the mining sector and that’s picking up conditions in Perth,” Lowe says. “It’s not a boom again but there’s more sustainable investment going on and that’s helping the WA economy.”
Outside the mining sector, Lowe cites the lift in public infrastructure projects as one of the reasons the economy is improving.
 
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

Perth's counter cyclical property market is now moving forward: Terry Ryder

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Data released by SQM Research calculates the national residential vacancy rate fell to 2.3% in January 2018, with the number of vacancies Australia-wide falling to 74,113, down from 2.5% in December 2017, as renters secured homes for the start of the new year. 
In the big cities, Melbourne’s vacancy rate dropped to 1.8% from 2.1% while Sydney’s dropped to 2.3% from 2.6%. But that vacancy rate is still up from 1.9% a year earlier, reflecting slightly easier rental conditions in Sydney. The vacancy rate dropped in Canberra to 0.9% down from 1.3% in December.
Hobart's vacancy rate hovered just above a record low at 0.4%, reflecting a severe shortage of rental properties in that city.
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City
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<td>
January 2017 Vacancies
</td>
<td>
Vacancy Rate
</td>
<td>
December 2017 Vacancies
</td>
<td>
Vacancy Rate
</td>
<td>
January 2018 Vacancies
</td>
<td>
Vacancy Rate
</td>
</tr>
<tr>
<td>
Adelaide
</td>
<td>
3,375 
</td>
<td>
1.9%
</td>
<td>
2,772 
</td>
<td>
1.5%
</td>
<td>
2,793 
</td>
<td>
1.5%
</td>
</tr>
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<td>
Perth
</td>
<td>
9,953 
</td>
<td>
5.1%
</td>
<td>
9,264 
</td>
<td>
4.6%
</td>
<td>
8,909 
</td>
<td>
4.4%
</td>
</tr>
<tr>
<td>
Melbourne
</td>
<td>
10,170 
</td>
<td>
1.9%
</td>
<td>
11,478 
</td>
<td>
2.1%
</td>
<td>
9,744 
</td>
<td>
1.8%
</td>
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Brisbane
</td>
<td>
11,314 
</td>
<td>
3.6%
</td>
<td>
12,240 
</td>
<td>
3.8%
</td>
<td>
11,505 
</td>
<td>
3.6%
</td>
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<td>
Canberra
</td>
<td>
621 
</td>
<td>
1.0%
</td>
<td>
807 
</td>
<td>
1.3%
</td>
<td>
569 
</td>
<td>
0.9%
</td>
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<td>
Sydney
</td>
<td>
12,228 
</td>
<td>
1.9%
</td>
<td>
17,404 
</td>
<td>
2.6%
</td>
<td>
15,775 
</td>
<td>
2.3%
</td>
</tr>
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<td>
Darwin
</td>
<td>
1,086 
</td>
<td>
3.7%
</td>
<td>
1,035 
</td>
<td>
3.5%
</td>
<td>
941 
</td>
<td>
3.1%
</td>
</tr>
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<td>
Hobart
</td>
<td>
186 
</td>
<td>
0.6%
</td>
<td>
96 
</td>
<td>
0.3%
</td>
<td>
126 
</td>
<td>
0.4%
</td>
</tr>
<tr>
<td>
National
</td>
<td>
78,364 
</td>
<td>
2.5%
</td>
<td>
80,092 
</td>
<td>
2.5%
</td>
<td>
74,113 
</td>
<td>
2.3%
</td>
</tr>
</tbody>
</table>
</div>
 
Elsewhere, the vacancy dropped in Perth to 4.4% from 4.6% in December, but it is still the highest of any capital city. Darwin’s vacancy rate fell to 3.1% from 3.5% over the month as the surplus of rental properties eases in that city.
Managing Director of SQM Research, Louis Christopher, said the vacancy numbers highlighted tighter rental markets in most capital cities, which was to be expected in the first month of the year as renters found new rental homes. 
 “We’ve seen falls across all cities, as students prepare for their first semester of study and lease new homes, and workers also secure new rentals, especially in Canberra which has a transient workforce and Sydney too. We are seeing very tight rental conditions in Hobart, which is putting strong upward pressure on rents. 
“While Sydney’s vacancy rate has dropped, it is still well up on levels this time last year. If the vacancy rate holds at this level in coming months, Sydney will be more of a tenant’s market in 2018 and rental growth could continue to ease,” Christopher said.
Capital city asking rents over the month to 20 February 2018 rose 0.2% to $562 a week for houses. Unit asking rents rose 0.5% to $443 a week. Over the year, asking house rents rose by 1.3% while asking rents for units increased by 2.8%. 
Reflecting a shortage of rental properties, asking rents rose the most in Hobart over the month, by 5.1% and 5.3% for houses and units, respectively. 
The asking rent for a three-bedroom house in Sydney remains the highest in the nation at $745 a week while for units it stands at $525. Canberra follows at $616 a week for houses and $436 for units. Asking rents for houses rose in Melbourne by 0.4% over the month to $528 while unit asking rents rose 1.2% over the month to $402 a week.
<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/2018/2/20/sqm.jpg" alt="">
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties. 
New reiwa.com data suggests Perth’s rental market has stabilised. 
REIWA President Hayden Groves said results for the December 2017 quarter suggests Perth’s rental market officially found its floor in 2017. 
“After a prolonged period of falling rents, soaring listings and record high vacancy rates, the market has strengthened. The December 2017 quarter results signal a stable market, which is welcome news for landlords and property investors,” Mr Groves said. 
Perth’s overall median rent price remained at $350 per week during the December 2017 quarter. 
Mr Groves said this was the third consecutive quarter Perth’s median rent price has held at $350 per week. 
“Perth’s median rent stabilised considerably in 2017. Where rents were once declining every quarter, we’ve now observed nine months of steady prices,” Mr Groves said. 
On an annual basis, reiwa.com data shows the median rent declined $10 per week. 
“Although there was a small decline between the December 2017 and December 2016 quarters, this is still a significant improvement on the year prior when Perth’s overall median rent declined $40 per week between the December 2016 quarter and the December 2015 quarter.
"Annually, the rate of decline has slowed considerably which is pleasing,” Mr Groves said. 
While the overall median rent price is stable, reiwa.com data shows a number of suburbs saw an improvement in rent prices over the quarter. 
“The top five suburbs for median rent price growth in the December 2017 quarter were Mindarie ($565 per week), Attadale ($455 per week), Bicton ($370 per week), Shelley ($430 per week) and Shoalwater ($295 per week),” Mr Groves said.
There were 13,555 rental properties leased in the December 2017 quarter. 
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“Despite the traditional lull of the festive season, leasing activity only declined 1.6 per cent during the December 2017 quarter. Tenants remain very active and it’s good to see that leasing activity hold up well throughout the holiday season,” Mr Groves said. 
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Madeley, Kingsley, Inglewood, Piara Waters and Cooloongup had the biggest improvement in leasing activity volumes in the December 2017 quarter. 
There were 8,912 properties for rent in Perth at the end of the December 2017 quarter. Mr Groves said rental listings in Perth have declined substantially since their peak of 11,300 in 2016.
“Listings have declined 8.4 per cent on a quarterly basis and are down 13.9 per cent compared to the December 2016 quarter. 
“These considerable declines are likely due to new dwelling commencements slowing which has resulted in stock being soaked up. Another contributing factor is the improvement in population growth into the state, which lifted to 0.84 per cent in the year to June 2017. The rental market is generally the first place to feel the effect of population growth, as new entrants into the state soak up rental stock first,” Mr Groves said. 
Average leasing days 
It took 49 days on average to find a tenant in the December quarter - five days faster than it did in the September 2017 quarter. 
Mr Groves said average leasing days had also improved by three days compared to the December 2016 quarter. 
“Healthy leasing activity and declining listings has increased demand, which means tenants are needing to act faster to secure a rental. It also shows landlords are listening to the advice of their property managers and pricing their properties competitively from the start,” Mr Groves said. 
Perth’s December 2017 quarter vacancy rate is 5.5 per cent - the lowest level since the September 2015 quarter. 
Perth’s vacancy rate is the lowest it has been in more than two years. It is now down from 6.9 per cent in the September 2017 quarter and from 6.4 per in the December 2016 quarter, which is significant” Mr Groves said. 
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Perth has highest rental vacancy rate at 4.4%, but down from 5.1% a year ago last January

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GUEST OBSERVER
As Cape Town counts down to “day zero” and the prospect of its taps being turned off, there have inevitably been questions about whether the same fate might befall a major Australian city. The most striking parallels have been drawn with Perth – unsurprisingly, given its drying climate, rising evaporation rates (which increase consumption and reduce water yields) and growing population.
So is Perth really running out of water? The answer depends on what type of water is being considered, and what constitutes “running out”.
When faced with this question most people think of drinking water, which is of course essential for household use.
It often ignores non-potable groundwater that is heavily relied upon in Perth to irrigate gardens, lawns, ovals, golf courses and market gardens. This water is also used by light and heavy industry, as well as being crucial to the health of wetlands and vegetation across the coastal plain.
<img src="https://images.theconversation.com/files/206115/original/file-20180213-44654-66n9ff.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Lake Jualbup in Perth’s western suburbs showing periods of low and high water level. Photos by Geoffrey Dean. saveourjewel.org, Author provided
Perth’s drinking water supplies are largely safe, thanks to early investment in the use of groundwater and in technologies such as desalination. But somewhat ironically, as this recent book chapter explains, the future supply of lower-quality water for irrigation and to support ecosystems looks far less assured.
A drying climate
Perth’s annual rainfall has been declining by about 3mm per year on average, while the number of months receiving at least 200mm of rain has halved. Meanwhile, the annual mean temperature anomaly has increased by 1℃ in southwest Western Australia in the past 40 years and possibly by more in Perth, given the urban heat island effect.
<img src="https://images.theconversation.com/files/206135/original/file-20180213-44654-q46rcz.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Perth’s rainfall trend, as measured at Perth Airport’s rain gauge. Bureau of Meteorology
The overall effect is that soils and vegetation are often dry, meaning that rainfall will be lost to evapotranspiration rather than running off into rivers and dams, or recharging underground aquifers.
At the same time, Perth has made major changes to its drinking water supply. The city now relies chiefly on groundwater and desalination rather than dams. For a variety of reasons, drinking water use per person has declined, most notably since the early 2000s when sprinkler restrictions were introduced. Some have switched to self-supply sources such as backyard bores, so for them total water use may even have increased.
<img src="https://images.theconversation.com/files/206138/original/file-20180213-44633-7ug4r4.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Perth’s trends in runoff, population, and water supply. Water Corporation
The reduction in per capita use of drinking water is just as well, because inflows into Perth dams have fallen from 300 billion litres a year to less than 50 billion. This disproportionate drop in stream flows, even against the backdrop of declining rainfall, means that evaporation from reservoirs can exceed inflows in very dry years.
Since the late 1970s, Perth has increasingly used groundwater rather than dam water. Seawater desalination has also grown to almost half of total supply. Even more recently Perth began trialling a groundwater replenishment scheme to recharge aquifers with treated wastewater.
With the declines in rainfall and streamflow predicted to continue, water security will continue to be an important policy issue over the next few decades. Although both are much more expensive than dam water, desalination and groundwater replenishment look set to secure Perth’s drinking supply, because seawater is virtually unlimited, and wastewater availability increases in line with the city’s growth.
Why are non-drinking water supplies less secure?
Boosting drinking water supplies with desalination or groundwater replenishment is unlikely to resolve the pressures on non-potable supplies. To understand why, it is necessary to understand Perth’s unusual hydrology.
Most of Perth is built on permeable sand dunes, which can soak up even the heaviest rainfall. This allows runoff from roofs and roads to be directed into nearby soak wells and absorption basins.
As well as cheap disposal of stormwater, the sands provide Perth with a place to store excess water from winter rains, which is then relied upon for summer irrigation. As a result, local governments have been able to provide many irrigated parks and sports ovals, and more than a quarter of Perth households use a private bore to water their gardens.
This arrangement isn’t as sustainable as it once was. Groundwater levels are falling under many parts of Perth, forcing the state government to reduce allocations and to introduce a range of water-saving measures such as winter sprinkler bans.
Unlike dam inflows, we don’t yet know the full scale of the reduction in natural groundwater recharge rates. But the question still remains: what can we do to halt the decline of this important water store, particularly as Perth’s population is expected to grow to 3.5 million by 2050?
About 70% of local road runoff and half of roof runoff already recharges the shallow unconfined aquifer, because it is the cheapest way to dispose of excess water in areas with sandy soils. As well as reducing discharge costs, this practice helps to ensure that bores do not run dry in summer.
Perth also has large main drains that are designed to lower groundwater levels in swampy areas and prevent inundation. Some of these waters could be redirected into the aquifer where there is a suitable site.
Don’t waste wastewater
About 140 billion litres of treated wastewater are discharged into the ocean every year in the Perth-Peel region. A further 7 billion litres are infiltrated into the sands as a means of disposal where there isn’t an option for ocean outfall. Recent investigations of these land disposal sites have shown them to be effective in protecting wetlands from drying and providing water for public and private irrigation.
Investigations have also shown that the quality of treated wastewater can be greatly improved when infiltrated through the yellow sands into the limestone aquifer in the western part of Perth. It is suitable for irrigation after a few weeks’ residence within the aquifer.
Without these kinds of measures, local governments will struggle to water parks and sports ovals, to protect Perth’s remaining wetlands, and to safeguard the trees that help keep us cool.
<img src="https://counter.theconversation.com/content/90857/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">So while drinking water supplies for an affluent city like Perth are reasonably secure, our vital non-drinking water supplies need to be augmented using some of the water we currently discharge into the ocean. As Perth gets even hotter and drier, and green spaces and wetlands are needed to provide much-needed cooling, we can no longer afford to let any water go to waste.
Don McFarlane, Adjunct professor, University of Western Australia
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/is-perth-really-running-out-of-water-well-yes-and-no-90857" target="_blank">original article</a>.
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Is Perth really running out of water? Well, yes and no: Don McFarlane

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Australia's richest woman Gina Rinehart has listed two redundant residential investment properties overlooking the Swan River in Perth.
The two Crawley apartments, on Wingfield Avenue, have been in family ownership for over two decades.
One had been the <a href="https://www.realestate.com.au/property-apartment-wa-crawley-127233522" target="_blank">Perth base for her daughter</a> Ginia, who now resides in a $14.8 million Bondi Beach apartment.
The other offering is the <a href="https://www.realestate.com.au/property-apartment-wa-crawley-127233526" target="_blank">two level penthouse</a> (above and below).
<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/2018/1/29/rinehart2.jpg" alt="">
Brent Morfesse at Mack Hall Real Estate is marketing the apartments which come with views over Matilda Bay. 
Rinehart will still own two of the seven apartments on the dress circle location.
This article was first published in the Weekend Australian property section.
 
<a href="https://www.realestate.com.au/property-apartment-wa-crawley-127233526" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en-GB&amp;q=https://www.realestate.com.au/property-apartment-wa-crawley-127233526&amp;source=gmail&amp;ust=1517019245242000&amp;usg=AFQjCNEQkEPzsrIkWklPgMH88Q1Ia4GN8Q"> </a>
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