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’s property gloom may be nearing its end, with research group BIS Oxford Economics forecasting that home prices have bottomed out in WA’s capital city and will start to rise from 2018.
BIS modelling shows price of houses in Perth won’t change in 2017-18, but is expected to gain 3 per cent from 2018-20, the Perth Now reported.
The median house price in Perth is $540,000. 
If BIS forecasts are accurate, this would mean an increase at least $15,000 over the next three years.
<div>
CoreLogic's monthly hedonic index showed Perth home values rose 1.4 percent in June, although they were still down 1.7 percent year on year.
The median dwelling price was $484,000.
BIS analyst Angie Zigomanis said the excess housing supply was approaching a peak.
</div>
Perth’s median unit price will drop one per cent over the three years to $400,000, it said.
“Our view is that Perth’s median house price has, or will shortly, bottom out,” BIS analyst Angie Zigomanis said.
“Having said that, any recovery will still be very slow and by 2020, we are only expecting a 3 per cent rise from this low, which won’t even keep up with inflation.” 
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jonathanchancellor-7SQnKwU6yx

Perth house prices likely to rise from 2018: BIS 

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Commercial property sales have increased in the past three months in Perth, according to CoreLogic’s latest Cityscope.
The property data firm says that sales recorded in the quarter to June 2017 totalled $171.5 million, a large increase from the March 2017 quarter which totalled $43.7 million, but a decrease from the $251.1 million recorded in the three months to December 2016.
The data brings the 12-month total to $623.6 million, a decrease from the $1.834 billion recorded the same time last year.
The table below shows sales recorded for the past eight updates of Perth Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Chart-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/09/Chart-1.jpeg" alt="">
Notable sales in the June 2017 update of Perth Cityscope include:
<ul>
<li>The Novotel Langley Perth Hotel, at 221-227 Adelaide Terrace, Perth, a 4.5-star, 14 level building with 256 rooms and 5 convention rooms, plus lower ground and basement parking for 98 cars; opened in 1987 and refurbished in 2006, which sold for $73.5 million;</li>
<li>The Crowne Plaza Perth Hotel, at 54-56 Terrace Road, East Perth, a 191-room hotel of 13 storeys which was refurbished in 1998 at an estimated cost of $11 million to include an eight-storey rear extension, which sold for $50 million and</li>
<li>Compass 26, at 1-5 West Street, West Perth, a four-storey office building with 3,935 sqm of office space, situated above 1.5 levels of car parking for 58 vehicles, which sold for $21 million.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Chart-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/09/Chart-2.jpeg" alt="">
Properties listed for sale in the June 2017 update of Perth Cityscope include:
<ul>
<li>SGIO Building, at 42-46 Colin Street, West Perth, a five-level office purpose-built for the insurance company, completed in the third quarter of 2002 with a net lettable office space of 8,872 sqm and basement parking for 161 cars, the long term leasehold is for sale by expressions of interest  through Knight Frank and Ray White Commercial;</li>
<li>42 Bennett Street, East Perth, consisting of a mostly single-storey, partly two-storey, retail building, plus a paved parking area for 31 cars on a 958 sqm site for sale through Burgess Rawson and Lease Equity and</li>
<li>143 Barrack Street, Perth, a three-storey building, once Phineas Seeligson’s City Loan Office, erected 1908, for sale through Colliers International.</li>
</ul>
Significant leasing opportunities in the June 2017 update of Perth Cityscope include:
<ul>
<li>68 Milligan Street, Perth, an office building of two storeys above lower ground parking for 27 cars with net lettable area 1,940 sqm, which has office space of  500 to 1,900 sqm for lease through Colliers International;</li>
<li>45 St Georges Terrace, Perth, comprising nine floors of office space, two basement levels and net lettable area of 10,017 sqm, which has office space from 200 to 2,400 sqm for lease through CBRE and JJL Perth and</li>
<li>Golden Square at 32 St Georges Terrace, Perth, a 16-storey commercial building with basement and open car park for a total of 56 car; built in 1967 and redeveloped at an estimated cost of $100 million in early 2015 which included increased floor plate sizes, internal layout modification and a new glass-clad facade, which has office space ranging from 674 to 7,911 sqm for lease through JLL Perth and Knight Frank.</li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

Perth CBD property sales rise in the quarter to June: Cityscope

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Perth is the only capital city locality to have a decline in its home value, year on year, according to CoreLogic’s latest report.
The property data firm says that over the past 12 months Perth’s home value has declined by 1.1%.
<a href="https://www.propertyobserver.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%202.01.15%20pm.jpg" target="_blank">Click 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/2017/06/19/Screen%20Shot%202017-06-19%20at%202.01.15%20pm.jpg" alt="">
This is despite a monthly increase of 2%.
Adelaide has the smallest growth in home value with only a growth of 3.1% over the past 12 years compared to Melbourne’s 12.1% and Sydney’s 11.5%.
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Perth the only locality with home values in decline: CoreLogic

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A Perth accomodation host has lost a court battle to be allowed to let his Rivervale apartment to short-term tenants through Airbnb, raising questions about the future of the private accomodation platform in the city. 
The Court of Appeal last week dismissed Ceresa River apartment owner James Byrne's case that he should be entitled to sub-lease his home to visitors, sometimes for just days at a time, reported the WA Today.
The court upheld the Supreme Court of WA's original decision from May 2016 that his apartment strata had a by-law which prohibited letting an apartment for short term stays.
Many apartment complexes in Perth have by-laws which prefer residential tenants over short-stay visitors.
"There's no doubt that short-stay letting in residential buildings creates a high degree of angst for those who call the complex home,” Strata Community Australia WA president Scott Bellerby was quoted as saying by www.watoday.com.au.
"This case is being used to provide direction to the strata industry on a matter that is becoming more and more prevalent as short-stay letting increases in and around Perth," he said.
 The dismissal of this appeal, at least for now, provides some confidence to owners that the implementation of appropriate by-laws can help them to effectively manage this issue."
Property owners within a strata wanting to rent out using Airbnb would likely have to apply to introduce a short-stay clause into the building's by-laws, he added.
Sydney and Perth have been listed in the top 10 cities worldwide to make an income using services like Airbnb.
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Perth unit owner loses battle to rent out using Airbnb

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Leasing activity in Perth lifted 32% in May, with reiwa.com data revealing 4,915 properties were tenanted over the month.
Tenant activity was very healthy in the metro area, the REIWA President Hayden Groves said although noting Perth’s private rental sector continued to present its challenges for landlords.
“Leasing activity was slightly subdued in April as a result of the Easter and ANZAC Day breaks, but rebounded strongly in May to record levels which now sit 17% higher than they did in May 2016,” Groves said.
Data from reiwa.com shows all five sub-regions experienced notable increases in activity over the month, with the North East sub-region the standout for May, increasing 35.5%.
“The South West and Central sub-regions also had particularly strong months, recording increases in leasing activity of 33.7% and 33% respectively.
“At a suburb level, East Perth, Perth and Scarborough in the Central sub-region had the highest volume of properties leased in May,” Groves said.
Although rental stock levels remain high in Perth, data for May shows listings were stable over the month with no change recorded.
Groves said there were hints that listing levels had finally begun to stabilise.
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Residential leasing activity levels remain elevated in Perth

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Perth and Darwin are recording value growth well below their decade average, according to CoreLogic’s latest June update.
The property data firm says that Melbourne and Sydney have the highest value growth.
Perth and Darwin have a value decline of 3.8% and 6.4% respectively.
<a href="https://www.propertyobserver.com.au/images/2017/06/06/Screen%20Shot%202017-06-06%20at%2012.12.56%20pm.jpg" target="_blank">Click 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/2017/06/06/Screen%20Shot%202017-06-06%20at%2012.12.56%20pm.jpg" alt="">
Meanwhile Sydney and Melbourne both have value growths of 11%.
Adelaide and Brisbane have the lowest value growths with a growth of only 2.9% and 2.3% respectively.
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Perth and Darwin home value growth below decade average: CoreLogic

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The home value of Perth continues to decline, according to CoreLogic’s latest report.
The property data firm says that in the past 12 months Perth’s home value has declined by 4.5%.
This is followed by a monthly decline of 0.7% in home values. There was a 0.1% weekly decline too in the west.
<a href="https://www.propertyobserver.com.au/images/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.19.35%20pm.jpg" target="_blank">Click 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/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.19.35%20pm.jpg" alt="">
Sydney and Melbourne home values continue to grow significantly with gains of 11% and 12% respectively in the past 12 months.
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Perth's home values still in decline: CoreLogic

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Perth is the slowest locality to sell a property across the country, according to CoreLogic’s latest report.
The property data firm says that the median time for a property to be sold in Perth is around 80 days or higher.
Houses in the West Australian capital require an average vendor discount of 7.4% to sell, while the average discount for units is 9%.
<a href="https://www.propertyobserver.com.au/images/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.57.11%20am.jpg" target="_blank">Click 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/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.57.11%20am.jpg" alt="">
This is significantly slower than Sydney or Melbourne where it only takes a month for properties to be sold.
The second slowest locality to sell a property is Darwin where it can take up to 65 days for houses and 72 days for units.
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Perth the slowest capital for property sellers: CoreLogic

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The average price of a property in Perth currently range between the high $300,000 to low $500,000, according to CoreLogic’s latest report.
The property data firm says that the median house in Perth costs around $505,000 while units costs around $390,000.
Sydney remains the most expensive place to purchase a property with houses costing around $996,250 while units cost around $730,000.
<a href="https://www.propertyobserver.com.au/images/2017/05/01/Screen%20Shot%202017-05-01%20at%2012.23.31%20pm.jpg" target="_blank">Click 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/2017/05/01/Screen%20Shot%202017-05-01%20at%2012.23.31%20pm.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/property-house-wa-viveash-125007974" target="_blank">2 Harford Avenue</a>, Viveash (above) has been listed for $449,000 plus.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-wa-bassendean-125225222" target="_blank">42 Third Avenue</a>, Bassendean (below) has been listed for $520,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/01/42%20Third%20Avenue.jpg" alt="">
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Bulk of Perth property prices sit between $390,000 to $505,000

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Weakness in discretionary spending habits of consumers continues and looks set to stay in place throughout 2017, according to Herron Todd White’s latest report.
The property valuation firm says that retail owners remain under pressure to maintain occupancy in their assets, with evidence of increasing incentives in this market.
"Vacancy rates increased across the board throughout the last year however remain lowest in the Hay and Murray Street Mall locations, followed then by regional shopping centres.
There is however an increasing trend towards tenants on short term leases, holding over and pop-up style shops," the report stated.
HTW advises that construction activity in regional and sub-regional sector will need to increase over the coming years.
"Over the next few years construction activity across the regional and sub-regional centre sector will need to increase as owners seek to grow and reposition their assets," the report advised.
Retail as an asset class is in the midst of a changing paradigm with many assets under utilised or failing to meet the expectations of consumers.
The integration of better child care, office, health and entertainment offerings needs to be considered to keep assets front of mind for the ever more discerning consumer.
"However increasing vacancies, stagnant or declining rents along with a moderating population growth have created more uncertainty for the timing of some of the mooted major centre expansions.
Recently, rising neighbourhood centre space combined with subdued demand has caused rental rates to deteriorate.
Neighbourhood centre rents declined by approximately 10% during 2016 to average around $600 per square metre.
Retail as an asset class remains on the radar for many investors (institutional, syndicates and private high net worth individuals) as it provides a relatively secure cash flow or upgradable investment options," the report stated.
This has resulted in investors accepting lower internal rates of return which is flowing into tighter yields for quality assets.
“We have noted a marked increase in eastern states based private investors who are willing to accept far lower yields for assets than local investors are prepared to accept,” the report stated.
The focus of the next WA government needs to be on investment in infrastructure which will support the shift from Perth being a mining headquarters to becoming a bona fide tourist destination.
"With that investment from government will come private development opportunities in the form of hotels and tourism based centres which will in turn drive the demand for world class retail opportunities, which will be the impetus to trigger retail expansion.
Government and industry need to work together on this solution otherwise the outlook for retail in Perth on the whole will remain bleak," the report advised.
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