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.

[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."

[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 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." />

&nbsp;

&nbsp;

&nbsp;

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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The Perth property market remains generally subdued in 2016 with median house prices softening by 4.4 percent compared to the corresponding quarter in 2015, according to the latest report from PRDnationwide.
According to its report, Perth Property Hotspots Second Half of 2016, this situation has, however, provided first home buyers with attractive opportunities to enter the market, which has resulted in Western Australia recording the highest proportion of first home buyers in Australia.
Although the Perth’s rental market is at its lowest in 12 months, it provides tenants with affordable housing options.
A flow-on effect from the recent strengthening of coal prices to other areas of the resources sector would help create some renewed impetus to the Perth property market.
“The Perth property market has seen some positive signs in a few select suburbs despite a general weakening during 2016,” said Tony Brasier, PRDnationwide managing director.
“For the positive momentum to be maintained and to expand into the wider Perth marketplace renewed confidence and growth in the mining and resources sector and broader economy is needed.”
Click to open in new window:
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-1.jpg" target="_blank"><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/2017/02/02/per-1.jpg" alt=""></a>
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-2.jpg"><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/2017/02/02/per-2.jpg" alt=""></a>
 
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-3.jpg" target="_blank"><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/2017/02/02/per-3.jpg" alt=""></a>
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-south+guildford-121951342" target="_blank">36 Brooking Street</a>, South Guildford (above) has been sold for $560,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-south+guildford-122476070" target="_blank">7 Seaton Court</a>, South Guildford (below) has been sold for $575,000.
<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/2017/02/02/7%20Seaton%20Court.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Perth property price falls a major boon for first time buyers: PRDnationwide

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The proportion of dwellings reselling at a loss across Perth has continued to trend higher over the September 2016 quarter, according to CoreLogic's latest Pain and Gain report.
The property data firm says that over the quarter, 17.3 percent of houses and 32.4 percent of units resold for less than the previous purchase price.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-16.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/2017/01/30/Corelogic-16.jpg" alt="">
Across the council regions, the areas with the highest proportion of loss-making resales were: Perth (48.1 percent), Mosman Park (35.3 percent) and Murray (34.1 percent).
Peppermint Grove had no resales over the quarter (so no resales at a loss) the regions with resales that had the lowest instances of loss were: East Fremantle (8.3 percent), Canning (11.7 percent) and Serpentine-Jarrahdale (12.3 percent).
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-17%20copy.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/2017/01/30/Corelogic-17%20copy.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Perth's reselling at loss trending higher: CoreLogic Pain and Gain

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Perth is the location with the second longest time required to sell a property, according to CoreLogic’s latest report.
The property data firm says that the average time for a house to sell at Perth is 90 days while a unit can take up to 99 days to sell.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Capital%20city%20median%20time.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/2017/01/30/Capital%20city%20median%20time.jpg" alt="">
Darwin houses takes 104 days to sell.
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Perth second slowest behind Darwin in time to sell a property: CoreLogic

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Perth has the biggest decline of home values for the year to date, according to CoreLogic’s latest report.
The property data firm says that Perth’s home value has declined by 1.6% in 2016.
<a href="https://www.propertyobserver.com.au/images/2017/01/16/Capital%20city%20home%20values.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/2017/01/16/Capital%20city%20home%20values.jpg" alt="">
This is followed by a 6% decline of home values over the last 12 months.
Melbourne had a slight increase in home value by 0.9% for the year to date followed by a 13.6% increase over the last 12 months.
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Perth home values decline by 1.6% in 2017: CoreLogic

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Home prices rose by 10.9 per cent in the capital cities in 2016. The gains were largely concentrated in Sydney (+15.5 per cent) and Melbourne (+13.7 per cent). In Sydney home values rose by $10,000 per month in 2016. Brisbane was a clear two-speed market and recorded gains of only +3.6 per cent overall. Australia's regional centres recorded moderate gains of +2.8 per cent. 
<div><a href="https://1.bp.blogspot.com/-V0-hx0y4Hxg/WGt1IW6r61I/AAAAAAAAhBc/Hj7EGOAF1XELqgVtmeNSeTEU2dTKG3bsACLcB/s1600/CL.jpg"><img src="https://1.bp.blogspot.com/-V0-hx0y4Hxg/WGt1IW6r61I/AAAAAAAAhBc/Hj7EGOAF1XELqgVtmeNSeTEU2dTKG3bsACLcB/s640/CL.jpg" width="640" height="314"></a></div>
 In Perth home values are now 7.9 per cent below their 2014 peak, and in Darwin prices are down by 5.9 per cent cumulatively.
<div>However, CoreLogic noted that both markets appear to be "moving through their low points" with both markets reporting strong gains in the last quarter of the year of +2.8 per cent and +5.9 per cent respectively.</div>
<div> </div>
<div>These figures seem to be at odds with low sentiment and high vacancy rates, but will be interesting to watch in 2017.</div>
Regional NSW performed well in parts but there was comparatively little joy elsewhere:
<div>"The remaining rest-of-state regions showed relatively sedate conditions, with values rising by half a per cent across regional Victoria, 1 per cent across regional Queensland and 1.1 per cent across regional South Australia.  </div>
<div> </div>
<div>Regional Western Australia recorded a 7 per cent fall in house values over the year."</div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
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pwargent-M4siyDbqQY

Perth dwelling prices now 7.9% below their 2014 peak

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A Cottesloe home sold twice this year in Perth, perhaps the only property to head upwards in price too.
The <a href="https://www.realestate.com.au/property/13-pearse-st-cottesloe-wa-6011" target="_blank">13 Pearse Street</a> holding sold for $7.05 million in June, then again for $7.55 million last month.
The latest buyer was a company co-directed by mining magnate Kerry Harmanis, which owns three neighbouring properties on the street.
The windfall came to Colin Herdman who had bought the property from the Kidd family in June.
It faces onto Avonmore Terrace.
<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/2016/12/23/Cottesloe-2.jpg" alt="">
Harmanis bought the corner home on 1000 square metres, prompting the Perthnow website to speculate Harmanis may seek to create a luxury redevelopment on the four blocks.
The largest block, at a little over 1000 square metres, cost $10.5 million in 2007. 
Harmanis founded the nickel miner Jubilee Mines in 1987. It was acquired by mining giant Xstrata in 2007 for $3.1 billion.
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Kerry Harmanis secures Cottesloe house that sold twice in 2016

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Perth’s home value has declined by 3% in 12 months, according to CoreLogic’s latest weekly report.
The property investment firm says that although the monthly change to the median home value increased by 0.9%, the year to date figure has declined by 5.2%.
<a href="/images/2016/12/05/Capital%20city%20home%20value.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Capital%20city%20home%20value.jpg" alt="">
This is compared with Sydney which has an increase of 14.4% in the year to date change for home value.
Melbourne and Adelaide has no change at all week-by-week category.
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Perth home values down 3% over past year: CoreLogic

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Due to the decline of the mining sector in Perth, prospective buyers are unwilling to invest in property, according to WBP Property Group's latest report.
The downturn in the Western Australian mining sector has resulted in a "palpable" reduction of consumer confidence as individuals realise the impact of the unfolding crisis.
"Prospective purchasers are unwilling, and in some cases unable, to raise funds to purchase properties, the cautionary approach leading to uncertainty regarding the future direction of residential and commercial real estate markets in Perth and surrounds," the report said.
"This has led to a glut of sale listing in greater Perth and the Peel region, with data estimating around 14,000 home currently for sale, and a further 10,000 properties available for rent.
"This is clear evidence of softened market conditions, which dictates properties of all persuasions must be priced realistically to realise clearance," the report stated.
It suggested there is a high likelihood that property values could decrease further in the short- to medium-term.
“But, it’s not all bad news," the report stated.
"There remains sound demand and buyer activity in well-located inner city areas, particularly those in school catchment areas and near the river, and well-established older suburbs complimented by infrastructure, shopping and retail precincts."
In these areas property values range from $800,000 to $1,500,000.
It noted while value levels remain relatively flat, supply and demand are close to equilibrium.
Meanwhile, the apartment market in Perth is oversupplied, which will be further compounded as developments currently under construction come online over the next two years, many during the same period.
"Unsurprisingly, many properties purchased off the plan during the past 18 to 24 months are struggling to meet current market values," the report stated.
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Mining sector decline detering Perth property market investment: WBP

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<img src="https://counter.theconversation.edu.au/content/66408/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The story of Perth’s low-density composition and growth is well understood.
The increasingly urgent need to develop infill housing for a growing population that results in a more compact city form have been well communicated and form an inevitable part of the discussion about density. In the last decade, this reasoning has become broadly accepted.
However, understanding the problem is one thing; exploring its potential solutions is another. Economics, stigma, inertia and layers of legislation mean Perth is substantially failing to meet the state government target of 47% infill for new residential development across the metropolitan area by 2031.
The primary mechanism that local governments have used to implement the top-down long-term vision for more infill housing is “upcoding”; that is, identifying and increasing sites with higher development potential. This has a number of consequences:
<ul>
<li>
increasing friction between supporters of market-driven speculation and those calling for affordable housing;
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<li>
the entrenchment of NIMBYism;
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<li>
built-form policies that prevent sites from reaching their potential; and
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<li>
questioning of whether infill density is improving or dismantling the spatial and cultural qualities of our suburbs.
</li>
</ul>
It is debatable whether more or less regulation might help to achieve the infill targets. On the one hand, further top-down regulation may be needed to force targets to be met. On the other, the bluntness of the instruments used for housing delivery may prevent innovative approaches to density and development from appearing.
Is there an alternative? Can regulation ever be expected to deal adequately with the complexities of how people could, should and want to live together? 
Can current regulation become an instrument to support non-standard approaches to achieving density? Can individual buildings be prototypes that permit a range of possibilities for planning legislation? Could density conditions be negotiated rather than preordained? And, if they can be, what might happen?
<h2>A fresh take on density 
</h2>
It is worth considering a project where these questions have come into play.
Built in 1923 as a wool and hide store, the Primaries warehouse in Fremantle was used to stored wool for 70 years until it was purchased for conversion into residential units. In 1993, approval was granted for 17 dwellings on the site. This was in addition to 23 dwellings that had been approved three years prior and subsequently built.
The resultant 40 grouped dwellings doubled the allowable density of the R35 site (the R35 code stipulates a minimum site area of 220m² per dwelling). This was made possible through a density bonus, granted under a clause of the town planning scheme relating to “places, buildings and objects of historical or scientific interest”. 
Council could relax any provision of the scheme, including the density of a site, where part of an existing building deemed to be significant was being preserved. In this instance, it was proposed to retain the roof structure and external walls of the 6,070m² warehouse. As a result, the site density was varied considerably, as were the required setbacks and the private open space requirements.
Brian Klopper, a local architect becoming increasingly known for his canny, idiosyncratic residential projects, was engaged to design both stages of the development. Stage 2 sold in just eight weeks. 
Within the boundary perimeter walls, Klopper inserted three rows of grouped housing and two large open courts. The courts function as inner streets, open to the sky. They allow for pedestrian and car access, for open car parking, for shared gardens, for each dwelling to address.
The houses are built in rows, with party walls at right angles to the perimeter walls and terminated on the inner court ends by full-height curtain glass walls. This is a terrace-house typology, expanded vertically and flooded with light.
Multifunctional and multifarious, the two-and-a-half-storey units have adaptable spaces. Occupants are able to use these as houses or for office or retail purposes, with little or no modification.
The most compelling aspect of the Primaries project, with the most enduring relevance, is its deft balancing of communality and privacy. It is a remarkable exemplar of medium-density development because it maintains the ideals of an individual house – privacy, comfort and customisability – within the compact dimensions of a collective residential cluster. 
The defining feature of the inner courts is public space. Connectivity, so often suppressed in multi-unit developments, is enhanced.
<h2>Flexible rules expand possibilities</h2>
This is a propositional project. It proposes a way of living in the city and of approaching density. The density bonus provision allowed the developer, architect and planners to establish the rules and conditions of the site, rather having to follow rules.
Negotiated conditions were necessary due to the unique nature of the warehouse. It’s worth considering that if the warehouse had not existed on the site, the scheme, even in identical form, would have been unlikely to be approved.
It’s also worth reconsidering subdivision. We are accustomed to subdivision being about land; to density codes being related to minimum site areas and plot ratios. Perhaps density is more about people than buildings; about occupation, not containers. 
We may need to consider new ways of subdividing all sorts of buildings, rather than land. And we may need to build things that are subdivisible from the outset.
It’s possible to imagine other projects initiating progressive planning conditions. It’s possible to imagine height and setback provisions being varied for projects that demonstrate exceptional solar access and ventilation. It’s possible to imagine density bonuses based on performance, adaptability, communality or affordability. 
With these sorts of expanded parameters for density bonuses, at once specific and wide-ranging, initiated and tested by project, new forms of housing may emerge that more effectively serve our contemporary, changing city.
Jennie Officer is senior lecturer in Architecture, University of Western Australia and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/jennie-officer-305137" target="_blank">here</a>.
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Reinventing density: bending the rules can help stop urban sprawl

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The asking price for a one bedroom unit in Perth has been discounted from $320,000 in September to $250,000 according to SQM Research.
SQM Research managing director Louis Christopher said the Perth vacancy rate is very high at 7.3 percent and looks like it could be going up still, while<a href="https://sqmresearch.us5.list-manage1.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=fe3dc22b2f&amp;e=0aab96dc54"> </a>asking rents for units are well down over the past three years.
"Back in September, the owner of 1019/305 Murray Street wanted $320,000. Now, after successive price drops, the price tag for this one-bedroom unit has dropped to $250,000, so you could be bagging a bargain," he said.
"There is some very sobering news on the Perth CBD.
"A<a href="https://sqmresearch.us5.list-manage1.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=df8a1d628b&amp;e=0aab96dc54">s</a>king prices for some units are up and look like they could be bottoming. Given the big discount of $70,000, it may be worth a look. But if you're a landlord looking to invest, you might be scratching around for tenants for some time, as business activity in Perth remains depressed due to the mining downturn, keeping the vacancy rate well up."
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