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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Dwelling values across Perth have seen further decline by 3.2%, according to CoreLogic's latest monthly report.
The housing market has been in a downturn since December 2014 and the latest data reveals that dwelling values have fallen by 7.0% year on year.
<a href="/images/2016/10/17/Perth%20annual%20changes.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/17/Perth%20annual%20changes.jpg" alt="">
Buyer demand also seems to have been reduced with transaction numbers falling over the last 12 months along with the average selling time extended out to 75 days, as opposed to 66 days this time last year.
This is despite Perth having a very high number of listings allowing buyers a lot of options to choose from.
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j.ballantyne1990-6AQqhLzZaK

Perth's housing market continues to decline: CoreLogic

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Perth represents both danger and opportunity for property investors at present. 
The city, which led the nation on price and rental growth in 2012 and early 2013, is three years into a cyclical downturn, exacerbated by the wind-down in the resources investment boom.
Sales activity has been falling steadily since 2013 and the decline has gathered pace since the start of 2016. Some Perth suburbs have sales volumes at a fraction of their former levels, indicating further price decline is likely. 
This situation has been further impacted by vacancies well above 3% in many areas, as workers have left the city in the wake of the resources downturn and the ripple effect that has had on business in Perth (creating CBD office vacancies above 20 percent).
The situation also represents opportunity for counter-cyclical investors to buy well while price are down and competition is weak. Perth historically has been a population growth leader and one of the strongest capital cities for long-term capital growth. Perth property markets will recover and now is a good time to be looking for bargains.
Investors, however, should continue to avoid the inner-city apartment markets which have very high vacancies and an oversupply situation that is likely to get worse before it gets better. Housing markets will recover before apartment markets do.
Hotspotting’s latest research on sales activity demonstrates that the downward trend in the Perth market has deepened recently. Growth markets have vanished and there are now multiple suburbs classified as “danger” markets, with more likely to be added to the warning list if current sales patterns continue in coming quarters. 
Perth’s decline has been happening since the peak in early 2013 and the downturn has worsened since the beginning of 2016.
The number of dwelling sales in the WA market was above 16,000 per quarter in early 2013. Sales dropped below 15,000 per quarter in 2014 and below 13,000 in 2015. The market has dropped further in 2016, with around 8,300 sales in the March Quarter and fewer than 7,000 in the June Quarter. Sales rates are now well under half those of two years ago.
The suburb of Mt Pleasant in the Melville LGA has the kind of sales trend that sellers don’t want: sales totaling 62, 50, 42, 25 and 15 in the past five quarters. 
The suburb of Nollamara in the Stirling LGA has dropped from well above 100 per quarter to 55 in the March Quarter and 35 in the June Quarter. In nearby Yokine, the sales pattern has been 103, 95, 75, 74, 79, 51 and 38 (with vacancies at 5.3% in that postcode).
In Fremantle, the sales pattern since early 2014 has been 85, 61, 66, 60, 59, 47, 49, 45, 27 and 25. In Rivervale in the Belmont LGA, the sales pattern has been 101, 84, 100, 69, 78, 55, 81, 71, 74, 32 and 24. With a vacancy rate around 8%, the immediate future looks bleak.
The malaise has spread to all market sectors. Upmarket Mosman Park’s quarterly sales record is 74, 72, 76, 62, 51, 62, 47, 41, 30 and 25. In downmarket Gosnells, quarterly sales since early 2014 have been 153, 158, 134, 123, 103, 118, 109, 82, 75 and 53, so current sales are a third of the peak levels.
So what should investors do? Avoid Perth altogether? Wait until they read about recovery? Or become counter-cyclical buyers?
Most investors are herd animals who never take advantage of down markets. They jump into markets when they read there’s a boom under way, as so many did in Sydney over the past few years.
The really smart investors, and there were some, saw what was coming, bought before 2013 and got full benefit from the capital growth that followed. 
The switched-on ones who think and act counter-cyclically will see opportunities to buy bargains in Perth. Prices are down right across the metropolitan area so there’s no shortage of good opportunities, as well as a lack of competition from other punters.
High vacancy rates would deter many, because of difficulties finding tenants at acceptable rentals, but not everywhere has 5-6 percent vacancy rates. 
Investors just need to believe Perth has a future. And obviously it does, although it may not feel much like it at present. WA has been a nation-leading growth economy many times and will be so again in the future. Perth has led on population growth and property price escalation, and has had two notable up-cycles in the past 10-12 years. It will recover.
 
 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 represents both danger and opportunity for property investors: Terry Ryder

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The Perth metropolitian council regions with the highest proportion of loss making resales over the quarter were: Perth (52.8%), Mosman Park (37.5%) and Cottesloe (33.3%), according to the latest CoreLogic Pain and Gain report. 
The report compares the most recent sale price to the previous sale price in order to determine whether the property sold at a gross profit or gross loss. 
Some 17.9% of resold houses and 30.2% of resold units across Perth over the June 2016 quarter were sold for less than the previous purchase price, with loss-making resales of houses at their highest level since September 1996 and unit losses at record highs.
<a href="/images/2016/09/28/pain%20and%20gain%20perth.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/28/pain%20and%20gain%20perth.jpg" alt="">
The Peppermint Grove council area recorded no resales at a loss over the quarter, while Nedlands (7.7%) and Bassendean (8.3%) were the other two regions with the lowest proportion of loss-making resales.
<a href="/images/2016/09/28/perth%20pain%20and%20gain%20chart.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/28/perth%20pain%20and%20gain%20chart.jpg" alt="">
Get the full report <a href="https://www.corelogic.com.au/news/file-download?id=56fe4d38-98f3-4f82-b763-e91283945def" target="_blank">here</a>.
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Perth CBD residential property sellers cop sale pain 50% of the time: CoreLogic

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Half of the properties featured on the Top Ten Nationwide Discounted Properties from SQM Research for this week are in Perth and the price of a Victorian Greyhound kennel has been reduced 33 percent since listing.
Louis Christopher, SQM research managing director said house and unit prices have been falling for some time in Perth, as have rents.
"Elsewhere, there are bargains," he said.
"The fully functioning Greyhound kennel in the small Victorian township of Tooradin is still on the market despite a 33 percent reduction in price, with no buyers emerging from NSW where greyhound owners are still coming to terms with the racing ban there.
"Properties in Western Australia still account for five out of the 10 on the list, as the mining downturn slowly erodes what remaining wealth there is there in property in that state.
<a href="/images/2016/09/28/Screen%20Shot%202016-09-28%20at%203.52.42%20PM.png" target="_blank">Click to enlarge</a>
 
<img src="/images/2016/09/28/Screen%20Shot%202016-09-28%20at%203.52.42%20PM.png" alt="">
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jonathanchancellor-7SQnKwU6yx

Perth property price decline continues: SQM Research

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The latest CoreLogic Pain &amp; Gain report had 20.1 percent of Perth homes resold at a loss, while in Darwin, 24.2 percent of homes resold at a loss; the highest proportion since December 2002.
<div>
Across the remaining capitals, the proportion of loss-making resales was: Sydney 2.4 percent, Melbourne 4.4%, Brisbane 8.4%, Adelaide 10.6%, Hobart 10.8% and Canberra 9.6%. Across the regional markets, the proportion of loss-making resales increased in New South Wales, Victoria, Queensland and Western Australia, and was unchanged in South Australia.
Across the individual areas, the proportion of resales at a loss were recorded at: 7.3% in regional NSW, 9.3% in regional Vic, 19.8% in regional Qld, 21.7% in regional SA, 33.8% in regional WA, 19.6% in regional Tas and 21.2% in regional NT.
The report uncovers the profits earned and the losses made from property sales over the June 2016 quarter, and reveals which locations have been the most valuable for investment.
<div>
Based on the June quarter findings, 5.9% of capital city houses resold at a loss, up from 5.7% from the March 2016 quarter while units at 9.5% resold for less than the previous purchase price. Across regional housing markets, 12.2% of houses &amp; 19.9% of units resold over the June 2016 quarter transacted below previous purchase price.
Regional areas experienced the highest proportion of total resales at a loss since the three months to August 2015 for houses and the three months to February 2016 for units.
Capital Cities Losses &amp; Profits:
• $164,239,771 in losses from resales of capital city houses = $94,926 on average; • $87,017,927 in losses from resales of capital city units = $67,456 on average; • $9,953,211,125 realised for resale profit for capital city houses = $363,442 on average;  • Total resale profit for capital city units - $2,828,164,261 = $229,596 on average.
Regional Areas Losses &amp; Profits:
• $139,475,875 worth of house resold at a loss = $64,423 average loss • $68,199,797 units resold at a loss = $61,944 average loss • $2,400,837,922 in profits realised for houses = $154,773 on average • $475,731,130 in profit realised for units across regional areas = $107,680 on average.
CoreLogic researcher Cameron Kusher said while loss-making resales increased over the quarter, historically, most cities are still seeing quite a low instance of homes reselling at a loss.
"However, Perth and Darwin are the exceptions with the proportion of loss-making resales at, or close to historic highs.”
Around the country, the proportion of loss-making resales over the quarter increased across each capital city excluding Melbourne and Canberra.
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jchancellor-FAypfDUnLy

Perth's loss taking property sellers at 20 percent: CoreLogic

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Como takes the equal top spot as Perth's 2016/2017 hotspot for investing in houses with an expected increase of three percent over the next 12 months.
The current median price for Como currently sits at $732,500, according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.
An example would be a 3 bedroom house at <a href="https://www.realestate.com.au/property-house-wa-como-123624142" target="_blank">51 Alston Avenue</a> (below) that is currently on sale for $819,000, which is $86,500 above the median price.
<img src="/images/2016/09/22/51%20Alston%20Avenue.jpg" alt="">
Similarly a 3 bedroom house has recently been sold at <a href="https://www.realestate.com.au/sold/property-house-wa-como-122245562" target="_blank">24 Wooltana Street</a> (below) for $792,500, which is $60,000 above the median price.
<img src="/images/2016/09/22/24%20Wooltana%20Street.jpg" alt="">
The Smart Investor magazine, published by Fairfax Media, ranked East Cannington as equal best hotspot.
Suburb                   Postcode           Median price          12 month forecast
Como                     6152                $732,500                   3%
East Cannington      6107                $508,000                   3%
Lathlain                 6100                 $895,000                   2%
Rossmoyne            6148                 $1,170,000                 2%
Willetton                6155                 $734,500                   2%
Koondoola             6064                  $405,000                   2%
Yokine                   6060                  $615,000                   2%
Waterford             6152                   $1,095,000                 2%
Chidlow                6556                  $645,000                     1%
Coolbellup            6163                   $520,000                     1%
<a href="/images/2016/09/21/Screen%20Shot%202016-09-21%20at%2010.18.37%20am.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/21/Screen%20Shot%202016-09-21%20at%2010.18.37%20am.png" alt="">
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Como ranks as 2017 top Perth hotspot for investors

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Osborne Park takes the equal top spot as Perth's 2016/2017 hotspot for investing in units with an expected increase of two percent over the next 12 months.
The current median price for Osborne Park currently sits at $386,000, according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.
An example would be a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-wa-osborne+park-120113073" target="_blank">7/154 Edward Street</a> (above) that is currently on sale from $425,000, which is $39,000 above the median price.
<img src="/images/2016/09/22/7154%20Edward%20Street.jpg" alt="">
Similarly a two bedroom unit was recently sold at <a href="https://www.realestate.com.au/sold/property-unit-wa-osborne+park-119045595" target="_blank">6/67 McDonald Street</a> (below) for $392,000, which is $6,000 above the median price.
 <img src="/images/2016/09/22/Unit667%20McDonald%20Street.jpg" alt="">
The Smart Investor magazine, published by Fairfax Media, ranked Joondanna as equal best hotspot.
Suburb             Postcode               Median price             12 month forecast
Osborne Park    6017                     $386,000                        2%
Joondanna        6060                     $419,000                        2%
Burswood         6100                     $488,000                         1%
Bayswater        6053                     $385,000                         1%
Shoalwater       6169                     $290,000                         1%
Nedlands          6009                     $650,500                         1%
Hamilton Hill     6163                     $360,000                         1%
Willeton            6155                     $535,500                         1%
Tuart Hill           6060                    $310,000                          1%
Yokine               6060                    $417,500                          1%
 
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Low price growth but Osborne Park ranks atop 2017 Perth hotspots list

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Perth real estate agent and one of the favourites to win Richie's heart on The Bachelor is currently in a battle with her ex-fiancee on how to divide their property assets.
They currently have two properties in Nikki's home town of Northam, totalling just shy of $1 million.
The first property was bought in 2007, and cost the then couple $540,000.
It's a four bedroom, two bathroom home, which was leased in December 2015 through Nikki's real estate agency at $500 a week.
They then paid $406,000 in 2013 for a slightly smaller three bedroom, two bathroom home.
It was too listed for rent at Howlett and Lawrence First National for $435 per week in December 2015.
Nikki has owned a home independently since 2008, when she paid $350,000.
The four bedroom, two bathroom home has been leased consistently for $390 a week since June last year.
If Gogan is to be the last one standing with a rose, she's likely to head to Strahan's impressive portfolio.
He bought his Cloverdale for in 2008 for $420,000 and subdivided the vast 1040 sqm parcel.
He spent around $300,000 on building a new home at the rear, with local agents suggesting the two properties are now worth around $1 million in total.
Picture courtesy of Network Ten.
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Bachelor favourite Nikki Gogan battles with ex-fiance over property portfolio

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The median sale price in Perth has decreased from $550,000 in July 2015 to $530,000 at present, hence the lazy half million dollars goes a little bit further than it did 12 months earlier, say valuation firm Herron Todd White in their July 2016 residential market report.
"Given the subdued nature of the residential property market, there are many areas with good growth prospects where you will get change out of your half a million, or enter into highly desirable suburbs that were previously out of reach," says the report.
From an investment point of view, the suburbs of Armadale and Kelmscott stand out. These areas saw a flurry of demand from investors several years ago and rents remain quite solid. The volume of new product under development has declined significantly, while the population of the area continues to grow due to being more affordable than other areas closer to the CBD. Hence a villa with three-bedrooms and two-bathrooms which could have cost $330,000 three years ago, is now able to be purchased well below $300,000, while still achieving a rental of $330 per week.
For those of you who are good with a hammer and a paint brush, areas such as Greenwood and Kingsley in the northern suburbs are ripe for the picking. In these areas just 18 kilometres from the Perth CBD, the lazy half a million will snap up a 735 square metre block with a 1970s 3-bedroom house thrown in for good measure, while just a good stone’s throw away, 424 square metre blocks are currently being advertised for $429,000. The area is very popular with families, has arterial transport links on both sides and is only five kilometres from the coast.
Similarly, suburbs such as Ferndale, located just 14 kilometres from the Perth CBD offer 700 square metre allotments with circa 1970 built dwellings for well under $500,000; in fact the median sale price has decreased by some 6.8% over the previous 12 months to $468,000.
Several prominent schools are located in nearby suburbs and the Carousel Shopping Centre in neighbouring Cannington is set to undertake an expansion of some 50,000 square metres of retail space to claim the crown of the largest shopping centre complex in Perth.
In the apartment market, things are a little harder to interpret. Developer asking prices are often very different to contract prices and many re-sales are occurring well below purchase prices from two or three years ago. However, this may provide an opportunity for first home buyers to find well priced, well located apartments that have been overlooked by a somewhat dismissive or lacklustre investor-driven sector. Many opportunities are available in the Perth CBD, with 2-bedroom 2-bathroom apartments available well below $500,000 and one-bedroom apartments available well below $400,000.
"When we discussed where we would spend our lazy half a million twelve months ago, we decided the best bet was to sit on our hands and wait for the market to adjust to the rapidly declining confidence in the residential market.
"We are somewhat happy to say that our advice was sound and comparatively the lazy half a million goes a fair bit further today. We consider that the market is nearing the bottom end of the cycle and the challenge now is whether to try to pick the bottom of the market or simply to take advantage of the incredibly competitive cost of borrowing currently available," write HTW.
"Either way, for the astute investor, we think it’s getting very close to decision making time.
"Will the market continue to trend south or are the positives starting to outweigh the negatives? The big unknown at the time of writing is the market reaction to Brexit and how such a proposal will affect local consumer confidence. I guess we’ll be able to judge that in 2017!"
Property Observer found a recently sold three-bedroom house at <a href="https://www.realestate.com.au/property-house-wa-armadale-122241722" target="_blank">3/40 Dale Road, Armadale, WA 6112</a> for $279,000.
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prateek24-ezbwHMbNAk

With falling median property prices, Perth offers more bang for buck for $500,000: HTW 

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An award-winning Perth home has been sold for $3.1 million.
The 1012 square metre property at <a href="https://www.realestate.com.au/property-house-wa-dalkeith-122149290" target="_blank">42 Circe Circle, Dalkeith</a> was sold by TM Residential agent Tonia McNeilly. 
Renovated in 2008 by award winning builders, Mulberry Homes, the five-bedroom, three-bathroom house was marketed as a family home. 
The house was a finalist for renovation of the year in 2009 and was featured in WA’s Best Homes 2009 magazine. 
The median price for a house in Dalkeith is $2.355 million according to CoreLogic RP Data. 
 
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