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

<html><body>
A Western Australian property manager, Van Dung Nguyen, formerly of Girrawheen, Perth, has been banned from holding a real estate and business agents’ licence, as well as a triennial certificate, for five years. He was also fined $3,000.
Nguyen failed to deposit rental income into a trust account, receiving $13,660 from a tenant for rent, water rates, strata levies and management fees between January 2012 and October 2012, which he then used to pay personal expenses and unrelated business expenses.
He operated Golden Investments Pty Ltd, which is now deregistered. The owner of the Girrawheen properties was left out of pocket.
Nguyen filed for bankruptcy in September 2013 and now lives in Queensland.
The fine was decided at the Western Australian State Administrative Tribunal on 20 November 2014.
Commissioner for Consumer Protection Anne Driscoll said that income from rental properties needed to be kept separate to the operational account.
“The law requires that rent and other payments from tenants must be placed in a separate trust account so that the transactions are transparent and the funds cannot be mixed with the day to day financial operations of the agency,” Driscoll said.
“This allows for easy auditing and gives both the tenant and property owner confidence to know that their funds are being used appropriately.”
She noted that real estate agents who take money from the trust accounts, even on a borrowing basis, to pay operation expenses are breaking the law.
</body></html>

jduke-EHk3XBmHkn

Perth property manager banned for five years after using rent for personal expenses

<html><body>
If you’re familiar with the Perth property market, you’d be aware that the ‘spring selling season’ is considered the most active selling period of the year. 
However this isn’t entirely accurate.
While it’s true there is generally a surge of activity during spring, there is a misconception that September is the start of the boom period, when in fact data suggests sales don’t pick up until October.
Closer analysis of the spring selling season indicates that September is actually the Achilles heel of the notional spring selling period.
There has only been one occasion since 1994 – September 2008 – that we actually saw a lift, every other September in the past 20 years has actually seen sales fall.
Having one less selling day than July, August and October is one theory behind why there is traditionally a drop in September, another is the long weekend that tends to fall during the month, and a case could also be made that with September being the last month for many sporting codes, weekends are taken up with finals instead of home inspections.
The impact these factors have on overall activity cannot be officially measured, but it’s reasonable to suggest they influence activity.
When we really look at it, the spring selling season is confined to just October and November as we then experience a fall away in activity in December as we approach the festive season.
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dairey-MVZf5ZguQC

Perth's spring selling myth

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The Perth residential property market is officially in decline.
House prices fell in Perth during the September quarter, albeit by just 0.1%, according to the Australian Bureau of Statistics (ABS).
It was the only capital to record a decline in the ABS price index, released today.
Perth dwelling prices still sit 3.6% up for the year, but gone are the days when Perth’s housing market was the strongest in the country, boosted by the thriving mining industry.
Westpac economist Matthew Hassan noted the preliminary estimate of the ABS Residential Property Price Index showed "a notable slowdown" in Perth with prices flat over the last six months.
The preliminary estimate of the ABS Residential Property Price Index showed a solid 1.5% gain in Q3, down on Q2's 1.9% gain but in line with Q1's 1.4% rise.
Annual price growth has moderated from a peak of 10.8% at the start of the year to 9.1% in Q3, a result that was in line with expectations, Hassan suggested.
"All price measures are pointing to a clear moderation in momentum in 2014 although most suggest this is a step down from a 10-14% annualised pace to a 6-8% pace.
"To date, readings for the second half of the year point to a continuation of this pace rather than a further slowdown.
The ABS index detail shows national house prices up 1.6% over the quarter, 9.2% over the year and attached dwellings up 1.2% over the quarter, and 8.5% over the year.
He noted that estimates for Q3 and Q2 are still preliminary and subject to revision.
The ABS plans to change this arrangement in 2015, pushing back the release date by six weeks so that published figures will be 'final' from first release.
"Unfortunately that will make what is already the last price measure to be published even less timelier and useful for analysts," Hassan said.
The capital city breakdown continues to show strong gains in Sydney (+14.6% year on year), more moderate gains in Melbourne (+6.9% year on year), Brisbane (+6.7% year on year) and Adelaide (+5.6% year on year).
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jchancellor-FAypfDUnLy

As mining eases Perth residential market marginally in decline: ABS

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The third floor apartment in a luxury South Perth promenade apartment building has sold off the plan for $15.2 million.
Setting a new Perth apartment price record, the sale represented $35,000 per square metre.
<img src="/images/2014/11/05/south-perth-nov-4-one.jpg" alt="">
The 93 South Perth Esplanade is four riverfront reserve apartments which was recently completed.
The local paper says it was purchased during construction by an unidentified leading Perth businessman in education and energy provision, and his wife.
Property Observer gathers it is Rod Jones and his wife, Carol.
<img src="/images/2014/11/05/south-perth-nov-4-three.jpg" alt="">
The project is headed by estate agent Mal Dempsey who owns the penthouse in the building. He is one of four syndicate members involved in the development of the complex.
The second floor is set to come on the market with more than 600 square metre of space, with four en suite bedrooms, three separate living areas, a wine cellar, four-car garage and a library.
Property Observer gathers the previous highest sale along the prime promenade was $10.8 million in 2012. There was a $9.8 million sale in 2010.
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South Perth record $15.2 million off the plan sale

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The Real Estate Institute of Western Australia’s (REIWA) latest figures have Perth’s median house price lifting 1% over the September quarter to $548,000.
However, REIWA’s president David Airey warns a downturn should be expected in 2015.
While the median price is up by a small amount, sales turnover is now at its lowest level in two years, with listings for sale trending upwards fast while rents fall. This spells bad things for property owners over the next year, says Airey.
Here are the Real Estate Institute of Western Australia's signs a downturn is coming:
<ol>
<li>Turnover for Perth houses sits 12% below average. 
</li>
<li>There were 10,250 listings in the September quarter. 
</li>
<li>House price growth is currently moderating – up only 1% over the September quarter. 
</li>
<li>Average days on market up by two days, to 59. 
</li>
<li>Number of vendors dropping their asking prices increased from 48% to 51% (with an average price reduction of 5.3%). 
</li>
<li>The rental market’s number of properties for lease did soften (now at 5,711), however this is almost 50% up on September 2013. The vacancy rate is at 4% and it takes owners an average of 33 days to find a tenant. 
</li>
<li>Rents have softened across Perth – house rents are down $10 to a median of $450 per week. Apartments, units and villas dropped by $15 to a median of $430 per week. This is down 4.3% on last year.</li>
</ol>
Source: REIWA
There is some good news. Airey points to turnover for units, apartments and villas up 7%, despite early Landgate data pointing to a 3.3% fall in median price to $435,000. Regional areas also bucked the downturning Perth trend, with turnover unchanged over the quarter.
First home buyers may be making a small resurgence, with an increase in turnover in the price sectors below the median price – a typical first home buyer activity spot. The Office of State Revenue noted that as of September, the median first home buyer purchase is now at $432,00 compared to $456,500 in July.
“This is good news for first home buyers on one hand, but it also shows they are becoming harder to find in the established home market,” Airey said.
Across the city, investors need to be astute and look for signs of change ahead, said Airey.
“The extent to which the low level of sales, increase in listings, soft rental market and low consumer sentiment might influence the housing system in the longer term may become apparent in the December quarter,” he said.
“Perth’s equilibrium for listings in a balanced market is around 12,000 and indications are that we will clearly surpass this in 2015 which will add to selling days and put downwards pressure on price.”
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Seven signs a Perth market downturn is nigh: David Airey

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A new report from Knight Frank, shared on Twitter by associate director Michelle Ciesielski, includes a forecast that Perth’s capital growth will remain steady.
The Perth Apartments Residential Market Brief for Q3 2014 points to local and foreign developers pushing ahead with new projects in Perth, with the strongest projected population growth for all capital cities across the country.
<a href="https://www.propertyobserver.com.au/https://twitter.com/MCiesielski_AU/status/527624334504763392" target="_blank"><img src="/images/2014/10/30/tweet-oct-30-one.jpg" alt=""></a>
“Three quarters of Western Australia’s population live in the capital of Perth. Over the next 30 years this population is projected by the Australian Bureau of Statistics (ABS) to rise annually by 3.5% to 4.2 million persons, far outstripping the projected annual Australian average of 1.7 percent,” writes Ciesielski <a href="https://content.knightfrank.com/research/313/documents/en/perres1410-2427.pdf" target="_blank" style="line-height: 1.3em;">in the report</a>.
In the year to August 2014, a total of $177 million of development sites were purchased. Foreign buyers were noted as making up 25% of these sales.
When looking to building permits to July 2014, the Australian Bureau of Statistics tallied 7,036 approvals – up 24.2% on the previous year.
The strongest LGAs were as Stirling - with 1,157 approvals - Belmont and Cockburn.
However, even with strong population figures and apartment developments, Knight Frank expect a steady environment rather than strong capital growth in 2015.
They believe vacancies may trend above the 3% “market equilibrium” for the medium term due to new supply coming onto the market.
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Knight Frank predict steady Perth unit market: Tweet of the day

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GUEST OBSERVATION
The declining rate of infill housing in Perth means that a state government backflip on residential design codes would be detrimental to the city’s future development, leading to a restriction in housing choice and further urban sprawl.
Perth’s infill rate, that is residential developments within established suburbs compared to greenfield areas, dropped to 28% in 2012 - down from 32% in the previous year.
The figures, which were recently published by the Western Australian Planning Commission’s (WAPC) Urban Growth Monitor report, fall extraordinarily short of the long-term infill target of 47%.
This target was set as part of the state government’s strategic development plan, Directions 2031 and Beyond, and created to slow Perth’s urban sprawl as the city’s population is expected to balloon substantially in the years ahead.
The fact that the city’s infill rate is far below the long-term target, and more critically, that the rate is actually declining, demonstrates that calls from the WAPC to cut the number of dwellings allowed on certain properties would further undermine Perth’s development strategy.
The WAPC is seeking ministerial approval to effectively reverse a 2010 amendment to residential design codes that significantly increased the number of dwellings allowed on properties zoned R-30 and R-35.
The amendment cleared the way for up to 10 units to be built on 1,000 square metre blocks that are zoned R-30, up from just three units previously.
The move to scrap the amendment is in response to concerns about the impact on predominately single dwelling or grouped dwelling neighbourhoods.
<blockquote>
Fast Facts:
32% – The historical net infill housing rate in Perth 47% – The long-term housing infill target rate 59% – Portion of infill developments with one dwelling (2011-2012)
</blockquote>
While I agree that medium or high density housing should not be on every street on every suburb, if the WAPC’s calls are granted, then it simply gives the green light for councils to further resist development in established areas, producing and exacerbating problems for the wider community.
If the state government was to backflip on these reforms it would only put further downward pressure on Perth’s development infill rate and make it very difficult to reach the infill target of 47%.
Subsequently, housing choice in established suburbs would be significantly diminished, more people would be forced to live on the urban fringe and housing values would be impacted.
While it is understandable that some might hold concerns about increased traffic in medium and high-density areas, studies have found that building such developments near public transport generally have minimal impact.
Furthermore, if managed and designed properly, a 10 unit development can be smaller in size than three townhouses on one lot.
If Perth is going to accommodate a rapidly growing population, which increasingly wants to live near work and amenities, we simply can’t afford for the urban sprawl to continue indefinitely.
<img src="/images/2014/10/27/collins-oct-17-one.jpg" alt="">
Damian Collins is the founder and managing director of <a href="https://www.momentumwealth.com.au/" target="_blank">Momentum Wealth</a>, a Perth-based property consultancy that specialises in building the long-term wealth of its clients by assisting in the strategic selection, financing, acquisition, development and management of their investment properties.
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DamianCollins-BiwU8NaWEC

Perth risks indefinite urban sprawl with new residential zoning proposals

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The WA government’s strategy to reform local government in Perth has been welcomed by the Property Council of Australia, after a recent report recommended slashing the number of councils.
The Local Government Advisory Board’s final report suggests reducing the total number of councils from a current figure of 30 down to 16.
Property Council of Australia executive director Joe Lenzo said that there is a lot of uncertainty in the property sector that the announcement will help clear up.
“It is now crucial that the government meets its 1 July 2015 deadline for implementing the majority of the new local government framework,” Lenzo said.
“The new local government framework, with larger and better resourced councils, will mean property businesses and the community can expect more timely and effective services like local planning and building approval processes, and greater support for the growth of local economic centres.”
He noted that the Property Council endorses the introduction of the City of Perth Act that would recognise the investment occurring in Perth CBD and its benefits for the rest of Western Australia.
“We recognise that it will take longer for the formation of the new City of Riversea, including five western suburb councils, however the full benefits of local government reform in Perth will only occur if this matter is also resolved as soon as possible after 1 July 2015,” he said.
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Perth’s council reform welcomed by Property Council of Australia

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Recently, Momentum Wealth’s Damian Collins wrote a couple of articles about the environment in Perth, generating some interesting reader comments.
He has a <a href="/news/wa/perth-property-market-tipped-to-heat-up-for-spring">positive outlook for where values are heading in Perth this season</a>, noting that despite the slowdown in recent months, after solid 2013 growth, there may yet be an uptick left for spring.
“While the market may be a little more volatile due to the fluctuations in the mining sector, the long-term outlook remains very positive,” he concluded.
He also noted that <a href="/news/wa/despite-slowdown-perths-rental-market-is-strong">the rental market is expected to improve</a>.
{mijopolls 47}
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Perth’s market conditions: Uptick or slowdown?

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Another 26 metropolitan Perth suburbs recorded house and unit sales of $1 million or more, according to new data from the Real Estate Institute of Western Australia (ERIWA).
According to REIWA, 8.2% of houses and 3.4% of apartments sales were between $1 million to $2 million, as compared to 6.7% of houses and 3.3% of apartments in 2012/2013.
REIWA president David Airey notes that their list of suburbs is based on where transactions occurred at this price point, not where the median exceeds $1 million. This means the list won't look quite as expected to those used to seeing "million dollar median" lists.
“Six suburbs are completely new to this list while others have returned from previous years after being absent in 2012-13,” Airey said.
Some of the sales included large blocks with single dwellings that would suit multi-residential developments purposes, with others being more typical.
At present, REIWA data records Perth’s median house price at $540,000, with apartments’ median sitting at $450,000.
The June quarter median recorded price per lot for land was $285,000. The regional WA median prices for houses, apartments and land lots were $380,000, $330,000 and $180,000 respectively.
The six new entrants on the million dollar list:
<ol>
<li>
<a href="/news">Ellenbrook</a> 
</li>
<li>
<a href="/news">Huntingdale</a> 
</li>
<li>
<a href="/news">North Lake</a> 
</li>
<li>
<a href="/news">Piara Waters</a> 
</li>
<li>
<a href="/news">Pickering Brook </a> 
</li>
<li><a href="/news">Wandi</a></li>
</ol>
Source: REIWA
See over page for the entire list of million dollar transaction suburbs.
<hr class="system-pagebreak">
The 26 new suburbs added to the million dollar transaction suburb list:
<ol>
<li>
<a href="/news">Atwell </a> 
</li>
<li>
<a href="/news">Bedfordale </a> 
</li>
<li>
<a href="/news">Belmont</a> (notably the only new entry with apartment sales over $1 million) 
</li>
<li>
<a href="/news">Currambine </a> 
</li>
<li>
<a href="/news">Edgewater</a> 
</li>
<li>
<a href="/news">Ellenbrook</a> 
</li>
<li>
<a href="/news">Golden Bay </a> 
</li>
<li>
<a href="/news">Gosnells </a> 
</li>
<li>
<a href="/news">Harrisdale </a> 
</li>
<li>
<a href="/news">Helena Valley</a> 
</li>
<li>
<a href="/news">Huntingdale</a> 
</li>
<li>
<a href="/news">Kelmscott </a> 
</li>
<li>
<a href="/news">Madeley </a> 
</li>
<li>
<a href="/news">Mount Nasura </a> 
</li>
<li>
<a href="/news">Munster</a> 
</li>
<li>
<a href="/news">North Lake</a> 
</li>
<li>
<a href="/news">Piara Waters</a> 
</li>
<li>
<a href="/news">Pickering Brook </a> 
</li>
<li>
<a href="/news">Port Kennedy </a> 
</li>
<li>
<a href="/news">Secret Harbour </a> 
</li>
<li>
<a href="/news">Spearwood </a> 
</li>
<li>
<a href="/news">St James</a> 
</li>
<li>
<a href="/news">Wandi</a> 
</li>
<li>
<a href="/news">Warnbro </a> 
</li>
<li>
<a href="/news">White Gum Valley </a> 
</li>
<li><a href="/news">Wilson</a></li>
</ol>
Source: REIWA
You might also want to read:
<a href="/news/wa/western-australias-10-most-expensive-suburbs-to-rent-a-house">Western Australia's 10 most expensive suburbs to rent a house</a>
<a href="/news/the-2014-hia-home-of-the-year-in-dalkeith-perth-listed-for-8-million-plus">The 2014 HIA home of the year in Dalkeith, Perth listed for $8 million plus</a>
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