Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Perth

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Perth agents reported sales of 777, down 9% on the previous week but remain 5% above the level of four weeks ago. 
The fall, in the week to 10 September, was due to a 9% decline in house sales to 552 which have grown steadily over recent weeks along with a 39% fall in the smaller land component which spiked the previous week and has now returned to recent levels. 
By contrast the multi-residential unit component recorded a 14% increase to 162, which is above the 145 weekly average for 2015. 
There has been little movement in listings <a href="https://www.facebook.com/reiwa/photos/a.97141568749.86931.93433243749/10152683778058750/?type=1&amp;theater" target="_blank">over the past week</a>. 
Rental listings have plateaued around 5,900 in recent weeks after peaking at just over 6,000 in July. 
The latest data for August has the overall median weekly rent steady at $450 and the vacancy rate sitting at 4.0%.
Source: Real Estate Institute of Western Australia. 
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po-LsXgBTHBmX

Rental listings have plateaued: REIWA's Perth property update

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GUEST OBSERVATION
In 2012, the Perth rental market was performing strongly, with rapid increases in rental prices.
With vacancy rates hovering around 2% at the time, many renters were forced to fiercely compete for properties by offering rates well above asking price – even to secure less than ideal properties.
Those conditions led to a steep increase in Perth rental prices, with the median house rent reaching a record high in early 2013 of $480 per week.
Since then, rental market conditions have eased with the current vacancy rate at about 4.1% and the median house rent dropping back to $460 per week.
The increase in vacancy rates has occurred primarily for two reasons. Firstly, more renters are choosing to purchase their own homes as record low interest rates have made buying more attractive.
The move to buy, rather than rent, has also been supported by ongoing state government assistance with first home owner’s in WA eligible to receive up to $10,000 in grants.
Secondly, a slowdown in the state’s mining sector has led to some transient workers leaving Perth as mining companies complete large scale expansion projects.
With Perth’s long-term equilibrium for vacancy rates at about 3%, the current rate of 4.1% is slightly higher than a balanced market.
Despite the slowdown, the Perth property market remains solid with a steady yield of approximately 4 to 4.5%.
The long-term economic future for Perth is still strong and the housing market will continue to perform well in the long term for Perth, albeit with cyclical movements.
One of the main drivers supporting Perth property rentals will be population growth.
The state government’s growth outlook report, <a href="https://www.planning.wa.gov.au/publications/826.asp" target="_blank">Directions 2031</a>, estimates that Perth’s population will increase 35-40% by 2031, which will require 328,000 new dwellings to sufficiently house the population increase. Some private sector forecasters predict much higher population growth.
This will prove to underpin Perth’s property rental price growth in the long-term as well as future housing prices.
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

Despite slowdown, Perth's rental market is strong

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More than $8 million is being sought for the Perth home that was the winner of HIA 2014 Australian Home of the Year.
The home that beat 1,300 rivals was built by multi-award winning Giorgi Exclusive Homes.
"This state of the art, uber luxurious home was designed to capture the ultimate in everyday quality living and mind blowing entertaining," agent <a href="https://www.spacerealty.com.au/ressale/dalkeith/42-hobbs-avenue-dalkeith/6939385.aspx" target="_blank">Linda Sullivan at Space Realty</a> said.
Offers are due by 15 October for 42 Hobbs Avenue, Dalkeith.There is 843 square metres of living space with five large king size bedrooms all with built in robes and desks.
There are three bathrooms and three powder rooms. It comes with home theatre, lounge, dining, family room, parents retreat, two study nooks, wine cellar, three kitchens, and infinity edge heated pool and spa.
<a href="https://www.giorgiexclusivehomes.com.au/featured-homes/42-hobbs-avenue-dalkeith-western-australia" target="_blank">Giorgi Exclusive Homes</a> took out the top award winning the 2014 HIA-CSR Australian Home of the Year in May this year. They also won the award for the Australian Custom Built Home partnered by Stramit Building Products.
The property developer Claude Giorgi and his wife Clarretta are empty nesters so have listed their own residence which stands on a 1,102 square metre block.
The block cost $2.49 million in 2010.
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jchancellor-FAypfDUnLy

The 2014 HIA home of the year in Dalkeith, Perth listed for $8 million plus

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Next month, construction will begin on the $15.5 million boutique apartment development The Whitfield located in <a href="/news">Bassendean</a>.
Builder PACT Construction have been announced as the successful tenderer.
The complex, with 34 apartments, a cafe and office space, spanning four levels, will take about 58 weeks to complete with a build contract value of $7.7 million.
<a href="https://thewhitfield.com.au/" target="_blank">The Whitfield</a>, at 78-80 Old Perth Road, includes one and two bedroom apartments. The office space has already been sold to a financial services company, as have the café premises.
Every apartment includes a private balcony and the complex has secure parking, bicycle storage, air-conditioning and CCTV.
One bedroom apartments are priced from $379,000, with two bedrooms available from $469,000. A "typical one bedroom" apartment includes 84 square metres, with a "typical two bedroom" apartment spanning 113 square metres.
At present, it is already 75% sold, predominantly bought by local residents intending to owner occupy the apartments, said The Whitfield developer Willing Property founder Tim Willing.
“The Whitfield will further enhance Bassendean’s status as a town on the rise, with excellent transport, local amenities, access to the CBD and Swan Valley along with an emerging café, local shopping and small bar scene,” he said.
“This is the third project for Willing Property in the past year, which include The townhouses in Mt Hawthorn, where we revamped 42 three-bedroom and two bathroom townhome residences, as well as our forthcoming riverfront land lots in Bayswater.”
Architect John Silbert and Associates have designed a red façade and incorporated a private central garden atrium, waterwise landscaping and BBQ facilities.
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jduke-EHk3XBmHkn

Construction poised to commence at Perth’s $15.5 million The Whitfield

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The Western Australian State Administrative Tribunal has fined a South Perth real estate agency $15,000 and its former property manager $8,000 for their actions surrounding the management of two rental properties and associated trust accounts.
Julia Barratt-Hill, a former property manager at Swan River Real Estate, was ordered to pay court costs of $1,000 in addition to the $8,000 fine after fabricating an owner's statement. She was also disciplined for failing to deal with rental payments in an "organised and competent way" and misleading property owners. 
The owners believed their property had a tenant when it was vacant, and despite repeat requests to keep them informed, Barratt-Hill failed to provide them with information about their lease agreement. 
Prosser Real Estate Pty Ltd, which trades under Swan River Real Estate, was fined $5,000 in relation to the 2011 events and an addition $10,000 for unlawful dealings related to their trust accounts and failing to keep accurate and full accounts that could be audited. Their breaches were the result of Barratt-Hill's actions in 2009, 2010 and 2011.
Despite the directors paying back the money they withdrew from the trust accounts, with no clients losing money, Swan River Real Estate's licensee Lorraine Florence Prosser was fined $5,000 for failing to supervise the agency to a sufficient standard. The penalty was also a result of her failure to ensure Barratt-Hill, who was an employee of Swan River Real Estate from 2003 to 2011, complied with the industry Code of Conduct.
Swan River Real Estate was ordered to pay court costs of $2,500 in addition to its $15,000 fine
Commissioner for Consumer Protection Anne Driscoll said all licensed real estate agents and their employeers were obliged to adhere to all laws relating to their agency's operations.
“The basic foundation of the Code of Conduct is for agents to have fair, honest and transparent dealings with property owners at all times in terms of disclosure of accurate information about the tenancy, the provision of copies of lease agreements and the timely release of financial statements,” said Driscoll.
“It is also an obligation of licensed real estate agents to operate their trust and operating accounts in a way that complies fully with the law. Financial records should be kept up to date and organised in such a way that allows for easy checking and auditing.”
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jrichardson-uRX5hFdKfN

South Perth real estate agency fined over trust account and property management deception

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The median price of a house in Perth was $535,000 for July, according to RP Data.
House prices dipped slightly for the month, down 0.6% from June. Annually, Perth house values increased 7.9%. Only Hobart and Canberra saw a lower level of yearly growth, with both recording a 6.3% increase.
Many investors use median prices as an indication of what it would cost to get into a market. So what exactly does a "median priced" house in Perth look like?
Property Observer looks at recent Perth house sales to see what $535,000 will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-wa-heathridge-117400035" target="_blank">14 Littorina Avenue, Heathridge</a> <img src="/images/2014/08/25/1.jpg" alt=""> This three bedroom, one bathroom house in Perth's northern suburbs sold for $530,000 this weekend. Set on a 712 square metre corner block, the house has a double garage and plenty of room on the back for more cars or boats. The property's listing claims it "could have outstanding subdivision potential". Price: $530,000 Bedrooms: Three Drive to CBD: 21 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-bennett+springs-116845435" target="_blank">6 Shelduck Crescent, Bennett Springs</a> <img src="/images/2014/08/25/2.jpg" alt=""> Selling for $540,000, this house has four bedrooms and two bathrooms. The ex-display home has ducted air-conditioning, a double remote garage, security alarm system and an outdoor entertaining area. The house in Perth's north is set on a 622 square metre block, with a backyard and shed. Price: $540,000 Bedrooms: Four Drive to CBD: 25 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-high+wycombe-116741367" target="_blank">12 Golden Crescent, High Wycombe</a> <img src="/images/2014/08/25/3.jpg" alt=""> This four bedroom, two bathroom home sold for $539,000 earlier this month. The single storey house is set on a 757 square metre block, with a covered outdoor entertaining area and backyard. The living areas have timber flooring, while the bedrooms are carpeted. Price: $539,000 Bedrooms: Four Drive to CBD: 26 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-coolbellup-104453851" target="_blank">20 Lockett Street, Coolbellup</a> <img src="/images/2014/08/25/4.jpg" alt=""> The three bedroom house at 20 Lockett Street sold for $535,000. With two bathrooms, a lounge room, kitchen and dining area and tiled family space, the house also comes with a single carport with room for five cars in single file. The home, set on a 853 square metre block, is currently tenanted until October at $380 a week, with an annual yield of 3.69%. Price: $535,000 Bedrooms: Three Drive to CBD: 20 minutes 
</li>
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<a href="https://www.realestate.com.au/property-house-wa-parkwood-117056907" target="_blank">19 Abercairn Way, Parkwood</a> <img src="/images/2014/08/25/5.jpg" alt=""> This four bedroom house secured $530,000 when sold earlier this month. The carpeted house has built in robes in three of the four bedrooms, a family room and a lounge and dining area. The house comes with two garden sheds and a lock up car port. Price: $530,000 Bedrooms: Four Drive to CBD: 22 minutes</li>
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What can you buy for Perth's median house price?

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A Chinese developer has paid $36 million for the former Matilda Bay Brewery in North Fremantle.
The light industrial site in the Perth suburb is a 2.9-hectare holding.
The 130 Stirling Highway site was a Ford factory before it was a brewery. 
It is expected to hold between 350 and 400 ­apartments, as well as retail and commercial property, subject to council approval and design guidelines, Knight Frank’s WA managing director John Corbett suggested.
It previously sold at $2 million in 1988. 
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Chinese developer pays $36 million for former Matilda Bay Brewery site

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Perth's property market is dragging the chain with its weakening price growth directions.
The latest RP Data figures puts the annual growth at 3%.
<img src="/images/2014/08/20/rp-data-aug-20-one.jpg" alt="">
Source: RP Data.
The national capital city growth sits at around 10.7%.
Just six weeks ago Perth's annual price growth sat at 4.8% at 6 July.
<img src="/images/2014/08/20/rp-data-aug-20-two.jpg" alt="">
Source: RP Data as of 6 July.
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Perth's annual price growth in rapid reverse: RP Data

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Ocean Zone, a sleek four-bedroom, three-storey Perth home with pool and subterranean parking, was listed with $6.9 million hopes in early 2013.
But it has now sold at $4.88 million. <a href="https://www.porteous.com.au/index.cfm?pagecall=property&amp;propertyID=2647540" target="_blank">The Porteous website lists it as under offer</a>.
It's a Swanbourne house designed for the Campbell family by architect Kerry Hill who reportedly has replicated his Hayman Island and Aman Hotels design ideas for Ocean Zone. 
The pool is in a submerged courtyard at the side of the four-bedroom, five-bathroom house.
The narrow living area opens up to the adjacent Nedlands Council Allen Park. The block was bought from the council for $465,000 in 2000.
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Ocean Zone, Swanbourne WA home sells for $2 million less than original asking price

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Perth’s median house price has dipped further since the close of June, but rents are holding steady, according to the Real Estate Institute of Western Australia’s (REIWA) latest July property price data. 
The preliminary data from REIWA shows the median price down 0.2% to $540,000. REIWA president David Airey notes that this may be due to weaker market activity in the centre of the metropolitan area.
“Our analysis suggests Perth’s median price for the three months to July looks to have fallen 1.8% from the market peak in the three months to April,” Airey said.
Turnover was also trending downwards by 10% on June and actually close to the April period.
Sales increased in Bayswater and Bassendean in July, by 10 transactions to 84 together. Joondalup also saw an increase, of 11 transactions to 64.
However, these were stand outs.
Belmont saw sales drop by 21 to 37, the western side of the City of Stirling dropped 21 to 114, the City of Swan dropped 21 to 37 and Gosnells dropped 19 to 144.
The western suburbs dropped the most prominently, by 44%. This took the sales down to 62.
Airey pointed to weak first time buyer activity for these soft results.
“Listings fell right across all sub-regions of Perth but the south east region through Armadale and Gosnells saw the strongest drop, with listings falling 11% and removing 167 properties from market,” he said.
Despite this, the rental market is holding steady and has done for three months. Median rent current sits at $450 per week – or $460 per week for a house and $435 per week for an apartment, unit or villa.
The Cities of Canning and Kalamunda both softened by $10 to $440 per week, while South Perth and Victoria Park dropped $20 to $450 per week.
Rental listings across Perth were up 4% with the greatest increase seen in the southeast subregion through Armadale and Gosnells, along with the City of Perth.
“Despite the general increase in rental listings, some areas saw a tightening in these with the biggest fall being noted in the western part of the City of Stirling, down 37 properties to 292,” Airey said.
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