<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

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The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
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Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

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Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Perth

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The median house price of Hillarys recorded in the March quarter was $750,000, a two per cent fall compared to the previous year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
Hillarys is a suburb 23 kilometres north-west of the Perth CBD and is located along the coastline of the state.
It includes the attraction of Hillarys Marina consisting of popular cafes and restaurants.
The report notes the suburb consists mainly of dwellings at 88.9 per cent of the suburb’s property types, with some dated from circa 1970 onwards.
Sections of the suburb have recently undergone zoning changes, which have seen developments and subdivisions increase within the suburb.
For example, <a href="https://www.realestate.com.au/sold/property-house-wa-hillarys-132693562" target="_blank">3 Nash Street, Hillarys </a>(pictured below) sold for $740,000 in February.
The property is a circa 1972 renovated four-bedroom, two-bathroom dwelling with a double carport situated on a 754 square metre block.
The dwelling has 248 square metres of living area and externally there is a below ground pool and gable patio.
The land is zoned Residential R20/60 and has confirmation from the local council that the property has subdivision potential of four to five lots.
Along with the subdivision potential, the existing house is also in a good condition to rent out for a set period of time and benefits from parkland access to the rear of the property.
Currently the median rental for a four-bedroom property in Hillarys is $560 per week as at 15 June.
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Scarborough is a suburb located 13 kilometres north-west of the Perth CBD and is the location of one of Perth’s most iconic beaches. 
In 2017, a redevelopment was undertaken on the Scarborough foreshore area with over $54 million being spent by the state government and local council to revitalise the area in order to improve its reputation and create a new family oriented destination. 
The suburb has a diverse range of options for property types for people looking to enter the suburb, which mainly consists of villas and townhouses covering over 50 per cent of all properties.
Old character dwellings that have been completely renovated to a modern standard,  circa 1940s onwards, are also available and would represent the best value currently for $700,000 in this market.
The median house price for the suburb for the March quarter was $736,000, which was only a 0.8 per cent decrease from the previous year.
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129 Burniston Street, Scarborough (pictured below) sold in April for $727,500, having been on the market for 40 days. 
The dwelling is a fully renovated circa 1948 street facing survey strata three-bedroom, two-bathroom dwelling with a secure double carport situated on a 370 square metre block.
The renovations completed on this property retained the character of the home and provide a modern and traditional style of living that is highly sought after in this pocket of the suburb.
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Located 17 kilometres north-west of Perth, Duncraig is a suburb that will offer buyers an abundance of options for the $700,000 budget, with a number of four-bedroom, two-bathroom family homes being offered in the market. 
The March quarter had the median house price of the suburb at $656,000 which was a 2.8 per cent decrease compared to this time last year. 
"In the suburb you can find properties dating back to circa 1970s that have been renovated and are on generous sized blocks perfect for families," the valuation firm said. 
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In January, 8 Mohonia Place, Duncraig sold for $722,000 having been on the market for 12 days. 
The property is a circa 1987 renovated four- bedroom, two-bathroom dwelling with a double garage situated on a 705 square metre block.
It offers 170 square metres of living area with a recently renovated kitchen and master bathroom as well as a spacious entertaining area outside with a gable patio and below ground pool. 
"This is just one of many examples of four-bedroom, two-bathroom dwellings offered within the suburb at an affordable option in a great location," the valuation firm said. 
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j.ballantyne1990-6AQqhLzZaK

What a lazy $700,000 can buy in north-west Perth: HTW residential 

What a lazy $700,000 can buy in Perth: HTW

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House rents declined marginally from the three-and-a-half year high achieved last quarter, while unit rents held steady at $320 a week, the highest asking price since mid-2016, according to the June Quarter rental report from Domain.
Perth’s rental market has bounced back from the post-mining boom lull, with advertised rentals continuing to shrink, giving landlords ground to raise asking rents in certain areas.
Rental discounting has been concentrated in Perth's inner-city region, and now is time for those looking to move closer to search for a rental bargain.
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June 2020 QoQ change for Perth rental prices
“Perth’s rental recovery looks set to continue. House rents declined marginally by $5 a week from the three-and-a-half year high achieved last quarter. Unit rents held steady at $320 a week, the highest asking rent since mid-2016.”
“The market has improved considerably from the post-mining boom lull. The number of advertised rentals continues to shrink, down 19 per cent from March and has dropped 32 per cent over the year. Tenants will find rental conditions have tightened. The number of vacant rental properties is steadily shrinking, providing landlords greater grounds to raise asking rents in certain areas.”
“During the height of the pandemic lockdown, rental discounting lifted marginally, although consistently fewer rentals are being discounted compared to last year. Discounts have been largely concentrated in Perth’s inner-city which has more plentiful apartment rental supply,” said Domain Senior Research Analyst, Dr Nicola Powell.
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Perth's rental recovery is set to continue: Domain

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The COVID-19 restrictions have given homeowners the chance to review their living spaces, with many people looking at ways to further improve their homes, according to the June Herron Todd White (HTW) residential report. 
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The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
Corelogic recorded a 0.2 per cent price increase in the Perth median house price to $477,000 throughout April, indicating that values remained steady in the initial impact stages of COVID-19.
The number of listings decreased five per cent compared to the previous month with 11,670 properties recorded for sale at the end of April, which is below historical numbers and indicates that the market is moving towards a period of undersupply – depending on where demand levels out.
When home open inspections were temporarily banned due to the Coronavirus restrictions, the Real Estate Institute of Western Australia (REIWA) recorded under 300 sales transactions per week during April compared to recording over 500 transactions per week over the same period last year. 
The week ending 10 May recorded a 32.7 per cent increase in sales activity with 527 sales recorded in the Perth region compared to the previous week. 
Confidence within the market is slowly beginning to recover which has been helped by home opens being reinstated with a maximum of 10 people allowed and a further maximum of 20 people allowed as of 18 May.
Within Perth, the REIWA recorded 5420 properties for rent as of 10 May, which is a four per cent decrease in comparison to four weeks before and 23 per cent lower than this time last year.Leasing activity has increased by 31.5 per cent from the end of April to the start of May.
Until recently, agents across south-west Western  Australia were experiencing very few enquiries and were frustrated by the inability to interact with potential purchasers due to restrictions on home opens.As a result of the lack of sales transactions, it has been difficult to get any firm idea as to the effect on values.
"The easing of Coronavirus restrictions has seen a flurry of new enquiries however it is not yet back to the pre- pandemic levels," the valuation firm said. 
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Prior to the world pandemic, Western Australia’s property market was improving consistently with consecutive levels of growth being recorded, the report noted. 
 Senior Research Analyst for Domain, Nicola Powell, said that houses in Perth were being discounted at an average rate of 7.85 per cent during April, compared to 11.9 per cent recorded last year.
One real estate agent reported that 60 per cent of their transactions were between one and three per cent of the original asking price.
"Many believe that Western Australia will perform stronger than other states given its stage of the property cycle before the impact of COVID-19, however many industry experts have stressed concern that the government incentives are only a short term solution and that we could be in for more pain in the long run," the valuation firm said. 
Renovations
The Coronavirus pandemic has produced very few upsides, however one positive outcome has been the increased time spent with our families, friends and loved ones, the report noted. 
The extended homestay period has brought boredom to a whole new level for some. The COVID-19 restrictions have given stir-crazy homeowners the chance to review their living spaces, with many people looking at ways to further improve their homes.
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"Renovating is well known for increasing the value of property as well as bringing new life to dated dwellings, however we do know that alterations almost never boost value at a one-to-one ratio with cost," the valuation firm said. 
With many experts tipping the Australian property market to plummet between one to twenty per cent over the coming year, renovating could look like a fine prospect to offset some of that damage for people with job security.
Though solid statistics are sparse, one article by 9 News suggests that Australian renovation jobs were down 15.55 per cent in April 2020 compared to March, however this is not in line with the anecdotal evidence we are seeing on the ground.
Commonwealth Bank of Australia economist, Gareth Aird, recently said that “there has been a 25 per cent increase in credit and debit spending on household furnishings and equipment compared to a year ago”.
Simon Bligh, Chief Executive Officer of credit bureau Illion, said the average Australian spent 38 per cent more per week on home improvement compared to before the lockdown (Sydney Morning Herald, 2020).
"Although renovation work generally drops when there’s a dip in consumer confidence, this has never been combined with residents having spare time around the house, so it will be interesting to see which way the pendulum swings over the June quarter, especially since restrictions appear to be changing almost weekly," the valuation firm said. 
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In the early stages of the pandemic, much of the expectation was for renovation work to slow down as the supply chain for home improvement parts and equipment was halted and product availability from China was lacking, the report noted. 
On top of this, looming social distancing restrictions posed a threat to tradespeople working in close quarters. Fortunately, as of 18 May, restrictions were relaxed to allow gatherings of up to 20 people. 
This should provide some relief to developers, builders and tradespeople alike, however applying the four square metre rule may still be tricky in some work sites.
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Many building and renovation businesses have had to change the way they operate alongside the rest of the country by adding services such as video call consultations, where consultants take a virtual tour through the home as the owner shows them around.
Small projects such as updating blinds and carpets, landscaping, gardening and painting have seen Bunnings and other outlets quickly run out of stock and many residents have become keen DIYers during long stretches at home.
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In terms of what we have experienced here in Western Australia, chatting with agents, property managers, investors and homeowners suggests that renovation work has in fact increased, particularly in the upper middle price bracket of circa $700,000 plus. 
This may be due to hierarchal employment and the fact that younger and older, lower income earners have (generally) been hit the hardest or are not in a financial position to be thinking of renovating.Historically low interest rates have clearly been enticing homeowners into refinancing to top up their borrowings.
Historically low prices provide fantastic opportunities for anyone willing to tackle a new renovation here in Western Australia.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/parkwood.jpg" alt="">
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The Parkwood property at 23 Romney Way (pictured above) is under contract for $370,000.
The circa 1974 build comprises four bedrooms, one bathroom and a single garage with an attached carport, built on a 713 square metre allotment.
This shows exceptional value for money if you are willing to get your hands dirty and renovate, as the same block of land ten kilometres further from the CBD can cost substantially more – minus the hous
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/piara%20waters.jpg" alt="">
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This Piara Waters property at 7 Artisan Pass (pictured above) sold in February 2020 for $810,000.
The circa 2009 build comprises four bedrooms, two bathrooms and a double garage on a 713 square metre allotment.
Despite the glaringly obvious difference in the quality of improvements, it really does demonstrate the value for money in older suburbs where you can give properties a new life.
"If you spent $350,000 demolishing and rebuilding the Parkwood property, or less on a smaller scale renovation, then you could have a similar quality build on the same amount of land for cheaper and ten kilometres closer to the city," the valuation firm said.  
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The cost of renovating during the Coronavirus pandemic has seemingly remained stable (though it is hard to tell as prices fluctuate significantly from builder to builder), only increasing if time is a major factor or if products aren’t available from the usual suppliers.
"We have however heard of projects being quoted with extended completion times due to social distancing restrictions. This should ease up as restrictions are loosened over coming months."
Generally, the cost of a major kitchen renovation starts from circa $20,000 and can increase upwards of $50,000 depending on the size of the kitchen, whether you are removing walls or choosing high quality, unique fixtures and finishes. For bathrooms, major renovations start at circa $15,000 and can carry on upwards of $30,000 (again depending on several factors).
These costs can of course be lower if you are only completing minor works, spend wisely or assist in the works yourself.
As noted in previous editions, Houzz Australia’s 2016 Houzz and Home Report states that homeowners spent an average of $31,000 on major renovations of a large kitchen (more than 12 square metres) where all appliances and cabinetry were replaced and $21,840 for a small kitchen (less than 12 square metres).
The Houzz and Home Report also showed that the average spend on major bathroom renovations was $16,440 for a large bathroom (more than five square metres) and $14,770 for a small bathroom (less than five square metres) (Domain, 2017).
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"Entry prices for new dwellings come in at circa $190,000 plus for a completed product.If you add in the cost of a potential demolition ($15,000 to $25,000), then you’re looking at a minimum of $200,000 to $250,000 for a standard project style build.Consider renovating if your home is looking a little dated, but you love the area you live in.
"You can get a completely new look and fresh feel for easily under $100,000, or if you live in an older character home, finished renovations can look amazing and can be highly contested when put up on the market," the valuation firm said. 
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Suburbs such as Mount Hawthorn, Wembley, and Mount Lawley, all being within five kilometres of the CBD, have seen a flurry of action recently. 
Further out of central Perth, suburbs such as Canning Vale and Atwell are creeping towards the ripe renovation age of between 30 and 35 years old - this is the median dwelling age for renovations.
"Canning Vale was zoned rural under the Metropolitan Region Scheme until 1994, making the residential development’s age around 25 years old, so we should start to see an influx of renovation projects in these areas throughout the pandemic and beyond," the valuation firm said. 
The main areas ripe for renovation in the south- west tend to be older character homes in South Bunbury and East Bunbury, the report noted. 
A character home in need of renovation can be picked up for mid- $300,000s and once renovated, can sell for mid to high $500,000s, with higher values achievable after extensions or additions.
Other areas such as Busselton can see older homes renovated, usually as the front lot of a strata development however they are usually demolished to make way for modern units.
The cost of renovations and additions are such that it is often just as affordable to construct a project style home as is the case in many of the smaller country towns.
"In summary, there are many areas throughout Western Australia where renovation projects are a worthwhile exercise – however there are also areas that are ripe for gentrification, where the value add of a new dwelling easily outstrips the prospects of a renovation.
"Part of our service offering is the ability to offer before and after valuations based on your project plans. When weighing up where to spend your hard earned savings, it’s well worthwhile paying for some professional advice."
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Are renovation projects worthwhile in Perth? HTW renovation 

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Commercial suites in award-winning developer Stirling Capital’s brand new development, <a href="https://www.realestate.com.au/property/26-charles-st-south-perth-wa-6151" target="_blank">26 on Charles in South Perth</a>, have hit the market for sale or lease.
The boutique, eight-storey property consists of three floors of office space and a ground-level suite below luxury apartments in the rapidly-transforming Perth suburb.
The new suites are available in sizes spanning 113 sqm to 517 sqm, all with secure parking space and access to modern end of trip facilities.
Ten have balconies, allowing for panoramic views of the Swan River, Richardson Park, and the Perth city skyline, while floor-to-ceiling windows offer an abundance of natural light in an energy-efficient design.
On Charles Street, the development is a stone’s throw from the Perth Zoo, Richardson Park, Royal Perth Golf Club and access to the Kwinana Freeway. 
CBRE’s Ben Younger and Jake Wallman have been appointed to manage the campaign in conjunction with Brian Neo and Jack Bradshaw of LJ Hooker Commercial Perth.
Both agencies expect strong demand in Perth’s CBD fringe suburbs post COVID-19.
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South Perth’s latest boutique offices listed

While the global property market is facing some of its most strenuous times amidst the COVID-19 pandemic, the&nbsp;Perth real estate industry is experiencing quite the opposite. A surge in demand for apartments has seen some agents making up to <a href="https://www.perthnow.com.au/business/housing-market/apartment-sales-surging-in-the-wake-of-covid-19-c-1109361">$7 million in sales in a day</a>.&nbsp;

In addition to a robust residential market, Perth&#39;s office shortage has been a topic of discussion for years. Experts suggest an additional <a href="https://www.realcommercial.com.au/news/australia-to-face-massive-office-shortage">4.8 million square metres of commercial space is needed</a> in order to accommodate demand.

Thankfully, several new skyscrapers are in the pipeline &ndash; most of which are mixed-use, catering to both the growing demand for residential housing and office space.&nbsp;

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-06-25_at_2.09.22_pm.png" rel="gallery-all" title="Perth 1880. Credit: RAC WA/YouTube"><img alt="" class="image-article-full-width-580px" height="275" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-06-25_at_2.09.22_pm.png?itok=OIHLknB2" title="Perth 1880. Credit: RAC WA/YouTube" width="580" /></a>

<figcaption>Perth 1880. Credit: RAC WA/YouTube</figcaption>
</figure>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-06-25_at_2.11.57_pm.png" rel="gallery-all" title="Perth 1990. Credit: RAC WA/YouTube"><img alt="" class="image-article-full-width-580px" height="264" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-06-25_at_2.11.57_pm.png?itok=ys1qgdz3" title="Perth 1990. Credit: RAC WA/YouTube" width="580" /></a>

<figcaption>Perth 1990. Credit: RAC WA/YouTube</figcaption>
</figure>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-06-25_at_2.15.20_pm.png" rel="gallery-all" title="Future Perth vision. Credit: Urbis/Stephanie Keith"><img alt="" class="image-article-full-width-580px" height="323" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-06-25_at_2.15.20_pm.png?itok=NTvmuze7" title="Future Perth vision. Credit: Urbis/Stephanie Keith" width="580" /></a>

<figcaption>Future Perth vision. Credit: Urbis/Stephanie Keith</figcaption>
</figure>

Here are Perth&#39;s 9 future tallest skyscrapers:

<h2>1. ST ANDREWS HOTEL/ST ANDREWS PLACE, 222m</h2>

Architect: Cox Howlett + Bailey Woodland

Status: Approved but on hold&nbsp;

Building type: Hotel/Residential

<figure><img alt="" class="image-article_full_width_580px" height="907" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/07e0643db2ddae9dcf34272315298e25.jpg?itok=-uY7tiHu" title="Credit: Cox Howlett + Bailey Woodland" width="580" />
<figcaption>Credit: Cox Howlett + Bailey Woodland</figcaption>
</figure>

A beacon of glimmering gold has been on the cards for Perth&#39;s skyline for a few years now. The approved 222-metre tower has been approved; however, the City of Perth have granted the developer Fragrance Group a two-year extension. Once complete, the $100 million development would become the third tallest tower in Perth, after Central Park (249m) and Brookfield Place (244m). The development would see the existing 114-year-old church retained to be utilised as a 152-seat restaurant for hotel guests and the public. St Andrews is also likely to feature 485 hotel rooms and 60 serviced apartments.

[smartcode_project:default project_id=7864]

<h2>2. PERTH+, 207m</h2>

Architect: REX, HASSELL

Status: Invited competition 2016; first prize 2017; commenced Design Development 2018; completion expected 2023

Building type: Mixed-use

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/e489fdcc77b54444fed013990b2adcb6.jpg" rel="gallery-all" title="Credit: REX"><img alt="" class="image-article-full-width-580px" height="820" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/e489fdcc77b54444fed013990b2adcb6.jpg?itok=W1O2YkLR" title="Credit: REX" width="580" /></a>

<figcaption>Credit: REX</figcaption>
</figure>

Two mixed-use towers have been planned for a prominent waterfront site, &nbsp;reaching 19 and 54 storeys tall. The development will incorporate 15,000 square metres of commercial space, and 220 luxury apartments. A cantilevered &#39;plus&#39; shape acts as a striking visual point of difference, similar to Australia 108&#39;s starburst.&nbsp;

[smartcode_project:default project_id=8150]

[smartcode_project:default project_id=26734]

<h2>3. EQ WEST, 180m</h2>

Architect: Kerry Hill Architects

Status: Site works commenced

Building type: Mixed-use

<figure><img alt="" class="image-article_full_width_580px" height="464" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/kerry_hill_architects.jpg?itok=GlJsTJP5" title="Credit: Kerry Hill Architects" width="580" />

<figcaption>Credit: Kerry Hill Architects</figcaption>
</figure>

&nbsp;

Occupying a sought-after Elizabeth Quay site will be EQ West. The $385 million mixed-use development will comprise of two towers, which will feature 300 residential apartments and 170 short-stay properties. The towers will also include a hotel, restaurants and retail facilities. One of the greatest features of EQ West is the stunning high-rise art museum, which overlooks Swan River. Once complete, the museum will become available for public entry.

[smartcode_project:default project_id=8151]

<h2>4. KINGS SQUARE VI + VII, 162m, 144 m</h2>

Architect: Woods Bagot

Status: Approved

Building type: Mixed-use

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dd23e76d7e14729107d21916d4023376.jpg" rel="gallery-all" title="Credit: Woods Bagot"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/dd23e76d7e14729107d21916d4023376.jpg?itok=FehUkw-H" title="Credit: Woods Bagot" width="580" /></a>

<figcaption>Credit: Woods Bagot</figcaption>
</figure>

A design competition run by Seven Entertainment led to the design of two striking 42 and 48 storey towers, planned for a 3334 square metre site in central Perth. The site is owned by Seven Group and once complete, the development will offer 563 apartments with retail spaces available on the ground floor.&nbsp;

[smartcode_project:default project_id=9053]

<h2>5. CIVIC HEART, 143m</h2>

Architect: SS Chang Architects

Status: Approved

Building type: Mixed-use

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/civicheart.png" rel="gallery-all" title="Credit: SS Chang Architects"><img alt="" class="image-article-full-width-580px" height="630" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/civicheart.png?itok=CS7mZFsh" title="Credit: SS Chang Architects" width="580" /></a>

<figcaption>Credit: SS Chang Architects</figcaption>
</figure>

After several iterations, Civic Heart has now received approval by council for the construction of a $150 million multi-residential apartment building, with an end value of approximately $365 million. The development will integrate the heritage-listed former police station and post office which currently reside on the site, and will see the construction of two 39 and 22-storey residential towers take place shortly. The original design was going to include an on-site supermarket. However, this was dropped from the design, with a food and beverage outlet to replace the supermarket. &nbsp;More than 200 trees will also be planted to create a 700 square metre green wall.

[smartcode_project:default project_id=30048]

<h2>6. CAPITAL SQUARE, 140m</h2>

Architect: COX Architecture

Status: Approved

Building type: Mixed-use

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/capitalsq_hero.jpg" rel="gallery-all" title="Credit: COX Architecture"><img alt="" class="image-article-full-width-580px" height="373" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/capitalsq_hero.jpg?itok=YN9CW0gM" title="Credit: COX Architecture" width="580" /></a>

<figcaption>Credit: COX Architecture</figcaption>
</figure>

Plans for a $140 million tower has been conditionally approved for the Emu Brewery site. The site is bordered by the Mitchell Freeway (west), Mounts Bay Road (south), Spring Street (east) and Mount Street (north).&nbsp;The recently revised plans include the addition of an 18-storey tower and a 30-storey mixed-use tower, with a hotel and office space.&nbsp;

<blockquote>
&quot;The overarching vision is to create a contemporary living and working precinct that promotes strong visual and physical connections between the CBD, the foreshore and Kings Park.&quot;
</blockquote>

Cox Architecture

<h2>7. CHEVRON HQ, 133m&nbsp;</h2>

Architect: HASSELL

Status: Site works commenced

Building type: Office

<figure><a href="/developments/perth-wa-6000"><img alt="" class="image-article_full_width_580px" height="386" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/hassell_chevron.jpg?itok=2TchSMTi" title="Credit: HASSELL" width="580" /></a>

<figcaption>Credit: HASSELL</figcaption>
</figure>

Chevron HQ is a brand new 29-storey tower which is due for completion in 2023. Architecturally-designed by HASSELL, Chevron HQ includes 57,000 square metres of office and retail space and is likely to accommodate 3,000 residents upon completion. The tower will be located on the corner of Barrack Street and the Esplanade at Elizabeth Quay.

Chevron bought the 6800 square metre site in 2013 for $64 million.&nbsp;

[smartcode_project:default project_id=8337]

<h2>8. GOLD HOTEL, 130m</h2>

Architect: With_Architecture Studio

Status: Approved

Building type: Hotel

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-06-29_at_2.27.25_pm.png" rel="gallery-all" title="Credit: With_Architecture Studio"><img alt="" class="image-article-full-width-580px" height="919" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-06-29_at_2.27.25_pm.png?itok=2Ox1Qry9" title="Credit: With_Architecture Studio" width="580" /></a>

<figcaption>Credit: With_Architecture Studio</figcaption>
</figure>

A brand new business hotel designed by With_Architecture Studio, will offer 266 rooms with views overlooking Perth CBD. The Gold Hotel will house a wide range of state-of-the-art amenities including a spa, gymnasium and wellness centre, as well as a rooftop bar and terrace. Ground floor fine dining restaurants, an art gallery and cafe will be available for public use. Development approval for this project has been granted.

<h2>9. 561 WELLINGTON STREET, 125m</h2>

Architect: MJA

Status: Approved,&nbsp;Under construction

Building type: Hotel

<figure><a href="/new-apartments/perth-hub-600-wellington-street-perth"><img alt="" class="image-article_full_width_580px" height="392" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/wellington_street_.jpg?itok=bJUAuHUI" title="Credit: MJA" width="580" /></a>

<figcaption>Credit: MJA</figcaption>
</figure>

The new development planned for 553-561 Wellington Street is a $38 million student accommodation tower. Designed by MJA, the approved tower will include:

<ul>
	<li>176 single occupant studios</li>
	<li>47 two bedroom studios</li>
	<li>15 four bedroom studios with ensuites</li>
	<li>11 five bedroom studios</li>
	<li>6 six bedroom studios</li>
	<li>86 bicycle parking bays</li>
</ul>

The accommodation will be managed by The Student Housing Company.&nbsp;

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&nbsp;

Lead image:&nbsp;Future Perth vision. Credit: Urbis/Stephanie Keith

This article was first published on 29.06.2020. For any construction&nbsp;updates, please feel free to let us know in the comments below.&nbsp;

Olivia Round

Perth's 10 future tallest buildings

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A Claremont home has just been listed with a price guide of low-to-mid $4 million.
The Riley Road residence is situated in the river precinct and was completely restored and extended six year ago. 
It features six-bedrooms and five-bathroom house.
The home is known as Cooringa, and was built 1897.
It is situated on a 1025 square metre block.
It also features a cellar, pool, and fully equipped stand alone granny flat.
Tonia McNeilly, from Ray White Cottesloe, has the listing.
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Cooringa, Claremont home listed with $4 million plus hopes

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A Perth real estate agent, Daniel Gonzalez, founder of Realty Lane, who sells northern beachfront mansions, has been charged with stealing a rival's open home signs.
Police confirmed to the West Australian newspaper that the 41-year-old agent was charged with stealing five open home signs in Sorrento in February and in North Beach in May.
He faced court last week.
<a href="https://www.realtylane.com.au" target="_blank">Realty Lane</a> founder Daniel Gonzalez stands charged with stealing home open signs set up by Ben Rudgeley — who once worked for Gonzales, but is now at Noble Avenue Real Estate.
Gonzalez was recognised in industry awards for selling more property by value than any other agent in 2018, his second year in the industry, selling 119 homes worth $132 million.
He was recognised as WA’s new leading agent on ranking 31st in Australia and 1st for WA for 2019 in the top 100 REB agent list.
His company recently expanded the business into Dalkeith.
The agency initially focused on the upmarket northern coastal areas of Trigg, North Beach, Marmion and Karrinyup.
He had started his own estate agency in 2017 with no prior experience.
He is featured in a real estate training video on YouTube called “Rockstar to million dollar real estate agent in two years.”
In the video, he expresses a spiritual take on sales, referencing a “real estate mother earth” who “keeps an eye on everything.”
He once described himself as “a hippie in a real estate costume.”
He appeared in Perth Magistrate’s Court last week.
Police advised the five counts of stealing home open signs were in Sorrento on February 23 and in North Beach on May 9 this year.
He has not entered a plea.
The case was adjourned until next month for legal advice, including what the signs might be worth.
Prosecutors have amended the value at $200 each initially but that was downsized to $20 each.
The police are looking for recompense for two of the signs — as the other three had been recovered.
 
 
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Daniel Gonzalez, Top 100 REB Perth estate agent charged with stealing competitor's open home sign

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A $215,000 Perth apartment has fallen $85,000 in price since its 2007 peak sale price.
Located at 4E/811 Hay Street, the small Paragon unit features a single bedroom, single bathroom, and living area.
It has just 41 square metre of internal floorspace.
The apartment sold for $215,000 earlier this year.
It had previously sold in 2012 for $287,000.
Its peak sale price was in 2007 at $300,000.
The latest sale is comparable to the unit's value in 2003, when it was secured for $210,000.
There was a $206,000 sale in 2000 when sold by developers Westpoint and Paragon. 
Allen Ang and Kennie Chung, from Realestate 88 Inner City, had the 2020 listing.
It was leased for $300 per week until September, so reflected a seven per cent yield.
Its asking rental was $390 in 2014.
  
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One bedroom Paragon, Perth apartment falls $85,000 from its peak 2007 price

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EXPERT OBSERVER
The start of the Perth dwelling market recovery comes at an unfortunate time. In early 2020, the Perth dwelling market had four consecutive months of dwelling value increases, which is the longest stretch of capital growth since 2014.
The Perth dwelling market has a long road to recovery. By the end of April, the house market in Perth was -19.1% below its peak value at June 2014. Unit values have taken a larger hit, down -26.9% below the record high at July 2013.
Prior to COVID-19, most indicators for Western Australia were moving into an upswing. Unemployment had fallen from 6.9% to 5.2%, jobs growth was trending higher, population growth had bounced back to the highest level since 2014, housing supply was contained, and state final demand crept above the decade average.
But instead of momentum continuing from the trend seen at the start of the year, the onset of COVID-19 places it at the cusp of another downswing.
According to the 28-day rolling change in the daily hedonic index, Perth dwelling values have started to fall again. However, value falls have been mild at -0.2%. So far, Melbourne has seen the largest decline in property values in the wake of COVID-19, but even in Melbourne the change is less than 1%.
Weekly payroll data from the ABS, which provides an early preview of labour force conditions, shows job losses across WA have been slightly less severe than that across the rest of the country. The decline in payroll jobs across the state was 5.8% between the 14th of March and 2nd of May, as opposed to 7.3% Australia wide.
Perth has less exposure to industry sectors that have been heavily impacted by COVID-19, with 8.6% of the local workforce employed with the accommodation and food services and arts and recreation services sectors, compared with 9.1% nationally.
Despite heighted economic uncertainty, consumer sentiment levels have been improving. This is in line with a flattening of the curve and relaxation in social distancing policies, especially those specific to housing, new listing numbers are trending higher from their record lows.
Importantly, total listing numbers haven’t trended higher and are at the lowest level in ten years for this time of the year.
The trend towards a rise in new listings and consistently low total listings implies newly listed stock is being absorbed quickly by the market. As of late May, total listings were down 34.7% on where they were at the equivalent period in 2019.
Total listings across Perth counted in the 28 days to May 24th were just 13,962. Though this is a continued headwind to the real estate sector, it may be preserving stability in dwelling values.
What was once a drag on property could be a source of market stability
The strong link between mining and prosperity across WA created boom and bust conditions between 2011 and 2019. This extended to the property market. As mining investment declined significantly following a steel glut in China, job losses and resident departures across the state have left values in a downswing for years.
According to industry reporting, 2020 was the year mining investment would move through a trough, creating more jobs, and subsequent housing demand across WA. In fact, we were already seeing improving labour market and demographic trends through late 2019 and early 2020.
The past few weeks have seen an increasingly optimistic outlook for the mining sector because of a recovery in the Chinese economy. Some high frequency indicators such as coal consumption, traffic congestion and home sales suggest economic activity across China is at 90% of where it was pre-COVID-19.
Unlike recent tensions over trade in beef and barley, China is actually working to reduce barriers to iron ore imports, which is a major source of revenue for WA mining. The reason for rising iron ore demand is that Chinese steel producers expect a rise in government stimulus and infrastructure to spur production (which uses iron ore as an input).
This has contributed to a relatively strong rise in the value of iron ore and plans from some of Australia’s largest miners to boost production. Even without the relatively strong position of mining export commodities, work on mine sites may have been buoyed by long-term contracts and the relatively high liquidity of mining companies.
The mining sector has not been completely untouched by COVID-19. Some operations have been suspended, or capacity has been reduced in an effort to reduce the threat of infection at work sites. This is reflected in mining sector payroll job losses across WA, of 6.4% between the 14th of March and the 2nd of May.
However, mining companies remain optimistic. BHP signalled steel production over 2020 may even be slightly higher than in 2019 if a second outbreak of COVID-19 could be avoided.
Renewed vitality in the mining sector, and the subsequent boost to economic activity, is likely to provide some insulation in demand for the Perth property market. This would make the impending downturn less severe than it may otherwise have been.
Another key factor that should support housing demand across Perth is the sheer affordability of housing. At the end of April 2020, the median value of a house was recorded at just over $465,000 which was the lowest of any capital city.
The blend of affordable housing options and the expectation for more resilient economic conditions is a good recipe for Perth’s housing market to outperform.
ELIZA OWEN is the Head of Research Australia for CoreLogic
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