Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

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Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Perth

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EG, an Australian real estate fund manager, announced its recent acquisition of a Perth office building for $79.05 million. 
The twelve-level, A-grade office accommodation at 2 Mill Street provides modern amenities in the core business precinct of Perth CBD, a short 5-minute walk from Elizabeth Quay. 
The asset has been acquired with a WALE of 1.8 years.  
The acquisition is the second property secured for the $800 million Australian Core Enhanced Fund (ACE), an open-ended, diversified fund targeting office, retail and industrial assets. 
“We are pleased to see our Core Enhanced Fund expanding and diversifying through the acquisition of high-quality assets,” said Aakriti Chona, Senior Manager, EG. 
“2 Mill Street delivers quality office space with a strong tenant profile. This asset is perfectly positioned to benefit via a targeted refurbishment and leasing strategy as Perth experiences improving macroeconomic conditions. ” said Dan Farley, Fund Manager, ACE.
EG ACE will be opened to further investment until June 2020, targeting up to an additional $500m of equity commitments. 
The transaction was brokered on-market by Todd Schaffer of Knight Frank in conjunction with CBRE.  
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EG purchase 12 storey Perth office building for $79 million 

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Global supply chain solutions provider, CHEP, has been announced as the latest tenant to join Perth's Roe Highway Logistics Park.
The 56-hectare industrial park launched in February is located adjacent to the State Government’s Kenwick Rail Freight Facility, offering Category RAV 7 Network accessibility from both Roe and Tonkin Highways.
CHEP will occupy a four-hectare lot, with a custom-designed 9,000 square metre facility, set for completion mid-next year. 
Linc Property’s Judd Dyer said securing CHEP, a subsidiary of ASX listed Brambles (BXB), as a major tenant reflected the growing demand for new premium industrial estates in central locations.
Phil Darbyshire, Regional Operations Manager at CHEP Australia, said that relocating to the Roe Highway Logistics Park will allow CHEP to centralise its Western Australian operations. 
In addition to amenity, Roe Highway Logistics Park offers a range of sustainability initiatives including storm water management, solar energy and on-site treatment and recycling of waste water.
Over 50% of the site is already committed, the final stage of civil and landscaping works for Roe Highway Logistics Park anticipated to be complete by the end of the year.
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Other confirmed tenants and businesses include Northline, Brady, K Trans WA, Expro, BP, Silk Contract Logistics, JOEST, Dynapumps and Fuwa K Hitch.
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CHEP is the latest tenant at Perth's Roe Highway Logistics Park

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Most of Australia’s capital cities will benefit from the interest rate cuts and loosening of credit restrictions, even Perth which has been in a long term slump, according to Christopher’s Housing Boom and Bust Report for 2020, released today by SQM Research.
In every scenario barring the worst case, Scenario 4, a doomsday scenario, Perth is expected to see price growth.
<img src="https://gallery.mailchimp.com/9badbd870addb4af72206c2eb/images/4df1a5ab-58ab-48eb-be7c-da10730ccd12.png">
As a result of the improved international outlook and an existing recovering in mining investment, the city of Perth will finally record price rises next year after a prolonged housing downturn. The forecast is for Perth dwelling prices to rise between 3% to 6%.
In the base case forecasts, what SQM view as the most likely scenario, there are no changes in interest rates and no intervention by the Australian Prudential Regulation Authority (APRA).
Louis Christopher, when referencing a long term perspective, "better value can definitely found in other markets that aren't Sydney and Melbourne such as Perth and Brisbane."
SQM Research also anticipates an ongoing recovery in the Brisbane and Perth rental markets in 2020, he noted.
<a href="/expert-insights/buying/sydney-house-prices-could-jump-14-per-cent-in-2020-sqm-research">Sydney</a> and <a href="/expert-insights/buying/melbourne-house-prices-tipped-to-rise-by-up-to-15-per-cent-sqm-research">Melbourne</a> look set for the largest recovery, with Hobart and Canberra next up, followed by <a href="/expert-insights/buying/perth-real-estate-finally-set-for-price-growth-in-2020-sqm-research">Perth</a> and <a href="/expert-insights/buying/brisbane-housing-market-will-see-growth-in-2020-sqm-research">Brisbane</a> while Adelaide and <a href="/expert-insights/buying/darwin-the-only-city-forecast-for-falling-real-estate-prices-in-2020-sqm-research">Darwin</a> look set for minimal growth, or a loss.
Read the <a href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=944878d0b0&amp;e=0aab96dc54" target="_blank" data-auth="NotApplicable">Christopher’s Housing Boom and Bust Report</a> here.
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Perth real estate finally set for price growth in 2020: SQM Research

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Over the June 2019 quarter, resales of residential properties in Perth created $834.9 million worth of resale profits which accounted for 5.1% of resale profits nationally, according to the latest data from CoreLogic's Pain &amp; Gain Report.
Their findings showed, Perth also created $166.5 million in loss-making resales accounting for 23.0% of all losses nationally.
<img src="https://www.urban.com.au/images/2019/10/29/Resales%20PRTH%201.JPG" alt="">
Peppermint Grove had no resales at a loss over the quarter, while Nedlands was the only other region with less than a quarter of resales at a loss.
The highest share of resale losses were in Perth, Belmont and Bayswater.
Greater Perth has continued to see values fall over the quarter and subsequently resale losses have also risen, a trend likely to continue, CoreLogic said.
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Quarter of Australia's loss-making property resales occurred in Perth: CoreLogic Pain & Gain Report

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Affordability in Perth’s residential sales market has improved during the September 2019 quarter, with data from reiwa.com showing that house and unit prices have softened marginally.
REIWA President, Damian Collins, said the current property market climate provides an excellent opportunity for buyers and investors to secure their next home or investment property.
“While the worst of the market downturn appears to be behind us, the results of the September 2019 quarter reveal conditions are favourable for buyers and investors,” Collins said.
The data shows Perth’s median house price should settle at $480,000, which is 1.5% lower than the June 2019 quarter and 4% lower than last year’s September quarter.
“The unit market has shown a similar story with the median expected to settle at $379,000, which is 1.6% lower than the June quarter and 6.4% lower than a year ago,” Collins added.
While the overall market experienced a decline in median sale price during the quarter, there were 91 suburbs that bucked this trend to show an increase and 54 suburbs that saw no change in median.
The top performing suburbs for median house price growth were Mindarie, Karrinyup, Huntingdale, Waikiki and Floreat.
The data also showed, for the second consecutive quarter, there has been a decline in overall listings for sale.
It showed there were only 13,402 properties for sale in Perth at the end of the September 2019 quarter.
“Across the metro area, stock levels declined 10% during the quarter and 13% since the year prior,” Collins said.
“Although there were fewer sales this quarter, it’s pleasing that listing stock continues to be absorbed and this should lead to increases in selling prices in the medium term.”
There were fewer sales in the September 2019 quarter with reiwa.com data showing 7,050 sales which was 4% lower than the June 2019 quarter and 16% lower than the same time last year.
The suburbs to record the biggest improvement in house sales activity were Floreat, Wellard, Success, Atwell and Craigie.
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wdavis-8cCN98p7xp

September quarter reveals improvement in affordability for Perth

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Five individual retail strata lots forming the ground floor of Perth’s The Towers at Elizabeth Quay has been offered for sale via expressions of interest.
Situated at 11 Barrack Street, the Towers at Elizabeth Quay were completed in July 2019 with the retail tenancies (Lots 276, 277, 278, 279 and 280) due to open in 2020.
The sites are being marketed and sold by Ray White Commercial (WA) Property Advisors Brett Wilkins and Phil Zoiti.
<img src="https://f.datasrvr.com/f1/219/92295/EQ_2.JPG">
Wilkins said the five retail strata lots offered for sale separately or as a portfolio would be complemented by a further $2 billion investment at Elizabeth Quay, including the new Australian Chevron HQ, the two towers at EQ West which recently commenced construction, and the two towers proposed by Brookfield.
“The five tenancies comprise The Towers Sales Office, Six Senses, Convenience Store, Argyle Bar and Lucky Necko,” Wilkins said. 
“Four of the tenancies offered for sale have new 10-year leases plus options, and every high net worth buyer wanting a trophy investment really need to look no further.”
Zoiti said: “The Towers feature 275 luxury apartments, with the five retail tenancies on the ground floor, alongside a second tower with the Ritz-Carlton Hotel with 205 luxury rooms and 104 luxury apartments above.”
The expressions of interest campaign closes on Wednesday 13 November 2019.
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Ground floor of Perth's The Towers at Elizabeth Quay offered to market

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In the 12 months to July 2019 there were over 21,000 house sales in the greater Perth region, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the country to dissect where to find the best returns in residential markets. 
REIWA data shows a median sale price of $485,000, some 2% lower than the previous quarter and 3.4% lower than the June quarter 2018.
There were about 5,000 units sold in the same period with a median sale price of $385,000 – a 1% reduction compared to the March 2019 quarter and 5.5% lower than the June quarter 2018.
Nearly 5,000 vacant lots were sold in the year to July 2019 with the supply of land continuing to outweigh demand.
A recent article from the REIWA stated that: “The number of properties available for sale and rent have dropped to the lowest levels since late 2014, with only 13,831 properties listed for sale and 6,599 properties listed for rent on reiwa.com in August.”
"This isn’t too surprising since the June quarter generally sees the lowest sales and listing volumes due to the winter weather," the valuation firm commented. 
The HTW report notes Perth’s rental market has continued its resilience against a subdued sales market, with the median weekly rental holding at $350 for the June quarter - a median of $360 for houses and $330 for units.
It took an average of 43 days to lease a property in the greater Perth region for the June quarter 2019, reducing by two days from the previous figure of 45 days.
As the days to lease diminishes so does the negative house price growth. CoreLogic’s latest home value index shows dwelling values in Perth declined for another month to 0.5% in August, yet the rate of decline is slowing, which is a positive indication that prices in Perth may be approaching the bottom.
The new Housing Affordability Report from the Real Estate Institute of Australia has indicated that rental affordability in Western Australia improved in the June quarter as the proportion of family income required to meet the median rent has marginally decreased by 0.1% to 16.4%, however this is still an increase of 0.1% compared to the same time in 2018.
"So how does the current market fare for investors? The average yield for houses in greater Perth is 3.8%, generated from the $485,000 median house price and a $360 median weekly rental. Units prove to be a more lucrative asset, producing an average yield of 4.5% from the $385,000 median and $330 median weekly rental," the valuation firm said. 
"As always, these figures shift significantly depending on the property’s location." 
As an example, some of the lowest yields in Perth come from suburbs within the prestige market. Applecross, Cottesloe, Dalkeith, Mount Pleasant, Peppermint Grove, Shelley and Swanbourne all have yields ranging from just 1.8% to 2%.
The median house prices in these suburbs range from $965,000 up to $3.575 million.
The highest yields come from suburbs within the lower price band. Armadale, Butler, Camillo, Chidlow, Coodanup, Coogee, Cooloongup, Kwinana, Leda, Mandurah, Orelia, Parmelia, Stratton and Yangebup all hold the highest current yields for the greater Perth region.
"This suggests that on yield potential alone, some of the best suburbs to invest in are within the cities of Armadale, Kwinana, Mandurah and Rockingham, all being local authorities in traditional mortgage belt areas," the valuation firm stated. 
Big price reductions are being seen in greenfield estates on the outskirts of Perth, the report noted. 
Established dwellings are experiencing long selling periods as the competitive financing options of house and land packages gives little encouragement to purchase anything near new, as such vendors are discounting multiple times in order to meet the market. 
This means that affordability in these areas keeps improving. Land estates in Baldivis, Byford and Ellenbrook have been hit hard.
'The median house price in Ellenbrook has recoiled, receding by more than 20% since 2015. Byford’s median has fallen by 14.4% and Baldivis’s has dropped 15%.
One factor contributing somewhat to falling house prices is the reduction in average lot sizes.
The average lot size in Perth decreased from 580 square metres in  2010 to 375 square metres currently and the first micro-lots have just been finished in Ellenbrook with a total area of 80 square metres.
Over the past decade, new zoning has created potential for smaller lots within land estates and has allowed for a flurry of subdivision in established suburbs all over Perth.
The median house price in Baldivis for the June quarter was $390,000 with a weekly house rental of $350 showing a 4.7% yield.
The median unit price was $189,000 with a weekly unit rental of $265 showing a 7.3% yield.
"Strong yields can be found for investors in Baldivis as established dwellings can be purchased for affordable prices, however caution must be used as we expect market values to continue softening in the coming months, so always engage a property professional before making a purchase decision. The cost of an up front valuation is a pittance compared to the risks it can identify," the valuation firm commented. 
 <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/2019/10/21/baldivis%20.jpg" alt="">
This property shown above was purchased in July 2019 for $308,000.
Built in 2012, the house at <a href="https://www.realestate.com.au/sold/property-house-wa-baldivis-130642178" target="_blank">12 Jane Turn, Baldivis</a> comprises four bedrooms, two bathrooms and a double garage on a 521 square metre allotment.
It was leased in November 2018 for $350 per week generating a gross yield of 5.9%.
 <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/2019/10/21/ellenbrook.jpg" alt="">
The property shown above  was purchased in August 2019 for $370,000.
Built in 2016, the house at <a href="https://www.realestate.com.au/sold/property-house-wa-ellenbrook-131046762" target="_blank">52 Jennapulin Crescent, Ellenbrook</a> comprises three bedrooms, two bathrooms and a double garage on a 419 square metre allotment.
It was leased in May 2018 for $350 per week. The rental value may have decreased since this time, however it shows a gross yield of 4.9%.
<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/2019/10/21/ellenbrook%20unit.jpg" alt=""> 
This first-floor unit shown above was purchased in July 2019 for $200,000.
Built in 2014, the unit at <a href="https://www.realestate.com.au/sold/property-apartment-wa-ellenbrook-130501974" target="_blank">18/1 Urban Lane Ellenbrook</a> comprises two bedrooms, two bathrooms and one car space with 110 square metres of floor area.
It was leased in April 2018 for $275 per week providing a gross yield of 7.2%.
<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/2019/10/21/byford.jpg" alt=""> 
The property shown above was purchased in August 2019 for $420,000.
Built in 2015, the house at<a href="https://www.realestate.com.au/sold/property-house-wa-byford-131436294" target="_blank"> 50 Tourmaline Boulevard, Byford </a>comprises four bedrooms, two bathrooms and a double garage on 480 square metres of land.
It was leased in December 2018 for $400 per week, reflecting a gross yield of 5%.
"For investors looking to add apartments to their portfolio, older units in good locations can prove to be quite attractive on a gross return basis whilst appearing attractive from a capital growth point of view as well," the valuation firm added. 
 <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/2019/10/21/south%20perth.jpg" alt="">
The property shown above sold for $270,000 in July 2018.
Built in 2002, the apartment at <a href="https://www.realestate.com.au/sold/property-unit-wa-south+perth-128593930" target="_blank">14/134 Mill Point Road, South Perth </a>comprises one bedroom, one bathroom and one car bay with a floor area of 69 square metres.
An identical unit in the complex was leased in April 2019 for $300 per week showing a gross yield of 5.7%.
South Perth’s unit median settled at $567,750 for the June quarter 2019, increasing 0.1% since the March quarter.
The report notes unit median in Mosman Park settled at $425,000 for the June quarter 2019, increasing 11.4% since the March quarter 2019 and 18.9% year-on-year. 
Achieving high yielding assets could be seen as important in the current market whilst we await the return to capital growth.
The strong rental market in Perth would definitely be keeping investors’ heads afloat as the gap between property value and gross rental return increases in some areas.
Property investment is typically seen as a medium to long term venture as high costs are associated with both the purchasing and selling of dwellings, so depending on the investor’s profile, short term yields can be of little importance when buying in a secure location.
At the current stage of Perth’s market cycle, purchasing in a good location with growth potential could end up being a fruitful venture.
Investors who purchased in the years leading up to the resources boom (2002 to 2006) may be looking towards reversion in the coming years as the completion of some 20-year mortgages may align with the peak of the next market cycle.
The median house price has increased from $195,000 in 2002 to $485,000 currently, an increase of approximately 250%.
One popular asset that can generate high gross rental returns is student accommodation.
Five to six and even seven-bedroom dwellings can be bought at fairly reasonable prices and the rooms leased individually for anywhere from $50 to $250 per week.
Even though the returns are enticing, you do have to consider that there could be higher running costs such as management and maintenance, along with vacancy rates over the holiday period. Utilities are often included in the rent so the expenses can fluctuate quite significantly.
<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/2019/10/21/bentley.jpg" alt="">
The property shown in above was purchased in May 2019 for $450,000. 
Situated less than 200 metres from Curtin University, the townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-wa-bentley-130142270" target="_blank">11E Beverage Street, Bentley</a> built in 2000.
It comprises six bedrooms, three bathrooms and two car bays on a 247 square metre allotment.
One of the rooms is currently being advertised at $140 per week. At this price, the property has a potential gross yield of 9.7%.
"The highest yields in Western Australia are found in the regional centres close to mining resources activity," the valuation firm stated.
Kalgoorlie-Boulder’s median house price settled at $300,000 for the June quarter.
With an average house rental of $360, the average yield is 6.2%.
The unit median is currently $192,500 with a median rental price of $280 per week showing a yield of 7.5%.
It takes an average of 43 days to lease a property in Kalgoorlie-Boulder.
<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/2019/10/21/kalgoorlie.jpg" alt="">
The property shown in above sold for $102,000 in July 2019.
Built in 2000, the unit at <a href="https://www.realestate.com.au/sold/property-unit-wa-kalgoorlie-131524586" target="_blank">8/237 Dugan Street, Kalgoorlie</a> comprises one bedroom, one bathroom and one car space on a 201 square metre allotment.
It is currently being advertised for rent at $280 per week creating a potential gross yield of 14.3%.
"The wider Port Hedland area’s median house price settled at $225,000 for the June quarter. With an average house rental of $410 the average yield is 9.5%," the report added. 
The unit median is currently $171,500 with a median rental price of $320 per week showing a yield of 9.7%.
It took an average of 51 days to lease a property in Hedland during the June quarter 2019, although recent agent feedback indicates demand has increased in the interim.
<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/2019/10/21/south%20hedland.jpg" alt=""> 
This property shown above sold for $179,000 in August 2019.
Built in 1970, the house at <a href="https://www.realestate.com.au/property-house-wa-south+hedland-427539514" target="_blank">11B Smith Street, South Hedland</a> comprises three bedrooms, one bathroom and two carport spaces on a 477 square metre allotment.
It was leased for $375 a week in September 2018, generating a potential yield of 10.9%.
It is currently on the market for $450 a week. 
"Considering some of the rental returns we have spoken about, property investment can be a good alternative to set and forget ventures such as government bonds which achieve returns of between 1% and 4%. Many investors also enjoy the tangible aspect of owning property and it is a good way to diversify a portfolio.
"Depending on your goal it is good to strike the right balance between gross rental income and capital growth. Securing a good location close to essential amenities should always generate good returns in investments with extended holding periods.As with any investment, the risk of each property should be assessed prior to making any decision, which is where your local property valuer’s knowledge can prove invaluable."
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Perth’s rental market continues its resilience against a subdued sales market: HTW residential

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Most first home buyers in Perth fall into the sub-$500,000 price bracket, bound within Keystart’s $480,000 price cap and their low deposit home loan income thresholds, according to a recent Herron Todd White (HTW) residential report. 
The report notes from 1 July 2019, these income limits were increased by $15,000 for singles and couples to $105,000 and $130,000 respectively, and increased by $20,000 for families to $155,000 for the metropolitan region.
These increases came “in support of the State Government’s policy to assist more Western Australians into home ownership. By expanding our eligibility criteria, the government estimates that around 11,000 additional households will qualify to apply for Keystart finance.” These increases are temporary and will revert back to the old income limits from 1 January 2020 (Keystart, 2019).
"Mixed in with other factors touched on in previous editions, these increases are contributing to Perth’s current affordability and it is certainly a great time for a first home buyer to get their foot in the door," the valuation firm said. 
The majority of first home buyers are currently purchasing in suburbs on Perth’s urban fringe, including land estates in Baldivis, Wellard, Byford, Caversham, Dayton, Brabham, Aveley, Ellenbrook, Banksia Grove, Alkimos, Eglinton, Yanchep and more.
The median house price for these suburbs ranges from $355,000 (Ellenbrook) to $445,000 (Aveley).
The report suggests a significant proportion of the first home buyer demographic has been choosing to build new dwellings instead of purchasing established property due to the competitive cost of building through house and land packages and the more flexible financing options on offer.
Home builder incentives are rampant at the moment, sweetening the deal on top of the First Home Owner Grant.
In terms of what a typical home looks like for a first home buyer, most properties in these areas are fairly house heavy, meaning the ratio of land value to dwelling value is quite low.
A recent construction valuation on a 360 square metre lot in Baldivis was valued at $338,000 with the estimated proportion of land to improvements at $155,500 and $182,000 respectively – the land only equating to about 85 per cent of the dwelling value.
In comparison, a recent construction valuation on a 719 square metre lot in Leeming came in at $925,000 with the estimated proportion of land to improvements at $525,000 and $400,000 respectively. Here the land is worth 131% of the improvements - a significant difference in ratio compared to Baldivis.
"Of course, that was just one example but house heavy properties are typical for land estates in Perth’s outer metro region," the valuation firm commented.
Most first home buyers in these areas are either couples or young families and the prospect of building a brand new home to their own specification instead of buying something lived in is often at the forefront of their minds.
"This is limiting, as the more you spend on the dwelling, the less budget you can put aside for location and land size.
"Location can be a non-issue for some people who work fly-in-fly-out (FIFO), as the daily commute is not front of mind and for this reason we see a lot of young FIFO workers living in new estates 20 kilometres or more from the CBD," the valuation firm said. 
First home buyers working close to the city with a lifestyle driven towards social events, friends and entertainment look for central locations.
There is an abundance of opportunity in the form of unit developments in suburbs such as Maylands, Mount Lawley, Belmont, Bentley and Queens Park, or medium to high rise apartments in East Perth and Rivervale and often these can be a more affordable option than a cottage block 20 kilometres from the CBD.
This unit at<a href="https://www.realestate.com.au/sold/property-apartment-wa-maylands-130546898" target="_blank"> 7/83 Caledonian Avenue</a> in Maylands (pictured below) sold for $275,000 in June 2019.
It comprises one bedroom, one bathroom and one car space with 83 square metres of floor area.
<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/2019/9/23/maylands%20.jpg" alt="">
"So how about the upgrader market? We will categorise this as mostly established families who have added or are adding a new family member. These home buyers are often in need of more space and a home closer to work with the amenities that families want to take advantage of," the valuation firm said. 
This includes accessibility to public transport, child care, general practitioners, shopping and entertainment.
Access to major roadways is also helpful for a shorter commute to work and a lower fuel expense.
A major decision factor for parents is where their children will go to primary and high school.
Being within close proximity to good schooling and other amenities is a significant advantage in our time- poor society as saving 20 minutes of driving time each day adds to precious time with the children or extra time to run the household.
Two popular school zones within 13 kilometres of the CBD are Rossmoyne Senior High School and Willetton Senior High School.
These top performing schools placed eighth and 15th respectively in Western Australia for 2018, boasting median ATAR’s of 89.45 and 87.8.
Surrounding these schools is a number of established suburbs including Rossmoyne, Bull Creek, Shelley, Riverton and Willetton.
This area on the left half of the map above is very popular in the upgrader market as it boasts quick access to major roads such as Leech Highway, High Road, Kwinana Freeway and South Street. These roadways accommodate great public transport routes and facilities with Murdoch Station and Bull Creek Station nearby.
There is also plenty of shopping around with neighbourhood shopping at Stockland Bull Creek Shopping Centre, Southlands Boulevarde and Stockland Riverton and regional shopping at Garden City Booragoon and Westfield Carousel, both within a six kilometre radius.
The redeveloping Murdoch Health and Knowledge Precinct is close by, as well as a number of child care and general practitioners.
Within this area are many more schools including All Saints College and eight primary schools. Murdoch University and Curtin University are both within five kilometres.
Beyond the amenities, this area is also known to be very safe so you can see why it is revered as a great place to raise children from birth through to university-age.
These suburbs have median house prices ranging between $650,500 (Riverton) and $1.05 million (Rossmoyne) and would suit a variety of different residents.
This two-storey property at <a href="https://www.realestate.com.au/sold/property-house-wa-willetton-130226610" target="_blank">9 Chancery Crescent, Willetton</a> (pictured below) sold for $778,000 in May 2019.
It was built in 1979 and comprises five bedrooms, two bathrooms and a pool on a 698 square metre allotment.
<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/2019/9/23/willetton.jpg" alt="">
On the right half of the map above is the Lynwood Senior High School catchment area. 
Lynwood SHS has improved significantly over the past decade, now having some of the highest attendance rates of Western Australia’s public high schools. In 2018, Lynwood SHS received the Department of Education’s Western Australian Secondary School of the Year award and achieved a median ATAR of 80.55.
Suburbs in this area include Parkwood, Lynwood, Ferndale and Langford.
The median house price in these suburbs ranges from $328,344 (Langford) to $436,500 (Parkwood).
Note the significant difference in median house price for the Lynwood SHS zone compared to that of Willetton SHS and Rossmoyne SHS. There are a few reasons for this.
Firstly, it is slightly further away - neither Leach Highway nor Roe Highway traverse any of these suburbs, lengthening travel time to the amenities mentioned above as well as the CBD.
Secondly, the expansive waters of the Canning River end before Parkwood and Ferndale where it turns into wetlands so there are no significant views to help increase the median house price in these suburbs.
Thirdly this area has a lower socio-economic profile. This being said, Parkwood at a median of $436,500 represents a great alternative to neighbouring Willetton ($686,000) in terms of value for money.
This property at <a href="https://www.realestate.com.au/sold/property-house-wa-parkwood-130198602" target="_blank">3 Newsam Close, Parkwood </a>(pictured below) sold for $463,000 in March 2019.
It comprises four bedrooms, two bathrooms and a double garage on a 682 square metre allotment.
<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/2019/9/23/parkwood.jpg" alt="">
Churchlands is an affluent suburb located just seven kilometres west of the CBD. Surrounded by Floreat, Woodlands, Doubleview, Wembley Downs and Wembley, this catchment includes Churchlands Senior High School as well as private Hale School and Newman College.
On top of this there are six primary schools within a two-kilometre radius of Churchlands and the coast is only three kilometres to the west.
The median house price in these suburbs ranges from $900,000 (Woodlands) to $1.35 million in Floreat and Churchlands. Part of the big price tag in these suburbs relates to their proximity to both the CBD and coastline. There are also plenty of top quality cafés in this catchment and no real lack of other amenities either.
<a href="https://www.realestate.com.au/sold/property-house-wa-churchlands-130959650" target="_blank">This property at 9 Appleberry Street, Churchlands</a> (pictured below) was part of a small land development in 2012.
It sold in June 2019 for $1.415 million.
The circa 2014 build comprises four bedrooms and three bathrooms over two storeys on a 340 square metre allotment.
<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/2019/9/23/churchlands.jpg" alt="">
In terms of prestige home buyers, they are generally looking for properties that are either close to the coast or close to the river, paying large premiums for their chosen suburb’s reputation and views which come with the location.
"We all analyse a large combination of characteristics in the search for our perfect new home no matter what we’re looking for.
"The main attributes that we have covered (proximity to shops, schools, transport, child care, the CBD, coast or river etc) relate directly to any land parcel’s underlying value.
"This includes what can be done with the site, its shape, contour and level etc. The fundamentals will always be king – location, location, location!" the valuation firm added. 
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First home buyers in Perth active in urban fringe: HTW residential 

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To date in 2019, the Perth office leasing market has seen both rental incentives and rental rates stabilise, according to the latest report from Herron Todd White.
The most recent Property Council of Australia (PCA) Office Market Report indicates the total vacancy rate for office space in the Perth CBD dropped marginally from 18.5% to 18.4% in the six months to July 2019.
The reduction is attributed to positive demand for premium and B-grade buildings.
The property valuation firm found, whilst it's an encouraging sign, Perth’s CBD has the highest vacancy rate of all capital cities in Australia.
There are no significant building projects in the pipeline until 2020 and the revitalisation of the CBD landscape, with major infrastructure projects such as Elizabeth Quay continuing to move ahead.
The report noted, "incentives for quality buildings in Perth’s core CBD have even experienced some downward pressure with early signs of growth in the space needs of particular tenants."
"Property owners continue to be proactive in trying to entice existing tenants to recommit and in order to attract new tenants."
"Accordingly, incentives are still being offered in the market place (typically between 25 and 50%). Furthermore, landlords are providing their existing and prospective tenants with bespoke floor plates, flexible work spaces, meeting hubs, refurbished foyers, some featuring concierge services, gymnasiums or wellness centres with some more innovative landlords looking at child care or child minding facilities within their buildings, in addition to the obligatory end of trip facilities, bike storage rooms and, in some cases, bike repair shops," the report stated.
In terms of capital transactions, demand for office property in the Perth CBD has been felt predominantly from institutions and foreign (south-east Asian) buyers seeking counter-cyclical acquisitions of secondary assets with good prospects for re-positioning.
The West Perth office market has not fared as well as the CBD for the six months to July 2019 as the total vacancy rate rose from 14.8% to 16.9%.
Similar to the Perth CBD however, vacancy rates for A-grade space actually tightened during this period however this was off-set by a substantial increase in vacancies for lower grade premises.
The authors said, "the total vacancy rate for office space in the Perth CBD dropped marginally from 18.5% to 18.4% in the six months to July 2019."
"The lack of quality office stock with medium to long term WALEs combined with subdued economic conditions has affected transaction activity. We expect these trends to continue in the short term," they concluded.
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Perth's rental office market evens out: HTW commercial

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Mosman Park, in Perth's west, has seen radical growth in its real estate market over the years - One of Perth's major industrial centres up until 1970's, in 2009 the suburb registered the second highest average value for private sector houses in all of Australia.
The suburb sits on a peninsula at the mouth of the Swan river, with the Indian ocean lying to the west.
Mosman beach runs almost 600m along the coast.
Freestanding houses are the most common form of residence in the suburb, making up just under 60% of occupied dwellings. 
Mosman Park Shopping Centre, on Monument st, represents the suburbs primary shopping precinct.
<img src="https://www.urban.com.au/images/2019/9/13/Screen%20Shot%202019-09-23%20at%203.53.36%20pm.png" alt="">
While consistently ranking as one of Perth's 10 most expensive suburbs, Mosman Park hosts a chaotic property market with median house values known to jump as much as $150,000 month to month. Apartments are equally subject to unpredictable peaks and troughs.
Click <a href="https://www.propertyobserver.com.au/finding/location/suburb-data" target="_blank">here</a> to see exactly how Glen Iris, or your suburb, has fared over the past five years...
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