Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Regional Victoria

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The historic Euroa butter factory in Victoria's Strathbogie Shire has sold.
The 1900's building 160 kilometres north east of Melbourne had been operating as a country style wedding and function venue in recent years.
The property at <a href="https://www.realestate.com.au/sold/property-other-vic-euroa-126750406" target="_blank">79 Boundary Road North Euroa</a> sits amid two hectares of gardens, a popular space in the summer months.
The garden function space can seat 160 people, while the indoor rooms can seat around 100. 
There are eight accomodation suites including a two bedroom managers quarters.
<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/2018/6/27/butter2.jpg" alt="">
The suites have retained many of the original features of the factory, including exposed red brick walls and parts of original machinery attached to the ceilings and walls.
There are a number of guest lounge areas, breakfast room and bar and a commercial kitchen. 
Colliers International agent Kim McQueen sold the property which when initially listed late last year had an asking price of $2.5 million to $2.8 million.
It last traded for $710,000 in 2004.
The opening of the factory marked the expansion of the then colony of Victoria's dairy industry in the 1890s. It produced more than 270 tonnes of butter and six tonnes of cheese.
 
 
 
 
 
 
<h2 class="section-heading" data-reactid="71"> </h2>
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jrobinson-rf4aSBido9

Historic butter factory in Victoria sold

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A three bedroom house in Mooroopna, a rural town located 181 kilometres north of Melbourne, has been recently listed by mortgagees.
It was listed by Michael Blake from Youngs &amp; Co Real Estate with an indicative selling price of $110,000 to $121,000.
It last sold at $140,000 in 2007.
Situated on a 700 square metre block,<a href="https://www.realestate.com.au/property-house-vic-mooroopna-128314446" target="_blank"> the 80 Carr Cresent</a> house comes with three bedrooms and open plan kitchen and dining.
It is in close proximity to Echuca Road, schools and Coles grocery store.
The auction has been scheduled for June 9.
The suburb's median house price sits on $229,000, according to CoreLogic.
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j.ballantyne1990-6AQqhLzZaK

Three bedroom Mooroopna, Victoria house listed by mortgagee

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Deloraine, a 600 hectare cattle farm at 500 Old Hume Highway, Beveridge has sold for about $200 million.
The cattle farm on Melbourne’s northern fringe was bought by a Melbourne-based developer.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-beveridge-502743854" target="_blank">500 Old Hume Highway</a> holding is likely to be turned into about 6000 residential blocks.
Beveridge, 42 kilometres north of the city, is famed for being bushranger Ned Kelly’s first home town.
It sold through Biggin &amp; Scott Land agent Frank Nagle.
It was sold by members of the Laffan family, which had run cattle in the area for about 100 years.
The Laffans reportedly bought the property in 1964 for less than £90,000.
<a href="https://www.bigginscottland.com.au/500-old-hume-highway-vic-beveridge-4178061/" target="_blank">Deloraine </a>was previously owned by late wool industry leader Douglas Boyd.
Ned Kelly's father Red built their first home in Beveridge in 1859.
<img src="https://www.realestate.com.au/blog/images/1600x1600-fit,progressive/2018/05/09171252/capi_bfd78b367a5e1188a06378c3b6678708_041b66c3436a1e6517677dd60ab8f64c.jpeg" alt="500 Old Hume Highway Beveridge, for Herald Sun rea" data-capiid="041b66c3436a1e6517677dd60ab8f64c">
The Laffan family has owned Deloraine for 54 years.
The Herald Sun reported the buyer of the site was Akron Property Group, which is behind another housing development in the western suburb of Rockbank and two apartment towers in the Melbourne CBD.
The site is next to Stockland’s 11,000-block Cloverton housing development and near MAB Corp and Gibson Property Group’s $8 billion Merrifield mixed-use estate in Mickleham.
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Beveridge cattle farm sells for $200 million

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Pinecrest in Bright in Central Victoria has been listed with buyer interest tipped at around $3 million.
Pinecrest on Toorak Road is considered the gem of the town's premier residential properties, according to Dickens Real Estate agent Gerard Gray and Mario Paola.
Gray said he is expecting circa $3 million range, given the commercial development potential of the 1.5 hectare property.
The <a href="https://www.realestate.com.au/property-house-vic-bright-127237970" target="_blank">brick family home on Toorak Road</a> belongs to former Sydneysiders Andrew and Sue Bamford, who moved to Bright in the 90s and bought the town's largest caravan park.
In 2001 they bought the original Pinecrest estate that included only a small cottage used as a holiday house with stables.
The main residence with 380 sqm under roof has three bedrooms, four bathrooms and a large formal and informal living space.
<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/2018/1/15/pine2.jpg" alt="">
An additional building features a large doubled sided open fireplace, private entertaining bar, a dedicated home theatre room and a personal gym.
A swimming pool and tennis court sit on the grounds, as does a self-contained two bedroom guest accomodation.
There are over 100 established ornamental trees on the parcel.
Gray says that Pinecrest is a property for lovers of style, character, warmth and a touch of grandeur and is all centrally located and accessible in Bright, one of Victoria’s strongest tourist and getaway towns with excellent lifestyle, seasonal and business attractions.
“With its extensive scale and established vegetation and resort like facilities I consider that Pinecrest will appeal to a buyer seeking the best of living in regional Victoria.
“A developer would also see the opportunities here in terms of subdivision, potentially for a series of prestige allotments, even perhaps the creation of a high quality gated residential community, or a more commercial resort style or lifestyle living project by accessing the enabling permits.
“I am anticipating the Pinecrest will be sought by a family wanting a permanent or part time living experience that takes in the best that Bright, or the valley environments of north east Victoria can offer.
“We expect to attract developer interest with a project concept that takes in the undoubted potential of a great location with a large level site that affords a land banking or project option.
 
 
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Pinecrest in Central Victoria with $3 million hopes

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Offspring star Asher Keddie and artist Vincent Fantauzzo have sold Ravenswood, their 100-acre country Victoria property.
It was listed at $2,125.000. 
The couple bought Ravenswood, at Hesket, about 80 kilometres north-west of Melbourne, in 2014, just after they wed in Fiji. 
The 43 hectare farm is located on the north side of Mount Macedon.
<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/2017/11/27/RavenswoodOld.jpg" alt="">
It has been a private rural retreat for Keddie, her husband, six-year-old Luca and two-year-old Valentino. 
The two-storey timber barnhouse has been renovated in a modern Scandinavian-inspired style.
<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/2017/11/27/Ravenswood3.jpg" alt="">
A stable complex takes up the ground floor, while a three-bedroom, two-bathroom family residence sits on the top floor. 
Outside, there is an expansive vegetable garden, chook shed, two dams and a lake. Their farm is geared for equestrian lovers, featuring a stable, ménage and field shelters. 
It is listed through Keatings agent Sandi Mueller with no sale price disclosure.
It last traded in 2014 for $1.5 million. 
 
 
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Offspring star Asher Keddie's Hesket sale 

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<div>The fuel and convenience retailer Jasbe Petroleum will put three properties in regional Victoria to November 23 auction.</div>
<div> </div>
<div>
<div>The are the BP service stations in Wollert and Cranbourne, as well as a brand new United service station on Cheltenham Road in Dandenong. </div>
<div> </div>
<div>Both BP properties were developed and operated by Jasbe Petroleum, which operates 50 fuel sites nationally.</div>
<div> </div>
<div>The United service station in Dandenong was developed by the country’s largest independent fuel retailer, United Petroleum, and offers investors an opportunity to secure a brand new property with 15-year triple net lease.</div>
<div> </div>
<div>Jasbe Petroleum director, Miro Sloup, said the firm had taken a position to recycle some of the capital out of our company’s real estate investments with a view of reinvesting into the business and grow the convenience and fuel operations for our customers. </div>
<div> </div>
<div>The opportunity to purchase the three service stations follows the recent $5 million sale of a freestanding 7-11 in the regional Victorian city of Ballarat (above picture).</div>
<div> </div>
<div>Located at the corner of Hertford and Alfred streets in the Ballarat fringe suburb of Sebastopol, the 4,216 sqm property was purchased by a Melbourne-based farming family after outbidding 16 other groups.</div>
<div> </div>
<div>The property is leased to 7-Eleven Stores Pty Ltd on a 15-year term with fixed annual increases of 3%. The transaction reflected a sharp yield of 5.33%.</div>
<div> </div>
<div>CBRE suggest the sale highlighted an upturn in transaction activity in the service station investment market. </div>
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Three service stations in regional Victoria up for grabs at CBRE auction

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The environmentalist painter Richard Weatherly and wife Jenny are selling Mirranawarra, their Victorian estate.
The <a href="https://www.realestate.com.au/property-lifestyle-vic-dunkeld-7923138" target="_blank">113 hectare Dunkeld property</a>, on the edge of the Grampians around 280 kilometres west of Melbourne, comes with two houses.
Richard said a lot of his artistic work was motivated by his observations of the Grampians surroundings and local birds.
It has been the principal residence of the couple for over a decade after they paid $850,000 in 2005.
<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/2017/10/06/Dunkeld2.jpg" alt="">
They were only the second owners. The original owners built the three bedroom homestead with mudbricks, local timber and stonework in the early 1980s.
There is also two bedroom cottage, which Richard used as his studio and painting space for his works that specialise in birds.
Ruralco Property Camperdown agent Peter Worden has set a $1.5 million price tag.
Richard received an OAM in 2015 for his lifetime contribution to the visual arts, the environment and conservation.
This article first appeared in The Weekend Australian property section.
 
 
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Environmentalist painter Richard Weatherly lists Mirranawarra estate 

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The median dwelling price in regional Victoria is $300,000, up from $273,001 five years ago, according the December 2016 Housing Affordability Report from CoreLogic.
The median dwelling value across regional NSW now costs 6.6 times the median annual household income, according to CoreLogic. 
<a href="https://www.propertyobserver.com.au/images/2017/01/23/Screen%20Shot%202017-01-23%20at%201.54.41%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/23/Screen%20Shot%202017-01-23%20at%201.54.41%20PM.png" alt="">
Property Observer found this single level two bedroom family home at <a href="https://www.realestate.com.au/property-lifestyle-vic-enfield-7875154" target="_blank">80 Inglewood Drive Enfield</a> on the market for between $275,000 - $300,000. 
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