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

Sydney

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Restaurants in Potts Point have been caught in the fallout of liquor laws aimed at late night Kings Cross night spots.
The restaurants failed to tally the amount, in millilitres, sold each hour and submitted quarterly.
The special licence conditions were introduced last year for venues serving alcohol in the Kings Cross entertainment precinct, following community concerns about alcohol-fuelled violence.
They are now being reviewed a year into its operation.
Of the strikes incurred under the special conditions, 11 have been for restaurants, cafes and small bars that failed to provide alcohol sales data, the Office of Liquor, Gaming and Racing's report shows. 10 were in Potts Point.
Under the tough licensing conditions, all venues in the precinct licensed to trade after 8pm are required to report their alcohol sales every night between 8pm and 5am across eight categories, including light and full-strength beer, spirits and energy drinks. 
Kings Cross Liquor Accord chief Doug Grand, noting many small restaurants lacked the technology to automatically record their sales data, has asked the Office of Liquor, Gaming and Racing to exempt small venues with no history of violence from the requirements.
Mai Train, whose popular Potts Point Vietnamese restaurant Bay Bua has received one strike, said the reporting requirements were confusing and time-consuming. 
"Nobody gets drunk in a Vietnamese restaurant," she told Fairfax Media.
Another venue pinged under the new rules was Panhandlebar, a 52-seat cafe and wine bar established by Stephen Marks who said ordinarily his annual licence fee would be $400, but having incurred a strike, it could potentially rise to $5400. 
The NSW Small Business Commissioner Robyn Hobbs said she would meet with affected business owners next week, following a request from independent Sydney MP Alex Greenwich.
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jchancellor-FAypfDUnLy

Restaurants caught in Kings Cross liquor laws fallout

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Parts of Western Sydney are set to be switched over to the National Broadband Network, with small businesses being urged to contact their phone or internet provider as the switchover isn’t automatic.
Around 3,600 premises in Penrith will be switched over on 20 February, with a further 1,200 being cut over on 17 April. On 20 March, 2,600 premises in Blacktown, 3,600 in Homebush and 2,600 in Riverstone will be moved over. Then on 17 April, 6,100 premises in Windsor/Richmond and 2000 in Lidcombe will be cut over.
Businesses and commercial property owners with an emergency lift phone and/or a fire indicator panel need to register their details with the NBN Co before the cutover date by calling 1800 687 626.
Small businesses with an EFTPOS terminal, fax or alarm system need to contact their service provider (for example, the bank that supplies their EFTPOS terminal) to check whether the NBN is compatible with their devices.
Meanwhile, owners of medical alarms and medical alert systems need to register the devices by calling 1800 227 300 or completing the online form at nbnco.com.au/medicalregister.
“We are particularly urging people with special equipment including EFTPOS terminals and medical and security alarms which operate using a landline phone connection to contact their preferred phone company and internet service provider as soon as possible,” NBN Co spokesperson Darren Rudd said.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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asadauskas-o9wSWMRiAW

NBN switchover date approaches for Western Sydney suburbs

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Lakemba is located 15 kilometres south-west of Sydney's CBD, in the Canterbury local council area.
It's bordered by Wiley Park to the west and Belmore to the east. Lakemba railway station, in the centre of the suburb, is serviced by the Bankstown line. The 450 bus also delivers residents to Burwood, through Roselands and Strathfield and to Hurstville, via Roselands.
This year, as buyers increasingly focussed on Sydney's middle ring western suburbs to find affordable properties, Domain Group senior economist Andrew Wilson says Lakemba saw strong results.
"The numbers look very good for Lakemba," says Wilson. Australian Property Monitors recorded a median house price of $750,000 in Lakemba for the six months to November, up from $645,000 in the previous period.
The <a href="https://www.realestate.com.au/property-house-nsw-lakemba-118155211" target="_blank">three bedroom house</a> below sold for $750,000 in late November. The brick house on a 534 square metre plot had been held by the vendors for 23 years. They paid $149,000 for the house in 1991.
<img src="/images/2014/12/19/house.jpg" alt="">
In the six months to November 2014, median unit values increased from $337,750 to $360,000, according to Australian Property Monitors.
"That's very strong growth," he says. Wilson predicts the strong growth will continue next year, but will eventually slow.
"Sydney's still set to be the best performer of all the capitals next year. There's still a lot of energy in the market.
"Generally, Sydney house price growth is declining, from double figures over the last two years, per year.  It's gone from around 15% per year to 11%, and next year will probably see around 7% growth.
"Most suburbs will move in line with that. Lakemba, particularly in units, still has a close to double figure growth left in it," he explains.
According to Wilson, units in Lakemba are still in a range generally considered to be affordable, particularly given the suburb's location and local amenities.
A <a href="https://www.realestate.com.au/property-unit-nsw-lakemba-117981363" target="_blank">two bedroom apartment</a> in the eight-unit complex pictured below sold for $358,000 in early December. The elevated ground floor unit with a registered car space was bought by the vendor just a year and a half ago, for $260,000. In that time, after receiving fresh floorboards and new carpet in the bedrooms, its value has increased by 37.7%.
<img src="/images/2014/12/19/unit.jpg" alt="">
"Inner middle ring suburbs in Sydney always attract buyers, and it's all part of that search for more affordable options," says Wilson.
"The area is well serviced by transport and infrastructure, and of course, the NSW economy is doing very well.
The area's main retail strip is along Haldon Street, with a variety of stores and restaurants. There are a number of schools in the area, including Lakemba Public School, Hampden Park Public School and Holy Spirit College.
According to the Australian Bureau of Statistics, the Lakemba - Wiley Park area had a population of 27,228 as of 2012. 76% of Lakemba - Wiley Park residents spoke a language other than english at home in 2011.
In 2011, labourers made up the largest proportion of wage earners in the Lakemba and Wiley Park area, accounting for 19.5% of the area's paid workers. 15.0% of the area's wage earners described themselves as professionals, and technicians and trades workers made up 12.7% of wages earners.
Wilson explains that those who cannot afford Sydney's inner western suburbs are increasingly considering properties in Canterbury, Bankstown or Croydon Park. He expects the majority of buyers in the area are and will continue to be owner occupiers, given its affordability.
After a strong 2014, Wilson predicts that in 2015, Lakemba is "still set to be a popular suburb in a moderating market".
You might also want to read: Why I wouldn't buy an old home Sydney's western suburbs. 
Photo of Halden Street, Lakemba courtesy of Blu3d/<a class="mw-mmv-license" href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank" style="line-height: 1.3em;">CC BY-SA 3.0</a>.
 
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jrichardson-uRX5hFdKfN

Suburb spotlight: Lakemba presents affordable options for owner occupiers

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GUEST OBSERVATION
So two weeks ago I babbled on about how <a href="/expert-insights/time-for-a-reality-check-property-prices-certainly-can-and-do-go-down">Sydney property prices will go down in value</a> and how many property buyers live in a fantasy world where they don’t think it will or has ever decreased.
So I thought I would go into one Sydney suburb, diagnose the stats and show you that it can be a reality for this suburb.
There was no science in choosing Castle Hill as the suburb of choice. I didn’t troll through pages and pages of data to choose this particular suburb though.
Looking at the latest CoreLogic RP Data stats as at September 2014, <a href="/news">Castle Hill</a> has a median house price of a whopping $982,000.
Yep that’s right, its going to cost you just shy of a $1 million to buy in Castle Hill. In fact, it will probably cost you more. Even a three bedroom unit sold over weekend for $920,000. Yes, a unit.
According to CoreLogic RP Data it has grown in value 19% in the last year and 49% over the last five years. So in English, in 2009 you could buy in Castle Hill for $650,000.
With an average ‘days on market’ of 29 days, it is showing that the market is still red hot. So I would assume that we will see the magic million mark passed by Christmas, if not already.
Yields have failed to keep up, like many Sydney suburbs. They do their best work in a quiet market where no new houses are being built and the supply dries up. That said, the median rent is $650 per week.
So forget investing there, with a yield at 3.4% you can achieve this in a bank account without the risk. It’s one of those suburbs where it is cheaper to rent than to purchase! And the volume of sales, 576, shows significant numbers that can be relied upon. Be wary of sale figures in a low sales volume environment.
Now we need to add some income and other fun facts into the mixing bowl from the 2011 Census. Of all the working families, 41% had one major breadwinner whilst the other partner either worked part time or not at all. The suburb averages three people per dwelling and they own two cars.
The median family income is $2,059 per week – that’s a tidy $107,068 per annum.
But hang-on, that’s the whole household income and that’s gross before tax. So take home in hand is $1,487 per week, well for 41% of families it is.
Now lets go back and look at the house figures again and put the income and other stats in.
Let’s stick with the median house price at $982,000. If you were to purchase with a 20% deposit you would require around a $230,000 deposit and have a loan for $785,600. With an interest rate of 4.8% the principle and interest payments it equals $951 per week over 30 years.
That’s a whopping 63.9% of your net income per week going towards your mortgage. Does that sound like it makes financial sense? Better hope interest rates do not ever go up, or that you have a child, or both. That’s a recipe for bankruptcy.
But hang on, wasn’t the average people per household three? Oh, so they do want to have a family and a house in Castle Hill. Uh oh.
Now I have gone and checked with the banks that they would even lend you the money, and I can confidently tell you that even the banks are not that crazy. So if that’s the case, then how are people affording to buy these properties if the banks wont give them a loan that size?
Well, there are possibly several answers here:
<ul>
<li>They have larger than 20% deposits</li>
<li>They could be investors from other suburbs, so their incomes are different</li>
<li>The lower incomes earners may have owned property for a while when prices were lower</li>
<li>The higher income earners are buying the properties today</li>
</ul>
As the median income is the middle income achieved in the area, this means there are certainly income earners on a higher income than $107,000. It is more than likely these people, who are on incomes of $135,000 or higher, who are purchasing properties at this level. Doing some numbers here on servicing and income categories, it is those families in the top third percentile that could only realistically afford properties at this level. 
But hey, let’s go crazy and pretend interest rates will go up (we all know that never happens) and let’s say they go up to 8% – that same scenario above with the higher income earner at $135,000 can no longer afford to get that loan.
Can they afford to make the loan repayments though?
$785,600 principle and interest at 8% equals $1,329, which equates to 73% of their income, which leaves them $485 per week for:
<ul>
<li>Food to feed a family of three</li>
<li>Fuel for two cars</li>
<li>Rego</li>
<li>Council &amp; Water rates</li>
<li>Alcohol and possibly cigarettes</li>
<li>Bills</li>
<li>School fees</li>
</ul>
So it could potentially be done, but you would be living on bread and water and in reality this family would go bankrupt.
Remember my tip: Always do your sums on 9%.
And the figures are telling me that this is going to be a common story for Castle Hill in the coming years.
The numbers are leaning towards a suburb that is living well beyond its means and I would say that there a little of the “keeping up with the Joneses” going on here too and that’s a recipe for one mighty price correction.
TODD HUNTER is buyer’s agent, director and location researcher for Sydney-based <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup</a>.
Picture of a Castle Hill house courtesy of Wikimedia Commons.
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thunter-umjjMzoT8b

Falling down Castle Hill: Diagnosing a suburb living way beyond its means

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All three of the latest surplus Millers Point terrace offerings failed to sell at auction earlier this week.
The properties were being sold with an unregistered plan of subdivision.
The result ended the stellar run which began in August for the state government disposal.
<a href="/news/nsw/state-government-millers-point-terrace-sell-off-continues-apace">The Georgian-style properties</a> were built by local publican William Cole in the 1840s.
The properties were at 24 Argyle Place and 28 Argyle Place and 32 Argyle Place.
The initial six properties sold at Millers Point netted the state government around $15 million.
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Millers Point stellar selloff hits subdivision stumbling block

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Sydney’s vacancy rate, according to the November 2014 REINSW Vacancy Rate Survey, now sits at 1.7%. This figure was also that posted for Sydney <a href="/expert-insights/buying/perth-and-darwins-vacancy-increases-alarming-sqm-research">by SQM Research</a>.
With the figure representing a balanced market sitting at the 2.0% mark, REINSW president Malcolm Gunning has said that the vacancy rate suggests that supply isn’t meeting demand.
“Therefore we question the Australian Prudential Regulation Authority’s (APRA) concerns and recommendations for banks to tighten their lending criteria to investors,” Gunning said.
Inner Sydney availability dropped 0.1%, to 1.5%, while outer Sydney increased 0.3% to 1.7%. Middle Sydney fell 0.2% to 2.0%.
“Declines in the inner and middle Sydney were leveled out by the increase in the outer areas. The lows in Inner Sydney have not been seen since February 2013. It is a third month in a row that vacancy rates have been stable at 1.7%,” he said.
Newcastle, the Illawarra, Coffs Harbour, the South Coast and the Northern Rivers also saw drops in vacancy rates.
Meanwhile, the Hunter region remained steady, while Wollongong, the Murrumbidgee, New England, Albury, South Eastern all increased.
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jduke-EHk3XBmHkn

Sydney’s vacancy rate doesn’t justify APRA recommendations: REINSW

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Architecture practice Rothelowman has capped an impressive year by scooping a number of prestigious awards recently. In addition to collecting UDIA Awards for Excellence in both Victoria and Queensland, earlier this month, UDIA Victoria also named Rothelowman as Consultancy of the Year.

The Victorian acknowledgement covers a commendation for Medium Density Development via their Lex Apartments design in South Yarra, as well the Award for Excellence in the Urban Renewal category for the adaptive reuse of Tip Top Brunswick.  Regular readers will be aware of Apartments.com.au's coverage of the Tip Top development, both from a <a href="/news/public-permeability-and-the-tip-top-brunswick-east-development">urban perspective</a> and also as an <a href="/news/little-projects-current-success-and-future-intent">onsite guest</a> of Little Projects Managing Director Michael Fox.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_0779_0.jpg" rel="gallery-all" title="Rothelowman's Tip Top Brunswick upon completion"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/img_0779_0.jpg?itok=WzmdVSUI" title="Rothelowman's Tip Top Brunswick upon completion" width="580"></a>

<figcaption>Rothelowman's Tip Top Brunswick upon completion</figcaption></figure>With 2014 the most successful year of Rothelowman's 23-year history in which the firm on average was commissioned to commence a new project every second day, Rothelowman have built upon their success by recently opening a Sydney office.  Apartments.com.au spoke with the new Principal of Rothelowman's NSW/ACT branch, Ben Pomroy recently in order to explore what lies ahead for the Harbour City and Rothelowman.

Having worked in an architectural practice elsewhere in Sydney Ben joined Rothelowman seven months ago with the Melbourne-based firm already enjoying a Sydney presence by way of a well-earned reputation with national clients.  It's this national understanding mixed with firsthand knowledge of Sydney's planning and design landscape that Ben believes will propel the Sydney practice forward rapidly.

Questioned on the state of the Sydney residential market Ben suggests that Sydney has been somewhat sluggish in recent years, although 2015 will bring the Harbour City back in line with Melbourne and Brisbane, which are both enjoying buoyant markets.  B-Point Tower seen below is the maiden Sydney project and features a 22 storey residential apartment building with146 apartments plus 7,900sqm of Gross Floor Area.  

<blockquote>
Through innovative design and spatial planning, Rothelowman have created a contemporary and sophisticated building that sits in direct contrast to its older style high rise neighbours. A true mixed use building, the blend of residents across all age groups, and a highly active ground plane provides a look at the future for Burwood CBD.

In a new and evolving context of taller buildings in Sydney, Rothelowmn have designed an iconic tower for Burwood Town Centre. The articulated and active retail podium sits directly adjacent the main train station. The podium responds to the immediate lower scale context, with the tower setback above street level to respond better to the district scale and access expansive views to the Sydney CBD.
<cite><a href="http://www.rothelowman.com.au/projects/project/135/bpoint-tower">B-Point Tower, rothelowman.com.au</a></cite>
</blockquote>

The Burwood project leads a string of projects, a mix of high and low rise, along with mixed-use buildings currently on the drawing board.  Though there a target number of projects/apartments to be delivered per annum has not been set, Ben points out that Sydney has suffered several consecutive years of dwelling supply shortfall relative to demand.  Prosperity for both Sydney and Rothelowman appear certain.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image2bp.jpg" rel="gallery-all" title="Burwood's B-Point Tower. Image courtesy Rothelowman"><img alt="" class="image-article-full-width-580px" height="755" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image2bp.jpg?itok=ZcyHlUPX" title="Burwood's B-Point Tower. Image courtesy Rothelowman" width="580"></a>

<figcaption>Burwood's B-Point Tower. Image courtesy Rothelowman</figcaption></figure>Local knowledge also comes into play, with the design dynamic naturally differing between each city. Recognising that New South Wales planning controls too play a part, with existing laws very much catered toward low and mid-rise multi-unit developments as opposed to high-rise apartment living. As Ben suggests, this leads to implications on apartment sizes and configurations, which require a new design approach if they are to be adapted to taller buildings. Commenting on the changes that are currently in motion, Ben said Sydney is “waking up" to high-rise amenity with New South Wales planning controls for high-density living realigning more closely with Victoria's.

Also managed via Rothelowman’s Darlinghurst office is the firm’s ACT and regional New South Wales operations. With many organisations and government departments holding national interests in Canberra, Ben sees the ACT yielding strong results. Though geographically small, Ben believes the ACT is a high-quality market that he is actively exploring.
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silvermb

Rothelowman's expansion plans pay dividend

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Sydney has between 10%-20% growth left in the upward residential cycle over the next few years, according to estate agent John McGrath.
"Periods of ups and downs are to be expected, particularly after a big surge in prices, so next year we might see some months where median prices rise and fall," he said.
"Prices could be fuelled by share market fluctuations, economic factors and interest rate movements."
McGrath tipped after "incredible" price growth in Sydney in 2013 and 2014, he was "expecting the market to slow down in 2015 but not go backwards".
He affirmed his high hopes for the Brisbane market <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/whats-in-store-for-property-in-2015/" target="_blank">in the Switzer blog</a>.
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Sydney residential price growth will slow, but not go backwards: John McGrath

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Another near-record number of Sydney homes went under the hammer with 979 weekend auctions.
It ranked as the fourth highest day for auctions this year and the fifth highest ever.
Around 400 auctions are scheduled just five days before Christmas.
The weekend result, according to the initial Australian Property Monitors (APM) report, was 75%, with the prior weekend revised down to 65%.
The inner west hosted 172 auctions followed by the south with 141, but the busiest suburb for auctions was Blacktown in the west with 15, followed by Mosman on the lower north shore and Epping on the upper north shore each with 14.
APM had nine sales among the 10 reported results at Blacktown.
The price ranged from $497,000 for a three bedroom cottage <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011604082" target="_blank">at 41 Maloney Street</a> (pictured above) to $902,000 for a four bedroom, 10 year old home on a large 1162 square metre block at <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011625163" target="_blank">2a Felicia Place</a>. Starr Partners were saying $799,000 plus for the pricey offering.
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Blacktown secures strong auction success among busy Sydney auction weekend

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Sydney celebrity couple Anthony and Terry Minichiello have bought a home in Vaucluse.
Selling agent Mark Meyer of LJ Levi listed the two-storey house two weeks ago with 2015 auction plans.
There were $3 million plus hopes for the late1970s/early 1980s, two storey, brick home. It was held by one family for 35 years, according to the marketing.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=118621211&amp;theme=rea.sold" rel="photos" data-id="118621211"><img src="https://i1.au.reastatic.net/456x342/66b96bfe1fafea8788eb41aaa7f6c8d769025faecd9e1a6f6c3ccde06674da25/main.jpg" alt="163 Hopetoun Avenue, Vaucluse" title="163 Hopetoun Avenue, Vaucluse" data-index="0"></a>
Vaucluse's median house price is $3.37 million, <a href="/news">according to CoreLogic RP Data</a>, down on its $3.78 million peak in 2010.
Since the birth of one year old daughter, Azura, the couple had been house hunting through buyer’s agents, <a href="https://instagram.com/p/wf-XY6BlVw/" target="_blank">Hastings Property</a>, Title Tattle gathers. They only wanted to buy in Vaucluse. 
The retired Sydney Roosters captain Anthony Minichiello and shoe designer wife Terry Biviano sold their Bondi Beach penthouse for just shy of $2 million in July on delayed settlement terms.
The two-storey apartment with ocean views was bought in 2005 for $1.35 million, a year before the couple met.
Sunday Telegraph columnist Ros Reines recently suggested, given their strong fashion and sporting ties, "it would be easy to consider Biviano and Minichiello as Sydney’s answer to Posh and Becks".
“No, not at all,” <a href="https://www.dailytelegraph.com.au/entertainment/sydney-confidential/mini-and-me-are-not-a-little-version-of-posh-and-becks-terry-biviano/story-fni0cvc9-1227155087314" target="_blank">Terry advised Ros</a>, who's best known these days as a fiction novelist.
Reines's fellow Telegraph property columnist Kirtsen Craze doesn't sound convinced by Terry writing the Vaucluse couple’s "plain Jane family home is a far cry from their designer lifestyle".
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