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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The property developer Crown Group launches Sydney by Crown this Saturday, 22 November.   The new $250-million tower will be built <a href="https://sydneybycrown.com.au" target="_blank">at 161 Clarence Street</a> in the Sydney CBD.
There will be same-day launch events in Sydney, Jakarta and Singapore for apartments in the 220-apartment tower overseen by Crown Group director of sales and marketing Adam Sparkes.
Designed by Koichi Takada Architects, the 25-storey building will feature heritage-inspired lower levels transitioning to a modern glass-and-steel tower, capped with dozens of steel arches.
These are a reference to the iconic Sydney Harbour Bridge and Sydney Opera House, forming a striking addition to Sydney’s skyline, Crown Group CEO Iwan Sunito told Property Observer.
Sydney by Crown will also be home to a collection of Crown Suites serviced apartments which draws on Crown Group’s 18 years’ experience.
Crown Group was flooded with enquiries after Sydney by Crown registrations of interest opened earlier this year.
The apartment sizes (approx) are:
Studio 44-55sqm  1 bedroom Plus study 50-59sqm  2 bedroom 64-76sqm  2 bedroom Plus study 82-89sqm  3 bedroom 94-104sqm  Penthouse 120- 130sqm   Founded in Sydney in 1996, Crown Group has completed major developments in Sydney’s locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes.
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jchancellor-FAypfDUnLy

Steel arches atop Sydney by Crown as Koichi Takada takes inspiration from Sydney icons

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Some of the world's best urban planners, academics and policy makers are in Sydney to discuss the future of Sydney's Bays Precinct with community representatives.
The public land on Sydney's inner harbour is four times as large as Barangaroo.
Among the experts in attendance is Dutch urban planner Riek Bakker, who told the summit today that trust was central to the development of any city.
<a href="https://www.propertyobserver.com.au/https://twitter.com/emfarrelly/status/535220408841437187" target="_blank"><img src="/images/2014/11/20/tweet-nov-20-one.jpg" alt=""></a>
Her comments, noted by writer and architecture critic Elizabeth Farrelly, were made two days after State Treasurer Andrew Constance said 16,000 dwellings were expected for the site.
The government has since backed away Constance's statement, with Planning Minister Pru Goward saying the government never set a 16,000-residence target.
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jrichardson-uRX5hFdKfN

Tweet of the day: Riek Bakker at the Bays Precinct International Summit

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GUEST OBSERVATION
It’s interesting that we’re waiting to see what’s in store for 2015. But it’s us – the buyers, sellers and onlookers – whose behaviour moves our market. In the cycle of Sydney property, it goes something like this…
<ol>
<li>
Street level: The buyers/sellers on the front line, listing, inspecting, bidding and exchanging. 
</li>
<li>
Data reporting: Street level activity is distilled into bite-sized graphs and reports. 
</li>
<li>
Headlines: Data reporting drives what we hear in the media, whether relevant or not. Headlines are formed, as sensationalism fuels speculation. 
</li>
<li>
Fear and optimism: Speculation shifts confidence, and new outlooks and expectations are formed. 
</li>
<li>
Repeat: These expectations change buyer/seller behaviour, and the cycle continues.
</li>
</ol>
In a market sustained with consumer confidence, what is this love of data-cherry-picking actually telling us? Watching at street level cuts out that speculation, providing a better sense of where the market is going.
<div class="aspectRatioPlaceholder is-locked"><img class="graf-image" src="https://d262ilb51hltx0.cloudfront.net/max/1400/1*b9pK2cwYhBhOHIS_Wur3SQ.jpeg" data-image-id="1*b9pK2cwYhBhOHIS_Wur3SQ.jpeg" data-width="2835" data-height="1890" data-action="zoom" data-action-value="1*b9pK2cwYhBhOHIS_Wur3SQ.jpeg"></div>
17 Bridge Road, Glebe  (pictured above)  sold for $950,000, showing inner-city terraces can still be found for under $1 million.
Yet we wait on reports with anticipation. Take clearance rates, we thrive on those.
If they’re above 80% it’s a boom. The minute they dip below we’re destined for gloom. A recent report cited the Sydney clearance rate as below 80% for the first time in nine weeks. But that new figure was 79.3%. The angle was, ‘the end of boom time’.
Perhaps pricing simply outpaced buyers that weekend. Of course, that’s not sexy as a headline.
<div class="aspectRatioPlaceholder is-locked"><img class="graf-image" src="https://d262ilb51hltx0.cloudfront.net/max/1400/1*ya6qXIOdQjlGZUUjKw_jAg.jpeg" data-image-id="1*ya6qXIOdQjlGZUUjKw_jAg.jpeg" data-width="2835" data-height="1890" data-action="zoom" data-action-value="1*ya6qXIOdQjlGZUUjKw_jAg.jpeg"></div>
56 Fitzroy Street, Surry Hills  (pictured above)  sold for $2.6 million, it was one of a string of properties that showed high activity in this luxury price point.
Consider how we found ourselves in this ‘boom’. Demand is what drove the initial heat. We saw value and started buying up. Buyer-enthusiasm outpaced seller-expectations, leading to price increases, rising clearance rates, and juicy headlines.
Vendor hopes skyrocketed with every new headline and they began setting a new level of pricing with their exuberance. Momentum continued while buyers saw value and were happy to accept these new prices as the norm.
Of course, in any upswing, buyers will inevitably reach a point when they say ‘no’. They won’t pay 10%-more-than-next-door forever.
That’s perfect for ‘slower market’ headlines, ‘fewer buyers at auction’ and ‘clearance rates drop’. Then, confidence will shift again.
It’s not always impending doom. The buyers are still there. They wait to identify value each time our market gets overexcited. We often ignore this logic and the fact the market is subtler than reports suggest.
<div class="aspectRatioPlaceholder is-locked"><img class="graf-image" src="https://d262ilb51hltx0.cloudfront.net/max/1400/1*sNG0OP0Z8kTiqz5R69S_ww.jpeg" data-image-id="1*sNG0OP0Z8kTiqz5R69S_ww.jpeg" data-width="3543" data-height="2362" data-action="zoom" data-action-value="1*sNG0OP0Z8kTiqz5R69S_ww.jpeg"></div>
311/1 Marian Street, Redfern (pictured above) sold for $905,000, it’s tipping into that million-dollar-apartment category that is hotly contested.
And let’s not forget our micro market<a class="markup--anchor markup--p-anchor" href="https://medium.com/@BresicWhitneyEA/uncovering-sydneys-micro-markets-d35f2ee3325a" style="line-height: 1.3em;" data-href="https://medium.com/@BresicWhitneyEA/uncovering-sydneys-micro-markets-d35f2ee3325a">s</a>. In certain sub-markets of Sydney real estate, prices outpaced buying long ago. Some executive residences in the Eastern Suburbs have wavered while plenty of entry-level houses in, say, the Inner West continue to rally strongly.
Bystanders will claim to have all the answers in 2015. But if buyers and sellers are shifting markets with their behaviour and sentiment, watching at street level keeps us one step ahead as we look for value and see what’s really happening.
The best buying and selling will still come from players who immerse themselves in their favoured pocket of the market.
<a href="https://www.bresicwhitney.com.au/" target="_blank">BresicWhitney</a> is a boutique real estate group founded in Darlinghurst in 2003.
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po-LsXgBTHBmX

How to stay ahead of the pack next year in Sydney's market

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A retail store in Sydney’s newest economic precinct, The Quay, has been sold for $2.95 million to a Hong Kong investor.
Shop 7, at 61 to 79 Quay Street is 82 square metres and is located near Central Station, Darling Harbour and Chinatown. It is currently being leased by the Chinese noodle bar- Two Sticks, on a new five year lease with two five year options. Two Sticks became popular in Sydney after opening a store in George Street earlier in the year.
The space will receive $180,000 per annum in gross rental income and comes with a fixed four percent annual increase. 
The property was sold by Andy Hu of Knight Frank, on behalf of Connoisseur Investment. Hu said properties such as these are rarely put on the market.
"We have seen a large number of offshore investors especially from Hong Kong, actively searching for quality prime strata retail investment opportunities and the investment yield has tightened further due to limited supply on the market," Hu says. 
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Hong Kong investor snaps up retail store in Sydney's The Quay

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Shimao Property, controlled by billionaire Hui Wing Mau, has bought 175 Liverpool Street in Sydney’s CBD.
<a href="https://rca.joneslanglasalle.com.au/property-offices-nsw-sydney-501232079" target="_blank">It sold through JLL</a> for around $390 million by the Singapore’s GIC Real Estate that paid $230 million in 2005.
The newly refurbished A-Grade office building totalling 48,890 square metres of NLA is occupied by Telstra, state and federal government tenants.
GIC, the sovereign wealth fund of Singapore, owns about $4 billion worth of real estate in Australia, including Sydney's Chifley Tower and Queen Victoria Building.
The Chinese-born Hui Wing Mau is a BRW Rich Lister and was ranked by Forbes as China’s 12th richest person, worth around $6.35 billion.
He is a member of the Chinese People’s Political Consultative Conference. 
Shimao Holdings, which is listed on the Hong Kong stock exchange, holds 112 developing projects in 42 cities.  
Its holdings include hotel projects such as the $548 million InterContinental Shimao Hotel in Shanghai.
Following the completion of InterContinental Shimao Shanghai Wonderland (Groundscraper Hotel) in Shanghai, a hotel situated at the lowest altitude in the world, Shimao Property announced its “Hotel on the Cliff” project in Jiangyin. 
The group generates its turnover primarily from property development, property investment and hotel operations.
As at 30 June 2014, turnover of the group reached RMB 23.68 billion (A$4.4 billion), grew by 42.0% when compared to RMB 16.68 billion (A$3,14 billion) for the corresponding period in 2013.
During the period, revenue from property sales amounted to RMB 22.61 billion, accounting for 95.5% of the total revenue and representing an increase of 44.1% over the corresponding period in 2013.
The average recognised selling price increased by 4.2% to RMB 11,518 (A$2,166) per square metre in the first half of 2014, from RMB 11,059 (A$2,080) per square metre for the corresponding period in 2013. 
Notwithstanding the Chinese residential market remains sluggish in the first half of the year, the group posted contracted sales of RMB 8.07 (A$1.51 billion) billion in June, which was a record high for monthly sales since the inception of Shimao Property.
It was also the fourth month in which the group had registered consecutive sales growth, after it had posted monthly sales of more than RMB 6 billion (A$1.13) from March to May inclusive. 
Building on its strategic positioning, established in 2013, as a “Pioneer in Urban Evolution” and a “Lifestyle Service Provider”, Shimao Property launched branding campaigns across the country this year.  
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Singaporeans sell Hyde Park, Sydney office to Hui Wing Mau's Shimao Property

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A fire damaged St Peters home will be auctioned this weekend.
The house at <a href="https://www.realestate.com.au/property-house-nsw-st+peters-118283099" target="_blank">81 Frederick Street, St Peters</a> exhibits significant burns, with soot blackening the interiors and façade. Photos above show one room completely ruined, with a collapsed ceiling.
Selling agents Santos Sulfaro and Frank Sulfaro of Richardson &amp; Wrench Leichhardt are expecting the home will attract around $650,000 when auctioned on Saturday morning by Damien Cooley.
The three bedroom, one bathroom house is being marketed as a blank canvas with renovation or development potential – albeit rather dramatically, as seen in the video titled Fire Sale below.
{qtube vid:=EFF3Cojzuw0}
The owner is reportedly a former IT worker who isn't able to claim insurance for the fire after allegations it was deliberately lit by an unidentified occupant who faces court next week, according to <a href="https://news.domain.com.au/domain/real-estate-news/firedamaged-st-peters-house-listed-for-650000-20141029-11cyz6" target="_blank">Domain</a>. He paid $290,000 for the freestanding brick house in 1998.
Police confirmed to media a 55 year old man was due to appear in court on 1 December, facing charges of contravening an apprehended violence order and damaging a property by fire.
 <img src="/images/2014/11/19/306.JPG" alt="">
Above: The home in healthier condition, 2004.
According to the listing, despite "dramatic fire damage" to the hallway and one bedroom, the other areas are mostly only affected by soot.
The house, on 195 square metres, has a recently renovated bathroom, metal press ceilings, timber floors and tessellated tiles. Its $650,000 guidance prices it well below its neighbours – the median price of <a href="/news">St Peters </a>house in October was $1,212,000, according to RP Data. Last week, an unrenovated three bedroom brick home in St Peters <a href="https://www.realestate.com.au/property-house-nsw-st+peters-118222391" target="_blank">sold for $800,000</a>.
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Catching fire: St Peters’ burnt offering

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A four-bedroom Waverton house with extensive harbour views has been sold having been expected to sell for over $5.5 million.
The property at 9 Balls Head Road had no sale price disclosure, but Property Observer gleans more than $5.7 million was secured.
It features built-in wardrobes, an elevator, intercom, butler’s kitchen and home theatre.
It has views spanning from Berrys Bay to Walsh Bay and of the city skyline from the 750 square metre block.
<a href="https://www.mcgrath.com.au/buy/house-waverton-nsw-2060/235432/?searchID=44543373" target="_blank">The selling agent David Howe of McGrath Northbridge </a>said that the family home had been renovated two years ago.
It attracted high interest from foreign buyers.
The property last sold in 2008 for $2.7 million.
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Waverton trophy home sale at around $5.7 million

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The injured Australian cricket captain Michael Clarke has reduced the price expectations on his Lilli Pilli house, having missed Sydney's property market resurgence.
There was $2.7 million plus price guidance for its August McGrath auction - which is less than his 2006 purchase price of $2.87 million.
The pricing came despite its post-2006 renovation.
Back in 2009, Clarke thought of quitting the Sutherland Shire but failed to achieve his then $3.4 million hopes.
Now, some two months after auction, <a href="https://www.mcgrath.com.au/buy/house-lilli-pilli-nsw-2229/206824/?searchID=41873569" target="_blank">there are $2.4 million plus expectations</a> for <a href="https://www.mcgrath.com.au/buy/house-lilli-pilli-nsw-2229/206824/?searchID=41873569" target="_blank">t</a>he contemporary five-bedroom, four-bathroom split-level house that comes with pool, spa and boat shed on its 1,670 square metre bushland riverfront block.
Earlier this year Clarke and wife, Kyly spent $8.3 million in Vaucluse.
Clarke is currently in a race to prove his fitness for the upcoming test series against India, having succumbed to his third hamstring injury this year.
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Michael Clarke lowers price for redundant Sutherland Shire home

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Sydney is going to remain a seller’s market for some time yet, according to estate agent John McGrath.
He said it was surprising to see media reports describing the Sydney property market changing to favour buyers.
"We are still very much in a sellers’ market because buyer demand is so far in front of supply, even with the additional stock coming onto the market today," he blogged on the <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/its-still-a-sellers-market/" target="_blank">Switzer website</a>.
"The fact that the clearance rate on the second weekend of November dipped to 75% in Sydney does not indicate a change in market sentiment – it’s just a reflection of a big jump in volume and that’s only happening because vendors are feeling supremely confident, not because they’re panicking." 
As the property cycle was only two years old – and typically last three to five years - he maintains Sydney was still on a long-term growth trajectory. 
"There is still room over the next couple of years for another 5 to 10% growth in prices in key high quality Sydney markets."
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Sydney is still a sellers' market: John McGrath

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The weekend's cheapest Sydney sale was a two bedroom $273,000 Rosemeadow villa.
It last sold at $172,000 in 2008, reflecting 8% annual growth.
It was available for rent at $275 a week on its 2008 sale.
<a href="https://www.realestate.com.au/property-villa-nsw-rosemeadow-118186883" target="_blank">The 4/52 Julius Road sale</a> was through Richardson &amp; Wrench Campbelltown agent Russell Wyer. 
RP Data gives the suburb's median house price as a record $375,000 and a record $320,000 for the median unit price.
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