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

<html><body>
The Sydney-based Crown Group has sold the final apartment in its seven-tower 653-apartment development - Top Ryde City Living.
It was a one bedroom apartment.
More than 600 residents now occupy the resort-style development, positioned on the vantage point above Top Ryde City Shopping Centre with views to the Sydney Harbour Bridge, Blue Mountains and North Shore.
Crown Group Chief Executive Officer Iwan Sunito said the sale of the final apartment at Top Ryde City Living was an important milestone for Crown Group.
“For a development of this scale to sell out so shortly after completion is a testament to the high quality and luxury appeal we have worked to deliver,” he said.
Completed in August 2014, Sunito said Top Ryde City Living’s owners whom purchased early had experienced a "significant increase" in the value of their apartments.
One bedroom apartments initially sold for about $350,000 when Top Ryde City Living’s first apartments were offered for sale in 2011, while a one bedroom plus study apartment sold this month for $754,000.
Crown Group’s director of sales and marketing Adam Sparkes said Top Ryde City Living’s success came after a quick response to new apartments at every new release over the three-year timeframe given access to transport links, education, workplace hubs and retail.
Top Ryde City Living has been recognised by some of the most sought-after awards in the industry, most recently being named winner of best Outdoor Project at the 2014 HIA-CSR NSW Housing and Kitchen &amp; Bathroom Awards.
Its other accolades include 2013 Urban Development Institute of Australia (UDIA) High Density Development Award, 2013 UDIA NSW President’s award and Master Builders Association Excellence in Housing award 2013.
The final stage of Top Ryde City Living, named Viva by Crown was launched for sale in August 2013.
Top Ryde City Living began construction of its seven towers in late 2010.
</body></html>

jchancellor-FAypfDUnLy

Crown secures Top Ryde City Living sellout

<html><body>
Westpac boss-in-waiting Brian Hartzer has a new Vaucluse abode.
It is the trophy mansion designed by architect Michael Dysart with impressive rooftop entertaining space.
Recent land title settlement records show a $12.75 million purchase in his wife, Georgiana's name.
It had been offered through Sotheby's International by ISS Australia chief executive Dane Hudson.
Hudson had commissioned<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-116207307" target="_blank"> </a>the three-storey residence following his 2003 purchase for $5.25 million of the cul-de-sac 1,233 square metre parcel of land
It has views of the ocean, harbour, Bridge and Opera House, spanning 767 square metres of living space over three levels. It has five en suite bedrooms and seven bathrooms within parents', childrens' and guest wings. Hartzer and his wife share six children aged between 7 and 16.
The gardens designed by Jane Coleman come with gas-heated pool and BBQ station.
</body></html>

Westpac boss Brian Hartzer's $12 million Vaucluse home

<html><body>
More than $21 million has reportedly been paid off the plan for a penthouse in the Pacifici Bondi development.
The purchase is in a company name linked to Andrew Roberts, the former chief executive of Multiplex and the son of the late John Roberts, who founded the construction company.
The off the plan penthouse is adjacent to the space that set the previous record in June last year at $21 million.
It was reportedly bought by Will Vicars of Caledonia Investments who bought adjoining penthouses for $10.1 million and $10.9 million and is amalgamating them.
The developers, Allen Linz, of Rebel Property Group, and Eduard Litver, of Capit.el Group, then commissioned this two-storey "lighthouse" covering almost 900 square metres.
The four bedroom apartment, designed by Burley Katon Halliday has 40 metres of Campbell Parade, Bondi Beach frontage.
The Vicars top floor space in<a href="https://www.pacificbondibeach.com.au/Overview/" target="_blank"> the redevelopment of the Swiss Grand Hotel</a> will have a total size of 975 square metres, including a 468 square metre terrace fronting the beach.
The Roberts apartment was set to have a slightly larger internal space which initially came with $25 million to $29 million plus hopes.
The prior Sydney top apartment sale which took place in 2008 for a 12th-floor unit in the Bennelong development at East Circular Quay which fetched $16.8 million when bought by the Moran health care family. It was their third adjoining unit in the complex.
</body></html>

Another $21 million Bondi Beach off the plan penthouse sale

<html><body>
Governor-General Sir Peter Cosgrove and his wife, Lady Cosgrove, failed to sell their Neutral Bay home amid today's saturated weekend auction offering.
It has now been listed for private treaty sale after the $2.1 million vendor bid, pulled from auction without any buyer bidding.
There was a 74% overall Sydney clearance rate today, which mirrored last weekend's revised lower 74% clearance rate.
With around 1170 offerings, the Melbourne result was 72% today matching last weekend's revised 72% success rate.
Sydney's house auction median was $1.1 million and it was $810,000 in Melbourne.
The top sale around the nation was in Elwood where $6.55 million was paid for 6 Dickens Street, the 1890s property,Trefusis, which was sold by interests associated with DFO founder and former chief executive Geoff Porz. It cost $3.5 million in 2009 before its renovation. Agent Abercromby's were saying $5 million plus.
Sydney's top reported sale was 20 Agnes Street, Strathfield at $3.45 million.
The Cosgrove listing following the couple's recent move to their official, vice-regal residences, nearby Admiralty House in Kirribilli and Government House in Canberra.
McGrath Estate Agents had expected $2.1 million plus for the <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-neutral-bay-nsw-2089/240264" target="_blank">three-storey Spruson Street semi</a>.
They paid $1.95 million in 2007, two years after Sir Peter ended his term as the Defence Force chief.
They were in Brisbane at the time of the auction having greeted the US President Barack Obama on his arrival to the G20.
It was among the 882 listings across Sydney today, of which 106 were on the lower north shore.
The total number of Melbourne auctions held so far this year is 17 per cent higher than the same time last year, with 32,874 auctions held in the year to date, according to the REIV CEO Enzo Raimondo.
<div>
*An earlier report suggested the Neutral Bay property had been pulled from auction altogether.
</div>
</body></html>

Governor-General Peter Cosgrove leads the retreat with unsold offering amid saturated auction weekends

<html><body>
Governor-General Sir Peter Cosgrove and his wife, Lady Cosgrove, headline the weekend auction offerings with their Neutral Bay home listed following the couple's recent move to their official, vice-regal residences, nearby Admiralty House in Kirribilli and Government House in Canberra.
McGrath Estate Agents expect $2.1 million plus for the <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-neutral-bay-nsw-2089/240264" target="_blank">three-storey Spruson Street semi</a>.
They paid $1.95 million in 2007, two years after Sir Peter ended his term as the Defence Force chief.
"To be asked to sell the Governor-General's home, in this industry there's no greater honour," said the listing agent Piers van Hamberg, of McGrath Estate Agents.
Australian Property Monitors says Sydney will host 882 homes this weekend.
It is down on last weekend’s 943 but higher than the 767 conducted over the same weekend a year ago.
"Sydney is set to clearly smash the all-time monthly record for auctions this November with over 5,000 properties listed," Australian Property Monitors' senior economist Andrew Wilson said.
Sydney weekend auction market dropped last Saturday recording the lowest clearance rate since the first weekend of July. The initial 75.5% result was well down on the previous weekend’s strong 82.4% rate and also below the 83.7% recorded over the same weekend last year.
"High auctions numbers over the past month however may be impacting the local market with three out of the last five weekends below the 80% weekend benchmark," Wilson said.
 The four-weekend average clearance rate now stands at 79.5%, compared to 82% over the previous four-weekend period. This is the first time this spring the Sydney four-weekend average has dipped below 80%.
Sydney’s west was the leading suburban region last weekend with a strong 85.7% clearance rate. The south was next best with 82.3% with all other regions below 80% led by the inner west with 79.8% and Canterbury Bankstown and the northern beaches each with 75.7%. The city and east reported the lowest regional clearance rate at the weekend with 69.8%.  
The inner west will again host the most number of auctions this weekend with 139 followed by the upper north shore with 115, the south 114, the lower north 106, the city and east 100, the west 73, the northern beaches 54 and Canterbury-Bankstown with 53 auctions scheduled.
The most popular suburb for auctions this weekend in Sydney is again Mosman on the lower north shore with 18 auctions listed. Next highest is Castle Hill in the north west with 14 followed by St Ives on the upper north shore with 12, Leichhardt in the inner west with 10, Paddington in the city and east with nine and a number of suburbs with 8 auctions including Cremorne on the lower north shore, Dulwich Hill in the inner west, Hunters Hill on the lower north shore, Manly on the northern beaches and Killara on the upper north shore
</body></html>

Governor-General Peter Cosgrove leads Sydney weekend auctions

<html><body>
The Rose Bay property that was once headquarters of Jodhi Meares fashion label has been sold at Cooley auction.
It was originally a barn for the Rose Bay dairy­.
The four-bedroom, four-bathroom residence and office space at <a href="https://www.theagencyco.com/1807401/" target="_blank">5 Roberts Street</a> been listed with Daniel Baran and Reece Coleman at The Agency.
The first-floor features a large open plan living and dining area, kitchen with 5 metre-long stainless steel benchtop, indoor fish pond and ornate Balinese timber doors.
In 2006 its ground floor was transformed from a 16-car garage to modern offices with boardroom.
It was bought by the Otton family in 2006 for $2.35 million.
It had price expectations around $3.5 million.
No price has been revealed for the registered bidder only auction.
</body></html>

Rose Bay warehouse style offering snapped up

<html><body>
Hilton Worldwide intends putting its Sydney hotel on the market.
JLL has been appointed to sell the asset in 2015.
Price expectations are for well over $450 million as offshore interest surges for hotel assets in Australia.
It has 579 rooms at 488 George Street, opposite Sydney’s Queen ­Victoria Building.
Hilton Worldwide is a public company owned in part by private equity group Blackstone.
The newly refurbished Hilton has 23 meeting rooms, 4,000 square metre of food and beverage space and an 25 metre indoor pool.
Its lead restaurant is Luke Mangan's Glass.
</body></html>

Sydney Hilton for sale with price expectations in excess of $450 million

<html><body>
GUEST OBSERVATION
The Sydney market shows no signs of slowing down with vendors and buyers showing equal enthusiasm in the nation’s largest property market. Despite the increase in numbers of would-be vendors rushing to schedule a pre-Christmas auction, we are seeing a consistently high clearance rate week after week.
Notwithstanding one weekend failing to reach the magic 80% clearance rate, October continued with some strong individual results across all pockets of the city. Given these strong results it should also be largely unsurprising that the variance between real estate agents’ price guides and the eventual sales prices also remains significant with the trend of underquoting appearing to continue unabated. 
Intelligent Property Services (IPS) has reported for several months now on the consistent manner with which prospective buyers are being drawn to properties with enticingly low price guides and October has been no different.
With 32 auctions monitored the stats show an average variance of some 14.34%. Irrespective of the broad geographic spread in this month’s sample (Mosman to Canterbury) there were fairly similar results across the board. While slightly less than last month (we reported a 15.4% variance for September) some results simply demonstrate the depth of pent up demand across the Sydney market.
Whilst others may well simply suggest some creative price guides set by certain selling agents. One property that demonstrates this epidemic can be seen at 7/2-6 Patrick Street, North Willoughby. Despite a comparable unit selling in the block in 2013 for $860,000 it was listed with a price guide of $750,000, which was then revised to $790,000. With an eventual sale price of $980,000 – 19% variance on the agent’s original guide – it’s little wonder that buyers continue to experience frustration at every turn during their property search.
We suspect there’s no easy solution to this. Whilst Queensland may have banned the publication of auction price guides and some in NSW are calling for auction reserve prices to be published prior to auction in order to provide a more transparent process, we’re quite sure that Sydney buyers would welcome a bit more pricing accuracy from the very same sales agents who openly advertise the fact they’re the area “experts”.
Click to open in new window:
<a href="/images/2014/11/12/ramon-nov-12-one.jpg" target="_blank"><img src="/images/2014/11/12/ramon-nov-12-one.jpg" alt=""></a> 
In September we noted it should come as little surprise that the level of underquoting by sales agents has continued into the busy spring selling season. 
The results are fairly consistent from last month’s findings. In August IPS reported that the average variance between the quoted price and sales price at auction was 17.6%. For September 2014 we have monitored a total of 27 sales and found agents are underestimating their properties by an average of 15.14%. 
As always buyers need to factor this into their thinking and, ultimately, conduct their own research as to the likely market value of any property being considered for purchase. We see no particular trend from suburb to suburb (with auctions from Millers Point to Earlwood monitored) and sales agencies, both big and small, are all guilty – inadvertently or by design – of providing enticingly low price guides to prospective buyers. 
The biggest variation recorded this month was 42% under for a run-down warehouse at 164-166 Wilson Street, Newtown in Sydney’s inner west. Even towards the tail end of the sales campaign a price guide of $1 million plus was being given despite the property selling for $1,725,000.
Another prime example of unfairly building up buyers’ expectations was at 7/40 Terrace Road, Dulwich Hill. The price guide of “$420,000 plus” for a renovated two bedroom, one bathroom, one car strata apartment in popular Dulwich Hill was always going to attract the crowds. More than 92 people attended the first open house on Saturday and, by Tuesday the agent had received between 15 and 20 written offers from hopeful buyers. Current interest is reported to be around $530,000, which is more than 26% above the original guide.
It just goes to show, unfortunately for buyers, that this experience is not limited to the auction process alone.
With pent up buyer demand increasing off the back of abnormally low spring stock volumes, we expect this practice will continue to frustrate and confuse buyers making the entire buying process all the more challenging.
Ramon Mitchell is the general manager of <a href="https://www.ipsg.com.au" target="_blank">Intelligent Property Services</a>, a specialist residential property advisory firm with buyers advocacy division.
</body></html>

RamonMitchell-pSgrKyb4ZZ

Add 14% to Sydney spring auction price guidance: Intelligent Property Services

<html><body>
The Sydney PR queen Roxy Jacenko and her husband, Oliver Curtis, have sold their Woollahra residence for $8 million plus.
It was an offer too good to refuse since they bought the four-bedroom house for $6.6 million in 2011.
It was sold off-market by a former Kambala school friend estate agent, <a href="https://www.raywhite.com/diane-wilson/real-estate-agent/dw0905191055/" target="_blank">Diane Wilson</a>. 
The Edward Street family home was bought in March 2011 from the rag-trading Karpin family.
The then newly built house was on a 468 square metre block that cost $5.28 million in 2007. 
<div id="imageDataContainer">
<div id="imageData">
<div id="imageDetails">
The four-bedroom, four-bathroom family home (pictured above before makeover) has since been decorated by the society pages designer Blainey North.
</div>
</div>
</div>
No buying documents have yet appeared on title when Property Observer checked on Monday this week, with delayed settlement terms seemingly in place.
The AFR Rear Window column confirmed the sale. Property Observer understands around $8.25 million was secured.
Oliver is<a href="https://www.afr.com/p/national/banker_oliver_curtis_liked_the_easy_2jeiA3TdpdA2412zP8NXxJ" target="_blank"> </a>facing charges of insider trading, which after a recent delay, will be heard early next year.
Roxy has been telling friends she would like to have a single-storey Sydney home and possibly a Southern Highlands weekender.<a href="https://www.afr.com/p/markets/oliver_curtis_trial_delayed_5pduv5MI8qbjKPEDhsr2lJ" target="_blank"> </a>
The celebrity publicist Roxy Jacenko has recently spent $2.66 million to buy commercial offices in Paddington with the purchase of 7-13 Elizabeth Street, mooted as new headquarters.
</body></html>

Roxy Jacenko and Oliver Curtis sell Woollahra trophy home

<html><body>
As of today, Sydney’s median asking price has pushed past the $1 million benchmark. This figure looks at freestanding houses, which includes terraces but excludes townhouses.
In this morning's update, <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>’s Louis Christopher said that the median asking price for houses is now $1,005,800.
“Right now it would be impossible to purchase a free standing house in Sydney’s inner ring for under a million dollars, and will become increasingly difficult to purchase a free standing house in Sydney’s middle ring for under a million dollars," said Christopher. 
In July 2013 the median asking price moved into the $900,000 plus bracket.
The median asking price for a three bedroom home is not far behind having recently ticked over the $900,000 mark, with a clearly upwards trajectory.
The median asking price for units sits just below the $600,000 mark, having moved above $500,000 towards the end of 2012.
You can <a href="https://sqmresearch.com.au/graph_median_weeks.php?region=nsw%3A%3ASydney&amp;type=c&amp;t=1" target="_blank">see their full break down here</a>.
<a href="/images/2014/11/11/sqm-nov-11-one.png" target="_blank"><img src="/images/2014/11/11/sqm-nov-11-one.png" alt=""></a>
Source: SQM Research.
 
</body></html>

Sydney

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Sydney

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News