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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Undergraduate students from leading universities in Australia and New Zealand will have the opportunity to participate in a real estate case competition hosted by the University of Sydney Business School and sponsored by global property company, Savills Australia.
The University of Sydney Business School Real Estate Case Competition is based upon a real-world Australian real estate case, giving students the opportunity to put their knowledge into first-hand practice.
The university chooses the assignment by selecting a property asset in Sydney and tasks the teams with analysing an actual commercial real estate transaction, rendering a recommendation, and providing a presentation of their analysis and proposal.
The teams will consist of four to six students and will be judged through their presentations, analysis, approach to problems and knowledge of the given case by senior representatives from the property industry.
The winning team will receive guaranteed entry and an all-expenses paid trip (up to $25,000), to compete in the global invite only ‘Cornell International Real Estate Case Competition’ where teams are judged by leading experts in Real Estate.
According to Paul Craig, CEO of Savills Australia and New Zealand, who will be part of the judging panel, “This is an incredible opportunity for a high calibre of students to compete for an exciting grand prize and trip to New York.”
“But more importantly, it is a real life working example of what these students are going to be doing in their property careers.
"This practical application and hands on experience will help shape the next generation of property experts in Australia and New Zealand” he said.
“The mentoring the students will receive through the judging process will be invaluable to their future careers.”
The University of Sydney Business School Real Estate case competition will take place on Monday 25 September 2017 at The Abercrombie Building at the University of Sydney Business School in Sydney.
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j.ballantyne1990-6AQqhLzZaK

Students battle it out in real-world property competition

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A Planning Circular recently issued by the NSW Government outlining changes to the cap on local infrastructure contributions is likely to increase the cost of housing and exacerbate the housing affordability crisis. 
The Planning Circular issued on 27 July 2017 by the NSW Government outlines the removal of caps on local infrastructure levies in stages from January next year.
The current caps of $30,000 in greenfield areas and $20,000 in infill areas will increase by $5,000 each in three stages thereby adding $15,000 to the cost of each dwelling by 1 July 2019. After 1 July 2020 the caps will be removed entirely and local councils will be able to propose whatever charges they want.
Ironically these increases were initially announced by the State Government as part of the ‘Housing Affordability Strategy for NSW’ package released on 1 June 2017. Rather than reducing housing costs to help with affordability, the increases will simply be passed on to the purchasers of new homes.
Already some Urban Taskforce members have put a moratorium on acquiring new sites for development as the extra tax on their projects and uncertainty is making them financially unviable and risky. What is needed is more supply to help with affordability but the state government seems to be doing the opposite by adding even more levies to the cost of housing.
There are proposals to have IPART assess a council’s contribution plan and particularly to focus on Essential Infrastructure. Our concern is just how detailed the government’s instructions to IPART will be about what is essential and whether the proposed costs are reasonable. There will also be tests about reasonableness, nexus and apportionment to ensure an individual development only contributes fairly to infrastructure costs.
The February 2014 Practice Note on Local Development Contributions lists 7 criteria that will be used by IPART to evaluate contributions plans. Our concern is that the criteria do not include anything about the impact on housing affordability with the implication that IPART could approve $100,000 levies per lot if the essential works were reasonable.
With the government also encouraging high levies for affordable housing along with further levies for light rail projects it is hard to see how any new housing will not be far more expensive. The continual stacking of more levies onto new housing will either dramatically increase the cost of that housing or make new housing projects economically unviable so less housing is supplied.
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Former Governor of the Reserve Bank of Australia, Glenn Stevens, who issued a report to the NSW Government on housing affordability on 1 June 2017 raised concerns about the costs of local infrastructure and raised the question: ‘is the infrastructure being unnecessarily “gold plated”?’ 
The NSW Government needs to be very careful in removing the current caps on infrastructure levies if it wants to help with housing affordability and housing supply. The current indications from the industry are that either housing costs will escalate or housing projects will become unviable and not proceed. Neither outcome will be good for those wanting to purchase a new home.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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cjohnson-8xfqfuuCSq

Uncapped tax on new housing supply will make housing unaffordable

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The City of Sydney plans to relinquish or realign management of some of its property portfolio to deliver more affordable housing across the inner city and boost Oxford Street as a major business destination.
A report to be considered by Council recommends the City place several surplus operational and commercial properties on the market in 2017–2018.
This will result in more affordable housing units across the inner city and enable the City to meet the objectives in its 10-year capital works plan.
A second report recommends the City appoint a commercial partner to reposition three strategically located commercial Oxford Street properties for long-term lease.
The reports come with the impending closure of three City depots at Zetland, Redfern and Alexandria in conjunction with the opening of a new major southern depot at Alexandra Canal.
Operational properties proposed to be placed on the market include:
<ul>
<li>94–106 Epsom Rd, Zetland (Epsom Road Depot)</li>
<li>11 Gibbons Street, Redfern (Redfern Depot)</li>
<li>36 Gerard Street, Alexandria (Alexandria Depot).</li>
</ul>
If the report is adopted, the City will enter negotiations with affordable housing providers for the sale of the Redfern depot site, with the potential for more than 100 affordable housing units.
Commercial properties to be placed on the market include:
<ul>
<li>Stockton House, 73–75 William Street, East Sydney</li>
<li>545–549 South Dowling Street, Moore Park</li>
<li>90 Regent Street, Redfern.</li>
</ul>
Lord Mayor Clover Moore said commercial property was a major revenue stream, elevating the City to a strong, debt-free financial position.
“The strategic management of our property portfolio has enabled the City to provide some of the best parks, public spaces, facilities, infrastructure, events and services of any local government area in Australia,” the Lord Mayor said.
“The sale of surplus operational and commercial land will enable us to further invest in our City’s future, while helping to provide affordable housing in Redfern, which is so urgently needed now.
“Our commercial property portfolio generates more than $63 million of rental revenue each year.
"We’re looking to increase that revenue further to help meet the demands of our booming population.
“The Redfern depot has been earmarked as an appropriate affordable housing site for some time.
"The sale of this property will provide more housing options for key workers such as teachers, nurses, police, firefighters and social workers.”
Proceeds from the sale of 545–549 South Dowling Street will be set aside in the community properties reserve, given the building’s origins as a community activity centre.
The proposal to identify a partner for a long-term lease on three Oxford Street properties comes following two unsolicited proposals in late 2016.
The properties – located at 56–76 Oxford Street, 82–106 Oxford Street and 110–122 Oxford Street (both above) – have a combined lettable area of more than 12,000 square metres.
“These properties are in a strategic location and have enormous potential, but they need significant capital investment that would place a huge strain on the City’s financial resources,” the Lord Mayor said.
“We have a great opportunity to explore alternative opportunities with the private sector and secure a long-term lease, similar to the arrangement we have with the QVB and the Capitol Theatre.
“Late last year, we received two unsolicited offers on this site and we are keen to explore these options and look at ways to further revitalise Oxford Street.
“The realignment of these properties could prove to be the catalyst for the transformation of Oxford Street.
“Oxford Street isn’t the CBD or a suburban shopping centre. It’s been home to an eclectic mix of unique and independent operators for decades.
"Although it needs a financial boost, it must maintain its authenticity.
“We’ve made great strides with our Oxford Street creative spaces program, where 22 cultural and creative businesses pay low rent to use our properties.
"A key objective of this report is to integrate these cultural spaces into a future redevelopment.
“We want to find a commercial partner that shares our vision for a modern Oxford Street, harnessing all the positive elements of the retail strip’s past and revitalising these spaces for an even brighter future.”
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Sydney Council to offload three depots amid big property selloff

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The residential property market in Sydney continues to surge, property valuation firm HTW recently noted.
It was being driven by lack of stock, record low interest rates, strong population growth, continued strong presence of overseas buyers, tax incentives, positive market sentiment/ speculation and re-invest using equity build up from previous years property market growth, according to the recent Herron Todd White report.
"Australians’ confidence in property as a good place to invest has reached a three year high according to a recent NAB survey,” the report noted.
Herron Todd White says that there was a lack of supply versus demand in Sydney which was driving prices up.
It noted the demand versus supply issue in Sydney was highlighted in the data provided by CoreLogic.
Sydney has a population in excess of 4.6 million but with total listings of around 20,636 properties, only slightly greater than Brisbane at 19,043 listings but less than Perth at 21,377 listings and a population of near 1.9 million.
As a comparison, Melbourne with a more comparable population of 4.2 million has a total of around 28,305 properties listed for sale.
"We consider that the lack of supply is the main driver in the escalation of prices in the greater Sydney market.
"The Sydney prestige property market, generally considered to be properties above $3 million, has continued its strong performance into 2017.
"Factors which have been driving the prestige market include a limited supply of quality stock coming on to the market and a sustained period of high auction clearance rates in prestige suburbs.
"High net wealth (HNW) purchasers, both local and international, continue to be attracted to the Sydney market, with a recent Domain article quoting Lord Andrew Hay, global head of residential at Knight Frank, that globally “Sydney is in 11th position in terms of most desirable cities for HNWs to live and invest in”,” the report commented.
Nine Sydney suburbs have a median price of $3 million while foreign buyers will face increased stamp duty and land tax surcharges Herron Todd White says.
“As per CoreLogic data there are currently nine suburbs in Sydney with a median price in excess of $3 million being on both sides of the harbour within a short commuting distance of the CBD.
"Bellevue Hill in Sydney’s east has had a total of 70 dwelling sales in the past 12 months with a median price as at April 2017 of $4.777 million, a further indication of the strong demand levels for prestige property.
"Despite tighter rules around foreign buyers purchasing property in New South Wales and increased stamp duty and land tax surcharges on foreign purchasers, foreign investment into the prestige market remains strong, particularly from Asia.
"Further regulatory or taxation changes, either here or in Asia, would be the most likely cause for the prestige market to slow in the near future,” the report advised.
Herron Todd White comments that with the property market running hot in recent years, some Sydney homes are earning more than their owners with the price of a house increasing by more money each day than most workers earn in a week.
"The CoreLogic data reveals house values in Clovelly (eastern suburbs) had the largest daily gains over the past year at $1,931 per day, followed by Manly (lower north shore) at $1,808 per day.
"Worryingly though, growth in wages has not kept pace with house price increases which have seen borrowers continuously tapping into the equity in their homes or investment properties to further use towards additional investment properties,” the report warned.
New developments in many of the areas are also driving prices up Herron Todd White says.
“Throughout greater Sydney another factor that has been driving the market is government infrastructure spending.
"The suburb of Frenchs Forest in the northern beaches region has been a strong performer over the past few years thanks in part to the construction of the much anticipated Northern Beaches Hospital and surrounding infrastructure.
"This investment in the area has driven up demand for housing with strong sales occurring.
"The median value for dwellings in this suburb is currently $1.515 million.
"In March 2014 it was $966,500 representing approximately 60% growth (source: Corelogic).
"Suburbs along the under construction North West rail link have outperformed surrounding suburbs over the past few years mostly due to this substantial investment.
"Suburbs such as Cherrybrook, Castle Hill and out to Rouse Hill have all benefited from the higher level of demand from purchasers looking to be located near solid transport hubs.
"This is shown by Cherrybrook’s change in median price of 88% over the past five years to be currently sitting at $1.43 million,” the report commented.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cherrybrook-124986766" target="_blank">18 Woodcrest Place</a>, Cherrybrook (above) has been listed for between $1.25 million to $1.3 million.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cherrybrook-125306498" target="_blank">29 Beechwood Parade</a>, Cherrybrook (below) has been listed with a price guide of $1.35 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/29%20Beechwood%20Parade.jpg" alt="">
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-cherrybrook-125270566" target="_blank">9 Acer Court</a>, Cherrybrook (below) was recently sold for $1.49 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/9%20Acer%20Court.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-cherrybrook-125390126" target="_blank">16 Elderberry Place</a>, Cherrybrook (below) was recently sold for $1.43 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/16%20Elderberry%20Place.jpg" alt="">
“For units, suburbs such as Mosman and Cremorne on Sydney’s lower north shore have remained strong for a number of years.
"Local agents have identified a sweet spot for 2-bedroom units of between $900,000 and $1.2 million.
"This will get you a larger, older style unit appealing to a wider market segment. This price bracket is well suited to a professional couple wanting a low maintenance unit within close proximity of the city.
"In addition this sweet spot is in line with the borrowing capabilities of a professional couple.
"In the western suburbs of Sydney we have seen strong interest in house and land packages in brand new estates.
"We note land in Austral starts from $360,000 and a 3-bedroom house and land package from $615,000.
"Although situated some 55 kilometres south-west of the CBD, this once semi-rural location is popular with young families wanting detached housing and a yard as well as future growth prospects and the low entry point compared to the average price of over $1 million,” the report stated.
Herron Todd White says that the Sydney property market is significantly outperforming every other localities, which could be the result of traditional factors.
“The Sydney property market has been significantly outperforming the rest of the Australian economy over recent years which we believe implies that it has not been affected by many traditional factors which restrict strong economic growth.
"It is difficult to say what it will take for the Sydney market to change course however many believe that it is nearing its peak of the cycle from an affordability point of view.
"A rise in interest rates of course would have a significant effect on the market however a rise in the official cash rate has not been hinted at by the RBA and it is assumed that this would only rise once the economy appears to be strengthening with inflation reaching targets.
"If interest rates did rise however, this would put a lot of pressure on highly geared investors and mortgagors.
"With rates of household debt at record levels, this could have a substantial effect on the property market.
"According to a recent RBA publication on household finances, average debts are now 89% greater than incomes, up from 67% four years ago.
"An anonymous survey by investment bank UBS revealed that 28% of people surveyed said their mortgage application was not totally factually accurate.
"This is another worrying sign that people are pushing the boundaries to get a foot on the property ladder and even a small increase in interest rates could severely affect the ability of these homeowners to keep up with mortgage repayments.
"Aside from interest rates, another factor which could force the market out of its current growth cycle extends to overseas buyers.
"Sydney continues to attract high levels of foreign investment with foreign buyers, mainly Chinese, making up 25% of all purchases of new dwellings in New South Wales over the past year according to a report by Credit Suisse.
"Any changes to regulations in China or in Australia which would restrict this wave of investment would surely have an influence on the Sydney market in particular,” the report commented.
Media plays a strong part in Sydney property markets Herron Todd White says.
“Many believe the media to have a very strong influence on the Sydney property market in general.
"This was shown at the end of 2015 and beginning of 2016 where a wave of negative media reports appeared to stunt the market for a short period of time.
"When potential property purchasers start believing there is a bubble, they will put off purchasing.
"This hit to the demand side would mean those who need to sell may have to do so at a discount.
"When the buying public starts to see properties selling at a discount then it strengthens the belief that the market has peaked or the bubble has burst.
"It is believed therefore that with any potential negative factor to hit the housing market, the media also has the power to exacerbate any consequences,” the report commented.
It is possible to curb Sydney’s heated market by initiating various ideas according to Herron Todd White.
“New South Wales government policy changes or changes to regulations on a state or national level also have the power to curb the heated market.
"Within the federal budget to be released on 9 May, plans are being drawn up to announce measures to tackle housing affordability. It is believed that these will mainly tackle the supply side of the market rather than the demand with the likes of new land releases etc.
"However any future changes to tax incentives such as negative gearing would have more influence on the market.
"Rental yields in Sydney are considered low however investor lending remains relatively high.
"If changes to negative gearing were put in place then housing as an investment in Sydney could suddenly look less attractive to a portion of the market.
"This would have an impact on the demand side of the market as investor lending is currently considered too strong.
"The issue here however is that any changes to federal taxation rules will also affect under performing areas outside of the strong markets in Sydney and Melbourne and that may influence the federal government’s decision.
"Policies in other countries show that it is possible to make changes that will have a considerable effect on housing markets.
"Policies currently trialed in Australia have so far failed to cool the Sydney market.
"These policies include an anti-tipping duty of 12% when property in Singapore is sold after less than one year; Hong Kong has a 30% transaction tax for foreign buyers and taxes on Taiwanese property sales can reach as high as 45%.
"In 2016, changes were made in Auckland which included a requirement of a 40% deposit from investors which appears to have slowed the also booming market.
"An increase in property taxes in British Columbia in 2016 also halted the runaway property market in Vancouver which was also heavily influenced by overseas buyers.
"Obviously all changes described are more severe than those implemented in the Australian markets such as the APRA restrictions on investment loans and tax surcharges on foreign buyers, which have so far been to no avail,” the report stated.
However Herron Todd White says that there are also other factors that could affect the property.
“Other factors with the ability to affect the Sydney property market include a stock market crash, major economic downturn or a significant decrease in projected population growth in the city.
"The risk of any of these currently looks relatively low,” the report advised.
</body></html>

Lack of supply the main Sydney property market price driver: HTW

<html><body>
Over the past 12 to 24 months, the entry-level Sydney CBD, CBD fringe and secondary office markets have experienced significant capital and rental growth amid a strong rental environment and low vacancy due to a number of factors, say valuation firm Herron Todd White in their latest office market review.
The withdrawal of office space for alternative uses or redevelopment, including Goldfields House at 1 Alfred Street, Fairfax House at 19 Pitt Street and the Department of Lands building at 23-33 Bridge Street has not been counterbalanced by entry-level gross supply within the Sydney CBD. 
Further, the construction of the Sydney Metro and residential redevelopments will place further pressure on supply and office rents in the Sydney CBD, adds HTW.
Secondary office precincts in areas such as the northern beaches suburbs of Belrose, Warriewood and Brookvale, together with CBD fringe precincts including Surry Hills, Ultimo and Pyrmont, have only recently shown signs of coming out of a long GFC-impacted period of subdued growth with values only recently matching those last seen in 2007. 
The entry level market in the CBD is generally characterised by smaller (10 to 75 square metres) strata title office stock within B and C grade office complexes such as 147 King Street and 368 Sussex Street with prices ranging from $200,000 (less than 100 square metres) to $500,000, reflecting market yields in the range of 5% to 7%, says HTW.
An example of such a sale was a commercial suite in Quay West, <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502341138" target="_blank">111 Harrington Street</a>, that recently sold for $330,000 through Noonan Property, Corelogic RP Data shows.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/HTWJulySyd1.jpg" alt="">
Similar office stock in secondary locations such as Belrose and Brookvale tends to sell in the $200,000 to $400,000 bracket reflecting yields in the range of 5.5% to 7.5%. 
“Belrose is an example of a suburb that had been significantly impacted by a pre-GFC glut of stock leading to oversupply with resultant subdued growth in capital values and market rents and high levels of vacancy,” said HTW.
Recently, an <a href="https://www.realcommercial.com.au/property-offices-nsw-belrose-502366902" target="_blank">office space</a> in Belrose changed hands for $220,000 through LJ Hooker.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/HTWSydBelrose.jpg" alt="">
The entry-level market is generally characterised by owner occupiers and sitting tenant purchasers driven by the low interest rate environment in which the cost of finance compares favourably with market rents, mum and dad investors looking for 5% plus yields in an environment where alternative property investments with sufficiently positive yield profiles are few and far between and superannuation fund investors. 
The strong residential market has added further fuel to the fire in providing significant equity to invest. 
To counterbalance this, the main threats to continued growth in entry-level office markets would include rising interest rates, a general downturn in the economy negatively impacting affordability and confidence and a reversal in Sydney’s residential property market. 
“Many commentators are reflecting that we are at the peak of the current property cycle, though time will tell,” conclude HTW.
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney entry-level office market shows solid growth trend: HTW

<html><body>
A small, neat and affordable office suite Sydney’s Pitt Street has recently been leased.
The office space, <a href="https://www.commercialpropertyguide.com.au/property/254341/leased/suite-502-250-pitt-street/sydney-nsw-2000/offices/" target="_blank">Suite 502/250 Pitt Street</a>, was last advertised for rent for $260 per week plus GST, according to CoreLogic RP Data.
The open plan office has a floor area of nearly 18 sqm, has timber floors and a high ceiling.
The leasing agents were First National’s Simon Boroudjani and Narek Alayan.
The property changed hands in May this year for $310,000, Corelogic RP Data showed.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/26/PittSt2.jpg" alt="">
</body></html>

Small, affordable office suite in central Sydney leases in quick time

<html><body>
Generalised commentary masquerading as analysis is the curse of the real estate consumer.
Much of what appears in mainstream media about residential real estate discusses Australia as a single market. That’s an early clue for consumers that the commentator has shallow knowledge.
If you’re reading something from an alleged expert and they’re talking about what’s happening with “the Australian property market” or forecasting trends with “Australian housing prices”, turn the page because you’ve tuned into a charlatan.
Too much has been written about “the Australian property boom” and “the national affordability crisis”.
A core problem is that so much of the commentary comes out of the Sydney and the situation in our biggest city dominates the thinking and attitudes of commentators. We have outcry about a national problem that generally does not exist and “solutions” that will slug the whole nation to fix issues isolated to a small section of the national geography.
The 20 million Australians who don’t live in Sydney must wonder what the fuss is about. Any resident of Perth, Adelaide or Darwin would be bemused by the ongoing debate about soaring prices, affordability catastrophes and the need for major national action.
Many of the worst culprits for generalised and usually misinformed commentary are based overseas. Often they’re major international organisations or ratings agencies which seek to manufacture publicity by making dire warnings about Australian real estate based on generalised national statistics pumped up by the strength of the Sydney market.
There are plenty of local pontificators making the same mistake, most of them economists who should never be consulted for comment on residential real estate, a subject that’s not within their area of expertise, if indeed they have one.
Anyone who thinks Australian has had a national property boom recently should compare the price growth statistics for the capital cities in 2016 with the results in 2002 and 2003.
Back in 2002/2003, the last time we had a genuine nationwide boom, every capital city had sharply rising prices. In 2003, according to the ABS, house prices grew at least 13 percent in every one of the eight capital cities, including four where prices rose by more than 20 percent.
The ABS figures for last year have a very different look about them.  Only Melbourne and Sydney managed double-digit growth and only just. Two cities, Perth and Darwin, recorded falling prices, while Brisbane, Canberra and Adelaide managed only moderate (4 or 5 percent) rises. Hobart rose 8 percent, according to these numbers.
When you compare this with that genuine boom at the start of the century, it’s apparent that even Sydney’s growth was tame compared with back then. Melbourne, meanwhile, has mostly been below 10 percent with its annual house price growth in the past four years, only recently bursting out into double digits (and now leads the nation, according to most sources).
Now the growing chorus among the generalised pontificators is that “the Australian property boom is over”.
If they’re talking about Sydney, they’re probably right. But out there in the heartland beyond the biggest cities, different things are happening, including places where markets are rising, even as Sydney is subsiding.
They include regional New South Wales, which now has far more rising markets than Sydney does.
The same is true of regional Queensland, which has many ascendant markets (as well as a few that you might still want to avoid), much more so than Brisbane at the moment.
Melbourne is less advanced than Sydney in its growth cycle, so has more time to run with price growth than Sydney does.
Both Hobart and Canberra have sparked to life recently on the back of improving local economies and are likely to continue heading in the opposite direction to Sydney.
Adelaide’s market is quite busy but is unlikely to deliver strong price growth, other than in selected pockets, because it lacks the economic and population growth impetus of other major cities.
Perth has been going backwards throughout the four years that Sydney has been advancing – and now, as Sydney fades, Perth is showing the early signs of recovery.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
</body></html>

terryryder-YECXbqmri2

As Sydney fades, Perth shows early signs of recovery: Hotspotting's Terry Ryder

<html><body>
Sydney’s housing market is showing signs of a controlled slowdown, according to CoreLogic’s latest July update.
The property data firm says that clearance rates are trending lower and time on market is starting to edge upwards.
For more information see the video below:
<iframe src="https://www.youtube.com/embed/p3ABSDStcnc" frameborder="0" width="450" height="253"></iframe>
</body></html>

tlawless-5VLUrbAk9s

Sydney housing market's controlled slowdown update: Tim Lawless

<html><body>
Australia’s cosmopolitan hub continues to boom with price growth increasing yet again this quarter, according to Domain’s latest State of the Market report.
The median house price is now sitting just under $1.2 million, with the unit median almost breaking $760,000.
Sydney’s house price growth is showing signs of ease, with June’s results half of the rates recorded in 2016.
<a href="https://www.propertyobserver.com.au/images/2017/07/20/Screen%20Shot%202017-07-20%20at%2010.21.12%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/20/Screen%20Shot%202017-07-20%20at%2010.21.12%20am.jpg" alt="">
While this may be welcome news for buyers seeking a house, the increasing growth of unit prices indicates it’s a strong seller market.
There is a range of property prices across the vibrant city’s suburbs, but what you can buy in the city comes down to lifestyle and individual needs.
If strong price growth is something you’re looking for, Sydney remains the capital of choice.
<table style="width: 451px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="93">
Houses
</td>
<td valign="top" width="65">
Jun 2017
</td>
<td valign="top" width="67">
Mar 2017
</td>
<td valign="top" width="65">
Jun 2016
</td>
<td valign="top" width="81">
Quarter-on-quarter
</td>
<td valign="top" width="80">
Year-on-year
</td>
</tr>
<tr>
<td valign="top" width="93">
Albury
</td>
<td valign="top" width="65">
$299,225
</td>
<td valign="top" width="67">
$330,000
</td>
<td valign="top" width="65">
$312,250
</td>
<td valign="top" width="81">
-9.3%
</td>
<td valign="top" width="80">
-4.2%
</td>
</tr>
<tr>
<td valign="top" width="93">
Armidale Dumaresq
</td>
<td valign="top" width="65">
$352,500
</td>
<td valign="top" width="67">
$328,000
</td>
<td valign="top" width="65">
$361,250
</td>
<td valign="top" width="81">
7.5%
</td>
<td valign="top" width="80">
-2.4%
</td>
</tr>
<tr>
<td valign="top" width="93">
Ballina
</td>
<td valign="top" width="65">
$597,500
</td>
<td valign="top" width="67">
$545,000
</td>
<td valign="top" width="65">
$527,000
</td>
<td valign="top" width="81">
9.6%
</td>
<td valign="top" width="80">
13.4%
</td>
</tr>
<tr>
<td valign="top" width="93">
Bathurst
</td>
<td valign="top" width="65">
$417,000
</td>
<td valign="top" width="67">
$410,000
</td>
<td valign="top" width="65">
$385,000
</td>
<td valign="top" width="81">
1.7%
</td>
<td valign="top" width="80">
8.3%
</td>
</tr>
<tr>
<td valign="top" width="93">
Byron
</td>
<td valign="top" width="65">
$910,000
</td>
<td valign="top" width="67">
$850,000
</td>
<td valign="top" width="65">
$704,250
</td>
<td valign="top" width="81">
7.1%
</td>
<td valign="top" width="80">
29.2%
</td>
</tr>
<tr>
<td valign="top" width="93">
Clarence Valley
</td>
<td valign="top" width="65">
$360,000
</td>
<td valign="top" width="67">
$369,000
</td>
<td valign="top" width="65">
$330,000
</td>
<td valign="top" width="81">
-2.4%
</td>
<td valign="top" width="80">
9.1%
</td>
</tr>
<tr>
<td valign="top" width="93">
Coffs Harbour
</td>
<td valign="top" width="65">
$486,500
</td>
<td valign="top" width="67">
$453,500
</td>
<td valign="top" width="65">
$432,500
</td>
<td valign="top" width="81">
7.3%
</td>
<td valign="top" width="80">
12.5%
</td>
</tr>
<tr>
<td valign="top" width="93">
Dubbo
</td>
<td valign="top" width="65">
$337,750
</td>
<td valign="top" width="67">
$367,000
</td>
<td valign="top" width="65">
$345,000
</td>
<td valign="top" width="81">
-8%
</td>
<td valign="top" width="80">
-2.1%
</td>
</tr>
<tr>
<td valign="top" width="93">
Eurobodalla
</td>
<td valign="top" width="65">
$445,000
</td>
<td valign="top" width="67">
$438,000
</td>
<td valign="top" width="65">
$392,250
</td>
<td valign="top" width="81">
1.6%
</td>
<td valign="top" width="80">
13.4%
</td>
</tr>
<tr>
<td valign="top" width="93">
Great Lakes
</td>
<td valign="top" width="65">
$485,000
</td>
<td valign="top" width="67">
$514,000
</td>
<td valign="top" width="65">
$441,250
</td>
<td valign="top" width="81">
-5.6%
</td>
<td valign="top" width="80">
9.9%
</td>
</tr>
<tr>
<td valign="top" width="93">
Lismore
</td>
<td valign="top" width="65">
$372,000
</td>
<td valign="top" width="67">
$349,500
</td>
<td valign="top" width="65">
$350,000
</td>
<td valign="top" width="81">
6.4%
</td>
<td valign="top" width="80">
6.3%
</td>
</tr>
<tr>
<td valign="top" width="93">
Newcastle
</td>
<td valign="top" width="65">
$620,000
</td>
<td valign="top" width="67">
$565,000
</td>
<td valign="top" width="65">
$502,000
</td>
<td valign="top" width="81">
9.7%
</td>
<td valign="top" width="80">
23.5%
</td>
</tr>
<tr>
<td valign="top" width="93">
Orange
</td>
<td valign="top" width="65">
$370,000
</td>
<td valign="top" width="67">
$345,000
</td>
<td valign="top" width="65">
$331,000
</td>
<td valign="top" width="81">
7.2%
</td>
<td valign="top" width="80">
11.8%
</td>
</tr>
<tr>
<td valign="top" width="93">
Port Macquarie-Hastings
</td>
<td valign="top" width="65">
$499,000
</td>
<td valign="top" width="67">
$505,500
</td>
<td valign="top" width="65">
$465,000
</td>
<td valign="top" width="81">
-1.3%
</td>
<td valign="top" width="80">
7.3%
</td>
</tr>
<tr>
<td valign="top" width="93">
Richmond Valley
</td>
<td valign="top" width="65">
$265,500
</td>
<td valign="top" width="67">
$318,000
</td>
<td valign="top" width="65">
$253,500
</td>
<td valign="top" width="81">
-16.5%
</td>
<td valign="top" width="80">
4.7%
</td>
</tr>
<tr>
<td valign="top" width="93">
Shellharbour
</td>
<td valign="top" width="65">
$645,000
</td>
<td valign="top" width="67">
$605,000
</td>
<td valign="top" width="65">
$550,000
</td>
<td valign="top" width="81">
6.6%
</td>
<td valign="top" width="80">
17.3%
</td>
</tr>
<tr>
<td valign="top" width="93">
Shoalhaven
</td>
<td valign="top" width="65">
$537,000
</td>
<td valign="top" width="67">
$525,000
</td>
<td valign="top" width="65">
$456,000
</td>
<td valign="top" width="81">
2.3%
</td>
<td valign="top" width="80">
17.8%
</td>
</tr>
<tr>
<td valign="top" width="93">
Tamworth Regional
</td>
<td valign="top" width="65">
$332,000
</td>
<td valign="top" width="67">
$325,000
</td>
<td valign="top" width="65">
$325,000
</td>
<td valign="top" width="81">
2.2%
</td>
<td valign="top" width="80">
2.2%
</td>
</tr>
<tr>
<td valign="top" width="93">
Tweed
</td>
<td valign="top" width="65">
$580,000
</td>
<td valign="top" width="67">
$565,000
</td>
<td valign="top" width="65">
$507,500
</td>
<td valign="top" width="81">
2.7%
</td>
<td valign="top" width="80">
14.3%
</td>
</tr>
<tr>
<td valign="top" width="93">
Wagga Wagga
</td>
<td valign="top" width="65">
$342,000
</td>
<td valign="top" width="67">
$340,000
</td>
<td valign="top" width="65">
$337,250
</td>
<td valign="top" width="81">
0.6%
</td>
<td valign="top" width="80">
1.4%
</td>
</tr>
<tr>
<td valign="top" width="93">
Wingecarribee
</td>
<td valign="top" width="65">
$800,000
</td>
<td valign="top" width="67">
$780,000
</td>
<td valign="top" width="65">
$675,000
</td>
<td valign="top" width="81">
2.6%
</td>
<td valign="top" width="80">
18.5%
</td>
</tr>
<tr>
<td valign="top" width="93">
Wollongong
</td>
<td valign="top" width="65">
$760,000
</td>
<td valign="top" width="67">
$719,250
</td>
<td valign="top" width="65">
$640,000
</td>
<td valign="top" width="81">
5.7%
</td>
<td valign="top" width="80">
18.8%
</td>
</tr>
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Sydney's property price growth continues to rise

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Sydney still has the latest selling units among the capital city markets.
But Melbourne and Canberra are neck and neck in the quickest selling houses, according to CoreLogic’s latest report.
The property data firm says that the average time that a unit in Sydney stays on the market is 30 days.
Melbourne and Canberra houses are selling in 29 days in the private treaty market.
<a href="https://www.propertyobserver.com.au/images/2017/07/12/Screen%20Shot%202017-07-12%20at%2010.34.26%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/12/Screen%20Shot%202017-07-12%20at%2010.34.26%20am.jpg" alt="">
Darwin and Perth are the two capitals where properties take the longest time to sell.
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