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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

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

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

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

WM Residences fills gap in Mordialloc townhouse market

Sydney

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The decision to revalue properties on the Kings Cross strip have been welcomed by real estate agency Gunning.
The decision by the Valuer General to step in and respond to a change of market conditions was the right move, said Gunning principal Malcolm Gunning. 
"NSW Valuer General Simon Gilkes took advice on the changing retail conditions due to the lockout laws and revisited the land values in the area based on their effect," Gunning said.
The lockout laws restrict the entry of patrons after 1.30 am and have affected property values in the area, according to a report by the Valuer General.
"He also recognised that the area is rapidly changing with the two major residential developments, at the site of the Crest Hotel and the Bourbon Hotel," added Gunning.
"It is great to see that Gilkes understands the property market and is willing to seek and ultimately take advice from industry experts in the form of the Land Valuation Advisory Group." 
"His decision clearly reflects the current state of affairs on the Kings Cross strip and recognises that valuations can move in either direction. This is a great win for the Kings Cross strip and NSW."
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Revaluation of properties in Sydney's Kings Cross due to lockout laws welcomed

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New Planning Panels headed by District Commissioners will streamline regionally significant planning across Sydney, according to the Greater Sydney Commission. 
The independent panels will start operating on 21 November 2016 and will replace the existing Sydney East Joint Regional Planning Panel and the Sydney West Joint Regional Planning Panel. 
Greater Sydney Commission CEO Sarah Hill said the District Commissioners are already listening to stakeholders and residents to shape the future vision for their districts. 
“District Commissioners, who understand the strategic vision for their respective districts, will chair the new panels,” she said. 
“We have been talking to stakeholders from day one and are about to launch an unprecedented level of community engagement.” 
“This means when the District Commissioners start chairing the panels in November they will know their area, the people and the over-arching vision for that district.” 
She said the panels aimed to improve decision making time frames for assessing regionally significant planning applications. 
“We are also aiming to reduce pre-gateway or rezoning review timeframes to less than 90 days for 85 percent of requests,” she said. 
The Sydney Planning Panels will take on responsibility for a number of key planning approval activities including determining regionally significant development applications (generally development with a capital investment value of more than $20M) and considering pre-gateway (rezoning) reviews, allowing requests for reviews of council decisions or lack of decisions within 90 days. 
Six Sydney Planning Panels will be established, with one panel for each District 
Each will be led by a District Commissioner and have four expert members with strategic and statutory planning expertise. Two representatives will be appointed by the Council and two will be Government appointments.
Frequently Asked Questions
This FAQ answers questions regarding the commencement of the Greater Sydney Commission’s Sydney Planning Panels and the process of transition from the existing Joint Regional Planning Panels by 21 November 2016.
What are the Sydney Planning Panels, what is their geographic remit and function?
The Greater Sydney Commission Act 2015 (the GSC Act) commenced on 27 January 2016. The GSC Act enables the Minister for Planning to create Sydney Planning Panels. A Sydney Planning Panel is taken to be a Joint Regional Planning Panel (JRPP) under the Environmental Planning and Assessment Act, 1979 (the EP&amp;A Act).
Sydney Planning Panels will be established to replace the existing Sydney East JRPP and the Sydney West JRPP.
The Sydney Planning Panels will determine regionally significant development applications (generally development with a capital investment value of more than $20M) within the Greater Sydney Region (as defined in the GSC Act); and consider pre-Gateway (rezoning) reviews, through which proponents can request a review if a council decides not to support a rezoning request or doesn’t make a determination within 90 days.
These are the same functions as the current Joint Regional Planning Panels.
The City of Sydney will continue to be excluded from the operation of the Sydney Planning Panels for the consideration of development matters. The Central Sydney Planning Committee will continue to operate as normal. Pre-gateway (rezoning) reviews for the City of Sydney will continue to be undertaken by the Planning and Assessment Commission.
When will the Sydney Planning Panels commence?
The Sydney Planning Panels will commence on Monday 21 November 2016. Until then the existing Sydney East JRPP and the Sydney West JRPP will continue to operate.
Starting the Sydney Planning Panels in November 2016 will allow the Commission and specifically the Commissioners, to focus initially on the important strategic work of developing the draft District Plans for exhibition. It allows time for a smooth transition with minimal disruption to operations and decisions.
Who will be the members of the Sydney Planning Panels?
The Sydney Planning Panels will comprise of five members:
A Greater Sydney Commission District Commissioner – the Chair
Two state appointed representatives
Two council appointed representatives
How many Sydney Planning Panels will there be?
Six Sydney Planning Panels will be established, one for each district in Greater Sydney.
The boundaries for the Sydney Planning Panels will reflect the district boundaries declared under the EP&amp;A Act.
The relevant District Commissioner will chair the Sydney Planning Panel for their district. As with the JRPPs the council appointed representatives for the relevant local government area will sit on the relevant Sydney Planning Panel when considering matters in their local government area.
The new members of the Sydney Planning Panels will be announced by the end of June 2016.
Why have more than two Sydney Planning Panels?
A key outcome of establishment of Sydney Planning Panels is to improve the timeframes for the determination of development applications and pre-gateway (rezoning) reviews. Creating six panels evens the workload across Sydney allowing for faster decisions.
District Commissioners will continue to build relationships with the councils within their District and build strong ties that will help councils to assess development matters in a more effective and efficient manner.
What role will the draft District Plans play in consideration of local plans by the Sydney Planning Panels?
The draft District Plans are currently being developed and will be exhibited by no later than January 2017.
The draft District Plans will be a matter the Sydney Planning Panels must take into consideration when reviewing local environmental plans and considering pre- Gateway (rezoning) review requests, as part of the strategic basis for future land use outcomes.
What happens if I have a matter with the Joint Regional Planning Panel and it has not been finalised?
Any development application or pre-Gateway (rezoning) review that was lodged but has not been determined by 21 November 2016 will be determined by the relevant Sydney Planning Panel.
If a JRPP has been appointed as the relevant planning authority for a rezoning prior to 21 November 2016 that function will transition to the relevant Sydney Planning Panel.
What is the role of the Department of Planning and Environment (Department) with the Sydney Planning Panels and planning proposals?
The Department will continue to provide the same level of secretariat support for the new Sydney Planning Panels.
The Department will continue to review planning proposals, issue Gateway determinations and make LEPs as a delegate of the Greater Sydney Commission until advised otherwise.
The existing plan making delegations to local government remain in place.
How will the Sydney Planning Panels improve procedures and outcomes?
The new approach of six Sydney Planning Panels will aim to improve determination time frames by at least 10% within 12 months of establishing the Sydney Planning Panels, and reduce pre-gateway (rezoning) review timeframes to less than 90 days for 85% of requests.
The Greater Sydney Commission will monitor the functions of the Department of Planning and Environment as their delegate and will review the efficiency of process and effectiveness of outcomes regularly.
The Government is committed to the smooth transition from the JRPPs to the Sydney Planning Panels and the new Panels will be supported throughout their establishment and during the transition to minimise any disruption to important development and rezoning decisions.
When will the review of the pre-Gateway (rezoning) review process be finalised?
The Department of Planning and Environment has recently undertaken a review of the pre-Gateway (rezoning) review process to ensure it is achieving its objectives and operating in the most transparent and efficient manner. The outcomes of this review are proposed to be finalised and implemented by June 2016.
Where do I get further information?
If you require further information about the operation of Sydney Planning Panels please contact the Joint Regional Planning Secretariat on 02 9228 2060 or at <a href="mailto:jrppenquiry@jrpp.nsw.gov.au">jrppenquiry@jrpp.nsw.gov.au</a>
If you require further information about the role and functions of the Sydney Planning Panels, please contact the Greater Sydney Commission on 02 8289 6200 or at <a href="mailto:info@gsc.nsw.gov.au">info@gsc.nsw.gov.au</a> 
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Property 101: New planning panels for Sydney

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Heritage property renovators are encouraged to be as creative as possible within any heritage constraints while refreshing for appeal and necessity according to Herron Todd White, whose latest residential market report concentrates on residential heritage market in inner Sydney.
HTW says the council must consider the effect of any proposed development in the area surrounding heritage items or conservation areas, this ensures an appropriate context for heritage items and that owning a heritage listed property can bring other advantages such as protection of an item.
"Owners are typically not permitted to render the front facade, demolish and rebuild or build up and they are encouraged to be as creative as possible in their restorative thinking to make the property both liveable and appealing," HTW said.
"The way the dwelling looks from the street will usually have to be maintained, from the chimney to the roof line. You can have a Federation front and go completely contemporary with an extension or addition at the rear. 
"There are higher restoration costs for craftsmanship especially when period features such as decorative ceilings, cornices and ornate fireplaces are to be retained and also heritage specialist fees."
The report noted the recent sale of ten properties at Millers Point owned by the NSW Government that went up for auction.
"A heritage listed terrace at 40 Argyle Place, Millers Point sold on 25 February 2016 for $2.75 million and comprises a two storey, circa 1887 Victorian Terrace with 4-bedrooms and 1-bathroom with no car accommodation on 128 square metres of land. The property is in need of a full restoration," it said.
"9 Pickering Lane, Woollahra sold on 20 November 2015 for $2.025 million and comprises a circa 1880 single level neo-Georgian sandstone cottage with 2-bedrooms and 1-bathroom and no car accommodation on 152 square metres of land. The property has retained the front façade with an architecturally designed extension at the rear."
 
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Liveability, appeal key to Inner city Sydney heritage restoration: HTW

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The Bondi house long embroiled in a battle over its unslightly rubbish hoarding was pulled from its scheduled auction last night.
It wasn't that the Bobolas family came up with the funds to repay Waverley Council, but rather some sheriff's paperwork that wasn't quite right.
It was expected to fetch $2 million plus purely for the 553 sqm plot.
Local residents were unimpressed on the mid-afternoon news that the postponed auction means more weeks or months of stinking stacks of rubbish.
Raine &amp; Horne agent Ric Serrao said the postponement was advised when the sheriff's lawyers checked all the accompanying legal paperwork.
The hoarders has been a 26 year saga between the family and the Waverley Council.
The Bobolas family managed to stop the early 2015 sale when it was listed in February by stumping up $180,000 for cleaning and legal bills.
But Waverley Council released a more recent statement suggesting the family now owes a further $160,000 with legal costs still accruing.
Waverley Council have lodged four local curt writs on the title, the most recent being for over $43,000 court judgement in April.
More than $350,000 of Waverley ratepayers money has been spent trying to control the tonnes of rubbish.
The home has been in the Bobolas family name since they paid $15,000 in 1973.
The new owners when it is sold will have the responsibility of disposing of the rubbish left behind.
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Bondi hoarder home pulled from auction

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Two commercial properties in Sydney were snapped up by Chinese investors at a recent auction, with the sales totalling $8.41 million.
Porteno Restaurant at 358-632 Cleveland St, Surry Hills sold for $6,660,000 at a sharp yield of 5.36%.
Knight Frank’s Andy Hu and Linda Zhu brokered the sale of the property. 
The property is fully leased by the Porteno Restaurant, which has made it to the Gourmet Traveller national top 50 restaurants list and has won several awards, including The Sydney Morning Herald Chef of the Year in 2013.  
It features a ground and mezzanine level with an internal area of 750 sqm.
“Surry Hills is a growth area at the fringe of the Sydney CBD and a good investment location. The high-profile tenancy’s lease to Porteno Restaurant until 2020, plus a further five-year option, was a huge drawcard for investment," said Zhu.
"The property has three street frontages to Cleveland Street, Riley Street and Goodlet Lane, so has a prominent visual presence," added Hu.
 The second property, Shop 2, 438-448 Anzac Parade, Kingsford sold for $1,750,000 with a yield of 4.75%.
The deal was brokered by Andy Hu.
The property is tenanted by a retail chain on a stable lease, Yogurberry.
It comprises a ground floor, 138 sqm tenancy plus two underground, secure car spaces. It is located near the University of NSW.
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Chinese buyers snap up $8.41 million of Sydney commercial property at auction

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Sydney residential rental vacancies remain steady at 1.7 percent for the third month in a row according to the Real Estate Institute of New South Wales.
REINSW President John Cunningham said the April 2016 REINSW Vacancy Rate Survey again saw Inner Sydney rental accommodation unchanged at 1.3 percent.
<a href="/images/2016/05/18/Screen%20Shot%202016-05-18%20at%203.14.31%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/18/Screen%20Shot%202016-05-18%20at%203.14.31%20PM.png" alt="">
“Middle Sydney was down 0.3 per cent at 1.6 per cent, while Outer Sydney rose 0.1 percent to 1.9 percent,” he said.
“Low vacancy rates highlight the shortage of properties in high demand areas. This trend is expected to continue into the winter months.
“Properties are leasing well and in quick time frames in Newcastle."
<a href="/images/2016/05/18/Screen%20Shot%202016-05-18%20at%203.14.37%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/18/Screen%20Shot%202016-05-18%20at%203.14.37%20PM.png" alt="">
 
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 Sydney residential rental vacancies steady: REINSW

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SPONSORED POST
Sydney developer Longton Property Group is working on a $300 million Avantra apartment project in Mascot that is designed to imitate a suburban street, but going up instead of a horizontal orientation.
The 328-apartment complex plus ground floor retail has been designed with a sense of community by architects MD+A and interior designer Archer + Wright.
The apartment block will include communal areas such as a shared rooftop area in which residents can swim, barbeque and interact with views of the Sydney skyline.
Covering 8,762 square metres, Avantra is oriented vertically, akin to “streets in the sky”, according to MD+A architect Brent Marvin.  
“We have six metres between front doors which is typical of a small lane, and we have pocket parks at each level where residents can sit in the sun. Within the building we have areas where residents can work or socialise, entertainment zones, a full-scale pool and BBQ areas. Instead of these elements being spread out at ground level we have designed them in the sky,” he said.
Avantra will be centred around a large courtyard garden designed for communal use. The designer, Daniel Blaffsky of 360 Degree Landscape Architects, aimed to create a sense that “the whole area is your garden.”
“Our philosophy is to create a beautiful landscape, but also a setting for community, for people to have chance interactions, as well as to have spaces for privacy and to relax.”
Longton aims for Avantra to be a community unto itself.  
One way it achieves this is through technology: each apartment will come with an iPad and the myiButler app, with which residents will be able to order shopping or house cleaning without leaving their unit.
All Avantra residents will also be part of a single virtual network, or iCommunity, allowing them to share information. Residents will be able to check updates on news, weather or finance, to be accessed either on their phones or iPads, or on an electronic noticeboard in each lobby.
For more information on Avantra, <a href="https://www.avantra.com.au/" target="_blank">click here</a>.
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Avantra homes in Sydney's Mascot akin to 'streets in the sky' 

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GUEST OBSERVER
The management of growth across Sydney should be helped by the NSW government announcement of 17 new councils through amalgamations.
The NSW government has needed to take on a reform agenda for local government for decades and is now delivering.
The announcement that the government is proceeding with the formation of 17 new councils including 7 in metropolitan Sydney should finalise debate and lead to more effective councils. 
The government is also supporting in principle 9 more new councils including 6 in metropolitan Sydney subject to court decisions and this is likely to also lead to more effective councils.
The most important thing is to finalise the transition quickly so strategic planning and development assessments are not disrupted.
The Urban Taskforce has seen delays to planning decisions for large projects that have been caught up in the proposed amalgamations and a clear decision on the final structure of council boundaries should give clarity to responsibilities for planning decisions. We urge the government to ensure that planning determinations have clear processes for decision making during the transition phase to the new councils.
There would appear to be a role for the Greater Sydney Commission to take over some planning decisions in Sydney during the transition to the new councils through their two planning panels. Now that the 6 District Commissioners are appointed the new panels should be able to get underway soon.
The amalgamation of rural councils should lead to more effective servicing of communities but towns that are a long distance apart will need local service centres for their communities.
The Urban Taskforce is keen to work with the state government on ensuring planning services, particularly for approvals, are not disrupted during the transition to the new council structures.
 
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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Stronger councils good for a growing city and state: Chris Johnson

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Ed Bostock, director of private equity at Kohlberg Kravis Roberts, and his wife Emma, have bought Pacific House, at Palm Beach.
Built in the 1950s and redesigned by designer Greg Natale, 36 Pacific Road fetched $2.85 million when the weekender was bought from the ad agency Ikon3 chairman, Gary Hardwick and his wife, Tana Turnbull.
It had previously traded in 2006 for $3.3 million when sold by designer Niels Herholdt and Anna Utzon, the great niece of Opera House architect Jorn Utzon.
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Pacific House Palm Beach sold 

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The 1833 Georgian Villa Lyndhurst in Glebe has been listed for sale as the owners are off to Darlinghurst's Iona.
Now set on 1507 sqm after once being on a 14 hectare plot, the six bedroom home is surrounded by established gardens which feature mature palm trees and a tranquil fountain.
Each of the entertaining rooms on the lower level open through French doors to a wide colonial style veranda.
The modernised kitchen and bathrooms are designed by heritage architect Clive Lucas.
The <a href="https://sydneysothebysrealty.com/5659173/57-65-Darghan-Street-Glebe" target="_blank">property is available through</a> Harriet France and Tony Barron for May 21 auction.
The home was built by esteemed architect John Verge as a 'Marine Villa' for principal Colonial surgeon James Bowman, the husband of the iconic pastoralist John Macarthur's daughter Mary.
Lyndhurst was sold in straitened circumstances in 1847 and bought by Anglican Bishop William Broughton to establish St James College, Australia’s first theological seminary.
Later a Catholic Benedictine Monastery under the name of St Mary’s College, the sale of the property in 1877 provided the funds that enabled the establishment of St Ignatius College, Riverview and St Patrick’s Seminary, Manly.
The home was bought by the Department of Main Roads in 1972 and slated for demolition to make way for an expressway.
Saved at the last minute due to agitation by the Save Lyndhurst Committee, a Builders Labourers Federation green ban and a change of state government, the process of restoring ‘Lyndhurst’ to its former glory began in 1979.
The official headquarters of the Historic Houses Trust from 1986, the residence was passed into private hands in 2004.
The median house price in Glebe is $1,550,000, according to CoreLogic RP Data.
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