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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

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

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

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

WM Residences fills gap in Mordialloc townhouse market

Sydney

<html><body>
<div>Two neglected terraces houses in adjoining inner city suburbs went to auction last night, each having their own terribly sad tale.</div>
<div> </div>
<div>Both seemed set to be pretty much a battle of builders to secure the home improvements project in Paddington and Surry Hills.</div>
<div> </div>
<div>The run down Paddington terrace on 50 sqm in Sydney's prestigious inner east suburb secured $1 million at auction through Di Jones selling agent Adam McKay.</div>
<div> </div>
<div>The Paddington property originally had an auction guide of $750,000 but the auction guide was cautiously updated to $800,000.</div>
<div> </div>
<div>
The tradie's got beat as sold for $1 million to a professional home decorator who beat off very strong tradie buyer interest.
<div> </div>
<div>"I like to do up old homes," the (unnamed) Rozelle buyer said. "I've already called my builder. He will do a good job, and I will enjoy living there," she said after the auction win.
</div>
<div> </div>
<div>Yellow work vests and steel capped work boots galore at the auction in the upmarket auction room.</div>
<div> </div>
<div>The tradie underbidder was at $975,000. </div>
<div> </div>
<div>The opening $400,000 offer was refused, so bidding instead got under way at $675,000 on the Iris Street offering.
</div>
</div>
<div> </div>
<div>McKay noted the prospective budget for even the most essential renovation kept most young families from participating in the auction, despite the price being well below the norm.</div>
<div>
<div>
 Paddo's median house price sits around the $1.7 million mark, according to CoreLogic RP Data. It is $1.4 million in Surry Hills.
</div>
</div>
<div> </div>
<div>Renovation costs are currently soaring in Sydney, up eight percent year on year, compared to a national increase of only 1.5 percent, according to a recent report by services marketplace Serviceseeking.com.au.
</div>
<div> </div>
<div>Carpentry and building saw the largest price increases, up 26 percent and 18 percent due to the labour shortages in the state.</div>
<div> </div>
<div>There are two bedrooms, one bathroom and no toilet as such in the home previously owned by late artist Christina Coombes.</div>
<div>
The property was involved in a bizarre court case where an Iraqi refugee tried to claim the dank hovel by suggesting he was Christina's lover, cat minder and dancing partner for 17 years.
Christina's neighbours intervened and said that he was nothing more than a fruit and junk salesman who occasionally sold items to her.
Christina bought the property with her late butcher husband Kenneth Coombes in 1965 for £3,200.
</div>
<div>Fewer and fewer property in such disrepair - often with the old time dunny in the back yard - now come on to the market given the decades of million dollar makeovers that owners have undertaken in what is perhaps Sydney's most primped and primed suburb.</div>
<div>
<div> </div>
<div>Nothing these days under $1 million.
</div>
<div> </div>
<div>
The Surry Hills offering came with its own tale with the woman Sydney forgot to be honoured by the man who bought her terrace house for $1,105,000.
</div>
<div>
Natalie Jean Wood’s skeletal ­remains were found in 2011 in her dilapidated Surry Hills home, where they had lain undiscovered for almost eight years. She was 86 years old.
Her terrace house at 139 Kippax St, described by real estate agents at PRDnationwide Perez Real Estate as completely ­uninhabitable, sold at auction.
“I felt very sad by the story and I’m going to find her grave and leave flowers on it,” the buyer told The Daily Telegraph.
“It just goes to show how sad it is that people aren’t close to their neighbours any more. I won’t forget her.”
Before the auction, agent Corrinne Olsen said she expected the deceased estate to go for about $600,000 to $700,000 based on early interest.
“I thought at most it would go for $850,000,” she said.
There were 28 registered buyers.
</div>
</div>
</body></html>

jchancellor-FAypfDUnLy

Sydney's timewarp inner city auctions attract strong buyer interest

<html><body>
OK, so I understand that house and apartment prices in Sydney are expensive and likely to remain so.
While it depends on which research you read or believe Sydney generally ranks among the world’s top 10 most costly cities for residential real estate. Ranking alongside Monaco, Hong Kong, London, New York and Singapore.
Prices are influenced by many factors and it’s a lack of supply that is one big factor in Sydney like it is for Monaco, Hong Kong, Singapore and Geneva. These cities have one thing in common, they have very limited land and so little space to expand and Sydney has that problem as well but only to a degree.
Supply here is more to do with planning and the fact that Sydney is spreading over such vast distances and there is  a basket of other very important factors that drive demand and hence prices in particular areas. No matter if we’re talking about houses or apartments, both new and established, there’s a batch of ‘demand boosters’ that are having an ever-increasing impact on prices. From a marketing perspective, I am also sure that buyers are fully tuned-into these factors and are ever more savvy about what they look for when shopping around the market.
If we’re planning a marketing campaign for a new apartment project, for example, I think it’s no longer enough simply to tick the location box. As some sort of all-encompassing concept that’s not good enough, as markets change and mature we need to apply a much broader view of what drives a particular location, it’s a diverse and interesting mix.
Supermarkets &amp; Train Stations
In any major city like Sydney, Melbourne or Brisbane the pressures of modern urban living are fairly obvious. How many times do you hear comments about racing to pick up the kids from school or not having time to get to the supermarket to fetch something for dinner, with these comments usually punctuated by ‘there’s never enough time’ in my day?’
It’s these everyday hurdles that if eliminated or made easier by where you live can really boost demand for a particular location and also act to underpin local prices, sometimes in a more significant way than we might be aware of.
Taking a closer look at some of these ‘demand boosters’ unlocks a list of features many buyers would both actively and instinctively look for.
Lets start with shopping, the spread of major supermarkets and the long hours they trade is clearly testament to how important having a good supermarket close by has become. Buyers would also I think be influenced by how easy it is to park, and they may even look for a particular type of supermarket and that could logically extend in some markets, like inner-city locations to emerging organic and gourmet brands.
In a similar vein of thinking markets and growers-markets, in particular, have become very popular and they could be a positive factor for some buyers.
Then we have access to schools and university, both have become key drivers of demand in some areas, it’s no accident that some of our most expensive suburbs are located near our best known private schools. And growth in apartments around major universities has been explosive for many years now making these areas popular with all sorts of buyers including investors.
Another booster comes in the slightly less physical guise of a suburb or street name and apartment brand, and for some buyers the street and apartment number are factors. In every city there are long-established areas and suburbs with instant appeal and allure, in Sydney, for example, the ‘Hills’ and ‘Northern Beaches’ have for pulling power as do historic suburbs like Paddington. The same also applies to new areas, and again with reference to Sydney examples of newish locations include The Ponds, Homebush (thanks to the Olympics) and Edmondson Park (thanks to the rail connections).
With apartment buildings, the pulling power of the brand is often underpinned by a combination of the developer’s reputation, the choice of architect and shrewd marketing.
Having access to good cafes and restaurant is another very obvious factor that will attract a buyer’s attention and act to boost local prices, a great coffee shop is a very real attraction and many inner city suburbs now have such establishments at their heart. Quality and innovative dining are real draw cards and even short-lived pop-up eateries can boost an areas appeal.
It’s also no accident that both Sydney’s Barrangaro and Melbourne’s Crown Casino have both employed international top-draw restaurants, in fact possibly the best in the world to boost their respective brand, and its worked big time. It’s clear that no matter if it’s high end or casual takeaway food a good operator in an area of neighbourhood is a very real positive that reflects in an area’s appeal and local real estate values.
The last two factors are easily the most sought after and these demand boosters revolve around views and access to public transport. Water views are easily the most prized, be the harbor or river views or as we see in Canberra, lake views, they all rank highly among buyers and big ticket homes with water views taker the prize, while developers will always do battle for sites with water views. Plus direct water access will motivate stronger buyer demand.
My last suggested booster is another obvious one and it’s access to public transport it’s a big factor in Sydney, as it is in other cities like London.
But it’s becoming complex, and buyers are today more sensitive to public transport congestion, just being near a rail or light rail station is a positive factor, however as various state governments put more housing on major rail links congestion is a real issue. News about the over crowding on trains soon spreads and buyers become sensitive and so look for options.
The spread of light rail in many areas is an obvious response and major transport infrastructure projects will continue to drive growth for some time, still we need to hark back to the fact that demand and hence price is driven by many diverse factors and each can help attract a premium if carefully marketed.
Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.
</body></html>

pchittenden-eLqUUC8TWW

Cafes and supermarkets support house prices: Peter Chittenden

<html><body>
Sydney recorded a preliminary clearance rate of 77.2 percent to Sunday February 21 from 724 auctions, according to CoreLogic RP Data.
A preliminary clearance rate of around 50 percent was recorded in the Baulkham Hills  and Hawkesbury regions, 88.2 percent for both the City and Inner South region and 88 percent in the Eastern Suburbs.
<a href="/images/2016/02/22/Screen%20Shot%202016-02-22%20at%2012.23.52%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/22/Screen%20Shot%202016-02-22%20at%2012.23.52%20PM.png" alt="">
</body></html>

mick.cee-iDmgDDAmu8

88.2 percent clearance rate for both Sydney City and Inner South: CoreLogic RP Data 

<html><body>
McGrath Estate Agents has opened a new office in Liverpool, in Sydney's South West, bringing the total office count to 81.
Chief executive John McGrath said  Liverpool will no doubt be a beneficiary in terms of the demand for housing with significant investment in the region for infrastructure and services.
“Its affordability, close proximity to both Sydney and to the proposed new airport at Badgerys Creek will be a very positive economic driver for the area," he said.
McGrath Liverpool will service the local area from Fairfield in the north, to Catherine Field in the south, to Cecil Hills in the east, and Glenfield in the west. 
Principals Luke Mannion and Anna Younan will lead four sales agents. The office is the third in the McGrath franchise under Mr Mannion’s leadership. 
McGrath Limited reached agreement to acquire the largest franchise group within its network in October 2015, with 10 McGrath franchise offices across Sydney’s mid to upper North Shore, North-West and Northern Beaches region, becoming McGrath company owned offices.
The 10 McGrath offices, under the leadership of Shane Smollen, was one of the largest real estate agency groups in Australia.
</body></html>

jonathanchancellor-7SQnKwU6yx

McGrath expands in Sydney’s South West with new Liverpool office

<html><body>
Sydney vacancy rates for January rose 0.1 percent for the Inner region to 1.9 percent, Outer Sydney up 0.4 percent to 2.3 percent and the middle region down 0.6 percent to 1.8 percent, according to REINSW.
The January 2016 REINSW Vacancy Rate Survey found combined Sydney properties for rent down 0.1 percent at 2.0 percent.
Hunter vacancy rates rose 0.7 per cent at 3.0 percent with Newcastle up 0.9 percent to 2.7 percent.
Albury fell 0.5 percent at 2.7 percent, Northern Rivers fell 0.2 percent at 0.7 percent and Riverina was down 0.3 percent at 3.7 per cent. Central Coast rose 0.3 percent to 2.8 percent, New England rose 0.3 percent to 3.6 percent and Mid North Coast rose 0.7 percent to 1.8 percent.
REINSW President John Cunningham said vacancy rates were expected to remain tight for much of 2016.
 
</body></html>

po-LsXgBTHBmX

Sydney rental accommodation remains tight: REINSW

<html><body>
Sydney recorded a preliminary auction clearance rate of 78.6 percent for the week ending 14 February from 469 total auctions, according to CoreLogic RP Data.
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%2012.32.29%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%2012.32.29%20PM.png" alt="">
The North Sydney and Hornsby region was the strongest weekend performer with a 92.5 per cent preliminary clearance rate, the City and Inner South at 89.1 percent and the Eastern Suburbs  at 88.3 percent.
<a href="/images/2016/02/15/20160215-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Sydney.jpg" alt="">
 
</body></html>

North Sydney, Hornsby lead weekend auctions with 92.5 percent clearance rate: CoreLogic RP Data

<html><body>
The fundamentals for a solid year for property for NSW and especially Sydney are all there, excepting some requisite sentiment.
The residential market after such an extraordinary run was ripe for the spooking especially after Macquarie Group forecast, rather vaguely, that Australian house prices would fall by 7.5 percent starting this year.
Ofcourse a drop of 7.5% in Sydney - which is not what they were suggesting - would only take back around one tenth of the 73 percent gain in dwelling house prices accrued since the end of the global financial crisis in 2009.
The small uptick in bank interest rates, higher for investors than owner occupiers, didn't help the buyer confidence extend into the spring selling season.
Now John Symond, executive chairman of Aussie Home Loans, recently suggested there's been talk at the top end of town of more to come.
"It would not surprise me if over the next few months that the banks creep up their lending rates, but I don't think they'll go through the roof."
"They may go up another 0.1 or 0.15," he tipped.
"But at the moment I think consumers want every bit of help they can get to give them that bit of confidence."
Problem was Sydney over reached in early 2015. One research group even calculated the Sydney median house price had suprisingly surged past $1 million a whole year ahead of their scheduling.
Crazy is not where the market should be anyway, especially as households’ ability to borrow relative to their income should be the most important factor in their purchase decision. Not the fear of missing out which dominated much of early last year.
But don't think the negative sentiment will necessarily disappear soon.
Global ratings agency Moody’s got headlines earlier this month when they warned of increased mortgage delinquencies over the coming year as the regions most vulnerable to mining were starting to show “some signs of stress”. The NSW Hunter Valley especially.
But back to those fundamentals. New South Wales is benefiting from record low net interstate migration outflow, and strong, albeit easing, net overseas migration.
The collapse in completions between 2006/07 and 2011/12 created a sizeable dwelling deficiency. Thankfully completions rose from 8,400 dwellings in 2011/12 to 33,400 dwellings in 2014/15, however BIS Shrapnel forecaster Angie Zigomanis suggests the deficiency of 42,300 dwellings will take some time for the market to return to balance.
While rental growth is certainly subdued, investors will be bouyed that vacancy rates in inner and middle Sydney fell below the balanced market rate of three percent in 2005 and have not been higher since. 
Drive anywhere around Sydney and the emergence of an instrastructure spend is evident. Light rail in the east or progress on the new roads to support the Western Sydney Airport at Badgerys Creek.
Yes macroeconomic cyclical factors are likely to periodically play something a spoiler role in price growth during 2016, but we ought emerge stronger from it. 
This article was first published in the Saturday Daily Telegraph.
</body></html>

Sydney's fundamentals are in place, but perhaps not the sentiment

<html><body>
Studios and one-bedroom apartments in Sydney have the largest proportion of rental tenants, while it’s the least for three-bedroom apartments, a new paper from BIS Shrapnel suggests.
Contributing factors include NSW’s strong population growth, net overseas migration, and a record low net interstate migration outflow. The findings were taken from the BIS Shrapnel report titled 'Apartments in Sydney Suburbs Market Brief'. 
Studio and one bedroom apartments are dominated by rental tenants, who account for 70% of households moving into these apartments over the prior five years. 
For two-bedroom apartments, 57% of movers were tenants, while it was just around 40% for three-bedroom apartments.
<a href="/images/2016/02/13/Screen%20Shot%202016-02-12%20at%208.20.13%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/13/Screen%20Shot%202016-02-12%20at%208.20.13%20AM.png" alt="">
Vacancy rates in both Inner and Middle Sydney have consistently remained below 2%, with occupancy being underpinned by strong population growth over overseas migration, with many migrants’ first accommodation being rental dwellings, says the report. 
Rental growth, however, is a different story. While median unit price growth remained high at 14.9% in 2014/15, rental growth was just 1%. 
Long-term median two-bedroom unit rental growth has lagged the growth in prices, ranging from 4.0% per annum on the Lower North Shore, to 5.3% per annum in the Middle South West.
<a href="/images/2016/02/13/Screen%20Shot%202016-02-12%20at%208.21.24%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/13/Screen%20Shot%202016-02-12%20at%208.21.24%20AM.png" alt="">
The result has been that indicative unit yields in Sydney are now around their previous lows of 2003 to 2005, at 3.7% in June 2015.
<a href="/images/2016/02/13/Screen%20Shot%202016-02-12%20at%208.18.20%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/13/Screen%20Shot%202016-02-12%20at%208.18.20%20AM.png" alt=""> 
This would point to little potential for further growth in unit prices (and eventually the possibility of price declines), as occurred during the mid-2000s.
 
</body></html>

prateek24-ezbwHMbNAk

 Sydney rental growth lags despite strong tenancy: BIS Shrapnel report 

<html><body>
The number of residential property listings dropped 0.2% in January across Australia, driven by a large fall in Sydney. 
The number of listed properties fell to 342,899 in January 2016, decreasing 0.2% from December 2015.
Residential property listings were up in every capital city except Sydney and Melbourne over January, according to figures from SQM Research.
Sydney had the largest fall in available properties with listings down 5.2%.
Melbourne listings were down 2.6% over the month. 
Brisbane had the largest month-on-month increase in residential property listings, up 3% over January, followed by Perth up 2.5% and Canberra up 1.6%.
However, year-on-year results indicate that residential property listings are up for most capital cities.
Property listings in Sydney and Canberra are higher than this time last year with Sydney experiencing a yearly rise of 13.7% and Canberra recording a rise of 11.2%.
Year-on-year, Melbourne and Hobart were the only two capital cities to record a drop in properties available for sale. Melbourne listing dropped 8.9% while Hobart listings dropped 7.7%.
SQM Research managing director Louis Christopher says the figures are further proof that the Sydney market is beginning to cool.
“As we enter into the new property season it’s clear that our latest indicators are suggesting a continued mixed market across the nation.
“On the one hand there is an overhang of stock on the market in Sydney, which is a symptom of the slowdown in the market there that started the second half of last year.
"While on the other hand Melbourne does not appear to have any overhang, and so will be entering the new season less stock on the market than what has been the average for the past five years."
</body></html>

SQM sees overhang in Sydney's 2016 listings

<html><body>
Now, if you are not a believer in being prepared and you don't feel that the property market will drop; put that coffee mug away. Click back to your Facebook page. Danger, read this at your own peril.
For the rest of us, it's time to pour ourselves a fresh cup of coffee, and look at the property market trends. Trends that we have been discussing for over 12 months now, and have been preparing our readers for: i.e. the changes in market forces.
Here we are, moving into 2016 and again, economists with invested interest in the property market continue to spruik the “steady property growth” in Sydney and the “she’ll be right” lines.
Our readers, followers and clients, on the other hand have been preparing for the reality of what is about to “slap” many economists in the proverbial face and a lot of investors, rip holes in their back pockets.
Sydney Property Snapshot: Auction Result Saturday 30 January 2016
There are a number of key take-aways from the transaction report or “on the market history” shown above (Source CoreLogic RPData). I will concentrate on three of these as follows.
<ul>
<li>Vendor's &amp; Agent's Expectations:</li>
</ul>
We may on the one hand say, vendor’s expectations were being fueled by the main-stream-media’s property reports, coupled with the crazy prices being paid by our friendly Chinese investors and home grown investors wanting to jump on the "Gravy Train".
Expectations also adding to real estate agent's promises of achieving high prices.
Prices again being fueled by buyer's fear of missing out, coupled with the notion of huge under-supply as well as beliefs of  “not enough land”. Then there are the ongoing beliefs of: high migration intake and that "interest rates won’t go up anytime soon: therefore, commit now". My favorite "HUGE rental squeeze".
The above mentioned beliefs as you well guessed, primed the market and created a foundation for this property bubble. A foundation that supported the comparable sales in the area, in most instances; prices that reflected the initial “Above $730K” prices being advertised i.e. the prices being paid at the height of the market.
<ul>
<li>Agent’s Marketing &amp; Sales Strategy:</li>
</ul>
The main strategy I want to review, is the one carried out by the second agency. In simple language: “what the hell were they thinking in taking the property to auction” and for a second time?
I can only say; yes, I’m sure the vendor is now conditioned and perhaps even bullied into being a “motivated vendor”.
<ul>
<li>Drops and Market Conditions:</li>
</ul>
However, we can see on the surface by the evidence presented in the recent auction reports, vendors are moving into very precarious territory when taking property to auction on an agent’s ‘whim’. And, you have to be careful who you appoint as the real estate agent and the auctioneer, if that is the method you are told is the best way to sell your home.
Again, the table above shows two key points: the first, the drop in asking to highest bid value and the second, the number of days on the market.
The passed-in bid, is reported to be $650,000 by the second agent. A significant drop and contrary to the first agent's initial asking price which was for: offers above $730,000. WOW ...
We can see a significant drop of willingness for people to commit now. A difference of almost -12% from the height of the market in 2015, to now. But, there is more room for a further drop.
I point out; we are only a month into 2016.There will be more carnage to come. Carnage that will take out many vendors that are not vigilant.
For Now: Is it a matter of...
<ol start="1">
<li>Signs of the times?</li>
<li>Real Estate Agent's flawed marketing strategy?</li>
<li>Auctioneer's ignorance? OR</li>
<li>All of the above?</li>
</ol>
More than ever before, I urge you as vendors and agents; do your homework. Ask yourselves as agents, the fundamental question which is pertinent to obtaining the best price for your client: is an auction campaign still the best way forward, for your vendor?
Vendors, again more than ever, be proactive and ask the agent about the number of registered bidders leading up to the auction day. If none are registered then ask whether you should still be going to auction. Meet the auctioneer and ensure they go through the property, days before the actual auction date that is.
Most of all vendors, do not be afraid to question the agent's reasoning for the marketing strategy they want you to embark on. It may well cost you 10's to 100's of thousands of dollars, if you don't.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
</body></html>

Sydney

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Sydney

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News