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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GUEST OBSERVER
There is no better indicator of the success of a city than the numbers of people who want to visit, live and work there. But this success creates demand for space, which is increasingly hard to come by in a growing number of world cities. This is especially the case on constrained land and historic sites, where expansion potential is limited. 
<h2>Worldwide increases in tourism</h2>
According to the UNWTO World Tourism Barometer, worldwide international tourist arrivals reached 1,138 million in 2014, a 4.7% increase over the previous year, and have already increased by 4% in the first half of 2015.
The Savills 12 Cities Report (which examines worldwide trends) found that nine of the 12 cities included in the report were featured in the top 20 worldwide for international overnight visitors. London topped this list with 18.8 million overnight visitors in 2014, and a huge 300,000 visitors every night.
Although cities in Australia tend to receive a smaller amount of international visitors in comparison to some of the world's top tourist destinations, international visitation is still increasing. According to Tourism Research Australia, Australia saw a 7% increase in international visitors in 2015, which has also led to a growth of 10% for international visitor spend.
This growing trend means that world cities need to consider how to accommodate an increasing number of international visitors. International business people, if they continue to invest in a city, will want to spend time there. The quality, availability and convenience of accommodation – owned or rented – is an important component of city investability and economic success.
<h2>The question then becomes how to accommodate all these visitors</h2>
Governments will need to look at ways to sustainably develop and increase the density of their cities, and extend their reach, or a combination of the two. This means construction and transport infrastructure are likely to remain high on the list of priorities for some time to come.
In addition, certain businesses such as Airbnb have emerged over the past five years to revolutionise how we perceive available space in a city. Instead of building new space, Airbnb connects travellers with pre-existing space (rooms, apartments or whole houses already built). 
New technology and the digital space has allowed this new accommodation platform to disrupt the traditional travel industry, and Airbnb has already hosted more than 50 million guests worldwide, with 1.5 million properties currently listed around the world. 
<h2>Lack of space leads to rising rents </h2>
The inability to keep pace with accommodation demand has created cost pressure, which is why rising rents are a common feature of world cities.
The average accommodation cost per person in the Savills Executive Unit (SEU)* and their household in the 12 cities featured in the Savills 12 Cities Report is now $74,945, compared to $68,538 in December 2008. So despite the recession of 2008-2010, when average live/ work accommodation costs fell by 5%, rents are rising faster than city GDP growth in most jurisdictions.
The biggest rise has been seen in San Francisco, but high live/work rental growth has also been seen in other cities since 2008; New York, Los Angeles, London and Sydney have all seen rents spike between 18% and 28% during this time.
To learn more about the trends across world cities, view the Savills 12 Cities Report <a href="https://pdf.euro.savills.co.uk/global-research/12-cities---h2-2015.pdf" target="_blank">here</a>.
 
Tony Crabb is Savills Australia’s national head of research and can be contacted <a href="https://www.savills.com.au/blog/author/109174/Tony" target="_blank">here</a>. 
 
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jchancellor-FAypfDUnLy

How will the world’s top cities cope with the increase of visitors? Savills' Tony Crabb

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The home of Sydney’s Rockpool Bar &amp; Grill and Spice Temple, 66 Hunter Street is about to come to the market.  
Set within the City Mutual Trust building, the 2,019 sqm space holds two restaurants.
“66 Hunter street comes with long term leases to Australia’s most awarded chef, Neil Perry, who will continue to operate arguably two of the best restaurants in the country at this wonderful location,” listing agent, Miron Solomons of Colliers International said.
"The asset is located in the heart of Sydney’s financial district, and with such a highly regarded, long term and stable tenant in place it will always be highly sought after by a local and international investors. 
The property is being sold by US based investor, David Doyle who has decided that selling the asset in the current market would free up capital for him to explore future opportunities.
Doyle is Perry's business partner.
The international expressions of interest campaign closes March 2 with $30 million plus tipped.
It follows the successful sale of Rockpool restaurant Bridge Street last October for more than $8 million.
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The home of Rockpool Bar & Grill and Spice Temple, 66 Hunter Street on market

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Sydneyï¿½s residential vacancy rates in the inner ring of Sydney have remained tight, according to data released by the Real Estate Institute of New South Wales.
The December 2015ï¿½REINSWï¿½Vacancy Rate Surveyï¿½saw the number of properties for rent remain steady at 1.8 percent.
But REINSWï¿½President John Cunningham noted a large number of developments were waiting to be competed.ï¿½ ï¿½Stock levels remain low in some of Sydneyï¿½s most popular areas and this is set to continue until the completion of many large developments which are underway,ï¿½ Mr Cunningham said.ï¿½ Vacancy rates in outer Sydney rose 0.2 percent to 1.9 percent, while middle Sydney rose 0.7 percent at 2.4 percent due in large part to lower response rates in this area caused by the holiday period.ï¿½
ï¿½Innerï¿½ includes suburbs in the following LGAs: Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra.
ï¿½Middleï¿½ includes suburbs in the following LGAs: Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.
ï¿½Outerï¿½ includes suburbs in the following LGAs: Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong.
Northern beaches realtor John Cunningham was electedï¿½president of industry bodyï¿½Real Estate Institute of New South Walesï¿½for a two-year term in late 2015.
Cunninghamï¿½started his real estate career in 1977 and opened his own business, Cunninghams, with his wife Ann in 1991. He opened a second branch of Cunninghams earlier last year.ï¿½ He replaced Malcolm Gunning, who remains on the REINSW board.
Elsewhere, rental availability in the Hunter region continued its decline with a fall of 0.2 percent at 2.3 percent. Newcastle was down 0.3 percent at 1.8 percent.ï¿½ In the Illawarra the overall vacancy rate fell 0.1 percent to 0.9 percent despite a rise of 0.4 percent in Wollongong to 1.5 percent.ï¿½ 
In the regional areas New England rose 0.2 percent to 3.3 percent, Albury added 0.8 percent to 3.2 percent and the South Coast was up 0.3 percent to 1.7 percent. Northern Rivers dropped 0.6 percent at 0.9 percent and Coffs Harbour was down 0.8 percent at 1.7 percent.
<a href="/images/2016/01/27/Screen%20Shot%202016-01-27%20at%209.04.39%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/27/Screen%20Shot%202016-01-27%20at%209.04.39%20AM.png" alt="" width="822" height="251">ï¿½
<a href="/images/2016/01/27/Screen%20Shot%202016-01-27%20at%209.04.50%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/27/Screen%20Shot%202016-01-27%20at%209.04.50%20AM.png" alt="">
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Inner Sydney landlords face looming competition from higher stock levels: REINSW

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CoreLogic RP Data's weekly update shows that the biggest sale this week came from Clontarf where a five bedroom, four bathroom sold for $5.2 million.
Previously traded at $1.925 million, <a href="https://www.realestate.com.au/property-house-nsw-clontarf-121662870" target="_blank">5 Peronne Avenue</a> (above) sold through James Haywood of Cunninghams Property after just 10 days on the market.
The ultra-modern home has four bedrooms in the main residence and a self-contained studio.
The main 443 sqm residence features a lower level play room and numerous balconies with day beds which offer views over middle harbour and the Spit.
Garden and pool maintenance is included for the resort style pool and its tropical surrounds.
The median house price in Clontarf is $2.55 million, according to CoreLogic RP Data
<img src="/images/2016/01/25/700_botm_house.jpg" alt="" width="591" height="359">
In a distant second was the six bedroom, five bathroom home <a href="https://www.realestate.com.au/property-house-qld-minyama-115791739" target="_blank">3 Minyama Island</a> (above) which sold for $3.9 million through Steve Turner of Sunshine Coast Platinum Properties.
The property, which hadn't been traded since 1997 enjoys 29.3 metres of Mooloolah River frontage which allows deep water access to the Coral sea.
Located on the exclusive Minyama Island, the house is architecturally designed in a relaxed coastal style.
Spread over three levels connected by an internal lift, the home features two full bars, separate wine cellar, billiard room, tiered theatre and a sauna.
The 1500 sqm site also features a full appointed pool-house overlooking the 20 metre resort style lap pool.
The median house price in Minyama Island is $771,250, according to CoreLogic RP Data.
The rest of the highest sales of the week are as follows:
<a href="https://www.propertyobserver.com.au/https://www.randw.com.au/property/0000246267" target="_blank">61 Wyuna Drive, Noosaville</a> - $3.79 million
<a href="https://www.realestate.com.au/property-house-qld-indooroopilly-116184679" target="_blank">18 Kew Street, Indooroopilly</a> - $3.69 million
<a href="https://www.realestate.com.au/property-house-nsw-st+ives-121346118" target="_blank">5 Mudies Road, St Ives</a> - $2.74 million
<a href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-121157222" target="_blank">12/18 College Street, Darlinghurst</a> - $2.4 million
<a href="https://www.realestate.com.au/property/603-1-pottinger-st-millers-point-nsw-2000" target="_blank">603/1 Pottinger Street, Millers Point</a> - $2.3 million
<a href="https://www.realestate.com.au/property-house-nsw-balgowlah+heights-121433070" target="_blank">63 Ernest Street, Balgowlah Heights</a> - $2.26 million
<a href="https://www.realestate.com.au/property/61-williams-rd-mount-eliza-vic-3930" target="_blank">61 Williams Road, Mount Eliza</a> - $2.153 million
<a href="https://www.realestate.com.au/property-apartment-nsw-waterloo-120362805" target="_blank">21/9 Danks Street, Waterloo</a> - $2.1 million
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jrobinson-rf4aSBido9

Clontarf tops weeks sales with Minyana in second place

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GUEST OBSERVER
Sydneysiders desire to have a house with a harbour or ocean view. Elsewhere a distant mountain view will do. But a view from the house to the vast space is bad for us – the allure of the capacious world out there can only make our body, and our mind, relentlessly unsettled.
The French proverb la forteresse assiégée – fortress besieged – is often used to describe the dilemma of being strangled inside while the freedom of space outside is irresistible. Brilliant though it may seem, the external world lying tantalisingly beyond a thin layer of glass is an inescapable distraction. The million-dollar view, or the readily available one via a smartphone, is not only bad for our body, but also our soul.
<h2>Turning away from the interior</h2>
The ancient Romans would have been terribly puzzled as to why the moderns would want a view of the depressing distance. The rich lived in introvert courtyard houses called domus, while the poor lived in multi-storey apartments known as insula. The poorest of all lived on the upper levels of the insula, with a view (the invention of the safety lift by Otis in 1852 has, up to now, reversed the vertical social pecking order in a multi-storey apartment building).
The Chinese, too, lived in inward-facing courtyards for thousands of years until well into the 20th century. For both the Romans and the Chinese, a slice of sky and the watchful eye of Heaven sufficed. Abundant in pre-modern Chinese literature is the recurrent theme of melancholy caused by gazing into the space afar in a lofty building; Nietzsche’s “pathos of distance” evokes similar sadness and frustration of modern times.
What then has triggered us to clamber willingly into la forteresse assiégée, which, incidentally, the Chinese writer Qian Zhongshu used as a metaphor for an unhappy marriage? Our relentless pursuit of the expansion of space, in both matter and manner, has caused the loss of interior and, more preciously, its associated strength of one’s inner life, which is essential to withstand the pressure of an increasingly depersonalised exterior world.
The works of Edward Hopper – the 20th-century American painter who is said to have portrayed the quintessential human alienation in our time – may shed some light on this syndrome. Hopper’s paintings reveal glimpses of life in a house. The characters, John Updike observes, are as silent as those found in 17th-century Dutch paintings:
As with Vermeer, a mystery seeps in and saturates the most modest levels of activity.
But the solitude is of a different kind: Hopper’s characters are no longer as content as Dutch housewives and children. They are painted with impasto and with no detail, stiff and expressionless. Updike calls this “a polluted silence”.
Polluted by what, I have wondered. Only daylight, oxygen and view are abundant.
Consider this painting by Hopper, Excursion into Philosophy: the man, dignifiedly dressed in white shirt and business trousers, sits on the rim of a solid bed. Beside him lies an opened book. But his frowning facial expression is impervious and yet unsettling – a classical Hopper.
Yes, Hopper is about suspension and the beautifully unsaid, but we still puzzle over what causes the man’s impossible reconciliation: he is torn apart between the book and the half-naked woman lying in bed behind him, and more so the expansive green prairie and blue sky outside the window.
The view invades the room with aggressive glare; the two large patches of light cast on the floor and the wall make it impossible to snug in a corner of the room. Even the bed, painted with Hopper’s heavy brushstroke, looks as hard as a rock.
Hopper once joked about this painting: “He has been reading Plato rather late in life”. But judging from the near-impeccable blue cover of the bed, nothing ever happened.
Did Hopper’s paintings in the early part of the 20th century foretell the increasing impossibility of the interior? His characters, it seems, are struggling for some degree of interior life. Hopper’s windows often have blinds for the upper part, whereas the large area of glass in the lower part admits view and light with abundance.
Dutch windows, unlike that of Hopper’s, and certainly nothing like that of our modern rooms wrapped by floor-to-ceiling clear glass, work in subtle ways. They help to create a cosy intimacy in the room with hints of the street or the garden beyond. In these rooms we see a water jar here, a mandolin there, and a map on the wall. A map or seascape oil painting adequately avails an imagination of the external world, which the Dutch had <a href="https://www.newworldencyclopedia.org/entry/Dutch_Empire">under their command</a>.
The intimacy in a room, which makes one feel at home and content in one’s world, is contributed by a serene illumination. Daylight admitted in these rooms is never abundant. Dutch windows often do not serve the purpose of viewing out.
It is a little eerie to notice that a Dutch window is a reversed Hopper: the lower part, which is the larger part, of the window is equipped with shutters only (glass was expensive and a rare commodity in those days), while the upper part has fixed leaded panes. Daylight pours in from the upper part to give the room a heavenly illumination. Only when weather permits is the lower part opened.
If glass can be afforded, the lower part is a casement frame fixed with coloured glass. Daylight as such is dimmed down to emit a mysterious gloom in the room.
As for the English in the 18th and 19th centuries, with heavy drapes drawn, they were content to sit around the warm fire to read a long novel: while the body is in a comfortably sedentary posture, the mind is let loose to roam freely in the space of imagination.
What we therefore ought to realise is that the million-dollar view is the bait of a modern trap – its fatal destiny, most tellingly settled by T.S. Eliot, is simply to be “distracted from distraction by distraction”.
Xing Ruan is professor of Architecture, Associate Dean International and Director of Architecture, UNSW Australia and author for The Conversation.
He can be contacted <a href="https://theconversation.com/profiles/xing-ruan-219197" target="_blank">here</a>.
 
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Why the million-dollar Sydney view is bad for our body and our soul

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Sydneyï¿½s residential vacancy rates in Inner Sydney have remained tight, according to data released by the Real Estate Institute of New South Wales.
The December 2015 REINSW Direct Connect Vacancy Rate Survey saw the number of properties for rent remain steady at 1.8 per cent, as seen in November 2015.
REINSW President John Cunningham said a large number of developments were waiting to be competed in inner Sydney.
ï¿½Stock levels remain low in some of Sydneyï¿½s most popular areas and this is set to continue until the completion of many large developments which are underway,ï¿½ Mr Cunningham said.
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Vacancy rates in outer Sydney rose 0.2 per cent to 1.9 per cent, while middle Sydney rose 0.7 per cent at 2.4 per cent due in large part to lower response rates in this area caused by the holiday period.
ï¿½Innerï¿½ includes suburbs in the following LGAs: Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra.
ï¿½Middleï¿½ includes suburbs in the following LGAs: Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.
ï¿½Outerï¿½ includes suburbs in the following LGAs: Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong.
Availability in the Hunter region continued its decline with a fall of 0.2 per cent at 2.3 per cent.
Newcastle was down 0.3 per cent at 1.8 per cent.
In the Illawarra the overall vacancy rate fell 0.1 per cent to 0.9 per cent despite a rise of 0.4 per cent in Wollongong to 1.5 per cent.
In the regional areas New England rose 0.2 per cent to 3.3 per cent, Albury added 0.8 per cent to 3.2 per cent and the South Coast was up 0.3 per cent to 1.7 per cent.
Northern Rivers dropped 0.6 per cent at 0.9 per cent and Coffs Harbour was down 0.8 per cent at 1.7 per cent.
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ï¿½
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Inner Sydney vacancy rate remains tight: REINSW

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Events in the world’s two largest economies look set to dominate proceedings in 2016. 
The scale of the slowdown in China and the speed of further US interest rate rises will determine the performance of property markets across developed and emerging markets alike over the next 12- 18 months. 
Last year we correctly anticipated that Sydney and New York would outperform in 2015 rising by 5%-10%. 
Sydney has exceeded expectations, prime prices in the city look set to end 2015 15% higher. 
At 5%, price growth in New York has been strong but mitigated to some extent by the strength of the US dollar which has curtailed foreign demand. 
By the end of 2015, we expect the strongest and weakest performing prime markets to be separated by around 20 percentage points, in 2016 we forecast this figure will slip to 15 points as price growth converges. 
Whilst luxury price growth looks set to converge, monetary policy globally is likely to follow a divergent course. 
The US and UK will be tightening monetary policy whilst the Eurozone, Japan and China are expected to either loosen policy further through additional stimulus measures or are likely to stick to the status quo in policy terms.
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This year our Risk Monitor assesses the likelihood and impact of ten key scenarios on each of our cities. 
As we take the pulse of city markets in December 2015, it is perhaps no surprise that the Fed’s recent rate rise and the impact of terrorism/geopolitical tension on the world’s top cities, are currently considered the highest risks to luxury city markets. 
In previous years, the Eurozone and its potential break-up was the top threat to economic and property market stability but jitters over its demise have subsided as the ECB has announced an extension to its QE programme. Instead, emerging markets and the risk of potential deflationary cycles represent the major headwinds for the global economy. 
For most cities, low income growth and a slowing domestic economy are considered the lowest risks to luxury markets. 
There is a chance that the recent 0.25% US rate rise and resulting strong dollar could spark a new wave of safe haven capital flows from emerging markets to first tier luxury residential markets. However, with new supply in several markets expanding (Hong Kong, London, Miami, New York) we think it’s unlikely we will see prices respond in the same way they did post-Lehman. 
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Of the ten cities analysed in our forecast, only three are expected to see prime prices decline in 2016; Hong Kong, Singapore and Paris.
In both years, Sydney is expected to come out on top, although the pace of price growth is expected to slow from 15% year-on-year in 2015 to 10% in 2016. Australia’s economic slowdown, weaker stock market performance in recent months and the introduction of foreign investment fees explain the lower rate of growth in 2016.
Only London, Paris, Geneva and Singapore are forecast to see stronger price growth (or a slower rate of decline) in 2016 than in 2015.
London’s upturn is marginal, from 1% in 2015 to 2% in 2016. Higher transaction costs (a 3% increase in stamp duty for buy-to-let properties and second homes), political risk around the Mayoral election in May, and ongoing affordability concerns explain our muted forecast.
The recent terrorist attacks in Paris will undoubtedly affect buyer sentiment and will mean some buyers delay investments. With a Presidential Election less than 18 months away, however, we do not expect any radical shake up to the tax structure for foreign buyers and the city remains competitively priced compared to other top global cities.
Overall, prime prices across all ten cities are, on average, expected to have increased by approximately 3% in 2015 but average annual growth is forecast to slip to 1.7% in 2016. This confirms our view that lower returns will become the norm in the short to medium term.
Of the cities analysed, Hong Kong is forecast to overtake Singapore as the weakest-performing luxury residential market in 2016. A number of new developments are due to come to the market in 2016, this new supply coupled with a strengthening HK Dollar (pegged to the US Dollar) will see prime prices soften.
The price decline seen in Singapore’s prime residential market is expected to persist at least until the end of 2016 following the government’s assertion that it has no plans to relax its property market cooling measures. However, the drop in price of luxury properties has presented pockets of investment opportunities. We expect sale volumes to increase in 2016 and, due to the shrinking inventory of high-end homes, price falls within the prime sector will be less pronounced than those across the island as a whole. 
In the current climate of heightened political tension and ongoing tax fluctuations, Monaco’s status as a private and secure retreat continues to appeal to the world’s wealthy. With supply severely constrained on the two-mile wide principality we forecast steady price growth of 5% in 2016 as demand and sales activity picks up.
The Geneva market, along with Switzerland as a whole, has been characterised by levels will keep prices from rising over the next 12-18 months, hence our forecast of 0% growth in 2016, but more stable trading conditions seem likely in 2016 and beyond.
In 2015, the demand for New York’s luxury homes cooled from the frenetic pace observed in 2013 and 2014 due to the strength of US dollar and weaker economic conditions worldwide, although it is not expected to impact price trends until 2017. With the US federal and presidential elections due in November 2016 both New York and Miami are likely to see buyers adopt a wait-and-see approach.
South American currencies and the euro will influence demand/capital flows.
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Liam Bailey is global head of research and Kate Everett Allen is international residential research Knight Frank. They can be contacted <a href="https://www.knightfrank.com/research/prime-global-forecast-2016-3450.aspx" target="_blank">here</a>.
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With 10% price growth Sydney tipped to lead the world in 2016: Knight Frank

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The Christmas break is often a time when Australian expatriates buy properties back in Australia to eventually occupy as their home when their overseas assignments end. 
"We expect given the low Australian dollar, that this summer will see many more expats actively looking for a property back here in Sydney," estate agent Vicki Laing noted. 
"There are great buying opportunities for cashed-up expats given the softening state of the Sydney market."
The Australian dollar briefly dipped this year below US70¢ for the first time since April 2009, down from US81c in January 2015, and at US$1.10 in mid-2011. It was around 71c in mid-December.
Many see it going and staying in the 60s during 2016.
Vicki Laing said while the low dollar was having an emerging impact on the willingness of Australian expats to buy, there were many familial influences always motivating them to buy property in Australia including schooling issues.
"These are not influenced by the state of the dollar," she said.
Expat interest is beginning to emerge in select pockets highlighted in early spring when three of the five registered bidders for a Belle Manly auction offering were expats.
It sold for $4,550,000 under the hammer with the buyer from Singapore beating buyers from the UK and the USA for 8 Bower Street overlooking Cabbage Tree Bay.
But many agents aren't seeing any increase in expat numbers.
"I would like to say that the expats are back in strength given Australia’s currency is now at a six year low however that’s simply not the case," Mosman Richardson &amp; Wrench agent Robert Simeon said.
 "With the Australian dollar weaker, property is around 25% cheaper than the A$0.94c it was just 24 months ago for those who are paid in foreign currencies," Robert Simeon noted.
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Lower Aussie dollar tempting expats to buy back home

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The future is a different country and 2016 will certainly be a different place to the year just ending.
As Sydney’s boom ends, other locations around Australia are stepping up as locations poised for price growth. Success in property investing will depend, as always, on buying in the right places.
But there are a number of key steps investors need to take before considering where they might buy in 2016. Here’s my five-step process to stay safe and do well in the year ahead. 
1 Develop a plan
Most wannabe investors start the process with the search for properties to buy. They’re destined to fail from the very start.
No one should start looking online for properties before taking a series of steps leading to that point. There needs to be a plan, which should contain goals, strategies and tactics.
If you don’t know the end game – your ultimate goal – it’s difficult to develop a strategy for getting there.
Part of the planning process is understanding yourself. I receive emails every day from people who bought investment property in a resources-related location and now are freaking out because the market is down. These kinds of locations are always volatile and most investors don’t have the temperaments or financial means needed to ride the troughs while they wait for the peaks.
There are myriad ways to invest in real estate. Most people think passive investment – buy a property and find a tenant – but there are other options. The investment technique you choose will dictate what you buy and where you buy it.
2 Be willing to pay for quality research and good advice
All of the truly successful investors I know, people with 20, 30 or more properties, spend money to make money. They treat property investment as a business - they spend on advice from experts and on good research sources before making any buying decisions. 
The proposition of most wannabe investors is this: Yes, I’ll spend $500,000 buying an investment property, but No, I won’t spend $50 on a research report, and I won’t spend $500 on an independent valuation to make sure I’m paying the right price and I certainly won’t spend $5,000 accessing specialist advice on how to invest wisely and build a property portfolio. 
It’s the worst kind of false economy. 
3 Build a team 
Part of the process outlined in step 2 is building a team of experts. They include mortgage brokers, research specialists, property advisors who can help develop strategies, accountants who understand real estate investment (many don’t), specialist lawyers and depreciation experts. 
You need a team of consultants you can go to for quality advice. Refusing to spend money on these things is another example of false economy. 
4 Education and research
It’s alarming how little the average punter knows about real estate. They’re proposing to spend hundreds of thousands of dollars on something about which they know nothing, other than vague impressions absorbed from media.
Research is the foundation of all successful investment strategies. It takes time and if you don’t have the time, you need to be willing to spend money buying good research. If you’re unwilling to spend the time or the money, forget about property investment. 
I often tell audiences a key part of the research process is to stop reading newspapers. Newspapers are full of misinformation, much of it sensational negatives, about residential property.
Right now, mainstream media is running simplistic and misleading story lines such as: the boom is over, the bubble is about to burst, no one can afford to buy, etc. The reality is that, while Sydney’s boom is winding down, there are many locations around the nation which will have growth markets in 2016 and beyond.
People should read specialist sources of real estate information – like Property Observer – where they can access information and opinions from people with genuine credentials.
4 Look for locations with the right fundamentals. 
It’s no accident that some locations out-perform on capital growth. Areas become hotspots with superior growth for clearly defined reasons. 
Investors might consider why Sydney has had three years of rising prices, while most parts of Australia have been dormant or going backwards. Sydney boomed for specific reasons – and record low interest rates have had little to do with it.
Four years ago New South Wales had one of the weakest economies in Australia. Today it’s the clear No.1, by a considerable margin. Sydney’s boom fed off that.
What changed? In 2011 the worst state government in the history of Australia was tossed out in a landslide election defeat. The new regime started governing to reactivate the state economy. They started spending money on infrastructure around Sydney and today tens of billions of dollars are being poured in roads, rail links and hospitals. It’s had a massive impact.
Another factor is that Sydney had 10 years without any major price growth before 2013. From 2004 to 2012, prices had risen only about 15% - but rents had increased an average 70%. It had become cheaper to own real estate than to rent it. The city was primed for an explosion of buying and price growth.
Many things drive real estate markets but one of the most influential is infrastructure – both existing and new. Areas with good infrastructure – transport links, schools, medical services, jobs nodes – will always be solid performers. Areas with that, plus spending on major new infrastructure, will have additional impetus.
5 Beware the high-rise unit markets.
The greatest danger for investors in 2016 will come from buying real estate in markets that are oversupplied – or heading for surplus.
Primarily that means the high-rise apartment markets, where developers are building towers of units destined for sale to overseas investors. It will lead to rising vacancies and falling rents (leading to falling values) in specific locations.
The danger markets include central Melbourne, central Brisbane, central Perth and the beachside suburbs of the Gold Coast.
For success in 2016, stick to the genuine residential markets. Buy established dwellings in suburban markets – and always check local vacancy rates and also building approval data. A location may have a 2% vacancy rate, but if building approvals doubled in the last 12 months, there may be oversupply in its future.
In simple terms, the best buying in 2016 for future growth will be found in Brisbane, Adelaide, Hobart, parts of Melbourne and selected regional centres, including the Gold Coast, the Sunshine Coast, Cairns, Port Macquarie, Newcastle and environs, Albury-Wodonga, Geelong and Bendigo.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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As Sydney’s boom ends, other locations step up: Five tips from Terry Ryder

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Home values in Sydney have shown incredible growth over the past three-and-a-half years, notes estate agent John McGrath in his latest Switzer blog. 
Sydney’s median home values (all properties combined) have risen by 48% since the growth cycle began in May/June 2012, latest figures from CoreLogic RP Data reveal.
By comparison, Melbourne is up 31.5% over the same timeframe, with Brisbane next at 15%.
Among the other capitals: Darwin 12.6%; Adelaide 10.9%; Perth 10.7%; Canberra 9.6%; and Hobart 6.3%.
On a national scale, it’s been a two-tier market led by the East Coast since 2012, he says.
But now things are slowing down.
"Sydney has cooled but I’m not concerned. What is really important to realise is that Sydney will not stop growing in value, it’s just going to settle and return to a normal long-term pace of incremental growth," says McGrath.
"Yes, I think it’s fair to say the boom in Sydney is probably over. Auction clearance rates have dipped from the 80% band mid-year to the 50% band now and that’s quite a drop. Of course, supply has increased over Spring but that alone doesn’t explain a 30% decline in clearances. The market is simply cooling down now and that’s a really good thing." 
After such a long run of growth, some consolidation might be expected. New price benchmarks have been set for all types of properties right across the city and it might take a while for those prices to be cemented in, he says.  
According to him, three major factors have slowed Sydney down: 
1. A tightening of lending criteria for investors has had a significant impact, as investors have been a driving force in this boom
2. Many investors who still meet lending criteria are now looking outside Sydney. When you get rapid capital growth, rental yields inevitably decline and that’s the case in Sydney, with houses yielding 3.2% and apartments 4.1%.  Brisbane offers the highest yields of the major capitals at 4.3% for houses and 5.3% for apartments – and more importantly, Brisbane has greater scope for imminent capital growth 
3. Real estate markets are cyclical. At some point in a growth cycle, every market will reach a peak and plateau. 
When markets begin to cool, it’s inevitable that there will be small drops in prices month-to-month and that’s what happened in Sydney in November. 
The median house price fell -1.5% and apartments -0.7%.
But there’s no need to be too concerned as this was expected as this is normal at the end of a boom, he says.
The important thing is to distinguish between the end of a boom and the end of a growth cycle. It’s the end of the boom, not the growth cycle, he concludes. 
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