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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Swiss fashion house Bally will open a new marketing and showroom space in Sydney's CBD after signing a five-year lease.
Located on level four, 99 Elizabeth Street, the 146sqm suite offers views of Hyde Park. 
The annual rental is $846 gross per square metre.
CBRE's Rosie Origlia negotiated the lease on behalf of landlord Tackelly No.8.
“The property is well suited to accommodate the retailer's showroom and marketing office, while the design elements of 99 Elizabeth Street are also in line with the Bally brand,” she said.
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jchancellor-FAypfDUnLy

Bally takes Sydney CBD office lease

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Champion swimmer Geoff Huegill, and his wife Sara, have now listed their three-level, four-bedroom Darlinghurst terrace for August 6 auction.
<img src="https://i3.au.reastatic.net/800x600/2d6664d430e542a15b0394ed2f35acf7e646ad65ce49253486049849a52a4fd3/main.jpg" alt="453 Liverpool Street, Darlinghurst" title="453 Liverpool Street, Darlinghurst" data-index="0">
The 133 square metre offering cost $1.97 million in late 2011. They bought it and still own 60% percent of the terrace, after it<a href="/news/geoff-huegill-and-wife-sara-hills-list-darlinghurst-terrace"> was bought in partnership with Geoff Huegill’s in-laws</a>.
<img src="https://i2.au.reastatic.net/800x600/831635f6a9bb62fb96d84ff521055ebe2e2924bf1198cd1f5480dd6fe9601139/image3.jpg" alt="453 Liverpool Street, Darlinghurst" title="453 Liverpool Street, Darlinghurst" data-index="2">
Sara Huegill, nee Hills, was in the Sweaty Betty PR fashion firm prior to their 2011 marriage.
The couple reportedly want mid-$2 million.
<img src="https://i4.au.reastatic.net/800x600/ba6ebe95ec724a0407cf388666e13b4be6e2b8db929d3673318d29d2896c4571/image5.jpg" alt="453 Liverpool Street, Darlinghurst" title="453 Liverpool Street, Darlinghurst" data-index="4">
A $1,565,000 sale nearby at 473 Liverpool Street, Darlinghurst was secured earlier this year with three bedrooms, two bathrooms. 
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August auction for Darlo's Geoff Huegill and Sara Hills

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Headingley House, the Woollahra home of John Spender QC, has been sold, price undisclosed.

It was his diplomat father, Sir Percy Spender, who bought it from the Kater pastoralist family in 1949 for £11,676.

The dapper Queen's Counsel, who now does commercial arbitration, moved into <a href="https://doublebay.ljhooker.com.au/MMZF93/11-wellington-street-woollahra" target="_blank">the stunning Georgian-style Wellington Street residence</a> in 1985.

While he was the Member of the House of Representatives for the seat of North Sydney - before Joe Hockey's election - he would occasionally take the trip from his eastern suburbs home to the lower North Shore electorate in his late father's white Rolls Royce.

[smartcode_project:default project_id=7758]

His politician father, an eminent jurist, had left his bar practice in 1949 and entered, as member for Warringah, the federal political arena when the Liberals took office and Sir Percy Spender became minister for external affairs, during which he negotiated the ANZUS Treaty.

He then was posted to Washington in 1951 as Australian ambassador and in 1958 was appointed Australia's first judge of the International Court of Justice. In 1964 he became its president.

The Spenders' overseas posting spanned 16 years.

The Kater pastoral dynasty headed by Sir Norman was centred around the 1900 Federation Cudal property Nyrang. Sir Norman, who was trained as a doctor, then took over the Egelabra Stud at Warren in 1910. He died in 1965.

[smartcode_project:default project_id=32227]

<a href="https://exclusiveproperties.com.au/11wellington/home" target="_blank">The LJ Hooker marketing</a> noted the Woollahra house was built in the 1880s and then redesigned by acclaimed architect Professor Leslie Wilkinson in the 1930s.

On listing, selling agent Bill Malouf said he was not indicating a public price guidance, pointing to several recent Woollahra trophy home sales that all were in double digit millions instead.

The street talk is $13 million plus. 

 
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Headingley House, Woollahra trophy home sold by John Spender

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GUEST OBSERVER
Sydney’s white hot property market has defied expert predictions, with median house prices edging close to $1 million as growth and competition accelerates*.  Sydney’s market imbalance – the divide between investors and owner-occupiers – is spurring a social divide between the have not’s and the have more’s.
We have a situation where owner-occupiers are being phased-out as house prices hike. Investors are saturating the market and expanding their property portfolios while first home buyers are struggling to get a foot in the door. 
Of those first time buyers that do successfully buy, many can’t afford to move into their property and are stuck living in a rental. This is concerning, in so far that lending conditions have played a role in this dilemma.
There is also growing separation within the investment community. We have one group of investors that are more mature and astute, while others appear less sophisticated, taking on too much debt and lacking a long term investment strategy. This latter group are more likely to negatively gear their property; but if the market takes a turn and interest rates increase, these investors could face loan repayment difficulties if they’ve given themselves only a small financial buffer.
In December 2014, the Australian Prudential Regulation Authority (APRA) outlined guidelines to lending institutions on steps to reinforce mortgage lending practices**. One of these included requiring investors to pay higher deposits. I welcome this guideline. It is arguably too easy for investors, especially less sophisticated investors, to be approved low rate loans. While I actively encourage property investment, the current ratio is out of kilter, and this will inevitably lead to negative ramifications should nothing change. Not only are some investors at risk of being overconfident, they are snapping up properties that are ideal for first home buyers.
Greater lending prudence is urgently needed. We need incentives that assist Sydney’s first home buyers in entering the market so that they can physically live in their new dwelling, such as fixed, low rate, new home owner mortgages. Tighter regulations for investors are also necessary. I believe investors should pay up to 20% investment deposits. These two measures would at least be a step forward in helping redress the balance.
The influx of foreign investors also doesn’t appear to show signs of slowing down. The Government should seriously consider putting a cap on the number of properties that a foreign buyer can purchase within a new development. Right now, foreign buyers are snapping up development properties in droves, and before the first slab of concrete hits the ground. Australians are also becoming increasingly adaptive to buying off-the-plan, but right now, it’s a case of slim pickings. We need to ensure that there is a residual amount of stock available for local buyers.
The time to act is now. Sydney’s housing market is robust, but when you peel back the layers, there are several issues warranting address, and the market imbalance is a pressing issue. If left untended, the consequences could be significant.
DOUGLAS DRISCOLL is CEO of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
 
*Latest monthly indices by CoreLogic shows the median value of Sydney house prices is $949,800, as at 31 May, 2015. See: <a href="https://www.corelogic.com.au/research/monthly-indices" target="_blank">https://www.corelogic.com.au/research/monthly-indices.html</a>
**Please click here to read a media release on APRA’s guidelines on residential mortgage lending practices: <a href="https://www.apra.gov.au/mediareleases/pages/14_30.aspx" target="_blank">https://www.apra.gov.au/mediareleases/pages/14_30.aspx</a>
 
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Sydney’s high-price property market fuelling social divide: Douglas Driscoll

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The Sydney home of late entertainer Stuart Wagstaff has been sold for $1,165,000 at auction today.
Wagstaff died in March this year aged 90. An investor beat off nine other registered bidders to secure it at above its $1 million official reserve.
<img src="https://i3.au.reastatic.net/800x600/653cae99727960c0e1af797f545237ac51084b379d85ee1cf0408e4bfb678da7/main.jpg" alt="33/37-45 Barry Street, Neutral Bay" title="33/37-45 Barry Street, Neutral Bay" data-index="0">
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The eighth floor apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-neutral+bay-119984653" target="_blank">33/37-45 Barry St, Neutral Bay</a> has two bedrooms, along with a large entertaining balcony with views of the city.
Raine &amp; Horne Neutral Bay selling agent David Buttel had initial $950,000-plus expectations for the top floor 106 square metre Kentwood block offering with car space.
It was the actor's home for eight years, paying $660,000 in 2007 in the 1978 Mirvac-built complex.
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Stuart Wagstaff's Neutral Bay apartment sells

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A former Newtown, Sydney church which hit the market with $2.25 million plus hopes sold at auction today for $2.55 million.
Tibetan Buddhist meditation monks were the buyers with plans for a temple.
Sydney's overall auction result sat at 83.3%, compared to the adjusted 80.2% last week and 69% on the same Saturday last year, according to APM. 
The 158 Australia Street offering sold at auction with five registered bidders through BresicWhitney Glebe agent Chris Nunn <a href="/expert-insights/investing/empty-newtown-warehouse-church-for-july-auction">who suggested it was also suitable for a single residential conversion or a multi-unit development or subdivision</a>. 
It comes with direct access to one of inner Sydney's popular parklands, the Camperdown Memorial Rest Park from its 256sqm residential zoned holding.
Behind its striking brick facade, it retains original industrial warehouse elements.
It was the former church of the Four Square Gospel. The property was listed by investor Theo Onisforou who paid $1.9 million, plus gst, in February this year. 
Last month investment banker Alastair Walton bought a Leichhardt warehouse paying $1.55 million for the former sign warehouse property, at 26 Mackenzie Street.
BresicWhitney recently sold another warehouse – with a heart-shaped swimming pool – in Davies Street, Surry Hills for $7.55 million, a suburb record. 
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Sydney's 83.3% auction clearance rate as Tibetan monks buy former Four Square Gospel church in Newtown 

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Capital growth gains for Sydney are predicted to loose their steam within this financial year with affordability, a stable rent environment and tighter lender financing conditions expected to slow the market.
In releasing the CoreLogic RP Data Hedonic Home Value Index, CoreLogic research head Tim Lawless said it looks likely that the pace of capital gains will remain higher than rental growth which will push rental yields even lower over the coming months. 
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“In the absence of a trigger event, such as a sharp rise in the jobless rate, higher interest rates or an external shock, it is unlikely we will experience a significant correction in dwelling values. However, the longer this run of growth continues across our largest capital cities, the more susceptible the housing market becomes to changes in the economy or broadly across household finance,” Mr Lawless said. 
"It is difficult to imagine Sydney maintaining such a rapid pace of capital gains. 
“Not only is affordability becoming a challenge for many sectors of the market, but yields are substantially compressed, rents are hardly moving and investors are facing tighter financing conditions from lenders."
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mick.cee-iDmgDDAmu8

Sydney property capital growth to lose steam: CoreLogic RP Data

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Professional renovators Gav and Waz, who appeared on the first series of The Block reality television in 2003, have snappily sold their two-bedroom Rockwall Gardens, Potts Point apartment. It was only listed late last month.
It was a ground floor apartment on Tusculum Street advertised on <a href="https://www.realestate.com.au/property-apartment-nsw-potts+point-120052945" target="_blank">realestate.com.au</a> by Richardson &amp; Wrench Elizabeth Bay. They secured around $2,725,000, so possibly secured around $250,000 profit for the duo.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=120052945&amp;theme=rea.buy" rel="photos" data-id="120052945"><img src="https://i2.au.reastatic.net/800x600/4927987fff45b2431ac9aa8f042cc376784a626a3fb04b694aa08379fd410724/image7.jpg" alt="G06/1A Tusculum Street, Potts Point" title="G06/1A Tusculum Street, Potts Point" data-index="6"></a>
The renovation duo settled only last July at a hefty $2.25 million, with renovations completed since on the apartment with two bedrooms, two bathrooms and a car space. There are still trademark Deece Giles interiors since the boys bought from the renown Sydney architect.
<img src="https://i3.au.reastatic.net/800x600/de77c1b00ad9bb49b76435f854d9a20119e636f73fe6782622a2c83b1db64537/main.jpg" alt="G06/1A Tusculum Street, Potts Point" title="G06/1A Tusculum Street, Potts Point" data-index="0">
Now surrounded by greenery, the total floor space, inside and out, is 180 square metres. It comes with outdoor fireplace by Rolling Stone Landscapes, gold medal winners at the prestigious Chelsea Flower Show.
<img src="https://i2.au.reastatic.net/800x600/4311073f62ad842d671b4b094e23b21e3485102865d75ae1a1db9c8ada01cff4/image3.jpg" alt="G06/1A Tusculum Street, Potts Point" title="G06/1A Tusculum Street, Potts Point" data-index="2">
 
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Gav and Waz secure snappy Potts Point sale

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Local and global market conditions are helping Australia become a favourable construction nation, according to Turner &amp; Townsend’s International Construction Market Survey 2015.
Sydney is now positioned at number 10 with New York City taking the first spot for the most expensive place to undertake construction activities in the 35 markets surveyed.
The 2015 survey also ranked Perth at 16, Melbourne at 19 and Brisbane took the 20th spot. 
The <a href="https://bit.ly/icms-2015" target="_blank">International Construction Market Survey 2015</a> analyses input costs – such as labour and materials – and charts the average construction cost per m2 for both commercial and residential projects in 35 markets around the world.
 “The tide is now starting to turn in Australia’s favour with many factors influencing this change," Gary Emmett, the senior economist for Turner &amp; Townsend said.
"These include a falling Australian dollar, a low interest rate environment which makes finance relatively cheap and stable construction costs.
"The winding down of construction within the mining sector is freeing up resources for other sectors including infrastructure, tourism, education and agriculture."  
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A construction nation coming: Turner & Townsend

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Luxury apartment developer Fridcorp, and its partner Wingate, have sold a Sydney apartment site adjoining the EVE development in Erskineville.
Set in inner city Sydney's Erskinville, it sold for more than double the purchase paid less than a year ago.
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The offshore-backed B1 Group has paid just under $70 million to secure the 1.2 hectare site which could accommodate around 230 units. 
Despite the sale, the Melbourne-based Fridcorp says it is "no site-flipper" with fresh plans held by Sydney managing director Paul Fridman.
It is only the second project site Fridcorp has sold in its two decades. Its Melbourne projects often saw joint partners with previous alignments including Trafalgar Corporate and the Crawford Group. 
 "We are committed to our growth in the Sydney market and together with Wingate have seen great success from the launch of Eve in Erskineville and will continue to explore more opportunities here," he said. 
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<div class="cq-article-content-media section">Fridcorp bought the two parcels of land in October last year. </div>
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<div class="cq-article-content-media section">Together with the site where EVE is being built it paid $56 million, with the recently sold unbuilt EVE site accounting for nearly half of that sales figure. </div>
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<a href="/expert-insights/buying/eve-in-erskineville-secures-100-million-in-sales">EVE was Fridcorp's first Sydney development</a>, a sell-out success with all 197 apartments sold off the plan.
The $145 million development is due for completion next year. 
The Sydney-based B1 Group, headed by Anne Bi, already has a number of existing Sydney residential projects but was keen for an inner-city site. 
The deal was brokered by McGrath Projects agents Steven Chen and Michael Chen who negotiated the sale for their buyer within a 48-hour period.  
Paul Ephron, who heads the sites &amp; acquisitions within McGrath Projects, had the off-book listing.
The northern part of the site has approval for 112 apartments and 17 townhouses and the section at the rear comes with an approval pending for 93 apartments. 
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Fridcorp’s first Sydney project, Eve, included one, two and three bedroom apartments, situated on the corner of Eve and Macdonald Streets.
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With interiors from Hecker Guthrie and dKO Architects, <a href="https://www.evebyfridcorp.com.au/" target="_blank">Eve</a> is 250 metres from the train station and 10 minutes to the CBD.
It includes views of Sydney Park to the CBD, wide frontages and balconies, storage space and a communal rooftop leisure deck with private central courtyard.
One bedroom, one bathroom apartments were priced from $525,000; two bedroom, one bathroom apartments from $750,000; two bedroom, two bathroom from $780,000; three bedroom, two bathroom from $1.1 million. 
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