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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

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

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

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

WM Residences fills gap in Mordialloc townhouse market

Sydney

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The unusual Hollander House, the Antonio Gaudi-style home at Newport on Sydney’s northern beaches, has been sold.
The hand-formed ferro-cement house is without question one of the finest examples of true organic architecture in Australia. 
<div class="image-frame image-650w366h"><img src="https://resources3.news.com.au/images/2015/01/22/1227193/470311-8f0e4fdc-9f74-11e4-96f4-b3bf448e0f0c.jpg" alt="Hollander House takes inspiration from the adobe buildings of Africa and the southwest Un" width="650" height="366"></div>
Hollander House takes inspiration from the adobe buildings of Africa and the southwest United States. 
"Hollander House is free form and highly contemporary and will appeal to those who think different," the marketing from<a href="https://www.modernhouse.co/listings/hollander-house/" target="_blank"> </a><a href="https://www.modernhouse.co/listings/hollander-house/" target="_blank">Modern House</a>, a specialist estate agency for architect-designed residences, suggests.
No formal price guidance had been issued, but an ambitious $1.5 million had been mooted in both the local papers.
The current owner is Californian-born interior designer Nancy Renzi of Renzi Design. Newport is situated 31 kilometres north of Sydney’s CBD.
The property at 81 Grandview Drive was designed by David Hollander and built between 1969 to 1971 following the contours of the land like a giant rock formation.
"It evokes memories of Antonio Gaudi’s Barcelona architecture with the optimism of the future, think Zaha Hadid but with texture," the marketing suggested.
It first featured in Australian House and Garden, September, 1971, then voted one of the top five houses of the year, Australian House and Garden, 1973. Vogue Australia featured it in 1975.
Hollander developed a floor plan enveloping three levels beginning at the entrance hall and office, continuing through the living area to the kitchen/dining area, and ultimately ascending to the casual recreation room at the highest elevation.
His elliptical walls have curves which he thought were correct aesthetically, having found a heavily treed allotment just below the crest with a restrained excavation of the site for his new home. 
Recent additions to the design include an outdoor bath in the private deck from the main bedroom and a large entertaining deck off the kitchen with an outdoor fireplace as a centrepiece. There is 180 square metre internal space for the house engineered by E Perry and built by B A Moore on the 904 square metre block.
Hollander designed it for his own use and lived there for 14 years. Stephen and Meredith D'alton sold the house in 1990 for $230,000. It last traded at $860,000 in 2011.
<img src="https://www.modernhouse.co/wp-content/uploads/2014/06/FLOOR-PLAN_Portrait_HOLLANDER-HOUSE-728x1030.jpg" alt="FLOOR PLAN_Portrait_HOLLANDER HOUSE" width="728" height="1030" data-original="https://www.modernhouse.co/wp-content/uploads/2014/06/FLOOR-PLAN_Portrait_HOLLANDER-HOUSE-1273x1800.jpg">
David Hollander trained at the University of Sydney in the mid-1960s, later joining the Canberra office of Towel Rippon and Associates before accepting a position with the Sydney practice Devine Erby Mazlin (today DEM) in 1974. 
Some of Australia’s most celebrated circular-plan buildings include Roy Grounds’ Australian Academy of Science building at the Australian National University, Canberra (1956) and on a domestic scale, Peter Muller’s dome-roofed Kumale, in nearby Barrenjoey Road, Palm Beach (1955).
Newport, which sits between the Pacific Ocean to the east and Pittwater to the west, is a 20 minute drive to Palm Beach or Manly. 
 
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jchancellor-FAypfDUnLy

Organic 1970s Hollander House, the Gaudi-style home at Newport, sold

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Dwelling prices sit around 33% higher than the last peak, but is that a Sydney-wide boom or indeed bubble?
The catchup growth in the past year has been at around 15%, but over the past decade at 5% annually, which was exceeded by Darwin (7.4%), Melbourne (6.4%) and Perth (6%).
There is no doubting many sales in many suburbs are seriously overpriced. I would call them bubble prices. There was a Maroubra sale where with a coat of paint difference a $1.46 million sale of a two bedroom semi on 310 square metres had last sold at $1 million in March 2013.
I couldn't spot the $460,000 difference. 
The silly prices could easily result in any exit - perhaps even over as long as the next decade - in tears given some buyers are seriously over paying currently.
If they want to keep it has their longtime, forever family home, the exuberance won't be as apparent longterm as if they were investing in a reckless pursuit of yield, frustrated by what returns they can get elsewhere.
Rental markets are softer, and looming construction supply will see further softening.
But it should be noted there are home sales and market segments where the market is yet to bounce to any significant extent - especially prestige homes where Chinese buyers are absent and from the indulgent coastal beach home market unless Justin Hemmes is present.
Title Tattle turned up to a recent weekend Queen Street Woollahra auction - where the only bid came from the McGrath auctioneer Scott Kennedy Green.
He had tried to get $7.5 million plus interest, and passed it in on a $7.2 million vendor bid. The sandstone, semi-detached 1867 Victorian terrace set on a 417 sqm parcel close to the Woollahra Village featured in the Willem Rethmeier and Jenne Reed Burns 2000 book, Private Sydney after Elizabeth Wadsworth's renovation. Elizabeth Wadsworth popped into the auction from next-door where she has wanted $8 million plus for her 1850s terrace, St Aubyn since last year.
Not one attendee at the 188 Queen Street auction of apparent Asian descent, either fourth generational or fly in. 
They are all busy buying up in the re-emerging Bellevue Hill and Double Bay. Eventually disappointed underbidders from these adjoining suburbs will help underpin the Woollahra recovery, but not yet.
Last month Title Tattle reported the mining heiress Sarah Louise Fudge sold Spicer House, Woollahra for $5.5 million.
Her landmark home in Woollahra was listed $5 million plus hopes given her relocation to Hollywood. 
The 1886-era residence Spicer House traded in May 2011 for $5.5 million.
Remember the former tennis champion Pat Rafter sold his Woollahra terrace for $2.4 million late last year.
The Wallis Street contemporary three-bedroom terrace cost $2.35 million in 2007, so price growth didn't cover the stamp duty over the seven year period.
The Noosa-based sportsman would have been wiser retaining his Sydney home on Hopetoun Avenue, Mosman which was sold in 2007 for $7.75 million. Onthehouse website cautiously suggests that Mosman home could be worth $10.6 million now.
But Chinese interest in Mosman is light compared to say Epping.
Last month 10 Hermington Street, Epping sold at $1.1 million, some $70,000 over reserve, which shows to me that over the top sale prices are in decline. But the auction was significant as there were 17 registered bidders, 11 of whom took part.
Low interest rates have encouraged many more buyers into the market, and as long as rates stay low, not withstanding APRA's macropridential attempts, local buyers will try their luck.
And if the RBA succeeds in being the dollar down, then foreign buyers and expats will underpin the market. 
Of course once rates rise then it will be regrets for many, despite the banks saying everyone is ahead of their repayments and that they are ensuring loans are being processed with anticipated higher debt borrower capabilities.   
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Woollahra heads the suburbs the 2015 boom has bypassed

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<div class="cq-article-content-paras section">
Three more surplus social housing homes in Millers Point have been sold.
The three properties sold through Raine &amp; Horne Double Bay included 32 Kent Street, an 1870s, two-bedroom terrace at $1.5 million.
</div>
<div class="cq-article-content-paras section">
Another 1870s row house, at 56 Kent Street, sold for $1.68 million.
At 42 Kent Street, (below) with harbour views, an above-expectation $2.2 million was achieved by the NSW government.
<a href="https://www.realestate.com.au/photogallery_new.ds;jsessionid=F79541AF742788A3D14831BBBA1E6CCB?id=119722987&amp;theme=rea.sold" rel="photos" data-id="119722987"><img src="https://i3.au.reastatic.net/456x342/9cbf5d600f98d6e769e1dcdacaa950b9df685688c68546deaead803574f0a876/image2.jpg" alt="42 Kent Street, Millers Point" title="42 Kent Street, Millers Point" data-index="2"></a>
Next up are 18 Trinity Avenue, 34 Kent Street and 54 A&amp;B Kent Street.
More than $40 million has been secured in the sell-off.
Last month Grimes Cottage, at 50 Argyle Place in Millers Point secured the <a href="/expert-insights/buying/grimes-cottage-millers-point-sold-by-nsw-state-government">highest price yet in its staggered former social housing selldown at $4.23 million</a>.
</div>
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More Millers Point terraces sold off by the NSW government 

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Sydney is one of the most resilient property markets in the world, so estate agent John McGrath says buyers and sellers need to ignore the bubble commentary. 
"Sydney has proven itself over and over again to be one of the most resilient property markets in the world, with long-term fundamentals that form a bedrock of strength for the market." 
But he says the boom is definitely going to end at some point. 
"That doesn’t mean price growth will end, it will continue on but in a less spectacular fashion."
He told the Today Show's Lisa Wilkinson that the Sydney market still had "a few percent to go."
"The Sydney and Melbourne markets are red hot…probably close to where they are going to go in this cycle.
"I think we are close to the top of the market.
"Don't panic, don't over stretch your budget," he advised.
When asked what will take Sydney out of the boom? He listed a few things on <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/why-sydney-prices-wont-fall/" target="_blank">his switzer blog</a>.
<ul>
<li>The market will at some point reach a natural peak – prices will get too high and buyers will lose interest. This isn’t happening yet, partly because finance is so cheap.</li>
<li>Investor activity, which has been a major driver of Sydney’s boom, will taper off as yields become too low.</li>
<li>Interest rates will begin rising at some stage as the economy improves and this will put the brakes on activity – but this is a long way off. </li>
</ul>
"It’s a bit unusual to have such a long stretch of significant price rises," he conceeds.
"But it doesn’t mean a calamity awaits us. 
"A big part of the growth we’re experiencing today is simply catch-up after several years of little growth. 
"Everyone needs to calm down and remember that this is a solid, high performing property market in a truly international business hub and in my opinion, it is going to stay that way for a long time to come. 
He says a big fundamental is that Sydney is vastly undersupplied with natural borders that limit the amount of new homes that can be built, yet demand keeps on rising due to the city’s strong population growth and increasing engagement from overseas buyers. 
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No calamity coming: Why Sydney still has price growth in 2015: John McGrath

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Australian Property Monitors (APM) has released a list of results from 657 auctions in Sydney for the weekend of 30 May. The clearance rate was 87%.
<a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.
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mick.cee-iDmgDDAmu8

APM's Sydney auction results for May 30 weekend

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The Robert family have finally sold their impressive Mount White property for $3.4 million.
The 20-hectare Central Coast sanctuary - a four-bedroom home built from sandstone, glass and timber with views across the Hawkesbury River - was initially listed with $5 million hopes in 2009.
The open-plan architecture features local sandstone and red gum timbers. It is located about an hour to Sydney's CBD and 25 minutes to Gosford.
Around $4 million was sought by early 2010 for the trophy home with its dining and entertaining pavilion adjacent to its glass edged pool.
There is a two-bedroom guest house and an artist's studio. It has been a holiday rental recently.
It comes with approval for a helicopter landing pad. 
Most recently <a href="https://www.realestateview.com.au/Real-Estate/morgans-road-mount-white/Property-Details-sold-residential-8037978" target="_blank">229 Morgans Road, Mt White</a> came with $3.6 million plus hopes through Brett Hunter at Raine &amp; Horne Terrigal.
The land traded for $490,000 in 1999.
Mount White's best known resident is adman John Singleton, who bought his initial holding in 1994.
The highest sale previously was $1.3 million in 2013.
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NSW Central Coast Mount White $3.4 million trophy home sale

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Wanganui, the grand Longueville trophy home residence, sold hours before today's scheduled auction for close to $6.5 million.
The home with its blue turret sold for the first time in 57 years - bought by architect David Reuben Lennon in 1958 for £13,500.
Set on a 2087 square metre holding at<a href="https://www.realestate.com.au/property-house-nsw-longueville-119650891"> </a>58 Lucretia Avenue, the 1893 Wanganui had a price guide of $6.5 million plus with just a slither of land tracking down to the water.
Its blue corner turret with an ogee cupola was its defining feature, built in 1893 by architect C J Ross.
While its much needed renovation dampened any above expectation price escalation, its sale topped off the final weekend of a stellar Autumn auction season.
APM reported the preliminary weekend clearance rate as 87.4% in a fillip on the recent fortnight. 
Northing under 80% for almost all of the autumn selling season. Last weekend's revised success rate was 83.4%.
"The Sydney home auction market entered May in record breaking form and recorded an astonishing 89.2 percent clearance rate on May 9," APM senior economist Dr Andrew Wilson said.
"It appeared just a matter of time before a 90 percent plus weekend result was recorded. 
"But this has not eventuated – so far – with the market weakening over the past fortnight," he said before today's results.
The weekend Sydney was scheduled to host nearly 850 auctions, well ahead of the 750 auctioned last weekend but below the 907 auctioned over the same weekend last year. 
The weekend’s stronger auction numbers reflects some sellers avoiding the Queen’s Birthday holiday next weekend.
Mosman, Cronulla and Pymble were the most popular suburbs for auctions in Sydney with 10 each followed by Strathfield, Hurstville, Epping and Wahroonga with nine each and Baulkham Hills, Chatswood, Menai, Earlwood and Annandale each with eight auctions scheduled.
Sydney’s inner west hosted the most number of auctions with 129 listed followed by the upper north shore with 124, the south 123, the city and east 95, the lower north 81, Canterbury Bankstown 62, the west 60, the south west 55, the northern beaches 44, the north west 42, the central coast 18 and the Blue Mountains with just the one auction scheduled.
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr>
<td colspan="2">
Most expensive
</td>
<td colspan="2"> </td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_0">
<td id="rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">52 Edgecliffe Esp, Seaforth NSW 2092, 5 br House, RW Lower North Shore</td>
<td id="rpMostExpensive_tdMostExpensiveSold_0">$4,425,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_1">
<td id="rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">36 Wentworth Av, Canterbury VIC 3126, 4 br House, Jellis Craig Hawthorn</td>
<td id="rpMostExpensive_tdMostExpensiveSold_1">$3,950,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_2">
<td id="rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">13 Ormonde Av, Millswood SA 5034, 4 br House, Ouwens Casserly</td>
<td id="rpMostExpensive_tdMostExpensiveSold_2">$925,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_3">
<td id="rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">19 Eskgrove St, East Brisbane QLD 4169, 3 br House, RW Ascot</td>
<td id="rpMostExpensive_tdMostExpensiveSold_3">$1,700,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_4">
<td id="rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">9 Geerilong Gdns, Reid ACT 2612, 3 br House, Peter Blackshaw Manuka Pty Ltd</td>
<td id="rpMostExpensive_tdMostExpensiveSold_4">$1,800,000</td>
</tr>
<tr>
<td colspan="2">
Most affordable
</td>
<td colspan="2"> </td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_0">
<td id="rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="rpMostAffordable_tdMostAffordableLocation_0" colspan="2">39/103-111 Longfield St, Cabramatta NSW 2166, 3 br Unit, R&amp;W - Cabramatta</td>
<td id="rpMostAffordable_tdMostAffordableSold_0">$125,000</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_1">
<td id="rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="rpMostAffordable_tdMostAffordableLocation_1" colspan="2">3/6 Hatfield Ct, West Footscray VIC 3012, 1 br House, Sweeney Footscray</td>
<td id="rpMostAffordable_tdMostAffordableSold_1">$220,000</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_2">
<td id="rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="rpMostAffordable_tdMostAffordableLocation_2" colspan="2">5 Glyde St, Albert Park SA 5014, 2 br House, Harris Real Estate - Glenelg</td>
<td id="rpMostAffordable_tdMostAffordableSold_2">$390,000</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_3">
<td id="rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="rpMostAffordable_tdMostAffordableLocation_3" colspan="2">57 Australia 11 Drive, Kensington Grove QLD 4341, 3 br House, ELD Laidley</td>
<td id="rpMostAffordable_tdMostAffordableSold_3">$185,000</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_4">
<td id="rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="rpMostAffordable_tdMostAffordableLocation_4" colspan="2">3/39 Bywaters St, Amaroo ACT 2914, 3 br Townhouse, Luton Properties - Gungahlin</td>
<td id="rpMostAffordable_tdMostAffordableSold_4">$430,000</td>
</tr>
</tbody></table>
 
 
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Longueville turret trophy home sale signals brightening end to Sydney's autumn auction season

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Strike the bells! An undercover Potts Point car space fetched $264,000 at competitive auction tonight.
Set in somewhat dated 1960s block, The Chimes, the Macleay Street price easily exceeded all prior price estimates given the egos involved. It is understood to have sold to an entrepreneurial Sydney CBD medico with an active interest in Potts Point and Elizabeth Bay property.
It was a Sydney record. There are studios for sale from $335,000 in nearby Kings Cross. There is strata commercial studio space around nearby Kings Cross for sale at less.
<img src="https://www.urban.com.au/images/2015/05/28/Screen%20Shot%202015-05-29%20at%208.12.09%20AM.png" alt="">
Residential studios could be expected to fetch $305 plus a week in rent, while an open air, narrow, poled car space might be likely to fetch $70 a week.
There were about 10 keen local buyer participants after bidding opened at $120,000 for the auction rarity sandwiched between the harbour and the central business district.
There were still five in the contest as it approached $200,000. After buyers' agent Janne Sutcliffe dropped out as bidding headed towards $210,000, there were two locals remaining.
"Quarter of a million," was another milestone bid of the eventual buyer, with the room collectively gasping, many clutching their cocktail hour pearls.
Spilling out onto the plane tree-lined Parisian end of the strip, one high-rise apartment owner attendee brought his real estate loving schnauzer.
The sale through<a href="https://www.propertyobserver.com.au/https://www.randw.com.au/property/0000264730" target="_blank"> Richardson &amp; Wrench agents Greg McKinley and Luke McDonnell </a>reflected around $10,000 a square metre for the longer then normal 26 square metre space, but single car space.
There is a right of way across the title, which is about 10 metres long by about 2.4 metres wide at 45 Macleay Street on the McDonald Street corner.
"It was certainly not the norm," selling agent Greg McKinley told Property Observer in an after auction attempt to quell bragging among the boastful car parking cognoscenti tomorrow morning at local coffee shops. And possibly wider commentary from mainstream media who could be relied to misconstrue.
"It was something of a one off…. I was not expecting to see a 2 in front of the price," he said.
Auctioneer Peter Baldwin said such was the interest there had been been bets on the price from locals in the 'hood. 
The 10-storey, 80 unit Chimes strata block was registered in 1964 when the standard EJ Holden cost the equivalent of $2102.
The car space previously traded with a studio apartment, but prior to that sale sold at $60,000 in 2011 on its own and $31,000 in 1997. 
<img src="https://www.urban.com.au/images/2015/05/28/Screen%20Shot%202015-05-29%20at%208.11.51%20AM.png" alt="">
The last sale in the secure complex with two storey parking was adjacent at $90,000 in an off market deal last year.
Last October another residential inner city car space fetched a then record $210,000 at auction.
The $210,000 Elizabeth Bay car space was sold at Laing Real Estate auction, reflecting 13% annual price growth over the past 37 years.
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The inner city precinct has been described as the toughest in Australia to find a car space with almost 25,000 residents living in a 1.89 square kilometre footprint which is a <a href="/news/act/tyler-br-l-e-says-empty-canberra-cbd-needs-urban-renewal-and-possibly-udon-bolognese-eatery">restaurant mecca</a>.
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The residents own close to 6000 vehicles but with there are just 4300 on-street car spaces available, Sydney Council data shows. Many of the older buildings have limited, onsite, lease only car parking and council restrictions in more modern buildings often ensure the car spaces can not be transferred to outsiders.
Until tonight the Sydney record, as Property Observer concludes, was a 16 square metre single car parking space at North Bondi sold for $240,000 in 2010.
 
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Inner city car parking convenience costs record $264,000 at The Chimes, Potts Point

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The redundant Mosman investment property of Australia’s richest woman Gina Rinehart sold at a $300,000 loss.
It was the former Mosman home of her daughter, Hope Welker.
It had cost $5.4 million in 2007, and the paperwork shows its recent sale was at $5.1 million to a Chinese couple.
Another $300,000 in NSW stamp duty would be added to the expenses bill, along with land tax and selling expenses.
Its March sale was undisclosed, pre-auction on its second sales marketing attempt.
The contemporary Bradleys Head Road house had been listed <a href="/news/gina-rinehart-relists-redundant-mosman-house">both times through the Ray White Lower North Shore</a>.
Hope Welker and her husband, Ryan, vacated the Mosman property as they departed for New York in 2011, around the time the family dispute over control of the family's mining interests became public through litigation.
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Gina Rinehart's $300,000 Mosman house loss

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The health club chain Fitness First will open at Sydney's waterfront Barangaroo development. 
The fitness centre will also come with a wellness centre proposal said the chief executive Andy Cosslett of Fitness First, which is owned by US hedge funds Oaktree Capital and Marathon
It will be the chain's seventh central business district club, with the group telling the Australian Financial Review it will invest about $4 to $5 million in the venture. 
"We are delighted to welcome Fitness First and their exciting wellness initiative to Barangaroo to complement the precinct's public benefits such as 50 per cent open space, and kilometres of waterfront  pedestrian and cycling paths," Lend Lease managing director of Barangaroo south, Andrew Wilson, said. 
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