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

Commercial Sales

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A grand former Rushworth fire station has been listed for sale at $105,000.
Located at <a href="https://www.commercialrealestate.com.au/property/11-moora-road-rushworth-vic-3612-2013069765" target="_blank">11 Moora Road</a> the former fire stiation has been one of the towns’ landmarks.
It sits on 1,942 sqm land with main road frontage.
Features includes a large 12m X 12m storage and truck area featuring polished hardwood panelling.
There is also an office area along with a large games room.
The property is approved for Zoned Township which offers possibilities including residential, depot for storage, business or even converted into a function room.
It is listed by Hinchliffe &amp; Greed Real Estate John Lilford.
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j.ballantyne1990-6AQqhLzZaK

Former Rushworth landmark fire station for auction

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A 1930s Dimboola shop located centrally at the main street is for sale for $65,000, the same price it traded for in 2005.
The 290 sqm property at <a href="https://www.realestate.com.au/property-other-vic-dimboola-123838510" target="_blank">112-114 Lloyd Street Dimboola</a> is positioned next to a chemist shop.
It is marketed as an ideal location for the owner occupied or retail commercial investment property.
The shop comprises of a good sized showroom, lunch room and two toilets.
The property is currently leased until December 2016 at $110 per week.
It is offered through Coller Rathgeber agent Garry Price.
<img src="/images/2016/10/18/4%20High%20Street.jpg" alt="">
Recently a three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-vic-dimboola-121766206" target="_blank">4 High Street</a> (above) was sold for $85,000.
A play written in 1968 by Australian author Jack Hibberd brought attention to the Victorian town of Dimboola.
The play, called 'Dimboola', makes fun of a wedding breakfast gone wrong where everything from sectarian issues to tensions among the family of the groom, Morrie, and the bride, Maureen.
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Dimboola main street shop for sale 

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A former fire station in Broadmeadow, the Newcastle suburb, is up for November 5 auction.
Located at <a href="https://www.commercialrealestate.com.au/property/9-belford-street-broadmeadow-nsw-2292-2013116438" target="_blank">9 Belford Street</a> it has a land area of 910 sqm with a floor area size of 320 sqm.
It is at the intersection of Belford Street, Samdon Street and Dixon Street with close proximities to the dining and entertainment precinct of Beaumont Street.
Built in 1925 it is prominently positioned within the inner city suburb of Broadmeadow, it has local heritage significance as the red brown brick building is symmetrical and balances former truck garaging with administration areas and residential living quarters.
As it is in original condition, the building celebrates and maintains many heritage items including open fireplaces, pressed metal ceilings and ornate timber windows. It is ideally facing north, the building is a R4 High Density zoned land and is suitable for residential, childcare, retail or commercial purposes with close proximity to public transport.
The auction is on November 5 and is offered through Colliers International agents Nick Christensen and Matt J Kearney.
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Former Broadmeadow fire station for auction

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A former fire station in Echuca is for sale for $1,050,000.
Located at <a href="https://www.commercialrealestate.com.au/property/245-249-pakenham-street-echuca-vic-3564-2013020704" target="_blank">245-249 Pakenham Street</a> the property sits on a land size of 1,262 square metres.
It features the fire station itself, a shed for storage, residence as well as vacant land.
This property has the potential to be redeveloped (STCA) into a number of different establishments including private residence, retail premises, office spaces, accommodation or even apartment living as it has been approved for zoned commercial 1.
The property is being offered through Century 21 Rich River Real Estate agents Steve Pain and Andrew Lochhead.
Another former fire station is also currently available in the central Victoria town of Stanhope. The property at 48 Birdwood Avenue, Stanhope has been listed for considerably less - it's currently listed for $100,000.
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Former heritage Echuca fire station for sale

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A former fire station in the central Victorian town of Stanhope is for sale at $100,000.
The property located at <a href="https://www.commercialrealestate.com.au/property/48-birdwood-avenue-stanhope-vic-3623-2013069764" target="_blank">48 Birdwood Avenue</a> has a land size of 908 square metres with a 20m x 10m station divided into two large rooms.
A wall of polished pine divides the rooms with kitchenette in both rooms and a ceiling fan in the back room.
There are two water tanks, one 18,000 litres and the other 22,700 litres.
The property is offered through Hinchliffe &amp; Greed Real Estate agent John Lilford.
Another former fire station is also currently available in Echuca.
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Former Stanhope fire station listed at $100,000

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A food factory investment opportunity at Dandenong in Melbourne’s south-east has been sold by Ray White Commercial.
Its $550,000 price reflected a 7.2% yield.
The property leased to Z &amp; W Group (Aust) Pty Ltd at 1/23 Egan Road, Dandenong, was sold to a private investor.
Ray White Commercial Oakleigh’s Ryan Amler said the tenant commenced a three-year lease with a further three-year option in May, 2016, and the property returns net rental of $39,600 per annum.
The property has a building area of approximately 310 square metres and is equipped with freezers, a cool room and other plant and equipment valued at more than $250,000.
“This is a fully equipped food factory that enjoys easy access to major arterials including EastLink and the Princes Highway,” Amler said.
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Food factory at Dandenong sold for $550,000

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The latest research from Eastern Sydney Cityscope shows that commercial property sales have increased in both number and total sales value in the last quarter, according to CoreLogic’s latest report.
For the three months to October 2016, there were 29 sales at a total value of $120.4 million, compared to 26 sales at a total value of $52.5 million for the previous quarter.
The yearly figures, however, have declined, with 125 sales at a total value of $404.8 million for the past twelve months, compared to 191 sales at a total value of $606.2 million for the previous year.
The table below shows sales recorded for the past eight updates of Eastern Sydney Cityscope.
<a href="/images/2016/10/21/Cityscope%20East%20table.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/21/Cityscope%20East%20table.jpg" alt="">
Notable sales listed in the October 2016 update of Eastern Sydney Cityscope include:
<ul>
<li>Angela House, a four-storey office building with retail on the ground floor and parking for 12 cars, at 30-36 Bay Street, Double Bay, which was bought for $20.5 million; 
</li>
<li>A two-storey brick building with retail on the ground floor at 124 Campbell Parade, Bondi Beach, which was bought for $19.12 million; and 
</li>
<li>A three-storey commercial building with parking for eight cars at 120-124 Chalmers Street, Surry Hills, which was bought for $12 million.</li>
</ul>
<a href="/images/2016/10/21/Cityscope%20East%20graph.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/21/Cityscope%20East%20graph.jpg" alt="">
Properties listed as for sale in the October 2016 update of Eastern Sydney Cityscope include:
<ul>
<li>Edgecliff Centre, a seven-storey office building over a two-level shopping centre with a net lettable area of 10,850 and underground parking, connected to the Edgecliff Rail/Bus Interchange, at 203-233 New South Head Road, Edgecliff, available through JLL and Knight Frank; 
</li>
<li>Adams Building, a five-storey building with retail on the ground floor, three floors of office space, and residential on the top floor, at 485-489 Elizabeth Street, Surry Hills, available through Deans Property; and 
</li>
<li>Briad House, a five-storey commercial building with parking for five cars, at 491-493 Elizabeth Street, Surry Hills, available through CMS Real Estate.</li>
</ul>
Leasing opportunities listed in the October 2016 update of Eastern Sydney Cityscope include:
<ul>
<li>Holdsworth House, a three-and-five-storey former warehouse building, now with retail and office space of 5,719 sqm and parking for 22 cars, at 32A Oxford Street, Darlinghurst, which has office space of up to 4,711 sqm for lease through Colliers International; 
</li>
<li>100 William Street, Woolloomooloo, a 24-storey office tower with basement parking, which has office space of 312 to 1,162 sqm for lease through Colliers International; and 
</li>
<li>Pullman Sydney Hyde Park, a 22-storey hotel with retail on the ground floor, three levels of office space and underground parking, at 26-36 College Street, Darlinghurst , which has office space of 944 sqm for lease through Colliers International.</li>
</ul>
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Commercial property sales increase in East Sydney over the last quarter: CoreLogic

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A commercial investment with a long term tenant in North Melbourne has been sold at auction by Ray White Commercial for $2,140,000.
The ground floor property at 478-482 Victoria Street, North Melbourne was sold under the hammer to a private investor.
The sale by Ray White Commercial Oakleigh’s George Kelepouris on behalf of a private owner reflected a yield of 5%.
Kelepouris said the onsite auction attracted four bidders.
“This approximately 400 square metre building offered a tremendous investment opportunity. It has an established restaurant operator tenant and is returning net rental of approximately $111,136 per annum,” he said.
“The tenant’s current five-year lease commenced in May 2014 and there are four options of five years.”
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North Melbourne investment sold at auction for $2,140,000

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A recent flurry of close to $50 million worth of commercial property transactions in South West Sydney will pave the way for a wave of new development over the next decade.
CBRE’s Investment &amp; Development Properties team has transacted $44.45 million in commercial property over the past four weeks, underpinned by a resurgence of Chinese buyers swooping on development grade stock across the region.
In Edmondson Park, a Chinese investor secured a 10 acre site at 132-150 Croatia Avenue for $14 million.
A high rise apartment and townhouse project is mooted for the site, which is located on the door-step of the Edmondson Park train station.
CBRE’s Thomas Mosca said the sale was evidence of strengthening investment appetite levels for development grade stock in Sydney’s high growth areas.
“Over the past several months, there has been a significant uplift in enquiry from both local and offshore developers for secure opportunities in South West Sydney’s hottest growth areas,” Mr Mosca explained.
“We are starting to see a number of development applications in both Austral and Edmondson Park - further reinforcing the belief that these two suburbs will developed before the larger centre of Leppington, which is still many years from flourishing.
Further evidencing the trend, a separate Chinese investor secured a 22,000sqm mixed use development site in Austral for $13.95 million.
Situated along Edmondson Avenue, the property has been earmarked for redevelopment over the coming years, with potential to accommodate a mix of residential and commercial upon completion. 
“The majority of recent property sales in this south western pocket have been secured by Chinese purchasers looking to land-bank these opportunities and bring them into fruition once the timing for these areas is right,” Mr Mosca said.
“The developable potential of stock is pivotal to the recent flurry of transactions, with buyers hungry for sites that offer scope for both present and future development.”
He added The bulk of demand is for properties that can accommodate house and land style packages, "while there is also a more niche group of buyers seeking properties that can accommodate high-rise sites.”
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Chinese interest in house and land sites in South West Sydney

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Over the week ending 2 September, there were 28 commercial auctions held with half of all reported results selling.
On a week on week basis, auction activity is lower, with 35 auctions held over the previous week and activity is also lower than at time last year when 51 auctions were held, according to CoreLogic RP Data.
In addition to the lower volumes, the preliminary clearance rate of 50.0 percent is also down from the previous week (71.4 percent) and lower than the 76.5 percent one year ago. 
Over the past four weeks there have been 156 commercial auctions reported, with 96 sales. The total value of transactions, based on the 64 results that were reported with a sale price, sits just below $123.44 million.
<a href="/images/2016/09/09/Commauctions.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/09/09/Commauctions.png" alt="">
The table below indicates National Auction Clearance Rate figures.
<a href="/images/2016/09/09/ClearanceRates.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/09/ClearanceRates.png" alt="">
 
 
 
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