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

Darlinghurst

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SPONSORED POST
Sydney’s City Fringe suburbs have really hit their stride as investors and tenants look further afield, seeking the best of both worlds; the city lifestyle without the competitive rents and small office spaces, and a buzzing atmosphere just a stone’s throw from the heart of the city.
Darlinghurst is one of those suburbs that has come a long way since being the epicentre of Sydney’s underworld during the early 20th Century. 
Now the suburb is known as Sydney’s foodie haven and best small bar scene, as well as being home to a plethora of designer boutiques, art galleries and coffee houses on every corner.
Transforming over the years to meet the demand of residents, Darlinghurst has a rich history engrained in the atmosphere of the area and architecture of buildings. The expansion of the Sydney CBD landscape has shaped the Darlinghurst commercial businesses and residential dwellings into highly sought after space. 
Bordering Darlinghurst to the west is Museum Station and east is Kings Cross Station, which has undergone dramatic transformation to accommodate for changing demographic. Adjoining Darlinghurst is Surry Hills, which has had $3 billion spent on new major projects such as Sydney Light Rail, Sydney Metro and the Central Station redevelopment. Each project will provide unparalleled access to the greater metropolitan of Sydney through bus, train and light rail options. 
In light of this, Savills, as exclusive selling agent, is pleased to present a rare opportunity to acquire a two storey freestanding office warehouse building at <a href="https://www.commercialrealestate.com.au/property/278-palmer-street-darlinghurst-nsw-2010-2015391698" target="_blank">278 Palmer Street, Darlinghurst</a> (below). 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/25/278%20Palmer%20Street%20Darlinghurst.jpg" alt="">
The property has a total building area of approximately 640sq m and offers endless value-add potential, development upside (STCA), strong rental demand and connectivity to a multitude of transport options and is surrounded by incoming infrastructure.
The building is well positioned to benefit from several government funded projects that will enhance the Darlinghurst and City Fringe appeal and access to Sydney’s CBD, such as the $3 billion* upgrade of Sydney Central Station including new metro platforms, shops, restaurants and a 180-room luxury hotel on the top floor. The main terminus upgrade of $2 billion is currently underway to facilitate the Sydney Metro platforms and a new retail precinct, with the scheme outlining a long term completion date in 2035 featuring the hotel and new commercial precincts. 
According to David Hickey, Senior Executive, <a href="https://www.savills.com.au/services-and-sectors/sales-and-investment/metropolitan-and-regional-sales.aspx" target="_blank">Metropolitan &amp; Regional Sales at Savills Australia</a>, Darlinghurst is in huge demand as tenants are looking for more affordable office buildings, many of which are seeking half the amount of rent that a B grade building in the CBD would cost.
“The Sydney CBD will always remain popular, however when a B grade office building is seeking rents of $1,500 a square metre, a more affordable option, less than two kilometres from the CBD is a very practical solution for many tenants.
“Even Darlinghurst’s neighbouring suburb of Surry Hills is another expensive option, with rents at circa $850 a square metre, compared to Darlinghurst’s $700 a square metre” he continued.
278 Palmer Street is 220 metres from Oxford Street bus stop and less than 800 metres from Museum train station and just 1.3km from Central Station.
Mr Hickey said “There is plenty of rental upside for this office warehouse and we forecast strong capital growth potential, as this asset has potential to occupy, invest, subdivide or develop (STCA) with current FSR of 3.5: 1 and height limit of 12 metres in favourable R1 Zoning Precinct.”
278 Palmer Street Darlinghurst is offered to the open market by way of public auction on-site at 12pm Friday 26 July 2019 through David Hickey at Savills Australia.
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. David Hickey is a Senior Executive in the Metropolitan &amp; Regional Sales team. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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jrobinson-rf4aSBido9

The rebirth of the Sydney City Fringe office market

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The City of Sydney has sold Stockton House in Darlinghurst for around $7 million. 
Miron Solomons, Matt Pontey and Nick Lumley of Colliers sold the property at 73-75 William Street in Darlinghurst, close to Hyde Park on the city fringe.
The three level, 908 square metre building is currently unoccupied, presenting an attractive opportunity to reposition the building and to take advantage of the exceptional position, the agents said. 
“The campaign attracted significant and strong interest with over 80 inspections of the property from a range of developers, investors and owner occupiers both onshore and off,” said Miron Solomons, National Director, Investment Services at Colliers International.  
“Ultimately, the price and unconditional terms proposed by the successful candidate were acceptable to the City of Sydney and has delivered an exceptionally strong result for the City and future of William Street.”  
The sale of Stockton House has delivered a timely outcome for the City as the city fringe commercial office market continues to experience some of the strongest trading conditions with vacancy rates some of the lowest experienced in years, Matt Pontey, Manager at Colliers International said.
“The outcome and candidate that has been successful, will deliver a beautifully appointed commercial asset to the city fringe that will present a unique offering to the leasing market,” said Pontey. 
“This building is a complete blank canvas and a value-add proposition which explains the high interest in this well-located, quality asset.
“There is strong demand for commercial property in the city fringe, evidenced by the auction of Watters Gallery which we sold at auction two months ago for $5.5 million.”
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j.ballantyne1990-6AQqhLzZaK

City of Sydney sells unoccupied Stockton House, Darlinghurst for $7 million 

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Auction clearance rates have firmed further in Sydney and Melbourne as many more buyers seek out the early winter offerings, ahead of the likely seasonal listings hibernation.
Auctioneers across the east coast capital cities reported a continued spike in auction bidder registrations that has hastened following the federal election outcome.
Two LJ Hooker auctions in Sydney attracted more than 20 registered buyers. And at Hurlstone Park in Sydney's inner west, so many buyers registered that Richardson &amp; Wrench ran out of bidding paddles for the four-bedroom period home at <a id="LPlnk721593" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://hurlstone-park.randw.com.au/residential-for-sale/0000407516" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">8 Mill Street</a> that went $200,000 past the reserve to sell for $1.655 million.
A house,<a id="LPlnk972307" class="x_OWAAutoLink" href="https://www.domain.com.au/news/brisbanes-worst-house-if-you-want-to-buy-itll-have-to-be-from-the-photos-only-837495/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> </a>dubbed Brisbane’s worst house for sale, sold at competitive weekend auction for $253,000, in the nation's cheapest auction outcome.
Its pre-auction publicity attracted some 40 registered bidders for a house deemed so unliveable that none were allowed to inspect inside.
The Brisbane dump at <a id="LPlnk453102" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhiteeastbrisbane.com.au/properties/residential-for-sale/qld/marsden-4132/house/2107878" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">47 Birch Street, Marsden</a> attracted an opening bid of $120,000 which rose quickly to $230,000, when it was declared on the market.
It sold to an owner occupier looking for a project.
Its marketing photos published by Ray White East Brisbane agent Ryan McHarg showed the three-bedroom brick house on Brisbane’s south side had kicked-in walls in every room, graffiti inside and out, fire damage in the bedrooms, along with missing floorboards and brickwork.
A community organisation which provides lower cost housing for Indigenous community members bought it in 1988 for $78,000.
The two largest auction markets, Melbourne and Sydney, both saw their preliminary clearance rates rise; coming in at the mid-60 per cent mark, however volumes were lower week on week in the first weekend of winter.
A 66.1 per cent preliminary clearance rate was recorded across Sydney this week, making it the best performing capital city according to preliminary CoreLogic results.
It comes off the back of last weekend’s 62.1 per cent final clearance rate which was the highest Sydney has seen in over a year.
The nation's top weekend sale was $5.51 million in Mosman through LJ Hooker Avnu agent Michael Coombs.
The deceased estate sold for $1.01 million above reserve with <a id="LPlnk968613" class="x_OWAAutoLink" href="https://avnu.com.au/our-listings/4-balmoral-avenue-mosman-nsw/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">the five-bedroom house at 4 Balmoral Avenue</a> on the market for the first time in 67 years.
There were eight registered bidders who competed for the 608-square-metre holding.
Domain reported there were 13 registered parties when a four-bedroom deceased estate at nearby <a id="LPlnk327783" class="x_OWAAutoLink" href="https://www.ogpartners.com.au/buying/NSW/North-Shore-Lower/Mosman/House/1P2066" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">28 Lang Street, Mosman</a> sold for $2,635,000 to an upsizing family who intend to renovate the Federation house. The reserve was $2.2 million.
Only five got to bid with the other prospective buyers including developers, first-home-buyers and investors. It was offered for the first time in four decades.
There were slightly fewer homes taken to auction across Sydney this week with 674 auction held, down from the week prior when 707 auctions took place.
Sydney auctioneer Tom Panos saw bidding from around five parties interested in <a id="LPlnk442671" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-lewisham-131138958" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">40 Morton Avenue</a>, Lewisham which sold under the hammer for $1.41 million, $130,000 above the $1.28 million reserve.
The opening bid was $1,275,000. The second bid was at its reserve.
However a three-level Republic 2 apartment in Darlinghurst listed with a $2 million to $2.2 million price guide was sold to its only registered bidder at $2.05 million.
The sub-penthouse at <a id="LPlnk966551" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-131122234" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">301/50 Burton Street is being sold </a>by retired Bangkok-based Willis Towers Watson executive Andrew Heard.
David Servi of Spencer &amp; Servi had listed the two-bedroom, two bathroom apartment which has 172 square metres of floorspace, including the rooftop terrace with city skyline views.
The apartment that sits in a BKH Architects-designed complex with an outdoor pool and gym was being offered for the first time since completion.
It was a $1400 a week rental in 2017.
The quarterly levies sits at $5000 a quarter.
Domain economist Trent Wiltshire said the weekend results were a sign the Sydney market could be close to a turning point.
“Clearance rates are now at their highest point in over a year, and other signs also point to renewed buyer interest – more people are attending open for inspections and auctions and more people are inquiring about home loans,” Mr Wiltshire told Domain.
Wiltshire said although some headwinds remain, notably a sluggish economy and tighter lending conditions, most indicators point towards Sydney and Melbourne’s house price falls "ending this year.”
Brisbane's top sale was an acreage 30 minutes from the CBD at 76 Molle Road, Ransome, a modern seven bedroom five bathroom house.
<a id="LPlnk402809" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/qld/brisbane-east/ransome/397709" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">It secured $1.65 million</a> through McGrath agent David White.
The one hectare property last sold at $778,000 in 2006 with the house constructed in 2011.
There were 1,654 homes taken to auction across the combined capital cities coming into the first week of winter, down from the 2,055 homes auctioned last week, according to CoreLogic. 
The lower volumes saw the preliminary auction clearance rate rise to 61.5 per cent after last week’s 57.7 per cent final clearance rate, which was the highest final weighted average result in over 12 months. 
Over the same week one year ago, a higher 2,281 homes were auctioned, 54.1 per cent of which sold.
Melbourne returned a 64 per cent preliminary auction clearance rate across 733 auctions, after last week’s final clearance rate fell just short of 60 per cent (59.6 per cent).
Melbourne's top sale was $3 million in Camberwell when a five bedroom 1900 home at <a id="LPlnk270150" class="x_OWAAutoLink" href="https://fletchers.net.au/24004/60-brinsley-road-camberwell" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">60 Brinsley Road</a> was sold. It's pre-auction price guidance had been $2.75 million to $3 million. It last sold in 1999 at $476,000.
There were three bidders for the property which was called on the market at $2,875,000.
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The remaining capital city auction markets all saw a lower volume of auctions take place week on week.
Perth returned the highest preliminary result of 55.6 per cent, there was however only 26 homes taken to auction across the city last week. 
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Less stock, more buyers boosts weekend auction success rates

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Deloitte Australia chief marketing officer Matt McGrath and his wife, acclaimed fashion designer Jodie Boffa-McGrath, have bought in Darlinghurst.
The couple, who have been renovating their $3.7 million Palm Beach home, have quietly paid $2.16 million for an updated terrace.
Bresic Whitney Darlinghurst secured the off-market sale.
It had been a $1100-a-week rental in recent years, having last sold for $812,500 in 2003.
The home with three bedrooms, two designer bathrooms and a landscaped garden on 95 square metres has been listed for rent by the couple at $1395 a week.
This article was first published in the Saturday Daily Telegraph. 
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Deloitte executive Matt McGrath and fashion designer wife buy in Darlinghurst

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Professional footballer Jarryd Hayne is again seeking tenants for his Darlinghurst investment property.
Hayne has owned the terrace since paying $1,585,000 in 2013, bought during his first stint at the Parramatta Eels.
The two-time Dally M Medal winner is looking for tenants willing to pay $1350 a week, the same price he asked this time last year.
There’s little change to its April 2018 listing, other than normal wear and tear.
It was first listed for rental at $1700 a week on its 2013 purchase, then at $1450 six months into his ownership.
The 1890s-built home has three bedrooms and an open plan living/dining space that opens to a north-facing terrace.
Our Estates agents Adam Regan and Kay Davis are handling the marketing.
Two years ago, while at the Gold Coast Titans, Hayne sold his former Paddington home for $2.85 million.
Hayne had paid $1.13 million in 2013 and renovated throughout.
The same year he bought two apartments off the plan in the Parramatta development Koi.
He spent $600,000 on an apartment on the 16th floor and $605,000 for one on the 17th.
This article was first published in the Sunday Telegraph. 
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Jarryd Hayne seeking tenants for Darlinghurst investment

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A three-level Republic 2 apartment in Darlinghurst has been listed for June 1 auction with a $2 million to $2.2 million price guide.
The sub-penthouse at <a href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-131122234">301/50 Burton Street is being sold </a>by retired Bangkok-based Willis Towers Watson executive Andrew Heard.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/29/dar%202.jpg" alt="">
David Servi of Spencer &amp; Servi has listed the two-bedroom, two bathroom apartment which has 172 square metres of floorspace, including the rooftop terrace with city skyline views.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/29/dar%203.jpg" alt="">
The apartment sits in a BKH Architects-designed complex with an outdoor pool and gym.
There is level lift access to secure double car parking, along with visitor parking in the pet-friendly complex.
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Republic 2, Darlinghurst sub-penthouse listed for June auction

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Interior designer Jonathan Richards and his wife Olivia Benyon have sold their contemporary Darlinghurst home for $4.6 million.
It won a commendation in the 2018 Australian Interior Design Awards, with Richards acknowledging the project was very much a collaboration with his wife, Olivia Beynon.
Constructed in the 1890’s, the building saw a reworking by Promena Projects of the floor plan and rationalising of space to meet the modern needs of a young family of four, having lived in the space for some years before embarking on the renovation.
Located on West Avenue, it comes with a four bedroom house-like main residence plus two ground floor studio apartments.
There's private courtyard space plus roof terracing.
It was originally constructed as a two-level residence with a horse stable on the ground floor. 
Described by Richards as a “lovable mongrel”, the building through the years has had many different uses including a mechanic’s warehouse. 
It has been offered by BresicWhitney agents Shannan Whitney and Melinda Antella who suggest its design celebrates its industrial soul.  
The marble gas kitchen comes with Wastberg light fittings above the built-in leather banquette and oak kitchen table that make the hub for the family to gather. It is in lieu of a dining room.
The 1880s <a href="https://www.realestate.com.au/property-house-nsw-darlinghurst-130936878%20%20%20" target="_blank">West Avenue property</a> had a buyers' guide of $4.7 million.
Richards had been a director at SJB Interiors before setting up a new company, Richards Stanisich, with fellow SJB director Kirsten Stanisich last year. 
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Interior designer architect Jonathan Richards sells Darlinghurst trophy home

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Sydney’s Darlinghurst has always been a little bit bohemian.
And two Crown Street offerings certainly have colourful vendor histories.
Madison Ashton, the famed Sydney escort and former mistress of late cardboard king Richard Pratt, has listed her chic home (pictured above) with $1.1 million hopes.
Nearby there’s the far more traditional, untouched, long-time terrace (pictured below) of the late costume designer and early mardi gras activist Ron Muncaster.
Known as the Master of Sequins, Muncaster paid $110,000 for the 1860s-built home in 1985, a year after he won the parade’s inaugural costume prize.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/15/darlinghurst%202.jpg" alt="">
There’s raw brick and sandstone walls, fireplaces, high ceilings and exposed original beams.
Now, 18 months after his death, Matt Marano of Oxford Agency has a price guide of $2.5 million for its May 11 auction.
“It is a prized inner city setting footsteps to a world of arts, fashion and entertainment,” Marano said.
There are scantily-clad images that line the walls at both homes.
Ashton’s two-bedroom apartment features plush interiors with mirrored walls and chandeliers amid Pilou Asbaek decor finishes.
Its redesign came after her company paid $735,000 in 2012 in a purchase from actor siblings Joel and Nash Edgerton.
Ashton, who hails from Victoria, is planning to move to the CBD.
This article was first published in the Saturday Daily Telegraph. 
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Two of Darlinghurst's most colourful characters' Crown Street properties listed

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The long-time Darlinghurst home of the late costume designer and early Sydney Mardi Gras activist Ron Muncaster has been listed for sale.
Affectionately known as the Master of Sequins, Muncaster paid $110,000 for the 1860s built home in 1985, shortly after he started created costumes for the parade.
A number of its 1800s features have been retained, such as its raw brick and sandstone walls, fireplaces, high ceilings and exposed original beams.
The <a href="https://www.realestate.com.au/property-terrace-nsw-darlinghurst-130954586" target="_blank">four bedroom terrace</a> sits behind a sandstock brick facade on its 180 sqm Crown Street parcel. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/11/Ron2.jpg" alt="">
The terrace has its own courtyard, and there's rear lane access to a fully self-contained loft-style apartment with balcony.
Now 18 months after his death, Matt Marano of Oxford Agency has a price guide of $2.5 million. Matt and Michael Marano have the May 11 auction listing.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/11/Ron3.jpg" alt="">
The 2003 documentary Queen of Sequina followed his life, from a tourist in the early 1960s to becoming one of the most well known names on Oxford Street.
He received a lifetime achievement award from Sydney Mardi Gras in 2014.
His costumes often took months to complete. 
<a href="https://www.realestate.com.au/property-terrace-nsw-darlinghurst-130954586"> </a>
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Late Mardi Gras costume designer Ron Muncaster's Darlinghurst house listed

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A City of Sydney owned asset, located at 73-75 William Street Darlinghurst, has been offered to the market.
Located close to Hyde Park on the city fringe, the three level, 908 sqm building is currently unoccupied and zoned B4 mixed-use.
Miron Solomons, Matt Pontey and Nick Lumley of Colliers International are managing the sales campaign. 
 “This building is a complete blank canvas, which will undoubtedly attract interest from developers, investors, value-add specialists and owner-occupiers alike. We are likely to see interest from businesses such as restaurants, boutique hotels, co-working spaces or even a corporate HQ for a medium to large firm,” said Miron Solomons, National Director, Investment Services at Colliers International. 
Matt Pontey, Manager, Investment Services added “This is a value-add proposition; specialists will be attracted to this well-located, quality asset.” 
“There is strong demand for commercial property in the city fringe, evidenced by the sale of Watters Gallery which we sold at auction two weeks ago for $5.5 million.” 
73-75 William Street, Darlinghurst is for sale via and expressions of interest campaign closing May 13.
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