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

Domain

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Rental prices across Australia’s capital cities largely remained flat over the September quarter with Brisbane the only city to record growth in median unit rents.
Sydney and Hobart reported a decline in unit rents, according to <a href="https://www.domain.com.au/group/agent-news/domains-rental-report-june-2018/" target="_blank">Domain’s Quarterly Rental Report</a>.
Hobart was the standout performer over the year, reporting the highest annual rent growth for houses and units, followed by Canberra.
House rental yields improved annually in Sydney, Perth and Canberra.
Unit rental yields improved annually in all capital cities but Hobart.
"Availability of rental stock, investor activity and migration flows have created varied markets across the country. Looking just at the September quarter, house rents remained flat in every capital city," said Domain Senior Research Analyst, Dr Nicola Powell.
"While annually, growth has slowed relative to the year prior, primarily driven by stalling Sydney and Melbourne markets.
"Hobart continued to outperform other Australian capital cities, recording double digit annual rental growth for houses and strong growth for units. Canberra also saw substantial growth, with house and unit rents increasing 8.4% and 7.1% respectively. This growth has meant Canberra house rentals are now as expensive as Sydney. 
"While unit rents in Sydney have started to decline, house rents remained at an all time high. However, if market conditions continue with increased supply, we could however see some relief for tenants."
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%201.jpg" target="_blank">Click here to enlarge:</a>
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Sydney median unit rents declined over the quarter and year, as rental supply hit an all time high. 
Melbourne house and unit rental prices held steady for the quarter, slowing the pace of annual growth to an almost four-year low for houses and three-year low for units. 
Brisbane was the only capital city that had unit rents increase over the quarter and year, while median house rents remained flat. 
Canberra house rents remained on par with Sydney, making the two cities the most expensive for tenants. House and unit rents experienced the second strongest annual growth of all capital cities. Unit gross yields reached a record high. 
Hobart was the strongest performing capital city, with a 10.8% annual increase in house rents and 9.4% increase in unit rents. 
Perth house and unit rents experienced no change over the year. This was the first time in almost five years house rents did not decline annually. Unit rents have now remained flat for a year and a half. 
Perth remained the most affordable city to rent a house, and shares the title with Adelaide for the most affordable unit rents. 
Adelaide house and unit rents remained flat for the quarter but continued to record annual growth.  
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%203.jpg" target="_blank">Click here to enlarge:</a>
<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/2018/10/10/DOMIAN%20NATIONAL%203.jpg" alt=""> Rental Yields Rental yields have increased nationally by 0.4% over the past 12 months to 3.76% for houses. Units also increased 1.5% over the year to 4.29%. For investors, Hobart continued to provide the best gross rental yield for houses at 4.94%, and Darwin and Canberra provided the highest gross rental yields for units at 6.08% and 5.95% respectively.
Sydney and Melbourne continued to record the lowest gross rental yields for houses and units, although have begun to improve given the softer sales market.
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%202.jpg" target="_blank">Click here to enlarge:</a>
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%202.jpg" target="_blank"><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/2018/10/10/DOMIAN%20NATIONAL%202.jpg" alt=""></a>
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%204.jpg" target="_blank">Click here to enlarge:</a>
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j.ballantyne1990-6AQqhLzZaK

Brisbane only capital with quarterly rise in unit rents: Domain

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Domain has appointed the former Reserve Bank economist Trent Wiltshire as its economist.
He was more recently at the Grattan Institute.
Wiltshire, who joined Grattan in July 2015 after four years as an economist at the Reserve Bank, holds a Master of Public Policy and Management from the University of Melbourne and a Bachelor of Commerce with Honours in Economics and a Bachelor of Laws (Hons) from Monash University.
He resides in a dowdy 1960s Moorabin home which cost $1,025,000 in 2016 after being listed for just three days.
The home now comes with a $1.08 million value estimate by Domain, reflecting annual price growth of almost three percent.
It was marketed with being 250 steps to the business and shopping centre as its major selling point.
Wiltshire has recently been vocal on local traffic issues especially around the proposed Jasper Road and Moorabbin shopping strip.
He will work in Domain's new data and insights unit, Domain Research House.
The unit is being led by newly-appointed content and data director Tobias (aka Toby) Johnstone, who began working with auction results in the SMH newspaper in 2008 under the tutelage of then property editor Jonathan Chancellor, now editor at large at Property Observer.
<img src="https://mumbrella.com.au/wp-content/uploads/2018/09/DOM-Research-House-Logo-800x307.jpg" alt="" width="470" height="180">
As part of the launch, Dr Nicola Powell has been confirmed as senior research analyst, although she calls herself a data scientist.
Eliza Owen has been recruited as a research analyst from CoreLogic.
The new division launched a report by Wiltshire, which looked at Western Australia’s property renaissance. 
"After years in the doldrums, Western Australia is showing signs of life.
"But new Domain research shows that WA’s beleaguered property market could have bottomed out," he wrote. 
He replaces the veteran Dr Andrew Wilson.
The blokeish Domain coterie was recently rocked by the departure of its rising star Chris Kohler.
Kohler now leads authoritative property coverage on the new yourmoney channel, a joint venture launching next month between Nine and Australian News Channel.
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Domain hires former Reserve Bank economist Trent Wiltshire 

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Domain has appointed Jason Pellegrino, the managing director Australia and New Zealand at Google, to its vacant CEO position.
Earlier this year former CEO Anthony Catalano <a href="/news/melbournite-antony-catalanos-shock-departure-from-domain-as-family-demands">stepped down from the top job</a> citing family concerns.
Pellegrino had been in his current role at Google since May 2016 when he replace Maile Carnegie, who quit as managing director to join ANZ bank.
Pellegrino's background is a range of sales leadership positions in Google, which he joined in 2008.
He lives in Sydney and has four children.
Domain wrote in early 2016 that Pellegrino and wife, Helen upgraded from Kensington to a heritage-listed Bellevue Hill residence, Inverinate which cost $5.75 million.
The Georgian-style property had been on and off the market for about five years before it was sold by Raine &amp; Horne Double Bay agent Martin Maskin.
His 1919 Kensington house sold at $2,625,000 through Phillips Pantzer Donnelley agent Jason Pantzer.
Domain chairman Nick Falloon said they are delighted to have Jason Pellegrino on board.
"Jason’s career as a digital executive with deep experience in sales, strategy, operations and product and technology speaks for itself," Falloon said.
"His leadership acumen and track record for inspiring and driving performance at Google will greatly assist him to take Domain, and its many talented people, into an exciting next stage of growth.”
Pellegrino joined Google in 2008 and held a range of leadership positions before being appointed Managing Director Australia and New Zealand.
He has been the managing director of Asia-Pacific sales operations and strategy; sales director, Australia; and head of sales and operations and strategy for Google’s Australia &amp; New Zealand business.
Prior to joining Google, Pellegrino worked in several roles over 15 years spanning corporate strategy, mergers and acquisitions and finance at Dakota Capital Partners, LEK Consulting, PepsiCo International and KPMG in the mid 1990s.
He holds a Bachelor of Commerce degree from the University of Wollongong and an MBA from London Business School.
“I am delighted to be joining the incredibly talented team at Domain and I can’t wait to be part of the exciting growth journey ahead," Pellegrino said.
"I have spent close to a decade with Google and consider myself enormously lucky to have worked with fantastic colleagues, partners and customers, dealing with the rapid shift in technology, from desktop, to smartphone and now the AI powered world ahead.
"Throughout this time, I have always prided myself on supporting the growth of incredibly strong teams and establishing transparent and trusting relationships with partners and customers, something I am looking forward to continuing as I join Domain.”
The Domain Board ran a global search for the role attracting a strong field of international and local candidates.
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Falloon will continue as Domain’s interim executive chairman until Jason joins Domain, after which time he will resume his role as non-executive chairman.
Pellegrino will be paid fixed remuneration, including superannuation, of $1.2 million.
Domain offered its new chief executive a $500,000 cash bonus payable December 31, and issued, subject to shareholder approval, shares worth $2 million which will vest after two years of employment. 
He will be eligible to receive short-term incentives based on financial and performance metrics worth between $720,000 with a maximum of $960,000, the company announcement said.
He will also be eligible for annual allocation of options equivalent to 120 per cent in value of his fixed remuneration, which will vest over a three-year period based on total shareholder return.
Domain shares are trading at $3.13 today, having been at $3.32 before Catalano's departure and at $3.80 on its late 2017 float.
Tony Boyd's Chanticleer column in the Fairfax-published Australian Financial Review noted since listing on the ASX as a separate company last December, Domain has under-performed the S&amp;P/ASX 200 by 21 per cent. Its main rival REA has outperformed the index by 11.6 per cent.
Catalano was on a base salary of $1.2 million with short-term incentives worth $960,000.
He lost eligiblity for a one-off allocation of long-term incentive options worth $5 million.
 
 
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jrobinson-rf4aSBido9

Domain appoints Google's Jason Pellegrino as new CEO

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Cricket Australia has secured Domain as a platinum partner for the next four years. 
The agreement will see Domain become the presenting partner for Australian men’s domestic Test series, commencing with the 2018-19 season that features Test series against India and Sri Lanka.
The partnership includes the next Ashes series being hosted in Australia, in 2021-22.
Domain will also become the Cricket Australia LIVE Scoreboard Partner, across Cricket Australia’s website and app environments.
Domain will become the official real estate partner of Cricket Australia under the partnership.
“We believe the ‘spirit of cricket’ is resilient," Domain's Melina Cruickshank commented cryptically.
"We look forward to the growth opportunities this partnership will provide.”
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Domain partners with Cricket Australia

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<div align="left">The quickest path for first time buyers to purchasing a house in Greater Brisbane is Ipswich, according to a report released this week by Domain.</div>
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<div align="left">The report noted first home buyer numbers have risen in Queensland, likely stimulated by the First Home Owners’ Grant, an incentive available for new homes valued under $750,000, providing a first home buyer $20,000.</div>
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<div align="left">Introduced in 2016, this measure was only meant to last for six months but was extended due to its popularity and as of 1 July, Queensland is set to reduce this grant to $15,000.</div>
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<div align="left">Indicative of Ipswich price potential, 3 Quarry Lane, Ipswich (pictured above) a 3 bedroom, 1 bathroom sold for $315,000 three months ago.</div>
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<div align="left">“In Greater Brisbane, the time needed to save for an entry level deposit on a house has increased by one month from last year, bringing the total time to 4.2 years, while the time to save for an entry level deposit for units fell by three months, to 3.3 years,” Domain noted.</div>
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Ipswich ranked the quickest FHB path to house ownership in Greater Brisbane: Domain

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Entry level home buyers in Greater Melbourne experienced jump in the time taken to save for a house, adding an extra eight months from last year according to a report released this week by Domain. 
"This is likely an impact of the influx of first home buyers increasing demand at the lower end of the market since the Victorian government abolished stamp duty for first home buyers, an increase of 37 per cent compared to last year”, stated the report  “Those looking to purchase quickly can look to areas like Melton, where the entry house price is $424,000 and the time to save a deposit is 4.3 years."
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There was a indicative sale at 3 Cassia Road, Melton (pictured below), a three bedroom, two bathroom house, which sold for $448,000 last month.
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"For house hunters looking to be closer to the CBD, areas like Maribyrnong, approximately nine kilometres from Melbourne’s CBD, are a strong option with unit entry prices at $360,000 and a time to save of 3.7 years."
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Melton ranked as the quickest FHB path to house ownership in Greater Melbourne: Domain

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According to Domain's latest first home buyer report, the most expedient path to purchase for first home buyers in Greater Sydney is purchasing at Wyong. 
The report states for first home buyers looking to purchase in Greater Sydney, there are a variety of options depending on budget and lifestyle priorities, "but the average time of saving required to purchase a house in Greater Sydney is 6.7 years" 
"For buyers who want a quick entry to market, areas like Wyong on the Central Coast offer a relatively low entry price at $483,000, and the time to save a 20 per cent deposit of 4.7 years." 
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An example of a house selling at this price point is 6 Harvey St Wyong, (pictured below) which sold for 465,000 on the fourth of June this year.
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Wyong is also the location to buy the cheapest apartment apartments on offer.
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Wyong is the quickest path to FHB purchasing in Greater Sydney: Domain

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Antony Catalano, the recently departed Domain boss, has purchased a stake in media agency, Tomorrow.
He will become an executive director of the business from July 1. 
Tomorrow is one of the largest creative and media agencies in the real estate category in Australia, representing some of the leading property developers and real estate project marketers in the country.
Tomorrow has 32 employees in offices in Melbourne and Brisbane with plans for national expansion.
The agency represents clients such as Far East Consortium, C-Bus Property, AV Jennings, Colliers International, Knight Frank, Metro Property, SP Setia, Glenvill, Grocon, Little Projects, Frasers Property, Castran Gilbert and many others.
Catalano, who resigned from the recently ASX-listed Domain in January, has a long history with Tomorrow and its directors Anthony Bray, Ian Hickey and Lars Weisenberger.
"Property is in my blood and I love nothing better than helping developers, marketers and agents grow value in their businesses," Catalano said.
"It’s a passion that Ian, Ant, Lars and I share. 
“I am also looking forward to continuing my involvement with Domain via this role as its largest client.”
Tomorrow is one of Australia’s largest, property specific media buyers and represents an advertising budget of tens of millions of dollars per annum for Domain, REA Group and many other media channels.
“I am honoured and excited to be joining my friends Ian, Ant and Lars at Tomorrow, an agency which has always had a very special place in my heart,” Catalano said. 
“Tomorrow helped Domain grow into an amazing business, and joining the partnership here feels like coming home. Ian, Ant and Lars have built an incredible team of people who really are leaders in their field. 
"I am excited about playing a role in the further development of the agency to see where we can go next. 
“Importantly, I hope to be able to add value for Tomorrow’s loyal and highly-successful stable of clients, many of whom have been with Tomorrow for decades. 
Media buying has become an increasingly important function in property marketing as media has continued to fragment and audiences have shifted to new platforms. Tomorrow plays a key role in advising clients on how to target their advertising spend and maximise sales.
Catalano told The Australian he would not be full time, as he wished to pursue other interests.
“I'm not coming in here to do a 9 to 5 job," he said.
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Former Domain boss Antony Catalano buys equity in Tomorrow media agency

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Rental prices varied across Australia’s capital cities over the March quarter, with most showing either increased or flattened growth, according to Domain’s Quarterly Rental Report.
Sydney and Brisbane house rents, and Perth unit rents remained flat over the quarter.
Only Canberra house rents, and Darwin house and unit rents recorded a decline over the quarter.
“Stricter lending standards and varied economic activity within each capital city continued to produce different market conditions over the March quarter,” said Domain's Dr Nicola Powell. “Hobart was by far the stand-out city this quarter, delivering the only double-digit annual growth for both house and unit rents.
"Looking forward, as tighter lending conditions and serviceability requirements impact investors’ ability to secure finance, they may set their sights on more affordable markets.
"Regardless of where they fall on the affordability spectrum, tenants in most capital cities continue to face highly competitive rental markets.”
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/11/Domain%20March%20Qtr%202018%20-%20House%20Rent%20Table_preview.jpg" target="_blank">to enlarge.</a>
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Gross rental yields for units increased in every capital city over the March quarter. Canberra was the only capital city to record a decline in gross rental yields for houses. Hobart was the top performer for house rental yields at 5.15%, followed closely by Darwin at 5.06%. Darwin and Canberra were the top performers for unit rental yields, at 5.89% and 5.84% respectively. Sydney and Melbourne continued to deliver the weakest gross rental yields for houses and units. 
Capital city markets 
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<li>Sydney</li>
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Median weekly house rents in Sydney remained stable over the March quarter at $550 per week. House rents also remained flat over the year.  Sydney unit asking rents increased 0.9% over the March quarter to $550 per week. While the final quarter of 2017 saw a rental price decline for units, median weekly unit rents are now back on par with house rents, a trend that first appeared in 2017. Sydney continued to record the highest weekly median house and unit rents of all capital cities over the March quarter. “Sydney’s unit rental growth over the March quarter is particularly noteworthy, although it may be a result of the season as students and professionals relocate for work and study. It may also indicate that some prospective investors are struggling to settle on off-the-plan purchases under current lending requirements. “Stricter lending standards could impact the market further, resulting in decreased investor activity and a tighter rental market. However, with building completions tracking to record highs, rental pressure may begin to alleviate in the coming months if the lending criteria is met by investors,” said Domain Data Scientist, Dr Nicola Powell.
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<li>Melbourne</li>
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Melbourne’s rental conditions continued to strengthen during the first quarter of 2018, with median weekly house and unit rents reaching record highs.  House rents increased 1.2% over the March quarter to reach $430 per week, an annual increase of 2.4%. Following two consecutive quarters of unchanged growth, median unit rents in Melbourne increased 2.5% over the quarter and 3.8% over the year, reaching $410 per week.  “Melbourne’s rental market continues to climb, likely a result of the city’s rapid population growth helping to create a fiercely competitive rental market. Although the value of building completions has been at record highs over the past few years, the faster than anticipated population growth has helped to absorb available rental supply. If investor activity continues to retreat in line with tightening lending requirements rental stock may further deplete,” said Domain Data Scientist, Dr Nicola Powell.
<ul>
<li>Brisbane</li>
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Median weekly house rents in Brisbane remained stable over the March quarter at $400 per week, a 1.2% year-on-year decline. Despite the lack of growth, Brisbane’s house rents delivered the third highest gross rental yields of all Australian capitals over the March quarter. Unit rents in the Sunshine State’s capital improved for the first time in a year, jumping 1.4% over the March quarter to reach a weekly median of $375. “Brisbane remains a tenant’s market, and the city’s increased unit stock is providing tenants with greater choice. This means tenants are likely to shift toward newer apartments and use bargaining power to negotiate lower rents. The added unit stock has had a strong impact on both unit and house rental conditions, as rental prices fall year-on-year. “While all signs point to a decrease in investor activity in the coming months, Queensland has the highest internal population flow in Australia, which may improve rental demand and help to turn the tide in favour of investors,” said Domain Data Scientist, Dr Nicola Powell.
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<li>Canberra</li>
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Following a record high achieved last quarter, Canberra’s median weekly house rents fell 1.9% to $530 over the March quarter, the first negative quarterly movement since September 2014. However, median house rents in Canberra recorded a 6% year-on-year increase, the second highest annual growth of all capital cities. Weekly unit rents in Canberra increased for the second consecutive quarter, reaching a median of $450, reflecting a 4.7% quarterly jump and an annual increase of 5.9%. Unit rents in Canberra achieved the highest gain of all capital cities over the quarter, and are now back on par with the city’s all-time high achieved in December 2011. “Units are the biggest sector of Canberra’s rental market, and the drop in house rents over the March quarter may be a reflection of the type and quality of rental stock leased in Canberra during the first quarter of the year. “Despite booming development activity, Canberra’s annual house and unit rental price movements have been on the incline since 2015, suggesting weakened investor activity and increased demand in the region. It remains to be seen whether rates and land tax increases, coupled with changes in lending standards and serviceability, will further tighten Canberra’s rental market this year,” said Domain Data Scientist, Dr Nicola Powell.
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<li>Hobart</li>
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Median house rents in Hobart reached a record high of $420 per week, a 6.3% increase over the quarter and a remarkable 15.1% year-on-year growth. This reflects Hobart’s highest annual growth on record for houses, as well as the highest annual increase of all Australian capitals this quarter. Likewise, Hobart’s unit rents also reached a record high median over the quarter, jumping 2.9% to reach $350 per week. Annually, median weekly unit rents in Hobart spiked 14.8%, the strongest annual performance of all capital cities. Hobart was the only capital city to deliver double-digit annual growth for both houses and units. “Surging population growth across Tasmania has driven strong economic performance in Hobart and contributed to another impressive quarter of rental market activity. Annually, unit rents in the Tasmanian capital have been on the uptick since December 2013, and median house rents are now only $10 behind Melbourne. “Further rental growth in Hobart is dependent on a rise in supply, as recent building approvals and affordable housing proposals offered by the Tasmanian government start to take shape. The availability of affordable rental stock is key to loosening Hobart’s rental market,” said Domain Data Scientist, Dr Nicola Powell.
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<li>Perth</li>
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The median weekly house rent in Perth grew 1.4% to $355 over the March quarter, marking the first quarterly growth in almost five years. However, house rents in Perth fell 4.1% year-on-year and have continued to decline annually since 2014, although the rate of fall has eased. Weekly unit rents in Perth remained flat over the quarter and over the year, sitting at a median of $300 per week. This follows four consecutive quarters of no price movement for the Western Australian capital.  “Following a prolonged period of price declines and a rise in listings, the rental market in Perth is showing signs of stability.  “Perth remains the most affordable rental market for houses and one of the most affordable rental markets for units, and its recent rise in gross rental yields may start to entice investor activity in the coming months,” said Domain Data Scientist, Dr Nicola Powell. 
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<li>Adelaide</li>
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Following two quarters of consecutive growth, median house rents in Adelaide jumped 1.4% over the March quarter to $375 per week, a record high in the South Australian capital. This reflects an annual increase of 4.2%. Weekly unit rents reached $300 for the first time over the March quarter, following a quarterly and annual increase of 1.7%. “Adelaide continues to show consistent rental market growth over the March quarter. While economic conditions in Adelaide are softer than other markets, the affordability and gross yield potential may entice investor activity in 2018,” said Domain Data Scientist, Dr Nicola Powell. 
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<li>Darwin</li>
</ul>
The median weekly rental price for houses in Darwin fell 3.6% both over the March quarter and over the year, dropping to $530. Despite the decline, weekly house rents in Darwin are the second highest of all capital cities after Sydney, and on par with Canberra. Weekly unit asking rents in Darwin also decreased over the March quarter, falling 1.2% to $410, a 2.4% annual decline.  “As in previous quarters, Darwin’s rental market continues to deliver strong yields for both houses and units, with Darwin’s unit market yields the highest of all capital cities this quarter. “Rental stabilisation depends on the overall economic health of the region. Darwin’s rental market continues to be affected by the local economy, shifts in investments, and population changes, which is reflected in the capital city’s decline in median rental price,” said Domain Data Scientist, Dr Nicola Powell.
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Sydney and Melbourne weakest for gross rental yields: Domain Rental Report

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The billionaire Melbourne investor Alex Waislitz says many shareholders in real estate website company Domain want the recently departed Antony Catalano back as its chief executive.
He said he was disappointed Catalano, who resigned unexpectedly last month, was not still its boss, adding his confidence in the overall leadership of Fairfax and Domain has been "dented".
He also suggested Nick Falloon should not be chairman of both Fairfax and Domain.
Waislitz offered himself to mediate some sort of rapprochement between Catalano and Fairfax management.
<div class="cq-article-content-media section">"Many of the investors I have spoken to, in light of the limited amount of information that has been made available publicly about [Mr Catalano's] behaviour, would say they would be happy to have him back," Mr Waislitz told The Australian Financial Review.
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"I think Catalano has proven himself to be the best person to run the business at this point in time. I don't know who the candidates are that they are interviewing. Could he come back? I'm not sure. 
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"Would he come back? I'm not sure."
<div id="article-inline-ad" class="adWrapper">The activist investor via his private investment group Thorney had been a close friend to Catalano.</div>
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<div class="adWrapper">Waislitz said he had sold some Domain stock since Catalano's resignation on January 22. </div>
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"We have reduced our position over the last few months, and including since he left. We will be driven by the information that comes out. We may sell more, we may buy more. We are keeping our options open.
"I'm very disappointed [Mr Catalano] is not there because he was [the] driver. On the other hand, he built a great team and the company will go on regardless. Obviously there are details that are still to come out.
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"I think wiser heads should be involved; other directors of the boards of Fairfax and Domain should get involved in the discussion, take the emotion out of it, take some of the egos out of it and come up with sensible way to end this that allows the company to go on and grow."
Domain reported a half-year operating profit of $56.8 million earlier this week.
Its shares are down about 10 per cent since the beginning of January.  
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