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

House Price

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Melbourne houses had the strongest September price growth, according to the Residex non-revised median values chart.
These figures suggest the Australian house market grew 1.63% in September, off the back of a slight decline in August. 
Sydney units had the highest mainland growth in the month of September. 
Table 1: September 2016 Median Value Index
<a href="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%2010.47.33%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%2010.47.33%20AM.png" alt="">
 
<a href="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%2010.48.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/02/Screen%20Shot%202016-11-02%20at%2010.48.55%20AM.png" alt="">
Source: Residex
Residex suggests the monthly figures are relatively volatile, with annual growth showing a more distinct trend.
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jonathanchancellor-7SQnKwU6yx

Melbourne house price growth strongest in country: Residex

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GUEST OBSERVER
The RBA left its cash rate unchanged at 1.50 percent, as expected.
The post- meeting statement noted that 'having eased monetary policy at its May and August meetings, the Board judged that holding the stance of policy unchanged would be consistent with sustainable growth in the economy and achieving the inflation target over time'. Much of the rest of the statement was very similar to last month.
The RBA seems content with the current stance of policy and we see this as unlikely to change any time soon. Tomorrow's Q2 GDP print will now be in focus, with timely partial indicators, released earlier today, suggesting some upside risk to our forecast for GDP growth of 3.2 percent y-o-y. Our central case has the RBA keeping its cash rate steady at 1.50 percent in coming quarters.
Facts
The RBA held its cash rate steady at 1.50 percent, as expected by all of the surveyed economists in the Bloomberg survey. Just prior to the decision the market was pricing a 2 percent chance of a 25bp cut.
Implications
Having delivered 50bp of cuts in the past four months, it was no surprise that the RBA held its cash rate steady today. With little more to say about the situation than that, the RBA's post-meeting statement was very similar to last month's.
As they pointed out, 'low interest rates have been supporting domestic demand and the lower exchange rate since 2013 is helping the traded sector'. In short, loose financial conditions are rebalancing growth in the economy. At the same time, 'inflation remains quite low', but the Board are of the view that the current stance of policy is 'consistent with ... achieving the inflation target over time'.
On the AUD, the RBA exercised its 'free lunch option' by stating that 'an appreciating exchange rate could complicate [the rebalancing of growth]'. There is no cost to the RBA in stating this. However, importantly, the RBA is not suggesting that the current level of the exchange rate is a worry.
On the established housing market, they continue to believe (as do we) that the housing price boom is over. While some measures show continued strong housing price growth, most are showing a slowdown and this easing in housing price growth is consistent with weaker new housing loan approvals and housing credit growth.
The focus now shifts to tomorrow's Q2 GDP print. Partial indicators, on balance, suggest some upside risk to our forecast for already above-trend growth of 3.2 percent y-o-y. Our central case sees strong growth driving further gradual improvement in the labour market, with wages growth stabilising and gradually climbing through 2017, supporting underlying inflation. With this in mind, our central case sees the RBA on hold in coming quarters. 
 <a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC. 
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jchancellor-FAypfDUnLy

The housing price boom is over: HSBC's Paul Bloxham

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 After CoreLogic recently reported a median house price of $835,000 in Sydney, Property Observer went searching for what that got.
Starting at the lower range of the median price, $825,000 will comfortable purchase a six-bedroom, four-bathroom house on Lot 9, <a href="https://www.realestate.com.au/property-house-nsw-jordan+springs-123144814" target="_blank">Lakeside Parade in Jordan Springs</a> (above) in Sydney’s greater west, due to be completed in December. The offer is stamp-duty free. 
Keeping in Sydney’s western suburbs, $835,000 will also purchase a four-bedroom, two-bathroom, single-storey house on <a href="https://www.realestate.com.au/property-house-nsw-caddens-123373594" target="_blank">77 Barnea Avenue, Caddens</a> (below). The brand new house is located on a 410 square metre block of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%206.02.41%20PM.png" alt=""> 
The median price will also purchase a four-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-emu+plains-123305666" target="_blank">69 Brougham Street, Emu Plains</a> (below). The luxury house was built by ZAC Homes. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%206.03.48%20PM.png" alt=""> 
Still within the median price range, a three-bedroom, one-bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-toongabbie-123361826" target="_blank">36 The Crescent in Toongabbie</a> (below). The newly renovated home has a low-maintenance yard which features a veggie patch. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%206.05.06%20PM.png" alt="">
The five-bedroom, three-bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-st+clair-122954230" target="_blank">5 Tulloch Place, St Claire</a> (below) was recently sold for between $839,950 and $879,950. The newly renovated house sits on 672 square metres of land.
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%206.06.58%20PM.png" alt="">
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What the $835,000 median house price gets in Sydney

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After CoreLogic recently reported a median house price of $575,000 in Darwin, Property Observer went searching for what that got. 
The median price will secure a four-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property-house-nt-gunn-121783274">17 Terry Drive</a> (above) in Gunn. The tropical-inspired home features garage parking for two cars.  
In Zuccoli the median price will purchase buyers a three-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property-house-nt-zuccoli-123344682" target="_blank">3 Grumman Court</a> (below). Currently under construction, the 180 square metre family home sits on 623 square metres of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.44.19%20PM.png" alt="">
In Durack $585,000 will purchase the three-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/project-zuccoli-nt-zuccoli-600000995?propertyTypes=houses" target="_blank">12 Murdoch Gardens</a> (below). The 731 square metre block has a double carport, a shed and solar hot water. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.46.56%20PM.png" alt="">
In Leanyer, the four-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property-house-nt-leanyer-123270982" target="_blank">2 Ridgehaven Circuit</a> has been listed for offers above $570,000 (below). The house was built in 1981 and features an in-ground swimming pool. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.51.02%20PM.png" alt="">
By comparison, the four-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property-house-nt-johnston-123214274" target="_blank">17 Melbourne Street</a> in Johnston has been listed for offers above $575,000 (below). The family home features in-built wardrobes, granite benchtops in the kitchen and a walk through wardrobe and ensuite in the master bedroom. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.52.17%20PM.png" alt="">
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What the $575,000 median house price gets in Darwin

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After CoreLogic recently reported a median house price of $500,000 in Perth, Property Observer went searching for what that got.
In Redcliffe the median price will secure a three-bedroom, two-bathroom house on <a href="https://www.realestate.com.au/property-house-wa-redcliffe-123149214" target="_blank">Victoria Street</a> (above). The five-year-old house features a double-storey garage and built in wardrobes in all bedrooms. 
In <a href="https://www.realestate.com.au/property-house-wa-two+rocks-123133718" target="_blank">Two Rocks</a> the median price will secure a four-bedroom, two-bathroom house on Madeline Court (below). The house sits on a 814 square metre block and features an in-ground swimming pool. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.30.23%20PM.png" alt=""> 
In <a href="https://www.realestate.com.au/property-house-wa-madeley-121913942" target="_blank">Madeley</a> home-buyers can secure a four-bedroom, two-bathroom home on Bryanston Pass built in 2010 (below). The house sits on a 375 square metre block. 
 <img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.31.41%20PM.png" alt="">
In <a href="https://www.realestate.com.au/property-house-wa-baldivis-123376682" target="_blank">Baldivis</a> the median price will purchase a five-bedroom, two-bathroom home on Lagoon Pass (below). The new house sits on 564 square metres of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.33.32%20PM.png" alt="">
In <a href="https://www.realestate.com.au/property-house-wa-waikiki-120886205" target="_blank">Waikiki</a> a six-bedroom, two-bathroom house on Auld Court will set buyers back $500,000 (below). The large property has parking for five cars and 680 square metres of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.35.50%20PM.png" alt="">
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What the $500,000 median house price gets in Perth

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Enter housing price growth into the topic although make sure if you want to be right that you always select the plural.
For example, those in the real estate industry always focus on suburban or post code housing price growth. What we are reading now are housing price growth predictions of significant drops for Sydney and Melbourne which just so happen to be Australia’s largest and most active markets.
Allow me to put this into perspective given most have failed miserably in educating readers as to what exactly this means. Let’s say for the sake of this argument you own a house in Mosman – in six months’ time the value of your home will in all probability have gone up due to record low stock levels. However, if you had recently acquired an investment off – the – plan apartment, in six months’ time that would have definitely dropped well below the purchase price.
Recently we learnt that the Australian banks are no longer lending to foreign buyers and many areas across Sydney have now been black listed from obtaining any loans due to a significant oversupply of property. We need to bear in mind that whenever we see major price adjustments to real estate this can only happen when you have an acute oversupply.
The final nail in the housing investment market was delivered this week in the NSW budget when stamp duty payable by foreign buyers would be hit with a new four (4) per cent surcharge. On top of that they will also be hit with an additional 0.75 per cent land tax surcharge on residential real estate. If ever these tens of thousands of foreign buyers needed a reason to walk away from their deposits they certainly have one now.
To add further confusion to this potential housing catastrophe nobody can answer does this surcharge apply to those investors who have already paid their deposit and are yet to pay stamp duty? If history is anything to go by then you would say confidently that it does. The major lenders would be hoping that it does as they would be hoping that many of their new lending clients walk away from their deposits as that significantly reduces their exposure. Although this can be a double whammy if they are also funding the developer – so this is the double – edged property sword.
We should also clean up some incorrect speculation from commentators that this new surcharge will have a significant effect on home prices too. Well it won’t because these foreign buyers can only buy off – the – plan so it won’t play any part in the established housing markets.
One would have to say that the new surcharges will be a total failure although it is disappointing that the NSW government did absolutely no due diligence with what the long term effect would be on the housing markets other than to drive the investment real estate markets values down. The tax that should have been brought down was a tax against those investors who land bank because they would make plenty from that given a large percentage of foreign buyers leave these properties vacant.
The NSW government would be very concerned that stamp duty received from the established property markets is in significant decline although there is no mention of that as all the revenue has arrived thanks to a robust investment market, hence the new surcharge. Should the new surcharge tax turn out to be a dismal failure which I believe it will then the NSW government will be forced into hopefully a complete review of property taxes.
Everyone in the real estate industry knows full well that the reason for record low stock levels is entirely due to home owners baulking at paying exhorbitant stamp duty, so instead they are renovating. One day the NSW government will explore a broad based land tax paid annually by home owners as a logical replacement to stamp duty with Australian residents receiving a discounted rate.
One would think by now that policies on the run are usually always met with disaster where the last example was the failed and now abolished mining tax.
MOSMAN – 2088
Number of houses on the market this time last year – 55
Number of houses on the market last week – 51
Number of houses on the market this week – 48
Number of apartments on the market this time last year – 66
Number of apartments on the market last week – 41
Number of apartments on the market this week – 41
CREMORNE – 2090 
Number of houses on the market this time last year – 13
Number of houses on the market last week – 10
Number of houses on the market this week – 13
Number of apartments on the market this time last year – 11
Number of apartments on the market last week – 18
Number of apartments on the market this week – 18
NEUTRAL BAY – 2089 
Number of houses on the market this time last year – 3
Number of houses on the market last week – 8
Number of houses on the market this week – 7
Number of apartments on the market this time last year – 29
Number of apartments on the market last week – 19
Number of apartments on the market this week – 19
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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robertsimeon-hRNTwJyXkQ

Home truths needed on housing debate: Robert Simeon

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House price growth for the Gold Coast was strongest in Coombabah, Burleigh Heads and Mermaid Waters for the year to November, according to JLL.
JLL's Queensland Residential Market Report for February said other highly priced suburbs have shown less growth, with Palm Beach up 3.7 percent, Tugun up 0.7 percent, while Surfers, Bundall, Broadbeach and Tallai had minimal growth of 2.1 percent to 2.8 percent.
"Outside of the metropolitan area, median house price growth in the year to November (CoreLogic) was most evident in the Gold Coast, averaging $626,000, up 6.9 percent, and the Sunshine Coast, averaging $558,000, up 5.1 percent. Toowoomba median house prices were $420,000, up 4.2 percent," it said.
"Conditions in Cairns are improving and the median house price of $424,000 was up 4.9 percent in the year to November.
"Most areas have registered single digit growth in the past year but Mackay is down 11.5 percent to $361,000, Gladstone is down 5.7 percent to $396,000, and Rockhampton is down 2.0 percent to $319,000."
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Gold Coast house price growth strongest in Coombabah, Burleigh Heads: JLL 

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The Sydney property boom of the past three years is over, with the harbour city now reporting a sharp decline in house prices over the last quarter. All other Australian capital cities have reported moderate to strong house price growth, except Perth and Darwin which both experienced weakening market activity  The key findings of the Domain.com.au December Rental Report are: 
<ul>
<li>Record drop in Sydney median house prices over the December quarter </li>
<li>Melbourne and Canberra record highest annual house price growth since 2009  </li>
<li>Adelaide, Hobart and Brisbane record stronger house price growth  </li>
<li>House price falls in Perth steadying, while Darwin housing market remains weak </li>
</ul>
Commenting on the report, Domain Senior Economist Dr Andrew Wilson, said:  “The higher mortgage interest rates initiated mid-year by financial regulators for both investors and owner-occupiers have demolished the previous booming markets of Sydney and Melbourne, whilst house prices continued to fall in Perth and Darwin as a consequence of the slowdown in the mining sector. “Other capital city markets, however, are now recording solid results, reflecting improving local economies and restored market confidence.” Sydney  Sydney median house prices fell by a dramatic 3.1 per cent over the December quarter – the first fall since June 2012 and the sharpest quarterly decline in house prices reported by the city on record. Despite the record fall over the December quarter, Sydney house prices increased by 14.8 per cent over 2015. Sydney’s median unit prices also fell steeply over the December quarter, dropping by 2.8 per cent to $655,845. It’s the first quarterly fall since March 2013 and again, the sharpest decline on record. However across the year, Sydney unit prices increased by 8.7 per cent. “The remarkable Sydney boom we’ve seen over the last three years is now clearly over, with the market unlikely to record any notable house prices growth until at least spring. While the median house price still remains above $1 million (at $1,013,258), if current trends continue it will likely fall below this benchmark by mid-year,” said Domain Senior Economist, Dr Andrew Wilson.  Melbourne  The Melbourne median house price increased by 1.8 per cent over the December quarter, recording an annual growth of 14.5 per cent over 2015 – the highest annual result recorded by the city since the 2009 boom and reaching only 0.3 per cent behind Sydney. Melbourne unit prices increased by 1.3 per cent over the December quarter to $446,046 for an annual increase of 2.4 per cent. While a positive result overall, the annual percentage growth was considerably below the previous year’s result of 5.2 per cent.  “It’s good news for Melbourne home owners, with the city recording its highest annual growth since 2009. While quarterly growth rates have weakened sharply, the end-of-year results remained positive as local supply and demand drivers remain robust. Melbourne recorded a median house price of $719,486 over the quarter to remain the second highest priced capital city housing market, behind Sydney,” said Domain Senior Economist, Dr Andrew Wilson. Brisbane  Brisbane house prices bounced back over the December quarter with the median house price increasing by 1.5 per cent to reach $511,361– up on the 0.7 per cent recorded over the previous quarter and the highest result for the year.  Brisbane unit prices fell again over the December quarter down by 1.1 per cent to $359,965.  Local unit prices were down by 5.3 per cent over 2015 – the sharpest decline in annual prices since 2000 – 15 years ago.  “It’s a positive result for Brisbane house owners, with the median house price recording its highest quarterly growth for the year.  “Unfortunately for unit owners, the record levels of new apartments continue to impact the Brisbane unit market, with supply clearly pushing ahead of demand. This has contributed to a fall in unit prices across the city,” said Domain Senior Economist, Dr Andrew Wilson. Adelaide The Adelaide housing market reported another solid result over the December quarter with the median house price increasing by 1.8 per cent to $494,284. The Adelaide median house price increased by 6.7 per cent over 2015, its best annual result since 2007.  Adelaide unit prices increased strongly by 3.0 per cent over the December quarter to $310,090. Unit prices rose by 5.2 per cent over the year - the highest annual growth rate since 2008. “It’s a positive story for Adelaide home owners with the city recording  five consecutive quarters of house price growth for the first time since the boom period of 2010. With growth continuing at it’s current pace it is highly likely that the median house price will break through $500,000 by mid-year,”  said Domain Senior Economist, Dr Andrew Wilson. Perth Perth house prices have been declining for four consecutive quarters but there may be some relief in sight, with the decline recorded this quarter at a marginal  0.8 per cent, for a median price of $585,369. The Perth median house price is now the lowest recorded by the city since the March quarter 2013, with prices falling by 4.5 per cent over 2015 – the sharpest annual decline since 2008. Perth unit prices rebounded over the December quarter rising by 1.5 per cent to a median of $388,834. Similar to house prices, Perth unit prices fell by 5.0 per cent over 2015 – the sharpest annual decline since 2011. “Although Perth’s median house price continues to fall as a result of the declining mining sector, it’s not all bad news. There are early signs suggesting that the rate of decline is moderating, as affordability improves and confidence recovers,” said Domain Senior Economist, Dr Andrew Wilson. Hobart Hobart house prices increased strongly over the December quarter — up by 7.9 per cent to a median of $359,837 – the highest quarterly growth rate for over a decade. The December surge in house prices has resulted in an increase of 8.7 per cent over 2015 — the highest annual result for the local market since 2009.  Although Hobart unit prices fell by 3.3 per cent over the December quarter, they increased by 7.1 per cent over 2015 to a median of $268,401.  “The Hobart housing market delivered a strong result in the December quarter, especially given Hobart house prices have increased by just 5.8 per cent over the past 5 years. This indicates further potential for growth as the local economy improves and positive consumer sentiment builds,” said Domain Senior Economist, Dr Andrew Wilson.  Canberra Canberra’s median house price increased by 4.3 per cent over the December quarter to $652,307 – its highest quarterly growth rate since December 2009. It’s a great result for the capital’s housing market, which has seen a median house price increase of  9.0 per cent overall in 2015. The Canberra unit market also experienced positive growth recording a modest increase of 0.8 per cent over the December quarter to reach a median unit price of $405,110. Despite December’s small rise, Canberra median unit prices fell by 2.2 per cent over 2015.  “A really good story in Canberra this quarter, with the local market continuing to rise after a subdued period of buyer activity. Canberra’s house price growth of 9.0 per cent over the year is behind only that of the Sydney and Melbourne markets and is the best local annual result since 2009. “The fall of unit prices across 2015 demonstrates the high levels of new apartment construction predictably moving supply ahead of demand in the Canberra market,” said Domain Senior Economist, Dr Andrew Wilson.  Darwin Darwin house prices fell again over the December quarter, dropping by 2.0 per cent to reach $636,854.  Despite recent sharp falls, the Darwin median house price has fallen by just 1.0 per cent over the past year, an improvement on the previous year’s decline of 5.4 per cent. Darwin unit prices fell slightly over the December quarter — down by 0.4 per cent to reach a median of $407,132. Unit prices decreased by 2.0 per cent over 2015 which was an improvement on the previous year’s fall of 6.5 per cent.  “While the local economy remains strong, the Darwin housing market continues to be impacted by the decline in the resource economy and the end to the significant demand driver of the fly-in-fly-out mining workforce. Darwin unit prices are now the lowest since June 2012, reflecting the oversupply from record levels of apartment construction,” said Domain Senior Economist, Dr Andrew Wilson. 
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Melbourne almost overtakes as Sydney's three-year property boom is over: Domain's House Price Report

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Brisbane's LGA median house price over the September quarter rose to $615,000, according to the REIQ Queensland Market Monitor report.
The median house price set in the June quarter was $610,000.
REIQ CEO Antonia Mercorella said the Brisbane market, and  the southeast corner of Queensland was leading the state’s recovery. 
“It’s been difficult for areas of the state that were heavily reliant on mining to find their feet, but we’re starting to see indicators that suggest we are heading towards firmer ground,” she said. 
“Confidence in the residential house market is growing with sales activity up over the quarter across almost all southeast Queensland regions."
House listings in SE Queensland were up, with house sales in Ipswich posting a 12% increase. The annual trend is up 3.6%
Toowoomba and Cairns recorded the shortest average days on market over the year to August. Toowoomba house sales increased 13% over the quarter and held the state's lowest average vendor discounting rate of 5.3%. 
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$615,000 median house price for Brisbane LGA: REIQ

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Two new entries have been posted on the top ten discounted properties nationwide list from SQM Research - one in Queensland and the other in Tasmania.
The Queensland property, 35 Chataway Street, Carina Heights (above), now takes up ninth position following a total price reduction percentage of 32% in just 138 days.
The Tasmanian home, 78 Lewisham Scenic Drive, Lewisham (below), has been on the market since August last year and has since then been reduced by a total of $151,000, bringing the current asking price to a low $350,000, according to SQM Research managing director Louis Christopher.
<img src="/images/2015/10/21/image2-1.jpg" alt="" width="517" height="388">
He said the Queensland property consists of a highly sustainable four bedroom home set on a large 1,459 sqm block with a knockout certified organic garden to be used as you see fit.
"The property is located just under 10km's outside of Brisbane CBD via the Pacific Motorway and is within close distance of local shops and public transport. The properties overall eco county feel is truly unique for those wanting a little extra space whilst being within commuting distance of Brisbane CBD," he said.
"The Tasmanian beauty has been on the market since August last year and has since then been reduced by a total of $151,000, bringing the current asking price to a low $350,000. This charming four bedroom home sits on approximately 2510 sqm's of land facing north overlooking picturesque Frederick Henry Bay.
"Median asking prices in the capital of Tasmanian are down 1.7% over the last 12 months. If asking prices continue to fall, the vendor might be forced to reduce the price lower, or be open to negotiations."
 
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