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

International

<html><body>
Global listed property funds delivered the highest returns of all types of managed fund in May, adding 3.3% for the month, according to the Morningstar Australian Institutional Sector Survey.
The UBS Global Investors ex Australia index rose by 3.3% over the month to 31 May in Australian dollar terms. The index delivered 11.6% over the 12 months to the end of May and 14.8% over the calendar year to date.
UBS Clarion Global Property Securities fund performed the best over the month, gaining 3.8%.
AMP Capital delivered the highest returns over the 12 months to the end of May and year-to-date, gaining 13.5% and 16.3% respectively.
AMP Capital deputy head of global listed real estate James Maydew said the fund management team looked at individual REITs and aimed to identify the best ones. The fund currently has about 60 stocks in its portfolio.
“We have a quality bias to the portfolio construction. We believe quality will outperform throughout the real estate cycle ... When we say quality, we don’t just mean quality real estate. We also look at quality management, capital management and balance sheet,” Maydew said.
Commercial property in London looked attractive at this point in the property cycle, he said.
“The market there was impacted heavily by the financial crisis. Nothing was developed there for an extended period of time. We are now experiencing economic growth and jobs growth which is translating to falling vacancy rates, occupancy gains and rental tension,” Maydew said.
The manager was also attracted to REITs that had development capabilities. “We want developers because they are the people that can make the margin on real estate in a rising market. Real estate is cyclical and we have to be able to own those managers that can access that cyclical environment.”
Aged care is another theme that AMP Capital’s team has been pursuing. While the market for listed aged care providers in Australia is quite small, it is better established globally, Maydew said.
“Ageing populations are translating to more demand for aged care facilities ... That’s going to hold for a long period of time.”
Research house Morningstar upgraded AMP Capital’s global REIT strategy from bronze to silver during its latest review of funds in the sector, but downgraded it back to bronze following the departure of two London-based team members in April.
Maydew said there were 14 people in the team before the departures, and the aim was to rebuild the team to 15 people, including three people based in Europe.
He said the manager had received a large number of applications for the roles from all over the world and expected to fill the positions within the next couple of months.
It was considering relocating one or two team members from elsewhere in the world and backfilling those positions with new local recruits to ensure the team’s culture was maintained in the London office. 
</body></html>

zfielding-GvX3Uq9KTa

Global listed property funds bested all other fund types with highest May returns

<html><body>
All eyes are fixed on Rio de Janeiro, thanks to the World Cup.
But it’s the city’s real estate market which has caught the eye of Savills, which added the Brazilian capital to its World Cities index this year.
This year, the index expanded from 10 “global cities” to 12 with the addition of Rio de Janeiro and Dubai. The London stock exchange listed real estate agency counts Rio among the world’s “new world cities”, along with Dubai, Moscow, Mumbai, Singapore, Hong Kong and Shanghai. London, New York, Paris, Tokyo and Sydney make up the old guard.
In its Live/Work Index, Savills ranks the 12 cities according to their cost of renting residential and commercial space per employee, per year. Rio de Janeiro has the second cheapest Live/Work value on the list, more expensive than only Mumbai.
The Live/Work Index:
<ol>
<li>
Hong Kong Live/Work cost per worker, per year: $123,000 
</li>
<li>
London Live/Work cost per worker, per year: $115,000 
</li>
<li>
New York Live/Work cost per worker, per year: $112,000 
</li>
<li>
Paris Live/Work cost per worker, per year: $107,000 
</li>
<li>
Singapore Live/Work cost per worker, per year: $76,000 
</li>
<li>
Tokyo Live/Work cost per worker, per year: $74,000 
</li>
<li>
Dubai Live/Work cost per worker, per year: $72,000 
</li>
<li>
Moscow Live/Work cost per worker, per year: $70,000 
</li>
<li>
Sydney Live/Work cost per worker, per year: $60,000 
</li>
<li>
Shanghai Live/Work cost per worker, per year: $44,000 
</li>
<li>
Rio De Janeiro Live/Work cost per worker, per year: $30,000 
</li>
<li>
Mumbai Live/Work cost per worker, per year: $28,000</li>
</ol>
Source: Savills
According to Savills, Brazil was “one of the big global success stories” of the decade from 2000, with 40 million Brazilians joining the country’s middle class between 2005 and 2011.
The report claims that “tougher policing” in Rio de Janeiro has “helped to pacify the drug controlled favelas”.
With this year’s World Cup and the Olympics in 2016, there have been significant infrastructure investments in the country. 
</body></html>

jrichardson-uRX5hFdKfN

Rio de Janeiro “the real success story of Brazil’s economic emergence”: Savills

<html><body>
Australians millionaires hold over 40% of their wealth in property, more than double the global average, the 18th annual World Wealth Report has found.
The report by Cap Gemini revealed there were 218,700 people in Australia who had US$1 million or more to invest (excluding their family home). That was up by 5.8% from 206,600 people a year earlier.
Cap Gemini wealth management specialist Dorus van den Bizenbos told Property Observer that Australian millionaires had always held around 35 to 40% of their wealth in real estate over the time since the first survey was conducted.
“The Australian dream is to own your home and people invest a lot in real estate because the market has been going up for years. It’s understandable and tangible and people want to own property,” van den Bizenbos said.
Real estate values across Australia rose 6.5% from 2013 to 2014, Cap Gemini’s analysis found. Van den Bizenbos said rising property prices were one of three contributors to the increase in the number of Australian millionaires during the year.
A strong economy, with GDP growth of 2.4% in Australia compared with the global average of 2.2%, and Australian share market gains of 15% also helped boost the ranks of Australian millionaires.
Rich people around the world held an average of 18.7% of their wealth in real estate, the 2014 World Wealth Report found. That was down from 20% in the 2013 report, with the shift going towards fixed income and alternative assets such as hedge funds, structured products and private equity funds.
“What we’ve seen is that people have started to spread out their wealth more,” van den Bizenbos said. “They retreated to cash in times of uncertainty and now they have got more confidence they are starting to invest more in alternatives.”
The report found there were 13.73 million high net worth individuals (people who had more than US$1 million to invest) in the 2014 report, almost two million more than in the previous year. That represented a 15% growth rate, the second largest increase since 2000.
North America had the largest number of high net worth individuals, while the Asia Pacific region was second and quickly catching up. 
</body></html>

Aussie millionaires hold twice as much property as their global counterparts

<html><body>
The most exciting design feature in your home is the contrast between that white and neon chevron throw and your tasteful dove grey couch.
When you step into your house, you’re greeted by a sea of neutral tones. You’re sick of pretending to care about scented candles.
Perhaps you, like Manhattan resident Chris Kooluris, could do with a trip down memory lane. This used to be his bedroom:
<img src="/images/2014/06/13/nFtxZ07.jpg" alt="">
Some US$48,000 later, this is his bedroom:
<img src="/images/2014/06/13/NPPiq6k.jpg" alt="">
Chris and his home <a href="/expert-insights/building/fantasy-renovation-manhattan-gamer-turns-his-apartment-into-a-video-game-arcade">made headlines last week</a> when he revealed his home, which he transformed into a home arcade – complete with pinball machines, arcade games, and action figures. 
If you’re feeling a little jealous of Chris’s apartment, never fear. You too could one day live in your own video game arcade.
First, you’ll need to get rid of all that timber. Timber floorboards, desk, cabinet, bedhead – there’s no room for organic materials in a 1980s style video game arcade. Out it goes.
Next, paint those sandy beige walls over to dove grey, and move in your first arcade game. This one’s pretty special: it’s a Donkey Kong: Kong Off game.
Chris tells Property Observer that this game used to belong to Donkey Kong champion Steve Weibe himself, and is signed by Weibe and his supposed nemesis (and hot sauce purveyor), Billy Mitchell. For those who aren’t as well versed in their Donkey Kong battle mythology as they should be, it might be time to take a break from the renovations to sit down and watch <a href="https://www.imdb.com/title/tt0923752/" target="_blank">King of Kong: A Fistful of Quarters</a>.
<img src="/images/2014/06/13/sn17cfn.jpg" alt="">
<ul>
<li>Cost: US $3,000 (AU $3,184)</li>
</ul>
The next arcade game in Chris’s collection is the Punch Out!! (fully restored, of course)
<img src="/images/2014/06/13/3.jpg" alt="">
<ul>
<li>Cost: US $2,100 (AUD $2,229)</li>
</ul>
Then comes the flooring. Chris chose colourful carpet floor tiles for his home arcade.
<img src="/images/2014/06/13/PKPNQwl%20-%20Imgur.png" alt="">
<ul>
<li>Cost: US $1,200 (AU $1,274)</li>
</ul>
Time for some more games, courtesy of Disney. There’s Tron, which Chris tells us is an original, “in very good condition with new side art, control panel and plastics”.
Then there’s Fix It Felix Junior, which some might recognise from the movie Wreck It Ralph. According to Chris, as few as 30 Fix It Felix original units exist, with less than 10 in private homes. He also got a Ms Pac Man unit, which plays 60 different games.
<img src="/images/2014/06/13/fIvlU5W%20-%20Imgur.png" alt="">
<ul>
<li>
Cost: Tron – US $2,500 (AU $2,652). Fix It Felix Junior – US $6,500 (AU $6,897). Ms Pac Man 60-1 – US $2,000 (AU $2,122)
</li>
</ul>
But of course, you don’t want to let your hobby make you anti-social. You’ll need a multi-player unit, like this Street Fighter II themed Dream Home Arcade Pedestal, which plays 25,000 different games.
And, of course, a television to go with it. And don’t forget the décor. It will look best surrounded by video game marquees.
<img src="/images/2014/06/13/eIm3hhl%20-%20Imgur.jpg" alt="">
<ul>
<li>Cost: Dream Home Arcade Pedestal – US $3,000 (AU $3,184). Sony 55 inch television – US $1,700 (AU $1,804). Video game marquees – US $500 (AU $531).</li>
</ul>
Even the most enthusiastic gamer has basic human needs. For that, there’s a vending machine. Look, it even has fruit.
<img src="/images/2014/06/13/pgif5x5%20-%20Imgur%201.png" alt="">
<ul>
<li>Cost: Rhino vending machine – US $350 (AU $371)</li>
</ul>
You tossed that bed, but you have to sleep on something. Chris went for a leather fold out futon, so there was plenty of room for game play in waking hours.  And, of course, a Teenage Mutant Ninja Turtles quilt.
<ul>
<li>Cost: Fold out bed - US $750 (AU $796). Teenage Mutant Ninja Turtles quilt - US $45 (AU $48).</li>
</ul>
<img src="/images/2014/06/13/xQwnhqo.png" alt="">
Any renovation show will tell you that details are everything. There’s Transformers artwork by Tom Whalen, stools, Twin Galaxies logo decal (apparently drawn up by Chris’s then fiancée) and Street Fighter action figures.
<ul>
<li>
Cost: Transformers artwork by Tom Whalen (framed) - US $350 (AU $371). Stools - US $300 (AU $318). Twin Galaxies Fat Head - US $120 (AU $127). Street Fighter SOTA Action Figures - US $600 (AU $637)
</li>
</ul>
But if you think that’s those constitute the finishing touches, you’re wrong. First, you’re going to have to lay down US $15,000 (AU $15,917) on a collection of Transformers. Property Observer, having a few Transformers collector contacts of our own, guesses that this collection (partially pictured below) took quite a few years for Chris to amass.
 <img src="/images/2014/06/13/nB8tKmo%20-%20Imgur.png" alt="">
<ul>
<li>Cost: Transformers collection - US $15,000 (AU $15,917).</li>
</ul>
Finally, there’s the pinball machine. While <a href="https://www.wired.com/2014/05/arcadia/" target="_blank">Chris told Wired </a>that he once promised to contain his hobby to a single room of his apartment, it seems that it’s spilled over into his living room, with this Lord Of The Rings themed pinball machine. 
<ul>
<li>Cost: Lord of the Rings pinball machine - US $7,000 (AU $7,428)</li>
</ul>
“Arcades are a gateway drug for a pinball collection,” Chris told Wired. While it looks like he'll press "A" to continue, the average person might put have put the controller down a long time ago.
All photos supplied by Chris Kooluris.
</body></html>

Renovation recreation: How to turn your bedroom into an arcade

<html><body>
Metal studs installed in an alcove at the entrance of a block of London residential flats have been described as “ugly, self defeating and stupid” by Mayor Boris Johnson.
The so called “anti-homeless” spikes have attracted widespread criticism after a picture of the spikes was <a href="https://www.facebook.com/photo.php?fbid=10154181616760058&amp;set=a.144410400057.227753.700465057&amp;type=1" target="_blank">posted on Facebook </a>and distributed on Twitter. An <a href="https://www.change.org/en-GB/petitions/mayoroflondon-residential-property-partners-remove-the-anti-homeless-spikes?recruiter=107232150&amp;utm_campaign=share_twitter_mobile&amp;utm_medium=twitter&amp;utm_source=share_petition" target="_blank">online petition</a> to remove the spikes has been launched, with 108,449 signatures gathered so far. 
According to the petition, the Southwark building in question is managed by Property Partners. London journalism student Nathan Fitzpatrick visited the building, <a href="https://storify.com/nathanfitz/twitter-reporting-on-anti-rough-sleeping-studs" target="_blank">reporting over Twitter</a> that he spoke to some of the building’s residents. The unnamed residents told Fitzpatrick that the spikes had been installed in “the past three to four weeks”, while Fitzpatrick noted that none of the residents he spoke to had been consulted about the spikes.
Johnson rebuked the spikes and urged the developer to remove them (although it has been noted elsewhere that it was not the building’s developers who installed the spikes).
“Spikes outside Southwark housing development to deter rough sleeping are ugly, self defeating &amp; stupid. Developer should remove them ASAP,” Johnston <a href="https://www.propertyobserver.com.au/https://twitter.com/MayorofLondon/status/475943253406412801" target="_blank">tweeted earlier this week</a>. 
“We've spent £34m on the likes of 'no 2nd night out, reaching 3/4s of rough sleepers, but must do more. <a href="https://www.propertyobserver.com.au/https://twitter.com/MayorofLondon/status/475945644302282752" target="_blank">Spikes are simply not the answer</a>.”
However, Buzzfeed has noted that these are not London’s first “anti-homeless” spikes, with reports of spikes appearing <a href="https://www.independent.co.uk/arts-entertainment/art/news/architecture-making-a-point-with-spikes-and-studs-for-the-homeless-for-weary-tourists-or-anyone-waiting-for-a-friend-london-buildings-have-offered-a-nook-or-windowsill-on-which-to-rest-not-any-more-mark-cole-looks-at-antipeople-adornments-1442470" target="_blank">as early as 1994</a>. 
<img src="/images/2014/06/12/fb2.jpg" alt="">
Source: <a href="https://www.facebook.com/photo.php?fbid=10154181616760058&amp;set=a.144410400057.227753.700465057&amp;type=1" target="_blank">Andrew Horton via Facebook</a> 
Despite the public outcry against the spikes, they have been defended by some, including <a href="https://imsorrythatimlikethis.wordpress.com/2014/06/07/the-spikes/" target="_blank">one nursing student</a> who claims that “sometimes you have to remove a person’s sleep site in order to engage that person” and prevent further risks to their health that come with rough sleeping.
“That’s why they’ve put the spikes there. Or made the benches single. Or too narrow to sleep on. Look around you. These measures are in place all over London.”
In a widely shared blog post, the student urges readers to worry instead about wider societal issues that contribute to people sleeping rough in the first place.
“If you’re worried about the spikes maybe instead you could worry about the housing shortage, or the lack of good mental health and drug and alcohol services in your area. Worry about how your local area is dealing with antisocial behaviour. Worry about children’s services, worry about decent homeless liaison teams in hospitals. Worry about the lack of shelters. Worry about the benefit cuts,” she writes.
As for the Southwark spikes, they have since been turned into an <a href="https://www.propertyobserver.com.au/https://twitter.com/olivia_solon/status/476050904362536962/photo/1" target="_blank">anti-Boris Johnson protest</a>.
<img src="/images/2014/06/12/Capture1.jpg" alt="">
Two plants have been placed on the spikes, along with a note that reads:
“13% INCREASE IN HOMELESSNESS UNDER BORIS AWARENESS GARDEN
ALSO A CARBON SINK” 
Have you seen any anti-homeless spikes where you live? How do you think the practice would be received in Australia? 
</body></html>

London’s “anti-homeless spikes” attract criticism from Boris Johnson

<html><body>
All the attention was on the art filled, stark white matrimonial home of Ron and Odetta Medich this week, given its eventual, but rather rapid sale this week.
<a href="/news/ron-medich-finally-sells-point-piper-harbourfront-trophy-home">It was sold for around $38 million</a> by the estranged couple.
But Title Tattle's antennae has been elsewhere too.
Back in the south of France where some of my recent sojourn was spent tracking down the retreat of Odetta Medich, the noted arts patron of Point Piper where Tasmanian tiger sculptures by Caroline Rothwell feature poolside on Sydney Harbour.
There'd been whispers ever since 2008 that she'd acquired a bolthole, though not much more than the suggestion it was somewhere between Monaco and St Tropez.
In mid-2010 provocatively Odetta tweeted: "st tropez is so much better than miami!!!!! love love love st tropez!!!!!!"
Earlier this year Title Tattle spotted <a href="https://www.facebook.com/photo.php?fbid=692598610784181&amp;set=a.404463676264344.94963.198495266861187&amp;type=1" target="_blank" style="line-height: 1.3em;">The World Of Interiors magazine</a>, January edition. 
While the apartment was not the one featured on the cover, there was a small noteworthy mention; 'Chameleon on the Cote d'Azur: The French Salon that turns into a New York loft'.
<img src="/images/2014/06/12/worlds-of-interrior-june-12.jpg" alt="">
Inside, the article made no mention of the owner's name, but the art work was the clue, as it was Odetta through and through.
It was especially the Caroline Rothwell mantlepiece sculpture that piqued Title Tattle's attention, and then the mention of the expatriate Australian architect Carl Pickering of Lazzarini Pickering. He is best known as having done  Icebergs restaurant in 2003 overlooking Bondi Beach, but he has been Rome-based since forming the partnership in 1983.
The magazine revealed it was in the coastal Beaulieu-sur-Mer town which, when it comes to the French Riviera, Title Tattle happens to know like the back of one's hand, second only to St Jean Cap Ferrat.
<img src="/images/2014/06/13/Beaulieu-sur-Mer-june-13-map-tow.jpg" alt="">
Courtesy of Google Maps.
The apartment's location, with its distinctive gargoyles, was indeed within view from the much frequented 81 route bus-stop.
The magazine spiel suggested the apartment was "the riddle on the Riviera".
<img src="/images/2014/06/13/interior-june-12-three.jpg" alt="">
Photo: Matteo Piazza. Source: World of Interiors, January edition.
"How do you give a Belle Epoque apartment on the Cote d’Azur the party-ready functionality of a New York loft? 
"You knock down the walls, replace them with panels that are actually doors – and scatter liberally with reflective black surfaces leading to ‘secret’ spaces," the magazine's Lee Marshall suggested.
The interior photography by Matteo Piazza revealed the restored stucco work, marble fireplace and newly installed pointe de hongrie oak parquet flooring inside the apartment.
<img src="/images/2014/06/13/interior-june-12-one.jpg" alt="">
<img src="/images/2014/06/13/interior-june-12-two.jpg" alt="">
<img src="/images/2014/06/13/interior-june-12-four.jpg" alt="">
<img src="/images/2014/06/13/interior-june-12-five.jpg" alt="">
Photos: Matteo Piazza. Source: World of Interiors, January edition.
Set on the busy road midway between Monte Carlo and Nice, the four storey Royal Residence has around 20 occupant buzzers with Odetta Medich having the split-level patio balcony apartment. It appears to have valley views of the town, but nothing much of the Mediterranean sea in view.
<img src="/images/2014/06/13/odetta%20june%2013%20one.jpg" alt="">
<img src="/images/2014/06/13/odetta_0001_2.jpg.jpg" alt="">
<img src="/images/2014/06/13/odetta-june-13-four.jpg" alt="">
<img src="/images/2014/06/13/odetta-june-13-two.jpg" alt="">
<img src="/images/2014/06/13/odetta-june-13-five.jpg" alt="">
<img src="/images/2014/06/13/odetta_0003_4.jpg.jpg" alt="">
<a href="https://www.ideainterni.com/residential.php?d=1&amp;g=1071" target="_blank">The Idea Interni builder's website gives photographic details</a> on the 2010 project. Ditto the stoneworks company, <a href="https://www.italworks-usa.com" target="_blank">Italworks</a> as the project progressed.
<img src="/images/2014/06/13/france-june-12-one.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-two.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-three.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-foor.jpg" width="533" height="450">
<img src="/images/2014/06/13/france-june-12-five.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-six.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-seven.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-eight.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-nine.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-ten.jpg" alt="">
Source: Ideainterni
Odetta, is Ron's second wife, 20 years his junior. The SMH investigative editor Kate McClymont once suggested the Lithuanian-born Mrs Medich had spent $5 million on the then unidentified French Riviera bolt hole. 
And Title Tattle will have to defer to Kate's price advisory given the difficulties of navigating the French commune's title transfers. Estate agent shop windows had prices ranges from €135,000 (A$195,000) for studio apartments to the dearest on offer at €4.2 million (A$6.4 million). And of course then there's the extraordinary renovation which these interiors show unfold. Possibly an over capitalisation? 
It is within a 1900 townhouse, which the magazine describes as handsome without pretension, Belle Epoque without too many frills and furbelows. 
Some of the locals know of her as Mme Odetta Chtouikite.
Feature photo of Beaulieu-sur-Mer: Ramón Cutanda López. Source: Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
</body></html>

jchancellor-FAypfDUnLy

Odetta Medich's French Riviera glamorous bolt hole: Title Tattle 

<html><body>
Model and actress Liz Hurley is selling one of her luxury Midland homes – for £6 million. 
The six bedroom Ampney Knowle (pictured above), near Cirencester, Gloucestershire has been listed so she can concentrate on decorating and furnishing Donnington Hall at Ledbury, Herefordshire.
Liz is planning to live at Donnington Hall, which is 40 miles away.
The larger 13 bedroom property was bought in 2012 with her ex, former Australian cricketer Shane Warne, so Title Tattle suggests it appears she will now buy out his half share interest.
“It’s no secret that I bought Donnington Hall with my former fiancé and it was a tough decision to choose which house to keep as I love them both," Liz told the The Sunday Times Home supplement after her recent decision.
“But I’m looking forward to decorating and furnishing Donnington.
“I’ll be sorry to leave Ampney Knowle because every inch of the house and garden holds a happy memory for me.”
The swimwear designer bought stone-built <a href="https://www.countrylife.co.uk/property/uk/properties/7392945/sales" target="_blank">Ampney Knowle</a> for £3.3 million in 2003.
It is set in 450 acres of Cotswolds countryside, has six bedrooms, a guest annexe, cottages in the grounds and outbuildings.
The Cotswold estate, that comprises more than 144 acres, <a href="https://search.knightfrank.com/cho140193" target="_blank">has been listed by </a><a href="https://search.knightfrank.com/cho140193" target="_blank">Knight Frank</a>.
</body></html>

Liz Hurley lists Ampney Knowle, to keep Donnington Hall

<html><body>
The International Monetary Fund’s Global Housing Watch has found that Australia ranks highly on a number of their calculations.
There were 19 countries recorded with drops in prices, with the biggest decrease seen in India with a -9.1% drop year on year.
Here are the countries that recorded an increase in value, and how they ranked. {plotalot id="17"} Source: OECD and IMF calculations
In the IMF’s other calculations, Australia sits within the top five (with Belgium, Norway, New Zealand and Canada just ahead) in terms of house prices being above rents, as well as scoring in the top three (with Canada and Belgium taking out top spots) as continuing to be “out of reach of household incomes”).
Deputy managing director for the IMF, Min Zhu, noted that house prices are inching up in <a href="https://blog-imfdirect.imf.org/" target="_blank">the IMF blog</a>.
"But is this a cause for much cheer?  Or are we watching the same movie again? Recall how after a decade-long boom, house prices started to fall in 2006, first in the United States and then elsewhere, contributing to the 2008-9 global financial crisis. In fact, our research indicates that boom-bust patterns in house prices preceded more than two-thirds of the recent 50 systemic banking crises," Zhu wrote.
He explained that theory asserts house prices, rents and incomes should move "in tandem over the long run", and that if these factors do not the people switch between buying and renting to eventually bring them into alignment.
"Similarly, in the long run, the price of houses cannot stray too far from people’s ability to afford them––that is, from their income. The ratios of house prices to rents and incomes are thus often used as an initial check on whether house prices are out of line with economic fundamentals," he said.
For Australia, he goes on to say that the ratios remain above the historical average.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
</body></html>

jduke-EHk3XBmHkn

IMF's Min Zhu: Are we "watching the same movie again" with house price rises preceding a crisis?

<html><body>
An Auckland couple have washed their hands of the rental market after attempting to lease out a fully furnished flat with a toilet in the kitchen. 
Unfortunately, this is <a href="/news/nsw/a-toilet-in-the-kitchen-a-strange-unit-layout">the second kitchen-toilet hybrid Property Observer has seen this year</a>.
The studio apartment in Auckland's Forrest Hill has a combined bathroom, laundry and kitchen.
<a href="https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&amp;objectid=11268470" target="_blank">The New Zealand Herald </a>reports that the rental was advertised on Trade Me, an online classifieds site, through Ray White (picture from the advertisement above). Agent Serena White told The New Zealand Herald that although she inspected the property before advertising it, she hadn’t noticed the bathroom bungle. She later asked the landlord to set up a partition.
"I shouldn't have done the advertisement first, I should have done the advertisement after," she said.
"We talked to the landlord, we can't list this kind of property. Some clients reported it wasn't legal."
The landlords, Anthony Wong and Anita Leung, agreed.
"I don't want to rent the room because we can't do the kitchen in the bathroom,” Leung told The New Zealand Herald. "It’s illegal."
The listing was reportedly pulled after prospective renters complained about the layout. It seems that even the inclusion of utilities in the rent wasn’t enough to lure toilet-shy tenants.
Earlier this year, a <a href="/news/nsw/a-toilet-in-the-kitchen-a-strange-unit-layout">Darlinghurst art-deco apartment</a> with a less than flattering view from the stove was listed for rent (pictured below).
<img src="/images/2014/06/11/darlinghurst_0002_3.jpg.jpg" alt="">
In defence of Darlinghurst, at least its toilet had a floor-to-ceiling glass door, which might provide the cook from noxious fumes and germs (if not an eyeful).
Not so for Auckland’s novoviral paradise, where the portable stove and toaster are set within full spray of the toilet. According to The New Zealand Herald, New Zealand building codes require that there is at least one door between the kitchen and the toilet. 
Thankfully, Wong and Leung say they haven’t rented the flat out before.
Feature photo source: Trade Me via The New Zealand Herald.
</body></html>

Toilet in the kitchen, number two

<html><body>
The Small Maldives Island Company has appointed Luke Mangan as the chef of their new resorts, responsible for food and beverages at Amilla, which opens in November, and Finolhu, due to launch in mid-2015.
There will be eight restaurants across the two islands with Lonu, the main restaurant on Amilla. Lonu is Maldivian for salt.
The new venture adds to his existing glass brasserie at the Hilton Sydney; plus Salt grills and/or bars in Surfers Paradise, Jakarta, Singapore, Bali and Tokyo.
The Maldives group is headed by hotelier, Tom McLoughlin, who created the world’s first underwater spa at Huvafen Fushi and the first underwater nightclub at Niyama. The group has also hired Australian hospitality executive Michael Flynn.
Amilla Fushi is an island resort located in Baa Atoll located in the pristine UNESCO biosphere reserve. 
Trained by renowned chefs Michel and Albert Roux, Luke Mangan opened his first Salt restaurant in Darlinghurst, Sydney, in 1999. glass brasserie, situated in the Hilton Hotel in Sydney, opened in 2005.
</body></html>

International

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

International

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News