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

John Mcgrath

<html><body>
The changing market conditions and the growing speculation about the end of the property boom is just that, speculation.
The market is not about to crash, but a slowdown may have begun, according to property expert John McGrath.
“This sort of chatter happens at the end of every boom. I have seen it time and time again over 30 years and the ‘doom and gloom’ predictions simply haven’t eventuated,” said McGrath in his recent Switzer column.
Booms don’t end in a crash, they take a gradual course, and this might be the start of a slowdown in Sydney and Melbourne, says McGrath. 
“Or we might not be – no one knows.”
But there’s a few small signs that the market is slowing and that’s the headlines and predictions of price falls. The key is not to panic, he advises.
“I’d actually encourage you to welcome a slowdown in growth. After a long period of price rises – about 75 percent in Sydney alone, we need a period of consolidation that will put a floor under these new price levels and provide stable ground for home values to rise strongly again in the next boom. 
“Of course, no home owner likes to see prices go down. But it’s important to remember that if we do see some price reductions, they’ll be small and short term.”
He dwells on the fact that good quality properties double in value every decade but growth is never in a straight line. More often than not, we have a few years of strong growth, a few years of little growth and round in circles we go.
“I’d advise you to ignore all suggestions of a market crash. It’s not going to happen. Yes, we’ve had phenomenal growth over the past five years. That doesn’t mean we’re due to have phenomenal declines.”
Property is now analysed, or should I say over-analysed, as closely as the stock market but property is not an asset class that changes overnight. 
“We have too much population growth fuelling demand and too much of an undersupply to experience a crash.
“Overseas commentators, in particular, do not understand this. They also don’t appreciate how ingrained it is in our culture to pursue property ownership. 
“We have entirely different dynamics to overseas markets that will continue to keep our property values strong well into the future.”
Sydney and Melbourne
To the question on whether the Sydney and Melbourne markets are turning, he says  no one can identify the exact time of a turn – it will only become clear several months after it has happened because once again, the property market changes at a very slow pace.
The supply of established housing stock available for sale in Sydney and Melbourne is at its highest level for this time of year since 2012, CoreLogic figures show. 
Does this indicate slowing demand? Yes. Is it a sign that the market is actually slowing or just a blip? We don’t know yet, he says.
Saturday auction clearance rates remain very high. About 60% represents a normal market. About 80% represents a boom. For the past couple of months, Sydney has been in the 70 percent - 75 percent range. Does this indicate a slight drop in demand? Yes. Is demand still strong? Absolutely.
Again, when the property market slows down after a boom, it does so very, very gradually. In my opinion, I do think the Sydney and Melbourne markets are at, or near, their peak for this growth cycle. What’s going to happen next? The two most likely eventualities are as follows:
1. The pace of growth in property prices will slow down but not stop. Property prices will keep growing but at a lesser rate per year.
2. We have a minor correction, where the market will do as it has done before and give back about half of the prior year’s growth, so that would be around 5%.
 “Neither scenario is cause for panic. If the boom is indeed over, then here’s my advice to people in the market.
<ul>
<li>If you are a recent buyer, don’t panic. Yes, you’ve purchased at what is probably the peak of the cycle but if you plan to hold long term (which is what you should always do) then it won’t matter if we experience a small correction. You’ve purchased a sound investment during a time of record low interest rates. Think about what your property will be worth in 10 years’ time – probably double! </li>
<li>If you are in the market to buy, don’t put it off because you think prices will plunge – it never happens that way. Take a sensible measured approach, set a budget and buy the right property for you.</li>
<li>If you are thinking of selling, now’s the time. It feels to me like we’re at, or close, to the peak of this cycle, so if you want to fully capitalise on this boom, now is the time to sell.</li>
</ul>
 “Property is a fantastic vehicle for wealth creation if you can hold it long term,” he says, concluding that it means riding out market slowdowns without panicking and staying focused on the goal of debt-free ownership down the road.
</body></html>

jonathanchancellor-7SQnKwU6yx

The property boom will end slowly, with no cause for panic: John McGrath

<html><body>
John McGrath, the founder and executive director at McGrath Estate Agents, has urged his remaining 700 plus estate agents not to let the recent defections "quash our dreams and progress for long."
In an internal letter, leaked to Property Observer, he said a small group of people had not just left the company but sought to unleash a full-frontal attack.
"They actually started this process long before they departed and whilst we were paying them handsomely and confiding our plans with them."
He said "for that reason, I have zero respect for any of them."
"This attack has predominantly been targeted at our Sydney Inner City Company Owned offices.
"The damage will be mainly felt in those precincts until we replace them (with better people with integrity I can assure you!)."
He noted because McGrath was a public company, the events "will make this seem like a bigger deal than it is."
"For most of us the best way to deal with this is to remove it from your mind and conversations and focus on the most important job of looking after your clients and customers as you always do."
"The thing that annoys me more than anything else is there is sooooo many amazing stories of great success and personal growth inside the business and on behalf of our clients that this unsavoury group seeks to nullify and mask that with their dirty tactics and mudslinging.
"But I can assure you that nobody will ever quash our dreams and progress for long. 
McGrath said he had been spending most of the summer break working on progressing the new agent app.
"I believe the Agent App will be the most revolutionary piece of technology in the Australian real estate industry.
"It will, when complete, reduce the amount of work involved in listing and selling a property (initially for sales but then PM also) from about 4-6 hours per listing to less than 15 minutes."
The agents that defected from McGrath are set to <a href="/news/defecting-mcgrath-agents-to-launch-the-agency">launch their new company, The Agency</a>, next week.
Due to the loss of the 36 agents, McGrath shareholders have been told to expect a weaker revenue in the second half of this year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/24/McGrath%20page%201.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/24/MCGRATH2.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/24/MCGRATH%203.jpg" alt="">
</body></html>

jchancellor-FAypfDUnLy

John McGrath attacks 'unsavoury' defecting agents - and pins hope on new real estate app

<html><body>
The biggest overhaul of NSW strata laws in four decades is about to make apartment and townhouse living that much easier, according to estate agent John McGrath.
Affcecting those who own, rent or manage strata properties, more than 90 individual changes to strata legislation have been approved by the NSW Government.
It followed five years of public consultation which saw 3,000 submissions.
Most of the changes are effective from November 30.
"Not only are there changes for owners, but tenants are included too, which is an important step given the rising number of people renting their homes these days," John McGrath noted.
Owners can set a broader range of community rules, such as allowing or restricting pet ownership, classifying smoking as a nuisance (thus enabling more action to be taken against residents whose smoke drifts into neighbouring abodes), and paying the local council to issue parking fines for unauthorised use of common property, such as visitors’ parking spaces.
"There are some common sense changes in relation to how a strata property is run, such as allowing owners to use technology to communicate on issues, participate in meetings and cast their vote.
"This includes the use of social media, video and teleconferencing, electronic voting and distributing papers via email," he noted.
Tenants will have the right to attend owners’ corporation meetings, but won’t be able to speak or vote unless they hold a proxy on behalf of an owner. 
</body></html>

Strata law overhaul to improve apartment living in NSW: John McGrath

<html><body>
Property expert John McGrath has encouraged first home buyers to look deeper into the grants and stamp duty concessions available to them. 
In his latest his latest Switzer blog he says with first home buying across Australia at its lowest level in more than a decade he wants to encourage young people to re-think their position, adding every single state and territory in Australia is currently offering assistance to first home buyers – and not just on new property purchases either.
"Every now and then the rules change and young people need to keep abreast of these changes so they can best take advantage of them," he said.
"For example, did you know the Queensland Government has introduced a $5,000 boost to their First Home Owners’ Grant for this financial year only? This is a one-off, one-year boost to the grant from $15,000 to $20,000 that will end on June 30, 2017.
"While it’s true that all grants are limited to newly-built, off-the-plan or substantially renovated properties, some stamp duty concessions apply to both new and established homes.
"It’s really worth taking the time to check out exactly what assistance is available to you, especially with interest rates at such record lows and likely to stay this way indefinitely. If you put these two factors together, motivated first home buyers can do very well right now.
"Although affordability is a big hurdle in cities like Sydney, I see a major opportunity ahead for young buyers in prime east coast markets.
"That opportunity is the impending oversupply of new apartment stock in Melbourne, Brisbane and to a slightly lesser extent, Sydney. Where a market is oversupplied, prices fall. It’s that simple and that means opportunities for buyers.
"The impending apartment oversupply means first home buyers will be able to:
<ul>
<li>    Buy for a better price</li>
<li>    Have more negotiating power</li>
<li>    Have more choice of property available to them</li>
<li>    Have more time on their side to choose their next home</li>
<li>    Get tens of thousands of dollars in grants and duty concessions to assist them</li>
</ul>
He gave a few few words of caution for potential buyers to heed when buying in an oversupplied market.
"You have to be careful in your choice of location. Pick a desirable area close to amenities with easy access to major employment hubs. Once the oversupply has been absorbed (which might take a few years), prices will begin rising again in good quality suburbs.
"Be careful in your choice of product. Focus on good quality developments and choose an apartment that has some unique features, such as a particularly large floor plan, generous balconies or courtyards, great privacy, views or a north aspect. Avoid small uninspiring apartments in developments where every property is the same.
"Shop around for finance. Some lenders are avoiding certain postcodes (primarily central CBD areas) not because they’re bad areas to buy in, but because the oversupply creates too much short-term risk for the banks. So you’ll need to talk to a broker to find out which lenders are appropriate for you if you want to buy in these areas.
"Buy for the long term. I can’t stress this enough. The oversupply will take some time to run its course. Don’t put yourself in a situation where you need to sell during the oversupply period. Oversupplies are only advantageous to buyers.
"Here is a brief overview of the grants and stamp duty concessions available in each state and territory. For more comprehensive information, go to <a href="https://www.firsthome.gov.au" target="_blank">www.firsthome.gov.au</a>."
New South Wales
Grants
Name: First Home Owner Grant (New Homes) scheme
Eligible price point: $750,000 or less
Eligible properties: New homes
Amount: $10,000
Stamp duty concessions
Name: First Home – New Home scheme
Eligible price point: Full exemption up to $550,000, concessional rates for new homes valued between $550,000 and $650,000
Eligible properties: New homes
Victoria
Grants
Name: First Home Owner Grant
Eligible price point: $750,000 or less
Eligible properties: New homes
Amount: $10,000
Stamp duty concessions
Name: First home buyer duty reduction
Eligible price point: $600,000 or less
Eligible properties: All properties
Amount: Up to 50% discount on stamp duty
Note: A second scheme called the Off-the-Plan Concession provides a further discount specifically for off-the-plan purchases
Queensland
Grants
Name: First Home Owners’ Grant
Eligible price point: $750,000 or less
Eligible properties: New homes
Amount: $20,000 until June 30, 2017
Stamp duty concessions
Name: First Home Concession
Eligible price point: $550,000 or less
Eligible properties: All properties
Amount: Stamp duty exempt to $500,000, sliding scale from $500,000 - $549,000 
Note: A second scheme called the Home Concession provides stamp duty concessions on all properties at any price point purchased for owner-occupation. If your first home is above $550,000, you can apply for a concession through this scheme
Australian Capital Territory
Grants
Name: First Home Owner Grant
Eligible price point: $750,000 or less
Eligible properties: New homes
Amount: $10,000
Stamp duty concessions
Name: Home Buyer Concession Scheme
Eligible price point: Full concession up to $455,000; sliding scale to $585,000
Eligible properties: New homes
Other criteria: Gross income thresholds apply. For example, the threshold for applicants without children is $160,000. You do not need to be a first home buyer but you cannot have owned property for the past two years
Amount: Stamp duty reduced to just $20 on properties worth $455,000 or less
Western Australia
Grants
Name: First Home Owner Grant
Eligible price point: $750,000 cap on properties south of the 26th parallel (i.e. Perth metropolitan areas) and $1 million cap on homes north of the 26th parallel
Eligible properties: New homes
Amount: $10,000
Stamp duty concessions
Name: First Home Owner Rate of Duty
Eligible price point: $530,000 or less
Eligible properties: All properties
Amount: Stamp duty exempt on homes worth $430,000 or less. Sliding scale of concessions on homes valued $431,000 - $530,000
South Australia
Grants
Name: First Home Owner Grant
Eligible price point: $575,000 or less
Eligible properties: New homes
Amount: $15,000
Stamp duty concessions
Name: Off-the-Plan Apartment Concession
Eligible price point: No threshold
Eligible properties: Off-the-plan apartments
Amount: Partial concessions available until June 30, 2017. Amount depends on the stage of construction at the time of purchase
Northern Territory
Grants
Name: First Home Owner Grant
Eligible price point: No threshold
Eligible properties: New homes
Amount: $26,000 plus a further grant of up to $2,000 under the Household Goods Grant Scheme
Stamp duty concessions
Name: First Home Owner Discount
Eligible price point: $650,000 or less
Eligible properties: Established properties
Amount: Stamp duty exempt up to $500,000; sliding scale to $650,000. Flat $10,000 duty discount for homes worth more than $650,000
Tasmania
Grants
Name: First Home Owner Grant
Eligible price point: No threshold
Eligible properties: New homes
Amount: $20,000 until June 30, 2017 and $10,000 from July 1, 2017
Stamp duty concessions
None available
</body></html>

John McGrath sees big opportunities for first home buyers

<html><body>
McGrath Limited has announced the appointment of Cameron Judson to the position of joint chief executive officer of the company.     
Cameron has held a number of senior roles, with previous positions at Chandler Macleod Group, Chubb Security and TNT Express.
In his most recently role as CEO of Chandler MacLeod Group Limited, Cameron led the strategy development, transformation, diversification and growth of the business to create one of the leading HR services organisations in Australia.
He has been appointed as the company continues its rapid growth plan in key Australian markets.
McGrath founder and now joint CEO John McGrath said he is excited about working with him.
"We are extremely excited about working together, and drawing on the new perspectives Cameron brings to the company," he said.
“Cameron brings a wealth of professional services industry experience to McGrath, as well as a proven track record as the CEO of a listed, $1.4 billion revenue company."
"This appointment will allow me to focus my efforts and energy on my strengths including our people, brand, innovation and growth strategies."
"With decades of successful real estate experience available to him within the existing management team we know this will be an effective combination."
McGrath, who joked he would be around “for another 27 years”, made the announcement just eight months after it listed on the ASX with the shares trading still at less than half its float price.
"I’m looking forward to working alongside this already talented management team to assist them in growing what I believe to be the most exciting real estate brand in Australasia into the future,” Cameron Judson said.
 
</body></html>

John McGrath to share CEO role

<html><body>
With affordability being such a hot topic of late, a new report from CoreLogic RP Data on the most affordable suburbs in every capital city was timely, says property expert John McGrath, even though many are on the outskirts.
In fact, in the case of NSW, four out of the top five cheapest suburbs are actually on the Central Coast, which is increasingly being seen as an extension of metro Sydney and becoming a popular choice for first home buyers willing to commute, McGrath wrote in his Switzer blog. 
"However, these lists do remind us that there are affordable locations in or very close to every capital city," he says. 
"Here’s another angle on the whole affordability debate. Prices aren’t going to change (at least not much) but there are things you can do yourself to improve your own ‘affordability’."
The best possible thing to do is take advantage of historically low interest rates, he advises. The interest on your home mortgage will always be your greatest expense as a first home owner, so low interest rates can make a huge difference. For further security and sleep-at-night comfort, lock in those rates with a fixed loan for 3-5 years
Another option could be considering a second job.
"Think outside the square about what else you could do – maybe from home, to pick up some extra cash to contribute to your deposit. Alternatively, if you feel you deserve a pay rise at work, ask for one!        
"Just be prepared to explain why you deserve it."  
Compromise on property type
<ul>
<li>Consider an apartment, townhouse or villa over a house; and</li>
</ul>
<ul>
<li>If you really want a house, consider buying an original home that you can renovate over time  </li>
</ul>
Talk to a broker who can shop around for you, as lenders have vastly different criteria for assessing borrowing power – in some cases, the amount lenders are willing to give to the same candidate can vary by tens of thousands of dollars 
Compromise on your desired location
<ul>
<li>Look at areas immediately surrounding your target suburb – you might be surprised how much less you’ll pay just next door; and </li>
<li>Consider cheaper suburbs in the same city that offer a similar lifestyle. For example, if you enjoy living close to the beach, do some research on other beach areas. For example, compare these median prices for one bedroom apartments in these popular Sydney beach suburbs: </li>
</ul>
         - Bondi $740,000          - Manly $656,500           - Dee Why $550,000          - Cronulla $480,000
Source: realestate.com.au
What is probably most notable here is the $100,000-plus difference between Manly and Dee Why. These are both Northern Beaches suburbs with their own beaches and established shopping and dining precincts and they’re only 10-15 minutes apart by car. 
Cheapest capital city suburbs (Houses)
New South  Wales
Spencer (Gosford area) $342,372 
San Remo (Wyong area) $371,669 
Mannering Park (Wyong area) $390,821  
Victoria
Melton (Melton area) $265,335
Melton South (Melton area) $280,966
Millgrove (Yarra Ranges) $294,664
Queensland
Russell Island (Redland area) $225,655 
Dinmore (Ipswich area) $227,512
Leichhardt (Ipswich area) $227,658
South Australia
Davoren Park (Playford area) $179,954
Elizabeth North (Playford area) $180,191
Smithfield Plains (Playford area) $192,237
Western Australia
Medina (Kwinana area) $276,935
Calista (Kwinana area) $308,061 
Parmelia (Kwinana area) $309,380
Tasmania
Herdsmans Cove (Brighton area) $137,724
Gagebrook (Brighton area) $140,650
Clarendon Vale (Clarence area) $154,642 
Northern Territory
Moulden (Palmerston area) $465,257
Gray (Palmerston area) $492,119
Woodroffe (Palmerston area) $511,911
ACT
Charnwood (ACT) $400,119
Ngunnawal (ACT) $435,859
Holt (ACT) $442,124
*Source: CoreLogic RP Data – only suburbs with at least 10 sales over the 12 months to January 2016 are included 
<div> </div>
</body></html>

po-LsXgBTHBmX

John McGrath on the most affordable suburbs 

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The listed residential real estate group McGrath have strengthened their presence in Victoria as they open their doors today.
The new office is located in Melbourne's south east suburb Mount Waverley.
McGrath Waverley follows the opening of the company's first Melbourne office in St Kilda in December.
McGrath chief executive John McGrath has said choosing Waverley was a carefully considered and strategic rollout of premium franchises in Melbourne.
“Mount Waverley is one of Melbourne’s most dynamic and sought-after suburbs."
"With a selection of leading schools and an emerging Chinese community, the area has experienced strong growth and buyer demand," he said.
House prices in Mount Waverley have increased by 33 percent in the last 12 months and the median price for apartment grew by 16 percent.
The Real Estate Institute of Victoria reported that in 2015 Mount Waverley had one of the highest median price increases of any Melbourne suburb.
As well as Mount Waverley, the new office will focus the suburbs Ashwood, Chadstone, Glen Waverley and Wheelers Hill and will manage over 250 properties.
It will be headed by the former Jellis Craig employees Con Lazogas and Hugh Trieu.
</div>
</div>
</div></body></html>

jrobinson-rf4aSBido9

McGrath opens second Melbourne office

<html><body>
McGrath Limited has reached agreement to acquire the largest franchise group within its network.
The acquisition will result in 10 McGrath franchise offices across Sydney’s mid to upper North Shore, North-West and Northern Beaches region, becoming McGrath company owned offices.
The 10 McGrath offices, under the leadership of Shane Smollen, was one of the largest real estate agency groups in Australia.
They have 65 sales agents, including 12 of the highest performing sales agents in McGrath’s current top 25 agents over the past 12 months.
They also have over 2,200 properties under management across these regions.
The acquisition will result in McGrath’s company owned division having one of the largest property management portfolios in Australia with over 7,200 properties.
McGrath chief John McGrath said this was a "strategic step" in the company’s growth plans.
“Our model is a hybrid of both company owned offices as well as franchises and we are equally passionate about both sides of our business.
"We are continuing to rapidly grow our franchise network organically into other high value high volume markets whilst never losing focus on McGrath’s most important stakeholders, being our team and our customers.
"Scale will be a key differentiator in this new world where innovation and continued significant investment in technology will be critical.”
The McGrath offices acquired are located in Crows Nest, Epping, Ryde, Lane Cove, Pymble, Hunters Hill, Castle Hill, Lindfield and the Northern Beaches.
McGrath Limited has been tipped as undertaking a public float.
</body></html>

McGrath Ltd acquire Shane Smollen's 10 Sydney franchise offices

<html><body><div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
The McGrath estate agency group recorded $12.3 billion in residential sales from 11,760 properties for the year ending June 30, marking a 21.7% increase on the corresponding prior year.
The group sold 10,574 properties in the prior financial year for a total of $10.1 billion. Some 7,870 properties sold for a total of $7 billion in the 2013 financial year.
Headquarters McGrath Edgecliff made some 1,110 sales for a total of $1.61 billion - a 28% increase during the 2014/15 financial year. 
McGrath chief executive John McGrath  said Sydney, in particular, has proven to be one of the most resilient property markets in the world with long term fundamentals that underpin the marke 
"While the investors and upgraders have continued to dominate our markets along the eastern seaboard, the top end of the market is finally starting to see some good momentum," Mr McGrath said.
"As our dollar continues on a downward trend, I anticipate increased interest from expat and offshore buyers as they benefit from a 25% currency reduction on what they were paying 18 months ago.
"As Sydney’s auction clearance rates are holding steady in the 80% plus range, one of the things helping the Sydney market along is the strengthening NSW economy and high levels of migration.  The boom will end at some point, but that doesn’t mean price growth will end, but rather continue in a more moderate fashion."
 
Ten offices across the McGrath network recorded in excess of 50% growth in sales in FY15:
<ul>
<li>McGrath Buderim sold $113.1 million from 172 sales, compared to $49.3 million in FY14 (+129%) </li>
<li>McGrath Lindfield sold $450.4 million from 401 sales, compared to $200.3 million in FY14 (+125%) </li>
<li>McGrath Avalon sold $56.9 million from 45 sales compared to $29.2 million in FY14 (+95%) </li>
<li>McGrath Thirroul sold $111.6 million from 151 sales, compared to $63.8 million in FY14 (+75%) </li>
<li>McGrath Byron Bay sold $84.9 million from 104 sales, compared to $48.8 million in FY14 (+74%) </li>
<li> McGrath Wollongong sold $106.3 million from 169 sales, compared to $61.5 million in FY14 (+73%) </li>
<li>McGrath Dickson (ACT) sold $117.9 million from 182 sales, compared to $77.1 million in FY14 (+53%) </li>
<li>McGrath Epping sold $478.1 million from 332 sales compared to $288.0 million in FY14 (+66%) </li>
<li>McGrath Parramatta sold $323.5 million from 372 sales compared to $210.4 million in FY14 (+54%) </li>
<li>McGrath Terrigal sold $271.7 million from 363 sales, compared to $178.6 million in FY14 (+52%) </li>
</ul>
</div>
</div>
</div></body></html>

McGrath group residential sales better $12 billion in FY15

<html><body>
The McGrath estate agency was expected to generate earnings before interest and tax of about $20 million in fiscal 2016 and net profit of about $15 million, according to The Australian Financial Review which has again updated details on the prospect that John McGrath intends floating his estate agency around November.
The Street Talk column advised his plans to sell down a meaningful stake in his business as part of a mooted $200 million initial pubic offering.
"Street Talk understands the exact size of McGrath's sell down is contingent upon a number of factors including the sale route and whether the company undertakes a significant acquisition before any transaction," it said.
Increasing loose sources said Bell Potter and JPMorgan are in the box seat to secure the advisory roles.
Luminis Partners is advising the company.
<div>
The sources said McGrath was eyeing a major acquisition that would boost earnings materially before the float. 
The Australian says McGrath Estate Agents is aiming to raise $100 million.
 
 
</div>
</body></html>

John Mcgrath

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

John Mcgrath

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News