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

Mosman

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Qantas Loyalty chief executive officer Lesley Grant has paid $2 million for a Mosman townhouse overlooking Middle Harbour.
The modern three bedroom, two bathroom home with separate study features numerous terraces and a ground floor courtyard.
McGrath Mosman agent Michael Coombs secured the sale. It was sold by interests associated with Ferrari Australasia chief Herbert Appleroth.
Grant has extensive experience in the aviation industry and has been CEO at Qantas Loyalty since 2012.
She was the architect of the creation of Qantas Loyalty, which last month reconnected its point system with the Woolworths Rewards program.
This article was first published in the Saturday Daily Telegraph.
 
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Mosman townhouse with Middle Harbour views sold

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Olympic rower James Stewart has quickly found a buyer for his Mosman home, Jasmine Cottage, ahead of its scheduled LJ Hooker auction.
Named Jasmine due to its wall of aromatic Jasmine flowers in the back yard, the circa 1910 Federation has three bedrooms and one bathroom.
James paid $811,000 in 2005 for the home and has renovated throughout.
It comes with a formal lounge room with restored ornamental fireplace, a custom gourmet kitchen and an entertaining courtyard.
James competed at the 1996, 2000 and 2004 Olympics with his twin brother Geoff.
They won a bronze medal in 2000 and again in 2004 when joined by younger brother Steve.
This article was first published in the Sunday Telegraph.
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Olympic rower James Stewart sells in Mosman

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After two false starts, the Olympic fast man Matt Shirvington and wife, Jessica have snappily sold their Mosman home on its third marketing campaign.
<a href="https://www.realestate.com.au/property-house-nsw-mosman-123329394" target="_blank">The updated 1897 Federation home</a> sold through McGrath's Michael Coombs to a local buyer.
Coombs had set an early spring September 10 auction date. The price guidance was around $4.3 million.
Set on a large 822 sqm corner block, the single level home has four bedrooms, a grand formal dining room and a private marble finished outdoor terrace. 
Shirvo, known as the second fastest Australian sprinter of all time, paid $2.5 million for the home in 2008, the year he retired as a professional athlete. 
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Matt Shirvington sells in Mosman pre-auction

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Morella, the unliveable Mosman mansion perched above Chowder Bay that has sat idle for 15 years, has been listed for sale.
More than $7.3 million is being sought for what remains of the home built in 1939 for the Parer family.   Executors of the estate, McGirr Lawyers have instructed LJ Hooker Lower North Shore agents Geoff Smith and Richard Harding to put it to September 29 auction.
It will be welcomed by the many disgruntled nearby neighbours who have periodically called the police to the long abandoned property whenever it was occupied by teenagers at night.
Morella could return to be one of Mosman's most noteworthy residences, with its position upon the Taylor Bay Walk, but it would take a huge renovation. 
After it was designed by architect Eric Nicholls, who was Walter Burley Griffin's partner, the 1943 edition of Australian Home Beautiful magazine devoted six pages to its sandstone grandeur. 
“An immense circular loggia is built out from the central hall facing the water,” the article said.
“Its short Corinthian pillars support an equally huge open sun deck reached from the bedroom above.
“Then beneath this, for the site of the house slopes steeply down to the water, excavation has been made for the building of a ballroom across the entire front of the house.”
The home on its 865 sqm block is listed as a heritage item under Mosman’s Local Environment Plan.
It was built for Leo Parer, who was a director of the Stanford X-Ray company, and his wife Helena.
They lived there with their three children, Anthony, Mariana and Sarita.
In 2005 when NSW Heritage met with Anthony Parer the cost of fixing the home was estimated as in excess of $1 million, which Parer advised the family did not have.
This article was first published in the Sunday Telegraph.
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Historic Morella set for new ownership in Mosman 

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After two false starts, the Olympic fast man Matt Shirvington and wife, Jessica have relisted their Mosman home for a third marketing campaign.
The updated 1897 Federation home dropped off online listing sites earlier this year, but is back this time through McGrath's Michael Coombs.
Coombs has set an early spring September 10 auction date. The price guidance is $4.3 million to $4.6 million.
It had previously been with Belle Property Mosman which failed to sell the home after over 100 days on market.
The couple tried to sell the home back in 2012, however failed after spending 65 days on the market.
Set on a large 822 sqm corner block, the single level home has four bedrooms, a grand formal dining room and a private marble finished outdoor terrace. 
Shirvo, known as the second fastest Australian sprinter of all time, paid $2.5 million for the home in 2008, the year he retired as a professional athlete.
Since life off the track, Shirvington has appeared on Dancing with the Stars, and is currently a sports presenter for Sky News Australia and host of Fox Sports NRL coverage.
He and wife, author Jessica are childhood sweethearts, having been together since they were 17. She is the author of the popular Violet Eden Chapters series.
They have two daughters, Sienna and Winter.
Mosman is one of the slowest selling private treaty markets, according to CoreLogic, with their time on market currently at 70 days. The Sydney average is 34 days.
This article was first published in the Saturday Daily Telegraph.
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Matt Shirvington tries for third time to sell in Mosman

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The top selling property for the week ending August 7 is a four bedroom family home in Sydney's Mosman.
The property, 43 Bradleys Head Road, Mosman, was sold for $5.62 million through Simeon Manners Property, Mosman,
Top 10
43 Bradleys Head Road, Mosman, NSW 4 bed, 3 bath, 2 car house $5,620,000 Simeon Manners Property Mosman 
6/93 Elizabeth Bay Road, Elizabeth Bay, NSW 3 bed, 2 bath, 2 car unit $5,000,000 Richardson &amp; Wrench Elizabeth Bay/Potts Point 
45 Central Avenue, Mosman, NSW 4 bed, 4 bath, 2 car house $4,600,000 McGrath Estate Agents 
31 Hezlet Street, Chiswick, NSW 4 bed, 3 bath, 2 car house $4,505,000 PRB Real Estate Five Dock 
15 Cairo Street, Cammeray, NSW 4 bed, 4 bath, 1 car house $4,300,000 Justin Ferguson Property Specialists Cammeray 
61 Bulkara Road, Bellevue Hill, NSW 3 bed, 2 bath, 1 car house $4,150,000 Biller Property Double Bay 
9 Victoria Avenue, Canterbury, Vic 3 bed, 2 bath, 2 car house $4,110,000 Kay &amp; Burton Hawthorn 
8 Moonbria Avenue, Kew, Vic 5 bed, 3 bath, 2 car house $3,825,000 Jellis Craig Boroondara Group Hawthorn 
2 Warren Ball Avenue, Newtown, NSW 4 bed, 2 bath, 1 car house $3,760,000 Ray White Newtown 
12 Robinson Street, Malvern, Vic 4 bed, 2 bath, 4 car house $3,600,000 Marshall White Armadale 
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Mosman sale leads CoreLogic top 10

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ALDI have secured a 1500 sqm store site on Sydney's affluent Lower North Shore in Bridgeport Shopping Centre in Mosman.
Set to open in May 2017, ALDI will now be able to fill a major gap in their network with their nearest stores being in Manly, North Sydney and Chatswood.
“ALDI will function as the major customer attraction on Level 1 of the centre – complementing the offer of Harris Farm and IGA on the ground floor," said Bob Walsh, Principal of centre managers and retail leasing agents Ray White Retail. 
“The addition of ALDI will reinforce Bridgepoint's position as the premier shopping centre on the Lower North Shore."
“Bridgepoint is already rated in the top six shopping centres nationally for sales per square metre for centres of this type,” he said.
Bridgepoint Shopping centre is 6800 sqm in size and, in addition to the three major food tenancies, has 35 specialty stores. 
It was acquired by a local property trust through Ray White Retail for $43 million in mid-2011.
The announcement comes as the centre embarks on a $10 million refurbishment that will involve the provision of new enlarged customer amenities, as well as a comprehensive aesthetic upgrade.
Most notably, a new large passenger lift will be installed that will link both retail levels with all car parking levels.
 
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Aldi set to open Mosman store

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Merrill Lynch's head of investment banking David Wood and wife Jillian have secured a buyer for The Briars, their Mosman Federation following their reputed $10 million purchase at Clifton Gardens.
The couple bought for $2.976 million in 2008 when Wood was managing director of Rothschild.
<a href="https://www.realestate.com.au/property-house-nsw-mosman-122541182" target="_blank">The renovated five bedroom 1907 home</a> sold through David Murphy Real Estate who had a price guide of between $4.8 million and $5.1 million.
The couple were underbidders on the Vestey family's Kirribilli harbourfront which sold for $10.22 million, but instead secured Prince Albert House from the Alpe family with extension by Giles Tribe Architects with Thomas Hamel interiors through McGrath’s Michael Coombs.
This article was first published in the Saturday Daily Telegraph.
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The 1907 Briars, Mosman sells

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The recently appointed Fairfax Media director Patrick Allaway has spent $3.95 million on a Mosman home.
<a href="https://mnb.ljhooker.com.au/2CQKF6N/34a-esther-road-mosman" target="_blank">The three-bedroom purchase</a> marked a return to Mosman for Allaway and his wife Elizabeth following two years of city apartment ownership.
Their prior Mosman home was sold for $14 million in 2012 to UBS boss Matthew Grounds.
Their redundant apartment was sold late last year to the chief executive of Fairfax Media Greg Hywood for $4.1 million.
Set in The Residence overlooking Hyde Park, the media company boss bought the three-bedroom apartment directly from the Allaways, who had paid $2.8 million in 2013. Allaway has 30 years experience in the global finance industry.
This article was first published in the Saturday Daily Telegraph.
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Fairfax director Patrick Allaway secures smaller Mosman home

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There's a restart with the former Australian sprint champ turned television presenter Matthew Shirvington hoping to sell his Mosman home.
Shirvington and wife Jessica listed the home in 2012 but couldn't find a buyer.
They paid a bullish $2.5 million for the late 1880s home in 2008 and renovated it in 2010, the year he joined Sky News Australia as their sports presenter.
Met by a striking entry foyer, the home retained some of its original features, such as its formal banquet dining hall and a sunroom with original tessellated tiles.
Set on an 822 sqm parcel, the family home has four bedrooms and a kids playroom which opens to private courtyard gardens with established vegetable and herb gardens.
The property is listed through Belle Property. 
Shirvington was a five-time 100 metre Australian track champion and represented Australia in the Sydney Olympic Games.
He took part in Dancing with the Stars in 2004 whilst in athletics before retiring completely in 2008.
Since leaving the track Shirvington has featured as a guest on the Biggest Loser and he has been the host of Fox Sports NRL coverage and joined The Back Page as a co-host.
The Olympian stayed in athletics in Australia, working with St George Illawarra Dragons in 2012 pre-season as their sprint training coach.
The second fastest Australian in history.
Author Jessica Shirvington is known for The Violet Eden Chapters.
They have two daughters Sienna and Winter.
The family are now based in Cremorne Point having paid $8.4 million for the manor-style mansion Belvedere last year
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