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

Newtown

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A historic Newtown home has been listed with record setting $5 million plus hopes.
The 131-year-old home at 20-28 Munni Street goes to auction on August 19. 
 The 622-square-metre block is one of Newtown’s largest single landholdings. There is a four-bedroom, three-bathroom house built in 1876.
The house last traded in 1988 for $368,000.
Musician Lara Goodridge holds the record with her recent purchase of a terrace on Watkin Street Newtown for $3.8 million.
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Heritage Newtown trophy home with $5 million hopes

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A four bedroom Newtown, NSW Victorian terrace has been listed with $3 million plus hopes.
Located at <a href="https://www.realestate.com.au/property-house-nsw-newtown-125790158" target="_blank">33 Georgina Street</a>, the 321 sqm property is situated high on Newtown’s dress circle opposite Hollis Park.
Built in 1885, it was bought in 2011 by Nikki and Benje Kemp for $2.37 million.
It had previously sold in 2001 for $1.35 million, 1999 for $1.065 million and $632,000 in 1994 and in 1987 for $220,000.
The living and dining rooms are warmed by marble gas fireplaces while the chef’s kitchen has it’s own gas cooktop as well as marble and timber finishes.
<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/2017/07/10/33%20Georgina%20Street-2.jpg" alt="">
The master suite features a dressing room, balcony and spa bath while the top level has space for a bedroom, ensuite and kitchenette.
The ground level self-contained apartment has its own private entrance and study.
Other features includes a deck, sandstone courtyard and garage.
The auction is on July 29 through Urbane Property agents Prue Holcombe and Charles Bailey.
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Victorian Newtown terrace listed for $3 million plus

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A four bedroom parkside home in Sydney's inner suburb of Newtown is on the market, complete with commissioned art piece by Steven Nuttall, aka the graffiti artist Ox King, adorning the back fence.
The property, <a href="https://www.realestate.com.au/property-house-nsw-newtown-125704982" target="_blank">186 Australia Street Newtown,</a> is ideal for those wanting to live the Newtown dream and have direct access to Camperdown Rest Park and be just a few blocks to King Street.
According to the listing the property has a private, north-facing garden complete with gas-heated plunge pool fitted with swim jets and a deck with built-in seating and barbecue.
"This freestanding residence achieves the balance perfectly with a clever architectural design that flows evenly through light filled interiors to a landscaped garden haven at the rear," it said.
<img class="attachment-full size-full" src="https://static.domain.com.au/domainblog/uploads/2017/06/29204500/2_gwux40.jpg" alt="Steven Nuttall, aka the graffiti artist Ox King, is behind this work at 186 Australia Street." width="1500" height="844">Steven Nuttall, aka the graffiti artist Ox King, is behind this work at 186 Australia Street
"There are three bedrooms at the front of the house, two with built-in wardrobes. The current owners are using one of these rooms as an office-library.
"A cosy, skylit lounge room comes with a Real Flame fireplace, with a narrow single-stringer staircase leading up to the fourth bedroom in the attic.
"Flooded with natural light via two sky windows, this bedroom has a big, walk-in storage cupboard.
"The kitchen boasts a Calacatta marble-wrapped island bench with breakfast-bar seating, integrated stainless steel appliances and a gas cooktop, and it opens via a wall of bifold glass doors to the garden.
"There’s an adjoining family-dining room, a skylit bathroom with spa bath, and a second toilet with integrated laundry facilities.
"Wide ironbark floorboards have been used throughout the home, alongside Italian tiles and light fittings, impressive box windows in the front rooms and ducted airconditioning.
"Opposite the popular Australia Street Infants School, the property is also in the catchment for Newtown High School of the Performing Arts and is within easy walking distance of shops, cafes, cinemas, pubs and city transport."
The property is on the market through Charles Bailey and Diana Prineas of Urbane Property Newtown.
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Four bedroom parkside Australia Street Newtown home listed

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Having just sold her Victorian terrace for a Newtown record, singer and violinist Lara Goodridge has settled on the second most expensive home in the suburb.
Goodridge, who forms half of the chanteuse duo Baby et Lulu with Abby Dobson, has spent <a href="https://www.realestate.com.au/sold/property-house-nsw-newtown-124547066" target="_blank">$3.75 million on a Lennox Street home,</a> having sold her former Watkin Street home for $3.8 million last month.
Her new purchase is a four bedroom architecturally designed home, offering three street frontages, a private barbecue deck, grassed garden and swimming pool.
<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/2017/06/23/Lara2.jpg" alt="">
Urbane Property Newtown agent Charles Bailey and Diana Prineas sold the home.
Goodrige added a new terrace and a Tuscan-style swimming pool to the recent record breaker that she paid $1,783,000 for in 2009.
It was reported Goodridge was expected to live in a converted warehouse that she paid $1.25 million for in 2013.
 
  
<h2> </h2>
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Musician Lara Goodridge buys Newtown's second most expensive home

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Singer and violinist Lara Goodridge has sold her Victorian terrace in Newtown for a suburb record $3.8 million.
Goodridge has added a new terrace and a Tuscan-style swimming pool to the <a href="https://www.realestate.com.au/sold/property-terrace-nsw-newtown-125174618" target="_blank">three bedroom Watkin Street</a> home she paid $1,783,000 for in 2009.
<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/2017/05/24/LARA211.jpg" alt="">
It had a $3 million price guidance with Ray White Surry Hills agent Ercan Ersan, who sold the home before its scheduled auction.
The marketing suggested the home could be reconfigured to five bedrooms.
The home topped the previous suburb record set in August last year when medicos Gregory and Stefanie Fox paid $3.76 million for a four bedroom home on Warren Ball Avenue.
 
 
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jrobinson-rf4aSBido9

Singer Lara Goodridge sets Newtown suburb record

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A Newtown three bedroom terrace house was sold for $3.8 million pre-auction, making it Sydney’s most expensive weekend sale.
Located at <a href="https://www.realestate.com.au/sold/property-terrace-nsw-newtown-125174618" target="_blank">66 Watkins Street</a>, the property features an expansive family area with entertaining terrace that overlooks the swimming pool and gardens, which has established  trees, level lawn and side access.
The Carrara marble gourmet kitchen has five burner stove, an oversized oven and pantry.
There are three king bedrooms with built-in robes while the master bedroom has an iron-clad balcony.
<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/2017/05/07/66%20Watkins%20Street-2.jpg" alt="">
The main marble bathroom features a spa bath, walk-in shower and heated towel racks.
Other features includes double lock-up garage for two cars.
King Street, Erskineville Village and Hollis Park is only footsteps away with easy access to transport and the CBD.
The 1890s Newtown terrace house traded unrenovated at $1,883,000 in 2009.
The property was offered through Ray White agents Ercan Ersan and Shaun Stoker who had initial $3 million price guidance.
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Newtown terrace house sold for $3.8 million

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Former 2BL breakfast presenter, and self-confessed 'numbers nerd', Adam Spencer and his wife, Mel Mossman recently sold their Newtown terrace for $1,410,000 through Nick Moraitis of LJ Hooker.
It came with original turn of the century brick outhouse on its 145 sqm block.
The two storey terrace, that has three bedrooms and one internal bathroom, cost $590,000 in 2002, so he gained 6.4 percent annual price growth.
Since 2005 Spencer has owned a Central Coast property at Copacabana which cost $730,000.
Spencer, a father of two, has written two books, titled World Of Numbers and Big Book Of Numbers.
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Numbers right for Adam Spencer's Newtown sale

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Byronleigh, a traditional Newtown terrace has fetched $3.76 million, eclipsing the previous street record.
The circa 1880 home is part of the landmark row of historic Victorian terrace on <a href="https://www.realestate.com.au/property-house-nsw-newtown-123061306" target="_blank">Warren Ball Avenue</a>.
Complete with contemporary design, the family home has four bedrooms, two bathrooms, original marble fireplaces and a private rear courtyard.
It was sold through Ray White agents David Rees and Greg Haimandos, having previously traded for $875,000 in 2000.
The home set the street record, which has stood since 2014 when the home next door sold for $3.625 million.
There were bids from three of the seven registered parties, with bidding opening at $2.9 million.
During the campaign, more than 200 groups came through the property, with 15 contracts issued.
The successful buyer was a young family renting in Newtown.
The two-storey home is part of a landmark row of eight terraces developed by alderman George S Brock in the late 1800s Italianate boom style facade.
Newtown’s median house price is $1.28 million, according to CoreLogic. 
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Newtown Sydney terrace sale price smashes record

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The Sydney developer Ceerose has bought a mixed use site in the inner city suburb of Newtown for $6.5 million.
The 1320 sq m site, at 2c Gladstone Street, has a development application with council for a four-storey project including 12 apartments, 11 townhouses and three commercial or retail suites. 
The site was sold through Ray White Commercial NSW.
The design is by SJB Architects with three street frontages some 500m to Newtown railway station. 
The current improvements on the site comprise an older style single storey, light industrial building.
Ceerose, headed by Edward Doueihi, has projects underway in inner city suburbs including Ashfield, Leichhardt, Pyrmont, Dulwich Hill and Camperdown.
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Ceerose secures Newtown residential site

<html><body><div id="story-description">
Not many Sydney terrace houses still have the dunny out the back, but the occasionally described coolest nerd, and former 2BL breakfast presenter, Adam Spencer does.
Though the turn of the century brick outhouse is not the huge selling point as his Newtown terrace goes up for August 6 auction.
It is a double-storey terrace offering through LJ Hooker agent Nick Moraitis, who says buyer interest is at the $1.2 million to $1.3 million level.
Some 20 groups went through yesterday's open for inspection.
The three bedroom Laura Street terrace, which was bought for $590,000 in 2002, has been styled ahead of its auction.
When he was in residence, one of the walls of the modern but modest terrace were dominated by photos of happy-looking Third World children whose sight has been restored by the Fred Hollows Foundation of which he is a huge supporter. 
The cul de sac terrace with 89 sqm living space, has one internal bathroom with a laundry and second toilet at the rear of the north facing back yard on the 145 sqm block. 
Academic George Seddon once research once that the typical Australian back yard in the cities and country towns had, throughout the first half of the 20th century, a dunny near the back fence, so that the pan could be collected from the dunny lane by the dunny man.
There have been two sales above $1.3 million on the street, with another selling last month at $1.28 million, which is exactly the suburb's median house price, according to CoreLogic. 
The listing follows the lifestyle change by the self-confessed geek several years ago.
Since 2005 Spencer has owned a Central Coast property at Copacabana with wife, Melanie Mossman, having sold his 80 ha retreat at Wog Wog, near Braidwood on the Southern Tablelands in 2010.
Spencer, the father of two, grew up in Hunters Hill, the eldest of three children, in a home that had been in the family for generations. 
This article was first published in the Sunday Telegraph.
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