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

Property News

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A fully tenanted refurbished corporate office building at Nunawading in Melbourne’s eastern suburbs has been sold by Ray White Commercial for $3 million.
The two level building at <a href="https://www.realcommercial.com.au/property-offices-vic-nunawading-501113691" target="_blank">1-3 Rooks Road, Nunawading</a>, was sold to a local investor/developer by Brett Diston of Ray White Commercial Victoria on behalf of a private owner at a yield of 7.0%.
Mr Diston said the 840 sqm building is fully tenanted with Ray White Commercial and St John of God Accord holding five year leases for office tenancies on the ground floor.
“Level one is supported by three tenants who are all on three year leases and the building is currently returning net rental income of $210,000 per annum,” he said.
Mr Diston said the building had recently been refurbished with plenty of on-site parking available.
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j.ballantyne1990-6AQqhLzZaK

Nunawading office building sold for $3 million‏

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GUEST OBSERVER
The forecasts verses actuals reveal the nation outside Sydney is recording slightly weaker growth than we expected and Sydney is recording more robust growth than what we expected for this year. 
Why?
<ul>
<li>The mining downturn is having a considerable impact in a number of cities.</li>
<li>Listings remain well supplied, particularly in Brisbane, which itself has been a victim of the downturn, represented by higher than average unemployment (particuarly white collar) and manifested through high CBD offices (and residential vacancy rates).</li>
<li>The second rate cut of May 2015 was not built into our forecast. As a result Sydney has risen faster than our more optimistic expectations.  </li>
</ul>
<a href="/images/2015/09/02/Screen%20Shot%202015-09-02%20at%209.22.51%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/02/Screen%20Shot%202015-09-02%20at%209.22.51%20AM.png" alt="">
Note our forecast was for dwellings based on the ABS data. The ABS is not reporting for the June quarter until the end of September so we have decided to use the APM data on the interim. Our base case scenario became redundant once rates were cut in February and the dollar sank below $U.S 85 cents (December 2014). That put Scenario Two squarely in focus which was for more robust growth with Sydney leading the charge once again at 11-15%. We formally updated the market about this change at the end of March. By all accounts, Sydney has done more than our forecasts so far this year. The second rate cut of May ensured this with property investors entering into a frenzy that shot the average Sydney house up by an estimated $50,000 in just a few short weeks. Literally, the market ‘gapped up’. Since then I get the impression the market is still testing those highs and is struggling to move much further. This is illustrated by lower auction clearance rates recorded in the past 8 weeks then the preceding period. Going forward, clearance rates will fall in Spring (as they always seasonally do). Most likely they will fall to the mid 60s. If they so happen to fall below 60% then something more negative is going on. Otherwise it will be just a very normal Sydney market. While we believed Perth was at a higher risk of a correction, we still believed the probabilities were that Perth would largely flatline on the basis that rate cuts would provide a soft landing. The rate cuts have provided a soft landing of sorts, but not to the point of stopping a correction. Perth dwelling prices are now falling. This is showing up in the APM numbers AND our own asking prices, which suggests vendors have lowered their asking prices on average by 4% over the past 12 months. While downplaying other bullish forecasts for Brisbane in 2014, we did lift our forecasts for 2015. However Brisbane is proving to be largely flat-lining this year as well. The reality is underlying demand in Brisbane remains sluggish and investor related demand also soft. The total housing finance approvals chart for Queensland illustrates this story. Yes there has been a little pick since the downturn of 2010-2012 however this year housing finance approvals have been flat.
<a href="/images/2015/09/02/27fe3292-d0ce-4db3-a78a-e4917ca42a9c.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/02/27fe3292-d0ce-4db3-a78a-e4917ca42a9c.png" alt="">
The end result is still more sellers than buyers in the market and this can be clearly seen on our stock on market index for the city. Until such time as there is a definite trend of declining stock, it is hard to see how Brisbane is going to record any substantial rise in prices, let alone a new property boom.  It is a similar story for Adelaide and Hobart, however we still remain more bullish on Hobart and think activity is increasing<a href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=ba8e44005c&amp;e=0aab96dc54" target="_blank"></a>. Nevertheless outside Sydney and Melbourne, it is indeed a patchy market. This present climate comes with investor credit lending now slowing, potentially as a result of APRA’s actions. APRA has very recently stated it is now going to take a wait-and-see approach to the market. As APRA has now flexed its muscles and proved itself to be a key influencer on the housing market, it is interesting to note APRA’s current view of the world as presented last week, by the organisation’s chairman.   In short:
<ul>
<li>APRA believe that that housing portfolio risk profiles might have increased, and underwriting standards have “softened”, over time.</li>
<li>They believe house prices are “high” in areas outside Sydney and Melbourne.</li>
<li>They are largely leaving up to the Approved Deposit Institutions (Banks etc) to determine how best to meet APRA’s 10% investor lending annualised growth rate threshold should be applied.</li>
<li>They have left the door open to policies focussed on specific cities but for now will not employ such policies.</li>
</ul>
Perhaps the best way to gauge whether they will take further action down the track is by watching Investor housing credit which is published by the RBA. The latest result came out yesterday, which recorded a 0.6% increase in this measure. This was welcome news as the month result is below the annualised threshold of 10% growth set by APRA with some pundits claiming this is evidence of the APRA initiatives now working. One way, or the other, it appears APRA are intent on keeping investor credit growth below their stated 10% threshold. Given that it has been investors that have predominantly driven the housing market upward since 2012 there are ramifications for this policy. And that is slower housing price growth at the national level for next year. The magnitude of which we will explore in our 2015/2016 Housing Boom and Bust report, which is due to be released again later in September. On the interim, we will shortly be releasing a GOLD Coast outlook report including an assessment rating. That should be out on our website in time for next week’s newsletter. Needless to say, we have become rather bullish on the<a href="https://sqmresearch.us5.list-manage2.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=8decbe51c1&amp;e=0aab96dc54" target="_blank"> </a>Coast.
Louis Christopher is property analyst for SQM Research. He can be contacted <a href="https://www.sqmresearch.com.au/" target="_blank">here</a>. 
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louischristopher-TWpYcZDLBK

How do we fare compared to last year’s Housing Boom and Bust report? SQM's Louis Christopher

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A historic family mansion at Fulham has been sold for $2.5 million.
The property was offered for sale for the first time since it was built 135 years ago. 
The mid-Victorian sandstone villa at <a href="https://www.realestate.com.au/property-house-sa-fulham-116598235" target="_blank">12-14 Weetunga Street, Adelaide</a> and an adjoining dwelling, were sold through Ray White Henley Beach.
<img src="/images/2015/09/01/1508132012-1420Weetunga20St20Living20Room.jpg" alt="" width="864" height="576">
The buyer plans to extend the 5113sqm home and open it to the public for functions and tours.
“The sellers are delighted that this historic, state heritage home, which was built by Samuel White, will continue to be treasured”, said Ray White's Patrick O’Flaherty.
Over three generations of the White family have lived in the home, which took three years to build.
The property included a six bedroom villa with three bathrooms, and a detached museum with attached storage and greenhouse. 
There is also the three-bedroom mid-1980s built home on the site adjoining the original villa.
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jchancellor-FAypfDUnLy

Historic Fulham mansion sells for $2.5 million

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A Victorian Norwood home built in 1858 has been listed with $1.4 million hopes.
The <a href="https://www.realestate.com.au/property-house-sa-norwood-119911257" target="_blank" style="line-height: 1.3em;">105 William Street</a> two-storey converted hotel is constructed of Bluestone and has a total land size of 690 square metres.
The property is currently being used as an eight-bedroom residence, with four living areas, study and dining. There are also three kitchens and three bathrooms.
The hotel was converted into a residence in 1909 and consists of 18 rooms, with a total living area of 360 square metres.
The home re-embraces its South Australian colonial heritage with fireplaces with cedar surrounds, polished floorboards, colonial windows and a interior Baltic and cedar spiral staircase.
The home is listed through Robert Maiolo from MyHouse Real Estate Manningham.
 
 
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1858 Norwood converted hotel listed

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A private valley-feel Wollombi home has been listed for sale.
The <a href="https://www.realestateview.com.au/Real-Estate/183-rocky-creek-road-wollombi/Property-Details-buy-residential-9236258" target="_blank">183 Rocky Creek Road</a> 10 hectare property has been listed for around $900,000.
The rural property was last traded unfinished 11 years ago, when Australian Financial Review Magazine deputy editor Marguerite Winter and AFR foreign editor Derry Hogue bought the 300 square metre residence.
The property was on the market for two years prior to that. 
The couple completed the four-bedroom home with a mixture of stone, slab and hardwood, and main room with large stone fireplace. 
The property has a north-east aspect.
The property is being privately negotiated by Garry Musgrove from Ray White Cessnock.
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Wollombi home lists with sub $1 million hopes

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AMP Capital has purchased Stud Park Shopping Centre in Victoria for $154 million on behalf of the Wholesale Australian Property Fund.
The 26,000sqm Stud Park Shopping Centre on <a href="https://www.realcommercial.com.au/property-retail-vic-rowville-501612169" target="_blank">11 hectares of land in Rowville</a>, approximately 30km south east of Melbourne’s CBD, has 58 specialty tenants as well as majors Coles, Woolworths and Kmart.
Wholesale Australian Property Fund Manager Chris Davitt said he expects the solid performance of the centre to continue and take advantage of the higher incomes in the trade area, which are 12% above the Melbourne average.
</div>
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jonathanchancellor-7SQnKwU6yx

AMP Capital acquires Stud Park Shopping Centre

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<div>
GUEST OBSERVER
We’ve seen a spate of stories and articles recently about how foreign investment is unlikely to slow down. 
There’s been much print around the unabated interest of Chinese investors in Sydney. 
We’ve also read about the eagerness of foreign investors to find building opportunities in Melbourne. There are now predictions that Perth will have another housing boom off the back of foreign investment. So across most of Australia, the enthusiasm for property from overseas buyers is still aflame.
This is partly to do with current world factors – the easing off of capital controls in China; the freeing up of other markets like India and a rapidly growing middle class in various parts of Asia. But this only tells part of the story.
The restrictions brought in by APRA earlier this year and then passed on by the main mortgage lenders were aimed to curb the rising tide of investment. However these measures have plainly had little effect.
Australia is now firmly in the sights of foreign investors and it’s highly unlikely that this will change. Here are some reasons why:
1) Growth of apartments in capital cities: The Asian investors, especially, are very attracted to apartments as an investment. It’s a commodity they understand well as it’s the mainstay of most major Asian cities. Melbourne has been going through a frenzy of apartment building over the last few years and this doesn’t show any sign of slowing down. With Melbourne predicted to outstrip Sydney in terms of population in the next fifty years, buying an investment property in the city is a pretty safe bet. Sydney also has seen an expansion of apartments into traditional suburban areas such as the North Shore and Sutherland Shire. 
2) Sydney and Melbourne now truly global cities: For many years Australia was in a little bubble and something of a secret tucked away from the world. Most of the investment was European and British. It wasn’t roughly until the 1990s and the determined push to make Australia’s major cities international and cosmopolitan that it really turned up on the radar of overseas investors. Certainly events like the 2000 Sydney Olympics helped promote the country. With major financial headquarters in Sydney and Melbourne, both cities offer an easy and accessible base for the foreign investor.
3) It’s the lifestyle: Australia has an extremely friendly environment compared to other countries. It’s worth noting that much of the foreign investment has been aimed at the eastern seaboard: Sydney, Melbourne, the Gold Coast and other parts of Queensland. The weather, beaches, excellent health care and a small population make it a honey pot for Asian investment. International agency CBRE reports that of the total foreign investment into Australia in the lat few years, two thirds of it is from Asia. This is highly significant as Australia’s lifestyle and environment compares very favourably to most Asian countries and is unlikely to change.
4) Economic advantages: When Australia survived the GFC in 2008, its strong and stable economy meant that it was very attractive proposition to foreign investors. The government’s tax breaks for property investment make it even more so. Other cities like London and Hong Kong have clamped down heavily on overseas investment, making Australia, with its relaxed foreign investment rules, a prime target.
Will this hurt local property investment?
It’s actually unlikely that foreign investment will damage local property investment. While it adds a bit more competition it also boosts the building and architecture industries. It creates jobs and energises the economy. It drives up property prices, but this simply means that capital growth on all investments move upwards. So all investors benefit from the upsurge. It’s also worth remembering that foreign investors are often playing in a different pool. Mum and dad or first time investors may typically go for cheaper investments in the outer suburbs, as a way of cautiously dipping their toes in the water. 
Foreign investors (Asian investors especially) tend to zone in on specific areas and types of dwellings. So while there’s been much alarm sounding and panicking about the effect of foreign investment, there really doesn’t need to be. If anything it confirms the desirability of Australia as a property investment option. And as long as the local investors ensure they have sought out information and a comprehensive service from a property professional they’ll be in a strong position.
SAM KHALIL is founder and director of <a href="https://www.dpn.com.au/" target="_blank">Direct Property Network</a>.
Direct Property Network (DPN) provides clients with an end to end property investment solution from selecting the right property through to settlement and beyond.
 
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SamKhalil-UNoWQ73CmG

Foreign investment and why Australia is attractive: DPN's Sam Khalil

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GUEST OBSERVER
The ANZ Stateometer, released today, shows NSW and Victoria continue to improve solidly, with NSW extending its lead. 
The other states remain firmly below trend and so Q2 y/y GDP growth, when released tomorrow, is expected to have remained soft. 
The mining states appear to have arrested the slowing in activity for now, while SA has fallen further behind. 
Tasmania is at risk of losing steam, while the ACT was the biggest improver. 
NSW AND VICTORIA LEAD THE REBALANCING OF THE ECONOMY 
The inaugural ANZ Stateometer, a new indicator of economic activity for Australia’s states and territories, highlights the outperformance of NSW, but also a pick-up in economic momentum in Victoria. 
The upturn in activity for NSW and Victoria (which together account for more than half of Australia’s GDP) has been an important part of the rebalancing in activity as resources investment turned down. Given their strong inter-linkages with the rest of the country, NSW and Victoria’s performances bode well for an ongoing, albeit slow, recovery. 
But the below-trend performance of the bottom five states and territories affirms our expectation that tomorrow’s national accounts will show GDP growth remained soft in the June quarter. 
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THE ANZ STATEOMETER READINGS: 
Economic activity in NSW and Victoria was growing faster than long-run average rates over the year to the June quarter and accelerating. 
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Apart from Tasmania, which has recently fluctuated around its trend rate, growth in the remaining jurisdictions was firmly below average. 
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Queensland’s growth was below trend and momentum slowed slightly in the year to the June quarter. 
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WA and SA are furthest from average growth rates and growth slowed in SA in Q2 in year-ended terms. We see the slight quarterly pick-up in WA’s growth momentum as a momentary stabilisation in economic activity before further weakness occurs. We hold the same view for the NT.
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The ACT played catch-up in Q2 with a strong increase in economic momentum, but it remains well below its trend rate of growth. 
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<div class="column">NSW EXTENDING ITS LEAD ON THE REST OF THE COUNTRY</div>
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 Residential investment, labour market conditions, business conditions, and pockets of commercial property have been relatively strong in both NSW and Victoria, but the former has outperformed according to the ANZ Stateometer.
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 Tasmania and Queensland share some of these strong states’ characteristics; they have solid housing and private consumption, and are also benefiting from the depreciating Australian dollar. We expect their below-trend, lower momentum position on the ANZ Stateometer will change as these drivers lead to recovery rather than further deterioration.
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 Economic activity in WA and SA are firmly on a downward trend. For WA it is the ongoing falls in resources investment, while SA is dealing with a broader malaise in its industrial sector. All other states and territories have shown some pick-up in economic activity over the first half of the year.
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 The NT has also seen a substantial contraction in economic activity from a decline in business investment, and growth remains well below its trend rate. The recent pick- up in its reading on the ANZ Stateometer has been narrowly based, so we do not expect it to be long-lived.
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 The ANZ Stateometer also shows the ACT economy has been growing well below its trend rate since late 2011, largely due to Commonwealth budget consolidation. The index deteriorated precipitously over 2014 off the back of a consolidating labour market and its impact on consumption. The index has improved sharply recently. 
 
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Kirk Zammit is economist, ANZ and Cherelle Murphy is co-head of Australian Economics, ANZ. They can be contacted <a href="https://bluenotes.anz.com/authors/our-economists/" target="_blank">here</a>.
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mick.cee-iDmgDDAmu8

Big states pull away from the pack: ANZ Stateometer

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GUEST OBSERVER
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<div class="column">In terms of home prices, it is Sydney first, daylight second. In August, Sydney prices rose by 1.1% while next-placed Adelaide saw prices rise by 0.7%. And in the majority of capital cities prices were flat or falling in the month. Over the year Sydney prices were up 17.6%. Next-placed Melbourne had prices up 10.6% on the year. But in three capital cities, home prices are below year ago levels. And home prices in regional Australia were up just 2.3% over the year.</div>
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 Sydney home prices will slow over the year as more homes are built. Already gross yields on homes are recording the slowest growth rates on record in Sydney and Melbourne. And rents are growing at the slowest annual rates on record.
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 If you are a tenant, it is good times. If you are a property seller in Sydney, times are still good. If you are a home buyer in Sydney, there are challenges, with prices still lifting strongly. If you are a home buyer outside Sydney or Melbourne, conditions are favourable. Clearly there is no such thing as a single housing “market”.
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 More good news on the economy – consumers are still happy and the manufacturing sector is expanding. Yet more reason for the Reserve Bank to be pleased at the evolving situation.
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<div class="column">What do the figures show?</div>
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<div class="column">Home prices</div>
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The CoreLogic RP Data Hedonic Australian Home Value index of capital city home prices rose by 0.3% in August to stand 10.2 per cent higher than a year ago.
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House prices rose by 0.3% in August while apartments rose by 0.8%. House prices were up 10.6% on a year ago and apartments were up by 7.4%.
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The average Australian capital city house price (median price based on settled sales over quarter) was $600,000 and the average unit price was $509,900. The average Sydney house price was $900,000 – still well short of a $1 million. 
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Dwelling prices rose in just three of the eight capital cities in August: Sydney (up 1.1 per cent), Adelaide (up 0.7 per cent) and Darwin (up 0.3 per cent). Prices were flat in Melbourne and Brisbane. Prices fell in Canberra (down 1.7 per cent), Perth (down 1.3 per cent) and Hobart (down 1.1 per cent).
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 Home prices were higher than a year ago in five of the eight capital cities. Prices rose most in Sydney (up 17.6 per cent), followed by Melbourne (up 10.6 per cent), Brisbane (up 3.9 per cent), Adelaide (up 1.8 per cent), and Hobart (up 1.5 per cent). Price fell in Darwin (down 4.6 per cent), Perth (down 1.8 per cent) and Canberra (down 0.9 per cent).
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 Total returns on capital city dwellings in the year to August rose by 14.4 per cent with houses up 14.7 per cent on a year earlier and units up 12.3 per cent.
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RP Data report: “While the August results indicate a slowdown in the rate of appreciation in dwelling values, the quarterly figures highlight just how strong the housing market has been over the past three months; combined capital city dwelling values are 5.3 per cent higher over the three months to the end of August this year.”
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 “Growth in weekly rental rates shifted to a new record low for annual growth over the month of August. Across the combined capital cities, the median weekly rental rate rose by just 0.7 per cent over the past twelve months, with house rents up 0.5 per cent and unit rents up a higher 1.6 per cent.
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 Since May 2013, dwelling values have risen at a faster pace than weekly rents. “The result of the disparity between dwelling values and dwelling rents has been a consistent downwards trend in gross rental yields. Gross yields are at record lows in both Sydney and Melbourne. A typical dwelling is attracting a gross yield of just 3.3 per cent and 3.1 per cent respectively across Australia’s two largest cities.”
Performance of Manufacturing
The Performance of Manufacturing index rose by 1.3 points to 51.7 in August. A reading above 50.0 indicates that the sector is expanding. The survey is volatile from month to month and is not providing accurate guidance on economic conditions. Orders, employment, capacity use and input prices rose in August but production, exports, sales, selling prices and wages fell.
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Consumer sentiment The weekly ANZ/Roy Morgan consumer confidence rating rose by 0.3 per cent 113.3 in the week to August 30. Confidence is up 0.6 per cent over the year and still up on the average of 111.5 since 2014.
Three of the five components of the index rose in the latest week:
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The estimate of family finances compared with a year ago was down from +11 to +10; The estimate of family finances over the next year was up from +22 to +27;
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Economic conditions over the next 12 months was down from -6 to -11;
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Economic conditions over the next 5 years was up from +7 to +9;
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The measure of whether it was a good time to buy a major household item was up from +31 to +32 points. What is the importance of the economic data?
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The CoreLogic RP Data Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic- RP Data Hedonic Index includes all properties. Home prices are an important driver of wealth and spending. 
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The Australian Industry Group and PricewaterhouseCoopers compile the Performance of Manufacturing Index (PMI) each month. The Australian PMI is the Australian equivalent of the US ISM manufacturing gauge. The PMI is one of the timeliest economic indicators released in Australia. The PMI is useful not just in showing how the manufacturing sector is performing but in providing some sense about where it is heading. The key ‘forward looking’ components are orders and employment.
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The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank. 
What are the implications for interest rates and investors? 
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The Reserve Bank won’t be lifting or cutting interest rates any time soon. The strong gains in Sydney home prices aren’t influencing policy decisions – there is just no fundamental reason to change interest rate settings at present. 
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<div class="column">Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.</div>
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cjames-5S2v74qSNK

For home prices it is Sydney first, daylight second: Craig James

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Capital city dwelling values continued to rise through August although at a slower rate then previously, according to the CoreLogic RP Data Hedonic Home Value Index for August 2105.
The report found Sydney had the highest monthly movement, with dwelling values in August 1.1% higher. Adelaide is up (0.7%) and Darwin (0.3%), with Melbourne and Brisbane stable.
According to CoreLogic RP Data head of research, Tim Lawless, dwelling values across Melbourne were 8.0% higher over the rolling quarter, and Sydney values were up 7.4%.
"Both cities have seen dwelling values trend substantially higher than other capitals, where the third highest growth rate over the three month period was Brisbane, which showed an increase in values of 2.2%," he said. 
"The three largest capital cities, together with Hobart, have all recorded growth in dwelling values over the past three months, half the nation’s capital cities have recorded a fall in values. Darwin recorded the most substantial decline in values with a fall of 3.2% over the three month period, while Perth values were down by 1.5%, Canberra values were 0.8% lower and Adelaide values are slightly lower, at 0.1%.
"While the August results indicate a slowdown in the rate of appreciation in dwelling values, the quarterly figures highlight just how strong the housing market has been over the past three months; combined capital city dwelling values are 5.3% higher over the three months to the end of August this year."
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