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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The preliminary auction clearance rate for the week ending August 30 was 75.4% from a reported 2,583 auctions across all capital cities, according to CoreLogic RP Data.
Last week the preliminary clearance rate was 72.9%
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Preliminary capital city clearance rate at 75.4% CoreLogic RP Data

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Retail property giants, Westfield Corporation and Scentre Group, were among the last companies to report their results in August, along with Lend Lease, Charter Hall Group and several smaller property companies. 
Westfield Corporation and Scentre Group, which each reported half-year results to June 30, 2015, hit their funds from operations forecasts and said they were in line to meet their full-year targets. 
Development works are expected to drive profits for Westfield Corporation, which owns and operates Westfield shopping centres in Europe and the USA. It plans to start $2.5bn worth of projects in the coming year with $1.6bn of redevelopments already started in the first half of 2015. 
Scentre Group, owner-operator of the Australian Westfield shopping centre assets, is also spending up on redevelopment with $825 million of works announced. Some of the costs will be covered using proceeds from the sale of four smaller shopping centres that did not fit with the group’s long-term strategy. 
Several listed property companies have noted the high prices that quality commercial assets are commanding.
“We expect quality Australian property to remain attractive to both domestic and off shore investors given the high Australian property yield spread to bond yields and that the cost of debt remains near record lows,” Charter Hall Group joint chief executive David Harrison said in announcing the fund manager’s results. 
Charter Hall Group delivered a statutory after-tax profit of $117.9 million, up 43.6%. Its operating earnings were $98.8 million, up 21.7%. 
Cromwell Property Group, which owns offices and operates property funds, said market conditions had lead it to be a net seller of assets.
“We believe some of the current sales activity represents peak of the cycle pricing for prime office assets, notably in Sydney and Melbourne,” Cromwell chief executive Paul Weightman said.
Cromwell reported statutory profit of $148.8 million, down from $182.5 million in 2014. It delivered operating earnings per security of 8.35 cents per share and distributions per security of 7.86 cents, up 3% on the previous year and in line with guidance. 
While asset prices were up, trading conditions in commercial property have been mixed.
National Storage REIT, which owns and operates self-storage centres, said weak business and consumer confidence and high levels of discounting among its competitors had created variable trading conditions for its business. 
The REIT, which listed at the end of 2013 and was admitted into the S&amp;P/ASX 200 in June 2015, reported an after-tax profit of $48.7 million and underlying earnings of 8.2 cents per security in line with guidance. 
Residential property markets are also variable across the country. 
Lend Lease, like other major residential developers, reported revenue from its residential division was up dramatically. The group reported $5.2 billion in pre-sales revenue for the year, more than double the prior year’s result. 
Sunland Group reported improving consumer sentiment in Sydney, Melbourne and south-east Queensland drove development margins higher and helped it deliver an after-tax profit of $30.1 million, 111% up on its 2014 result. 
Peet Limited reported a statutory profit of $38.5 million, up 27% on the previous year’s result as lower sales at its developments in Western Australia and the Northern Territory were partly offset by the strong performance of its projects in Victoria.
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Big property companies reporting strongly: Zoe Fielding

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Another fascinating week with Australia experiencing a significant stock market correction followed by the National Reform Summit which in all probability won’t amount to anything given the responsibility rests with our politicians. When it comes to anything economic in Australia we see a typical allergy where they are too frightened to come into contact with these issues.
Since 2013, the internet population grew approximately 20% – from 2.4 billion to 3.2 billion people yet for some strange reason we still struggle to understand data, or is it that the data we should be seeing is withheld? Australia’s misunderstood property markets are a prime example – with Sydney well ahead of the country in terms of inaccuracy in reporting.
One of the main areas for concern to come from the National Reform Summit was productivity where many believe Australia has come to a grinding halt which is replicated with our present GDP growth rates. For some time now I have been carefully watching property growth rates which (wait for it) closely resemble our GDP results.
To further explain we closely looked at sales data from 2009 to 2014 for house and apartment sales in Seaforth, Mosman, Cremorne, Neutral Bay, Cammeray and Northbridge where the total number of households equates to 39,227.Source CoreLogic RP Data.
We need to bear in mind that when you closely examine individual suburb markets at five (5) per cent turnover per annum the market turnover is normal and slightly under-performing. When it gets to ten (10) % per annum turnover the market is considered strong and when the market hits fifteen (15) % turnover per annum that is a boom. The last time we witnessed the market hitting 15% was in 1988.
So we took the six year averages for sales and this is what we found.
<ul>
<li>Seaforth – Average number of sales from 2009 to 2014 per annum – 120 houses which equates to 5.1% of the total market on a per annum basis.</li>
<li>Seaforth – Average number of sales from 2009 to 2014 per annum – 16 apartments which equates to 4.7% of the total market on a per annum basis.</li>
<li>Mosman – Average number of sales from 2009 to 2014 per annum – 312 houses which equates to 5.3% of the total market on a per annum basis.</li>
<li>Mosman – Average number of sales from 2009 to 2014 per annum – 492 apartments which equates to 4.9% of the total market on a per annum basis.</li>
<li>Cremorne – Average number of sales from 2009 to 2014 per annum – 62 houses which equates to 4.6% of the total market on a per annum basis.</li>
<li>Cremorne – Average number of sales from 2009 to 2014 per annum – 278 apartments which equates to 5.0% of the total market on a per annum basis.</li>
<li>Neutral Bay – Average number of sales from 2009 to 2014 per annum – 55 houses which equates to 4.95% of the total market on a per annum basis.</li>
<li>Neutral Bay – Average number of sales from 2009 to 2014 per annum – 323 apartments which equates to 4.8% of the total market on a per annum basis.</li>
<li>Cammeray – Average number of sales from 2009 to 2014 per annum – 56 houses which equates to 5.6% of the total market on a per annum basis.</li>
<li>Cammeray – Average number of sales from 2009 to 2014 per annum – 147 apartments which equates to 5.5% of the total market on a per annum basis.</li>
<li>Northbridge – Average number of sales from 2009 to 2014 per annum – 88 houses which equates to 4.3% of the total market on a per annum basis.</li>
<li>Northbridge – Average number of sales from 2009 to 2014 per annum – 28 apartments which equates to 5.5% of the total market on a per annum basis.</li>
</ul>
When one takes into account that the cash rate at the beginning of 2009 was 3.25% and dropping to 2.50 at the end of 2014 we would have expected the number of properties to be rapidly increasing – which has not been the case. Moreover this reaffirms that business is not doing that well given households are not that interested in taking on more debt, which certainly resonated with a lot that was presented at the National Reform Summit. . The burning question is what is Canberra going to do about this?
<h5>Mosman Houses Sold – Total Number 5,890 Houses</h5>
2009 – 303 2010 – 325 2011 – 264 2012 – 276 2013 – 355 2014 – 350
<h5>Mosman Apartments Sold – Total Number 10,020 Apartments</h5>
2009 – 523 2010 – 453 2011 – 474 2012 – 443 2013 – 543 2014 – 514
<h5>Cremorne Houses Sold – Total Number 1,135 Houses</h5>
2009 – 71 2010 – 65 2011 – 56 2012 – 56 2013 – 66 2014 – 59
<h5>Cremorne Apartments Sold – Total Number 5,481 Apartments</h5>
2009 – 339 2010 – 302 2011 – 288 2012 – 218 2013 – 267 2014 – 255
<h5>Neutral Bay Houses Sold – Total Number 1,109 Houses</h5>
2009 – 61 2010 – 69 2011 – 51 2012 – 51 2013 – 61 2014 – 40
<h5>Neutral Bay Apartments Sold – Total Number 6,638 Apartments</h5>
2009 – 411 2010 – 362 2011 – 287 2012 – 283 2013 – 308 2014 – 286
<h5>Cammeray Houses Sold – Total Number 1,275 Houses</h5>
2009 – 58 2010 – 50 2011 – 50 2012 – 56 2013 – 64 2014 – 61
<h5>Cammeray Apartments Sold – Total Number 2,610 Apartments</h5>
2009 – 156 2010 – 194 2011 – 156 2012 – 107 2013 – 135 2014 – 137
<h5>Northbridge Houses Sold – Total Number 1,914 Houses</h5>
2009 – 88 2010 – 63 2011 – 68 2012 – 89 2013 – 102 2014 – 94
<h5>Northbridge Apartments Sold – Total Number 504 Apartments</h5>
2009 – 32 2010 – 33 2011 – 20 2012 – 23 2013 – 35 2014 – 27
<h5>Seaforth Houses Sold – Total Number 2,317 Houses</h5>
2009 – 113 2010 – 109 2011 – 113 2012 – 121 2013 – 138 2014 – 127
<h5>Seaforth Apartments Sold – Total Number 334 Apartments</h5>
2009 – 21 2010 – 11 2011 – 10 2012 – 14 2013 – 17 2014 – 26 Source – CoreLogic RP Data
<h5>MOSMAN – 2088</h5>
• Number of houses on the market this time last year – 69
• Number of houses on the market last week – 53
• Number of houses on the market this week – 65
• Number of apartments on the market this time last year – 51
• Number of apartments on the market last week – 41
• Number of apartments on the market this week – 42
<h5>CREMORNE – 2090</h5>
• Number of houses on the market this time last year – 7
• Number of houses on the market last week – 2
• Number of houses on the market this week – 4
• Number of apartments on the market this time last year – 15
• Number of apartments on the market last week – 15
• Number of apartments on the market this week – 18
<h5>NEUTRAL BAY – 2089</h5>
• Number of houses on the market this time last year – 5
• Number of houses on the market last week – 4
•Number of houses on the market this week – 2
• Number of apartments on the market this time last year– 36
• Number of apartments on the market last week – 25
• Number of apartments on the market this week – 30
 ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
 
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Data doesn’t lie when you keep misreading it: Robert Simeon

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GUEST OBSERVER
In the next couple of weeks you’ll start to see all the signs of the change of season. Like many Sydneysiders, I’m looking forward to the longer hours of sunshine and flowers blossoming.
Inevitably, and unfortunately, we’re about to see an increase in property spruikers declaring “The main selling season is here!” (2012) “The market is poised for a bumper spring!” (2013), “There’ll be a strong surge in the traditional spring selling season!” (2014).
The chart below shows why:
Average ABS House Price Index Return by Season
<div class="enlarge_hint"><a href="/images/2015/08/31/image-20150828-17468-500s53.jpg" target="_blank">Click to enlarge</a></div>
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<div class="enlarge_hint"><img src="/images/2015/08/31/image-20150828-17468-500s53.jpg" alt=""></div>
The thing is, though, it’s just a marketing gimmick.
Yes, the house price index appears to increase a lot more, on average, in Spring. But so does the sales volume. Why would people knowingly jump into the housing market at the seasonal peak?
It couldn’t just be that these property buyers don’t know that this is the annual peak. For our relative size, the number of inquiries, studies and urban policy research should mean Australians are among the most informed in the world when it comes to real estate markets.
In a 2009 research article I explore this phenomenon (available on SSRN) and show that the “Spring bounce” is an artefact of inadequate statistical modelling.
Many house price indices are limited by the availability of data, and rely on median prices to get a sense for what’s going on across the market. However, the change in the observed median sales price can have more to do with the types of properties that are selling from period to period than the actual market movement.
The underlying reality is that nicer properties sell through Spring: typically larger, well-located, ready to sell properties. And, unsurprisingly, these nicer properties tend to sell for more. Why is this the case? In many situations it is because of the education and work calendar - families relocating (resulting in buying and selling houses) will more often than not do so over the summer break. Given property settlement times, this means looking for a new house through spring.
So what advice can we take from this? For those needing to move for the very reason outlined above and braving an upcoming auction, try to avoid FOMO (“fear-of-missing-out”), for another property will come on to the market soon. If you don’t need to buy now, the data would suggest you should wait until summer when many are away on vacation, and pick up a spring-listed property that remains unsold - hopefully for a discount!
Danika Wright is Lecturer in Finance at University of Sydney and author for The Conversation. You can contact her <a href="https://theconversation.com/profiles/danika-wright-121868" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Spring selling season and other gimmicks

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The expatriate Sydney property developer Nati Stoliar has been sentenced to two years jail in the United States, after he pleaded guilty to fraud under the US Clean Air Act.
His Nevada home (below) has been sold after he was ordered to pay more than $1.4 million in restitution and to forfeit $4 million in cash in a biofuels credits fraud case.
The 64 year old Stoliar, who pleaded guilty in mid-2014 to the fraud, faced a maximum sentence of 20 years in prison.
The FBI announced earlier this month Stoliar had been sentenced to 24 months in prison along with three years of supervised release. It was for his role in an illegal scheme to generate fraudulent biodiesel credits and to export biodiesel without providing biodiesel credits to the United States. 
As a Sydney property developer Nati Stoliar owned two of the trophy homes of Sydney, Boomerang at Elizabeth Bay and Villa del Mar which he built at Point Piper.
Villa del Mare was sold by Stoliar sold in 2004 for $21.5 million, hitting the headlines earlier this year when Treasurer Joe Hockey ordered the trophy home be sold after recent Chinese purchaser ran foul of foreign investment regulations.
Stoliar's six bedroom, six bathroom US home in Henderson, Nevada was sold under order of forfeiture at $1,140,000.
Stoliar's business partner James Jariv was sentenced in federal court in Las Vegas to ten years in prison. Records show other items forfeited included a gold Bulgari chronograph and a diamond tennis bracelet.
Under the 2009 scheme, Stoliar and his co-defendants were alleged to falsely claim to import, purchase, and blend more than 4.2 million gallons of biodiesel.
They then allegedly sold the fraudulent RINs generating more than $7 million. 
It was alleged Stoliar and Jariv instructed tanker truck drivers to drive back and forth across the U.S.-Canada border.
 
The drivers would claim to be importing biodiesel into the United States and exporting feedstock to City Farm in Canada. The trips would generate paperwork purporting to show biodiesel production and importation.
Accounts were utilized in Nevada, Canada and Australia, and transactions were investigated by the U.S. EPA Criminal Investigation Division and the FBI, with assistance from the U.S. Secret Service and the Department of Homeland Security. 
Following his indictment, Stoliar’s arrest was sought by the United States.
Located in Poland, Stoliar returned to the United States to surrender for arrest.
James Jariv and Stoliar then both pleaded guilty to one count of conspiracy, one count of conspiracy to engage in money laundering, two counts of wire fraud and one count of making false statements under the Clean Air Act. 
“This was an egregious scheme to defraud fuel suppliers, the United States, and a program designed to strengthen our nation’s petroleum independence and improve our air quality” said assistant attorney general John C. Cruden for the Justice Department’s Environment and Natural Resources Division.
“We will not tolerate such fraud and will vigorously prosecute those who put their own enrichment above our nation’s interests.”
“Mr. Jariv and his co-defendant (Stoliar) defrauded the United States government of millions of dollars through this biodiesel fraud scheme,” said U.S. attorney Daniel Bogden for the District of Nevada.
This article was first published in the Sunday Telegraph.
 
 <img src="https://de0d77f3666a325745ba-d0cf96f115e5ae2109ab044c1f6b4f88.r76.cf1.rackcdn.com/2289__BUCKINGHAM_CT_Henderson_NV_89074_64419439_2_20150611102427.jpg" alt="2289 BUCKINGHAM CT Henderson, NV 89074 - MLS #: 1527135" title="2289 BUCKINGHAM CT Henderson, NV 89074 - 
MLS #: 1527135" width="800" height="523" style="font-size: 1em; line-height: 1.3em; font-family: Arial, Helvetica, sans-serif; font-weight: bold;"> 
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Sydney developer Nati Stoliar jailed in US biofuels credits fraud case

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Reporting all residential property transactions within 24 hours of contracts being exchanged to a central body is just one recommendation Curtis Associates has made in their submission to the inquiry into Home Ownership.
Curtis Associates believes exchanging contacts of buyer and seller, agreed price, improvements made to the property and its cost would help create a fairer housing market in Sydney.
Curtis Associates said that there is an obsession with the drama of auctions and their clearance rates as well a, an obsession with median prices as a measure of market performance. 
"Agents are presently free to choose what data to report, when to report it and more important, what data not to report - especially if it conveys a downbeat impression of the property market.  
"Prices paid at auction are usually higher than those negotiated in a cooler private treaty environment; the latter of which account for about 75% of all transactions per week.  
"The auction results published by APM each Saturday night/Sunday morning exclude mid week auctions and thus account for less than that 25% of all such transactions."  
"It is submitted that comparing movements in raw median prices is like comparing apples with oranges. 
"Acceptance of the practice of keeping some sales prices confidential; the most absurd illustration of which being sellers who assert confidentiality over a price paid at a public auction. 
"For someone attending such an auction, that price is not only freely available, it is often a source of entertainment culminating in applause. For someone later researching the same price remotely, the result is a silent 'Price Withheld'." 
"In the equities market, such discriminatory withholding of information would almost certainly be unlawful." 
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Reporting property transactions to a central body necessary: Curtis Associates

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326 apartments in Crown Group's Infinity in Green Square will be released for sale this Saturday from 8am.
Infinity, located at 301-303 Botany Road is worth $575 million and designed by Koichi Takada Architects.
The sales launch will be held at the company’s head office at 1 Market St Sydney this Saturday, with apartments priced from $650 000.
Construction of Infinity by Crown Group is expected to be completed in 2019.
For more information, click <a href="https://infinitybycrowngroup.com.au" target="_blank">here</a>.
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jonathanchancellor-7SQnKwU6yx

Green Square project to launch this weekend

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The intended matrimonial home of celebrity trainer Michelle Bridges and her former husband Bill Moore has been listed with non-waterfront record setting $4.5 million ambitions after its two year makeover.
It is among the Sydney's spring September inner west auction offerings.
The couple bought the sandstone home at 10 Wharf Road in Birchgrove for $2.35 million in 2011 with the renovations said to have cost as much again.
The expensive fitout comes with bespoke Statuarietto marble fireplaces.
The furniture has been styled by Coco Republic ahead of its <a href="https://www.ch.com.au/100P10126" target="_blank">scheduled Cobden &amp; Hayson September 19 auction</a>. The art has come from Artbank.
The builders only recently completed the renovation last month of the three bedroom 1870s home.
The Biggest Loser fitness trainers Michelle Bridges and Steve "Commando" Willis are set to stay in their Potts Point apartment following the birth of their first child.
It was early 2013 when the then Biggest Loser star and her husband, Bill Moore decided to split after nine years of marriage, while keeping their multimillion-dollar fitness empire intact, with Bill retaining his role as business manager.
The couple had met at Moore's Balmain gym and then renovated their Rozelle house, where Moore continues to reside.
Birchgrove's highest non-waterfront was a $4.1 million sale in 2013 on Rose Street.
This article was first published in the Daily Telegraph.
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Michelle Bridges lists Birchgrove sandstone after two year makeover

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To improve housing affordability the Property Council of Australia has suggested reform covering planning systems, infrastructure provision, and reforms to state and federal taxation arrangements in its submission to the House of Representatives Standing Committee on Economics.
#1 Zone more land for housing 
"Our capital cities need more inner city density, middle ring renewal, as well as new land releases. 
"Reforms should provide capacity within city strategies and local statutory plans to accommodate a growing population. Ensure clear citywide and local housing targets are in place, reported on and met. 
"Support planning strategies to place homes nearer to the opportunities and services within the community. Clearly acknowledge the importance of retirement living facilities, and facilitate their development." 
#2 Simpler planning, faster processes
"New developments are hampered by complex building rules and slow assessment processes that just force up base prices. 
"The cost of compliance with multiple layers of planning development legislation and regulation is now a significant component of the cost of housing. 
"These include, but are not limited to the Building Code of Australia, various state planning instruments, local council planning requirements, specific design guidelines for apartments and other targeted instruments. 
"In some instances the requirements of a single measure in one of these instruments can add $10,000 per dwelling in additional costs."
#3 Tax the production of new housing less 
"The production of housing is a highly taxed activity. Stamp duties, land taxes, GST and large development levies can make up as much as 26% of the total cost of a finished house, and up to 21% of the total cost of a finished apartment. To make housing more affordable we need to tax the production of housing less. 
"Property in Australia is taxed right throughout the supply chain, from land acquisition, to building, to market transactions, all of which are passed through to the end consumer. 
"Treasury’s own analysis highlights how damaging stamp duty is, with a 73 per cent loss of economic livelihood for every dollar taxed. 
"On that basis, we believe it is time for the Commonwealth to lead reform on the abolition of stamp duty, a reform that would act as a catalyst for stronger economic growth and activity. 
"Foreign investment provides valuable capital for new housing development and should not be the subject of punitive charges that act as a tariff on capital flows, as the government is proposing with its excessive fees for foreign investment applications. 
"The Henry Tax Review acknowledged that any changes to the tax treatment of investment properties should only be implemented after other housing supply constraints are resolved. 
"The most commonly discussed alternative to the current arrangements is to quarantine net losses to the investment property – that is, investors are still able to get deductions up to the rental income and carry forward any excess loss against future income (including capital gains). 
"Any wholesale removal of negative gearing or the CGT discount that discriminates against property would significantly harm investment, diminish rental supply and ensure that in the short to medium term, rents and property prices will increase. 
"The key to making homes more affordable is to increase the supply of new housing stock to better meet demand, and any move to restrict the current tax arrangements would be disastrous, particularly for rental supply." 
#4 Link housing and jobs 
"Strategic delivery of new road and rail links will bring more housing closer to jobs, which in turn improves people’s lives, opens up economic opportunities and deepens labour markets for business. 
"Land use planning, including that for housing, should be done in partnership with infrastructure planning and economic development policies. 
"Infrastructure provision has not kept pace with growth, particularly in our larger cities, and the result is long commute times, lack of employment opportunities within a reasonable proximity to housing development, increased pressure on services in certain areas, and a general decline in living standards for a growing proportion of the population."
"The provision of infrastructure that links housing to employment and improves the economic productivity of our cities will bring benefits not only for the economy, but to housing affordability and accessibility for more Australians."
#5 Incentivise reform 
"The Federal Government should consider kick-starting reform to bolster housing affordability by reaching a new competition agreement with the states, with incentive payments for achieving best practice planning reform. 
"Reform should recognise that comprehensive planning reform would deliver significant productivity dividends to the economy. This would in turn boost tax revenues, which can be used to fund reform incentives. 
"Take the form of a written agreement between the commonwealth and the states and territories, whereby the federal government agrees to provide incentive payments on the achievement of specific planning reform objectives and outcomes."
In the submission to the House of Representatives Standing Committee on Economics, the Property Council of Australia also said that there is opportunities for reform on matters like unlocking home equity for seniors, community housing strategy, the National Rental Affordability Scheme (NRAS), the National Disability Insurance Scheme and national data supply repository.
 
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Capital city middle ring renewal needed: Property Council

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GUEST OBSERVER
Moves by regulators and banks to curb the growth in investment lending in response to spiralling Sydney and Melbourne property prices could cool the investment market nationwide.
The decision by lenders to raise interest rates on investor loans and other changes to tighten up investment lending was penalising investors.
Changes aimed at trying to simmer the property hot spots of Sydney and Melbourne would needlessly harm investors in other parts of Australia
Not only have there been interest rate rises for investors but also changes to loan servicing calculations and Loan to Value Ratio (LVR) requirements, with the Australian Prudential Regulation Authority (APRA) encouraging the crackdown.
Our economy is in a two speed cycle with the big property price increases focussed on Sydney and Melbourne.
Regulators and lenders need to be careful with how they deal with this as they risk hindering the market in others parts of the country where real estate is not booming.
The lending landscape is changing with a mixed bag of LVR requirements which are now causing a great deal of uncertainty in the market.
Investors in places such as Brisbane and Perth are being unfairly targeted over the property boom in Sydney and Melbourne.
 
Kent Leicester is managing director of Cigna Wealth and can be contacted <a href="https://www.cignawealth.com.au" target="_blank">here</a>.
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