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 International Monetary Fund (IMF) started a global house price index last year. 
They recently released a set of charts detailing their findings on world housing prices.
They continue to track house prices around the world. Their chart with annual percent change is based at Q2, 2014. It puts Australia fourth highest given a 7.4% gain.
Click to open in new windows: 
<a href="/news"> </a><a href="https://www.imf.org/external/research/housing/images/globalhousepriceindex_lg.jpg" target="_blank"><img src="https://www.imf.org/external/research/housing/images/globalhousepriceindex_600px.jpg" alt="chart of house price index"></a><a href="https://www.imf.org/external/research/housing/images/housepricesaroundtheworld_lg.jpg" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.1599998474121px; line-height: 1.3em;"><img src="https://www.imf.org/external/research/housing/images/housepricesaroundtheworld_600px.jpg" alt="chart of house prices around the world"></a>
Credit growth Around the world:
<div>
<a href="/news"> </a><center><a href="https://www.imf.org/external/research/housing/images/creditgrowth_lg.jpg" target="_blank"><img src="https://www.imf.org/external/research/housing/images/creditgrowth.jpg" alt="chart of credit growth around the world"> </a></center>
</div>
House price-to-income ratio:
<div>
<a href="/news"> </a><center><a href="https://www.imf.org/external/research/housing/images/pricetoincome_lg.jpg" target="_blank"><img src="https://www.imf.org/external/research/housing/images/pricetoincome.jpg" alt="chart of house price-to-income ratio"> </a></center>
</div>
House price to rent ratio:
<div><center><a href="https://www.imf.org/external/research/housing/images/pricetorent_lg.jpg" target="_blank"><img src="https://www.imf.org/external/research/housing/images/pricetorent.jpg" alt="chart of house price-to-rent ratio"></a></center></div>
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jchancellor-FAypfDUnLy

Australia ranks fourth in IMF's global house price index

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Dogs don't typically feature in real estate marketing campaigns, or for that matter work when they do, but Title Tattle loves this one.
Adrian Oddi at BresicWhitney Balmain is seeking buyers for the five bedroom, four bathroom house on 236 square metres at 8 Byrnes Street, Rozelle.
<a href="https://www.bresicwhitney.com.au/buy/8-byrnes-street-rozelle-10401" target="_blank">The price guide is over $2.5 million</a>, whippet not included. The dog's name is Jasper. He's apparently extremely timid but loved the camera at the photo-shoot!
Buyers get a sleek free-standing home, with modern finishes, multiple living spaces and a pool deck turn this quiet retreat into the ultimate entertainer.
There is rental guidance for investors of potentially $1,800 to $2,000 per week.
The Tony McLain architect plans were approved by council in 2011 for the new home.
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Designer dog in contemporary Rozelle auction marketing: Title Tattle

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Today's tweet is for admirers of W Somerset Maugham.
The account is edited by real estate activist and pioneer, Neil Jenman who is planning a new book, How Maugham Can Change Your Life.
"Ideas, suggestions and comments welcome," <a href="https://twitter.com/W_S_Maugham" target="_blank">he advised</a>.
<a href="https://www.propertyobserver.com.au/https://twitter.com/W_S_Maugham/status/562534153321582592" target="_blank"><img src="/images/2015/02/04/tweet-feb-4-one.jpg" alt=""></a>
The twitter page comes with Jenman's Blue Mountains district home study (pictured below) lined with the works of his favourite novelist that he has been collecting since 1976.
<img src="/images/2015/02/04/maugham%20feb%204%20one.jpg" alt="">
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Tweet of the day: W Somerset Maugham joins Twitter via enthusiast Neil Jenman

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The Australian Electoral Commission released financial disclosure data for the 2013-14 financial year earlier this week, revealing that the single largest donor to the ALP was an unknown China-based person named Zichun Wang. 
Crikey can reveal that Zichun Wang appears to be the deputy general manager of Chinese property development firm Ever Bright Group, responsible for several large developments in Melbourne’s eastern suburbs.
Wang gave $850,000 to the national ALP Secretariat in two parcels that year, the largest donation to either party.
An article about the “mystery Chinese donor” in <a href="https://www.smh.com.au/federal-politics/political-news/mystery-chinese-donor-zi-chun-wang-tops-political-donations-with-850000-gift-to-labor-20150202-133ofe" target="_blank">Fairfax</a> provoked much speculation as to the identity of the generous figure, with Business Spectator <a href="https://www.businessspectator.com.au/news/2015/2/3/china/chinese-man-tops-list-australian-political-donors?utm_content=SocialFlow&amp;utm_campaign=EditorialSF&amp;utm_source=BusinessSpectator&amp;utm_medium=Twitter">discovering</a> links between Wang and Australian real estate investment.
But Crikey can reveal the man behind the money appears to be Melbourne-based Ever Bright Group’s deputy general manager.
Ever Bright Group is responsible for building a range of large property developments primarily across Melbourne and Shijiazhuang, the largest city in Hebei province. Property developers have been banned from donating to political parties in New South Wales since 2009, but there are no Victorian or federal rules against it.
It is unclear whether Ever Bright Group is state owned, though there is a Chinese state-owned conglomerate of the same name. The company’s published history on its website suggests it may be linked to the state-owned China State Construction Engineering Corporation. Careers website <a href="https://company.zhaopin.com/%E6%B2%B3%E5%8C%97%E6%B0%B8%E6%98%8C%E6%88%BF%E5%9C%B0%E4%BA%A7%E5%BC%80%E5%8F%91%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8%E4%BF%9D%E5%AE%9A%E5%88%86%E5%85%AC%E5%8F%B8_CC432198127.htm" target="_blank">Zhaopin</a> lists EBG as a private company.
The contact address given on the Australian Electoral Commission disclosure form for the donor is given as a housing block for retired Communist Party apparatchiks and bureaucrats in Shijiazhuang, as well as the Hebei Provincial Development and Reform Commission.
When Crikey called Ever Bright Group’s Melbourne office, the receptionist said Wang was currently in China, but gave the same contact email address as that supplied on the AEC return form.
The China-based phone number listed on the AEC form rings out.
The company’s website features a <a href="https://www.ebgcn.com/news1_details.aspx?nid=12021" target="_blank">news story</a> from March 2014 of Wang visiting Melbourne’s Carey Baptist Grammar school. Another <a href="https://ebgcn.com/news1_details.aspx?nid=12040">article</a> shows EBG Chairman Yuan Wan Yong meeting with Prime Minister Tony Abbott and then-Victorian premier Denis Napthine in June 2014.
Ever Bright Group’s Melbourne developments have included the controversial Stonington Mansion Estate in Malvern. The estate was previously used by Deakin University as a campus, but the university sold it to private developers in 2006 in the face of protests from Stonnington City Council and former federal treasurer Peter Costello. Ever Bright paid $30 million for it in late 2010.
The company is also responsible for the $110 million Lucia luxury apartments in South Yarra. Ever Bright’s website says the development should have been completed by late 2014.
<a href="https://www.businessspectator.com.au/news/2015/2/3/china/chinese-man-tops-list-australian-political-donors?utm_content=SocialFlow&amp;utm_campaign=EditorialSF&amp;utm_source=BusinessSpectator&amp;utm_medium=Twitter" target="_blank">As revealed by </a><a href="https://www.businessspectator.com.au/news/2015/2/3/china/chinese-man-tops-list-australian-political-donors?utm_content=SocialFlow&amp;utm_campaign=EditorialSF&amp;utm_source=BusinessSpectator&amp;utm_medium=Twitter" target="_blank">Business Spectator</a>, a search of usernames attached to Wang’s email address reveals a series of posts on forums by a Hebei-based user dating back to 2007 showing an interest in Australian property investments.
One comment stated: “Very interesting! I’m interested in investing, and will keep an eye on it!”
This article first appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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po-LsXgBTHBmX

Meet the mysterious Chinese property developer giving a motza to the ALP

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A Sydney CBD car space has been listed at $330,000.
It is in the basement of an apartment complex on the corner of Bond and George streets.
The price tag by vendor Terence Chua reflects a slightly longer space than usual, being able to fit two car tandem parking.
It is in the Mantra <a href="https://www.findacarpark.com.au/dsp_property.cfm?pid=3F496D1B-CA9D-21C8-4BD503D8C97FE2E7" target="_blank">2 Bond Street serviced apartment hotel building</a>. 
It was noted by <a href="/news/how-much-is-a-car-space-worth">Property Observer as for sale last October</a>.
The car park listing portal findacarpark.com.au has suggested Sydney car space have sold for $250,000, though the average price for a Sydney parking space has recently been $73,000.
The car space cost $55,000 in 1999.
Parking space owners who lease their spots out receive between $400 and $800 a month in rent, on average, with average rents on Bondi spaces the highest in the city at $897, followed by the CBD at $685. Many Sydney CBD car spaces are attached by strata to an apartment, making those available to be purchased on separate title a limited market.
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Sydney's priciest CBD car space offering remains for sale

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Photography is crucial for property marketing. Aerial photos have become the norm for the marketing of the most prized residential possessions in Australia.
Tim Mooney has been a professional photographer for 37 years since borrowing his grandfather's camera in 1969 to take photos of Neil Armstrong's lunar walk from the television.
His aerial photographic skills were developed in the early '80s and since then he has photographed around the world.
He is always heading skyward again, especially over Sydney Harbour unlocking the aerial aspect of properties along the coast from Cronulla to Palm Beach, and as far inland as Homebush. His photo library extends <a href="https://www.sydney-aerial-photographer-library.com" target="_blank">up and down the NSW coast</a>.
"The best time to photograph a Sydney golf course is in the lower light of the morning or afternoon," he said.
Here we see the late afternoon shadows on a perfectly groomed <a href="https://www.australiangolfclub.com/welcome/index.mhtml" target="_blank" title="The Australian">Australian Golf Club</a>, Kensington, Sydney, Australia.
"Long shadows add an immense amount of drama to an image," said Mooney.
"They give buildings and people relative dimension.
"The very high resolution camera used lets me zoom right into the two golfers on the putting green."
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Tim Mooney unlocks the aerial photogenic aspect of homes

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A vacant plot in Noosa sold for $1.8 million last week.
The result places it second in the week’s top 10 most expensive sales, according to CoreLogic RP Data.
<a href="https://www.realestate.com.au/property-residential+land-qld-noosa+heads-201053443" target="_blank">3 Natasha Avenue, Noosa Heads site</a> sold as a deceased estate at auction after 23 years of ownership.
The week’s prestige property sales were yet again relatively subdued, presumably due to low sales volumes. The most expensive property selling for $2.32 million and the top 10 bottoming out at $1.51 million.
CoreLogic’s top 10 sales of the week ending 26 January:
<a href="https://www.realestate.com.au/property-house-nsw-marsfield-118192399" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="">24 Dora Street, Marsfield, NSW</a>
<img src="/images/2015/01/27/1.jpg" alt="">
This five bedroom, three bathroom house sold for $2.32 million through NNW Property last week. In its listing, the house is described as having “luxurious European styling”, which in this case refers to its marble flooring throughout the lower level, chandeliers and European kitchen appliances. The 431 square metre home sits on a 600.7 square metre block.
In 2011, the vendors paid $800,800 for the property in 2011, which they knocked down and rebuilt after using it as an investment property. The former home on the site was advertised to rent at $670 per week, representing a yield of 4.3%.
<a href="https://www.realestate.com.au/property-house-qld-noosa+heads-118687963" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt=""></a><a href="https://www.realestate.com.au/property-residential+land-qld-noosa+heads-201053443" target="_blank">3 Natasha Avenue, Noosa Heads</a>
<img src="/images/2015/01/27/noosa.jpg" alt="">
The vacant plot in Noosa sold for $1.8 million through Laguna Real Estate.
The elevated 932 square metre triangular site has a northerly aspect and overlooks Laguna Bay and Noosa River.
<a href="https://www.realestate.com.au/property-house-nsw-alexandria-118205343"><img src="/images/2014/07/04/yellow-three.jpg" alt="">1B Power Avenue, Alexandria, NSW</a>
<img src="/images/2015/01/27/3.jpg" alt="">
Buyers paid $1.76 for this three bedroom unit, sold at auction through BresicWhitney Real Estate Agents Glebe. The contemporary terrace has two courtyards, with a dual aspect and double height glass capturing daylight.
The vendors used 1B Power Avenue as an investment property, last advertising it to rent in March last year at $1,290 per week. At its sale price, that represents a yield of 3.8%.
<a href="https://www.realestateview.com.au/Real-Estate/8-eden-close-dudley/Property-Details-buy-residential-7909218" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="">8 Eden Close, Dudley, NSW</a>
<img src="/images/2015/01/27/4.jpg" alt="">
A four-bedroom modernist house sold for $1.7 million through PRD Nationwide Newcastle, after 53 years of ownership. The house, offered for the first time since 1962, has an elevated position which offers views of the Newcastle coastline.
It includes a saltwater pool and many features of organic modernist architecture, including exposed timber and numerous full height windows to capture the surrounding environment.
<a href="https://www.realestate.com.au/property-house-nsw-glebe-117952627" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="">35 Talfourd Street, Glebe, NSW</a>
<img src="/images/2015/01/27/5.jpg" alt=""> 
This four bedroom house sold through McGrath Estate Agents for $1.7 million. Set across three levels on a corner position, the home features polished concrete floors and plantation blinds, with bi-fold doors opening to a courtyard.
The vendors paid $1.15 million for the home in 2011, before undertaking significant renovations.
 
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-house-nsw-leichhardt-118680123" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="">34 South Avenue, Leichhardt, NSW</a>
<img src="/images/2015/01/27/6.jpg" alt="">
Buyers paid $1.66 million for this double fronted Leichhardt home, sold through Harris Partners Balmain. The freestanding house has five bedrooms and two bathrooms, sitting on a 482 square metre plot.
<a href="https://www.realestate.com.au/property-house-nsw-belrose-118545235"><img src="/images/2014/07/04/yellow-seven.jpg" alt="">11 St Andrews Close, Belrose, NSW</a>
<img src="/images/2015/01/27/7.jpg" alt="">
A five-bedroom house sold through McGrath Estate Agents for $1.6 million last week. The family home, located at the end of a cul-de-sac, has a pool, with a covered deck and gardens.
Vendors paid $440,000 for the property in May 2002.
<a href="https://www.raywhite.com/qld/broadbeach/1241099/" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="">42/173 Old Burleigh Road, Broadbeach, QLD</a>
<img src="/images/2015/01/27/8.jpg" alt="">
The only apartment to make this week’s top 10 list was a Broadbeach two bedder, sold for $1,575,000 through Ray White Mermaid Beach.
Vendors made a loss on the sale, having purchased it for $1.95 million in 2008.
The apartment, which shares the 17th floor of the Verve complex with just one other, has 184 square metres of floorspace. Nearly every room offers ocean views, with a full length balcony.
<a href="https://www.realestate.com.au/property-house-nsw-beacon+hill-118222007" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="">11 Lady Penrhyn Drive, Beacon Hill, NSW</a>
<img src="/images/2015/01/27/9.jpg" alt="">
Ray White Forest Group secured the sale of this house for $1.55 million. The five-bedroom home with an elevated position is set over three levels. The ground floor has a self-contained guest suite with an en-suite, walk in robe and kitchenette.
The middle level has the master suite, another bedroom and the kitchen and dining areas, while the third level contains a further two bedrooms, a bathroom and living areas.
The vendors paid $1.03 million for the home in 2010.
<a href="https://www.realestate.com.au/property-house-wa-wembley-118802543" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="">61 Essex Street, Wembley, WA</a>
<img src="/images/2015/01/27/10.jpg" alt="">
Western Australia’s only offering to make the top 10 list this week was a $1.51 million home sold through Bexleys Real Estate. The renovated four bedroom house in Wembley has a formal living room and separate dining, with another family living area and decking outdoors for entertaining.
The property had been held for 24 years by the vendor before last week’s sale. They paid $168,000 for the home in 1990.
Amendment: This article initially misidentified the $1.8 million Noosa property as one that had been wrongly listed. The specific property has now been corrected.
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jrichardson-uRX5hFdKfN

Noosa vacant plot makes top 10 sales of the week: CoreLogic RP Data

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Apartment development group founder Harry Triguboff has raised the bar on his hopes for the sale price of Meriton to as high as A$15 billion.
But the rumoured suitors -- Country Garden, China Vanke and Greenland Holdings -- have seemingly yet to lob a serious bid.
For a long time Meriton was always spoken of as a $6 billion outfit, then a $10 billion price tag <a href="/news/meritons-harry-triguboff-says-10-billion-is-his-asking-price">was bandied about by Harry</a>.
In November, the Australian Financial Review's Street Talk column suggested an internal advice from Grant Samuel had it closer to the $12 billion based on a multiple of 10 times earnings, when recurring income was taken into account.
Meriton also revealed for the first time in its history that its net assets rose 21% to $7.4 billion last year and annual turnover jumped more than 50% to $2 billion in the past year. It jumped from 29th place on IbisWorld’s Top 500 to 11th place last year.
“I am learning about the (sale) process. To sell that type of business (Meriton) is a long process,” Triguboff told The Australian.
The wide-ranging interview with Lisa Allen saw Triguboff also note he did not sit on company boards like his peer Frank Lowy, who sat on the Reserve Bank board from 1995 to 2005.
“I am a dictator, I am not a board member,” he said.
“I can’t go on a board. I am happy to ­advise, on the other hand.”
Late last year Meriton advised it had been a record year for the apartment developer, with the company’s annual turnover rising more than 50% to A$2 billion, bringing it to 11th place in IBISWorld's 2014 Top 500 Companies, up from 29th spot the previous year.
The company’s net assets leapt from A$6.1 billion in 2013 to A$7.4 billion, a 21% increase. 
The HIA-Colorbond steel Housing 100 named Meriton as Australia’s largest residential home builder, up more than 5,000 housing starts, from 2,573 in FY2013-14 to 7,929.
Based on this figure, new homes by Meriton accounted for around 10% of all multi-unit dwellings commenced in Australia, and 29.5% of all multi-unit dwellings commenced in New South Wales. Meriton projects equated to approximately 0.05% of Australia’s GDP.
The company reported a 33% increase in visits to its sales website, www.meriton.com.au with the most popular searches in 2014, Parramatta, Mascot, Ryde, Zetland and Brisbane CBD.
In 2013 it was Parramatta, Ryde, Chiswick, Lewisham and Brisbane. 
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Harry Triguboff's hopes hit $15 billion for Meriton

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A rate cut next month might not, well, cut it.
<a href="https://www.propertyobserver.com.au/https://twitter.com/EconoGarry/status/557985374157291520" target="_blank"><img src="/images/2015/01/22/tweet-jan-22-one.jpg" alt=""></a>
Economics writer Garry Shilson-Josling thinks the Reserve Bank of Australia should have dropped the overnight cash rate below its record low of 2.5% early last year.
Several economists anticipate that the Reserve Bank will drop interest rates at its February meeting, including <a href="/expert-insights/finance/westpacs-bill-evans-still-expects-february-and-march-rba-rate-cuts">Westpac's chief economist Bill Evans</a>.
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Tweet of the day: Too little, too late from the RBA

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Maybe it's those bloody power lines. Property investor Richard Moseley’s Bonnie Doon holiday shack near Lake Eildon in Victoria – which featured in the 1997 comedy The Castle as the serene holiday home of the Kerrigan family – has had its recent asking price lowered in the new year.
<a href="/expert-insights/buying/the-kerrigans-the-castle-bonnie-doon-holiday-shack-back-for-sale">It was listed last November at $240,000</a>, but now comes with a $225,000 asking price.
Moseley proudly secured the property for $169,950 in 2006 but then first wanted out, unsuccessfully, in 2011.
The two-bedroom cottage – located 165 kilometres from Melbourne <a href="https://www.realestateview.com.au/Real-Estate/3491-maintongoon-road-bonnie-doon/Property-Details-buy-residential-7906790" target="_blank">at 3491 Maintongoon Road</a> – was listed then at $195,000. After no doubt being told that he was "dreamin", the asking price eased to $169,950.
John Canavan First National agent Ryan Daykin is the latest agent told he's dreamin on ambitious asking prices.
Moseley, a Sydney telecommunications technician, bought it sight unseen – other than of course having viewed the iconic movie.
Until recently it has been a popular rental on the back of featuring as the original holiday home of the Kerrigans in the classic Australian comedy. The home consists of two bedrooms, open plan kitchen, dining and living area, bathroom and laundry.
It is situated on a good-sized block opposite the lake and approximately 500 metres from the boat ramp.
Actor Michael Caton headed the cast including Sophie Lee as his daughter Tracy, Eric Bana as son-in-law Con and Bud Tingwell as Lawrence Hammill, the QC who helped them save their cherished home under the flight path.
The cast only spent one day there - with the entire film shot in just 11 days.
Buyers are advised to bring their own modern mozzie zapper.
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