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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Possible underquoting activity from an agency in Sydney is under investigation, according to NSW Fair Trading Minister Matthew Mason-Cox.
Operation Balaya, an investigation specifically developed to look at real estate compliance, was launched last month. The operation included intelligence gathering to look for underquoting.
The investigation was on agencies operating in the inner-city and Haymarket area. Officers checked licences, certificates, current continuing professional development, professional indemnity insurance and current and past financial year qualified audits.
“During its inspections, NSW Fair Trading identified certain information that requires further investigation to establish whether or not representations made by a real estate agency in relation to a number of recent sales were misleading,” Mason-Cox said.
“Agents who engaged in this illegal practice could face a maximum penalty of $22,000 or depending on the severity of the breaches an agency could have its license cancelled.”
He said that underquoting is a serious offence and that Fair Trading will not tolerate it.
“Not only does it seriously compromise the integrity of the real estate market, it puts enormous financial stress on innocent homebuyers,” he said.
Fair Trading’s results from Operation Balaya will continue to focus on underquoting and they have announced that enforcement action against those found to be non-compliant will be taken.
“From the 836 licences checked, 24 penalty infringement notices were issued valued at $27,100 for a range of breaches, including operating without a licence, failure to lodge an audit or complete continuing professional development before the renewal of a licence or certificate,” Mason-Cox said.
This is the 10th operation targeting the real estate industry across Sydney this year, with more than 762 agents visited and the licences or certificates of 1,342 agents sighted.
More than 59 penalty infringement notices have been issued – including for failing to have a licence and failing to supervise staff and business.
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Sydney agency under Fair Trading investigation for underquoting

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A waterfront Putney house topped last week's sales, according to CoreLogic RP Data.
The four bedroom, three bathroom full brick home with a saltwater pool sold for $4.25 million.
It was one of five New South Wales homes to make this week's top 10 list, which included one West Australian home, one Queensland house and three Victorians.
The top 10 sales for the week ending Sunday 30 November 2014
<a href="https://www.realestate.com.au/property-house-nsw-putney-118531819" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">34 McGowan Street, Putney, NSW</a>
 {qtube vid:=zVxWH1XvWdo}
The Putney house sold through McGrath Estate Agents. It has an absolute waterfront position, situated on a long 1,131 square metre plot running from McGowan Street to Morrison Bay.
The house includes split level living spaces, a games room and a wet bar which opens onto the outdoor pool area at the home's rear. Each of the four bedrooms has its own balcony and water views.
The vendors paid $2.55 million for the home in 2006.
<a href="https://www.realestateview.com.au/Real-Estate/74-johnston-street-mosman-park/Property-Details-buy-residential-7851170" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">74 Johnston Street, Mosman Park, WA</a>
<img src="/images/2014/12/02/2.jpg" alt=""> 
The only West Australian home to make it to this week's top 10 sales list was Norris Ville in Mosman park. Sold through Shellabear's Cottesloe, the house secured $4 million at auction.
The same family has owned the 1,043 square metre plot Norris Ville sits on since the 1800s, when it was part of a dairy farm. A home was built on the north-facing site, two houses from the banks of the Swan River, in 1953.
The house has four bedrooms and one bathroom.
<a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/360131" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">5 Regatta Way, Cabarita, NSW</a>
<img src="/images/2014/12/02/3.jpg" alt=""> 
This four bedroom, two bathroom home sold for $3.8 million through Raine &amp; Horne Montano.
Part of the Edgewood on Cabarita Shores complex, the north east facing home is situated on the waterfront. Residents have access to the complex's pool and gymnasium. There are Italian marble floors throughout the living and dining areas.
The sellers purchased the house for $2.13 million in 2010.
<a href="https://www.realestateview.com.au/Real-Estate/birdwood-avenue-brighton/Property-Details-sold-residential-7801900" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">20 Birdwood Avenue, Brighton, Vic</a>
<img src="/images/2014/12/02/brighton-dec-2-one.jpg" alt="">
A modest brick home – on an 811 square metre north facing plot – sold for $3.2 million through Nick Johnstone Real Estate Brighton.
According to the listing information, the site is "ideal land to build a luxury home or two townhouses". The house currently returns $52,000 a year, reflecting a yield of 1.6%.
<a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-118379075" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">44 Woolwich Road, Hunters Hill, NSW</a>
<img src="/images/2014/12/02/5.jpg" alt="">
This 1930s home sold for $3.15 million through Ward Partners Hunters Hill.
The four bedroom, three bathroom house on 999 square metres has rear views of Lane Cove River. It includes a formal sitting room with a bay window seat, a formal dining room, and a sunroom with French windows. There is also a home office and an under-house cellar.
Article continues on the next page. Please click below.
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-118320891" target="_blank"></a>
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-118320891" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">10a Latimer Road, Bellevue Hill, NSW</a>
<img src="/images/2014/12/02/6.jpg" alt="">
A three bedroom house secured $3.08 million through BradfieldCleary Double Bay last week. The deceased estate sale was the first time the home had been sold in 34 years.
The 708 square metre site has a rear north easterly aspect.
<a href="https://www.realestateview.com.au/Real-Estate/black-street-brighton/Property-Details-sold-residential-7891100" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">68 Black Street, Brighton, Vic</a>
<img src="/images/2014/12/02/7.jpg" alt="">
The second Brighton house to make this week's top 10 sold for $2.96 million through Nick Johnstone Real Estate Brighton.
The five bedroom, two bathroom house has a "French inspired" design, with timber parquetry, front facing balconies and a foyer. On the lower level, there are both formal and informal open plan living and dining spaces, while the five bedrooms sit upstairs.
The owners purchased the property 10 years ago, for $1.68 million.
<a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-118323439" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">15 Madeline Street, Hunters Hill, NSW</a>
 <img src="/images/2014/12/02/8.jpg" alt="">
Buyers paid $2.96 million for this renovated Hunters Hill Cottage, sold through BresicWhitney Hunters Hill.
The sandstone cottage on 711 square metres has four bedrooms and two bathrooms. The open plan living and dining area open through concertina doors to the outdoor dining area.
<a href="https://www.realestateview.com.au/Real-Estate/21-katoomba-avenue-hawthorne/Property-Details-buy-residential-7849682" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">21 Katoomba Avenue, Hawthorne, Qld</a>
<img src="/images/2014/12/02/9.jpg" alt="">
This six bedroom, six bathroom Hawthorne house sold for $2.93 million last week. Ray White East Brisbane took the curious step of advising buyers that "over committed vendors must liquidate their stunning home" ahead of its Saturday auction.
The 717 square metre house on a 1,215 square metre plot has multiple internal living spaces, including a home theatre, open plan living and dining area, a library and a sitting room with a wet bar. Outside, there is a 96 square metre living area with a fireplace and outdoor kitchen.
The home's "over committed vendors" paid $1.2 million for the property seven years ago.
<a href="https://www.realestate.com.au/property-house-vic-hawthorn-118040143" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">15a Hawthorn Glen, Hawthorn, Vic</a>
<img src="/images/2014/12/02/10.jpg" alt=""> A four bedroom house secured $2,855,000 through Bekdon Richards Hawthorn.
The double storey home sits off Glenferrie road, on Hawthorn's Scotch Hill, near Scotch College.
On the top level, there are four bedrooms, including the master bedroom with walk in robe and spa en suite. There is a "grand entrance hall" downstairs, along with formal and informal living and dining areas. The house also contains a five car garage and workshop, a gymnasium and a music studio or cellar.
The sellers paid $2.3 million for the home three years ago.
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jrichardson-uRX5hFdKfN

Putney waterfront heads CoreLogic RP Data's top 10 sales of the week

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A new survey has revealed that not only are 62% of home buyers heading into an auction without a strategy, and 48% are not as prepared as they could be, but that 51% are experiencing anxiety about the auction process.
The research from St.George Bank points to 48% saying that auctions have a negative impact on their sleep patterns.
The most difficult house hunting and buying processes were noted as being making an offer or bidding at auctions, evaluating which properties provide good value and choosing the suburb in which to buy, with 46%, 44% and 44% respectively noting these options. A total of 57% further said that they would find it easier if property comparisons were simpler.
More than half have missed out on a property they wanted due to the heat of competition.
However, the majority felt confident when knowing what to look for at a property inspection and organising building and strata inspections.
St.George’s general manager retail banking Andy Fell said that they have created a new online hub called HomeHero to assist customers, in conjunction with Bank of Melbourne and BankSA. The resource includes step by step guides and information.
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Half of property buyers anxious, losing sleep over auction process

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According to CoreLogic RP Data's November figures, home price growth is slowing.
<a href="https://www.propertyobserver.com.au/https://twitter.com/cmkusher/status/539223795421421568" target="_blank"><img src="/images/2014/12/01/tweet-dec-1-one.jpg" alt=""></a>
Australian capital price growth was 8.5% higher in last month than in November 2013. While CoreLogic RP Data research analyst Cameron Kusher deemed the year on year growth "healthy", he also noted it was down from the previous peak of 10.5%, recorded in April this year.
Given household annual household income growth has also slowed this year, Kusher is unsurprised at the result.
 
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Tweet of the day: Slowing price growth linked to disposable incomes?

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These five ballrooms are unlikely to have ever seen a minor celebrity (let alone Daniel MacPherson), but they still deserve a standing ovation.
While ballrooms are typically associated with grandeur and gowns, they are sometimes hiding where you wouldn't expect them. An unassuming 1950s <a href="/news/strictly-ballroom-devotees-for-baldwell-park-offering">Bardwell Home is currently on the market</a>, with a ballroom custom built for the Joan Allen Dance Studio.
Other ballrooms have made sure to meet the black tie dress code, with timber parquetry, chandeliers and bay windows.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-blackheath-118033759" target="_blank">179-181 Wentworth Street, Blackheath, NSW</a> 
 <img src="/images/2014/11/28/1.jpg" alt="">
Yabba Yabba, a circa 1888 restored heritage mansion, is one of Blackheath’s earliest guesthouses. It features a formal ballroom which opens onto an entertaining deck and a fish pond. The chandelier-lit ballroom, currently used as a formal dining room, has herringbone parquetry.
The home includes 11 suites, a commercial kitchen, a drawing room with open fireplace, a media room and a 20 seat dining room.
</li>
<li>
<a href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-canyonleigh-117390091" target="_blank">250 Tugalong Roadm Canyonleigh, NSW</a>
 <img src="/images/2014/11/28/3.jpg" alt="">
Satori Springs is a 100 acre estate in Canyonleigh. This ballroom has polished timber floorboards and full height windows – unfortunately, we assume the baby grand piano and suit-clad pianist is not included. The chandeliers look a good deal more suitable in this ballroom than they would <a href="/expert-insights/investing/chandeliers-hanging-in-the-garage-he-said-she-said">a garage – or even a chicken coop</a>.
For those who prefer not to dance, there is another complex on the estate, with an indoor heated swimming pool, spa treatment rooms and its own tennis court.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-blackheath-117906883" target="_blank">166-168 Shipley Road, Blackheath, NSW</a>
 <img src="/images/2014/11/28/2.jpg" alt="">
Blackheath has another, slightly more modest, ballroom. The ballroom in the circa 1930s 166-168 Shipley Road property is now used as a gallery, complete with hanging rails. It features timber floorboards and ceiling roses.
The mixed-use property, with a two bedroom, two bathroom apartment, studio space and dining room, is currently on the market with a price guidance of $699,000 plus.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-endeavour+hills-116728459" target="_blank">63 - 65 Churchill Park Drive, Endeavour Hills, Vic</a>
 <img src="/images/2014/11/28/4.jpg" alt="">
No matter how much white furniture you pour in, it's hard to disguise a ballroom. This ballroom, currently used as a living and dining room, has a total 89 square metres of dancing space. It's only surpassed in size by the home's 93.48 square metre six car rear garage.
The two acre property, essentially a dual home, has six bedrooms, four bathrooms and two kitchens.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-bendigo-111263891" target="_blank">60 Barkly Street, Bendigo, Vic</a>
 <img src="/images/2014/11/28/5.jpg" alt="">
Lansellstowe, an Italian Renaissance style circa 1913 Bendigo mansion, was designed by architects Beebe and Garvin for Leonard Vere Lansell, the son of George Lansell, a mining entrepreneur.
The three level home features a ballroom with pressed metal ceilings, chandelier and timber parquetry. A landmark heritage property, the mansion includes over 20 rooms.
</li>
</ol>
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Five home ballrooms worthy of Dancing With the Stars

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NSW Fair Trading says property auctions should be conducted in English, but current laws do not prevent an auction being translated into a different language. 
The issued flared after a recent A Current Affair report on Melbourne auctions.
Auctioneer Robert Ding at Marshall White Boroondara was profiled on a report entitled 'Chinese buyers taking over the housing market', which focused on his dual-language talents during a house auction.
Ding thought the report was one sided.
“The auction footage had me talking in Mandarin but I was also translating it to English and vice-versa,” he told Real Estate Business.
David Scholes, founder and principal of auctionWORKS, does not have a problem with dual language auctioneers conducting auctions in another language in areas where offshore buyers predominate.
“As long as the auction is conducted primarily in English, and when I say primarily I mean completely in English with parts such as prices and relevant topics regarding terms and conditions being translated into other languages, then I don’t see why anyone would have a problem with it,” Scholes said.
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jchancellor-FAypfDUnLy

English language property auctions required in NSW

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A 1950s Bardwell Park home with its own ballroom has been listed for 13 December auction.
<a href="https://www.realestateview.com.au/Real-Estate/29-slade-road-bardwell-park/Property-Details-buy-residential-7950552" target="_blank">The property at 29 Slade Stree</a>t was formerly owned by dancer Joan Allen, who reportedly helped popularise Latin American dancing in Australia in the late 1940s.
The ballroom in the house was purpose built for the Joan Allen Dance Studio.
Joan Allen, whose married name was Banister, died in April last year.
Raine &amp; Horne’s Gerry Bernhardt has the Bardwell Park property offering.
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Strictly ballroom devotees for Baldwell Park offering

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Tasmania and Western Australia dominate <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>'s list of the most discounted homes in the country.
Despite price cuts of up to 40% and months (for some, years) on the market, buyers just won't bite.
SQM Research's top 10 discounted homes:
<a href="https://www.realestate.com.au/property-house-tas-wattle+grove-116035107" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">78 Walters Road, Wattle Grove, Tasmania</a>
 <img src="/images/2014/11/26/1.jpg" alt="">
Vendors have cut the price guide for this property by 40%, making it the most discounted home in the country. There is a three bedroom, two bathroom house on the 10 acres, along with a separate two bedroom cottage.
Set over two titles, the Wattle Grove property was initially listed for $1.15 million, but now comes with a $685,000 price guidance after 279 days on the market.
<a href="https://www.domain.com.au/property/for-sale/rural/nsw/leppington/?adid=2011255071" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">61 Woolgen Park Road, Leppington, New South Wales</a>
 <img src="/images/2014/11/26/2.jpg" alt="">
The price of this 5.24 acre block has been cut from $1.55 million to $950,000, a 39% discount. Running parallel to Camden Valley Why, the property has a two bedroom cottage, currently rented for $300 per week by a horse owner. If the home eventually sells for its $950,000, the current rent would reflect a 1.6% yield.
It has been on the market for 148 days.
<a href="https://www.realestateview.com.au/Real-Estate/28a-malsbury-street-bicton/Property-Details-buy-residential-7962768" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">28a Malsbury Street, Bicton, Western Australia</a>
<img src="/images/2014/11/26/image3.jpg" alt=""> 
A two bedroom, one bathroom strata unit is on the market for $950,000, after a 37% price cut. The home celebrates its first anniversary on the market today –one year ago, it was listed at $1.5 million.
The vacant property is currently listed for rent at $480 per week. If tenanted and sold at its current advertised price, it would return a 2.6% yield.
<a href="https://www.realestate.com.au/property-house-tas-battery+point-108230936" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">1/23 Albuera Street, Battery Point, Tasmania</a>
<img src="/images/2014/07/09/6.jpg" alt="">
This luxury renovated apartment in Hobart is situated in the former Albuera Art School.
Vendors are seeking offers over $1,400,000. Its price has been cut by 36% – when it was first listed on the market, more than three years ago, it was listed for $2.2 million. The property has three double bedrooms, with polished timber floors throughout and pressed metal ceilings.
<a href="https://www.realestateview.com.au/Real-Estate/2-wellington-street-richmond/Property-Details-buy-residential-6093682" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">2 Wellington Street, Richmond, Tasmania</a>
<img src="/images/2014/07/09/2.jpg" alt="">
Vendors lopped a cool million off the asking price of this Tasmanian heritage property. It was originally listed at $2.8 million, with its price cut by 36% after 391 days on the market.
The historic property has a four bedroom, four bathroom main residence, with a formal living and dining area, sunroom and cellar.
There is also a self-contained cottage on the property, and vendors will consider selling the adjoining plot.
 
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<a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107584093" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">21 Cotton Court, Strathalbyn, South Australia</a>
<img src="/images/2014/04/30/strathalbyn.jpg">
This Strathalbyn home has seen a price cut of 35%. It was initially listed at $498,000, and currently has a $325,000 price guide. The house was listed 1198 days ago, making it the longest-listed house in the top 10.
The vendors purchased the c1900s house for $118,000 in 1995.
<a href="https://www.realestate.com.au/property-unit-wa-cottesloe-113421415" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">4/134 Marine Parade, Cottesloe, Western Australia</a>
<img src="/images/2014/11/26/cottesloe.jpg" alt="">
A three level home in Cottesloe has been on the market for 596 days – a bit over a year and a half. Its price has seen a 35% cut, from $2.75 million to $1.8 million.
The three bedroom, three bathroom unit has panoramic ocean views from its balcony.
<a href="https://www.realestateview.com.au/Real-Estate/76-tinderry-road-michelago/Property-Details-buy-residential-3186525" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">76 Tinderry Road, Michelago, New South Wales</a>
<img src="/images/2014/07/09/4.jpg" alt="">
This 710 hectare property was first listed in October 2011 at $1.9 million. Since then, its price has dropped by 34% to $1.25 million.
The original 1925-era home still stands on the rural property and requires significant renovations. Permanent water is supplied by the Michelago creek, with two dams on the land.
<a href="https://www.realestate.com.au/property-house-sa-belair-116283343" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">40 Hawker Avenue, Belair, South Australia</a>
<img src="/images/2014/11/26/belair.jpg" alt="">
This contemporary home was originally advertised at $1.69 million in March this year. Its price has since dropped by 32%, and the home is now listed at $1.69 - $1.79 million.
The house has re-entered the market due to a contract that fell through. It has four bedrooms, three living spaces, a 15 metre lap pool and a triple car garage.
<a href="https://www.realestateview.com.au/Real-Estate/2-stockdale-road-kewdale/Property-Details-buy-residential-7820108" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">2 Stockdale Road, Kewdale, Western Australia</a>
<img src="/images/2014/11/26/stockdale.jpg" alt="">
The third West Australian home on the top 10 list was originally put on the market three months ago. Since then, the price guidance on the three bedroom house has dropped 31%, from $870,000 to $600,000. It is set on a 685 square metre block.
The listing information, which says the price is "reduced for quick sale", notes the City of Belmont has indicated it will consider selling the adjoining 200 square metre plot.
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The 10 most heavily discounted homes in Australia

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The Organisation for Economic Cooperation and Development (OECD) has advised the Reserve Bank of Australia to lift interest rates in the first half of 2015.
It would prevent housing prices rising to risky levels and then unwinding sharply, say the OECD.
The OECD’s semi-annual economic outlook from the Paris-based agency forecasts the Australian economy to expand at a below average 2.5% next year and recommends the Reserve Bank begin lifting interest rates from the second quarter of 2015.
Noting the cash rate at an historic low of 2.5% since August 2013, the OECD suggested persistent low rates were causing a “search for return” among investors.
“This requires close oversight of asset-market developments, particularly rising housing credit, which is now being driven by investors,” the OECD said, according to a Fairfax Media report.
“Further prudential measures on mortgage lending should be considered as a targeted means to cool the market, thereby heading off risks to financial stability,” the OECD says.
The think tank said "the momentum in property prices is uncertain and could unwind sharply.” 
“Any economy faces the risk that debt build-ups particularly from real estate and problematic loan origination, will lead to financial accidents with the real economy,” said Catherine Mann, the OECD’s chief economist.
 
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OECD advises RBA to lift interest rates and cool house prices in 2015

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This dilapidated home last sold for $15,000 in early 2011 and was on the market for $20,000 this year.
It has now been secured for $19,000, reflecting a 7% annual growth.
It was Victoria's cheapest detached house, albeit uninhabitable, on offer at the time, listed through Wayne Heard at Elders Real Estate in Bendigo.
<a href="https://www.eldersrealestate.com.au/office/bendigo/residential/buy/property-house-vic-korong-vale-566293" target="_blank">124 Vernon Street, Korong Vale</a> is on 998 square metres of land, a short drive from gold mining town Wedderburn.
<a href="/news">Korong Value</a> is about two and a half hours from Melbourne CBD.
The dearest in the town <a href="https://www.realestate.com.au/property-house-vic-korong+vale-113713363" target="_blank">now for sale is $75,000</a>.
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