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

<html><body>
The Lifestyle Channel’s Selling Houses Australia will return next year, with filming currently taking place.
It seems filming for the new season began at the start of this month, with host Andrew Winters tweeting the following:
<img src="/images/2014/07/09/sha1.JPG" alt="">
As always, the locations for the new season are a tightly held secret, but Winters offers a little clue with this tweet:
<img src="/images/2014/07/09/sha2.JPG" alt="">
Winter, along with interior designer and The Block judge Shaynna Blaze and landscape designer Charlie Albone, will be helping home owners who are desperate to sell their properties, which might be struggling to attract buyers due to poor staging, bad conditions or the sellers’ attitudes.
Winter has been in the real estate business since he was 17, selling homes in Central London and Australia and imported his television franchise from England, where he was the host of Selling Houses – he was also the host of another spin off, Selling Houses Abroad.
Blaze is also a familiar face in renovation reality TV as a judge on The Block, with Belle Magazine editor-in-chief Neale Whittaker and interior designer Darren Palmer. Not to be beaten by Winter and Blaze, Albone has hosted other Lifestyle Channel shows including The Party Garden and Charlie and the Flower Show.
Selling Houses Australia makes a point of tackling particularly difficult to sell houses, including the three bedroom <a href="/news/nt/even-selling-houses-australias-andrew-winter-renos-didnt-turn-the-tide-on-rapid-creek-darwin-apartment-offering">apartment of boilermaker Robert Crispe</a>, which even Winter couldn’t  help - the home failed to sell at its filmed auction. 
If you have a home you’re hoping to offload, applications for the show are open through the <a href="https://www.lifestyle.com.au/tv/selling-houses-australia/apply/" target="_blank">Lifestyle Channel’s website</a>.
The application reads:
“Can't sell your home and need a makeover from the team? We want to hear from you!
“Selling Houses Australia are always searching for homes that will offer fresh challenges for the team. They've been hit with just about every real estate nightmare from on site pylons to flood affected homes, to inner city hovels but there are always more testing property scenarios out there and more home owners in unique circumstances.
“So, if your home is stagnating on the market with no buyer in sight then register now. Try to be as specific as possible with your dilemma whether it be location, décor, or an urgent need for a sale.
“Please note: your house must be on the market to qualify and must remain on the market after the makeover until it sells."
Applicants are asked to provide their contact details, descriptions of their home and its selling history (including the time it’s been on market, the agent’s details and the house price). They are also asked whether they are Foxtel subscribers. 
</body></html>

jrichardson-uRX5hFdKfN

Selling Houses Australia now filming 2015 season

<html><body>
Three people were arrested in Johannesburg earlier this week, following a five months investigation by the Major Fraud Squad of the Western Australia Police.
Working with the Australian Federal Police and South African authorities, the Major Fraud Squad have arrested and charged Asanda Zimkhitha, 28, of South Africa and Magnus Ikechukwu Kama, 38, and Nbubusi Sunday Okeke, 34, both of Nigeria with fraud, forgery and uttering.
The trio allegedly emailed a <a href="/news">Mandurah</a> real estate agency, which was managing a property owned by a South African person, pretending to be the owner.
After convincing the agency to change the owner’s contact details to their own, the three individuals allegedly asked to sell the property, communicating electronically and signing the agreements with forged signatures.
The property was put on the market and an offer accepted by the group, still pretending to be the owner. Hard copy documents were sent to the real owner’s real address in South Africa by post and the true owner contacted the agent, telling them the sale was unauthorised. The police were then contacted.
Last year, a separate fraud attempt occurred when Ntuen Promise Ekenmini collected documents regarding a fraudulent Falcon home sale (near Mandurah), also owned by a South African. Ekenmeni allegedly collected the document at a Lagos courier office, using a fake driver’s licence.
Detective Senior Sergeant Dom Blackshaw of the Major Fraud Squad of the West Australian police acknowledged the work of South African authorities and the Australian Federal Police.
“This successful outcome could not have been made possible without the excellent support and cooperation of the AFP and local authorities in South Africa,” said Blackshaw.
“This spirit of cooperation means that offenders who attempt these frauds can’t hide behind international borders, and we will be working effectively and cooperatively to make sure they are identified and caught.”
He also told the Australian Broadcasting Corporation (ABC) that the trio won’t be extradited from South Africa.
"We won't prosecute for the attempt here because they will be adequately dealt with in that country and obviously save that large cost and the time spent trying to bring people into our country to try and prosecute,” Blackshaw told the ABC.
"We're hoping that these three, that are now going to be interviewed by the South African authorities, will even throw more light on how they are operating and the extent of the group,” he continued.
West Australian Commissioner for Consumer Protection Anne Driscoll said real estate and settlement agents must be wary of fraud attempts.
 “Unfortunately these fraud attempts will undoubtedly continue so all agents need to be vigilant at all times and have the processes in place to detect these fraud attempts at an early stage,” said Driscoll.
“It is an essential part of the identity verification procedures for any change of contact details by an owner to be confirmed by the real estate agency by sending a notification to the original addresses, both physical and electronic, that are on file. This will alert the real owners at an early stage if their details are being changed fraudulently,” she said.
“This confirmation should occur before any documents are sent which could give criminals even more information about the real owners and the property they are trying to sell. Requests to change details by owners of WA property living in Africa should raise a red flag and warrant special attention to property managers.
“There have been two successful and now six attempted real estate frauds reported to us in the past six years and all except for one of those cases have involved owners in South Africa. The other owner resided in Nigeria. Property managers who receive change of contact details and agents who receive sale requests from South African and Nigerian owners should apply intense scrutiny,” said Driscoll.
Under the Codes of Conduct, real estate and settlement agents have an obligation to make sure they carry out sufficient identity checks and compare all signatures against originals. If they fail to comply, they may be subject to disciplinary action.
</body></html>

Three arrested in South Africa after WA home sale scam

<html><body>
An individual has been convicted and fined $10,000 at the Melbourne Magistrates’ Court for carrying out illegal building work.
The man had lied to a <a href="/news">Prahran</a> homeowner, saying he had the appropriate permits and paperwork and was undertaking the work under another builders’ registration.
The Victorian Building Authority laid the charges against the man alleging that there was no written building contract, he was not registered, there was no building permit and he did not have the necessary insurances. The man, whose name was not released to the public, plead guilty to all charges.
In 2009, the same man was found guilty after being prosecuted for similar offences. The Ringwood Magistrates’ court at the time ordered a fine of $3,000 and $8,076 to be paid in costs.
Murray Smith, VBA compliance and performance director, said that this explains why owners should only use registered builders and must ensure they have a building permit.
“All domestic building work in Victoria costing more than $5000 must be done by a builder who is registered with the Building Practitioners Board (BPB) and the arrangement between the parties must be documented in a written major domestic building contract,” he said.
“By using a registered builder you are hiring a professional who meets the legal requirements and has the insurance and skills needed to do the job properly.”
Smith said that for properties in Victoria nearly all building work requires a permit, and registered builders know the requirements.
You can <a href="https://www.vba.vic.gov.au" target="_blank">check to see if your builder is registered online.</a>
</body></html>

jduke-EHk3XBmHkn

Man fined $10,000 for illegal Prahran building work

<html><body>
New South Wales has topped the dominated the prestige market again this week, taking out with seven of the top 10 sales located in Sydney according to <a href="https://www.myrpdata.com/" target="_blank">RP Data</a>. 
<ol>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/71_bay_street_double_bay_nsw_2028/2116749">71 Bay Street, Double Bay, NSW</a> <img src="/images/2014/07/01/a.jpg" alt=""> Judit Korner, of the Madame Korner beauty empire, <a href="/news/madame-korner-sells-longtime-double-bay-home">sold her five bedroom house</a> (pictured above) opposite Steyne Park for $7.2 million at auction through Richardson &amp; Wrench Double Bay. 
The home is set on a 765 square metre block with dual street entrance, through a private road. Her late husband, George Korner, bought the home for £22,000.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3/18-20_coast_avenue_cronulla_nsw_2230/2011079">3/18 Coast Avenue, Cronulla, NSW</a>
<img src="/images/2014/07/01/b.jpg" alt=""> A whole floor, four-bedroom apartment sold prior to auction through Highland Property Agents Cronulla for $5.202 million. Located in the four-apartment COAST development, the apartment has an ocean front balcony and ocean views from several rooms.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/34_kennedy_street_glen_waverley_vic_3150/11086112">34 Kennedy Street, Glen Waverley, VIC</a>
<img src="/images/2014/07/01/c.jpg" alt=""> This house in Melbourne’s eastern suburbs sold at auction through JRW Property International Glen Waverley for $3.2 million. Set on a 755 square metre plot, the home has six large bedrooms, five bathroom, with a tiered theatre room and home office. The vendors purchased the home for $909,800 in March last year. In March 2011, it was advertised to rent for $425 per week.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_kywong_avenue_pymble_nsw_2073/5641743">7 Kywong Avenue, Pymble, NSW</a>
<img src="/images/2014/07/01/d.jpg" alt=""> A double storey, six-bedroom house secured $3.0 million when sold through Burns &amp; Burns Real Estate after 25 days on the market. It was purchased by the vendors for $2.3 million in September 2003. The home has substantial al fresco dining space and a pool with spa.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/71_henley_marine_drive_rodd_point_nsw_2046/5901661">71 Henley Marine Drive, Rodd Point, NSW</a>
<img src="/images/2014/07/01/e.jpg" alt=""> This four-bedroom contemporary house sold through Raine &amp; Horne Five Dock for $3.0 million. The house, with uninterrupted views of Iron Cove Bay, has European Oak flooring throughout. It was purchased by the vendor in March 2011, for $1.35 million.  
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21_dock_road_birchgrove_nsw_2041/1445052">21 Dock Road, Birchgrove, NSW</a>
<img src="/images/2014/07/01/f.jpg" alt=""> A three-bedroom terrace house sold through Belle Property Balmain for $2.735 million. The Victorian era house, with views over Mort Bay to the city and Harbour Bridge has a contemporary renovated interior. The sellers bought the house for $2.38 million in September 2010.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/16_abbott_street_balgowlah_heights_nsw_2093/1228594">16 Abbott Street, Balgowlah Heights, NSW</a>
<img src="/images/2014/07/01/g.jpg" alt="">
McGrath Estate Agents sold this home for $2.58 million this week. The art deco inspired home was built four years ago. Outside, there is a solar heated pool, cabana, lawn and covered entertaining area. There is also a rooftop entertaining area, with panoramic views from Middle Harbour to Manly. The land and former house was purchased for $1.2 million in 2007.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/145_ryan_street_west_end_qld_4101/8214696">145 Ryan Street, West End, QLD</a>
 <img src="/images/2014/07/01/h.jpg" alt="">
The only Queensland home on the top 10 list is a four-bedroom house, sold through Place Bulimba for $2.475 million. The three level house, designed by John Mainwaring, is set on 582 square metres of riverfront land. The land was originally purchased in 1985 for just $95,000, and was transferred to the couple’s daughter for $600,000 in 2011.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/9_vista_avenue_kew_vic_3101/11357589">9 Vista Avenue, Kew, VIC</a>
 <img src="/images/2014/07/01/j.jpg" alt="">
A 1930s era, English inspired home on a cul de sac sold at auction by Kay &amp; Burton Hawthorn for $2.431 million. The agents advertised the house in Melbourne’s private school heartland as “just moments from Genazzano College”. The four bedroom, two bathroom house was purchased for $785,000 in 2006, with the vendors more than tripling their purchase price in eight years.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/61b_shadforth_street_mosman_nsw_2088/4504813">61B Shadforth Street, Mosman, NSW</a>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/61b_shadforth_street_mosman_nsw_2088/4504813"><img src="/images/2014/07/01/k.jpg" alt=""></a>
This four-bedroom house was auctioned by Vernon Partners Mosman, securing $2.39 million. The 1930s era home was purchased is within walking distance of the ferry, Mosman Prep and Queenwood Junior School. The vendors purchased it in 1997 for $665,000.
</li>
</ol>
</body></html>

The 10 most expensive sales this week: RP Data

<html><body>
Changes at the Queensland Building and Construction Commission will make the resolution of issues between home owners and builders faster and cheaper.
The process is a new early dispute resolution service that stops home owners and builders having to wait until the end of the contract, explained Minister for Housing and Public Works, Tim Mander.
“Contract disputes are never pretty but when you’re talking about disputes between mums and dads who are making the biggest investment of their lives, and builders whose livelihoods could be on the line, it’s only natural that emotions can run high,” Mander said.
“In the past there was no assistance for families, or for builders, until the contract had either been terminated or completed, which meant the process could drag on for months.
“This new service will significantly reduce the cost that disputes can place on consumers and contractors as well as substantially reducing the time it takes to resolve them, without legal action.
This measure comes into effect today, and comes with an internal review process allowing anyone dissatisfied with its decision to have it reviewed at the Queensland Civil and Administrative Tribunal (QCAT) without the requirement to appeal.
“Also from tomorrow, customers will be able to access information and advice from the Commission at any time of the day or night thanks to a new 24/7 call centre,” said Mander.
“The website has also been given a major overhaul with almost 70% of information now accessible within two clicks and 100 per cent of information accessible within three clicks.”
</body></html>

Queensland to make home owner, builder disputes easier

<html><body>
The federal government says the Australian Securities and Investments Commission investigators must “lift their game” in the wake of the Senate inquiry into the Commonwealth Bank, <a href="https://www.theaustralian.com.au/business/mathias-cormann-plays-down-calls-for-inquiry-into-commonwealth-bank-says-asic-must-lift-its-game/story-e6frg8zx-1226968608995" target="_blank">reports The Australian</a>.
Finance Minister Mathias Cormann was asked on radio this morning about ASIC’s failure to investigate tip-offs against the CBA.
“ASIC of course has come out and has acknowledged they got some of these things wrong, and they’ve certainly got to lift their game,” said Cormann.
The Senate inquiry yesterday condemned the conduct of the CBA, calling for a Royal Commission to investigate the scandal involving rogue financial planners.
The Commonwealth Bank has said it is sorry some of its financial advisers failed customers, but denies it has downplayed the wrongdoing and tried to minimise its compensation, according to The Australian.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
</body></html>

krobb-aCrRNnPq6D

Federal government tells ASIC to “lift their game”

<html><body>
A class action by 2000 small MFS Octaviar unitholders against auditing and accounting firm KPMG has been settled out of court for a reported $20 million plus.
Unitholders in the Premium Income Fund, an offshoot of Gold Coast-based finance, property and tourism group MFS, also known as Octaviar, brought the case against KPMG.
KPMG was the managed investment scheme’s compliance plan auditor.
MFS collapsed in early 2008 owing about $3 billion.
MFS Ltd was a publicly listed company with interests in financial services, travel and leisure and child care businesses. MFSIM was an unlisted public company and wholly owned subsidiary of MFS Ltd (now in Liquidation).
MFSIM was the responsible entity for six unlisted managed investment schemes, including the PIF and the Maximum Yield Fund (‘MYF’).
In late 2009 ASIC commenced its own civil proceedings in the Supreme Court of Queensland against MFS Investment Management Ltd and four former officers and one manager of MFSIM. The proceedings relate to the use of $147.5 million in funds of the Premium Income Fund (PIF), for which MFSIM was the responsible entity at the relevant time.  In taking this action, ASIC stated it was addressing the core obligations of a responsible entity and its directors and officers to operate the fund with care and diligence, and in the best interest of the fund’s members.
From November 2013 to December 2013, the trial was part-heard before Justice Douglas with further trial hearings in April 2014 and May 2014 and further hearings scheduled for August 2014.
Earlier this month the Law360, New York website reported Octaviar Administration Pty Ltd won Chapter 15 recognition in a New York bankruptcy court, six months after the Second Circuit overturned an earlier order granting the relief. Over the objections of Drawbridge Special Opportunities Fund LP, a hedge fund managed by Fortress Investment Group LLC, U.S. Bankruptcy Judge Shelley C. Chapman found that Octaviar meets the provision of the Bankruptcy Code requiring debtors to prove that they have property or a place of business in the U.S.
</body></html>

jchancellor-FAypfDUnLy

MFS Octaviar class action against accounting firm KPMG settled

<html><body>
A 27 year old woman allegedly robbed a real estate agent at an open house in Surfers Paradise this weekend.
According to The Courier Mail, police allege Amy Lee Niwa, 27, of Carrara, attended an open home and pretended to be a buyer. After the real estate agent turned away to note her details, Niwa allegedly pulled out a handgun, making demands for his car keys and phone.
After taking the agent’s keys, the unlicensed driver allegedly went on a shopping spree. A police prosecutor reportedly said Niwa can be seen on CCTV footage from various stores driving into carparks in the stolen car and making purchases using a stolen credit card.
She allegedly spent almost $1000 over that afternoon at Billabong and Hot Brands stores, a bottleshop and a supermarket. Niwa was arrested two days later, after being reported by a member of the public.
The Courier Mail reports that Niwa allegedly admitted to being armed with a 20 centimetre kitchen knife in a jacket sleeve, with a syringe and some methamphetamine, with the gun not yet found.
She is accused of committing 21 offences and was refused bail. She was reportedly remanded in custody and will return to court in August.
</body></html>

Woman allegedly commits armed robbery at open home

<html><body>
It's becoming increasingly popular - renting out an unused parking space or garage and cashing in on your vacant space.
In inner city areas, and areas where parking is tight, this can be potentially lucrative.
However, it might also be illegal in some areas - with Brisbane City Council warning against it, suggesting that fines and even a court visit might be in order for those doing it.
The Courier Mail recently reported that a council spokesperson said that there had been eight complaints about 'black-market car parks' in the past year, but that enforcement notices had rectified the problem.
“If a car park is not used for the primary purpose of the property – for example, a home or an office – and the space is being charged for use, under the Brisbane City Plan 2000 a car park application is necessary,” the spokesperson told The Courier Mail.
However, despite this, it isn't actually a new revelation.
In 2012, in the Brisbane Times, they looked at the same issue. A Brisbane City spokesperson also said that it's cut and dry "illegal".
“If a resident is charging someone to park their vehicle on private property, they are essentially operating a business," they were told.
“This business would be defined as a car park under the City Plan [and] all commercial carparks require city planning approval.”
Despite this, car park renting continues to swell in Brisbane with many believing that they do not have to notify anyone of the arrangement.
In 2012, ParkingMadeEasy.com.au start-up founder Daniel Battaglia was in <a href="https://www.startupsmart.com.au/legal-matters/sydney-start-up-in-bizarre-car-parking-fight-with-wa-mayor/201208247357%20" target="_blank">a similar argument with a mayor in Western Australia</a>.
</body></html>

Renting out a car space without approval? It may be illegal

<html><body>
Terrible real estate advertisements are the bane of many an industry member, and some vendors even think that they can do a better job.
RE/MAX AUSTRALIA’s managing director Michael Davoren notes that home owners now have a chance to make their own real estate advertisement for their property, and potentially win the competition.
The online competition ‘<a href="https://www.adformypad.com.au/" target="_blank">Make an ad to sell your pad</a>’ uses a microsite to encourage vendors to submit a video advertising their property.
“We have steered away from restricting entrants to real estate customers, sellers listing exclusively, and so forth. Entering the RE/MAX ‘Make an ad to sell your pad’ competition does not require a property listing, a property management agreement, or any commitment to any real estate office,” said Davoren.
“We’ve devised a competition that can be fun for people of all ages as they make mini home movies while creatively and imaginatively showing off where they live.”
The prize pool is $35,000, with a number of prizes on offer including travel vouchers.
Judging criteria includes:
<ol>
<li>How effectively the ad showcases the home 
</li>
<li>Performance of presenters 
</li>
<li>Camera technique 
</li>
<li>Editing 
</li>
<li>Use of music and audio 
</li>
<li>Overall appeal of the ad</li>
</ol>
We’re in the first week of submissions, although at present it appears that all the advertisements are promos and examples.
</body></html>

Property News

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Property News

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News