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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Combined capital city auctions are predicted to fall this week after the record highs of February, according to CoreLogic.
CoreLogic report 2,558 auctions are slated for this week, down from 3,301 auctions last week.
"Auction activity is down week-on-week in Melbourne and Sydney, the two major auction markets, with 1,302 Melbourne homes set to go to auction, down from last week’s 1,635, and 858 auctions set to be held across Sydney, decreasing from last week’s 1,210," CoreLogic said.
"Across the smaller markets, volumes are set to decrease across the remaining capital cities.
"However, overall activity is set to be higher than what was seen over the corresponding week last year (2,304)."
 
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Capital city auctions this week: 
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Sydney: 858 
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Melbourne: 1,302 
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Brisbane: 141 
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Adelaide: 112 
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Perth: 35 
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 Canberra: 104 
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"South Yarra and St Kilda in Victoria are the two busiest suburbs for auctions across the nation this week, each with 21 residential homes set to go under the hammer, followed by Malvern East and Reservoir also in Vic both with 19 and Mosman in NSW with 17 auctions."
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mick.cee-iDmgDDAmu8

Weekend auction levels down from February highs: CoreLogic

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National residential vacancies edged down in October according to SQM Research, with a national vacancy rate of 2.3 percent, down from 2.4 percent in September 2016.
Louis Christopher, SQM Research managing director said the biggest capital cities, Sydney and Melbourne recorded vacancies rates of 1.7 percent and 1.9 percent, respectively, down marginally from September 2016, while Brisbane’s vacancy rate rose to 3.0 percent, up from 2.9 percent, one of only two capital cities to record a rise, along with Darwin (up to 3.2 percent from 3.1 percent).
<a href="/images/2016/11/15/Screen%20Shot%202016-11-15%20at%2012.21.27%20PM.png" target="_blank">Click to enlarge</a>
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"Perth reported the highest vacancy rate at 4.9 percent, though it was down slightly from the previous month. Hobart had the tightest rate at just 0.5 percent, down from 0.6%. Year-on-year results demonstrate that the national vacancy rate is steady," he said.
"Sydney remains the most expensive city for rents in Australia, where asking rents for houses sitting at $738 a week and $510 for units. Asking rents have surged in Canberra, up 9.3 percent for houses and 8.0 percent for units from a year earlier. Despite a tight vacancy rate, Hobart continues to offer the most affordable rental accommodation, with houses costing just $356 a week and units averaging $297 a week.
"Reflecting its high vacancy rate, Perth has recorded falls in asking rents of 11.0 percent for houses and 10.7 percent for units over the past 12 months. Yearly falls have also been posted in Darwin, with asking rents down 2.5 percent for houses and 3.1 percent for units. In Brisbane too, asking rents are down 1.8 percent for houses and up just 1.1 percent for units.
"Asking rents have slipped back in Brisbane as vacancy rates have continued to rise this year. At 3.0 percent, the rental market is finally favouring tenants and given the surge in new apartment supply, rents in Brisbane could continue to fall from here, particularly in the inner city.
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“Vacancies are likely to rise in Melbourne, Brisbane and Sydney over 2017 as more new high-rise apartment developments come onto the market. However, we believe that oversupply will largely be limited to inner-city areas where apartment supply is rising the most, which will temper rental growth."
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jonathanchancellor-7SQnKwU6yx

National residential vacancies edged down in October: SQM Research

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The NAB chief economist Alan Oster has described the dramatic prediction of an imminent collapse in the Australian property market as “garbage."
Australia has around “six weeks” to prevent a housing market collapse caused by the banks’ crackdown on foreign investor lending, a US think tank has warned.
In an article titled “Australia Risks Strategic Setback From a Significant Foreign Direct Investment Drop Due to Changes in Bank Policies”, the Washington-based International Strategic Studies Association warns that Australia “may be entering a significant phase of its economic-strategic development”.
It argues “changes in local banking policies” could see foreign direct investment in the property sector “decline markedly”. 
The article said the government itself seems unaware that the anticipatory caution on the part of Australian banks may "accelerate a decline in the Australian economy.”
ISSA president, West Australian-born Gregory Copley, told news.com.au the “banks’ caution is precipitating the market collapse”.
“We estimate that Australia has about six weeks or so to turn this situation around, otherwise there would be a massive hit on property valuations and the building trades,” he said.
“The urgency is, I believe, based on the fact that this is about how long it will take for the banks’ policies to start switching off a lot of existing and planned contracts for Australian properties.
“The banks clearly believe Australian real estate values will decline, so they are attempting to avoid that risk.
"They’ve learned from the US collapse that seizing real estate collateral is a no-win scenario when the volume is great and the market slow.
“In so doing, they precipitate the market collapse but are less exposed to it.”
The ISSA described moves by Australian banks from July this year to restrict or even withdraw funding to foreign property investors as “almost cartel-like policies”.
“The policies, now in place by all major Australian banks, were instituted in anticipation of an economic downturn internationally and domestically, but which, in fact, actually trigger or exacerbate such a downturn,” the article said.
The piece quotes a “leading Australian property source” warning that by cutting off the foreign buyer sector completely, “it is much more likely to be a self-fulfilling prophesy by depressing demand, creating oversupply and putting downward pressure on prices, thereby creating paper losses at the settlement date which would tempt buyers to walk away”.
“It will likely also have a broader impact of depressing housing prices across the whole economy. It is a kneejerk response to fraud concerns,” the source was quoted as saying.
“To my understanding the fraudulent activity has been linked mainly to one significant group, which has historically managed about 3000 sales into Australia each year.
“And notwithstanding the doctoring of supporting documentation, the actual settlement rates had remained high.
"That one property group needs to be taken to task, not the whole industry.”
NAB chief economist Alan Oster described the ISSA’s prediction of an imminent collapse as “garbage.”
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NAB's Alan Oster debunks ISSA’s prediction of an imminent property price collapse as “garbage”

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City rents continue to decline as asking rents decreases by 0.5 percent over the last 12 months, according to CoreLogic.
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City rents continue to decline: CoreLogic

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Developer Pointcorp sold out 50 percent of its residential development, Fabric in Brisbane's Teneriffe.
The weekend result saw the issuing of 35 contacts for a combined $23 million in sales.
"We were confident there is still a strong market in Brisbane for large quality apartments in exceptional locations and the weekend results confirm this," said Pointcorp director Godfrey Esmonde.
He noted the area has gone from being a heavy industrial region once dominated by heritage wool stores, warehouses and naval buildings to now undergoing a significant gentrification process with a modernised yet eclectic mix of heritage residences, dining and extensive commercial offerings.
"As one of the upcoming suburbs of the region, there’s a lot of promising commercial and residential activity occurring in the area.
Fabric is the only brand new development in the area, but takes inspiration from the patchwork of neighbouring wool stores and warehouses surrounding the area as well as NYC’s sleek loft conversions. 
"In a landmark position on the curve where the beauty of Florence Street meets the convenience of Commercial Road just 2.5 km from Brisbane’s CBD, Fabric’s architecture will be woven into Teneriffe’s vibrant social, creative, eclectic and cultural hub," he said.
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jchancellor-FAypfDUnLy

Pointcorp secures off the plan sales at Fabric in Teneriffe

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The Sydney actor Brendon Lunney is selling his tropical island, Turtle Island.
Set off the coast of Gladstone in Queensland for an expected price of about $4 million, it was one of only nine under freehold title. 
The 23-acre island which has its own helicopter pads, 15 large water tanks, vehicle accessibility via a car barge and a private jetty.
It has a development approval for a tourist resort. 
Lunney bought the island from property developer Steven Christofidellis, his wife, Marcia just two years ago for $2.145 million. 
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Actor Brendon Lunney selling Turtle Island

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Departing Melbourne Demons coach Paul Roos and wife, Tami have upsized to Brighton from Elwood.
They have spent $3.85 million on an ultra-contemporary four bedroom home bought from Allan Sinclair, the former Fitzroy player whose son, Callum plays for Sydney Swans.
They are Roos family are long-time Sydneysiders who quietly bought back last year, securing a $2.165 million Coogee apartment crafted by architects, Allen Jack+Cottier.
They had bought their $2.525 million contemporary Elwood property in 2014 after signing with the AFL club.
The property sold recently through Chisholm &amp; Gamon who secured $3.27 million from buyers agents, David and Kim Easterbrook.
This article was first published in the Weekend Australian Mansion Australia property section.
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firstname1-iYD4UYzvBa

Paul and Tami Roos upgrade to Brighton

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REINSW and the Law Society of NSW have created a new edition of the Contract for Sale and Purchase of Land 2016 to comply with new legislation.
The new version highlights a law which was brought in on 1 July 2016, affecting foreign residents purchasing a property over $2 million.
Under the new law, vendors selling a property for over $2 million will need to apply for a clearance certificate to avoid the purchaser withholding 10 percent tax from the purchase price.  
It also affects companies buying a property, if any of the owners are a foreign resident. Find out more <a href="https://www.reinsw.com.au/imis15_prod/Web/Posts/Latest_News/201603/New_withholding_tax_regime.aspx?WebsiteKey=fc035f62-aa1d-4485-9a5d-f9989cc37ba9" target="_blank">here</a>.
As a result, to deal with this new law the REINSW and Law Society of NSW have updated the Contract for Sale of Land and Purchase of Land. This new edition is not available as a paper copy but can be purchased in digital form by visiting the <a href="https://www.lawsociety.com.au/ECOS/index.htm" target="_blank">ECOS </a>website.
The new 2016 edition of the contract has prompts and clauses to deal with the new withholding tax law, and also includes a warning about the new <a href="https://www.reinsw.com.au/imis15_prod/Web/Hot_topics/Swimming_Pools/Web/Posts/Topics/Swimming_Pools.aspx?hkey=0ca667d3-d548-451b-a6a0-64a0e782a0ce" target="_blank">swimming pool compliance</a>. Find out about the main changes <a href="https://www.lawsociety.com.au/cs/groups/public/documents/internetcontent/907643.pdf" target="_blank">here</a>.  
Barry Johnston, Principal of Balmoral Partners said: “REINSW CEO Tim McKibbin has spent a lot of time time lobbying the government to make sure the legislation is workable.
“The new contract reflects this - so it is best practice to make sure you are using the latest contract because it is there to protect us.”
To find out more about the Contract for Sale and Purchase of Land 2016, watch the webinar with Barry and Gary Newton, Partner in TressCox Lawyers, <a href="https://www.youtube.com/watch?v=-hxgbBC4M5Q" target="_blank">here</a>. 
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Property 101: The new NSW contract for sale

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NSW's Southern Highlands and Tablelands offer a range of choices to investors and FHBs in the under or up to $500,000 property market, according to valuation firm Herron Todd White's July residential market review.
Southern Highlands
The market in the Southern Highlands for $500,000 is limited generally to new units in the townships of Bowral and Moss Vale and 10 to 15-year-old houses in the established subdivisions on the periphery of town.
Around the $500,000 mark will buy a new two- or three-bedroom unit in the township of Bowral or Moss Vale or a ten to 15-year-old project home needing some work in East Bowral or Moss Vale. Rentals are in the $500 to $550 per week range providing a good return. In Mittagong, a smaller project style home can be purchased for $500,000 in newer subdivisions on the outskirts of the township.
Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-moss+vale-121827434" target="_blank">27 Hoskins Street, Moss Vale, NSW 2577</a> (above) for $427,000, according to RP Data.
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Southern Tablelands
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The Southern Tablelands still offers choice and affordability to potential investors with lower price entry levels than the Highlands.
Depending on the dwelling, land size and quality of the home, between $475,000 and $500,000 will buy a new or modern home that will rent for between $470 and $500 per week. For capital growth, an investor could purchase an older style dwelling for between $350,000 and $400,000 and renovate.
"We have noticed over the past 12 months that out of town investors attracted to the region are purchasing multiple residential units or townhouse villa properties for between $200,000 and $250,000. These rent for between $220 and $300 per week providing a premium return when compared to traditional capital city rental returns," says the HTW report.
"This market continues to show good capital growth."
Rental levels in Goulburn are steady. Compared to 2015, the market has generally seen an uptick of around 15% in the Highlands and around 10% in the Tablelands.
"From our suggestions and focus in July 2015, we would consider reinvesting into these properties. Value and rental markets have improved in our region."
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NSW's Highlands and Tablelands offer good capital growth in $500,000 property market: HTW

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Property investors are still active, Adam Sparkes, the recently apppointed general manager of McGrath Projects says.
"They are perhaps taking a slightly more cautious approach, but for the right project they are happy to commit.
"A common thread amongst all buyers is they are looking for high quality developments offered with design excellence and good amenity.
"Location continues to remain important with a preference to city centres or close proximity to active retail, education and transport hubs for outer lying projects,” said Mr Sparkes who now leads a team of 63 at McGrath Projects, which includes 44 sales agents.
The chief executive John McGrath announced the appointment today saying he was intent on expanding the project division's footprint.
Adam started his real estate career with McGrath in 1998 and more recently the successful planning and marketing of the Central Park development in Chippendale, personally overseeing in excess of 1,000 sales.
Most recently, he was involved in the sellout of the second stage of Darling Square in Sydney, as well as overseeing the sales at Toorak Park (Armadale, Melbourne) and the Victoria Harbour Precinct (Melbourne) for Lend Lease. 
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