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 Sale

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A private local investor group has purchased the Peppers Mineral Springs Hotel in Hepburn Springs.
The 4-star, 40 room, boutique Victorian hotel is located in the picturesque Daylesford and Macedon Ranges - one of Victoria’s top hot spots located less than 75 minutes from Melbourne.
Built in the 1930’s, the hotel is a fusion of Spanish mission, Arts &amp; Craft with classic art deco features, with the unique exterior having established it as an icon in the region.
The property includes the iconic heritage listed Villa Parma which is on a separate title. The public areas of the hotel had been refurbished by the designer, the late Stuart Rattle.
There were planning approvals for a new function centre, wellness retreat, 26 new hotel suites and an indoor pool.
CBRE’s Scott Callow sold the freehold property and business on behalf of the owners, Wayne Cross and Chris Malden, who have owned and developed the property since 2000.
Mr Callow said the property received over 50 enquiries, with multiple offers.
“The eventual purchaser was a local investor group that was attracted to the strong Peppers brand and the fact that the hotel is recognised as one of the premium accommodation and spa facilities in the region,” Mr Callow said.
The property has won several industry accolades including best destination day spa resort, One Hat in Age Good Food Guide 2015 &amp; Three Glass wine list in Gourmet Traveller 2015 regional hotel restaurant of the year and top 100 restaurants of Australia.
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j.ballantyne1990-6AQqhLzZaK

Peppers Mineral Springs Hotel sold to investor group

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New Zealand's Ryman Healthcare, a retirement village operator, has bought the historic Moondah, Mt Eliza estate in bayside Melbourne.
The $40 million offering was home to University of Melbourne's Melbourne Business School.
The 8.9 hectare holding overlooking the bay on the Mornington Peninsula is expected to include independent living apartments and aged care, including specialist dementia care.
It was established as a country estate called Moondah by James Grice in 1888.
It was later owned by Sir Reginald Ansett who turned it into a luxury hotel. 
The MBS decided to sell the school through CBRE as it embarks on a $10 million expansion of its Carlton campus.
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jonathanchancellor-7SQnKwU6yx

Moondah, Mt Eliza sold for retirement village development

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The requirement that the agency agreement for the sale of a NSW residential property by private treaty, state the price at which the property is to be offered for sale applies from 15 August 2016.
The requirement was previously removed as it was considered that the recent underquoting law reforms in the Act made this requirement redundant. However, stakeholders asked for this requirement to be reinstated. This was to reinforce the importance of clarifying the offer price for the seller and agent, and may help prevent underquoting. This ‘price offer’ information may also be useful for NSW Fair Trading when investigating claims of underquoting.
Following consultation with industry stakeholders, the following ‘price offer’ requirement is reinstated. It applies to agency agreements for the sale of a residential property:
If the agreement provides for the property to be offered for sale by private treaty, the agreement must specify the price at which the property is to be offered.
Agents who are using an agency agreement for the sale of residential property, on or after 15 August 2016, should check that the offer price term is in the agreement. If not, they should insert the term in the agreement and have the agent and seller each initial and date the insertion.
This requirement is included in clause 5 in Schedule 8 of the 2014 Regulation. 
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Property 101: NSW private treaty agency agreement price offer disclosure

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There is no reason why most homes can't be put up for sale in the upcoming cooler months.
Indeed quiet winters are pretty much a thing of the past in many Sydney suburbs.
The motivation to sell or buy doesn’t go away just because it’s a bit colder or pouring on Saturday.
The federal election might distract some potential vendors but recent July auction volumes have been Sydney’s busiest on record.
Homes that get great winter light can really stand out during these cooler months.
And those west-facing windows that are a summer issue can look cool from June through August.
Just draw back the curtains and blinds on the windows to let as much light in as possible.
Your focus should be on making the house or apartment feel warm and comfortable. So definitely light the fire and switch on the heat.
Turn on all the atmosphere-creating side lamps.
Even add some warm reds and oranges to your soft furnishings around the house.
Be sure to consult your agent about the best time of day to show your home for its open for inspection.
It's not quite a never-ending, year round selling season as agents do take a break from Christmas until late January, but winter is not the same compulsive period of hibernation.
Lower winter market listings will commence from the Queen’s Birthday holiday break. 
Auction hibernation happens more so in Sydney's higher-priced suburbs through winter as overseas vacations are de jour for owner and agents alike. Garden suburb vendors tend to hold back too.
But if you can find an agent who hasn't taken off for a European sojourn, then why wait for spring when there is always a flood of offerings especially at year end.
The demographic reasons for buying and selling don't take a pause so growing families who need more space do not suddenly stop needing that extra bedroom. Those downsizers who've got their off the plan settlement coming up, will want to lock in their house sale too.
This year may see higher levels of activity than usual from prestige markets reflecting the recent momentum in these sectors. Last week CoreLogic had a 91 percent success rate among eastern suburbs offerings which means there are plenty of fresh buyers still looking and the success rate also might encourage fresh vendors.
It wasn't just the east which showed a resilience over autumn which finished with a wet Saturday with none the less well attended auctions.
CoreLogic head of research Tim Lawless noted the upcoming election and debate around taxation policy hadn't dampen the renewed bounce in Sydney home values.
He noted the bounce in the Sydney home value index was around 3.4 percent over May with Sydney clearance rates holding above the 70 percent mark through late April and May. 
Common sense would tell you that less people are inclined come to an onsite auction if the weather isn’t so friendly, however while the sticky beaks might drop off during the colder months, the percentage of serious bidders among the attendees actually increases. 
The strong autumn sales period must ensure there are still plenty of committed buyers around as we head into winter, James Pratt, director of auction services at Raine &amp; Horne noted.
John McGrath recent noted that winter is not a bad time to sell.
"Actually, the opposite is usually true," he said especially as buyers with approved finance are typically only given six months to buy before they have to re-apply, so they don’t have time to take three months off over winter.
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

The demographics make winter worthwhile to list property

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Melbourne-based Piccolo Developments has purchased a quarter acre site in Fitzroy from not-for-profit Australian Volunteers International for $7.8 million.
The 71-75 Argyle Street property comprises an office building and car parking on a 1,059 square metre corner site.
It sold well above the expectations of $6 million plus at a rate of $7,635 per square metre, according to selling agents Nick Peden, Clinton Baxter and James Lockwood of Savills Australia.
Peden said they received more than 130 enquiries from local and off-shore developers and investors. 
"We had a huge amount of interest, given the location as arguably one of the best precincts for multi-unit development in Melbourne, and that interest was reflected in what was one of the best land rates of any recent comparable sale,’’ Peden said.
He said Fitzroy, and particularly the Brunswick Street precinct, was one of the popular dining, entertainment and fashion precincts in inner Melbourne.   
The property is close to the CBD and has good access to public transport. It has frontage to Argyle and Fitzroy streets.
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prateek24-ezbwHMbNAk

Melbourne developer Piccolo buys Fitzroy site for $7.8 million

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A beachfront landholding in Perth's North Fremantle has been scooped up by a private developer for $15.4 million.
Located on Leighton Beach, the 4,015 sqm site has been earmarked to form part of a mixed-use urban village. 
CBRE’s Ben Younger and Michael Milne brokered the sale for LandCorp via a public Offers to Purchase invited campaign.
“Located within one of Perth’s most exclusive beachfront enclaves, this landholding was the very last remaining site held by LandCorp, as part of the state government’s re-zoning and normalisation of Leighton Beach for urban renewal,” Younger said.
The site may be developed into a five to six-level apartment complex similar to adjacent apartment projects completed by Mirvac and Brookfield Multiplex, added Milne.
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Last Leighton beachfront site in Perth sold to developer for $15.4 million

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The proposed relocation of Warringah Golf Club’s clubhouse facilities has prompted an expressions of interest (EOI) campaign for the sale of a 4,071 sqm landholding in North Manly - one of Sydney’s most sought after residential locations.
The property at 397 Condamine Street is being offered for sale for the first time since the Warringah Golf Club acquired the site and established its first clubhouse in 1939.
Warringah Council is supportive of the strategy, having promoted the move in its new ‘District Park Plan of Management’, which includes the development of a combined sports club, lease of the golf course and other associated sports facilities.
The listing agents are CBRE’s Aaron Arias and Richard Gell.
CBRE residential development manager Gell said the property is expected to draw good interest as “the site benefits from strong residential market fundamentals, including proximity to Westfield Warringah Mall, schools and public transport into the Sydney CBD”.
The property is being offered for sale as a raw site.
 
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Warringah Golf Clubhouse site in Sydney's Manly on sale 

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The winemakers De Bortoli has emerged as the buyers of the Lusatia Park vineyard at Woori Yallock in the Yarra Valley.
The 18-hectare vineyard was bought from wine industry veteran Stephen Shelmerdine who listed it last April and sold it late last year.
The Australian Financial Review reports it is to be transferred to De Bortoli after the 2016 harvest.
Lusatia Park was bought by the Shelmerdine family in the late 1980s.
The Yarra Valley vigneron Stephen Shelmerdine and his wife Kate are part of the Myer family.
The Victorian-style home at <a href="https://www.realestate.com.au/property-acreage+semi+rural-vic-woori+yallock-119202931" target="_blank">210 Lusatia Park Road </a>in Woori Yallock had initial price expectations above $1.6 million for the five bedroom homestead with valley and mountain vistas.
It has been leased for seven years. The family company tried to sell it in 2010 and 2011 with $2.25 million hopes.
Fruit from its 1985 vines are sold to producers including PHI, a collaboration between the De Bortoli and Shelmerdine families.
The De Bortolis own vineyards in the Yarra Valle, King Valley and NSW's Hunter Valley as well as in their original base in Bilbul, in the NSW Riverina region.
The company was established by Italian migrants Vittorio and Giuseppina De Bortoli in 1928.
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De Bortoli buy Lusatia Park from Shelmerdine family

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Ninth Island, a Bass Strait island off Tasmania's north-east coast, has sold for more than $1.2 million.
The local owner of the island had initially listed the island for sale at auction last July but knocked back an offer of $1.19 million.
Selling agent Jack Lim of Fletchers Balwyn North told the Australian Financial Review the buyer was a local who bought the island before its latest scheduled auction without viewing it.
The island, which is 11 kilometres from the coast, is about 1.3 kilometres wide.
Its name is best known for the Tasmania's wine, Ninth Island.
Jack Lim said the new buyer might want to use it for ecotourism.
Ninth Island was being marketed to Chinese buyers around February last year.
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Ninth Island, Tasmania sold

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Retired swimming golden girl Stephanie Rice has sold her Paddington, Brisbane home.
Place Paddington agents Tim Douglas and Scott MacDonald secured the sale.
Stephanie Rice posted her gratitude on Instagram about the sale of her four-bedroom, three-bathroom property for an undisclosed price.
<a href="https://www.realestate.com.au/property-house-qld-paddington-121662222" target="_blank">Rice purchased the home on Kennedy Terrace </a>in 2010 for $1.265 million.
She used the house for investment purposes renting it out at most recent at $1050 a week.
It’s believed the recent sale was motivated by her move overseas.
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