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

Residential Listing

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Diplomat Alexander Downer and his wife, Nicky have listed their family's grand Georgian Martinsell estate in South Australia's Barossa.
It comes with $2 million hopes through Oren Klemich of Klemich Real Estate for Australia’s high commissioner to Britain, and former foreign minister.
It is regarded as one of the Barossa’s stately trophy homes, bought by Downers’ parents in 1974.
Following Sir Alick’s death in 1981, his widow Lady Mary stayed on at <a href="https://www.realestateview.com.au/Real-Estate/55-wirra-wirra-road-pewsey-vale/Property-Details-buy-residential-9731896" target="_blank">the Pewsey Vale address</a> until her death in October last year.
Historic items have been recently donated to the University of South Australia’s Alexander Downer Collection.
The 77 acres have 12 acres of sav blanc vineyard contracted to Grant Burge wines.
The Downers last year sold their Mount George family home to make the move to London.
 
 
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jchancellor-FAypfDUnLy

Alexander Downer lists grand SA Martinsell estate 

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The Block contestants Andy and Whitney's apartment is on the market for November 21 auction.
The pair are first time renovators and decided to include a controversial coffin shaped dining room table in their apartment.
The three bedroom octagonal shaped property includes three attaching balcony aspects and three bathrooms.
The apartment features dedicated lift access, state of the art home automation, zoned heating and indoor-outdoor surround sound.
The property also includes a large terrace with outdoor heating, external TV and its own wine fridge.
Greg Hocking and Peter Zervas of Greg Hocking Holdsworth has the listing of <a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-121112534" target="_blank">3/1A Affleck Street</a>.
The listing agents of Dean and Shay's apartment have also cast off the undesirable Commercial Road address and advertised the property as 6/1A Affleck Street.
The apartment is located in the former Hotel Saville in South Yarra which includes a ground floor cafe. 
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jrobinson-rf4aSBido9

The Block's Andrew and Whitney South Yarra apartment - complete with coffin shaped dining table

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No new properties are featured on SQM's nationwide top ten most discounted properties for list this week, leaving 219 Bernard Road North, Carabooda as the top most discounted property.
The home (above) has so far spent 803 days on the market with a 49% discount from $3,500,000 down to $1,800,000.
 <a href="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%205.42.53%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%205.42.53%20PM.png" alt="">
 
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mick.cee-iDmgDDAmu8

No changes on SQM's top ten discounted properties nationwide list

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Agents for Block contestants Kingi and Caro's apartment in South Yarra have marketed the property as <a href="https://www.realestateview.com.au/Real-Estate/2-1-5-commercial-road-south-yarra/Property-Details-buy-residential-9718540" target="_blank">2/1A Affleck Street</a>.
The other four contestant apartments in the same complex have been marketed as the more common 1/5 Commercial Road which is not as desirable a residential address.
Kingi and Caro's apartment been listed by Mark Konishi and Georgia Whitford of hockingstuart for auction on November 21.
The three bedroom, three bathroom property  occupies the entire first floor of the building.
The property features a BBQ on the large outdoor terrace with views across Melbourne.
The complex includes lift access, a communal roof top terrace with gym, nutrition station and a cafe downstairs.
Formerly Hotel Saville, the octagonal shaped property was bought by The Block producers in 2014 for $6.5 million. 
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Agents list octagonal South Yarra apartment with different address

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Believed to be the only remaining convict built dwelling on Sydney’s eastern beaches, the Coachman's House at 34A Yanko Road, Bronte will be sold as part of a property auction on 9 November. 
The heritage listed, freestanding sandstone coachman’s house built around 1859 is being auctioned by Paul Baker of Network Real Estate.
The home occupies the site of the former<a href="https://www.realestate.com.au/property-house-nsw-bronte-120920841" target="_blank"> Yanco Estate</a>. ‘Yanco’ is a Wiradjuri aboriginal language word meaning the sound of running water.  The coachman’s house is part of the legacy of the former grand residence Yanco House, built for Charles Simmons, who was one of the early councillors of Waverley Council. 
Built in hand hewn sandstone, the coachman’s house complete with kitchenette and en-suite could function as a converted artist studio, teen retreat, creative space, granny flat or guesthouse fifth bedroom.
The main residence, built around 1960 after the Yanko estate had been subdivided, is a double story four-bedroom family residence with an ocean view. 
The spelling of ‘Yanco’ changed to Yanko in 1915, when John McLaughlin became owner of the Yanco house estate and changed the name to ‘Yanko Park’. McLaughlin was a solicitor and Member of Parliament. His son Geoff McLaughlin was a Captain in the Australian army during WWI. He served at Gallipoli and died on the Western Front in 1917.
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Heritage listed Coachman's House up for sale at Bronte

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Atherstone, the five bedroom Brisbane home of former Queensland premier Peter Beattie and his wife Heather has been listed for sale.
The downsizing couple have lived at their Wiltston hilltop Queenslander home, in Brisbane’s inner north, for 22 years. 
Peter Beattie was Queensland premier from 1998 to 2007. 
They are off to an apartment on the Brisbane River at Newstead.
Marketing agent Peter Taudevin said he was thrilled to be involved in selling the 1920s home which he describes as a “slice of Queensland history”. 
Offers close on <a href="https://www.realestate.com.au/property-house-qld-wilston-121132382" target="_blank">49 Dalrymple Street</a> November 27, unless sold prior.
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Former Queensland Premier Peter Beattie lists Brisbane Queenslander

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The listing of architect Philip Perrie​'s Bronte home offers the chance to have Hollywood actors Simon Baker and Rebecca Riggs as neighbours. 
The three-level home, positioned on the ridge in <a href="https://www.realestate.com.au/property-house-nsw-bronte-120395121" target="_blank">Bronte’s dress circle</a> with outlook towards the beach and ocean, has been listed by Pauline Goodyer at Goodyer Real Estate.
It offers, like next door which sold last month to the Hollywood couple for $6.5 million, double garage acsess into the house, where the entry level has kitchen, dining and living spaces. There are three bedrooms on the first floor and spa bath in the ensuite with an ocean outlook. The ground floor has a large family room opening onto a poolside terrace. Perrie's house was built in 1999 and renovated this year on its 332 sqm block. It last traded for $650,000 in 1994. 
This article was first published in the Sunday Telegraph 
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Architect Philip Perrie's Bronte offering

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The former Canterbury Bulldogs chief Malcolm Noad and the recently appointed AMP director, Holly Kramer have their five bedroom Pymble home listed for November 7 auction. 
Scott Chadwick, of Chadwick Real Estate, expects $4 million plus for <a href="https://www.realestateview.com.au/Real-Estate/35-telegraph-road-pymble/Property-Details-buy-residential-9681510" target="_blank">the five bedroom Telegraph Road property </a>which cost $3.1 million in 2010.
The couple apparently plan to spend more time in the Southern Highlands where they have 40 hectare cattle farm at Paddys River, but have been spotted looking for something closer to Bowral. 
The couple who wed at Milton Park in 2003 met when she was Ford's marketing manager and he was group general manager of News Ltd.
This article was first published in the Saturday Daily Telegraph.
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Former Canterbury Bulldogs chief Malcolm Noad lists

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A late Victorian worker’s cottage in Melbourne's Abbotsford has been listed for October 31 auction.
More than $800,000 is expected by its Biggin &amp; Scott listing agents Andrew Crotty and Claire Parkes.
The freestanding <a href="https://www.realestate.com.au/property-house-vic-abbotsford-120912905" target="_blank">106 Park Street</a> home has been transformed with its new living areas taking advantage of the six metre width and high ceilings. 
It is lit by skylights and doors that lead to a checkerboard-paved courtyard. 
There are two bedrooms, both with built-in robes. There is a central modern bathroom.
The 138 sqm block has potential for off-street parking from the rear lane.
CoreLogic RP Data puts the<a href="/news"> suburb house median at $775,000</a>.
 
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Abbotsford freestanding cottage for October auction

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Atherfield, the 1870 Darling Point residence has been listed for sale through Christie's International with more than $15 million being sought. 
<a href="https://www.realestate.com.au/property-house-nsw-darling+point-121068946" target="_blank">The five-bedroom Gothic Revival trophy home</a> was first occupied by the Willis family, with an 1880s sketch by James Willis hanging in the Eastbourne Road home. 
With harbour views from its 1150sqm grounds, it was last sold by Di O'Neal, the widow of the late St George Bank chief Ed O'Neal in 2002 to company director Tony Froggart for $6 million. 
Atherfield is just a few doors away from the villa of fund manager Charlie Aitken and wife Ellie who are currently selling through Martin Ross at Black Diamondz Property with $14 million expectations. 
It was 2008 when the couple bought the Mediterranean-style property for $6.95 million from William Penfold, the last of the family members to head the country's oldest stationery company, WC Penfold. 
The Aitken's house, now with Thomas Hamel interiors, sits in gardens deigned by Paul Bangay.
The Froggart's, Tony and Christine, spent $8 million on a Gazebo, Elizabeth Bay whole floor apartment last year.
The five-bedroom Gothic Revival Eastbourne Road property was sold in 2002 when Tony Froggart was heading the UK brewery, Scottish &amp; Newcastle, pubs division. He then served as chief of Heineken UK Limited from May 2003 to November  2007 when he returned to Australia. Froggatt, who holds a Bachelor of Law Degree from Queen Mary College, London and an MBA from Columbia Business School, New York, serves on the boards of Axa Australia and Brambles Ltd. 
It been home to who's who of leading businessmen including David Voss.
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