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

Sovereign Islands

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A luxury Sovereign Islands, Gold Coast home has sold for $5 million, up on its $4.75 million sale price three years ago.

It sold through Ali Mian at Ray White Sovereign Islands.

The four bedroom, five bathroom house was designed by Paul Clout on its 700 sqm 33 Hampton Court holding.

The vacant block first sold in 2004 at $1.5 million, according to CoreLogic.

The house first sold at $4 million in 2008. 

Facing north-west to the Broadwater, the house comes with a 24m pontoon with its 30 metres of water frontage, capable of mooring up a 100ft mega yacht. 

The exceptional home was built by Deep North Developments builders in 2006 with the house being a finalist in Queensland House of the Year.

It took two years to build with over 300 sqm of concrete and 40 tonne of steel.
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The house first sold at $4 million in 2008 and last sold for $4.75 million three years ago

jchancellor

Luxury Sovereign Islands home sold for $5 million

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A record $32 million auction bid was made for a waterfront mansion on The Sovereign Islands in South East Queensland.

But the vendor Riccardo Rizzi, who rejected the $32m bid offered at weekend auction, remains confident he will achieve the desired price.

“The Queensland market’s hot, it’s booming,” he told The Courier-Mail post-auction. 

“The house reached $32 million, it didn’t sell. It’s now on the open market at $36 million and there’s a couple of people interested."

There was an onsite auction attended by eight registered bidders last October when a $28 million vendor bid was lodged.

The now Perth based civil engineer Riccardo Rizzipurchased the incomplete house in 2013 for $5.3 million.

Set on 4255 square metres, the finished home has six bedrooms and a 30-metre pool in a roman-inspired garden.

It has been listed through Amir Mian of Amir Prestige.
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Vendor Riccardo Rizzi, who rejected the $32 million bid and last year a $28 million bid, remains confident he will achieve his desired price

Record $32 million auction bid rejected for Sovereign Islands waterfront mansion

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A waterfront trophy home in the Gold Coast’s Sovereign Islands has been listed for sale.
The home at <a href="https://www.realestate.com.au/property-house-qld-sovereign+islands-134417202">28 Excalibur Court</a>, the home belongs to former Seaside marketing director Zelma Creswick, who paid $8 million in 2017.
It was constructed by the developer Donald Barclay, who paid $1.3 million for the 2,400 sqm block in 1988, with the home being built soon after.
The home, offered for rent at $3,500 a week in February then cut to $2,500 in July, has four bedrooms and five bathrooms, with 89 metres of wide water frontage.
It features an open fireplace, swimming pool and spa, entertaining patio and terraced gardens.
The European-style abode is only a bridge away from restaurants and Paradise Point beaches.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-17%20at%2012.09.39%20pm.png" alt="">
“Ideally suited to large families who are passionate about entertaining, this timeless double storey residence is ready for the right buyer to take it to the next level of waterfront luxury”, the marketing said.
Kollosche’s Matt Lanyon and William Sarti hold the listing.
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j.ballantyne1990-6AQqhLzZaK

Sovereign Islands trophy home listed

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A large waterfront estate with adjoining parklands in Sovereign islands, Queensland has been sold for $5.5 million. 
It is situated on a huge 1,948sqm block at <a href="https://www.realestate.com.au/sold/property-house-qld-sovereign+islands-133148234" target="_blank">1-3 Knightsbridge Parade East</a>. 
The 1450sqm family home offers large living and dining areas, six large bedrooms, kitchen with quality appliances, games or sports bar and media room. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/soverign%20islands%202.jpg" alt="">
The outdoor comes with infinite-edge pool, entertaining area overlooking established gardens and the canal, and fully fenced yard, 
There is a massive basement parking with room for 10-12 cars. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/soverign%20islands%203.jpg" alt="">
The home also features double height foyer, extra high ceilings, and built-in BBQ. 
Edin Kara and Ali Mean of Sovereign Islands sold the property. 
It was last sold in 2012 for $3.215 million. 
 
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Sovereign Islands waterfront estate sold for $5.5 million 

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A home on the Gold Coast's Sovereign Islands, at Paradise Point, has come onto the market with an asking price of $3.65 million.
Located at 22 Knightsbridge Parade West, the home sits on a 708 square metre block, with an 18.2 metre-deep water frontage to the suburb's iconic canals.
It features five bedrooms, six bathrooms, an eight-car basement garage, home theatre, large pool, 8 metre pontoon with a dry dock, and a grand foyer with a 19-foot ceiling.
It last traded in 2004, when it sold for $900,000.
The suburb has a median house price of $1,177,044.
Critton Astras, from Astras and Bond Estate Agents Surfers Paradise, listed the property.
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wdavis-8cCN98p7xp

Sovereign Islands home on Knightsbridge Parade West listed for $3.65 million

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A Gold Coast mega-mansion has been listed with record-breaking hopes for Queensland.

The Sovereign Islands home is being sold by civil engineer Riccardo Rizzi, with $45 million aspirations.

The Knightsbridge Parade East property was last sold in an unfinished state for $5.3 million at a mortgagee auction in 2013. 

<img alt="" src="https://www.urban.com.au/images/2019/10/8/GC%20mansion%202.JPG">

Some $21 million had been spent on the initial construction and consolidation of the four blocks.

Set on 4255 square metres, the finished home has six bedrooms and a 30-metre pool in a roman-inspired garden. 

Alex Phillis at Alex Phillis Paradise Point is marketing the home.

Queensland’s current record was set in 2008 when businessman Tony Smith sold an unfinished mansion on five beachfront blocks at Mermaid Beach for $27 million.

This article first appeared in The Weekend Australian.

<h2>Queensland properties selling now:</h2>

[smartcode_project:default project_id=27575]

[smartcode_project:default project_id=22057]

[smartcode_project:default project_id=7974]
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firstname1-iYD4UYzvBa

$45 million Sovereign Islands mansion looks to set sale record

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A home that featured prominently on the hit Netflix mockumentnary series Lunatics, created by Australian comedian Chris Lilley, has hit the market.
The incompetent real estate agent Quentin Cook, played by Lilley, was attempting to sell the luxury home.
Now the Sovereign Island, Gold Coast home is really for sale at $3.6 million.
The four bedroom home on the Queen Guineveres Place dress circle features a riverside pool and jetty.
Alex Phillis and father Brian at Alex Phillis Real Estate Paradise Point are asking $3.6 million.
It has undergone a $500,000 renovation since sold for $2.125 million in 2016.
The centrepiece is the $15,000 chandelier, which took a professional cleaner nine hours to polish before the show.
This article was first published in the Weekend Australian. 
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Sovereign Island home featured in Netflix hit Lunatics for sale

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There was a pre-auction sale on the Gold Coast when $5.5 million was paid for a newly built opulent six-bedroom, seven bathroom mega-mansion on the Sovereign Islands.
Its luxury inclusions at <a id="LPlnk692437" class="OWAAutoLink" href="https://www.realestate.com.au/property-house-qld-sovereign+islands-131469114" target="_blank">85 The Sovereign Mile</a> included a "presidential master suite," an underground entertainment den, vertical garden and pool.
Ivy Wu, at Amir Mian Prestige Property Agents’ Ivy Wu, sold the house to a local family. 
Set on a north facing 818sqm allotment, the 1,085sqm residence comprises six bedrooms, gourmet chef's kitchen, undercover entertainment pavilion, and tired cinema or media room.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/29/sovereign%20islands%202.jpg" alt="">
There is a self-contained in-law suite with lounge, kitchenette and en-suite.
The natural material used in the construction of the home include polished travertine, Calcutta Marble and imported timbers.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/29/sovereign%20islands%203.jpg" alt="">
Other highlights include 20m waterfront, gymnasium, Sawo Scandia sauna, internal lift, C-bus intelligent lighting system, and basement parking for over 6 vehicles. 
Located in the security patrolled community of Sovereign Islands, the property is only minutes to Broadwater. 
 
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Sovereign Islands $5.5 million pre-auction trophy home sale

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A six bedroom waterfront home on the Sovereign Islands with water and mountain views has hit the market with over $3.98 million hopes. 
Nestled on an 818 square metre block of land, the home at <a href="https://www.realestate.com.au/property-house-qld-sovereign+islands-131556534" target="_blank">58 The Sovereign Mile </a>was built by award winning local residents and brothers- DTL constructions and is still under builders warranty. 
It comprises lounge room with views over the sheltered bay, cinema rooms, kitchen with Bosch appliances, ensuited bedroom, four additional bedrooms on the second level with the master bedroom suite, and third level loft that could be a self-contained apartment. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/sovereign%20islands%202.jpg" alt="">
Additional features include infinity edge pool, tropical landscaping, Daikin zoned air con system, outdoor BBQ and shower, 10 metre jetty and four car garage plus a workbench. 
The sellers have bought another home on Sovereign Islands and want a sale prior to September.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/sovereign%20islands%203.jpg" alt="">
Sovereign Islands is located only 15 minutes to Southport and 50 minutes to Brisbane airport. 
Alex Phillis of Alex Phillis Real Estate Paradise Point has the listing. 
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Sovereign Islands waterfront home listed for $4 million

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Of the 205 Ray White Group auctions that took place last weekend, the biggest attraction was a Sovereign Islands trophy home.
Roughly 30 people gathered outside <a id="LPlnk813899" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGRhz7zx9p1Xm1+gvAUovcYM8CxElctB6JYMXYMxfWnb8=&amp;rh=ff0046ea7c3b8ec767b0a3c8234898083e4213f8" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">15 Westminster Court</a> where two active bidders fought it out.
A local couple, one of the four total registered bidders, managed to secure the property at $3.1 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/11/Sovereign%20Island%202.jpg" alt="">
Ray White Sovereign Island agent Edin Kara said there was a real buzz around the prestige property with plenty of activity during the four-week long campaign.
“The home hadn’t been on the market for eight years and in that time, there wasn’t much work done on it, so they’ll be looking to renovate to turn this house in to pure luxury."
“The local couple have snapped up arguably the best buy on Sovereign Islands,” she concluded.   Set on 730 sqm the home has 30 m of water frontage.
Comprised of four levels, the six bedroom five bathroom property features, an executive study, a pool, a gym, a wine cellar and comes with a pontoon suitable for a large boat. 
The property has views over the Broadwater, hinterland and Coomera River.
Last sold in 2011 the home traded at $2.559 million.
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