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Berwick is one of Melbourne’s most popular suburbs but if it’s out of your price range you could consider travelling just 12 kilometres down the road to Cranbourne North where the average house price is 26% cheaper.
Westpac has compiled a list of ten Melbourne suburbs where it’s cheaper to buy than in their more popular neighbouring suburbs.
<img height="200" width="470" src="/images/stories/2013/08/melbourne_house_aug_27_one.jpg" alt="melbourne_house_aug_27_one">
The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price.
“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” said Westpac’s Gai McGrath.
Cremorne, nestled between Richmond and the Yarra is presented as a more affordable alternative to South Yarra. House prices there are 29.8% cheaper. Though if you’re looking at units Burnley is a better option with a saving of 26.7%.
And Ripponlea house prices are 57.5% cheaper than in Brighton. Gardenvale units are 49.3% cheaper than Brighton units.
<img height="195" width="470" src="/images/stories/2013/08/melbourne_units_aug_27_one.jpg" alt="melbourne_units_aug_27_one">
If you wanted to buy a unit in the fourth most popular suburb in Melbourne, Toorak, you could consider travelling just three kilometres down the road to Armadale where the average unit price is 33% cheaper. According to Westpac you could own your home 17 years and one month sooner and save $247,681 in purchase price and $225,613 in interest repayments over time.
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Melbourne's 10 hidden gem suburbs cheaper than their more popular pricier neighbours 

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Sol Kerzner, a billionaire South African hotelier, is reportedly buying Hayman Island in the Whitsundays from Malaysian investment firm Mulpha Australia Ltd.
The Australian Financial Review reports executives from Kerzner International are meeting with top federal and state tourism bureaucrats and senior figures from the Queensland government.
No price has been disclosed for the 292 hectare leasehold holding, but its most recent official conservative book value was $A50 million, at the same time as announcing a $50 million refurbishment program to elevate the resort into a new benchmark of luxury.
Neighbouring Hamilton Island sold in 2003 for $185 million to Bob Oatley who has since been developing the island.
Kerzner will reportedly close the existing resort on the island for three months from January next year as he further renovates the property.
The island was first developed by airline magnate Reg Ansett in the 1950s.
Kerzner runs the luxury hotel chain One&amp;Only, the Atlantis resort on the Palm in Dubai and has properties in The Bahamas, Mexico, Mauritius and The Maldives.
Mulpha bought the island resort in 2004 along with the Sydney Intercontinental, the Melbourne Hilton and Brisbane Sheraton for a combined $400 million total. 
The 78-year old Sol Kerzner was knighted in 2010.
Mulpha's Australian property portfolio is worth around $1 billion with assets including Sanctuary Cove which was acquired in 2002 for $208 million.
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Sol Kerzner rumoured buyer of Hayman Island in Whitsundays

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Almost every off-the-plan purchase in the Oracle development in Surfers Paradise has lost money when resold.
Property Observer has found 42 instances where a unit in the 505-unit tower sold at a loss.
There were just five instances where a property has resold at a higher price than the previous sale.
There was one which resold for the same price.
The worst case was unit 2205 which originally sold for $2.435 million 2012 and resold six months later for $1.675 million – a loss of $760,000.
Unit 2305 originally sold for $2.465 million in 2006 and then resold six years later for $1.725 million – a loss of $740,000.
Unit 3401 originally sold for 1.81 million in 2006 and resold for $1.3 million in 2012 – a $510,000 loss.
And recent speculators have lost money too. Unit 23202 originally sold for $1.9 million in July 2012 and then resold for $1.3 million in February this year – a $600,000 loss.
But some did make money in the building. Unit 906 originally sold for $655,000 in 2006 and then for $405,000 in 2011. But it then sold again for $512,500 in 2012 – $107,000 more.
According to Colliers, high rise stock in the Gold Coast is at its lowest level in a decade with a recent surge of people buying into developments like Oracle.
“Over the past year projects that had a significant overhang of stock, such as Oracle, Hilton and Soul have sold a significant number of apartments and people are buying into those buildings with confidence,” Colliers’ Tony Holland said.
“They know the future looks good for the Gold Coast, with around 10,000 people moving to the region every year and significant projects such as the 2018 Commonwealth Games set to give the area a huge boost.”
There were 13 sales in the two Oracle towers over the June quarter. Tower one is reportedly 80% sold out, and tower two is 75%.
During 2012 units were being sold by the receivers at half their 2005 off-the-plan asking price.
One-bedroom units on the ground floor sold for $460,000 in 2012 – less than half the original asking price.
KordaMentha, the receivers of the troubled project took over from the Nikiforides-run South Sky Investments in December 2010.
They reportedly sold more than 100 during 2012, a third of those to Queenslanders, after relaunching Oracle at the end of 2011.
The results are similar to the Hilton Surfers Paradise development where <a href="https://www.propertyobserver.com.au/queensland/hilton-surfers-paradise-resale-price-collapse-for-but-one-exiting-property-investor/2013082164115">40 of 41 apartments in the ill-fated development, resold  at big losses.</a>
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Poor fortune for those who went to the Oracle on the Gold Coast

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1. Offering vendor financing
It is possible to sell to buyers with poor credit ratings by selling the property under contract to settle at a higher price at a predetermined future time. In the meantime the buyer lives and pays a sort of rent which works out to the loan repayment plus a bit more. Then when they settle the buyer purchases it at a price which is hopefully below the market value ensuring it’s easier to get a loan. Be careful with this though, people interested in buying this way have been determined by banks as being a liability for a reason, there are few reasons to ignore that assessment.
2. Running a self managed super fund
Running a self-managed super fund is a great idea if you’re absolutely ready to commit a lot of time and research into investment. A lot of people have lost their valuable nest egg through poor strategies and poorly executed ideas. Plus you can't live in a property owned by your super fund and you can't rent one from it either.
3. Taking bridging loans
It might seem like a no-brainer, taking a temporary interest-only loan on a new property before you’ve sold your old one but you risk defaulting on your loan if you can’t sell your old property.
4. Being a guarantor for a family member
Agreeing to guarantee a loan for a family member could mean the bank chasing you if they default. This might mean losing your house. It’s hard to say no, but a better option might be to pony up some cash so they can afford a bigger deposit or buying the property yourself and transferring it when the payments are more manageable.
5. Cross collateralising
Using multiple properties as collateral for one loan might be tempting but lenders can then reduce your borrowing capacity if they apply their own credit criteria to your income position to assess serviceability.  They could force you to sell your properties to reduce your debts if your property falls in value. You might be better off buying in a joint venture.
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Five investment finance strategies fraught with risk

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Former senator Barnaby Joyce, now the Nationals' candidate for New England, is to sell his rural acreage in north-western NSW to avoid a conflict of interests.
He acquired his Gwabegar property in 2006 for $230,000 in what he said was a cheap way to get back into the land after a career in politics. He acquired the neighbouring lot in 2008 for $342,000, bringing the total holding to 970 hectares.
But the presence of coal seam gas in the area sparked a conflict of interests for Joyce who must strike a balance between anti coal seam gas farmers in his electorate and the mining interests of the coalition.
The marginal grazing land is close to coal seam gas exploration fields in the Pilliga.
Eastern Star gas started exploration there in 2002 and has plans for 1100 gas wells, according to The Sydney Morning Herald.
In October 2007, Eastern Star Gas appointed former Nationals leader and deputy prime minister John Anderson as its chairman – the same man who is now working as campaign manager for Joyce.
But in 2011 Joyce denied knowing the company had a petroleum exploration licence over his properties.
Joyce told The Sydney Morning Herald he wants no part in the boom.
“I'm happy to sell it, it's for sale,” he said.
“If someone wants to take it off my hands and make a million dollars, go right ahead.”
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Barnaby Joyce to sell coal seam gas property

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New South Wales was home to nine of the 10 worst-performing postcodes for mortgage delinquencies over the June quarter, according to ratings agency Standard &amp; Poors.
Postcode 2315 in Port Stephens  – also home to Corlette, Fingal Bay, Gan Gan, Nelson Bay and Shoal Bay – had the highest delinquency rate on mortgages in the June quarter, according to the report, RMBS Performance Watch: Australia.
<table cellpadding="0" cellspacing="0" border="0" style="border: 0px solid #1a87e4; width: 470px;"><tbody>
<tr>
<td nowrap width="64" valign="bottom">
State
</td>
<td nowrap width="104" valign="bottom">
Suburb
</td>
<td nowrap width="64" valign="bottom">
Postcode
</td>
<td nowrap width="105" valign="bottom">
Loans in arrears
</td>
<td nowrap width="64" valign="bottom">
Loan count
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Corlette
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2315
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
7.12%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
371
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Berkshire Park
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2765
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
7.02%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
298
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Casuarina
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2487
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
6.77%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
313
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Eagle Vale
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2558
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
4.69%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
506
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Aberdare
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2325
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
4.28%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
602
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Blackwall
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2256
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
4.03%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
438
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Eastern Creek
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2766
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
4.00%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
474
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Annangrove
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2156
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
3.87%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
314
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
VIC
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Broadmeadows
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
3047
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
3.80%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
453
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Alpine
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2575
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
3.75%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
455
</td>
</tr>
</tbody></table>
Its rate of mortgage delinquencies more than 30 days overdue was 7.12% - more than five times the national average of 1.29%. That means roughly one in 14 mortgages are overdue in the postcode.
The area has historically featured strongly on the list of most mortgage delinquent suburbs.
In 2012 the area was identified by Fitch Ratings as being the most mortgage delinquent suburb though agents at the time blamed it on <a href="/news">starry eyed holiday makers</a> making poor investment choices.
It remained at the top of Fitch’s list <a href="https://www.propertyobserver.com.au/residential/nelson-bay-retains-most-delinquent-postcode-crown-but-surfers-paradise-drops-down-list-fitch/2013070162882">this year</a> as well.
The other eight NSW postcodes are a mixture of coastal areas and suburbs on the outskirts of Sydney.
Broadmeadows in Victoria came in at number nine.
Overall arrears declined from the previous quarter.
“The quarter-on-quarter decline may be attributed to the impact of lower interest rates and seasonal factors such as Christmas spending commonly associated with the Q1 arrears performance,” the report says.
Tasmania continued to record the highest level of mortgage arrears.
During quarter two, loans greater than 30 days in arrears in totalled 1.68% in Tasmania, 1.48% in New South Wales and 1.4% in Queensland.
The data is from residential mortgage-backed securities (RMBS) which are a means for lenders to raise funds by selling bundles of loans to investors. It involves a high proportion of non-bank originators and financial institutions and subprime and low-doc lenders.  
{yoogallery src=[images/stories/2013/08/aug26nel]}
The most recent mortgagee sale in postcode 2315 is a two bedroom unit at <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-nelson+bay-114171971">42/1A Tomaree Street Nelson Bay</a> (pictured above). After a 601 day marketing campaign which started at $355,000, it sold for $205,000 through Rebecca Dean from PRDnationwide.
The one bedroom unit at <a rel="listingName" href="https://www.realestate.com.au/property-unit-vic-dallas-114532887">4/18 King Street, Dallas, Vic 3047</a> (pictured below) is listed for mortgagee auction in the Broadmeadows postcode.
{yoogallery src=[images/stories/2013/08/aug26broad2]}
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NSW home to nine of 10 most mortgage delinquent postcodes

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First home buyers are delaying buying their first home, according to a survey by RAMS.
Just one in eight respondents to the First Home Buyers’ Pulse Check are seeking to purchase their first home or an investment property within the next three months even though three out of four agree it's a good time to buy.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/08/RAMS-aug-27-big.gif" rel="shadowbox"><img src="/images/stories/2013/08/RAMS-aug-27-small.gif"></a>
“Today results show more than 75% respondents believe now is a great time to buy with the majority of respondents increasingly motivated to enter the property market to stop paying rent, take advantage of the current low fixed and variable interest rates,” RAMS’ Sulicich said.
“However, now it appears first home buyers are more cautious, taking a ‘wait and see approach’ to purchasing. Many first home buyer respondents still feel buying a home is out of reach due to challenges of saving for a home loan deposit and finding a home in the right location. Results also indicate a fear of unemployment, uncertainty around future earnings and a lack of housing supply are key concerns for this market,” he said.
The typical first home buyer has changed somewhat.
Survey results found a third of first home buyers are now more likely to be aged over 36, have a household income between $50 000 - $100,000 and 72% live in capital cities.
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First-home buyers delaying purchase: RAMS 

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The Gold Coast looks to be on the verge of a recovery, according to Australian Property Monitors' latest housing market report.
"The Gold Coast market is showing positive signs of reactivation, following a lengthy period of subdued buyer activity," the report says.
"Although the median house price fell marginally by 0.3% over the June quarter, house prices have risen by 2.1% over the first half of 2013, and are up by 3.2% over the full year ending June."
 
<img height="322" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-15.gif" alt="apm-aug-26-chart-15">
 
 
<img height="307" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-16.gif" alt="apm-aug-26-chart-16">
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Gold Coast shows positive signs: APM

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Perth's median house price rose 3.2% over the June quarter - the greatest quarterly rise since December 2009, according to Australian Property Monitors.
Perth’s house prices have increased 7.5% over the 2013 financial year – the strongest performance of any capital city housing market, according to APM's latest housing market report.
"Perth’s median house price has now risen for 6 consecutive quarters, and is now at an all-time high of $584,487," the report says.
"The strength of the Western Australian economy is a key driver of the Perth housing market, evidenced by the lowest unemployment rate of any state, at 4.6 percent in July"
 
<img height="347" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-7.gif" alt="apm-aug-26-chart-7">
 
<img height="345" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-8.gif" alt="apm-aug-26-chart-8">
 
<img height="379" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-9.gif" alt="apm-aug-26-chart-9">
 
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Perth house prices rise 3.2% over quarter - most since 2009

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There are signs of increased buyer activity in the subdued Adelaide housing market, according to APM's latest housing market report.
"Latest ABS home loan data for South Australia reports seasonally adjusted owner occupied loans up by 8.7% over the first half of 2013 compared to the same period last year," the report says.
"Adelaide median house prices have started to rise again, up by 0.8% over the June quarter, for an increase of 0.9 percent over the 2013 financial year.
<img alt="apm-aug-26-chart-4" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-4.gif" width="470" height="348">
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"The performance of the local economy however remains a concern, with the July unemployment rate for South Australia rising steeply to 7.1% - the highest of all the mainland states."
 
<img height="360" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-3.gif" alt="apm-aug-26-chart-3">
 
 
 
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Adelaide shows signs of increased activity: APM

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]

Alistair Walsh

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