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<p>Hobart houses are spending the longest time on the market - an average of 86 days - and are being discounted the most at an average of -7.5%, according to RP Data for the week ending August 25. </p>
<p>Hobart units are also spending the longest time on the market, at an average of 96 days and an average discount of -11.3%.</p>
<p>Sydney houses spend the shortest time on the market - an average of 30 days - but Darwin houses discount the least at -3.1%.</p>
<p><img height="316" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-7.gif" alt="rp-data-aug-26-chart-7"></p>
<p> </p>
<p><img height="217" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-8.gif" alt="rp-data-aug-26-chart-8"></p>
<p style="outline-style: none; outline-width: initial; outline-color: initial;">Time on market’ (TOM) is simply the average number of days between when a property is first listed for sale and the contract date.</p>
<p style="outline-style: none; outline-width: initial; outline-color: initial;">The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.</p>
<p style="outline-style: none; outline-width: initial; outline-color: initial;">The statistics are calculated across results received by rpdata over the past week and include properties transacted over the past four weeks.</p>
<p style="outline-style: none; outline-width: initial; outline-color: initial;">The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.</p>
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Hobart dwellings lead the way in vendor discounting: RP Data

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<p>Melbourne and Sydney are neck and neck for auction clearance rates for the week ending August 25, according to RP Data.</p>
<p>Both are slightly below 80% with Sydney at 79% and Melbourne at 77.5%.</p>
<p>Brisbane was the weakest performer at 38.4%.</p>
<p> </p>
<p> </p>
<p><img height="247" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-3.gif" alt="rp-data-aug-26-chart-3"></p>
<p><img height="215" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-4.gif" alt="rp-data-aug-26-chart-4"></p>
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Melbourne and Sydney clearance rates neck and neck: RP Data

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<p>Melbourne home prices have dropped back 0.4% for the week ending August 25, according to RP Data.</p>
<p>It's still up 0.2% for the month though.</p>
<p>Sydney dropped 0.2% for the week though it also is up 0.2% for the month.</p>
<p>Adelaide and Brisbane home prices both increased for the week, up 0.7% and 0.4% respectively.</p>
<p> </p>
<p> </p>
<p><img height="247" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-1.gif" alt="rp-data-aug-26-chart-1"></p>
<p><img height="194" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-2.gif" alt="rp-data-aug-26-chart-2"></p>
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Melbourne and Sydney home prices drop back for the week

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<p>Any future Labor government will legislate to preserve a 1750 kilometre rail corridor between Brisbane and Melbourne, Kevid Rudd announced today.</p>
<p>He has pledged $52 million over the next four years for the business case and market testing.</p>
<p>He says he will establish a high speed rail authority within six months to manage to the project.</p>
<p>They concede there isn't the money to buy the all the required land at the moment but it will enable a start.</p>
<p>"If you build it by 2035 you would spend less than Abbott's irresonsible paid parental leave scheme," Rudd told a press conference.</p>
<p>The high speed rail which will involve property resumptions could lead to property speculation and investment if it ever sees the light of day.</p>
<p>Tony Abbott says his first term focus will be on roads.</p>
<p>It would take just two hours and 44 minutes to travel between Sydney and Melbourne on the proposed line and then another two hours and 37 minutes to Brisbane. </p>
<p>It would cost an estimated $114 billion to build.</p>
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Kevin Rudd pushes plans for east coast high speed rail by 2035

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<p>Recent house price rises are not indicative of an Australia-wide price bubble, according to president of the Real Estate Institute of Australia, Peter Bushby.</p>
<p>"It's important to distinguish between a recovering housing market and an overheated market which is a precursor to a bubble," Bushby told <i>The Herald Sun</i>.</p>
<p>"Yes, some markets are performing well but this growth is not by any means Australia-wide.</p>
<p>"Hot spots like inner Sydney and Melbourne tell one type of story but try asking someone in Hobart if there's a property bubble -- they'd laugh you out of the room."</p>
<p>The comments come as those with inside access to the Reserve Bank of Australia suggest it’s <a href="/news">nervous</a> about stimulating a price bubble.</p>
<p>Last week Residex’s John Edwards said a price bubble is unlikely despite Sydney’s strong quarterly capital growth.</p>
<p>And Terry Ryder said Sydney's <a href="https://www.propertyobserver.com.au/hotspots/sydney-s-property-bubble-hysteria-is-unfounded-terry-ryder/2013081964362">property bubble hysteria is unfounded</a>.</p>
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Market in recovery not bubble: REIA

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<p>McCrae on the Mornington Peninsula and Ocean Grove and Torquay near the Great Ocean Road had the lowest clearance rates around Melbourne for 2013, according to REIV data.</p>
<p>They all had an auction clearance rate of just 30% for the year up until August 18.</p>
<p>It is less than half the Melbourne wide clearance rate of 70%.</p>
<p>Suburbs closer to Melbourne with the lowest clearance rates were Berwick in the outer south east, St Albans in the outer north west and Altona Meadows in the south west.</p>
<p>There were nine locations with clearance rates below 50%.</p>
<p> </p>
<table style="width: 443px;" border="0" cellspacing="0" cellpadding="0">
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</colgroup>
<tbody>
<tr>
<td width="138" height="20"><strong>Suburb</strong></td>
<td width="106"><strong>Total Auctioned</strong></td>
<td width="99"><strong>Sold at auction</strong></td>
<td width="100"><strong>% Clearance Rate</strong></td>
</tr>
<tr>
<td height="20">MCCRAE</td>
<td>23</td>
<td>7</td>
<td>30</td>
</tr>
<tr>
<td height="20">OCEAN GROVE</td>
<td>20</td>
<td>6</td>
<td>30</td>
</tr>
<tr>
<td height="20">TORQUAY</td>
<td>20</td>
<td>6</td>
<td>30</td>
</tr>
<tr>
<td width="138" height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
BERWICK</div>
</div>
</td>
<td width="106">22</td>
<td width="99">8</td>
<td width="100">36</td>
</tr>
<tr>
<td height="20">ST ALBANS</td>
<td>37</td>
<td>14</td>
<td>38</td>
</tr>
<tr>
<td height="20">ALTONA MEADOWS</td>
<td>30</td>
<td>14</td>
<td>47</td>
</tr>
<tr>
<td width="138" height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
FRANKSTON</div>
</div>
</td>
<td width="106">52</td>
<td width="99">25</td>
<td width="100">48</td>
</tr>
<tr>
<td height="20">SOUTHBANK</td>
<td>44</td>
<td>21</td>
<td>48</td>
</tr>
<tr>
<td height="20">MARIBYRNONG</td>
<td>86</td>
<td>42</td>
<td>49</td>
</tr>
<tr>
<td height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
FRANKSTON SOUTH</div>
</div>
</td>
<td>36</td>
<td>18</td>
<td>50</td>
</tr>
<tr>
<td width="138" height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
SEAFORD</div>
</div>
</td>
<td width="106">26</td>
<td width="99">13</td>
<td width="100">50</td>
</tr>
<tr>
<td height="20">BROADMEADOWS</td>
<td>24</td>
<td>12</td>
<td>50</td>
</tr>
<tr>
<td height="20">STRATHMORE</td>
<td>66</td>
<td>33</td>
<td>50</td>
</tr>
<tr>
<td width="138" height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
MORNINGTON</div>
</div>
</td>
<td width="106">39</td>
<td width="99">20</td>
<td width="100">51</td>
</tr>
<tr>
<td height="20">GREENVALE</td>
<td>37</td>
<td>19</td>
<td>51</td>
</tr>
<tr>
<td height="20">FAWKNER</td>
<td>37</td>
<td>19</td>
<td>51</td>
</tr>
<tr>
<td height="20">HADFIELD</td>
<td>29</td>
<td>15</td>
<td>52</td>
</tr>
<tr>
<td width="138" height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
WARRAGUL</div>
</div>
</td>
<td width="106">26</td>
<td width="99">14</td>
<td width="100">54</td>
</tr>
<tr>
<td width="138" height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
EDITHVALE</div>
</div>
</td>
<td width="106">28</td>
<td width="99">15</td>
<td width="100">54</td>
</tr>
<tr>
<td height="20">MELBOURNE</td>
<td>142</td>
<td>76</td>
<td>54</td>
</tr>
<tr>
<td height="20">PASCOE VALE</td>
<td>112</td>
<td>60</td>
<td>54</td>
</tr>
<tr>
<td height="20">SOUTH KINGSVILLE</td>
<td>22</td>
<td>12</td>
<td>55</td>
</tr>
<tr>
<td height="20">MOOROOLBARK</td>
<td>20</td>
<td>11</td>
<td>55</td>
</tr>
<tr>
<td height="20">SOUTH MORANG</td>
<td>44</td>
<td>24</td>
<td>55</td>
</tr>
<tr>
<td height="20">ALTONA NORTH</td>
<td>45</td>
<td>25</td>
<td>56</td>
</tr>
</tbody>
</table>
<p>Source REIV</p>
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Berwick, St Albans and Altona Meadows have lowest clearance rates in Melbourne: REIV

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<p>Granny-flats have renewed interest given recent law changes in WA, but are they really a good idea for investors?</p>
<p>Here are the top four reasons for and against granny-flats:</p>
<p><b>For</b></p>
<p><b>Increase your property’s rental</b> – adding a granny-flat can add a significant amount of rental income onto an investment property. It means you’ll get two income streams from a single lot.</p>
<p><b>Turn a negatively geared property into a positively geared property</b> – This extra income can turn a negatively geared property into a positively geared one. It may mean you can stop claiming deductions but at least you’re earning some cash.</p>
<p><b>Many tenants prefer them to apartments – </b>granny-flats allow tenants access to a back-yard, which means they’re often pet friendly and utilities are often included in the rent due to the complications of separate metering.</p>
<p><b>Always have an income from the property </b>– If one tenant vacates then you’ll always have the other to see you through the vacant period. It’s not a lot of money but it keeps the cashflow going.</p>
<p> </p>
<p><b>Against</b></p>
<p><b>Reduced rent on the main house </b>– Tenants will demand a lower rent on the main house if they are forced to live with other tenants in their back yard.</p>
<p><b>Longer vacancy periods – </b>Even with a reduced rent there is often a longer wait on finding tenants on a house with a granny-flat. Many people simple won’t do it due to concerns about neighbour disputes and loss of privacy.</p>
<p><b>It may not add value to the house – </b>granny-flats can cost a lot to build – maybe in the vicinity of $100,000 but they don’t add that much to the house, if at all. Land and houses increase in value, but granny-flats don’t. And they’re not even that special any more in some suburbs, especially across Sydney that have had a surge in granny-flat activity. When it comes to resales granny-flats might reduce your buying interest to investors, with own occupiers taking their interest elsewhere.</p>
<p><b>They’re ugly – </b>They’re not very pretty things to look at. There’s no getting round the fact that granny-flats detract from the outlook of the property, which could diminish it’s value.</p>
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The four pros and four cons of building a granny-flat

<html><body>
<p>The self-managed super fund “sharks are circling”, according to Tom Garcia, chief executive of the Australian Institute of Superannuation Trustees.</p>
<p>Get rich quick schemes from unregulated property spruikers, as well as the ability to borrow in SMSFs was creating a dangerous situation which could lead to a failure in the financial sector, Garcia told <i>The Weekend Australian.</i></p>
<p>"Someone's probably working on it now,” he said.</p>
<p>The $500 billion SMSF sector now represents one third of the superannuation industry in Australia but Garcia says many of those investors simply don’t understand the risk they are getting into and fail to diversify.</p>
<p>"Most people don't know their ability to cope with risk until they experience an adverse outcome, by which time it may be too late,” he said.</p>
<p>"It is not well understood that an SMSF trustee has a fiduciary duty to act in their own best interests to provide for their retirement.</p>
<p>"By law, SMSFs are required to have a documented investment strategy.</p>
<p>"While it is up to trustees to determine this strategy, it's generally agreed that a diversified investment portfolio will provide the best outcome, both in terms of risk and return. We would caution against an SMSF being invested in a single asset class such as domestic property.</p>
<p>"SMSF trustees need to be aware that in pension phase there is a legislated level on income that must be drawn down that increases as they age.</p>
<p>"A risk of being heavily weighted into a single, relatively illiquid asset like domestic property is a possible forced sale due to pension income requirements which could produce a lower capital return on the investment.</p>
<p>He says the dangers of SMSF schemes mean many investors will be stung and will have to rely heavily on the pension scheme.</p>
<p>"While we don't represent SMSFs, we recognise they have a legitimate role to play in our super system and it would be a problem for all taxpayers if SMSFs were to fail through bad investment advice, resulting in disappointed super investors having greater reliance on the age pension," he  said.</p>
<p>"If that happened, more retirees will be dependent on the age pension and more people will lose confidence in the system, as we saw with the collapse of Storm Financial and Westpoint.”</p>
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SMSF sharks are circling property investors: AIST

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<p>Economic commentator David Bassanese says the Reserve Bank of Australia policies will likely push up property prices, possibly into a "mini-bubble" but not into any sort of major boom. </p>
<p>“Although the RBA naturally does not want to see a speculative bubble develop, it probably concedes that further nearer-term house price gains will help the economy’s transition – by improving household wealth and consumer spending propensity and making it more profitable for developers to build new homes,” Bassanese wrote in the <i>Australian Financial Review</i>.</p>
<p>“That said, further strong house price gains are not assured. Unlike in 2009-10, for example, one major headwind in the coming year should be higher unemployment. After all, the key reason interest rates are so low is because the economy is growing at a below-trend pace, and even the Rudd government recently conceded in its pre-election economic statement that the unemployment rate was likely to rise from 5.7% to 6.25% by June 2014.</p>
<p>Bassanese says the property market is strengthening with clearance rates up in Sydney and Melbourne up as well as increased lending to investors.</p>
<p>He says despite recent house price gains the trend will continue, driven by cheap home loans.</p>
<p>“Despite concerns about high Australian house prices, it may surprise some to know that the share of household disposable income required to meet monthly mortgage repayments on an average-priced Australian home is lower than its 20-year average,” he wrote.</p>
<p>“That’s because interest rates are very low and house prices – at least over the past decade – have only broadly matched growth in household income.”</p>
<p>He says recent RBA statements suggest a leaning towards another rate cut which presents the risk of a mini bubble.</p>
<p>“There’s a modest risk that a mini-bubble in house prices could reappear if the RBA keeps interest rates low enough for long enough to support the economy.”</p>
<p>“With mining investment turning down and prospects for non-mining business investment – such as office construction – still quite subdued, the RBA is counting on a decent upturn in the housing sector to keep the economy afloat over the next year or so.”</p>
<p>But he says if house prices do rise it’s more in the nature of a cyclical trend rather than any sort of boom.</p>
<p>“Doomsayers will warn of a property bust as and when prices edge lower, and spruikers will talk of a new boom whenever prices rise. But the reality is that house prices are likely to continue to move broadly in line with household income (that is, 3 to 4 per cent a year), albeit with modest cycles around this trend in line with cyclical shifts in interest rates and unemployment.”</p>
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Modest risk of mini-bubble in house prices, but gains likely to be in line with household income: David Bassanese

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<p>A heritage listed freestanding building in Melbourne’s Chinatown has sold after auction for $2.7 million, according to industry sources.</p>
<p>The last freestanding commercial building like this to come to auction in Chinatown was in 2003. This latest auction attracted 120 people and six bidders – four Chinese, one Malaysian and one local. The local ended up buying the property but has not disclosed their intentions.</p>
<p>It passed in at $2.35 million.</p>
<p>“We’re starting to see non property people consider the purchase of commercial investments in the CBD as a genuine alternative to cash deposits, the volatile share market and straight residential investment, which is driving competition for assets when they come to the market,” CBRE agent Josh Rutman says.</p>
<p>The building, at <a href="https://www.realestate.com.au/property-warehouse-vic-melbourne-114263463">11 Heffernan Lane</a> (pictured above) was built in 1891 for solicitor M Mornane as a four level brick warehouse.</p>
<p><img style="display: block; margin-left: auto; margin-right: auto;" alt="chinatown_aug_28" height="600" width="386" src="/images/stories/2013/08/chinatown_aug_28.jpg"></p>
<p>It was then occupied by the Wing Ching café in 1892 run by Ah Gee.</p>
<p>Between 1900 and 1915 it was occupied by Quon Che On Café and then Chung Wah Café – which at one point was the only remaining Chinese café in the street. According to historian Weston Bate, it “helped to wean Melburnians from European cuisine”.</p>
<p>The upper floors were used as warehouse space and the still visible gantry beam was used for hoisting goods up.</p>
<p>The building was damaged by a fire in 2010 but has been fully refurbished.</p>
<p>In October 2012 it was taken to market with an asking price of $3.3 million, though it was marketed directly by the owner in a different campaign.</p>
<p>It’s next door to the New Kum Den café.</p>
<p>The lane was named in 1857 after Rolly Heffernan, owner of the Melbourne Hotel in Lonsdale Street.</p>
<p>It was home to several Chinese restaurants in the early 1900s.</p>
<p>The building has an existing liquor license and a potential income of $200,000 per annum.</p>
<p>The fully restored building was marketed to suit retail, commercial and residential uses. It is on a 113 square metre lot.</p>
<p>It was sold by Josh Rutman from CBRE.</p>
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Melbourne Chinatown building sells for $2.7 million

<p>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.</p>

<p>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;</p>

<p>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;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>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;</p>

<p>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;</p>

<p>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.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>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;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>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.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“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;</p>

<p>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.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>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;</p>

<p>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;</p>

<p>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”.</p>

<p>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;</p>


Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<p><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.</p>

<p>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.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“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.”</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“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.”</p>

<p><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" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“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.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“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.”</p>

<p>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.</p>

<p>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.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>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.</p>

<p>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.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“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.</p>

<p>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.</p>

<p>&nbsp;</p>


Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

<p>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.</p>

<p>The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>“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.”</p>

<p><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" /></p>

<p>GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.</p>

<p>“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.”</p>

<p>Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.</p>

<p>“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.</p>

<p><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" /></p>

<p>&nbsp;</p>

<p>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.</p>

<p>Green praised local policy settings.</p>

<p>“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.”</p>

<p>One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.</p>

<p>“The way we will be able to achieve economies of scale is through size,” Green added.</p>


One Living enters Sydney's new apartment market with Northern Beaches site acquisition

<p>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.</p>

<p>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.</p>

<p>Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be</p>

<p data-end="683" data-start="511">"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.</p>

<p data-end="882" data-start="690">"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."</p>

<p data-end="882" data-start="690">[smartcode_project:default project_id=134646 project_image_fid=6109]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6110]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6116]</p>

<p data-end="247" data-is-last-node="" data-is-only-node="" data-start="0">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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=134646]</p>


Alistair Walsh

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