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A Hong Kong resort developer has bought Noosa Springs Golf Resort, an 18-hole golf course and prestige residential development in Queensland, for $15 million.
Golden Horse ????(??)???? has acquired the golf course, club-house, associated businesses and 23 vacant residential lots in the 103 hectare community developed by the Starkey family since 1997.
They entered into contract to buy it from Noosa father and son Alan and Phil Starkey in mid-July.
At the time Phil Starkey said the buyers were seeking to expand its resort development internationally having already made investments in Singapore, Japan and Thailand.
Golden Horse also owns a 14 square kilometres resort development in Guangzhou which includes two 27-hole championship golf courses.
Starkey's StarCo Group first developed the community in 1997 and. He took it to market in October 2011.
Golf course architect Graham Papworth designed the 72-par golf course.
<a target="_blank" href="https://www.noosasprings.com.au/">Noosa Springs</a> also includes a day spa, a restaurant, a conferencing and function venue, a boutique fitness centre and resort accommodation.
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Hong Kong resort developer ????(??)???? pays $15 million for Noosa golf course

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Gold Coast apartment supply has reached its lowest level in a decade with no new stock added to the market in the June quarter while sales were steady, according to Colliers International.
It found sales volumes have continued to be strong and the supply of new apartments has dropped to around 930 apartments.
The best performing region in the area was the North Shore Precinct, with a total of 58 sales across eight projects, including 32 sales in Etesian at Harbour Quays.
The sales rate in the Southport/Labrador precinct lifted 44% to an 18 month high, with 23 unconditional sales across six projects.
In Surfers Paradise, the sales rate lifted for the third consecutive quarter to record 46 sales across four projects with 22 sales in Soul, 13 in the Hilton Orchid Tower and 10 sales in the Hilton Boulevard Tower.
New apartment sales on the Gold and Tweed Coasts fell slightly over the June quarter after rising for the previous five consecutive quarters. But overall volumes were significantly stronger over the first half of the year compared to the same period last year.
There were 166 sales during the June quarter, putting it ahead of the same period last year by 120 sales or 49%. Colliers says the market is on track to have a significantly stronger year than 2012.
The residential market on the Gold Coast has now turned around and is on the way back up, according to Tony Holland, Colliers International Residential Director.
“The first signal that the market was improving was a rise in volumes, which was first evident in the March quarter of last year,” he said.
“Sales volumes have continued to increase over the course of 2012 and over the first quarter of this year, and while this quarter has seen a slight fall, this is due to the lack of availability of stock rather than a lack of interest from buyers.”
There were are two or three new apartment projects that likely to be launched off the plan in the next six months with more due to follow after mid-2014.
But he says based on the current sales rate, the remaining new apartment stock could be absorbed within 17 months leading to a serious undersupply, particularly in the low rise sector, until the new projects are launched.
“Buyers are identifying that the fundamentals of the Gold Coast market are strong, and this increasing buyer demand, coupled with an undersupply, will lead to growth in prices over time,” Holland says.
“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.
“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.”
It found seven apartment projects across the Gold and Tweed Coasts sold out during the June quarter.
There are now just 28 projects remaining in Colliers’ survey going into the second half of 2013, the lowest number of projects recorded by the group since 2001.
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Gold Coast apartment supply reaches 10 year low: Colliers

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East Perth had the greatest increase in notional income per person per household between 2006 and 2011, according to demographer and News Limited columnist Bernard Salt.
It's thereby been identified as one of Australia's top suburbs generating interest among key demographic drivers, including empty nesters, young professionals and DINKs (double income, no kids).
Salt says its a pointer to an increased ability among its residents to take out a mortgage – and an indication that a suburb is about to take off.
In fact Perth was home to the top three suburbs with increasing income, according to his piece published in The Australian.
“Western Australia's mining boom created an income-earning capacity and attracted an incoming or an evolving demographic that wanted an inner-city lifestyle on the edges of the CBD in places such as East Perth, Rivervale and Kings Park,” Salt writes.
Sydney’s Waterloo and Brisbane’s Murarrie had the next highest changes in earning power.
The top five suburbs are all located within 5 kilometres of the CBD and have a number of new apartments or inner-city townhouse redevelopments which are attracting a new demographic.
Salt found the average household size in the top four postcodes is between 1.7 and 2.2 people - below the Australian average of 2.6 people. In Murarrie it’s 2.7 people, which indicates there will be a further transition towards smaller households and apartments, according to Salt.
“Those postcodes that are taking off are located in the capital city of a state that has prospered (Perth) and where the property offering genuinely meets the aspirations of a rising demographic force,” Salt writes.
“In places such as Kings Park, for example, this probably includes fly-in, fly-out miners as well as the full range of advisers and technicians and financiers and incoming expats associated with mining.
“Then there is what I call the spillover effect: the gentrification of Brisbane's Cannon Hill spills into neighbouring Murarrie. Inner-city transformation without large-scale redevelopment projects (as in Waterloo for example) applies best to places where the housing stock is mixed and where there is an increasingly vibrant local urban environment.
“This includes places such as North and South Melbourne, Sydney's St Peters and Dulwich Hill and Brisbane's Albion.”
In Melbourne, the income per person increased most significantly in the central postcodes.
At the national level the average growth in income was 20%.
<a href="/news">East Perth</a> – 65%
<a href="/news">Rivervale</a> – 58%
<a href="/news">Kings Park</a> – 55%
<a href="/news">Waterloo</a> – 53%
<a href="/news">Murarrie</a> – 49%
<a href="/news">Officer</a> – 48%
<a href="/news">Athol Park</a> – 48%
<a href="/news">Cannon Hill</a> – 44%
<a href="/news">Collingwood</a> – 44%
<a href="/news">Dawes Point</a> – 44%%
<a href="/news">St Peters</a> – 41%
<a href="/news">North Melbourne</a> – 40%
<a href="/news">South Melbourne</a> – 40%
 
Do your own research
Don't wait for Bernard Salt to do the research, start looking at ABS Census date yourself using our <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/the-property-observer-guide-to-abs-census-data-research-for-smart-property-investors/2013081664267?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">guide to Census data for property investors</a>.
 
Image courtesy of  <a target="_blank" href="https://www.flickr.com/photos/aang14/">Andru1308/flickr</a>.
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Rising incomes pointing to 13 emerging suburbs for investment potential: Bernard Salt

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Investment bank UBS says the Australian housing market is not at risk of becoming a bubble and is instead warming up.
“The bottom line is that Australian housing is clearly warming up, led by Sydney, but nationally remains a fair distance from anything resembling a bubble,” economist Scott Haslem told his clients this week which were reported by The Australian.
“If the Reserve Bank deemed it appropriate to reduce the cash rate further, it is almost certain this would be a response to weaker labour market and an unemployment rate rising through 6%. This is unlikely to be an environment we would need to be concerned about rapidly rising house prices, or a property bubble, in Australia.”
The comments came as there has been a surge in auction clearance rates, particularly in Sydney, and house price rises following record low rate cuts by the Reserve Bank of Australia.
Haslem says Sydney’s auction clearance rate being at a three year high put it at the most risk of over-heating.
UBS says home prices are rising at rate of 8% per annum this year while auction clearance rates in Sydney and Melbourne are at more than 70%, up from a 54% average last year.
On Tuesday UBS increased its residential house price forecasts to 10% for this year and 5% for next year, up from 7% and 3%, but said an increased unemployment rate would cool the market.
Most capital city house prices have not yet reached their 2010 peaks with Haslem noting Sydney was the only capital city noticeably above its peak.
 
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Australian property warming up but no bubble: UBS Scott Haslem

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Potential first home buyers are eyeing off the market as rents approach the cost of repaying a mortgage, according to Stockland boss Mark Steinert.
He says interest is strongest in metropolitan Sydney and in Perth.
"The main thing we're seeing now is at the affordable end, a first-home buyer, particularly with the state grants that are focused on new construction both on the eastern seaboard and now Western Australia, that their repayments on the mortgage aren't that different to rent," Steinert told Business Spectator.
Stockland’s Willowdale development in East Leppington in Sydney had more than 1000 pre-registrations. First home buyers form a strong base for Stockland.
“There’s a very significant employment base over in Parramatta, Liverpool and Campbelltown. That is actually a big part of the economic engine of Sydney,” he says.
But he says while they are coming back to the market the looming election is keeping them cautious.
“There has been a lag response to first home buyer stimulus,” Steinert told The Australian Financial Review last week.
“Sentiment remains an issue and buyers are still a bit more cautious about taking on leverage.”
He says low interest rates now mean home loan repayments are lower than rent payment which makes buying more attractive for first-home buyers and those seeking to upgrade.
“We are starting to see constructive signs of that,” he said.
First-home buyer sentiment is strongest in the Sydney metro region and in Western Australia, driven by population growth from migrants who may already own homes overseas but are still recognised as first-home buyers.
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Sydney strongest for FHB followed by Perth: Stockland

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Darren Moffatt, founder and chief executive of Housenet.com.au, is a property and social media enthusiast. He has prepared six steps to successfully invest in property.
So you want to build a real estate empire. Nice, ambition is good. But how to property invest and where to start?
There’s a mountain of information out there on the web about buying investment property. It’s one area where too much information can actually hinder rather than help. For first time investors in particular, it can be bewildering.  So we set ourselves a challenge: what are the bare minimum steps anyone needs for successful property investing?
This post is designed to both help first time investors and spark a discussion among seasoned pros: what are the absolute, essential property investing steps required for success?
I got it down to six, but maybe you can do better and distill it even further. Is this the definitive list? Leave a comment and have your say. OK here goes …
1. Assess your readiness.
Are you ready to invest in property? Are you earning enough income, and do you have enough cash or equity in your existing home to fund the purchase of property? <a target="_blank" href="https://www.housenet.com.au/mortgage/calculator/" title="Mortgage Calculator ">Establishing your borrowing capacity is a good first step</a>. Even if the answer is yes, you may still not be ready to invest. You should also consider other lifestyle questions such as your job security, family circumstances, and current debt load. Just because someone says you CAN do it, doesn’t mean you should.
2. Decide your objective.
Why do you want to buy an investment property anyway? Lots of people don’t actually know, they’ve just heard it’s an easy way to build wealth. Well guess what? It’s not as easy as it used to be. You need to be clear about what you’re trying to achieve. Here’s a list of common objectives investors have when buying a property:
<ul>
<li>Capital growth (potential increases in the capital value of the property over time)</li>
<li>Rental yield (the rental return expressed as a percentage of the property value)</li>
<li>Tax minimisation (reducing personal tax via negative gearing in property)</li>
<li>Investment diversification (investing in different markets or asset classes)</li>
</ul>
Which one applies to you? Maybe it’s a combination, but successful investors normally have one clear objective/vision for each purchase. <a target="_blank" href="https://www.housenet.com.au/blog/category/9/property-investment-development/view_/" title="Property investing blogs">These blogs</a> might help, and you may need to get professional advice at this point to work this out.
3. Research, learn &amp; network.
It’s important to do your homework and understand how property investing works. There are some excellent sites out there like <a target="_blank" href="https://realestatetalk.com.au/" title="Real Estate Talk">Kevin Turner’s Real Estate Talk</a> and <a target="_blank" href="https://propertyupdate.com.au/" title="Michael Yardney">Michael Yardney’s Property Update</a> that will give you plenty of resources to learn from.
There are also property forums and <a target="_blank" href="https://www.housenet.com.au/" title="Housenet">niche social networking sites like Housenet</a> where you can rub shoulders with professional investors and real estate experts. As in life, who you know is just as important as what you know, when learning property investing.  Housenet has many elite investors &amp; property advisers like <a target="_blank" href="https://www.housenet.com.au/ChrisGrayEmpire/" title="Chris Gray Your Empire">Chris Gray</a>, <a target="_blank" href="https://www.housenet.com.au/ben-kingsley-1180/" title="Ben Kingsley">Ben Kingsley</a>, <a target="_blank" href="https://www.housenet.com.au/michael-sloan-1801/" title="Michael Sloan">Michael Sloan</a> &amp; <a target="_blank" href="https://www.housenet.com.au/jane-slack-smith-158/" title="Jane Slack Smith">Jane Slack-Smith</a> who you can approach online.
4. Build your team of advisers.
Don’t walk alone. Investment property can get complex pretty fast, and almost always involves tax, financial planning, mortgage finance, and insurance elements.  Therefore, once you feel you’ve done enough research, start building a team of trusted advisers. These might include:
<ul>
<li>Accountant</li>
<li>Mortgage broker</li>
<li>Buyer’s agent</li>
<li>Solicitor/conveyancer</li>
<li>Financial planner</li>
</ul>
You can find plenty of good people in this<a target="_blank" href="https://www.housenet.com.au/user/browse/" title="Property industry directory"> property industry directory.</a>
5. Set criteria, search real estate &amp; buy the property.
The final step for successful property investing is to set a firm criteria for your purchase. Be clear about where to buy, what price range, what type of property, brand new or pre-existing etc. This criteria should meet the objective you set in step 2. Scatterguns don’t work well in property.
Most people still use the big portals like RealEstate.com.au &amp; Domain.com.au to search, but increasingly there are sites that ‘aggregate’ their listings in one place and offer extra useful data on each listing. At <a target="_blank" href="https://www.housenet.com.au/" title="Housenet">Housenet</a>, we partnered with Ripehouse to bring our members incredible FREE data on properties for sale.
<a target="_blank" href="https://www.housenet.com.au/" title="Join Housenet">When you join Housenet</a>, you can see how long each property has been on the market, when and how often the asking price has changed, and even price discounting.
6. Find a tenant!
You’re not really a  landlord until you have a tenant, but where to find one? Most investors use a real estate agent to manage their property, and you can <a href="https://www.housenet.com.au/user/browse/">find plenty of agents HERE</a>.
If you want to give it a go yourself, you’ll need to advertise for a tenant. You can do this on sites like Gumtree, Rent.com.au or place a a free listing in <a href="https://www.housenet.com.au/advancedmarketplace/">the Housenet classifieds</a>. Don’t forget to check their references, and good luck with your landlord dreams!
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Six essential steps for investing in property with success: Housenet's Darren Moffat 

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National Australia Bank’s chief economist Alan Oster has warned there will be a rise in mortgage delinquencies when interest rates inevitably return to normal levels in three to four years.
He says buyers tempted by historically low interest rates now will be struggling in a few years when they bounce back.
"People need to consider the stability of their employment over the next three to four years before taking out a new mortgage," Oster told The Australian.
“The subprime mortgage collapse in the US was triggered by increasing interest rates.”
The comments came after the Reserve Bank of Australia cut interest rates by 25-basis-points last Tuesday and banks passed the cuts on with rates of between 5% and 6%.
But he said he didn’t foresee interest rates rising again until 2015.
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Residential mortgage delinquencies to rise post-2016: NAB

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Buying in a so-called bulletproof suburb doesn’t guarantee that investors won’t be unscathed by property market fluctuations.
Despite the enthusiasm of property experts and analysts, Property Observer notes it's still possible to lose money in suburbs which on paper seem faultless.
Many buyers in Surry Hills, touted by the latest Australian Property Investor magazine as one of Australia's premier “bulletproof” suburbs, have lost money on their investments in the last few years.
According to Residex the suburb median has increased in value each calendar year for the past 10 years.
The median unit price is now $563,000, having grown an average of 5.2% each year for the past 10 years, according to Residex. The median rent is $615 a week and the gross rental yield is 5.6%.
But Property Observer has skimmed sales and found a selection of properties in Surry Hills where buyers made a loss on their supposedly bulletproof investment during the past decade.
In most cases it’s not that the properties were genuinely poor homes – as quite often the subsequent buyers made a healthy profit on the properties. But poor investment timing meant they perhaps chose the one period when the property went down in value.
Another common trait was people buying in new developments at an inflated price, especially if they bought in the Monument development on Oxford Street from Multiplex. There were multiple buyers reselling a year or two later at a significant loss. 
And it’s not just limited to the upper end of the market, with some properties at the lower end losing their buyers money.
Though units were more likely to lose money, several classic Surry Hills terraces made it on the list as well.
The Pelican Street development, The Monument (pictured below), is now a monument to lost dollars.  The 191-apartment building sold a number of units in the mid-2000s to late 2010s which have not resold well.
<img alt="monument-aug-13-two" height="313" width="470" src="/images/stories/2013/08/monument-aug-13-two.jpg">
Unit 403 was sold for the first time at a hefty $1.175 million in 2005. But in September 2011 it resold for $975,000 – a loss of $200,000 for its vendor.
Unit 413 initially sold for $866,000 in 2005 and then resold in March 2008 for $755,000 – a loss of $111,000. But it did bounce back, it then sold again in September 2012 for $930,000.
Waiting until 2012 did seem to mitigate the loss for a few investors but they still lost money.
Unit 1513 first sold for $1.345 million in 2007 and then at $1.295 million in 2012 –a comparatively small loss of $50,000.
And unit 1313 first sold for $875,000 in 2007 and then at $870,000 in 2012 – a loss of just $5,000.
And the Monument (pictured below) loss list goes on.
<img alt="monument-aug-13-flicker" height="264" width="470" src="/images/stories/2013/08/monument-aug-13-flicker.jpg">
Apartments in the St Margaret’s development on Bourke Street weren’t a guaranteed recipe of millions either.
Unit 39 in the 1930s former hospital building sold in 2007 for $1.25 million. In 2012 the same apartment sold for $1.21 million yielding a $40,000 loss.
Unit 309 in the same building first sold in 2005 for $615,000. Two years later in 2007 it sold for $577,000, a loss of $38,000. The next buyer did okay selling the property for $710,000 in 2012.
And unit 112 lost $20,000 from 2005 to 2009 after initially selling for $480,000.
The most dramatic in the complex was unit 1501, which first sold in 2006 for $3 million. It later traded at a profit for $4.01 million in 2011 - a profit of $1.01 million. But the bonanza didn't last long with it later selling for $3.825 million in May this year - a loss of $85,000.
 
<hr class="system-pagebreak">
Several other prestige apartments in Surry Hills also lost their owners money.
Unit 401/148 Goulburn Street first sold for $1.5 million in 2002. In 2012 it sold again for $1.2 million – a loss of $300,000.
And unit 6/56 Foster Street sold for $2.53 million in 2009 – making the vendor a $400,000 profit on their one year investment. The buyer didn’t have the same fortune, selling in 2012 for $2.5 million, losing $30,000 over three years.
Though less likely to haemorrhage money, some Surry Hills terraces did prove to be poor investment choices.
The traditionally sought after terraces make up about 30% of the dwellings in Surry Hills, according to the Australian Bureau of Statistics.
The corner terrace at 17 Kendall Street was one of the most recent cases in our list. The charming two bedroom home sold for $1.012 million in 2010. But in March this year it sold at auction for just $950,000 yielding a loss of $62,000 for the hapless vendor.
It has been listed for rent at $825 per week suggesting the new owner picked it up at a yield of 4.52%.
Another terrace sale with unfortunate timing is the 1890s-built <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-113643943?idir=1&amp;ret=realestate/agent/bresicwhitney+estate+agents+darlinghurst/bzmdar" target="_blank">115 Goodlet Street</a> (pictured below). In 2007 it sold for $809,000 but in 2009 in sold for just $740,000 – a loss of $69,000. One wonders if that vendor attended the recent May 25 auction where it sold for $901,000.
<img src="/images/stories/2013/08/surry_hills_one.jpg" width="470" height="353" alt="surry_hills_one">
And the lovely corner terrace at 418 Riley Street lost money during the financial crisis. It sold in 2007 for $1.027 million but then sold for just $1 million two years later. It went back on the rise though, in 2011 it sold for $1.35 million.
And it wasn’t just limited to prestige homes. At the lower end of the market unit 58/397 Bourke Street proved to be a poor investment. In 2008 it sold for $250,000 but then four years later it sold for $210,000 – a loss of $40,000.
Although these sales just show cases where investments went backwards there are countless examples of properties which stayed stagnant – effectively not moving in price for many years.
The costs of paying off a mortgage, the costs of selling, the cost of outgoings and the cost of lost opportunity means buyers can be left hurting from stale investments.
Though certain suburbs might seem bulletproof buyers still need to do their research or risk a fatal investment.
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Surry Hills property investors bleeding losses despite "bulletproof suburb" status

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A heritage listed former bank on Melbourne’s Camberwell Junction has been listed for auction with a newly signed 10 year lease.
The 1885-built church-like structure is the former English, Scottish and Australian Bank and current Hawthorn East premises of the 80-seat Meat &amp; Wine Co restaurant.
It currently earns $166,956 per year with fixed 4% annual rental growth.
<a target="_blank" href="https://www.realcommercial.com.au/property-retail-vic-camberwell-500820651">The brick building</a> is somewhat awkwardly wedged in to the<a target="_blank" href="https://www.propertyobserver.com.au/victoria/fkp-completes-construction-of-delayed-aerial-apartment-project-in-camberwell/2012110757688"> newly built Aerial residential development</a>, retained as a concession to the rich heritage of the area.
It was the subject of a $500,000 renewal in 2009 during the construction of Aerial.
In 2007 planning minister Justin Madden intervened in the VCAT case surrounding the $150 million development to push it through following strong community opposition <a target="_blank" href="https://www.propertyobserver.com.au/developments/completion-of-fkps-apartment-project-aerial-in-camberwell-junction-delayed/2012062255229">though it still suffered from construction delays</a>.
It was designed in the picturesque Gothic style by architects William Wardell and W L Vernon. Wardell was responsible for a number of buildings around Melbourne.
According to Heritage Victoria the branch was responsible for facilitating much of the suburban building boom in the area after the extension of the railway line from Hawthorn in 1882.
The sale includes nine secure car parks.
The Aerial development, by Queensland developer FKP, has 144 apartments and nine shops.
It goes to auction on Friday 23 August through Savills agents Nick Peden and Clinton Baxter.
It is expected to sell in the high $2 million range. 
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Camberwell Junction heritage bank restaurant premises listed for auction

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Commonwealth Bank chief executive Ian Narev says he doesn’t lose any sleep over concerns about a possible property bubble in Australia following record low interest rates.
He told a Sydney conference yesterday he doesn’t worry about the consequences of the Reserve Bank’s current policies but says lenders must be "very, very careful about just making hay when the sun shines" to avoid more loans going bad.
“I am absolutely confident that all direct and indirect consequences for the property market that may flow from a change in interest rates are absolutely thought through by the governor and his board,” Narev told the Aussie Home Loans three-day biannual sales conference in Sydney.
“I do not lose a moment’s sleep thinking about that. They think very carefully about a range of issues, they are absolutely aware of what effects different interest rate settings might have on the economy and I’ve got a lot of confidence that they... have a good perspective about that.
He says while people enjoy a lower interest rate environment the bank is aware of risks.
“It's always nice to pay lower interest rates than higher, but interest rates in an economy on a downward cycle are there for a reason.
"History will tell you that when the interest rate cycle starts to rise again… (banks must ensure) people on standard variable rates are going to be able to pay what they need to pay. So sometimes we're seen as the party poopers, but actually it's just that we need to be driving these things for the long term."
Narev says is often questioned by overseas investors on Australia's high house prices compared with incomes, but says banks here could weather double the level of unemployment and a 40% fall in prices.
Meanwhile the National Australia Bank has offered home owners <a target="_blank" href="https://www.propertyobserver.com.au/finance/nab-offers-%241000-cash-to-secure-new-borrowers/2013081264103">$1000 if they switch mortgages from rival banks</a> amid renewed aggressive competition between the banks.
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Commbank's Ian Narev loses no sleep over Australian property bubble risk

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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