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A 125-year old warehouse conversion in a Melbourne laneway, the former home to De Lacy restaurant, has been listed for vacant possession sale.
One of four properties historically known as Marks’ Warehouses, <a target="_blank" href="https://www.commercialrealestate.com.au/property/2010402137/for-sale/vic/melbourne/development-land/offices/retail">29 Niagara Lane</a> was built in the Flemish Medieval style designed by architect George De Lacy Evans.
The 1887-built building is best known as the De Lacey restaurant which ran for 22 years before closing in 2007. It was reopened in 2008 but has since closed again.
{yoogallery src=[images/stories/2013/05/may21niagara]}
Prior to this it operated as a prominent art gallery.
And before it began its life as a gallery it was the home of a cordial and spurious health product import business, as advertised in the image below.
<img alt="niagaramay21one" height="897" width="350" src="/images/stories/2013/05/niagaramay21one.jpg">
In 2006 The Age described the premises as “a classic Melbourne hidden gem oozing potential”.
Agent Peter Moore is marketing the property for use as a hospitality business, retail or showroom use, or for office or residential conversion, subject to council approval. It is zoned capital city 1.
It comes set up as a restaurant with cooking and bar facilities, a cool room, wine storage, a dishwasher and preparation and serving equipment.
The previous owner renovated the property to create a spacious entry, a central kitchen and a high clearance space between the entry and first-floor level.
The renovation included a restoration of the original building facades so the patina of the original building fabric has been retained.
It is one of four warehouses built in 1887 for Henry Marks by builder Daniel Sinclair, according to heritage documents.
“The first floor openings to the main facade are segmental arches, the second storey round arched,” according to heritage documents found in 1980. “In the Queen Anne Revival style, the parapeted gable ends are topped with finials.”
“Internally the floors are of Tasmanian Ironbark. The ceilings are timber-boarded and the floor to ceiling heights are seven metres.
“The buildings still retain their American barrel hoists. The lowest floor is a semi-basement, which allowed the ground floor to be at wagon tray level.”
All four warehouses are heritage listed.
The 98 square metre site has an internal space of 220 square metres.
It is being sold by Melbourne Commercial Group agent Peter Moore. The short notice listing goes to auction on May 31 with a price guide of around $1.8 million.
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awalsh-7Ub9EypybQ

Melbourne heritage laneway building listed for sale

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Development group Stockland will cut 80 jobs as the new chief executive, Mark Steinert, enacts his cost cutting focus, according to The Australian Financial Review.
It reports the $8.6 billion listed property group has cut gross overheads by 10% in the past year and is aiming for another 10% in 2014, with half of that coming from staffing costs and the remainder from better processes and a national approach to procurement.
The cuts follow an announcement by Steinert that cost-cutting would be a primary focus of his regime.
Steinert recently dropped the three ‘r’ focus on residential, retail and retirement, in favour of a focus on medium density residential and retail.
The <a href="https://www.propertyobserver.com.au/australian-capital-territory/stockland-executive-team-shake-up-as-tim-foster-and-mark-hunter-sacked/2013050861155" target="_blank">executive team at Stockland was also given a shakeup</a> recently with the group announcing the departure of chief financial officer, Tim Foster, and head of residential, Mark Hunter.
And Steinert said there was pain ahead for Stockland investors before a recovery from about 2016 onwards with another <a href="https://www.propertyobserver.com.au/residential/residential-recovery-underway-but-more-pain-for-stockland-as-%2449-million-write-down-revealed/2013051261300" target="_blank">$49 million worth of write-downs identified on previously impaired projects</a>.
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Stockland to shed 80 jobs

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Quest Serviced Apartments has appointed a new chief executive officer, hired from within the company.
Zed Sanjana, the general manager of the company since 2011, will be the new CEO.
The role of CEO had formerly been filled by executive chairman Paul Constantinou since he founded the business 25 years ago. He will continue as executive chairman.
Constantinou says it was important to separate the two roles because of the rapid expansion of the business over the last decade.
“There comes a point in the life-cycle of every successful business when rapid growth means you must take stock and work out the best way for the business to move forward,” Constantinou says.
“This appointment will enable me to focus on the strategic direction and growth of the Quest Franchise Network, whilst Zed and his team oversee the day-to-day operational aspects of the business.
The business now has more than 150 properties across Australia, New Zealand and Fiji.
Sanjana says he was looking forward to a new challenge.
“The Quest brand is already one of the strongest amongst business travellers. My appointment now leaves Paul free to accelerate the company’s growth while I manage and balance the needs of our franchisees, employees and guests.”
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Quest appoints new CEO

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Sydney’s weekly auction clearance rate jumped nearly 8 percentage points from the week before, according to RP Data.
RP Data recorded an auction clearance rate of 75.3% for the week, up from  67.7% the week before. 
From a total of 378 it has so far recorded 385 auction results of which 290 sold.
The number may change as more results are counted. 
And according to APM there was a clearance rate of 78.6% over the weekend compared to 69% the week before.
Of the 268 auctions recorded by APM 224 sold at a total value of $185 million. The number may change as more results are counted.
The median sale price for houses was $835,000 and $635,000 for units. Last week it was $920,000 for houses and $617,750 for units.
And at the same time last year the clearance rate was 58.2%.
Two weeks ago APM's initial result of 78% was subsequently revised to 69%.
The cheapest auction sale recorded by APM was a <a href="https://www.realestate.com.au/property-unit-nsw-mount+druitt-113642647">two-bedroom unit on Hythe Street in Mount Druitt</a> which sold for $230,500.
It last traded for $250,000 in 2003, according to RP Data.
APM's Andrew Wilson told APM News on Fairfax Media the Sydney market continues to rise on the back of low interest rates and the nation’s best performing capital city economy.
He says Sydney’s weekend auction clearance rates have averaged 75% since Easter and says the housing market is showing no signs of slowing down.
He says there are signs of a revivial in the prestige market with eight sales above $2 million over the weekend. 
Canterbury Bankstown had the highest regional result on Saturday with a clearance rate of 83% with an average sale price of $628,667. The upper north shore at 81% and the inner west at 80% came close as well. 
And he says demand for apartments close to the city remains strong with the the $1.09 million sale of a <a href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Haymarket/?adid=2010418931" target="_blank">three-bedroom unit on Quay Street at Haymarket</a>. 
"Sydney’s weekend auction market continues to strengthen with clearly its best autumn performance for three years with just two weekends to the Queen’s Birthday holiday which signals the start of the winter selling season," Wilson writes.
"Although according to last week’s budget national economic performance is predicted to deteriorate, the Sydney economy continues to be a standout. Latest April ABS unemployment data now had the Sydney rate falling to just 4.9 percent- the lowest rate of all the state capitals and more good news for the local housing market."
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Sydney weekend clearance rate jumps 8 points from last week

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Melbourne’s weekend auction clearance rate was 13 percentage points higher than the same time last year, according to the Real Estate Institute of Victoria.
It recorded a clearance rate of 73% at its weekend auctions compared to 60% the same time last year.
It was also up from last weekend which had a clearance rate of 70%.
The REIV says after a small dip in the clearance rate over the school holidays the market has returned to this year’s underlying trend.
It says the recent interest rate cut should help to further boost buyer sentiment over winter.
Of the 617 auctions recorded by the REIV, 453 sold and 164 passed in – 96 of those on vendor bids.
The cheapest house sale recorded was a <a target="_blank" href="https://www.realestate.com.au/property-house-vic-doveton-113587363">three-bedroom, 1-bathroom house on Tristania Street in Doveton</a>, near Dandenong, which sold for $270,000.
In 2011 it was on the market for $290,000 but did not sell, according to RP Data.
According to the REIV, $333 million of property changed hands via auction and $300 million in private sales.
There was a median sale price of $744,500 for houses and $508,750 for units.
REIV’s statistics closely match RP Data’s which found there was a weekly auction clearance rate of 72.7% in Melbourne in the week to May 19. It recorded 596 auction results through the week of which 433 sold.
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Melbourne weekend clearance rate up from last year: REIV

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Ratings for The Block Sky High and House Rules both fell on Wednesday night, according to OzTAM.
The Block fell from 1.308 million viewers on Tuesday night to 1.062 million, slipping from second place to fourth place. It was beaten by The Big Bang Theory and the news offerings from Channel Seven and Channel Nine.
House Rules fell from <a href="/news">803,000 viewers on its launch night</a> to 784,000, but stayed 11th in the rankings.
House Rules again performed the best in Perth, given it’s the site of their current renovation home, ranking third, with the number of viewers increasing from 153,000 to 168,000.
In Adelaide The Block fell from fourth place with 116,000 viewers on Tuesday night to 13th place last night with 76,000 viewers.
The Block performed the best in Melbourne with 394,000 viewers, coming in again at second place but with viewer numbers dropping from 487,000 the night before.
As House Rules airs this week at 7.30pm on Tuesday, Wednesday and Thursday, it will go head to head again tonight for 30 minutes as the The Block Sky High airs weeknights at 7pm for an hour.
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The Block Sky High and House Rules fall in ratings

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The federal government has called on state governments to introduce stamp duty concessions for seniors to help encourage them to downsize.
Federal ministers Jenny Macklin and Mark Butler released a joint statement announcing the <a target="_blank" href="https://www.propertyobserver.com.au/demographics/federal-budget-s-trial-program-encouraging-downsizing-to-smaller-homes-without-affecting-aged-pensions/2013051461357?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews">$112 million pilot scheme</a> to encourage seniors to downsize and calling for stamp duty concessions to make it work.
“We would also like to see state governments move to assist seniors who wish to downsize by introducing or improving concessions on stamp duty, and therefore removing a further impediment to downsizing,” they said.
The federal budget announcement on Tuesday included a scheme to make it easier for pensioners to downsize their family home by excluding any profits from means-testing for the pension.
Those eligible will be able to invest up to 80% of the net gain from downsizing, up to a limit of $200,000, in a special account which is excluded from means testing for 10 years.
The scheme has been cautiously welcomed by representative bodies but they say that stamp duty remains the biggest impediment to downsizing for seniors.
Groups say stamp duty costs are prohibitively expensive and make downsizing an expensive choice even with this scheme.
The REIA’s Peter Bushby says the scheme is a positive move but it doesn’t go far enough.
“It is most unfortunate that stamp duties as an impediment to downsizing have again been ignored,” Bushby said.
“The Budget has called on the jurisdictions to reform inefficient state taxes including stamp duty. This pays lip service to the need for reform and ignores the leadership role that the Commonwealth should be taking.”
<a target="_blank" href="https://www.propertyobserver.com.au/economy/act-to-lead-federal-budget-downsizing-seniors-home-scheme-given-stamp-duty-concession-availability/2013051561368">ACT is the principal leader in stamp duty concessions for seniors</a>.
Groups are also <a target="_blank" href="https://www.propertyobserver.com.au/demographics/seniors-group-say-swan-s-seniors-house-downsizing-pilot-unlikely-to-work/2013051461362">criticising the stringent restrictions on the budget</a>.
The scheme is only available to people who have owned their home for 25 years or longer.
Mary Wood, executive director of the Retirement Living Council, says “25 years is overly onerous and don’t reflect the needs and circumstances of most aged pensioners”.
Michael O’Neill, chief executive of Nation Seniors Australia, says the special account is restrictive and means pensioners won’t be able to use the money for daily expenses.
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years.
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Federal government calls for state government stamp duty concessions for downsizing seniors

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James Packer has chosen a winning design for his $1 billion Barangaroo tower, Crown Sydney.
British architecture firm Wilkinson Eyre took the podium with a unanimous decision from the judging panel, which included representatives from Crown, Lend Lease, NSW Department of Planning and Barangaroo Delivery Authority.
Urban Taskforce chief executive Chris Johnson described the Wilkinson Eyre design (pictured below) as a series of interwoven curves that emphasise the vertical form.
{yoogallery src=[images/stories/2013/05/may3barangaroothree]}
The winner is due to be formally announced today, but Packer let the news slip yesterday.
“This city deserves a building that is truly special and the Wilkinson Eyre’s design delivers it. It’s a wonderful moment for Crown,” Packer told The Australian Financial Review.
It was the <a href="https://www.propertyobserver.com.au/news/gone-is-the-hotel-over-the-water-but-crown-s-james-packer-still-harbours-inspirational-architecture-for-barangaroo-hotel/2013050260965" target="_blank">design</a> which polled the highest in our reader survey taking in 60% of the votes. When released it was described as a series of interwoven curves that emphasise the vertical form.
Former Prime Minister and former chairman of the Barangaroo Design Excellence Review Panel Paul Keating had said that all the designs were "heading in the direction of being a significant building for Sydney".
But earlier this month he announced his preferred design options were either the Adrian Smith and Gordon Gill Architecture's sea shell-inspired tower or the Wilkinson Eyre design over the Kohn Pedersen Fox design.
The 60-storey six-star resort hotel and casino still needs approval from the planning department before it can reach Packer’s desired height of 235 metres. The site is currently approved for 170 metres.
Packer wants the tower to be the next Sydney icon, up there with the Sydney Opera House.
I want this building to be instantly recognizable around the world and feature on postcards and memorabilia promoting Sydney,” Packer said.
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Wilkinson Eyre design wins Packer's Crown Sydney Barangaroo tower competition

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The introduction of a federal budget scheme to encourage seniors to downsize their home by quarantining profits from price differences might inspire many empty-nesters to finally make the shift. 
Those in Victoria might be helped by recently published information from the Real Estate Institute of Victoria which shows the most profitable places in Victoria to downsize.
The information shows retirees could unlock hundreds of thousands of dollars by downsizing even within their own neighbourhoods.
The REIV has published <a href="https://reiv.com.au/Property-Research/Census-research/Downsizing" target="_blank">interactive maps</a> which suggest how much money age pensioners could return to their bank accounts by moving to a smaller home in the same area.
Its a handy guide given the <a target="_blank" href="https://www.propertyobserver.com.au/demographics/federal-budget-s-trial-program-encouraging-downsizing-to-smaller-homes-without-affecting-aged-pensions/2013051461357?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">$112 million pilot</a> to assist age pensioners to downsize their homes by providing a means test exemption of up to $200,000 for ten years.
The scheme only allows people to benefit if they have been in their existing home for 25 years or longer.
<img alt="downsizingapril5one" src="/images/stories/2013/04/downsizingapril5one.jpg" width="470" height="250">
According to the REIV data, pensioners moving from a three-bedroom house in <a href="/news">Brighton East</a> into a nearby two-bedroom unit would unlock $453,750.
In <a href="/news">Mornington</a>, moving from a three-bedroom unit to a two-bedroom unit would unlock $232,500. In <a href="/news">Beaumaris</a>, moving from a four-bedroom house to a three-bedroom house would unlock $290,000.
The study found the suburbs with the greatest downsize potential were those in the inner to middle Melbourne suburbs such as <a href="/news">Kew</a> and <a href="/news">Ivanhoe</a> as well as those along the bay such as in <a href="/news">Sandringham</a> and <a href="/news">Beaumaris</a>. It found those suburbs have a high share of retirement-aged, lone-person households as well as relatively higher house prices.
By downsizing from a four-bedroom home to a three-bedroom home, residents would unlock, on average, $145,000. <a href="/news">Beaumaris</a> was the top in this category, followed by <a href="/news">Parkdale</a>, <a href="/news">Northcote</a>, <a href="/news">Caulfield South</a> and <a href="/news">Williamstown</a>.
Those downsizing from a three-bedroom house to a two-bedroom unit stand to unlock $220,000 on average. Top suburbs for this were <a href="/news">Malvern East</a>, <a href="/news">Essendon</a>, <a href="/news">Williamstown</a>, <a href="/news">Ivanhoe</a> and <a href="/news">Brighton East</a>.
Those downsizing from a three-bedroom unit to a two-bedroom unit stand to unlock $159,000 on average with the top suburbs being <a href="/news">Malvern East</a>, <a href="/news">Mornington</a>, <a href="/news">Kew</a> and <a href="/news">Bentleigh</a>.
REIV CEO Enzo Raimondo said that through downsizing retirees could increase their incomes and remain in the same area they had been living.
“Retirees can take advantage of the 25 or 30 years spent paying off their home loan by downsizing. This research will give them the tools to weigh up the options.
“By downsizing not only do they unlock the wealth generated over 25 or 30 years but they can also access a simpler lifestyle.”
He says downsizing isn’t for everyone, but those that do can access funds to help boost their retirement income.
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REIV offers guidance on likely pocketed price difference when age pensioners downsize Melbourne homes

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The federal budget has introduced a $112 million scheme to help seniors downsize but commentators have noted it doesn't address state government-imposed stamp duty requirements.
Stamp duty costs are one of the biggest impediments to retirees looking to downsize, advocates for change have said in many submissions over the years.
National Seniors chief executive Michael O’Neill says he cautiously welcomes the scheme but says stamp duty remains a hindrance.
"Any innovative attempts to alleviate the everyday living pressures on Australia’s so-called asset-rich, income-poor retirees without penalty are welcome," he said.
"However, rather than the pension assets test, National Seniors research indicates that it’s stamp duty that acts as a disincentive to downsizing.
"After doing the sums, elderly Australians with stairs and big gardens often find they simply can't afford to downsize after being slapped with state taxes and agent fees."
The Combined Pensioners and Superannuants Association of NSW’s reaction to the budget said the scheme was unlikely to work as stamp duty still acts as a major disincentive to downsizing.
Certain states do allow for some stamp duty concessions for seniors and pensioners.
The<a target="_blank" href="https://www.revenue.act.gov.au/home_buyer_assistance/pensioner_duty_concession"> Pensioner Duty Concession Scheme </a>in the ACT assists eligible pensioners downsizing by charging stamp duty at a concessional rate of $20 if the property is worth less than $412,000. To receive the pension applicants must be at least 64.
In 2008, when the scheme was introduced, Chief Minister Jon Stanhope said the step would address housing affordability.
“This will help free up larger homes for younger families, while easing the burden of looking after a larger home for elderly Canberrans who live alone,” he said at the time.
Following the ACT's introduction of the scheme, the select committee on housing affordability in Australia recommended that all state and territory governments consider stamp duty exemptions for first-home buyers and for retirees who are downsizing their primary residence.
It said stamp duty “discourages people from moving to more appropriate housing types as their circumstances change.”
In 2010 the NSW government introduced a stamp duty concession for seniors buying newly built or off-the-plan accommodation, but that ended in July 2012.
NSW currently has a non-targeted <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/grant_scheme/">new home bonus of $5000</a> for anyone buying a newly built home or vacant land.
In Victoria, card-holding seniors are eligible for a<a target="_blank" href="https://www.dhs.vic.gov.au/for-individuals/financial-support/concessions/rates-and-property/stamp-duty-concession"> stamp duty exemption</a> for properties under $330,000 and then a sliding scale discount for properties up to $750,000.
And in the Northern Territory the <a target="_blank" href="https://www.health.nt.gov.au/Aged_and_Disability/Subsidies/NT_Pensioner_and_Carer_Concession_Scheme_NTPCCS/index.aspx">Northern Territory Pensioner and Carer Concession Scheme</a> allows for an $8500 concession for homes under $750,000.
The Northern Territory also has the <a href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/HomeOwnerIncentives/PrincipalPlaceofResidenceRebate/Pages/default.aspx" target="_blank">Principal Place of Residence Rebate</a> which is non-means-tested $3500 rebate for those who have previously owned a home in Australia to acquire another home, or land on which it is intended to build a home.
In May 2012 the managing director for residential of Colliers International, <a target="_blank" href="https://www.propertyobserver.com.au/tax/it-s-time-for-a-major-change-to-stamp-duty-peter-chittenden/2012051454690">Peter Chittenden called for major changes to stamp duty</a>.
“Stamp duty concessions for older people downsizing would see more homes in established areas released onto the market and this would also have the impact of better utilising of existing infrastructure, as many of these homes would be in established areas,” he wrote.
The Real Estate Institute of Australia maintains that stamp duty is one of the major impediments stopping people downsizing.
REIA’s Evgeniya Hawthorne <a target="_blank" href="https://www.propertyobserver.com.au/demographics/reluctance-of-baby-boomers-to-downsize-creating-inefficient-housing-market-reias-evgeniya-hawthorne/2012093056577">wrote about the issue</a> in September last year.
“Stamp duty is the largest cost impediment to downsizing. Appropriate policy needs to be developed to encourage more efficient allocation and utilisation of the nation’s housing stock,” she said.
In February National Seniors Australia called for stamp duty relief in WA ahead of the state election there.
In its WA budget submission, National Seniors recommended the incoming government introduce stamp duty concessions for older West Australians who want to downsize.
“Older West Australians feel they have not shared in stamp duty relief in recent years, which has primarily targeted businesses and first home buyers,” National Seniors' June MacDonald said.
The ABC’s Michael Janda wrote in February that there is a general consensus among economists that “the archaic tax” should be relegated to history.
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years. 
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ACT to lead federal budget downsizing seniors home scheme given stamp duty concession availability

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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