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Just over a third of Australian property companies enforced pay freezes in 2012, while 6% cut remuneration rates in 2012, according to the Avdiev Property Industry Remuneration Report.
The report found 60% of property companies increased remuneration levels but at a median rate of 3% - above a 2.2% CPI rise but below the 3.5% figure for the general workforce found by the Australian Bureau of Statistics and below the median figure of 4% for the industry in 2011.
The report found staff retention through remuneration is a major concern for the property industry.
After four years of austerity in the property industry employers are looking for ways of retaining staff, says Rita Avdiev, managing director of the Avdiev Group.
“They have to balance this with managing business costs – how to determine the right remuneration increases while keeping salary expenditure under control,” she says.
The report found business conditions have remained on a plateau since 2011, with companies worried about tight margins, fierce competition to win projects, ongoing company bankruptcies and uncertainty about near term business conditions.
“However there is growing unrest among loyal employees whose pay has been left on hold for some time,” Avdiev says.
“They have been very patient for a long time, but their patience is running out. Clients who are commissioning in-depth reviews for key staff express concern about the team’s willingness to stay loyal without a serious uplift in salaries and incentives”.
And the report found women’s participation in industry dropped in 2012, down from 42% to 40%.
“The general sentiment in the industry is slowly lifting, but companies are determined to wait and see what happens next,” Avdiev says.
“The upcoming election is weighing heavily on any decisions that could be made in more certain times. Everyone is waiting for someone else to make the first move, but no one is taking that crucial first step.”
<a target="_blank" href="https://www.avdiev.com.au/consulting.htm#remreport">The Avdiev Report is for sale</a> containing results from 120 companies who have contributed salary data for their 17,500 employees in 280 positions across NSW, Victoria and Queensland.
Photo by Paul Dunleavy, courtesy of Flickr.
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awalsh-7Ub9EypybQ

Property companies froze salary increases in 2012

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Lend Lease’s wooden residential tower construction Forté has sold half of its 23 apartments with another few deals in the pipeline.
Two owner-occupiers have settled and moved into the groundbreaking tower, situated in Melbourne's <a href="/news">Docklands</a>, while a mix of investors and owner-occupiers are in the process of settling.
<img alt="fortemarch18one" height="350" width="470" src="/images/stories/2013/03/fortemarch18one.jpg">
The marketing campaign for the building began on February 22, well after the building’s completion in December 2012.
Most of the 10-storey construction is made from cross-laminate timber – a material billed as very quick to work with and environmentally friendly.
According to Lend Lease, by using wood, Forté reduced carbon dioxide equivalent emissions by more than 1,600 tonnes when compared to concrete and steel – the equivalent of removing 400 cars from the roads.
<img alt="fortemarch18two" height="313" width="470" src="/images/stories/2013/03/fortemarch18two.jpg">
Lend Lease’s Daryl Patterson says the technology allows for a more efficient and environmentally-friendly construction process.
“Designed and produced in a factory environment, Forté was 30% faster to build, safer and with higher precision than traditional construction materials. It also resulted in reduced construction traffic to and from site, caused less disruption to the community and produced less waste,” Patterson says.
“Unlike Europe where the revolutionary material has been used for more than a decade, Australia is only at the beginning of its CLT journey and still has a way to go to recognise the enormous potential in our market.
<img alt="fortemarch18three" height="313" width="470" src="/images/stories/2013/03/fortemarch18three.jpg">
“While we are in the early stages of developing environmentally-friendly apartment buildings, we are noticing a changing perception among consumers towards the long-term value that sustainable housing offers.”
He says cross-laminate timber offers better thermal performance and requires less energy to heat and cool, reducing energy and water costs with average savings of $300 per year or up to 25% less than a typical code-compliant apartment.
<img alt="fortemarch18four" height="311" width="470" src="/images/stories/2013/03/fortemarch18four.jpg">
Forte is the tallest timber building in the world, claiming the title from the eight-storey apartment block Stadthaus, Murray Grove, in London.
The $11 million timber tower comprises approximately 760 panels, measuring up to 16.5 metres by three metres, shipped from Austria.
Mr Patterson says the quick construction of the tower is mainly due to its similarities to that of an Ikea flat-pack.
Prices in the tower start at $424,000 for one-bedroom apartments and $579,000 for two-bedroom apartments.
<a href="https://www.propertyobserver.com.au/developments/forte-scaffolding-comes-down-unwrapping-the-world-s-tallest-timber-building/2012121958596" target="_blank">Property Observer followed the constuction through a series of photos</a>.
Meanwhile, Lend Lease has just started work on a new Docklands library and community centre, using cross-laminate timber and reclaimed hardwood.
<img alt="fortemarch18five" height="311" width="470" src="/images/stories/2013/03/fortemarch18five.jpg">
Lend Lease, along with Places Victoria and the City of Melbourne, hope the project will be Australia’s most modern library.
Designed by Clare Design and Hayball, the $13 million project is due to be finished in late 2013.
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Lend Lease's wooden Forté in Melbourne Docklands reaches halfway sales point

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Brisbane is on track for a property market recovery in 2013 driven by strong employment and population growth coupled with a supply shortage and rising rents, according to John McGrath’s autumn property report.
A noticeable increase in buyer enquiries in the last quarter of 2012 bodes well for 2013, which McGrath says will act as a springboard for 2014 and 2015.
As first-home buyers have dropped off, investors from Sydney, Melbourne and locally are filling some of the void.
Buyers are particularly drawn to sub-$500,000 apartments and townhouses in <a target="_blank" href="/news">Toowong</a>, <a target="_blank" href="/news">St Lucia</a> and <a target="_blank" href="/news">Paddington</a>, with strong yields and low vacancy rates.
“The typical local upgrader is swapping a two bedroom workers’ cottage worth $600,000-$800,000 for a $1M-plus Queenslander. There’s not a lot of cross-town moving, as low interest rates and good value prices are enabling people to buy a larger home in inner city areas where they already live,” McGrath writes.
McGrath says downsizers remain active with many selling $1 million-plus family homes and buying a smaller $700,000 property and then reinvesting the remaining cash.
McGrath tips <a target="_blank" href="/news">Hawthorne</a>, Toowong and <a target="_blank" href="/news">West End</a> as top picks for investors in Brisbane.
“Hawthorne has undergone a huge transformation with the emergence of lifestyle amenities, food markets and café culture that’s attractive to families and young professionals. Watch this space as home renovators move in,” McGrath writes.
“Toowong, just 4km from CBD and less than five minutes to the St. Lucia campus, it’s attracting an investor market who want to capitalise on the demand from young professionals and students.
“West End is an urbane suburb with great café culture, it has that real inner-city feel. Close proximity to Southbank, there is a surge of development attracting both investors and owner-occupiers.”
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Brisbane residential market tipped for recovery: John McGrath

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Thornbury has the highest auction clearance rate of all Melbourne suburbs so far this year, at 96.4%, according to the Real Estate Institute of Victoria (REIV).
Of the 28 auctions held in the suburb this year, 27 have sold.
There are 13 properties up for auction this weekend, according to <a href="https://realestate.com.au" target="_blank">realestate.com.au</a>.
A three-bedroom house on 443 hectares at <a href="https://www.realestate.com.au/property-house-vic-thornbury-113141219" target="_blank">135 Clarendon Street</a> (pictured below) is being auctioned with a price guide of $700,000 to $750,000 by Jellis Craig agent Anthony Lapadula.
<img src="/images/stories/2013/03/thornburymarch19one.jpg" width="470" height="350" alt="thornburymarch19one">
According to RP Data the property had been listed for $680,000 to $730,000 before being revised up.
A three-bedroom house on 494 hectares at <a href="https://www.realestate.com.au/property-house-vic-thornbury-113100463" target="_blank">89 Leinster Grove</a> (pictured below) has been listed for $730,000 to $780,000 by Hocking Stuart Northcote agent Sam Rigopoulos.
<img src="/images/stories/2013/03/thornburymarch19two.jpg" width="470" height="355" alt="thornburymarch19two">
The last sale price recorded by RP Data was the three-bedroom <a href="https://www.domain.com.au/Property/For-Sale/House/VIC/Thornbury/?adid=2010274123" target="_blank">8 Keon Street</a> (pictured below) on 367 square metres, which sold at auction for $711,000 on March 9 through Harcourts Northcote agent John Bisignano.
<img src="/images/stories/2013/03/thornburymarch19three.jpg" width="470" height="288" alt="thornburymarch19three">
<a href="/news">Thornbury</a>, 7 kilometres northeast of Melbourne, is sandwiched between Northcote and Preston.
The suburb's median house price, currently $690,000, has fallen by 3.2% in the last year. The median asking rent for houses is $470 per week.
The median unit price is $379,000, down 0.4% over the last year. The median asking rent for units is $300 per week.
It has a population of 17,434, according to the 2011 census. The suburb has one train station, is connected to two tram lines and is serviced by two popular bike trails.
There are a number of bars and pubs along High Street, as well as restaurants and shops.
<a href="/news">Mill Park</a>, an outer Northern suburb, came in second with a clearance rate of 92%. So far in 2013, 25 auctions have taken place with 23 selling.
<a href="/news">Camberwell</a> came in third with a clearance rate of 90.7%, as 39 of the 43 auctions this year sold.
<table style="width: 470px;" border="0" cellpadding="0" cellspacing="0">
<colgroup>
<col width="133">
<col width="90">
<col width="103">
<col width="101">
</colgroup>
<tbody>
<tr height="17">
<td height="17" width="133">Suburb</td>
<td width="90">Total Auction</td>
<td width="103">Sold at auction</td>
<td width="101">Clearance rate</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">THORNBURY</a></td>
<td align="right">28</td>
<td align="right">27</td>
<td align="right">96.40%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">MILL PARK</a></td>
<td align="right">25</td>
<td align="right">23</td>
<td align="right">92.00%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">CAMBERWELL</a></td>
<td align="right">43</td>
<td align="right">39</td>
<td align="right">90.70%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">SURREY HILLS</a></td>
<td align="right">20</td>
<td align="right">18</td>
<td align="right">90.00%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">RICHMOND</a></td>
<td align="right">69</td>
<td align="right">60</td>
<td align="right">87.00%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">HAWTHORN EAST</a></td>
<td align="right">36</td>
<td align="right">31</td>
<td align="right">86.10%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">ALBERT PARK</a></td>
<td align="right">20</td>
<td align="right">17</td>
<td align="right">85.00%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">GLEN WAVERLEY</a></td>
<td align="right">38</td>
<td align="right">32</td>
<td align="right">84.20%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">ST KILDA EAST</a></td>
<td align="right">25</td>
<td align="right">21</td>
<td align="right">84.00%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">BRUNSWICK</a></td>
<td align="right">31</td>
<td align="right">26</td>
<td align="right">83.90%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">ELSTERNWICK</a></td>
<td align="right">23</td>
<td align="right">19</td>
<td align="right">82.60%</td>
</tr>
<tr height="17">
<td height="17"><a target="_blank" href="/news">COBURG</a></td>
<td align="right">40</td>
<td align="right">33</td>
<td align="right">82.50%</td>
</tr>
</tbody>
</table>
Source: REIV
Note: this table covers suburbs which had 20 or more auctions between 01/01/13 and 16/03/13.
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Thornbury tops list of Melbourne suburbs with highest clearance rates

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Victorian planning minister Matthew Guy has approved plans to build the tallest highrise in the southern hemisphere, despite concerns it will cast a shadow over the Shrine of Remembrance.
Australia 108, a proposed 108-storey apartment and hotel tower, came under fire from Melbourne Lord Mayor Robert Doyle who said it could overshadow the Shrine of Remembrance and that at 388 metres it exceeded the city council's height limits.
The tower will be 91 metres higher that the Eureka tower.
Guy announced on Twitter this morning that he had approved the $600 million development saying he had no objection from the Shrine trustees and that it would provide hundreds of jobs while taking pressure off existing suburbs.
<img src="/images/stories/2013/03/guymarch18one1.jpg" width="470" height="260" alt="guymarch18one1">
Architects Fender Katsalidis, who designed the nearby Eureka Tower, are behind the Australia 108 project, which would be the world's 18th tallest building at 70 Southbank Boulevard.
According to The Age, the project is backed by private investors Nonda Katsalidis, Benni Aroni, Adrian Valmorbida, Ian Fayman, Gary Caulfield and Mark Hopkinson.
Apartments in the building start at $425,00 for a 1 bedroom unit, $575,00 for a two bedroom and $775,00 for a three bedroom. There will be 664 apartments.
<img src="/images/stories/2013/03/guymarch18two.jpg" width="400" height="831" alt="guymarch18two">
The building will feature a six star hotel with 288 rooms from levels 83 to 101 with two restaurants and two bars which will feature glass floors looking straight down to the ground.
The building will include landscaped terraces above the carpark, a pool and gym, a theatre seating up to 40 people, a function room, a library, a business centre and a fresh food market and a café.
Work on the project is due to start later this year.
In a press release issued later, Guy said the building will be an outstanding addition to the Melbourne skyline.
"I am proud to approve a tower that will define our city for many years to come and which I am sure will become as iconic a Melbourne landmark as Flinders Street Station or Federation Square," Guy writes. "The Australia 108 mixed-use tower will be an icon both visually and for those who will live in it, stay at its hotel, dine at the level 84 Sky Lounge or visit the level 108 Star Bar.
"Towers such as Australia 108 are consistent with the Coalition Government's drive to concentrate high-density development in defined areas and out of existing, quiet neighbourhoods. "Every apartment in this tower is one less apartment in an existing quiet neighbourhood."
Q1, in the Gold Coast is the current tallest building in the southern hemisphere at 323 metres, followed by the Eureka Tower in Melbourne at 265 metres, 120 Collins Street in Melbourne at 265 metres, 101 Collins Street in Melbourne at 260 metres and the Rialto Towers in Melbourne at 251 metres.
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Tallest building in southern hemisphere approved for Melbourne

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Sydney is leading a national property market recovery which will stimulate surrounding areas, according to John McGrath in his Autumn market report.
McGrath says the primary trends Sydney has seen over the past few months have been an increase in investors, particularly self-managed super funds, fewer first home buyers and the slow return of downsizers and retirees.
McGrath is predicting strong competition in the mid-high range market this year, compared to last year when there was more activity in the sub-$1 million market. Clearance rates are up and more people are attending auctions suggesting they just want to “get on with it”.
A retreat of first-home buyers is giving investors more room in the lower end of the market while the upper end of the market is being driven by downsizers and “the Chinese aristocracy”.
He says as share prices rise so too will personal wealth, meaning many downsizers who put off moving post-GFC may now but up.
Offshore buyers are tipped to increase with the introduction of the ‘significant investor visa’, which enables fast-tracked residency for those who invest more than $5M in business, government bonds or managed funds, “will no doubt have a flow-on effect to harbourside/beachside property and new apartments”.
He says new capital spending will be another boost for the broader Sydney market, with projects such as the Inner West Light Rail extension and the North West Rail Link likely to stimulate price growth and yields.
His top tips for Sydney include <a href="/news">Erskineville</a> and surrounds, <a href="/news">St Ives</a> and <a href="/news">Forestville</a>.
He says Erskineville is “where all the smart money that can no longer afford Surry Hills is going”. The university and the hospital drive strong rental demand in the area.
He recommends St Ives for purchasing a family home with $1 million netting buyers what they could normally only buy for $1.6 million in trendier suburbs.
“Believe me when I say that it’s hard to go past this area for great family living with its own village,” McGrath writes.
In St Ives, <a href="https://www.realestate.com.au/property-house-nsw-st+ives-112958859" target="_blank">a four-bedroom house</a> (pictured below) on 1,144 square metres has been listed for sale at more than $900,000. The single-storey home last traded for $867,000 in 2009.
<img src="/images/stories/2013/03/stivesmarch15one.jpg" width="470" height="351" alt="stivesmarch15one">
And a <a href="https://www.realestate.com.au/property-house-nsw-st+ives-112910447" target="_blank">four-bedroom single storey house</a> (pictured below) on 923 square metres which last traded $630,000 in 2006 has been listed for more than $900,000.
<img src="/images/stories/2013/03/stivesmarch15two.jpg" width="470" height="352" alt="stivesmarch15two">
He says although Forestville is a forgotten suburb it ticks all the boxes for great lifestyle and capital growth.
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St Ives the family-friendly $1 million Sydney residential prospect: John McGrath

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A 1914-built Gothic Revival Church in Dunkeld, 250 kilometres west of Melbourne, has been listed for auction by the Uniting Church.
The Church is selling <a href="https://www.domain.com.au/Property/For-Sale/Rural/VIC/Dunkeld/?adid=2010325412" target="_blank">the property</a> following moves to consolidate all church congregations in the town into a single premises.
<img alt="dunkeldmarch15one" height="348" width="470" src="/images/stories/2013/03/dunkeldmarch15one.jpg">
The vendors are expecting about $125,000 for the property, consisting of two buildings, the church and a church hall, on two separate titles over 4,000 square metres.
The church is constructed from locally made bricks on a freestone base from Mount Abrupt in an early English Gothic revival style, according to heritage documents. It was designed by architects Clegg, Miller and Cain and built by E. H Patterson of Hamilton.
<img alt="dunkeldmarch15four" height="314" width="470" src="/images/stories/2013/03/dunkeldmarch15four.jpg">
“The church has a rectangular plan of four bays divided by buttresses, no porch and no chancel or vestry,” heritage documents say.
“The gabled roof is pitched at 60 degrees and is clad with corrugated iron. Architectural details are elaborated in cement render, now painted white. The facade is symmetrical about the front door which is timber and double leaved. Above the door there is a large tripartite window under a simple hood mould. The side windows are treated as single lancets.”
The cypresses in front of the church date back to its construction.
The church replaced an earlier timber church on the property which was built in 1867.
<img alt="dunkeldmarch15three" height="314" width="470" src="/images/stories/2013/03/dunkeldmarch15three.jpg">
It started life as a Wesleyan Church under the Hamilton circuit, later coming under the Penshurst Circuit and finally as the church increased in popularity it become the centre of the Dunkeld Circuit, according to heritage documents.
In 1902 it became a Methodist church and only became a Uniting Church in the late 1970s.
In 2002 a heritage survey found the church was in excellent condition and retained a high degree of integrity.
<img alt="dunkeldmarch15two" height="314" width="470" src="/images/stories/2013/03/dunkeldmarch15two.jpg">
“Several additions and changes have been made to the interior of the church since its construction in 1914. These include the erection of an honour roll above the pulpit in 1919, which records the names of those who served and fell in World War One; changes to the lighting system from petrol lamps to electricity in 1939; carpeting the isles and the sanctuary; a communion table and the erection of a Latin Cross in 1959 above the pulpit, relocating the honour roll to the west wall,” heritage documents say.
It will be sold with all its internal architecture such as the pine lined flooring, timber lined ceilings and a series of historic leadlight windows but excluding its pews which the vendors will attempt to return to the families of the original donors.
The church hall, built at a later period, is currently used a Sunday school.
The buildings are connected to power, water and sewerage.
The <a target="_blank" href="/news">Dunkeld</a> church goes to auction on April 13 through agent Bart O’Sullivan.
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Dunkeld Uniting Church for auction with $125,000 hopes

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The unemployment rate was unchanged at 5.4% in February according to the Australian Bureau of Statistics.
This a better-than-expected result, with 25 economists polled by Bloomberg this week forecasting the unemployment rate to rise to 5.5%.
The number of people employed increased by 71,500 to 11,628,300, primarily due to an increase in male part-time employment and female full-time and part-time employment.
The number of people unemployed increased by just 400 people to 660,000.
There was an increase in the seasonally adjusted aggregate hours worked, up 11.3 million hours to 1,632.8 million hours.
The seasonally adjusted labour force participation rate increased by 0.3 percentage points to 65.3%.
The underemployment rate was 7.1% in February which, combined with the unemployment rate, gives a labour force underutilisation of 12.5% in February.
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Unemployment stays steady through February at 5.4%

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Shopping centres are reportedly coming under increasing pressure from department store giants Myer and David Jones to renegotiate new lease arrangements in light of falling sales in bricks-and-mortar stores.
But the executive director of the Shopping Centre Council of Australia, Milton Cockburn, has hit back, saying department stores aren’t holding up their end of the bargain as anchor tenants.
Myer and David Jones are reassessing their position in some marginal markets with both looking at closing some stores or renegotiating new leases, according to analyst comments published in The Australian Financial Review.
Myer has closed three stores in the past year, while David Jones has closed three stores in the past five years.
In its half-year results released today, Myer confirmed it has successfully renegotiated a number of leases.
“Our focus is on maximising returns per square metre by improving productivity through enhanced store layouts, new stores, improved efficiency of floor space through refurbishments and the closure of a handful of stores. In this context, we continue to review the merits of all existing and planned stores in our portfolio, including proactive lease negotiations yielding results,” its report said.
David Jones also has several stores in its portfolio with leases due to expire soon and will be looking at doing the same.
The company has also installed foot traffic counters in a number of stores which will reportedly be used to help argue the case for rent reductions on new leases.
But there is increasing dissatisfaction among shopping centre operators as anchor tenants fail to attract the customer numbers that they should, according to Mr Cockburn.
"The limited number of department store chains in Australia gives them significant clout in lease negotiations and renegotiations," Mr Cockburn told Property Observer.
"It’s fair to say that over the last few years the department stores haven’t been pulling their weight in attracting foot traffic to shopping centres in the way anchor tenants are supposed to do.
"I guess in any such negotiations, centre owners will be asking the department stores for details of the steps they are taking in again making themselves more attractive to customers."
And it seems things might not be as bad for department stores as they claim.
The latest Jones Lang LaSalle shopping centre manager survey carried out in February found that department stores were among those categories now starting to record consistently positive growth, compared with the declines evident through 2010 and 2011.
Consumer sentiment rose again in March according to a Westpac survey, it’s now at its highest level since December 2010.
Meanwhile, Myer posted a better-than-expected profit of $88 million in for the first half of the financial year while analysts had been expecting about $85 million.
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Department stores need to pull their weight: Shopping Centre Council of Australia

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Property development group Little Projects has sold all 388 apartments in its ILK South Yarra development just as the building topped out at 24 storeys.
To celebrate the company ran a topping out ceremony where a crane hoisted an olive tree on top of the concrete structure while managing director Michael Fox posed for a photo (below).
<img alt="ilkmarch13three" height="313" width="470" src="/images/stories/2013/03/ilkmarch13three.jpg">
The tradition is a somewhat common practise in the construction industry with many skyscrapers and bridges being topped off with an evergreen tree, supposedly for good luck. The tradition is an ancient Scandinavian practise that has been carried on through the ages and popularised by immigrant ironworkers in America.
In this case the ceremony did highlight the wide panorama residents at the top end of the tower would have from their apartments.
According to Little Projects, <a target="_blank" href="https://www.ilksouthyarra.com.au/index">the building</a> is just months of being completed with settlements planned for late July 2013.
<img src="/images/stories/2013/03/ilkmarch13one.jpg" width="470" height="300" alt="ilkmarch13one">
The project will include a landscaped roof garden with barbecues and dining area, a large indoor/outdoor cinema and a swimming pool with a sauna and a gym.
<img src="/images/stories/2013/03/ilkmarch13two.jpg" width="470" height="295" alt="ilkmarch13two">
Fox says the sales of the building outperformed other projects in the area.
“ILK sold out quickly, ahead of other competition in the area. We attribute this to its enviable South Yarra location, iconic building design, outstanding residents’ amenity and the high quality fit out of each of the apartments. We have dedicated some of the best views and spaces in the building to amenity which allows for more of the residents to enjoy,” Fox says.
The company has just launched Central South Yarra, a new project in the Forrest Hill Precinct of <a href="/news">South Yarra</a>.
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Little Projects celebrates sale of all units at South Yarra's ILK development

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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