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A historic store dating back to 1886 has been listed for sale in Gundaroo, NSW.
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-gundaroo-nsw-2620/161838" target="_blank">The Gunadaroo Store</a>, built in 1893, and an attached cottage named Sally Paskin’s Store, built in 1886, have been listed for sale and come with a potter's shed, a picnic garden and water features.
<a href="/news">Gundaroo </a>is just north of the ACT border, 30 kilometres north of Canberra.
The store currently operates as a boutique gift store and has been recently renovated and has high ceilings, kauri floors and expansive interiors.
“The Gundaroo Store and the Caladonia Store next to it were like Myers and Bunnings and Woolworths all rolled into one. It provided a wide range of goods for people to buy," says vendor Peter Thorne.
“It had everything from haberdashery, hardware items even explosives for miners because gold was found in the region. It basically provided everything you could possibly want.”
The building is mostly constructed of wood from various parts of the world.
“It’s a lovely old building, particularly interesting because the floors are New Zealand kauri and they’re all original and the ceilings are baltic pine, from the other side of the world. Packing cases were pulled apart and used to construct buildings. If you look across the front there’s a section made of packing case timber,” Thorne says.
“Moving from Sydney has been the best thing we ever did for a whole range of reasons, but the community is fantastic. There are lovely people here. The craft festival especially sticks in our memory as being a wonderful occasion. “
Agent Chris Dixon says he enjoys the construction of the building.
“It really does a very solid feel and you don’t often see buildings constructed like that these days,” Dixon says.
“The lovely high ceilings, the kauri floors, the sheer size lends itself to many options and opportunities.”
Dixon says Gundaroo is a popular tourist spot.
“It’s very popular with Canberrans and those living the regional areas but it’s also quite popular with Sydneysiders. People often come down to Canberra and do the winery tours here and there are a number of villages within half an hour of Canberra,” Dixon says.
“Peter Thorne is a fascinating fellow. He’s an engineer by trade and he has dabbled in all sorts of enterprises, but he and wife Jenny have been quite enterprising running it as a boutique store. It was previously Devonshire teas and arts and crafts and for a while it was restaurant.”
The Sally Paskins store is still in largely original condition.
“It’s one of the only excellent examples of slab hut constructions left,” Dixon says.
Thorne bought the property in 1976 after leasing the property for a year. He and his partner discovered the property when driving down to Sydney to sell tiles in Canberra. They operated as an arts and craft store, then added a tea room and then ran a spit roast restaurant for a while.
The expressions of interest campaign closes at the end of November, and Dixon is seeking offers over $1 million for the property.
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Sally Paskin's 1886 store listed for sale in Gundaroo

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The organisers of mega-music festival Splendour in the Grass have listed their historic Byron Bay home for sale.
Jessica Ducrou and Dain Thomas are looking for $3.5 million for their 109-year-old farmhouse.
The couple recently renovated the property, named Killarney, with their home styling due to feature in the December issue of Vogue Living.
<img src="/images/stories/2012/10/splendour1.jpg">
The couple bought the five-bedroom Queenslander in 2010 for $2.65 million. Prior to this it traded for $1,595,000 in 2005.
The two-level <a target="_blank" href="/news">Byron Bay</a> property features a large veranda, five bathrooms a formal lounge room with an open fireplace. The open-plan kitchen and dining area overlooks the entertaining deck, gardens and swimming pool.
The saltwater pool sits next to a large cabana with a barbecue.
Marketing for <a target="_blank" href="https://maps.google.com.au/maps?q=21+Cooper+Street+byron+bay&amp;hl=en&amp;sll=-25.335448,135.745076&amp;sspn=42.130286,56.513672&amp;hnear=21+Cooper+St,+Byron+Bay+New+South+Wales+2481&amp;t=m&amp;z=16">21 Cooper Street</a> suggests it’s a few minutes’ walk from Tallows Beach and 10 minutes from Byron Bay centre.
The property has expired development approval for a guest cottage at the back of the garden and current approval to operate as a bed and breakfast.
The property is being marketed by Unique Estates agent Nicolette van Wijngaarden.
The expressions of interest campaign closes on November 30.
Ducrou founded Splendour in the Grass in 2001 after co-founding Homebake in 1996.
The festival has drawn headline acts such as Coldplay, Smashing Pumpkins, Wolfmother, Kanye West, Pulp, Sonic Youth and Moby.
The couple have battled the local council after the council failed to approve the Byron Bay festival and they had to move it to Woodford, Queensland.
They will be moving the festival back to Byron Bay after securing trial approval to operate the festival at a site in North Byron Parklands.
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Splendour in the Grass organisers list Byron Bay home

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Australian Securities and Investments Commission needs to clamp down on rogue self-managed super fund (SMSF) advisers, according to wealth advisory group Chan &amp; Naylor.
Its director of financial planning, David Hasib, says the relatively new nature of SMSF products means regulation is lagging behind.
“Australia’s financial landscape has grown dramatically in its diversity and complexity over the years, yet education requirements for advisers have lagged,” says Hasib.
“It should not be acceptable to play the role of financial adviser in the general sense – the industry is evolving so quickly that it requires specialised advisers that are up to date and add real long-term value to clients.”
He says a lack of regulation means anyone can be an SMSF adviser and many don’t advise clients of potential pitfalls of SMSFs.
“A quick internet search will reveal the growing numbers of online spruikers, bearing no relevant qualifications at all, who are cashing in on the new SMSF market,” says Hasib.
“The problem is detrimental to those on the receiving end of uninformed advice, as well as the reputation and integrity of an otherwise healthy industry which will find itself tarred with the same brush.”
He recommends minimum qualification levels and increased professional development hours with penalties for those operate without them.
Andrea Slattery, CEO at SPAA, the peak body for SMSF advisers, says trustees should always seek out SPAA members for advice.
"There are so many people getting into the industry who see it as an opportunity and there's a need for trustees to seek out genuine specialists and SPAA members are the only ones who have undergone rigorous training," Slattery says.
Slattery says ASIC and the ATO are increasingly moving towards regulation for SMSF advisers.
"We believe there is a need for people to do more to work towards accreditation and to get recognition. The ATO have already increased their powers and will be increasing their further to regulate the sector."
"Right now there are people that are providing services in Australia that are not specialists and may not be competent with the complex rules around advice advice in SMSF and what we're trying to do is build integrity in the industry and advise trustees to use a specialist adviser."
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Clamp down on rogue SMSF advisers: Chan & Naylor

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An 1878-built hotel in Portland, Victoria, has been listed for sale with $1.29 million hopes.
{yoogallery src=[images/stories/2012/09/oct2portland]}
Annesley House was originally built as the residence and surgery of Dr Brewer, then chief medical officer and mayor of Portland.
The two-bedroom residence consists of seven furnished apartments, which have been run as self-contained holiday accommodation by vendor Mark Robinson, who bought the property in 2004.
The two-storey brick structure was designed by architect Daniel Nicholson. Heritage documents say the building is an interesting example of a substantial 19th-century townhouse design in an Italianate style.
Brewer passed the building on to the Wadmore sisters in the early 1900s. They converted the mansion into a guesthouse. In the 1940s the building passed onto a Mrs Luers, the daughter of a local politician and poet. She continued to run the building as a guest house until the current owners bought it in 2004.
When it was built the Portland Guardian reported it was “one of the finest that a private gentleman in a country district need desire”.
Inside pictures of Annesley House on page 2 
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Robinson has undertaken significant restoration of the property, including remodelling the original kitchen, while keeping many of its original features and furnishings, including a bell to summon the servants.
{yoogallery src=[images/stories/2012/09/oct2portland2]}
Current rates at the hotel start at $155 per night.
Portland Bay was named in December 1800 when Lieutenant James Grant on the Lady Nelson sighted it for the first time and named it after a Secretary of State, the Duke of Portland.
It was set up as whaling station and trading port in the early 1830s, but it soon attracted pastoralists as the fertile nature of the land was discovered.
Eventually the sheltered bay became a permanent township, with the government commencing the set out of a new township in 1840.
As the Victorian goldfields became overcrowded ships were diverted to Portland, with the first immigrant ships sailing directly from Great Britain in Portland in 1852.
The 1,344-square-metre property includes proprietor's rooms and off-street parking and garages.
It is being sold by Mike Barrett from Charles Stewart Warrnambool.
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Heritage 1870s Portland, Victoria, Annesley House hotel listed

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An 1889-built hotel in Cullen Bullen, 124 kilometres inland from Sydney, has been listed for sale.
John Surian, director of Raine and Horne Parramatta, says the history of the pub, the only one in <a href="/news">Cullen Bullen</a>, dates back to the past century. 
According to a heritage study the rectangular Victorian-style hotel was built in two stages along roadside frontage.
“The first southern section of the hotel was constructed in 1890 of ashlar render with a dentilled parapet wall column and urn. A four-panelled doorway with double two-pane windows are visible at the skyline,” Coalpac’s heritage study says.
“The second section is simpler in design and consists of dry pressed brick with smaller pane windows. A two-storey Edwardian veranda continues along the entire street facing facade.”
Agent Mitchell Woods is asking $400,000 to $450,000 for the <a href="https://www.realcommercial.com.au/property-retail-nsw-cullen+bullen-500461719" target="_blank">Royal Hotel premises</a> (pictured below), giving a potential yield of around 8%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/10/royalhotel.jpg" width="470">
The pub currently earns $36,703 per year on a 10-year lease expiring in 2019.
The vendors renovated the building three years ago, replacing the bathrooms, the main bar area, kitchen, cool room, beer lines and other auxiliary works.
The 1,461-square-metre hotel includes a main bar area, a cool room, bistro rooms and furniture, a kitchen, 10 rooms for accommodation, a laundry and a store room.
The town is the centre of local mining operations, with the major coal extractor in the area, Coalpac, recently applying for a 20-year extension of its licence. The town is also close to a power station.
Coalpac wants to expand its mining operations in the area, with plans to start open-cut coal mining in the Ben Bullen State Forest, which borders the Gardens of Stone National Park.
The plans would raze 10,000 hectares of forestland and is facing opposition from environmentalists.
Coalpac says if the plans don't go ahead, electricity prices are destined to rise.
The rent increases annually with CPI, and the tenant pays all the outgoings and maintenance.
A vacant block at the back of the property is included in the sale.
The pub last sold in 2003 for $375,000, according to RP Data.
According to the 2011 census, the town has a population of 183 people with 83 households.
Europeans first settled at Cullen Bullen with the 1815 construction of Cox’s Road across the Blue Mountains.
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Cullen Bullen's only pub listed for sale

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Melbourne real estate agents continue to underquote properties selling at auction, according to the latest Property Observer survey on the issue.

An analysis of 74 sales catalogued by National Property Buyers over the last four weeks shows 55 of those properties sold for above the price range indicated by the selling agent prior to auction.

That’s just shy of 75% of properties selling for more than the upper bracket of the quoted price range.

On average, those 55 properties sold for 8.7% above the upper bracket of the price range indicated by the agents.
Property Observer’s <a target="_blank" href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988">most recent underquoting survey</a> found 75% of September surveyed properties sold for over price indications. Those that sold above went for an average of 6.5% over.

Prior to that, <a target="_blank" href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435">an analysis of 220 auction results</a> in the months leading up to spring found 77% of properties were selling above price guides. Those that sold above were going for an average of 5% above expectations.

Just one property sold for below the price range indicated by agents prior to auction.

The properties analysed were only those where a price range was given with a lower and upper price indication.

Buyers’ agent Catherine Cashmore, who compiled the raw data for this survey, says buyers can expect to pay more than the price indicated before auction.

“Price quotes are important to attract buyers in the first place – no buyer likes to play guessing games when it comes to putting a price on an advertised listing.  However, as with any auction, the quote has to be at a level to attract as many potential purchasers as possible, whilst at the same time, not being too far from vendor expectation to achieve a sale,” Cashmore says.

“There are still agencies who quote at a level which we know from our own research to be too low to reasonably achieve a sale within the advertised range – we come across them weekly – and it would be fair to suggest buyers can expect to pay above the advertised price quote in most circumstances, especially when there is competition.

“However, bear in mind, every real estate sales agency quotes differently, so it's always important to do the necessary leg work to avoid wasting time and money inspecting a home, which will only ever achieve a sale price in excess of the advertised figure.”
 
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Cashmore says more owner-occupiers in the market can push up auction prices.

“Stock levels have been plentiful this year, however the 'best of the best' has not been in abundance.  Owner-occupiers have dominated the inner-city market (with numbers of investors reduced due to continual poor consumer confidence), and it's well known that owner-occupiers are the demographic willing to pay an extra 5-10% more to secure the home of their dreams.  Hence why owner-occupiers fuel price growth and hence why 'investment grade' homes are chosen to attract this demographic.

The most extreme case of underquoting, or overly enthusiastic bidding, was a two-bedroom <a target="_blank" href="/news">Collingwood</a> house that sold for $662,500, 50% above the pre-auction indicated price range of $400,000 to $440,000.

A four-bedroom <a target="_blank" href="/news">Fitzroy North</a> house sold for $1,845,000, or 29% above the pre-auction indicated price range of $1.3 million to $1.43 million.

And a two-bedroom <a target="_blank" href="/news">Hawthorn </a>apartment sold for $652,000, 25% above the pre-auction indicated price of $470,000 to $520,000.

The $600,000 to $1 million bracket had the most cases of underquoting. Of the 26 sales in that bracket analysed, 23 or 88% sold for above the pre-auction indicated price range.

Of those 23, 17 sold for more than 5% above. Those 11 properties sold for an average of 11% over the pre-auction indicated price range.

For properties selling under $600,000, 64% sold for above expectations for an average of 5.7% over.

For properties selling over $1 million, 70% sold above expectations, an average of 10.2% over.

The property sales analysed come from National Property Buyers weekly survey of the Melbourne market.

The properties recorded those thought to be investment-grade or cream of the crop properties. They are thought to be properties that hold the best potential for long-term capital growth and rental demand.

The price quotes are received as close as possible to the auction date to avoid step quoting practices.

Cashmore says agents who put their price quotes too high risk scaring away potential clients. While Cashmore agrees price quoting can be frustrating for clients they must realise that more legislation won’t stop the practice.
 

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Sale prices edge 8.7% above estimates of Melbourne agents underquoting at October auctions 

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The notion of an Australian property housing bubble is misguided according to BT Financial Group chief economist Chris Caton.
Caton describes as simplistic the comparison with US housing market and the argument that Australian housing prices are overpriced when measured in terms of disposable income.
“When other countries are thrown into the mix, the argument that we have a housing price bubble in Australia is much harder to sustain,” Caton said at a conference of mortgage brokers in Thailand.
“The fact is our housing prices are in broad alignment with many similar economies, so it’s my belief talk of a housing bubble is misplaced.”
Caton also predicts lower rates and higher housing prices over the next 12 months.
“Although I’m not as bullish as some other economists on lower interest rates, I still expect at least one cut in the cash rate and possibly two as the Reserve Bank prepares for a downturn in mining.”
He says he expects a pick-up for housing credit and house prices over the next year, led by WA.
“I suspect we will be back at next year’s conference and housing prices will have risen over the past 12 months.”
Caton says while there are major economic problems in the world, he think there will be minimal impact on Australia.
“The Euro-zone remains an issue, but it’s more about contagion across Europe than a Greece in isolation. Greece per se is not an issue; its economy is small. It’s Italy and Spain we have to worry about. That said the trend in the long-term bond rate in those two countries in the past three months gives ground for some confidence.”
“The US is facing an inadvertent massive tightening of fiscal policy with tax increases and spending cuts totalling close to 5% of GDP in early 2013 (the so-called fiscal cliff) because of past policy decisions. Were this to happen, the US would be pushed back into recession, but common-sense should prevail.”
He says China remains a worry “but only because it’s been such a good news story for Australia”.
“The commodity boom we have enjoyed because of China’s strong growth is unlikely to continue. But we will still enjoy healthy terms of trade with China.”
BT is the wealth management arm of The Westpac Group and has been operating since 1969.
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Australian property bubble argument misguided: BT Group

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A shopping centre in South Grafton NSW has sold for $5.8 million.
Some 250 kilometres south of Brisbane and 500 kilometres north of Sydney,  the <a target="_blank" href="https://www.realcommercial.com.au/property-retail-nsw-south+grafton-5754484">South Grafton Shopping </a>will have an initial passing yield of 10.68%.
It was bought by a Sydney-based private investor.
The un-enclosed centre, anchrored by Bi-Lo has a total lettable area of 3,297 square metres. Its tenants also include a pharmacy and six specialty shops. It has parking for 162 cars.
It was originally built in 2002. It has frontages to Bent Street and Bligh Street.
The fully leased net operating income of the 1 hectare site is approximately $608,462 per annum.
It was sold by Knight Frank agent Ben Stewart on behalf of Denison Funds Management, part of Metro Property Syndicate.
South Grafton neighbourhood shopping centre, anchored by a Bi-Lo Supermarket, has sold for $5.8 million, reflecting an initial passing yield of 10.68 per cent. The sale of South Grafton Shopping Centre to a Sydney-based private investor was negotiated by Ben Stewart of Knight Frank, on behalf of Denison Funds Management, as responsible entity of Metro Property Syndicate. The property, prominently located on Bent Street South Grafton, has a total lettable area of 3,297sq m. In addition to Bi-Lo Supermarket, the centre houses Guardian Pharmacy and six additional specialty shops with car parking for some 162 vehicles.
Stewart says the centre is a well-located secure retail investment opportunity.
“There continues to be strong interest from purchasers for convenience based retail investments such as this. The culmination of lower borrowing costs and somewhat limited supply of quality centres has resulted in competitive offers for some vendors” Stewart says.
It had been on the market since September last year.
According to Denison there were four interested parties. Settlement is on December 19.
Denison is currently involved in a stoush over the future of the 360 Capital Industrial Fund, with mooted plans to list the $345 million fund on the ASX.
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South Grafton Shopping Centre sells with 10.68% yield.

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Foreign investment in commercial real estate has increased significantly, according to the latest foreign investment report by Colliers.
Foreign investors accounted for 67% of all commercial property transactions in Australia in the third quarter of 2012, compared with just 30% in the same quarter the year before.
Canada contributed more than half of the $1.88 billion of foreign sales in the quarter with a single transaction – the Canada Pension Plan Investment Board invested $1 billion into Sydney’s Barangaroo development.
Another big player in the quarter was also a pension fund – the Korean-based National Pension Service signed a $360 million joint venture partnership with DEXUS, which will co-invest in a number of industrial properties at Greystanes in NSW and Laverton North and Altona in Victoria.
The $1.88 billion of foreign investment was spread over 32 assets and bought the total amount of foreign commercial property transactions to $6.3 billion for 2012 so far.
Colliers found the largest direct transaction during the third quarter was the $105.1 million sale of the 29-storey B-grade office building at 6-10 O’Connell Street in Sydney. It was bought by the Singapore-based investment firm MGPA, its first foray into the Australian property market.
Office purchases made up 78% of foreign investment in commercial property during the third quarter. Foreign investors spent $1.5 billion on offices over 12 sales – the Baranagaroo deal as well as an additional $470 million of sales, which include the $66 million purchase of 100 Brookes Street in Fortitude Valley by the US-based Hines Global REIT.
After the office market, foreign investors were most active in the industrial sector. Foreign investors, primarily from Asia, spent $180 million over 13 industrial sales, mostly into Victoria.
This was followed by the hotel sector, where offshore buyers spent $152 million across three assets – the Palazzo Versace Gold Coast, the Rendezvous Grand in Melbourne and the Hotel Enterprize in Melbourne. These were by Singaporean and Chinese buyers.
And the fourth biggest sector was in retail where foreign buyers, primarily from Europe spent $85 million over four retail purchases, including Pittwater Place at 10 Park Street, Mona Vale, which was bought for $56.6 million by German investment firm RREEF.
Foreign investment was led by pension funds and investment managers, accounting for 63% and 13% of foreign investment during that period. A number of REITs were also active in the market accounting for 12% of investments, the largest being K-REIT’s funding arrangement with Mirvac while Hines Global REIT also continued to acquire assets.
The report found offshore private investors have increased their level of activity in Australian commercial property with $103 million worth of investment, making up 5% of offshore inflows during the period.
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Foreign investment in Australian commercial real estate up significantly: Colliers 

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Affordable housing in Melbourne is only available in fringe suburbs, with inner suburbs out of reach for most investors and all but the wealthiest first-time home buyers, according to a state government report.
The discussion paper titled Melbourne let’s talk about the future says Melbourne needs to address affordable housing in the city.
“We have an ageing population, those heading towards retirement have reduced wealth, and housing stress is a chronic problem for about 10% of households,” Planning Minister Matthew Guy says.
“Almost all of the city’s most affordable housing is in the outer suburbs with the inner suburbs out of reach to many renters and all but the wealthiest first-home buyers.”
The report finds a dramatic reduction in housing affordability over the last decade means home buyers now have less choice about where they can buy a home.
“People with less money to spend (who are at greater risk of mortgage stress) can only buy in Melbourne’s outer suburban fringe if they want to own a detached house.”
And the report finds that while the cost of the house itself is often lower in outer areas, transport costs can negate some of these savings.
More people are at risk of mortgage stress with the number of people fully owning a dwelling dropping from 40% to 30% over the last 20 years while the number of people paying off a mortgage has risen from 30% to 35%.
The report finds low-income single-person households face the most difficulties renting affordable housing.
In the March quarter, just 0.3% of one-bedroom dwellings let would cost no more than 30% of gross to a single person solely reliant on Centrelink payments.
“Without action the cost of buying or renting a house in Melbourne is likely to rise in the years ahead, particularly in established suburbs. The cost of a dwelling in the middle suburbs of Melbourne needs to be reduced if we are to have any prospect of providing an opportunity to a wider range of the population to live in these areas, and greater socioeconomic diversity in existing neighbourhoods,” Guy says.
With renters facing the most difficult affordability conditions Guy proposes a number of changes to improve affordability.
He says affordable living could be addressed by:
<ol>
<li>Increasing housing supply;</li>
<li>Reducing the cost of building;</li>
<li>Reducing barriers to affordable housing development;</li>
<li>Preserving or offsetting the loss of existing low-cost housing;</li>
<li>Encouraging new affordable housing with planning scheme controls or incentives;</li>
<li>Securing dedicated social housing – housing rented at below market cost;</li>
<li>Increasing the number of jobs in suburban areas, to reduce commuting distances and times for suburban residents;</li>
<li>Reducing the need to own a second car and even any car per household by improving cycling, walking and public transport options; and</li>
<li>Other incentives to integrate affordable housing into new developments.</li>
</ol>
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Matthew Guy's nine-step plan to addressing housing affordability in Melbourne

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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