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Dramatic house price growth in central Queensland’s mining regions appears to have stabilised, according to Herron Todd White’s latest report.
The July Month in Review report found prices in Mackay, Rockhampton and Gladstone remained steady in recent months.
The report found a large number of residential properties have come onto the market in Gladstone and suggested some prices would have to be reduced in order to achieve sales.
An influx of worker accommodation over the next couple of years is said to be contributing to lower confidence in the area.
“Consequently we highlight the potential for market correction following the construction of major LNG projects and therefore do not foresee further large increases in capital growth,” Herron Todd White says.
Future workforce numbers in the area are hard to predict, and the report says housing demand may change.
In Mackay rentals figures have grown in the last six months, resulting in increased demand for the sub-$450,000 market from owner-occupiers avoiding paying rent and keen investors cashing in on rental increases.
And in Rockhampton the median sale prices has remained steady over the past 24 months.
The report found sales volumes in the under-$350,000 price range have improved in the first half of 2012 due to buyers enjoying affordable investment houses and low vacancy rates.
However, the prestige housing and coastal unit markets have suffered over recent years, with extended selling periods and reduced list prices required to secure a sale.
For more information on buying in Queensland mining hotspots, read our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom">Property investing in Queensland’s resources boom</a>
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Central Queensland mining region house price growth stabilising: Herron Todd White

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Mining railway lines bring big construction employment and housing requirements with them.
There were estimates of 1000 workers required for the rail infrastructure build over three years of Waratah Coal's Galilee Basin China First Project and then by way of permanent operational employment around 460 for operation/maintenance of rail infrastructure 
Queensland’s Gailee Basin is one step closer to securing a mining rail line, with Indian mining group Adani and coal carrier QR National undertaking a feasibility study for its rail corridor.
Adani’s mine is expected to begin digging operations in July 2013 at an expected cost of around $4 billion.
Rail lines are said to be the main hurdle for development in the relatively untapped Galilee Basin. Five mines in the area could produce more than 200 million tonnes of coal a year if it can be transported.
By 2016 the $6 billion line would connect Adani's Carmichael coal mine to the Abbot Point Coal Terminal and possibly the future Dudgeon Point Coal Terminal.
The line would handle 60 million to 80 million tonnes of coal per year from Adani’s $10 billion mining project.
Last month the state government approved work on two lines in the area – one direct to the port at Abbot Point, touted by Indian coal miner GVK, and Adani’s proposal for a smaller track to connect with QR National's existing railway network in the Bowen Basin.
After the approval the ABC reported land owners were concerned about the projects.
Land owners in the path of the proposed lines could face compulsory acquisition.
Coal from the mine is destined for power stations in India.
The study is expected to be completed by March 2013.
For information on investing in mining areas, read our free book <a href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom">Residential property investment amid Queensland's resources boom</a>.
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Rail line for Queensland’s Gailee Basin mooted, with feasibility study underway 

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A 125-year-old former bank in Maitland NSW has sold after four years on the market at $1.25 million.
Built in 1887 at a cost of £20,000, the three-storey, former CBC bank was designed by George Allen Mansfield in the Italianate Classical Revival style, and the property bears his name.
The heritage-listed property is one of 53 buildings he designed for Commercial Banking of Sydney Ltd.
From 1888 to 1990 Mansfield was used exclusively as banking chambers by CBC Bank and later NAB.
A local citizen bought the property in 1990 and for eight years the ground floor remained vacant and boarded up, while the upper floors were intermittently leased out as office space, according to Heritage NSW documents.
<img src="/images/stories/maitland1.jpg">
Heritage NSW says this had the fortuitous effect of preserving the internal architecture of the original banking chambers.
The current owners, John and Barbara Murphy, bought the property in 1998 for $350,000.
They immediately set about restoring the property to set up a function centre and bed and breakfast business.
The sandstone building features terrazzo chequer-tile flooring, ornate cedar polished doors and windows, two large Doric marble columns, two large granite fireplaces, original embossed plaster ceilings, a wide cedar staircase and sandstone-arched windows.
<img src="/images/stories/maitland2.jpg">
A large amount of cedar wood was used in the construction, which was sourced from the nearby Paterson township in the 1880s.
While on the market the building has continued to operate as a $500 a night function centre with its grand foyer, function rooms, dining room, bar, former kitchen area and cool room. The main function room has seven-metre ceilings.
Upstairs the building has been used as a residence. Over the two upper floors there are 10 bedrooms, multiple bathrooms and kitchen facilities.
<img src="/images/stories/maitland3.jpg">
The property sits on 1,909 square metres and has a landscaped courtyard garden.
John Laws reportedly started his radio career here, when the top floor was used as a broadcasting room, according to former employee Ian S. Watts.
Watts says the bank was robbed in 1983 by two men who hid in the bank overnight. In the morning staff were bound and gagged and threatened with sawn-off shotguns.
Maitland was started as three separate settlements West Maitland, Morpeth and East Maitland which were amalgamated into the City of Maitland in 1945
Until the late 1800s Maitland was the predominant commercial and economic hub of the Hunter Valley, outstripping the penal settlement of Newcastle.
Agent Michael Maffey from Tony Cant Real Estate Maitland sold the property in April. The last asking price was $1.9 million plus, with the asking price having steadily decreased from $2.4 million in 2008.
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Century-old former Maitland bank finally finds buyer after four years on the market

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The two most expensive sales of the week were whole-floor units in the same building in Queensland’s Kangaroo Point.

The 15-level 1 Scott Street building sits on the south bank of the Brisbane River near the Story Bridge. The fifth-storey apartment (pictured above) sold for $4.13 million, and the 10th-storey apartment (pictured below) sold for $4.62 million.

The near-identical apartments sold on the day the tender closed. They were bought by locally based owner-occupiers. The project approval was secured by the Brisbane developers Waterford Properties with a design by architects Jackson Teece and construction by Hutchinson Builders.

Agent Denise Gustafson from Style Estate Agents says there are no more apartments left in the 2011-built building, with all 12 selling for between $4 million and $8 million.

The apartments were held off the market last year to see if the economy improved. Gustafon says this year there has been a campaign with two tenders every five weeks.

The apartments are both 432 square metres, including a 116-square-metre balcony.

NSW dominated the rest of this week’s 10 most expensive property sales, taking six spots on RPData’s list.

Four-bedroom houses featured strongly on the list, accounting for five of the sales. The remaining positions were taken by a three bedroom unit, a three bedroom house and a five bedroom house.

All of the properties sold for more than $2 million, with four of the 10 sold at auction.

1. 110/1 Scott Street, Kangaroo Point, QLD, 4169, three-bedroom unit, sold on June 29 by Style Estate Agents Brisbane for $4,62,381

2. 105/1 Scott Street, Kangaroo Point, QLD, 4169, three-bedroom unit, sold on June 29 by Style Estate Agents Brisbane for $4.13 million

3. <a href="https://www.myrp.com.au/n/143-seaforth-crescent-seaforth-nsw-2092/myrp-490?propertyId=6144382">143 Seaforth Crescent, Seaforth, NSW, 2092</a>, four-bedroom house, sold on June 28 by Richardson &amp; Wrench Seaforth for $3.4 million

4. <a href="https://www.myrp.com.au/n/63-govett-street-randwick-nsw-2031/myrp-490?propertyId=5754488">63 Govett Street, Randwick, NSW, 2031</a>, four-bedroom house, sold at auction on June 30 by McGrath Estate Agents for $2,605,000

5. <a href="https://www.myrp.com.au/n/86-ellery-parade-seaforth-nsw-2092/myrp-490?propertyId=6140389">86 Ellery Parade, Seaforth, NSW, 2092</a>, five-bedroom house, sold at auction on June 28 by Belle Property Manly for $2.465 million

6. <a href="https://www.myrp.com.au/n/1-bulkara-road-bellevue-hill-nsw-2023/myrp-490?propertyId=1368562">1 Bulkara road, Bellevue Hill, NSW, 2023</a>, four-bedroom house, sold at auction on June 28 by Elders Real Estate Double Bay for $2.3 million

7. 5/17 Greenoaks Avenue, Darling Point, NSW, 2027, three-bedroom unit, sold on June 27 by 1St City Hasemer + Caldwell Eyles for $2.25 million

8. <a href="https://www.myrp.com.au/n/3a-walter-street-claremont-wa-6010/myrp-490?propertyId=11864322">3A Walter Street, Claremont, WA, 6010</a>, four-bedroom house, sold on June 26 by Paxton Hoad for $2.175 million

9. <a href="https://www.myrp.com.au/n/52-wolseley-road-mosman-nsw-2088/myrp-490?propertyId=4512487">52 Wolseley Road, Mosman, NSW, 2088</a>, three-bedroom house, sold prior to auction on June 28 by L J Hooker Mosman for $2.15 million

10. <a href="https://www.myrp.com.au/n/23-elizabeth-street-elsternwick-vic-3185/myrp-490?propertyId=10894555">23 Elizabeth Street, Elsternwick, VIC, 3185</a>, four-bedroom house, sold at auction on June 30 by Biggin &amp; Scott Real Estate Elsternwick for $2,101,000

 

More apartments in Brisbane you may like

[smartcode_project:default project_id=90553]

[smartcode_project:default project_id=94607]

 
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Two whole-floor Brisbane apartments the most expensive sales of the week: RP Data

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Lend Lease’s timber development Forté in Docklands is gaining height at a rapid pace in the latest update to our photographic survey of the site.
<img src="/images/stories/2012/06/fortejune1.jpg">
Work on the project began four weeks ago, and the development is already taking form.
Unveiled in May, the building is due to be the world’s tallest wooden residential building.
It appears to have started on parts of its fourth storey. It was at level one when the first photos were taken. Four weeks later it’s now getting closer to its eventual height of 32 metres.
<img src="/images/stories/2012/06/fortejune4.jpg">The $11 million building will be Australia’s first timber high-rise building. Set on an elevated concrete podium, the building will rise to 10 levels and will be built with prefabricated wooden panels made from cross-laminated timber and will feature 23 apartments.
Site work commenced in February with a targeted completion date of October – quicker than it takes to build some single-family houses.
<img src="/images/stories/2012/06/fortesite3.jpg">Forté's progress as of June 8
<img src="/images/stories/2012/06/fortejune3.jpg">
Forté's progress as of June 29
{module Would you buy an apartment in a timber building?} 
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Lend Lease’s Forté, set to be world’s tallest timber high rise, towering quickly

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The buyers of units in Gold Coast’s troubled high-rise development Oracle have been knocked back in their second bid to escape contracts.
They had been trying to exit their contracts with South Sky Investments Ltd to buy the units, arguing that the change of letting managers and name of the development constituted a breach of contract.
The appeal by six buyers against a previous ruling in the Supreme Court was dismissed by Court of Appeal Justice Margaret McMurdo.
They originally purchased units in Tower 1 of the Oracle development but before settlement, Peppers Retreat, Resorts and Hotels was given letting rights to the tower and tower was to be renamed Peppers Broadbeach.
Supreme Court Justice John Muir said there was no evidence that the value of an apartment would fluctuate any more if the letting business was conducted by Peppers as opposed to any other manager.
The six buyers argued “the change from ‘The Oracle’ to ‘Peppers Broadbeach’ denotes a change from an independently recognisable (‘branded’) apartment tower to a hotel/resort in a chain of hotel/resorts,” McMurdo wrote in her ruling.
“There was no suggestion in the evidence … that The Oracle was a name which carried with it any particular attraction for purchasers or that the failure to use it exclusively or predominantly to identify Tower 1 would result in any detriment to the appellants.
“The mere fact that a development is given a name and that name is used in promotional and contractual documentation says little, if anything, about whether there is to be found in the contract an implied promise that the name will be used in respect of the completed building.”
Sales in the $700 million development have picked up recently, led by interest from local buyers. Gold Coast residents have bought $20 million worth of the 505 apartments.
The development has been in the hands of receivers KordaMentha since December 2010 after the Nikiforides family's Niecon business ran into trouble when a financier withdrew from the project.
The appeal was dismissed with the appellants paying all costs.
The appellants were John Maclain Gough and Norma Patricia Groves; Derick Brisley and Debbie Brisley; Jeffrey Aiden Wicks and Julie Kathryn Wicks; Patricia Gaye Ryan; Vicki Anne Taylor and Jennifer May Ferguson; and John Clifton Parsons and Dorothy Anne Parsons.
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Buyers of Gold Coast’s Oracle not allowed to escape contracts over name change

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Mining tycoon and eccentric billionaire Clive Palmer has spent $10 million on the former Club Med resort at?Bora Bora in Tahiti, French Polynesia.
The 30-hectare resort has 150 rooms, a 200-seat theatre and a private bay. It comes with four villas and 46 staff units. It was marketed by CBRE Hotels.
Palmer told Fairfax he had no plans to refurbish the resort yet, but that the resort does hold development potential.
He says he bought the property for “relaxation, serenity and because no?one else was going to buy it”.
“I will bring my family here – it’s one of the most beautiful places on Earth.”
He says he will be staying at his resort next month when attends the Asia-Pacific Forum, set up to discuss the promotion of socio-economic development and growth in the Pacific islands.
The purchase is the latest in a series of tourism related acquisitions and plans by Palmer.
Last year he bought the Hyatt Regency at Coolum in the Sunshine Coast.  He has also bought the <a target="_blank" href="https://www.propertyobserver.com.au/leisure/clive-palmer-buys-distressed-golf-courses-at-discount/2011092051616">Robina Woods and The Colonial golf courses at Robina</a> for $7 million and this year his Gold Coast purchases has totalled $6 million.
He told Fairfax the Bora Bora purchase is unlikely to be the last. “I’ll take a look at anything.”
The club was shut down by owners Club Méditerranée SA in 2009.
The resort is set in Faaopore Bay on the south coast of Bora Bora, 250 kilometres from Tahiti. Parisian interior designer, Christian Liaigre worked on the internal furnishings, borrowing themes from the island tattoos.
Celebreties who stayed there include Ringo Starr, Harrison Ford, Meg Ryan, Patrick Swayze, Senator John McCain, Janet Jackson, Pierce Brosnan, Drew Barrymore and Cameron Diaz.
Prices ranged from $200 to $375 per night to stay at the all-inclusive resort.
The rooms are a mix of stand-alone and duplex bungalows and two-storey, motel-style buildings, though the beachfront bungalows were the preferred choice for holiday makers.
CBRE’s marketing in 2009 said the property is a “world-class resort destination offering scenic beauty, political stability and high-quality resort product”.
The deal comes after Palmer’s failed attempt to buy <a target="_blank" href="https://www.propertyobserver.com.au/leisure/chinese-mining-tycoon-beats-clive-palmer-to-acquire-lindeman-island-with-plans-to-redevelop/2012042554429">the Club Med in Lindeman Island in the Whitsundays,</a> when he was outbid by a Chinese mining tycoon.
Photograph by Thomas Wasserberg, courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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Clive Palmer buys former Club Med resort in Bora Bora for $10 million

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Sydney’s Landmark Randwick development has had a surge in off-the-plan investor interest driven by the upcoming changes to stamp duty concessions.
David Gray of agency Mint360property says the weekend’s sales launch was the biggest rush to he’s ever seen in the east.
The NSW government’s home builders’ bonus, which provides stamp duty exemption for buyers of new property under $600,000, expires on July 1.
<img src="/images/stories/2012/06/mint1.jpg">
Mint360property marketer Arthur Perdis says almost all of the 70 groups that came to the launch put in an offer. He says 70% of the buyers were owner-occupiers.
Of the 42 one-bedroom apartments building, 32 sold on the day. All seven of the two-bedroom, one-level apartments sold. Eight of the 16 two-storey two-bedroom Skyhomes sold.
<img src="/images/stories/2012/06/mint2.jpg">
One-bedroom and one-bedroom plus study apartments cost $550,000 to $650,000, the most popular range.  Two-level two-bedroom apartments cost $700,000 to $800,000. And the Skyhomes cost $750,000 to $800,000.
Mint360property’s Diane Goncalves says buyers were driven by changes in stamp duty concessions. She says buyers saved up to $22,490 by buying this week instead of next.
Landmark Randwick is a 117 apartment low-rise residential development in Randwick by developer Zonie Property Group. The building is one kilometre from Coogee Beach and shopping centre The Spot.
The four-building site occupies 4,900 square metres over a three-street frontage on the eastern side of Avoca Street.
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Mint360 secures rush of fresh sales as Landmark Randwick launches

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Gaetjens Real Estate in Adelaide that was established in 1866, ranks the fourth oldest estate agency on Property Observer’s list. The agency is run by 86-year old Ken Gaetjens – great-grandson of Herman Gaetjens, who married into the agency in 1886.
It was added after <a href="https://www.propertyobserver.com.au/industry-news/the-oldest-real-estate-agencies-in-australia-as-ray-white-%E2%80%93-by-no-means-the-oldest-%E2%80%93-marks-110-years/2012062555079" target="_blank">Monday’s look at Australia’s oldest real estate agencies</a>, when a reader wrote in with the addition to the list.
It was originally founded by Adolph Heinrich Bartels and Christoph Meyer. Bartels was the mayor of Adelaide from 1871 to 1873. The agency was called Bartels &amp; Meyer before Herman Gaetjens acquired the business.
Danish-born Herman Gaetjens arrived in Australia from Denmark in 1860 and later became the mayor of Henley Beach.
Ken says six generations of the Gaetjens family have worked in the agency. His son and grand-daughter currently work at the agency.
“The game will still keep going,” he says.
Ken joined the agency in 1946 after coming out of the Air Force. He joined his father Arthur, who had been working there since 1912.
Ken Gaetjens says many members of the Gaetjens have been presidents of the Real Estate Institute of South Australia. Ken was president from 1978 to 1979.
Fittingly, the company specialises in selling property for the over-50s. The agency charges pensioners a discounted rate to sell their home and help them find retirement accommodation.
The title of Australia’s oldest real estate agency is claimed by Elders, established by Alexander Lang Elder in Port Adelaide in 1839.
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South Australia’s Gaetjens Real Estate among the oldest agencies in Australia

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In this week's list of Australia's most discounted properties by SQM Research, we say goodbye to the long-running Thornleigh home. The four-bedroom Paling Street home finally sold after three years on the market. The price was withheld but it had been discounted by $400,000 and was advertised around the $700,000 mark. 
SQM director Louis Christopher says whoever bought the property secured themselves "potentially quite the bargain".
This week's list contains a mixed bag of properties, with only Northern Territory and ACT not appearing. The top discounted property remains unchanged from SQM's last list, a three bedroom horse property in Cedar Creek, Queensland. It has been on the market for 307 days and has been discounted 41%.
The only newcomers to the list are in Queen Street, Brisbane and White Beach, Tasmania. The Brisbane unit has been on the market since February 2010 and has reduced its asking price from $1.85 million to $1.15 million.
 
1
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009160249">27 Shaws Pocket Road, Cedar Creek, Queensland, 4207</a>
On the market since: August 15, 2011
Initial asking price: $1.19 million
Current asking price: $699,000
Reduction: 41%
Days on market: 307
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106542744">11 Pyrites Road (via Nairne), Brukunga, SA, 5252</a>
On the market since: May 23, 2010
Initial asking price: $253,000
Current asking price: $155,000
Reduction: 39%
Days on market: 755
 
3
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-moonee+ponds-107312818">60 Margaret Street, Moonee Ponds, Victoria, 3039</a> 
On the market since: April 9, 2011
Initial asking price: $1 million
Current asking price: $620,000
Reduction: 38%
Days on market: 434
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">4</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008435199">502 Tarni Court, Port Adelaide, SA, 5015</a>
On the market since: January 28,2010
Initial asking price: $725,000
Current asking price: $450,000
Reduction: 38%
Days on market: 721
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105812631">1892 Stapylton Jacobs Well Road, Jacobs Well, Queensland, 4208</a>
On the market since: July 12, 2009
Initial asking price: $515,000
Current asking price: $320,000
Reduction: 38%
Days on market: 1,070
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.%20realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106865330">673/420 Queen Street, Brisbane City, Queensland, 4000</a> (pictured)
On the market since: February 10, 2010
Initial asking price: $1.85 million
Current asking price: $1.15 million
Reduction: 37%
Days on market: 518
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">7</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488" target="_blank">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
On the market since: January 16, 2011
Initial asking price: $2.95 million
Current asking price: $1.85 million
Reduction: 37%
Days on market: 518
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228" target="_blank">15 Gretel, Two Rocks, WA, 6037</a>
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 903
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,460
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.%20domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008590367">21 Fox Avenue, White Beach, Tasmania, 7184</a>
On the market since: September 27, 2010
Initial asking price: $170,000
Current asking price: $110,000
Reduction: 35%
Days on market: 630
 
SQM Research also offers a list of the <a title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
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Brisbane apartment makes debut in sixth place on SQM most discounted list

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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