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A Townsville mansion owned by the founders of collapsed Storm Financial Services, Emmanuel and Julie Cassimatis, has been listed for auction next week.
The eight-bedroom home has failed to sell at the family’s asking price of $3.8 million ever since first being listed in 2006.
The sale highlights the demise of the couple, who oversaw the loss of $3 billion of investors’ money in 2009. They have since sold their private jet and a similar property in Brisbane, which went for $2 million this year. The Cassimatis couple are charismatic socialite figures in Townsville, with the mansion once representing the financial success of Townsville business.
This 900-square-metre property, which sits on an 1,854-square-metre block, features a $75,000 Waterford crystal chandelier, lifts, two swimming pools, four bathrooms and has views over Magnetic Island, Cleveland Bay and the Townsville CBD.
Its listing agent Garry Byrnes from Ferry Property Townsville has had the Melton Terrace listing on and off the market since 2009. 
It has been reported the current price guide is now about half the original asking price of $3.8 million, although Byrnes has been responsible for the town's most recent prestige house sale.
The agent's marketing says " Under strict instruction from the owners, this property is to be sold."
The property has not been lived in for many months. 
It was originally bought for $280,000 in 1997. 
It has been reported the current price guide is now about half that, although Ferry Property agent Garry Byrnes has been responsible for the town's most recent prestige house sale.
 It was a three-level Stanton Terrace property sold for $2.85 million in 2010. 
The ASIC website notes ASIC's investigations into the collapse of Storm continues.
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Cassimatis property for auction three years after Storm collapse

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{yoogallery src=[images/stories/november11highrd]}
Khazzoum, a recently completed West Pennant Hills house, has been listed with high price hopes for the Hills district.
The three-storey sandstone Highs Road home was designed by Bennett Murada Architects.
It was built by Sarkis Bros Sandstone, who named the house in honour of their late mother.
It’s a suitable tribute given it’s a six-bedroom, five bathroom house – and she was a mother of 10.
There are four of her children working in the business, which was founded in 1993.
Khazzoum is set on an expansive 2,400 square metres of landscaped gardens with a sandstone sided swimming pool and a gas-heated spa.
The house has a three-car garage and a wine cellar.
It boasts sweeping views across the whole Sydney basin but you won’t have to climb any stairs to reach the vantage point as the house has its own lift.
Mechlenne Douaihy from McGrath Estate Agents is seeking offers by November 25.
She is hopeful to secure $3.5 million plus – maybe even $4 million.
A nearby Hoop Pine house that set a northwest price precedent sold for a bullish $4.1 million in March 2010 but it was a private sale without agents. The suburb’s next highest property was $3.35 million for a five-bedroom home in August 2008.
“It’s an outstanding full sandstone residence unparalleled to other new homes in the Hills District,” Douaihy says.
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Pride of the Hills district to test prestige market in West Pennant Hills

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Confidence among mortgage holders has soared following the November rate cut by the Reserve Bank, according to the Westpac Melbourne Institute Index of Consumer Sentiment, which improved in November.
Westpac chief economist Bill Evans says the significance of the rates decision is most apparent from the breakdown in responses among home owners.
“Confidence amongst those folks which have a mortgage soared by 13.9%; and people who own their house mortgage free boosted their confidence by 6%,” Evans notes.
“The Index is now indicating that optimists slightly outnumber pessimists for the first time since June 2011 and this is the highest reading for the Index since May 2011.
“However it is still 6.7% below its level last year.”
Evans recalls that the index fell by 5.3% in response to the rate hike in November last year.
He says the changes follow the same pattern as 2008, when the Reserve Bank cut rates for the first time in that cycle.
When the bank stopped threatening rate hikes sentiment grew 9.1% and when the cuts were delivered that year sentiment went up another 6.3%.
In the past week the Westpac Melbourne Institute Index of Consumer Sentiment increased by 6.3% in November from 97.2 in October to 103.4 in November.
Although sentiment towards housing improved by a solid 6.5% in November, sentiment towards purchasing a motor vehicle was down by 3%.
The Reserve Bank Board next meets on December 6.
“Our view has been that the easing cycle which has now begun is likely to be much more measured than the one we saw in 2008, when rates were slashed by 300bps over four consecutive meetings,” Evans says.
“Accordingly, we would expect the next move to be in February next year when the Bank has had time to assess the impact of the first move; more information is available about the global economy; and further evidence is available on inflation.
“However, our interpretation of the bank’s recent statement on monetary policy is that it is troubled by developments in Europe and, due to a more downbeat assessment of the domestic economy, sees clear room to cut further.
“Developments overseas, as we saw in 2008, have the potential to move the next cut forward to December but, for now, our call remains that the next move will be 25bps in February with a further 50bps in cuts over the course of 2012,” Evans says.
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Mortgage holder confidence soars following November rate cut: Westpac

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Suburbs in Melbourne’s north, west and southeast are set to flourish under the Baillieu government’s $200 billion growth corridor plan, which aims to house 1 million people over the next 20 years.
The blueprint details plans to redevelop train infrastructure, build new major roads, revamp town centres, build 350,000 new homes and create jobs for 400,000 people as well as building new parks and environmental reserves.
The Growth Areas Authority has identified growth regions in the city’s fringe in which it will develop affordable housing close to shopping centres, schools, health services and jobs.
Planning Minister Matthew Guy told The Herald Sun the plan was a major project for Victoria.
“[The plan addresses] how the city will manage an extra million people over time,” he said.
“It can be done with improvements to transport, regionalising jobs in out suburban centres and better health and education facilities in those centres.
“You could potentially house up to 1.3 million people; you are looking at a plan the size of Adelaide.”
The northern suburbs faces major development, with four new town centres and Donnybrook and Beveridge each receiving new train stations and the Hume Freeway getting extra interchange access in the north and south of outer-metro ring reservations.
The western suburbs will have six new town centres and will have new regional rail link stations at Wyndham Vale and Tarneit with options at Truganina, Davis Road, Sayers Road and Wyndham Vale South. Toolern and Paynes Road will have new train stations, and Rockbank Melton line will be upgraded.
A possible new major outer metropolitan ring road is part of the part plan which would link the southwest with northeast.
Between them Sunbury looks to receive a new town centre and a train overhaul with rail electrification and possible new stations at Sunbury South and Sunbury North.
In the southeast two new town centres are planned, and Clyde will be added to the Craigieburn line. The plan will investigate better links between Cranbourne, Officer and Pakenham, including a new crossing at Cardinia Creek.
The plan was originally started by the former Brumby government to direct the development of the 43,600 hectares of land bought inside the Urban Growth Boundary under that government.
The work will be tendered out to major developers. It is not clear yet which developers have won a tender to carry out the work.
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A new Adelaide on Melbourne's outskirts: Baillieu government's growth corridor plans

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Lend Lease has appointed Michael Ullmer to its board as it announced increased profits but decreased revenue.
Ullmer stepped down as deputy group chief executive at National Australia Bank in August.
He also serves on the Fosters Group board.
Chairman of Lend Lease David Crawford welcomed Ullmer.
“Michael’s 30 year-career in international strategy and banking and his financial and executive management experience will be a valuable addition to the board,” Crawford told shareholders at the company’s annual general meeting.
Crawford reported an operating profit of $485 million for 2011, a 50% increase on Lend Lease’s $323 million operating profits in 2010.
Lend Lease’s revenue slipped 15% from 2010, decreasing from $10.57 billion to $9.014 billion.
Crawford reported the infrastructure business had a backlog of $6.3 billion including secured and pending work and was the preferred bidder on a further $1.2 billion of work.
He said statutory profit after tax for the year was $492.8 million.
Crawford said one of the most significant achievements was acquiring Valemus Australia, the parent company of Abigroup, Baulderstone and Conneq. He said the acquisition materially increased the group’s capabilities and activities in the engineering and construction market in Australia.
 
 
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Lend Lease announces increased profits but decreased revenue as Michael Ullmer joins board

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An 1870s Surry Hills residential warehouse – last traded in 2005 – has been listed for November 19 auction.

It was once a stable and coachworks and of recent times has had an interesting group of owners.

It’s been listed by the Domabyl family, who paid $3.2 million in 2005.

Its joins the recent production line of bulky inner-city warehouse conversions that have been offered for sale.

Many appear stuck on the market for lengthy periods of time. Several of the warehouse conversions have asking prices either going stale or being slashed.

They have traditionally been considered hot property, but the industrial conversions appeal to entrepreneurial types who don’t seem to have the same deep pockets as in the past.

<img src="/images/stories/warehouse_0000_bourke%20st.jpg.jpg">

Bresic Whitney listing agent Shannan Whitney expects more than $4 million for the three-bedroom <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-108398881" target="_blank">Little Bourke Street, Surry Hills</a> warehouse (pictured above) that has room for seven cars and includes a photography studio. His pricing is based on a recent nearby $4 million plus sale.

The Little Bourke Street warehouse listing fetched $1.105 million in 1989 when bought by the antique dealer Joan Bowers from Kings Cross identity Catherine O'Malley.

Bowers’ purchase was reportedly backed by Lord Alistair McAlpine whose then wife, Romilly, was in business with Bowers.

Bowers sold to Jennette Miller of Wahroonga for $1 million in 1993 through estate agent Margaret Blok. It next sold to the Domabyl family, who’ve put it on the market this month through Bresic Whitney.

<img src="/images/stories/warehouse_0003_oconnell.jpg.jpg">

Across town in Newtown, the 1920s<a href="https://www.realestate.com.au/property-house-nsw-newtown-107307549" target="_blank"> O'Connell Street warehouse</a> (pictured above) best known for its prior ownership by broadcaster Alan Jones remains listed for sale. The five-bedroom former Champion Textiles warehouse passed in at a May auction on a $3.7 million vendor’s bid. It’s still listed through Michael Harris at Raine and Horne Newtown.

Jones sold it in 2003 for $2.9 million to the current vendors, hotelier and former Newtown rugby league player Steve Bowden. The five-bedroom home came with space for a boxing ring used by boxer Danny Green. It’s also been a studio of the fashion designer Dion Lee.

<img src="/images/stories/warehouse_0005_sloane.jpg.jpg">

Still in Newtown there’s a <a href="https://www.realestate.com.au/property-house-nsw-newtown-108503221" target="_blank">Sloane Street warehouse listing</a> (pictured above). It was last sold in 1996 for $520,000 by ABC 7 o’clock news anchor Richard Morecroft, who converted the property. Film producer Matt Carroll is the current owner, and he’s had it on the market with an asking price of $2.35 million. It’s a  two-level, 218-square-metre space listed through Eric Lundberg from DB Property in Surry Hills. The similar adjoining property with 259 square metres of space went for $2.25 million in 2008.

<img src="/images/stories/warehouse_0006_sloane2.jpg.jpg">

A few doors up is another <a href="https://www.realestate.com.au/property-terrace-nsw-newtown-108499966" target="_blank">Sloane Street property</a> (pictured above) that has been on the market since May. The last reported sale of the unrenovated property was in 1984, when it sold for $115,000. It’s listed through Ian McPhee from Belle Property.

<img src="/images/stories/warehouse_0004_probert.jpg.jpg">

At Camperdown a <a href="https://www.realestate.com.au/property-studio-nsw-camperdown-106859765" target="_blank">Probert Street warehouse</a> (pictured above) with a commercial occupancy has been on the market since late 2007 through three real estate companies. It comes with an asking price of $2.6 million. It last changed hands in 1997 for $645,000. It’s set up as a live-in showroom but can be used as a two-bedroom abode. It’s listed through Joseph Gambino from The Edge Property Agency in Darlinghurst.

<img src="/images/stories/warehouse_0002_mclaughlin.jpg.jpg">

There is a Paddington conversion (pictured above) listed that last sold in February 2010 for $1.341 million and has been on the market since then. Before that the  <a href="https://www.realestate.com.au/property-house-nsw-paddington-107316144" target="_blank">McLaughlan Place property</a> sold for $1.25 million in 2008 when Aboriginal art dealers Hogarth Galleries sold up and moved out. Hogarth originally bought it in 1993 for $265,000. It’s listed through Darren Pearce from Bresic Whitney.

<img src="/images/stories/warehouse_007_abercrombie.jpg">

The owners of a <a href="https://www.realestate.com.au/property-house-nsw-chippendale-108473901" target="_blank">Chippendale unrenovated warehouse </a>(pictured above)  have been trying to lease their property since May this year. The Abercrombie Street property has five bedrooms and just the one bathroom. It’s currently being listed for sale through Adam Bodon from Deans Property in Broadway.

For warehouse conversions in Melbourne, <a href="https://www.propertyobserver.com.au/residential/port-melbourne-tops-list-of-five-special-residential-warehouse-offerings-in-melbourne/2011110952293" target="_blank">click here</a>.

<h2>Take a look at our latest Sydney listings:</h2>

[smartcode_project:default project_id=8590]

[smartcode_project:default project_id=28100]

[smartcode_project:default project_id=7758]
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Seven residential warehouse offerings in Sydney

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A guide for imminent and future retirees on superannuation investments has been released by ASIC.
<a target="_blank" href="#super">Financial Decisions at Retirement</a> helps people make informed decisions about super funds and investments and the financial choices available to people at retirement.
“It will help people decide what to do with their retirement nest egg. It has been extensively user-tested to ensure it meets the needs of people on the verge of retirement,” says ASIC chairman Greg Medcraft.
It details the basics of super funds including the different types available and how and when they can be accessed and then provides in-depth advice on financial decisions.
The guide includes tools for judging the performance of retirement investments, which gives advice on how to assess whether a fund will perform well.
It says past performance is no guarantee of future returns; today’s top-performing funds tend to fall back to the average over time, but consistent poor performance can prove hard to turn around.
As part of this guide it provides a worksheet for comparing three investment funds based on benefits, fees, insurance, investment options and performance.
An alternative to super fund companies is to run a self-managed investment fund, for which the guide recommends a minimum starting base of $250,000 to be successful.
An overview of investment strategies is presented that defines growth, balanced, conservative and cash strategies and how they distribute investment. The guide says growth funds, with their high percentage of investment in property and stocks, have historically given the best returns, and cash funds are only slightly better than inflation.
Many people work several jobs in their lives and opt for the default super funds in each instance, leading to many super accounts. The guide explores how to merge many super accounts and discusses how to find lost super funds. It says 6.4 million accounts totalling $12.9 billion are lost or in inactive accounts.
There are certain circumstances where access to super funds is granted before preservation age, and the guide lists these conditions, which can include severe financial hardship.
Alongside this launch ASIC has updated its <a target="_blank" href="https://www.moneysmart.gov.au/tools-and-resources/calculators-and-tools/retirement-planner?gclid=COWm2r2NqKwCFURNpgodvlD-1g">MoneySmart Retirement Planner</a>, an online calculator that shows people how to boost their retirement savings.
“The MoneySmart Retirement Planner provides people with an estimate of how much they are likely to have in every year of retirement and even calculates the best way to make extra super contributions,” Medcraft says.
The calculator works out your super balance at retirement and then works out the impact of fees and additional contributions on that balance.
“People need reliable and trustworthy information to help them make confident and informed choices for their retirement money. The new tools are easy to use and empower people to get the most out their retirement income,” says Paul Clitheroe, chairman of the Australian Government Financial Literacy Board.
 
 
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ASIC releases super guide and compares SMSF with other funds

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The traditional mid-spring surge in property listings didn’t happen this year in Melbourne, with October listings increasing only 3.3% from September.
Melbourne’s listings increased from 49,613 to 51,265 in October, according to a report from property research group SQM Research.
In Sydney the number of listings increased by a muted 2% (to 35,682), and listings were up just 0.4% across Australia.
Listings were down in three capital cities, with Brisbane down 3.4% to 30,249, Perth down 2.5% to 20,000 and Darwin down 2% to 1583.
Perth was the only city to report a drop in annualised listings from October 2010.
“This might actually be the peak in stock levels for this cycle,” SQM managing director Louis Christopher says.
“I note that Perth is now recording falling listings and Brisbane is now recording signs of stock numbers peaking.
“I suspect Sydney may record a peak this month as well.”
“The Melbourne results are deeply concerning, particularly in light of the fact that we know there is still much dwelling construction yet to be completed,” Christopher adds, repeating his concerns from September's figures.
Hobart was the only city with significant increases in property listings in Australia and had an increase of 20% over September figures, to 4316 listings.
“That seems to be consistent with some of the house price falls recorded in the September quarter for [Hobart],” Christopher says.
Canberra’s new listed property went up 7.3% in the month to 1,995 and Adelaide's rose 8% to 17,948 in October.
The report did show a 14.5% national increase in October listings from 2010 but this a modest increase when compared with other months this year.
Homes offered for sale climbed to 383,217 in October from 334,575 a year ago, the Sydney-based research group says.
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No October listings surge except in Hobart and Adelaide

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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;

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.”

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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.

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Alistair Walsh

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