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<a href="https://www.propertyobserver.com.au/new-south-wales/surry-hills-millionaires-show-a-flair-for-pricey-warehouse-conversions/2012022653560" target="_blank"><img src="/images/stories/5point71.jpg"></a>
The <a href="https://www.propertyobserver.com.au/new-south-wales/surry-hills-millionaires-show-a-flair-for-pricey-warehouse-conversions/2012022653560" target="_blank">record-setting price for a Surry Hills warehouse conversion </a>that sold to a McMahons Point couple. It eclipsed the previous record Surry Hills warehouse sale of $4 million.
 
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<a href="https://www.propertyobserver.com.au/queensland/hotspot-high-yields-and-price-growth-in-moranbah-but-best-time-to-buy-may-have-passed/2012022753563" target="_blank"><img src="/images/stories/29.gif"></a>
The <a href="https://www.propertyobserver.com.au/queensland/hotspot-high-yields-and-price-growth-in-moranbah-but-best-time-to-buy-may-have-passed/2012022753563" target="_blank">capital growth for house prices in Moranbah during 2011</a>. Hotspotting.com.au director Terry Ryder says there will be further price growth in the Queensland mining town, but believes that the best time to buy was 18 months ago before the growth in prices and rents gathered pace.
 
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<a href="https://www.propertyobserver.com.au/economy/major-becoming-banks-more-profitable-and-more-liquid/2012022753569" target="_blank"><img src="/images/stories/1point11t.jpg"></a>
The <a href="https://www.propertyobserver.com.au/economy/major-becoming-banks-more-profitable-and-more-liquid/2012022753569" target="_blank">combined mortgage lending books of the major four banks</a>. The combined mortgage books of all 56 Australian banks is $1.27 trillion, so the big four certainly have the lion's share.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/arncliffe-leads-sydney-suburbs-on-rp-data-top-100-hotspot-list/2012022753582"><img src="/images/stories/16point3per.gif"></a>
The increase in <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/arncliffe-leads-sydney-suburbs-on-rp-data-top-100-hotspot-list/2012022753582">median dwelling prices in Arncliffe during 2011</a>. Arncliffe leads Sydney suburbs on RP Data's list of hotspots. 
 
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<img src="/images/stories/100m.gif">
The <a href="https://www.propertyobserver.com.au/residential/christopher-joye-reignites-his-%24100-million-housing-challenge-to-jeremy-grantham/2012022953613" target="_blank">housing challenge offered by Rismark International director Christopher Joye to American GMO founder Jeremy Grantham</a>. Grantham seems to be tiring of the argument but maintains that Australia's housing price bubble is going to bust. Joye invites him to put his money where his mouth is and "short" the Aussie property market.
 
<hr>
<a href="https://www.propertyobserver.com.au/developments/controversial-double-bay-high-rise-hits-the-market-in-new-twist-to-four-year-saga/2012022953628" target="_blank"><img src="/images/stories/78.gif"></a>
The number of apartments planned for the <a href="https://www.propertyobserver.com.au/developments/controversial-double-bay-high-rise-hits-the-market-in-new-twist-to-four-year-saga/2012022953628" target="_blank">controversial redevelopment of the Double Bay Ritz Carlton/Stamford hotel</a>. The site is back on the block, with Kevin McCabe’s Scarborough Pacific Group listing the residential high-rise development prospect.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-leads-slight-rebound-in-capital-city-house-prices-in-february-rp-data-rismark-daily-index/2012022953636"><img src="/images/stories/2per.gif"></a>
The increase in <a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-leads-slight-rebound-in-capital-city-house-prices-in-february-rp-data-rismark-daily-index/2012022953636">Melbourne house prices in February 2012</a>, according to RP Data's new hedonic daily housing price index. Dwelling prices were up 0.8% in February across all capitals. 
 
 
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cknowlton-QnEa6ntUYP

The 7 must-know numbers of the week

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There's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Melbourne properties going to auction this week in round seven (last week the competition was temporarily suspended due to the Easter holidays) is <a target="_blank" href="https://www.realestate.com.au/property-house-vic-mont+albert-109965946">99 Windsor Crescent in Mont Albert</a>, being auctioned by Marshall White.
"The three-bedroom family home sits on a 770-square-metre block and although comfortable, it could do with some renovations," says Mark Armstrong of Property Tycoon.
Armstrong provides a price guide for the house of between $1.2 million and $1.3 million.
"Auctions for family homes in this part of Melbourne have been well contested of late, and a couple of weeks ago a big crowd was present when 27 Kent Street in Surrey Hills, just around the corner, sold for $1,590,000," Armstrong says. 

<img src="/images/stories/windsorcres.jpg">
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/">Property Tycoon</a>.
 
 
 
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Melbourne auction tipping

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New South Wales dominated RP Data's list of the top 10 sales, with the state accounging for nine of the 10. The most expensive property sold this week, according to the data company, was a Milsons Point three-bedroom unit that sold for $3,675,000. Queensland just squeezed onto the list with the $2 million sale of a four-bedroom Toowong house. 
 
1. 501/20 ALFRED STREET SOUTH MILSONS POINT, NSW, 2061, three-bedroom unit, sold at auction on March 8 by Ray White Lower North Shore for $3,675,000
2. 7/30 ST MALO AVENUE, HUNTERS HILL, NSW, 2110, four-bedroom unit, sold at auction on March 3 by McGrath Estate Agents for $2,975,000
3. 1/98 BELLEVUE ROAD, BELLEVUE HILL, NSW, 2023, five-bedroom house, sold on March 9 by Laing + Simmons Double Bay for $2,800,001
4. 38 ANNETTE STREET, OATLEY, NSW, 2223, four-bedroom house, sold at auction on March 10 by McGrath Estate Agents for $2.4 million
5. 113 HENLEY MARINE DRIVE, DRUMMOYNE, NSW, 2047, three-bedroom house, sold at auction on March 10 by Warwick Williams Real Estate for $2,195,000
6. 18 LITTLE SURREY STREET, DARLINGHURST, NSW, 2010, four-bedroom house, sold on March 6  by BresicWhitney Estate Agents Darlinghurst for $2.15 million
7. 26 WENTWORTH STREET, RANDWICK, NSW, 2031, three-bedroom house, sold on March 7 by GoodyerDonnelley Real Estate for $2.1 million
8. 44 MILL HILL ROAD, BONDI JUNCTION, NSW, 2022, four-bedroom house, sold after auction on March 6 by Di Jones Real Estate Woollahra for $2 million
9. 18B BEATTIE STREET, BALMAIN, NSW, 2041, three-bedroom house, sold on March 9 by Cobden &amp; Hayson Balmain for $2 million
10. 3 HOLMES STREET, TOOWONG, QLD, 4066, four-bedroom house, sold at auction by Ray White Indooroopilly for $2 million 
 
 
 
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Top 10 sales of the week: RP Data

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In Melbourne this week you can buy a piece of an Elwood seaside mansion and live100 metres from the beach for less than $500,000.
There's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/" style="font-size: 14px; text-align: left;">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Melbourne properties is <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-elwood-110015725">15/17 Byrne Avenue, Elwood</a>, a unique one-bedroom apartment located in a converted 1889 Victorian mansion and comes with many of the old-world features, including an open fireplace.
The impressive apartment was last sold in 2001, when it fetched $276,000. The last sale in the block was in March this year, when it sold at auction for $510,000. Biggin and Scott expect a sale price of between $430,000 and $470,000.
<img src="/images/stories/byrneave.jpg">
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>.
 
 
 
 
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There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Melbourne properties in round two of the competition this week is <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-toorak-109483101">8/29 May Road, Toorak</a>, which is being auctioned by Marshall White.
Property Tycoon is providing a price estimate of $370,000 plus for the one-bedroom apartment, and Mark Armstrong of Proprty Tycoon notes it was last sold in 2009 for $418,000.
<img src="/images/stories/mayroad.jpg">
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/">Property Tycoon</a>.
 
 


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Melbourne weekend auction tipping

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There's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Sydney properties going to auction in round two this week is <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-mosman-109443811">18/24a Musgrave Street, Mosman</a>, being marketed by Belle Property.
"The Mosman property was last on the market in 1991 when it sold for $131,000," says Mark Armstrong of Property Tycoon, who goes on to say a bit wistfully, "If only we had bought it back then. This time around the agents are expecting it to sell for over $1.2 million."
<img src="/images/stories/musgravest.jpg">
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>.
 
 
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Sydney weekend auction tipping

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There's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Melbourne properties going to auction this week in round four is 32 Bastings Street, Northcote, which is being auctioned by Jellis Craig. 
"In Melbourne 32 Bastings St Northcote will be put to the competition with a sale of around $1.5 million expected," says Mark Armstrong of Property Tycoon.
"This is a very unique property sitting high an Ruckers Hill and on over 700 square metres of land.  


"The four-bedroom home was purchased by its current owner in 1996 for $996,000 and has under gone a cosmetic make over in the last few years."
Armstrong says the property should attract considerable competition at its weekend auction.
<img src="/images/stories/bastings.jpg">
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/">Property Tycoon</a>.
 
 
 
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<a href="https://www.propertyobserver.com.au/new-south-wales/the-renovators-celebrity-interior-designer-tina-chalabian-secures-record-price-for-willoughby-home-title-tattle/2012031153790" target="_blank"><img style="border-style: initial; border-color: initial;" src="/images/stories/2955000.jpg"></a>
The<a href="https://www.propertyobserver.com.au/new-south-wales/the-renovators-celebrity-interior-designer-tina-chalabian-secures-record-price-for-willoughby-home-title-tattle/2012031153790" target="_blank"> approximate price celebrity interior designer Tina Chalabian from Channel Ten show The Renovators secured for her Willougby home pre-auction</a>. It was a suburb record.
 
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<img src="/images/stories/6point34.jpg">
ANZ's new interest rate for its three-year fixed-rate mortgages. ANZ put up its fixed rates but not its variable rates after the RBA left the official cash rate on hold at 4.25% last week.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/leisure/serviced-apartments-to-outperform-hotels-in-next-three-years-atchison/2012031253796"><img src="/images/stories/13to15.gif"></a>
The expected total returns per year for the<a target="_blank" href="https://www.propertyobserver.com.au/leisure/serviced-apartments-to-outperform-hotels-in-next-three-years-atchison/2012031253796"> serviced apartment market in the next three years</a>, according to Atchison Consultants. The total returns for hotels are expected to range between 10% to 11% per annum.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/landlords/capital-city-unit-rents-a-state-by-state-analysis-residex/2012031353476"><img src="/images/stories/480.gif"></a>
The median asking rent for<a target="_blank" href="https://www.propertyobserver.com.au/landlords/capital-city-unit-rents-a-state-by-state-analysis-residex/2012031353476"> units in Sydney in January 2012</a>, according to Residex. This is up 6.7% on the same time last year.
 
<hr>
 
<a href="https://www.propertyobserver.com.au/office/perth-seventh-most-expensive-cbd-office-market-in-the-world-sydney-falls-to-10th-knight-frank/2012031353813" target="_blank"><img src="/images/stories/7.gif"></a>
<a href="https://www.propertyobserver.com.au/office/perth-seventh-most-expensive-cbd-office-market-in-the-world-sydney-falls-to-10th-knight-frank/2012031353813" target="_blank">Perth's ranking on Knight Frank's list of the most expensive CBD office markets in the world</a>. Sydney fell from eigth spot last year to 10th this year. 
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/residential-building-starts-plummet-to-lowest-since-gfc-abs/2012031453828"><img src="/images/stories/33653.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/residential-building-starts-plummet-to-lowest-since-gfc-abs/2012031453828">number of dwelling commencements in December</a>, according to the ABS. This is the lowest level since before the GFC.
 
<hr>
 
<a href="https://www.propertyobserver.com.au/industry-news/dodgy-estate-agent-with-heartless-motives-slammed-for-casing-brisbane-widows-home-before-husbands-death-notice/2012031553869" target="_blank"><img src="/images/stories/1.gif"></a>
The number of days <a href="https://www.propertyobserver.com.au/industry-news/dodgy-estate-agent-with-heartless-motives-slammed-for-casing-brisbane-widows-home-before-husbands-death-notice/2012031553869" target="_blank">a Brisbane estate agent waited after a man had died before taking photographs of his house</a>, presumably to try to secure a listing. The widow, who is not selling the house, approached the agent, who jumped in her car and drove off. 
 
 
 
 
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There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Melbourne properties going to auction this week as part of round six will be <a href="https://www.realestate.com.au/property-house-vic-richmond-109861701" target="_blank">5/4 Tullo Place, Richmond</a>. Biggin &amp; Scott is marketing the property, which is a converted warehouse 50 metres from Bridge Road. 
The property at "was subdivided and sold of as warehouse shells in 1994 and is located only 50 meters from Bridge Road," says Mark Armstrong  of Property Tycoon.
"Unit 5 has three bedrooms, two bathrooms and is spread out over three levels. "Agents expect the property will sell around $1.5 million."
<img src="/images/stories/tullo.jpg">
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>. 
 
 
 
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<img src="/images/stories/390k.gif">
 
The price Queensland Renewable Energy paid for two units at Coolum Beach on the Sunshine Coast. Its has purchased units at 25 Quanda Road, Coolum Beach, in a deal negotiated by Tracey Ryan from Ray White Commercial Noosa. The units are each 88 square metres and suitable as the business requires extensive pallet racking. One was offered for sale by a private vendor and the other by an interstate developer.
 
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<img src="/images/stories/8percent.gif">
The yield for the Beca House office building at 21 Pitt Street in Auckland, NZ, which was recently bought by a private New Zealand investor for NZ$55 million. The deal was negotiated by Warren Hutt of CBRE and is the city's largest commercial transaction in two years. The building's major tenant (with naming rights) is Beca Corporate Holdings, which occupies more than 14,400 square metres of space on a nine-year lease that commenced in 2010. The building is 10 storeys and has a net lettable area of 16,800 square metres.
 
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<img src="/images/stories/200m.gif">
The price Queensland Investment Corporation paid for Noosa Civic shopping centre on the Sunshine Coast. The shopping centre, on 31.7-hectare activity site, is "one of the key sub-regional shopping centres on the Sunshine Coast," QIC global managing director Robert Carter told the Australian Financial Review. QIC bought the centre from Commonwealth Games chairman Mark Stockwell.
 
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<img src="/images/stories/7point8m.gif">
The price a private investor paid for 4,631-square-metre ground-floor retail property at 126-128 Pittwater Road, Gladesville, in inner north-west Sydney. Harris Farm Markets has a 10-year lease for 1,505 square metres and is paying rent of $675,000 net per year. The remainder of the building comprises parking. The sale price represents a gross rental yield of 8.65%.  The deal was negotiated by Simon Staddon from Burgess Rawson and Steffan Ippolito from Oxford Commercial. 
 
 
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Commercial hammer prices

<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.”

<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;

Cassidy Knowlton

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