SQM Research calculated the national residential property rental vacancy rates rose to 1.7% in September.

"Vacancy rates remained largely steady over the month of September, albeit remaining in favour of landlords for most capital cities with the exception of Melbourne and inner Sydney," SQM managing director Louis Christopher said.

Sydney and Brisbane’s vacancy rate rose to 2.7% and 1.4% in September from 2.6% and 1.3% in August. 

"In Adelaide, Perth, Darwin, Canberra and Hobart the vacancy rate remained below 1%, while Melbourne’s rate remained constant yet elevated," he noted.

Vacancy rates rose in the Sydney CBD and Melbourne CBD to 8.2% and 8.4%.

“As NSW and Victoria come out of lockdown and back to some sense of normality we expect some movement in the rental market. 

"CBD locations may well improve for property owners as overseas students return to our shores. 

"However, regional vacancy rates may also rise as longer term city dwellers seek a return to a larger choice of amenities, family and friends.”

The NSW government is looking at ways to fast-track home quarantine in November, and if that happens the Federal Government will move to facilitate the opening up of the international border into NSW for students.

The ABC estimated nearly 60,000 international students are hoping to get to Australia to begin or resume their studies.

The total number of rental vacancies Australia-wide now stands at 59,345 residential properties, up from 58,856 in August. 

SQM Research noted vacancy rates remained largely steady over the month of September

jchancellor-FAypfDUnLy

Return of international students to assist metropolitan vacancy rates: SQM

A 12 apartment block in North Melbourne has been scheduled for November 5 auction in one line.

Teska Carson is marketing a standalone apartment block on the north-western fringe of Melbourne’s CBD. 

Located at 9-11 Haines Street, the property comprises a three storey block of 12 one bedroom, self-contained, apartments. 

The 590 square metre site is zoned General Residential 1 with 16 metres frontage and rear access via Harris Street to off-street parking. 

The property will be sold subject to a current rental of $158,000 with an estimated fully leased income of $188,888 as two units have recently vacated.

Teska Carson agent Adrian Boutsakis said the city fringe address would attract a level of rental demand that continues to drive a flourishing gentrification process.

CoreLogic puts its last sale price at $5,005,000 in 2018.

The property will be sold subject to a current rental of $158,000

12 North Melbourne apartments listed in one line

A 3,873sqm Mermaid Beach development site with approval for dual residential towers has been listed through CBRE.

The site has approval for two multi-storey residential towers of 47 and 49 levels.

It was known as the Elegance project when marketed by Hubei United Investment Group, a state-owned Chinese company.

There had been 120 sales when the marketing ceased in 2019.

[smartcode_project:default project_id=6998 project_image_fid=28730]

Located on the border of Broadbeach and Mermaid Beach on the Gold Coast, there are 522 apartments across two buildings.

The West tower includes 311 one, two, and three-bedroom apartments.

The East tower has 210 two-bed apartments.

Located at 2605 Gold Coast Highway, the site benefits from frontages to Mermaid Avenue.

[smartcode_project:default project_id=6998 project_image_fid=28725]

CBRE&rsquo;s Mark Witheriff, Daniel Doran and John Nucifora are taking offers until October 28.

The site sold for $34.1 million in 2016.

The approval was granted in October 2016 which expires in October 2024.&nbsp;

The expressions of interest campaign closes October 28.

Stalled Elegance, Mermaid Beach apartment development site listed

Mali Residences, Mermaid Beach features in Gold Coast Open House, this weekend, October 16.

Gold Coast Open House is an annual event unlocking the doors of interesting and architecturally significant buildings and locations across the city for all to explore for free.

The recently completed apartment project at 4-6 Alexandra Avenue, Mermaid Beach was undertaken by Dankav Developments.

[smartcode_project:default project_id=9088 project_image_fid=56808]

Mali Residences offered 55 contemporary residences in one, two and three-bedroom configurations, with apartments priced from $435,000.

The 16th floor penthouse fetched $4,295,000.

Designed by BDA Architecture, the project features a striking façade, open-plan entertaining spaces and luxury amenities.&nbsp;

[smartcode_project:default project_id=9088 project_image_fid=28703]

The space has been formed by a series of intertwined components – an open lobby, podium parking featuring a generous green foliage wall facing north, lower residential with five units per floor, a break in the built form to showcase an entire floor dedicated to lifestyle and recreational boasting views of the sand and the water along with upper residential of three units per floor.

Located on the ninth floor is a range of leisure facilities, including a resort-style pool, sauna, gym and residents’ lounge. 
&nbsp;&nbsp; 
With the easing of Stage 2 restrictions last Friday on the Gold Coast, the Open House opportunity has arisen.

GCOH bookings are required via eventbrite.

Mali Residences saw apartments priced from $435,000

Mali Residences, Mermaid Beach featuring in Gold Coast Open House 2021

A single level Carlton warehouse building in a high-density development zone has sold for the first time in 30 years.

It fetched $5.5 million with bidders keen for the zoning that allows development heights up to 40 metres.

A short term lease in place provides initial income from the 135-139 Leicester Street warehouse that spans the 270sqm lot.

It is set among several student accomodation buildings including 127 Leicester St where the 100-plus studio spaces come with prices ranging between $150,000 and $185,000.

There are also permit approved sites with one directly opposite that will be 14 levels of accommodation for hotel, residential and student accommodation.

Scape, the country’s largest student accommodation provider, recently acquired Oxfam’s head office, for a speculated $15 million.

The four storey warehouse office at 130-138 Leicester Street will be replaced by a 334 room tower with a $43 million construction estimate. The 986 sqm site last traded at $4.08 million in 2005.

CBRE’s Nathan Mufale, Scott Hawthorne, David Minty and JJ Heng negotiated the $5.5 million deal to secure a strong land rate of more than $20,0000 per sqm.

Mr Mufale noted that the depth of bidding highlighted the strong demand for opportunities.

The bidders included student accommodation groups taking a long-term view on precincts such as Carlton.

“The lack of students travelling into Victoria caused headwinds however, the student accommodation groups we are dealing with are looking to fuel their respective development pipelines well beyond the next 18-24 months” 

“Pricing has firmed for landholding in certain city fringe pockets of Melbourne where international buyers see long-term value," Mr Heng said.

"The groups who bid on this property were all focused on building their portfolios with high quality assets that provide development upside down the track.”

A single level warehouse building sold for the first time in three decades

High density Carlton development site sold for $5.5 million

A development site which is permit ready for a luxury residential development has been sold in Armadale for $7.25 million.

It was listed with expectations around $6 million.

The property was sold with a planning permit for a Ewert Leaf designed, four level luxury residential project, comprising 14 residences including eight x three bedroom apartments and six x two bedroom apartments.

Teska Carson, in conjunction with Kay & Burton, marketed the High Street site a a "blue-chip development" opportunity.

The 872-874 High Street property comprises two single level residential buildings on separate, Residential Growth Zone, titles.

Key objectives of the Residential Growth Zone include the provision of housing at increased densities in buildings up to and including four storeys.

It has a combined 1126 square metres with 21.3 metres frontage and secondary access via a laneway off Denbigh Road. 

The properties are currently being utilised as a cosmetic surgery day clinic.


The 872-874 High Street property comprises two single level residential buildings on separate, Residential Growth Zone, titles

Armadale apartment development site sells for $7.25 million

A high-profile, permit-approved Doncaster development site is being used as a COVID drive through testing site before making way for an apartment tower.

Fitzroys&rsquo; Shawn Luo negotiated the off-market six-month lease at 584-588 Doncaster Road to 4Cyte Pathology at $10,000 gross per month.

The triple-fronted former Volkswagen dealership site spans 8,176sqm at the corner of Elgar Road on Doncaster Hill, just 150m from Westfield Shopping Centre.

Positioned in a highly-developed pocket of the suburb, it has approval for an 11-level project designed by architects Waybill comprising 260 apartments and ground floor retail spaces.

The plans for the complex date from 2018 when lodged by Nine Dings and are still active.

The site was bought for $23.2 million in 2015.

It was offered for sale by Savills between June last year and March this year with $40 million expectations through agents Benson Zhou, Julian Heatherich, Clinton Baxter and Jesse Radish.

The site has approval for an 11-level project designed by architects Waybill comprising 260 apartments

Covid testing site lease ahead of pending 11 level Doncaster apartment project

Low-interest rates combined with Australia’s favourable taxation treatment of property investment could drive a new wave of demand for residential property well into 2022, according to Warren Hogan, managing director of  EQ Economics and economic advisor to Judo Bank.

"Not only are low-interest rates denying people a decent return on traditional low-risk investments such as term deposits, they make funding low-yielding investment property extremely attractive," he suggests.

He signalled last week's decision by the Australian Prudential Regulation Authority was just the start of the process of "reining in a runaway housing market."

"This is just the first step in what could be a concerted effort by the prudential regulator to combat a full-blown speculative bubble in Australian housing in 2022 driven by a surge of investor activity."

APRA will release a paper on what macro prudential tools it has available in coming months. 

Hogan wrote on The Conversation that the new rules limiting what banks can lend were aimed at real estate investors and that APRA believes they’ll have little impact on first home buyers.

Hogan noted the RBA, with its focus on getting inflation back into its 30-year-old target zone of 2 per cent to 3 per cent, had "washed its hands of all financial stability and affordability concerns, effectively leaving APRA to deal with the mounting risks to the economy and financial system of persistently low-interest rates."

From November 1, all new borrowers must be able to service their mortgage at an interest rate 3 per cent above the current rate rather than the previously mandated 2.5 per cent after the APRA decision with estimates this will reduce the maximum borrowing capacity of a typical borrower by about 5 per cent. 

Hogan noted most people who take out a mortgage are nowhere near their borrowing capacity.

APRA will release a paper on what macro prudential tools it has available in coming months

APRA has only taken the first step in cooling home loan borrowing: Warren Hogan

The national apartment auction success rate was 76 percent after the weekend results, according to CoreLogic.

It was down just one percent on the prior week's 77 percent clearance rate and consistent with the results on the last Saturday in September.

Canberra was the strongest apartment market at 87 percent, followed by Sydney's 83 percent and Melbourne on 72 percent.

There were 515 apartment and townhouse auction results at an $810,000 median  price.

There was a $1,022,500 median price in Sydney.

Its highest advised price was in Potts Point, where a two-bedroom apartment with a study sold for $2.63 million, with five bidders taking the price $730,000 above its reserve. 

The 125sqm unit in the Rex complex on Macleay St (above) last sold for $1,085,000 in 2010.

It was offered as a $1200 a week rental last November.

There was a $718,500 median in Melbourne.

The nation's cheapest apartment sale was in Melbourne where a 1968-built apartment in South Yarra fetched $345,000 through Edward Carlile at Woodards. 

The one-bedroom, second-floor Williams Rd apartment had previously traded at $180,000.

The strong results comes as homebuyers face the prospect of being able to borrow less, after last week's decision by the Australian Prudential Regulation Authority (APRA) for lenders to increase the interest rate buffer used to check if borrowers could still afford repayments should rates rose.

There were 515 apartment and townhouse auction results across the capital cities

Apartment auction success rate in strong holding pattern: CoreLogic

Eighty Eight O&rsquo;Connell, North Adelaide&rsquo;s Le Cornu site project has seen 20 per cent of the $250 million project find buyers as marketing begins.

The majority of interest has come from local residents ahead of the opening of a display suite after the state&rsquo;s planning body approved the plans in June.

Premier Steven Marshall opened the display suite with 500 guests attending the launch.

The Adelaide-based developer, Commercial &amp; General said the majority of the 1600 registrations of &nbsp;interest came from North Adelaide residents.

Construction is set to get underway in the first half of next year.

The development, designed by architect Woods Bagot, includes two 13-storey towers and one 15-storey tower accommodating retail and commercial space.

There will be 160 residential apartments listed through Klemich Real Estate and Toop and Toop.

[smartcode_project:default project_id=93746]

Some 20 per cent of the value of the project has been sold in Eighty Eight O&rsquo;Connell, Commercial &amp; General executive chair Jamie McClure said.

Prices start at $1.2 million for two bedroom apartments and $2 million for its three bedrooms.

The penthouses are priced up to $10 million.

The 7500 sqm site at 88 O&rsquo;Connell Street has been vacant for three decades.

The project is on land purchased by the Adelaide City Council for $34 million in December 2017 with a $10 million State Government grant.

Last December, the council confirmed it had selected Commercial &amp; General as its development partner.

Established in 1997, Commercial and General has had $2.2 billion in projects delivered or under development.&nbsp;

[smartcode_project_cta: project_id=93746]

The majority of the early interest has come from local residents 

20 per cent sales success at Eighty Eight O’Connell, North Adelaide’s Le Cornu apartment project

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]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News