Lendlease Residences One &amp; Two at One Sydney Harbour have hit 83 percent sold.

The company updated the sales tally in an ASX half yearly report.

There have been 530 of the 637 apartments sold for $3.1 billion.

In mid-2021 Lendlease announced the establishment of a joint venture with Mitsubishi Estate to deliver Residences Two, the second residential tower at One Sydney Harbour, Barangaroo.

Mitsubishi Estate already held a 25 per cent interest in Residences One at One Sydney Harbour.&nbsp;

Rising 235m above Sydney Harbour, Residences Two, has an estimated value of $1.7 billion.

It will comprise 322 apartments across 68 levels.&nbsp;

Its initial off market sales campaign, followed by the 2021 public sales launch, saw pre-sales on the project sit at 59 per cent last July.

Construction of Residences Two is expected to be completed by mid to late 2024.&nbsp;

One Sydney Harbour, comprising three residential towers, is the final piece in Lendlease&rsquo;s award-winning, mixed use, carbon neutral precinct, Barangaroo South.

Residences One hit 85 percent sold in May last year, having been launched in &nbsp;2019 when a record $140 million was paid for its penthouse.

Lendlease will soon release One Sydney Harbour&rsquo;s third and final residential tower, Watermans Residences, which will sell on-market priced from $1.42 million for a one-bedroom apartment.&nbsp;

&ldquo;This exceptional $3 billion milestone in sales for our Residences One and Two is a testament to the strength and resilience of the Sydney residential market and speaks to high demand of local owner-occupiers and downsizers who recognise this once-in-a-generation opportunity,&quot; Tom Mackellar, managing director Development, Lendlease said.

The company updated the sales tally in a report to the ASX 

jchancellor-FAypfDUnLy

Lendlease Residences One & Two hit 83 percent sold at Barangaroo South

The Forme project by Mirvac at Doncaster has neared being half sold.

The ASX listed company advised sales tally sat at 48 percent in its update last week.

Forme was launched last July with prices starting from $425,000.

Mirvac&#39;s prior update last October on sales was that 28 percent of its apartments had sold within the tranquil former 47-hectare Eastern Golf Course at Doncaster.

[smartcode_project:default project_id=100322 project_image_fid=163028]

Forme will feature 93 residences at 57 Stables Circuit.

It has an expected $82 million completion value for the mid-rise project which is under construction.

Forme is the third and final apartment building at the Tullamore precinct which included Phoenix and Folia.

[smartcode_project:default project_id=100322 project_image_fid=167722]

Mirvac head of residential, Stuart Penklis says that the &quot;project demonstrated the ongoing demand for quality, well designed apartments supported by exceptional amenity.&quot;

Forme was designed by the Mirvac Design team to be set within sculptured gardens by landscape architect Paul Bangay with more than 20 per cent of the Tullamore precinct dedicated to green open spaces, including pocket parks, adventure playgrounds, undercover barbeque and picnic areas as well as walking and cycling tracks to encourage an outdoor lifestyle.&nbsp;

[smartcode_project:default project_id=100322 project_image_fid=163026]

Forme&rsquo;s construction is by mid-2023.

On its launch, Mirvac design director Michael Wiener noted with more people now working from home, Mirvac incorporated study spaces in the majority of its two and three bedroom apartments.

Forme will feature Melbourne start-up Allume Energy&rsquo;s distribution technology, SOLSHARE in some of the apartments.&nbsp;

A unique technology, SOLSHARE allows residents to share power from a single solar system, which is anticipated to deliver up to 40 percent energy savings, based on average residential household usage.

[smartcode_project_cta: project_id=100322]

Mirvac gave a sale update last week for exchanges and deposits as at December 31

Forme, Tullamore hits 48 percent apartments sold

The Victorian government has announced a review of laws applying to the property industry.

The review will look at off-the-plan sales, the weekend announcement advised.

Buyers will be able to give feedback when the department posts its survey at www.engage.vic.gov.au/property-market-review

It will also look at auction price underquoting which were last reformed in 2016 when all auction properties listed for sale needed to advertise a price guide and list recent comparable sales.

The review will be conducted by former Real Estate Institute of Victoria chief executive Enzo Raimondo with others on the panel including reform expert Claire Noone from Nous Group, and former co-chief executive of the Consumer Action Law Centre Carolyn Bond.

Amid heightened affordability concerns, the Consumer Affairs minister Melissa Horne said it was &quot;important to make sure our laws are still best practice.&rdquo;

It follows some 383 complaints about potential underquoting being lodged with Consumer Affairs Victoria between February and April last year.

Its inspectors visited 29 agency offices in May and found 17 had flouted underquoting laws, triggering more than $300,000 in fines.

The review will look at upfront costs for buyers along with whether real estate agents have the skills, education and expertise they need to maintain good industry practice.

The review will also cover whether real estate agents have the skills, education and expertise they need to maintain good industry practice

Off the plan sector under review by Consumer Affairs Victoria

The development site at 215-217 Jefferson Lane, Palm Beach has been listed for auction.&nbsp;

The property will be sold at on-site auction on March 4 through Tony Grbcic and Adam Grbcic, at Kollosche Commercial.

It is marketed as &quot;an irreplaceable opportunity to purchase a rare double block with absolute beachfront access on the highly desirable and sought-after Jefferson Lane location.&quot;

It is a 817sqm corner site with 20 metre frontage to both Jefferson Lane and Thirteenth Avenue.

The development plans for a prestige 9 level residential only building were lodged last June.

The application was approved with a development permit issued by Gold Coast Council in November last year.

The plans were a clam-shell-inspired apartment tower by Quahlee Property.

The owners of the properties are Christina Quinn, the former owner of Darrel Lea and VIP Petfoods, and Quahlee sole director Felicity Spittle, who was a former chief financial officer for both the Quinn companies.

The Contreras Earl design was for two basement levels, a communal ground level with a pool and eight residential floors.

There are eight three bedroom full floor apartments.

The 215 Jefferson Lane site is a recently a cleared and demolished site while 217 Jefferson Lane has a 2-storey, duplex.

&quot;This opportunity would suit both local and interstate developers,&quot; Tony Grbcic said.

He noted &quot;the current growth on the Gold Coast coupled with the next light rail stage passing this property in the coming years.&quot;

The listing agents expect interest from both local and interstate developers

Palm Beach apartment development site listed for auction 

NINE at Willoughby, Sydney has seen sales of 70 per cent of its released lots.

Mirvac is developing the Nine Network&rsquo;s headquarters in Willoughby after paying $249 million for the 3.2 hectare site at 6-30 Artarmon Rd.

Nine had broadcast there from 1956, vacating last year when it moved to Winten Property Group&rsquo;s new 39-storey tower at 1 Denison Street in North Sydney.

[smartcode_project:default project_id=93788 project_image_fid=186244]

NINE by Mirvac, Willoughby is set to deliver 442 apartments all up, in stages. The current offerings are in two of the 10 buildings, the Overture and Montage buildings.

The one&nbsp;bedroom prices start from&nbsp;$820,000. The two bedrooms are from&nbsp;$1,520,000. There are also three bedroom abodes.

It has been designed by Mirvac Design &amp; CHROFI with the landscaping by McGregor Coxall. Its interiors will be a collaboration by MIM Design and Mirvac Design.

It will be a landmark community on Sydney&rsquo;s north shore &quot;expected to set a new benchmark in the area.&quot;

[smartcode_project:default project_id=93788 project_image_fid=186243]

NINE by Mirvac will be a contemporary collection of low-rise apartments.

Renewal of the former home of broadcasting will deliver 6,500sqm of open space.&nbsp;

Tai Ropiha director of architects CHROFI said the designs blended the urban and the natural to create a sense of calm and timelessness.

Inside, the homes will have modern finishes that make them &quot;both functional and practical.&quot;

The latest Mirvac results advised the first update on sales at NINE at Willoughby

NINE by Mirvac, Willoughby apartments, hits 70 per cent sold off the plan

Listed property developer Mirvac sees an upward trajectory around the economy, and the reopening of international borders as set to help its apartment sales.

Building supply cost issues were being managed.

&ldquo;Despite the roll off of stimulus measures, we continue to see strong demand from upgraders, right-sizers, and first-home buyers who are attracted to our reputation as a trusted developer, as well as our well-located, quality product,&quot; Susan Lloyd-Hurwitz, its chief executive officer noted.

&quot;Broader fundamentals also remain positive, with limited supply, pent up demand and the impending return of overseas migration.

&quot;We are able to effectively manage supply chain impacts and labour shortages related to the pandemic.&rdquo;

&ldquo;We&rsquo;re on an upward trajectory around the economy,&rdquo; Susan Lloyd-Hurwitz said.

Mirvac has a 50-year history of creating high-quality apartments and masterplanned communities with a $16.4bn residential development pipeline including over 26,000 lots weighted to Sydney and Melbourne.&nbsp;

It includes lots acquired over the recent quarter at Cobbitty in Sydney&rsquo;s south west (approximately 950 lots) and additional lots at Smiths Lane in Melbourne (approximately 300 lots).

[smartcode_project:default project_id=28168 project_image_fid=186033]

Their ASX update noted the COVID-19 pandemic presented a number of challenges including supply chain disruptions, labour shortages, and an economic slowdown.&nbsp;

&quot;These challenges continue to present a risk to Mirvac&rsquo;s operations,&quot; it noted.

&ldquo;While we had expected to see conditions normalise in the first half of 2022, the spread of Omicron has presented a number of challenges.&nbsp;

The report noted Mirvac would &quot;continue to closely monitor our operating environment.&rdquo;

Mirvac posted a 44 per cent jump in first-half profit to $565m after strong residential sales amid the pandemic.

However Mirvac chief executive Susan Lloyd-Hurwitz kept guidance unchanged adding the developer would closely monitor the operating environment.

Mirvac settled 1,303 residential lots and was on track to deliver more than 2,500 lot settlements in FY22.&nbsp;

It noted defaults over recent months fell back below 2 per cent, in line with historical averages.

It exchanged 1,814 lots during the quarter, with &quot;strong sales&quot; particularly in its Melbourne projects,

[smartcode_project:default project_id=100322 project_image_fid=167722]

The residential pre-sales increased to approximately $1.5bn.

It released over 1,580 lots, including the launch of four major apartment projects in Sydney and Melbourne.

Residential EBIT in 1H22 was 17 per cent higher compared to 1H21, driven by higher lot settlements (up 21 per cent), largely from MPC projects at Smith&rsquo;s Lane, Tullamore and Woodlea, and our apartment project, Voyager at Yarra&rsquo;s Edge, all in Melbourne.

It noted a higher development margin in 1H22 has been driven by stronger apartment margins.&nbsp;

&quot;Strong sales activity is demonstrated by a more than 30 per cent increase in lot exchanges over the prior corresponding period and our pre-sales increasing to $1.5bn.

The developer says it was managing costs 

Mirvac boost residential supply with lots in Sydney’s south west and Smiths Lane, Clyde North

Pama Casuarina, the $75 million Casuarina Beach residential development, has seen more than 65 per cent of the project sold within four weeks of hitting the market.

Helping to generate sales of more than $45 million is that Pama be the first apartment complex to be zoned for permanent residents. Local purchasers were the first to secure apartments with nine selling to buyers living within 10 kilometres of the development site.

All other multi-level apartment buildings in the town have a resort accommodation zoning, which limits owner occupation to three months a year.

Holm Developments and DeMartini Fletcher are undertaking the project in a joint venture.

Their 4083 sqm site is in the centre of Casuarina Beach, at 5 Grand Prade, which is 40 minutes north of Byron Bay and 18km south of Tweed Heads.

Holm Developments proposes 47 two, three and four-bedroom apartments across four levels.

The prices are from $1.065 million for a 120sq m two-bedroom apartment. The three bedrooms are priced from $1.565 million.

Plus Architecture has sought coastal residences that capture the essence of the village&rsquo;s laid-back beachside culture.

PAMA is probably its most tropical-inspired design, architect Danny Juric said.

The project&rsquo;s resort-style amenities will include a 20m heated pool with a sand beach, a barbecue kitchen and bar area, outdoor showers and designated dog wash bay.

PAMA is the 18th coastal project Plus Architecture unveiled in 2021, but the first just over the NSW border.

Plus Architecture ensured every apartment can capture views of the ocean in its design of Ni&ntilde;a, the latest Chevron Island apartment development.

The second Chevron Island project from the Sydney-based Macquarie York, Ni&ntilde;a will rise 23 levels from its Parnerno Street address.

[smartcode_project:default project_id=108640 project_image_fid=186291]

Late last year longstanding South East Queensland developer, Drew Group, got the green light from the City of Gold Coast for the Lagoon project - the largest single-site to be developed at Main Beach since the 1990s.

Lagoon, which will launch to the market in early this year, has been designed by Plus Architecture, has 248 apartments across two towers at 11 Cronin Avenue.

The towers, 23 and 31 levels, will have 189 two-bedroom apartments and 59 three-bedroom apartments, along with a selection of garden terraces, three-bedroom sub-penthouses, and dual-level, four- bedroom penthouses.

[smartcode_project:default project_id=108747 project_image_fid=188174]

Plus Architecture has also designed a 38-level tower which will home 35 full-floor apartments at Surfers Paradise for the local developer Ayrton Mansi.

The plans for 17-19 First Avenue, 200 metres from the beach, saw Plus Architecture say the design was inspired by the &quot;dynamic theatre of the ocean.&quot;

There&#39;s also the six-storey development, Cleo, at 2265-2269 Gold Coast Highway in the heart of Nobbys village precinct designed by Plus Architecture for Big Projects, the local Gold Coast development and construction firm.

The $75 million Casuarina Beach residential development has seen more than 65 per cent of the project sold 

Plus Architecture design for permanent apartment residency at PAMA Casuarina

Central Element has secured a $7 million sale in Pienza, its Neutral Bay apartment development.

The $180 million project was launched in December.

The second floor, three-bedroom comes with 212 sq m of internal space and a 27sq m balcony.

It comes with a sunny north east aspect at its location on the corner of Waters Road and Grosvenor Street.

[smartcode_project:default project_id=29544 project_image_fid=188794]

The downsizer buyer had been looking for over a year.

The project's completed is scheduled for late 2023. Central Element's Pienza Neutral Bay Village project on Sydney's Lower North Shore has project financing from MaxCap Group.

The one-bedroom apartments are priced from $1.45m, and two-bedders from $2.45m to $3m.

[smartcode_project:default project_id=29544 project_image_fid=188793]

Its three-bedroom apartments range from $4.5m to $5.3m. 
&nbsp; 
Residents of the village will have access to a rooftop garden, infinity pool and lower ground shopping and dining areas.

Central Element managing director Nathan Chivas noted the $7m sale set a new price record within the popular village precinct of over $33000 per sqm.

Designed by award-winning SJB Architects, the 39 apartments have interiors more synonymous with a grand house than an apartment including butler’s pantry, home office and powder room.

The build of Pienza is being done by Richard Crookes.

[smartcode_project_cta: project_id=29544]

The $180 million residential project by Central Element was launched last December 

$7 million apartment sale in Central Element's Pienza, Neutral Bay

Metro Melbourne had over 21,000 land sales in 2021.

It was more than at the peak of the market in 2017, according to the latest report from Red23.

The Western corridor had the highest share of new land sales in Melbourne with 41% of the sales made in Wyndham and Melton areas, where stock availability is also at the highest.

&quot;This was followed by the northern corridor comprising of Hume, Whittlesea and Pt. Mitchell with 25% of the market,&quot; Red23 managing director Terry Portelli&nbsp;noted.

The south east corridor sat at 22%. &nbsp;

<img alt="" height="540" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-02-09_at_10.12.12_am.png" width="685" />

But the fourth quarter of 2021 saw land sales fall 24% in comparison to the third quarter 2021 and 49% less in comparison to the first quarter of 2021 when sales were at its highest level.

The median land price in metropolitan Melbourne increased by 11% in the last 12 months, 9% in the last 6 months and 2.29% in the last month.&nbsp;

All municipalities increased in price over the last 30 days except for Whittlesea, falling back slightly.&nbsp;

Hume had the highest increase of 6.77% due to an increase in its median land size from 394sqm in November to 400sqm in December. Hume is a strong market where stock availability is at its lowest in more established areas around Mickleham and Greenvale and high demand for a variety of land sizes in Sunbury.

Greater Geelong had the highest year on year increase due to the pandemic. Prices increased 37% whilst the median land size remained unchanged. Approximately 5,500 sales were made in 2021 with the peak being in the second quarter 2021.&nbsp;

<img alt="" height="756" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-02-09_at_10.12.18_am.png" width="1043" />

&quot;Numbers dwindled towards the end of the year as stock availability fell,&quot; Portelli noted. 
&nbsp; 
Early 2022 is expected to continue 2021&rsquo;s success, he said, noting the economy remaining open, employment growth is at a healthy rate of 2.7% and the unemployment rate is below 5%.&nbsp;

He did note that consumer sentiment remains positive and has improved in January 2022 &quot;however, it is still significantly lower than at its peak in November 2020.&quot;

Active house and land projects in the Melton municipality include Harmony Estate at Strathtulloh, a suburb in the outer west of Melbourne.&nbsp;

[smartcode_project:default project_id=28717]

The suburb was gazetted in February 2017, following a proposal for eleven new suburbs by the City of Melton.

Late last year Harmony&#39;s stage 6 new land release was launched with the marketing advising the estate provided &quot;easy access to the M8 Freeway, train stations and all the neighbouring amenities, without the premium price tag.&quot;

It came just after the titles for stages 1, 1A and 2 were settling mid-year. Stage 4 titling was scheduled for January 2022.

Recent sales include a 448sqm block at $310,000.

Burbank has been offering house and land packages around $670,000 in its Strathtulloh offerings.

Lendlease is undertaking Atherstone, a masterplanned community positioned 40kms west of Melbourne&#39;s CBD and home to the future Cobblebank CBD.

[smartcode_project:default project_id=28710]

It offers buyers the flexibility to choose their own builder and home design after buying a block or alternatively choosing from one of the houses for sale in Atherstone.

Projects in the second busiest municpipality include Urban Square at Jubilee at 774 Ballan Road, Wyndham Vale by Jubilee.

Purchasers are encouraged to start building their homes within 12 months of settling on their block, with homes to be completed within 12 months of construction commencing.

For buyers seeking new builds, construction is underway at Onyx Estate, set for completion in late 2022, by the Heiyu Groups.

It is a series of two and three-bedroom townhomes in an established part of Tarneit, west of Melbourne.

Established in 2014, Heiyu Groups has undertaken 28 projects.

The Casey muncipality in the south east corridor has around 20 percent of sales, and the dearest median land price at $419,000. The nearby suburb of Berwick is seeing significant housing construction headlined by Alira, the nearby master-planned housing estate at 322-340 Centre Road, Berwick.

With pricing from $530,960, Alira is a collection of townhomes, and house and land, popular with first home buyers, growing families or downsizing families.

Whittlesea is the next busiest precinct with ASX-listed developer Cedar Woods having recently opened a new sales office for its 64-hectare Mason Quarter masterplanned community in Wollert following a surge in demand for property in Melbourne&rsquo;s north.

Mason Quarter will accommodate over 800 dwellings and is located just 25 kilometres from the Melbourne CBD.

According to Cedar Woods&rsquo; Chief Operating Officer, Patrick Archer, land lots continue to sell out soon after each release.

Located on Craigieburn Road in Wollert, Mason Quarter is designed around new and existing amenity. The development includes plans for two schools, a community facility and is located within walking distance to the future Wollert town centre. The project is also in close proximity to the Hume Freeway, Metropolitan Ring Road, hospitals, shopping centres and public transport.

Mason Quarter will be delivered over the next eight years with large 368m2 land lots now selling from $397,500, subject to availability.

Wyndham and Melton areas is also where stock availability is at the highest

Melton and Wyndham dominate record Melbourne land sales for new housing: Red23

Sydney unit prices have recovered after the downward trend seen in 2019, according to the latest report by PRD Research.

Absorption of new and old listings has been very strong, it advised.

The inner ring 2021 median sale price sits at $1,050,000. It is $910,750 in the middle ring. The outer ring apartment median sits at $750,000.

The Sydney market update report divides the city into the inner-ring (0-5km from the city), middle ring (5-10km from the city) and outer-ring (10-20km from the city).

The middle ring saw the strongest price growth between 2017 - 2021 of 5.7% (+$48,750), just ahead of the outer ring&#39;s 5.6% growth (+$40,000).

[smartcode_project:default project_id=7758 project_image_fid=150461]

The inner ring price growth over the four years was 4% (+$40,000).

The inner ring saw the highest required vendor discount of 2%.

Sydney&rsquo;s inner-ring units have returned to selling faster than middle-ring units.

Despite a prolonged lockdown period in 2021, Sydney units are taking less time to sell in Q4 2021 compared to the initial COVID-19 lockdown in Q2 and Q3 2020.

[smartcode_project:default project_id=7758 project_image_fid=79424]

Sales volumes for established units in 2021 were well above the levels seen over the past three years. it added, noting the data was from APM Pricefinder, SQM Research, and ESRI ArcGIS.

Rental volume has decreased since the beginning of 2021 for both houses and units, indicating an undersupply, the report noted.

The inner median rental price sits at $595 per week after annual price growth of 8.2% ($45 per week).

The middle growth was 3.9% ($20 per week) to $530 per week.

[smartcode_project:default project_id=9187 project_image_fid=164856]

The outer median unit rental sits at $460 per week up 2.2% ($10 per week).

Due to median unit prices not seeing the same price growth in 2021 as houses, unit rental yields have increased in all Sydney rings.

Sydney&rsquo;s inner-ring recorded the highest rental yield and the highest growth.

The latest inner city apartment project announcement comes from property developer <a href="/news/nsw/dahuas-220-million-waterloo-apartment-precinct-plans">Dahua Group with plans for its major Waterloo precinct</a>.

The 1.7 hectare block, formerly an industrial site at 903-921 Bourke Street, Waterloo, will see four new buildings constructed, focused around a central plaza with retail and parks.

The tallest tower proposed with family-targeted terraces which address the park will have 147 apartments across its 20 levels.

Rental volume has decreased since the beginning of 2021 for units, indicating an undersupply, according to PRD Research

Inner Sydney apartment rentals on the rise: PRD Research

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