Australia&rsquo;s biggest bank, CBA, has increased its 2- and 4- year fixed home loan rates by 0.05 per cent for owner-occupiers paying principal and interest. 
&nbsp; 
It is the third time CBA has hiked its 4-year fixed rate this year, but the first time the bank has hiked its 2-year rate for owner-occupiers.

&ldquo;CBA is factoring in a rise in the cost of funding over the next couple of years, particularly now the RBA&rsquo;s term funding facility has closed.&rdquo; 
&nbsp; 
A recent economic insights report from CBA shows around half of its new owner-occupier loans settled in June were fixed, with the two-year rate the most popular. 
&nbsp; 
&ldquo;Despite today&rsquo;s hikes, CBA still has one rate under 2 per cent &ndash; the bank is not going to let go of that easily,&rdquo; said RateCity.com.au research director, Sally Tindall. 
&nbsp; 
&ldquo;CBA&rsquo;s two-year rate was extremely competitive and attracting significant interest. By keeping it just under 2 per cent, the bank is trying to keep momentum going at a more sustainable price,&quot; she said. 
&nbsp; 
Analysis of the RateCity.com.au database shows over the last two months, there have been more hikes than cuts in every fixed rate category with the exception of 1-year rates. 
&nbsp; 
But ME Bank has cut rates across a few home loans from early August, while boosting its refinance cashback offer to $3,000.

The cuts were across its two-year fixed and variable home loan range.

The two-year fixed rate Member Package home loan was cut by 20 basis points to 1.89% p.a. (3.17% p.a. comparison rate*) - a &quot;record low&quot; for the lender.

This particular comparison rate applies to owner occupier borrowers with 80% LVR i.e. a 20% deposit, paying principal &amp; interest.&nbsp;

The same advertised rate applies to other LVRs in the product line, but different comparison rates apply.

A number of other home loans - both fixed and variable - with different LVRs were also cut by between 5 and 31 basis points.

While the majority of changes to fixed rates in the last two months have been hikes, RateCity advise the opposite is happening in the variable rate market.&nbsp; 
&nbsp; 
RateCity.com.au home loan database analysis shows 49 lenders have cut at least one variable rate in the past two months while 10 lenders have hiked variable rates in that time.

The vast majority of variable rate cuts are reserved for new customers, not existing ones, RateCity research director, Sally Tindall, said.

&ldquo;Variable rates are at record lows, however, most of these deals are reserved for new customers, not existing ones, unless you specifically ask,&rdquo; she said. 
&nbsp; 
&ldquo;Before you call, check what rate your bank is giving new customers for the same home loan, but also find out what other lenders have on offer.

&ldquo;If you are paying significantly more than a new customer, pick up the phone and ask your bank &lsquo;why?&rsquo;.

[smartcode_project:default project_id=7363 project_image_fid=41840] 
&nbsp; 
&ldquo;If you have a good track record of paying down your debt, and the bank thinks you might switch to a more competitive lender, they&rsquo;re likely to play ball. 
&nbsp; 
&ldquo;A lot of people think a handful of basis points won&rsquo;t make much of a difference, but if the discount is permanent, then the savings can potentially run into the thousands in just a few years,&rdquo; she said.

ME has also increased its cashback offer to $3,000 for externally-refinanced home loans.

The new lending amount must be minimum of $250,000.

Eligible refinancers must apply by Friday 27 August inclusive, and settle by Friday 29 October.

ME Bank CEO Adam Crane said the cuts would assist borrowers &quot;looking to maximise their borrowing in a challenging property market.&quot;

In February, ME Bank merged with Bank of Queensland with the deal expected to be finalised this month.

But ME Bank cut rates across a few home loans, while boosting its refinance cashback offer to $3,000

jchancellor-FAypfDUnLy

Home loan mortgage rate rises continue

Rent stress has substantially increased over the six months to June 2021, according to ME Bank.&nbsp;

77 per cent of Queensland renters and 72 per cent in NSW are now experiencing stress, the poll of 1500 households by the bank found.

On average renters are spending 41% of their income on rent, which has increased 8% over the past six months to June 2021.

Currently, over two-thirds (68%) of renters reported rent stress &ndash; as typically considered to be rental payments of more than 30% of household disposable income.&nbsp;

The current level of rent stress is even higher (3% higher) than that measured in December 2019, before the COVID-19 pandemic.

Rent stress is typically considered to be rental payments of more than 30% of household disposable income.

[smartcode_project:default project_id=100322 project_image_fid=163029] 
&nbsp; 
Single parents, couples with young children, retirees, and households on low incomes are most subject to rent stress, with women (75%) reporting notably higher rent stress than men (60%).

ME&rsquo;s consulting economist, Jeff Oughton said a combination of factors were contributing to the rise in rent stress.&nbsp;

&ldquo;Rental markets have tightened markedly across the majority of Australia and rents have risen significantly due to falling vacancies,&rdquo; he said.&nbsp;

&ldquo;Renters are now facing some of the biggest rent hikes we&rsquo;ve since the global financial crisis.&rdquo;

As at June 2021 the median rent of houses and units&nbsp;had jumped to $476 per week,&nbsp;a 6.6 per cent increase compared to the same time last year, according to the latest CoreLogic data.

&ldquo;While wage gains, on average, have picked up slightly from the historical lows recorded at the onset of the pandemic, government income support has gradually unwound, and rental moratoriums have ended,&rdquo; added Oughton.

&ldquo;We may see more renters facing hardship as lockdowns continue, particularly among low-income, low-saving households reliant on government support.&rdquo;

Compared to rent stress, mortgage stress is lower, with 42% of mortgagees reportedly paying more than 30% of their household disposable incomes on mortgage repayments.

A recent CoreLogic analysis suggests servicing a mortgage is now cheaper than paying rent on 36.3% of Australian properties, which is higher than the&nbsp;pre-COVID&nbsp;proportion of 33.9%&nbsp;reported in February last year.&nbsp;

The current level of rent stress is 3% higher than that measured in December 2019, before the COVID-19 pandemic

Rent stress on the rise

Bill McWilliams, the chief investment officer at MaxCap Group, reckons the recent macroprudential intervention from APRA was unlikely to have a material impact on house prices or credit growth.

&quot;We do not expect there to be any constraint in buyer demand for either apartments or house and land packages as a result of the intervention, with appetite to continue to be driven by supply and demand fundamentals,&quot; McWilliams said.&nbsp;

MaxCap is a leading real estate finance and investment manager.

&quot;We do however expect APRA will continue to monitor LVR&rsquo;s and Debt to Income Ratio&rsquo;s for new lending closely, and depending on trends, this could lead to a series of progressive interventions, as happened in 2014 and 2017.&quot;

The recent macroprudential intervention from APRA requires lenders to include an additional 0.5% servicing buffer.

McWilliams said this was &quot;was consistent with our expectations given the recent growth in housing credit at moderately higher debt to income ratios.

&quot;We consider this to be a subtle change only which has been implemented to improve the resilience of borrowers in periods of economic shock by creating a larger servicing buffer.&nbsp;

&quot;Our view is that such a slight change to affordability is unlikely to have a material impact to house prices or credit growth, as less than 10% of home loan applications borrow at capacity.

&quot;APRA itself said &ldquo;the overall impact on aggregate housing credit growth flowing from this is expected to be fairly modest&rdquo;.

Founded in 2007, MaxCap have originated and managed more than $12.3bn of Australian CRE debt across more than 450 loans, with current funds under management and advice of $4.1bn.

Earlier this month McWilliams joined the team at Landream and V-Leader to break ground on the project The International in Brighton, which is being funded by MaxCap.

[smartcode_project:default project_id=26389 project_image_fid=71849]

MaxCap has provided a first mortgage construction facility to S&amp;S Projects for their 11-storey luxury boutique apartment project, Awaken on the Gold Coast.

MaxCap has funded Salvo&rsquo;s mixed-use residential project in Melbourne&rsquo;s Southbank, with the non-bank lender providing a $75 million first-mortgage for the development of Stature, a 35-level mixed-use tower with 175 apartments, commercial office space and ground floor retail space at 35-51 Hanco​ ck Street.

MaxCap Group recently delivered a first mortgage construction facility to Lu​ xcon for the development of its East Melbourne apartment complex.

A $76m debt facility covers land and construction funding for The Address.

Marketing commenced for in late February 2021 with the Sydney-based developer Lu​ xcon securing strong off the pl​ an sales in its first project in Melbourne.

The $125-million, 23 apartment development overlooks Fitzroy Gardens saw five local buyers seek out the apartments prior to their recent official launch.

The 10-storey park-side development at 372-380 Albert Street in East Melbourne features two-, three- and four-bedroom apartments.

The two-bedroom apartments are priced from $2.5 million to $3.15 million and three-bedroom apartments, from $4.5 million to $5.35 million.

The three-bedroom, plus study, sub penthouses are price at $8 million to $8.75 million.

The penthouse is priced at $25 million with its own lap pool.

All of the apartments will have outdoor areas in the Woods Bagot-designed complex.

The first five sales were secured by April with about 95 per cent of inquiry being downsizes from larger homes across Melbourne.

The apartment project will replace a nine-level office building acquired for $30 million in May last year from entrepreneur Nathan Cher, the co-founder of the Run Property Group.

&ldquo;Industry research suggests that East Melbourne is short of apartment sites for developments,&quot; said MaxCap&rsquo;s chief investment officer, Bill McWilliams.&nbsp;

&ldquo;There is significant demand in the East Melbourne area with purchasers looking for quality mid to high rise towers,&rdquo; Mr McWilliams said.&nbsp;

&ldquo;Demand is reportedly strong in the $2m - $5m range and we have seen sales at the level of $30,000 per square metre and above in several recent transactions.

Luxcon&#39;s managing director Ilya Melnikoff recently acquired its second trophy apartment sites in inner Melbourne.

It purchased the Beacon Cove Food Store site in Port Melbourne for $16.65 million. The 1400 sqm site at 103 Beach Street, across the road from Station Pier, was acquired from Melbourne developer V-Leader, which paid $11.2 million for it in 2017.

The East Melbourne project is expected to be complete by December 2022.

Lexicon&#39;s completed Sydney projects include The Aristocrat of Rose Bay at 62A Dover Road, Rose Bay; Jardine at 35 Oxford Street, Epping, and 88 Kensington at 88 Anzac Parade, Kensington.

Bill McWilliams, MaxCap’s CIO, expects APRA will continue to monitor LVR’s and Debt to Income Ratio’s for new lending closely in 2022

MaxCap expect appetite for apartment projects to get through APRA tightening

Billbergia has lodged plans for four apartment towers up to 23 storeys on a 1.3ha Arncliffe site.

The $253 million plans are for 744 apartments, including 180 social housing apartments which will be owned by community housing provider Evolve Housing.

The project includes a 4000sq m public park, shops, shared community facilities and a childcare centre.

It will update the 1940s housing estate owned by the NSW Land and Housing Corporation. 

The island site, bounded by Eden Street, Forest Road and Princess Highway, currently has 14 low-rise social housing buildings.

The estate has been long earmarked for redevelopment with only a 12 or so tenants in residence this time last year.

The 60,000sq m development will comprise four towers, one of 21 storeys, two at 20 storeys and one of 17 storeys.

The site is close to Deicorp’s recently completed, 10-storey, four-building apartment complex at 118 Princes Highway.

 Ralan Group had a project at 213 Princes Highway, building a 318-apartment project until its 2019 collapse.

The Civil Aviation Safety Authority will need to give approval given the proposed high-rise towers would infringe Sydney Airport’s airspace heights limits.

Billbergia has plans for an Arncliffe site near Sydney Airport

Billbergia seek four Arncliffe towers up to 23 storeys

The Australian Tax Office (ATO) reduces some 70 per cent of property investors’ tax returns that it put through review.

The ATO advisory came as it warned property investors that it will be scrutinising all tax claims closely.

More than 1.8 million Australians owning rental properties claimed $38 billion in deductions in the 2019-20 financial year.

ATO assistant commissioner Tim Loh advised there would be extended surveillance for the 2020-21 year.

The ATO’s data matching and “nearest neighbour” technology examines investors’ tax claims.

“Every return is scanned,” Mr Loh said.

Loh said the most common mistake investors make is failing to declare all their income, including capital gains from selling the investment property or holiday home.

“We are expanding the rental income data we receive directly from third-party sources such as sharing economy platforms, rental bond authorities, and property managers," he said.

He told the Herald Sun “on average the correction was about $4500 for each return”.

“Some people are making genuine mistakes but there’s also people who are deliberately doing the wrong thing,” he said.

Property investors can examine the ATO’s online investor’s toolkit and depreciation and capital allowances tool.



The Australian Tax Office (ATO) has advised property investors that it will be scrutinising their tax claims closely.



Property investor tax claims face close ATO scrutiny 

Australia&rsquo;s capital cities experienced a net loss in population through internal migration in the first three months of 2021, the most significant amount in 20 years.

&ldquo;This was the largest net loss on record since the series started in 2001, surpassing the previous record net loss set in the September 2020 quarter (11,200),&rdquo; the ABS report advised.

The data highlights how the pandemic has changed Australian migration patterns.

Brisbane saw the biggest net gain of people, either from elsewhere in Queensland or interstate during the March quarter.

NSW was the leaving point for most of those moving to Queensland.

Sydney had net losses of 5100 to NSW &shy;regions and some 3100 interstate.

Most of Melbourne&rsquo;s departures were to regional Victoria.

Brisbane gained 14,488 residents over the year and 16,322 since the pandemic started.

[smartcode_project:default project_id=102309 project_image_fid=163977]

Melbourne lost 32,203 residents from internal migration over the 12 months and 34,366 since pandemic started.&nbsp;

Sydney lost 31,646 over the year and 39,733 from start of pandemic.&nbsp;

The data came as Queensland&#39;s Deputy Premier Steven Miles advised that almost 50,000 residential lots were in the process of being unlocked in south-east Queensland.

&ldquo;Our strong health response to the COVID-19 pandemic has created a spike in interstate migration which has put pressure on land supply across the state,&rdquo; he told the budget hearing.

&ldquo;While COVID has certainly spurred an increase in interstate migration, we would expect to see further increases over the coming years in the lead-up to the 2032 Olympic and Paralympic Games.&rdquo;

The state government policy is that all local government areas should have four years&rsquo; worth of approved lots, ie land that is ready to go to market.

But Brisbane has just 2.9 years of approved lot supply, Noosa has 1.1 years, the Gold and Sunshine coasts 1.9 years each, Redland 2.9 years, and Moreton Bay 3.2 years.

Brisbane has gained 14,488 residents over the year and 16,322 since pandemic started

Brisbane gets migration fillip during pandemic

The value of owner-occupier first home buyer loans dropped by $532 million, according to latest data from the ABS.

There were $32.05 billion of new home loan commitments in June, down 1.6 per cent month-on-month, the biggest monthly drop since May 2020, according to seasonally adjusted data from the ABS.

But the value of owner-occupier first home buyer loans was down 7.8 per cent month-on-month in seasonally adjusted terms.
 
The value of investor loans rose 0.7 per cent month-on-month to $9.19 billion in June, the highest level in more than 6 years.
 
RateCity.com.au research director, Sally Tindall suggested the growth in home lending "might finally be losing some steam."

And Ms Tindall advised the impact of the latest wave of lockdowns would not be seen until the release of the August ABS data, as new home loans typically take six weeks to settle.
 
“It will be at least a couple of months before we see what impact the latest lockdowns have on the home lending market, however, there’s likely to be more twists and turns ahead.
 
“Would-be buyers who have taken a pay cut during this lockdown could be forced to put their plans on ice for now, while those who’ve kept their jobs and are saving more money working from home, might now be willing to pay top dollar to get into a bigger property,” she said.
 


The value of owner-occupier first home buyer loans dropped by $532 million, or 7.8 per cent month-on-month in seasonally adjusted terms

First home buyer baton change to property investors continues 

The Melbourne apartment developer Pace has seen a spike in sales and inquiries from first home buyers who are finding the established housing market too pricey.

Pace sales and marketing director Ashley Bramich said the developer had been averaging 19 sales a month at its 263-unit Pace of Blackburn project.

It compared with 13 sales before the pandemic at the 160 Whitehorse Road, Blackburn complex designed by Ascui &amp; Co Architects.

[smartcode_project:default project_id=7211 project_image_fid=158008]

The current prices start at $395,000 for one bedroom apartment, from $515,000 for two bedrooms and $805,000 for three bedroom apartments.

Its social media marketing references the impact of the pandemic.

"Overseas travel may be off the cards, but resort-style living? It’s yours for the taking with Pace of Blackburn set to feature a lavish outdoor pool deck complete with a children’s splash pool. Your daily errands will also be taken care of with a dedicated concierge, meaning you can relax and lap up the lifestyle," the social media posting said.

[smartcode_project:default project_id=7211 project_image_fid=39984]

Pace was also seeing 13 sales a month at its Sunshine North townhouse development, up from eight before the pandemic. During the long Melbourne lockdown, Pace was seeing its 360-degree video tours of its Sunshine North townhouses being viewed more than 100 times a week.&nbsp;

"At Sunshine we are building townhouses as quickly as we sell them," Pace founder Shane Wilkinson told The Australian Financial Review this week.

"Demand at the $600,000 to $800,000 price point is very strong. This is partly due to low rates, but also because the established market has become unaffordable." he said.

Pace, which Wilkinson founded in 1992, &nbsp;was now looking to acquire $100 million of new apartment sites.

Its latest acquisition was $11.25 million for a 2653 square metre parcel at 251 Lygon Street, in Brunswick East, where it hopes to develop about 80 apartments.

It creates a 500-unit pipeline across Coburg, Fitzroy and Brunswick East.&nbsp;

Its projects also include the Flemington site bought from the Victoria Racing Club at 550 Epsom Road, near Racecourse Road, in 2018.

Wilkinson said the developer had adopted an aggressive acquisition strategy after settling $120 million of sales in the past 12 months including its Pace of Ascot Vale apartment project along with several stages at its Sunshine townhouse project.

"Not all first home buyers are purchasing house and land [in the outer suburbs]. Many are buying [apartments] off-the-plan," Mr Bramich added.

[smartcode_project_cta: project_id=7211]

Melbourne developer Pace has been averaging 19 sales a month at its 263-unit Pace of Blackburn project

As established property prices soar, Pace see uptick in Melbourne townhouse and off the plan apartment sales 

The site once mooted for a 103-floor Surfers Paradise apartment tower has been listed for sale.

It has been offered through First National Surfers Paradise.

The tower would have been the tallest in the southern hemisphere at 328 metres with 1127 apartments.

The twin-tower venture called Orion Towers was approved five years ago for the Chinese-owned Orion International Group.

Tower One (76 storeys) and Tower Two (103 storeys) was also set to include Australia's highest destination restaurant: Restaurant 101.

Orion’s $1.2 billion plans were set to overtake the Q1 as the tallest in the southern hemisphere.

There was a 680sq m penthouse planned for level 100.

The project was planned to come to market in 2018 with the towers anticipated to be built in stages over a 10 year plus timeframe.

CRA Group undertook a national design competition to select the successful project architect, Woods Bagot.

The 5278 sqm site fronts the Gold Coast Hwy and Markwell Ave, known as the Thrifty property.

It last traded at $25 million in 2016, with one of the purchases being $15.4 million for the Red Lion Motel site.

Orion filed an application with the Gold Coaost council for a four-year extension on the project, so it has until 2025 to start construction.


The 103-floor Surfers Paradise project was to provide 1127 apartments

Tallest Surfers Paradise proposed highrise tower site listed

Cbus Property have reported the sale of three luxury apartments worth $66 million in the 111 Castlereagh St development.

The buyers came from the eastern suburbs and lower north shore.

The biggest sale was a 460sq m double-storey penthouse that fetched about $35 million.

It is called the Jones Residence,&nbsp;named after Sir Charles Lloyd Jones who led the success of the David Jones expansion on which the property sits.

The residence boasts 360‑degree views across the city and towards the Blue Mountains, capturing Hyde Park, Sydney Harbour, the Eastern Suburbs and beyond.

[smartcode_project:default project_id=94354 project_image_fid=170432]

The two smaller sub penthouses in the 101-unit project sold for about $15.5 million each.

The sales marked "a resurgence in the return of Sydney city living and the ongoing appetite for high-end, primely located residential property, despite the challenges of the current COVID-19 climate,” Cbus Property CEO Adrian Pozzo said.

Selling agent Colliers Residential managing director Peter Chittenden said the four-bedroom penthouse occupies part of level 33 and the entire 34th level and includes two kitchens, living areas, a wine cellar and a butler’s pantry.

Cbus has two four-bedroom sky homes and a selection of expansive one, two and three-bedroom residences still for sale in the project set to be finished by the end of 2023.

[smartcode_project_cta: project_id=94354]

Three luxury apartments have been sold off-the-plan in the 111 Castlereagh St development

$35 million penthouse sale secured in 111 Castlereagh by Cbus

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

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