The RBA board has noted that housing markets have strengthened further, "with prices rising in all major markets."

It noted housing credit growth has picked up, with strong demand from owner-occupiers, especially first-home buyers. 

It also acknowledged there has also been increased borrowing by investors. 

"Given the environment of rising housing prices and low interest rates, the bank will be monitoring trends in housing borrowing carefully and it is important that lending standards are maintained," the bank governor Dr Philip Lowe advised.

The bank again advised it will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. 

"For this to occur, the labour market will need to be tight enough to generate wages growth that is materially higher than it is currently. 

"This is unlikely to be until 2024 at the earliest," Dr Lowe noted.

It added "an important ongoing source of uncertainty (in the economic recovery) is the possibility of significant outbreaks of the virus, although this should diminish as more of the population is vaccinated."

The rate decision came after CoreLogic advised Australia's COVID-19 property boom continued in May with housing prices up  2.2 per cent which puts it at more than 10 per cent since the pandemic hit.

Hobart and Sydney had the strongest price growth in May.

The RBA noted housing credit growth had picked up, with strong demand from owner-occupiers, especially first-home buyers. 

jchancellor-FAypfDUnLy

All major housing markets see price rises: RBA

A development with fluted facade in Elwood by Keystone Property Group has just five of the 15 apartments remaining for sale on completion.

The Ensemble project comes with sculptural, striking vertical aspect with arched ground-level windows to mimic the art deco homes in the area.

KUD Architects sought to evoke the waves of nearby Port Phillip Bay with landscaping by John Patrick Landscape Architect.

Almost half of those sold in the 15-apartment complex were to downsizers.

[smartcode_project:default project_id=3119 project_image_fid=35536]

The apartments range from 110-141sq m, featuring marble surfaces in the kitchens and bathrooms, and oak floors in the living areas.

Outdoor spaces span from 12sq m up to 118sq m for the courtyard garden ground-floor residences.

There is a landscaped rooftop barbecue area at the Tennyson St location, a short walk from a popular shopping village and the beach.

The remaining apartments cost from $1.495 million to $2,595,000 through Michael Paproth at The Agency.

[smartcode_project:default project_id=3119 project_image_fid=35534]

Elwood&#39;s apartment prices sit at a $675,000 median, according to realestate.com.au, with units typically rented for $410 pw reflecting a rental yield of 3.2%.

Keystone Property Group is a Melbourne based developer formed in 2006 by Ray Evans and Luke Daley.&nbsp;

Keystone has developed numerous properties in inner city regions such as Footscray, Brunswick and Prahran, with a focus on boutique properties in high growth areas.

[smartcode_project_cta: project_id=3119]

KUD Architects sought to evoke the waves of nearby Port Phillip Bay with landscaping by John Patrick Landscape Architect

Five apartments remain for sale in Keystone's Ensemble, Elwood development

A 27nd floor apartment in the 2017 Brisbane City complex Abian Residences has been sold for $3.1 million.

The sale by Ray White agent James McKinlay was the three bedroom, two bathroom at 3202/140 Alice Street.

It had previously sold off the plan in 2014 by Sunland at $2,705,000.

It came with floor to ceiling glass showcasing views across the Botanic Gardens and the Brisbane River and beyond to the Kangaroo Point Cliffs.

There was a vast living area is positioned at the centre of the apartment, plus a combined lounge and dining space, sleek kitchen and two separate balconies.

<a href="/developments/brisbane-qld?source_news_article_id=101203&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_brisbane_3.jpg" width="1200" /></a>

Occupying the east wing of the residence, the master bedroom had a luxe ensuite with underfloor heating and electric bidet.&nbsp;

The other two bedrooms are positioned on the west side, sharing river views.

Abian&#39;s facilities including a dual lane 25m lap pool and spa, fully equipped state-of-the-art Technogym, plunge pool, Hammam thermal stone room, sauna, steam room and massage treatment rooms.

Sunland secured its sellout in late 2015 in the 41-storey Abian tower development, located at the entrance to Brisbane&rsquo;s historic Botanic Gardens.

Abian, which was Brisbane&rsquo;s first luxury tower project in more than five years, comprises 150 luxury dwellings with an end value of $240 million.

There is a fresh listing of a sub penthouse - 3-bedroom + office - through Veronica Royal featuring 23-metre glass frontage at 2703.

It first traded at $2.69 million off the plan in 2014.

Ray White secured the $3.1 million Abian Residences trophy apartment sale 

$3.1 million Abian Residences, Brisbane City Sunland-built trophy apartment sale

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Nine Entertainment's digital and print real estate media business Domain Holdings is set acquire the Commercialview.com.au website.

For starters Domain will spend $2 million in cash to secure the commercial property digital listings platform, which had most of its footprint in Melbourne and Sydney.

CommercialVIEW.com.au is a stand-alone commercial real estate advertising portal that is industry owned, directed by Ben Cooper, Stephen Gorman, Malcolm Gunning and its CEO Daniel Bignold. Its issued capital is given as $3.8 million, with nine million ordinary shares on issue and 310,000 redeemable preference shares.

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During the past year the board exercised its power to change the option terms with the exercise price of the options reduced from $0.50 to $0.00.
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It was established in 2012 under the stewardship of Petra Sprekos and Enzo Raimondo of the REIV.

In 2016 Bignold made a rare public comment on the state of the website.

Bignold said the dominant players in the market had been able to press prices higher, putting pressure on commercial property agents. 

"We have a price point that’s very fair and reasonable, and is less than our competitors," he noted. 

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/17/CommView.jpg">

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Domain Holdings Australia Limited announced its commercial real estate business, Commercial Real Estate entered into a three stage agreement with shareholders of Commercialview.com.au Limited to acquire 100% of the issued share capital in CommercialView.

The acquisition will occur through a subsidiary of Domain, Commercial Real Estate Media Pty Limited (“CREM”), which is currently approximately 70% owned by Domain and 30% owned by members of the commercial real estate industry.

The consideration for the proposed transaction is anywhere between $4.2 million and $17.2 million, contingent on targets relating to the future financial performance of the CREM and CommercialView businesses. 

The on-target consideration is $10.2 million, which is equivalent to four times the projected increase in EBITDA from the transaction for calendar year 2020, including synergies.

The maximum consideration for the acquisition is $17.2 million of which a maximum of $2 million is payable in cash. The remainder is payable in newly issued shares in CREM.

Domain Group CEO Jason Pellegrino said there had been unanimous support for the transaction from CommercialView shareholders.

The commercial property website recently reported another loss in its annual results which gave its revenues as $1.6 million.

It was segmented into $440,000 subscription revenue, $150,000 banner advertising and over $1 million in depth revenue.

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The 2018 financial year loss of the company after providing for income tax amounted to $8,500 compared to its $428,000 loss in the prior year.

Its directors, who noted it was a high demand/low supply commercial property market, slashed marketing expenses from $386,000 to $255,000. 

"For a portal, this is a difficult market to extract revenue as not only stock levels are low, but when stock is listed it generally move fast and doesn’t require large ongoing advertising budgets. 

"Total new listings that hit the CVIEW portal in FY18 compared to FY17 were down 21 percent and listings for sale were down 29 percent yoy. 

"This creates a large void for listing upgrade opportunities particularly investment stock which generally attract a larger advertising budget."

The revenue focus for the year was seeking upgrade opportunities for remaining sales stock and also to leverage the larger proportion of leasing stock in the market.

The business has had a "clear strategy" of tightening up on expenses without negatively impacting the operations, which resulted in a 22 percent reduction in expenses and $150,000 positive full year EBITDA and an $88,000 increase in cash balances for the year. Its assets included $474,000 in cash and $193,000 in trade receivables.

Its deferred tax assets sit at $700,000 plus.
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Completion of the proposed transaction is targeted to occur on 21 December 2018.

The consideration is payable in three tranches, partially contingent on targets relating to the future financial performance of the CREM and CommercialView businesses, as follows:

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	a payment of $4.2 million to be paid at completion as a combination of cash and CREM shares, amounting to approximately a 3.7% equity interest in CREM;
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	a second payment payable in early 2020, in the range of $0 to $5 million to be paid as a combination of cash and CREM shares; and
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	a third payment in early 2021, in the range of $0 to approximately $8 million payable in CREM shares.
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Commercialview.com.au sold by estate agents to Domain

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<img src="https://counter.theconversation.edu.au/content/73850/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The privatisation of urban infrastructure in Australia is an ironic story.
The vehicles of urban infrastructure – the utilities and the state-owned enterprises – were so central to the life of cities that they became perfect entities for private sell-off.
We now live with the consequences of the sell-off.
The utilities flourished in Australia as a nation-building exercise following the second world war. The Bretton Woods agreement entrenched Keynesian fiscal behaviours across the Western world. 
The utilities thrived on the willingness of governments to raise capital for public works. They were also central to the development of state capacity and the assembly of a career-based professional public service. As part of the social compact, the public accepted reasonable user pricing for the availability of water, energy, public transport and telecommunications services.
Hence, the utilities and the state-owned enterprises led the roll-out of urban infrastructure in the second half of the 20th century. This roll-out shaped the nature of Australian urban life, its format and flows.
But then fiscal crisis of the state descended in the 1970s and 1980s. The sell-off of public assets was seen worldwide as a solution to state indebtedness. Arguments that private enterprise could deliver infrastructure services more efficiently added impetus. 
<h2>A wholesale transformation</h2>
Few governments resisted the sell-off urge. Australian governments, state and federal, participated in the sell-off, though in a stuttering manner. Through time, however, the change has been substantial.
Abbott and Cohen calculate that the output of state-owned enterprises in Australia in 1989-90 accounted for 7 percent of GDP, 9 percent of total employment, and 14 percent of gross fixed capital expenditure. 
By 2011-12, the output of state-owned enterprises had fallen to 1.3 percent of GDP. Their gross fixed capital expenditure contributed only 1.8 percent of the nation’s total. The authors estimate that proceeds from privatisations in Australia since 1987 total around A$194 billion (in constant year 2000 dollars).
The sell-off commercialised and privatised a raft of assets: electricity generation and transmission, gas distribution, airports, ports and telecommunication. New assets went straight to private hands: motorways, public transport, renewable energy generation, and freight handling.
The shedding of public responsibility for infrastructure meant public investment in Australia as a share of GDP fell from more than 5 percent in the mid-1980s to well below 3 percent by the end of the 1990s.
<h2>What’s in it for investors?</h2>
There is much to understand about the sell-off. Here I focus only on why private investors are willing to pay extraordinary prices to acquire urban infrastructure assets.
The attraction of investing in an urban infrastructure asset comes from the infrastructure services being embedded in the daily flows of people, water, energy and information throughout a city. The flows of a city are remarkably ordered in terms of volume, direction and timing. 
How a city operates is dependent on the co-existence of decisions by infrastructure operators and users. The operators decide how and when services will be available. Households and firms decide what they will be doing across a 24-hour day and therefore how and when they will use the infrastructure services on offer.
Thus, the efficiency of infrastructure provision comes from the predictability of the flows of a city. These in turn come from a historical patterning and sequencing of behaviours by householders and firms as they read off and conform to each other’s movements.
An example is the relatively sympathetic structuring and sequencing of work hours and school hours. This ensures that public transport facilities are utilised more efficiently in peak hours, while the hours that parents and children spend together are made more convenient.
The embeddedness of infrastructure into city life means that revenue streams from user fees for infrastructure services are highly predictable and stable. And because transport, water and energy supply is usually monopolised, the householder has little choice but to continue as a consumer of an infrastructure service.
The books of a utility or state-owned enterprise, then, represent a discrete set of households well trained to pay their monthly bills. This is precisely the type of revenue stream that pension, insurance and sovereign wealth funds seek when faced with the peculiar problem of having surplus cash to lock away for at least the next two decades.
<h2>What did we lose in the sell-off?</h2>
Perhaps it was clever to have solved a government debt problem in Australia back in the day through a sell-off of assets to a new class of long-term investor. But as a consequence we have lost other things. 
Infrastructure as a planning tool to shape our cities is one. Revenue streams to subsidise needy customers or supply to remote locations is another.
And, critically, we have lost the opportunity for the state to revamp energy, water and transport systems to allow for innovative supply and demand formats – such as distributed electricity supply networks – that are more appropriate to a climate-threatened planet.
Long-term privatisation contracts, most of them closed to scrutiny, lock urban infrastructure provision into 20th-century formats.
The difficult task now will be their unlocking.
Phillip O'Neill is director, Centre for Western Sydney, Western Sydney University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/phillip-oneill-125643" target="_blank">here</a>.
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Stumbling into the future: living with the legacy of the great infrastructure sell-off

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Reduced migration will likely make apartments cheaper, according to BIS Oxford Economics chief economist Dr Sarah Hunter.

“In terms of long-term sustainability, there’s still demand shock around [reduced] migration, which will likely make apartments cheaper,” Dr Hunter said.

Overall if local coronavirus cases remained under control and unemployment remained stable, Dr Hunter forecasts regional areas and detached houses in smaller capitals should continue to streak ahead.

She said there was residual demand from buyers capitalising on buyer’s grants and stamp duty concessions.

“Falling interest rates improved affordability which helped demand, but supply hasn’t responded all that much yet as the volume of transactions – although they are turning – have not risen anywhere near as much,” Dr Hunter told The New Daily earlier this month.

In July Hunter anticipated Sydney's property prices would fall for 18 months — and "maybe even beyond that" — because of coronavirus.

While she did not see a sharp drop in prices, she envisaged demand for rental properties dropping due to the lack of international students, tourists and overseas workers living in Sydney. 

Ms Hunter suggested that may result in property owners withdrawing homes from the rental market and selling them instead. 

"We might see some landlords look to sell their properties if they can't see a quick resolution to the situation, which does seem likely in the next 12 months,” she told the ABC.

“It does look very challenging."
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“In terms of long-term sustainability, there’s still demand shock around [reduced] migration, which will likely make apartments cheaper."


Reduced migration to make apartments cheaper: BIS Oxford Economics

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The absence of first-home buyers in NSW is becoming a major political and housing issue.
But it presents a bonus for investors, given the likely lack of competition in securing some properties at the moment.
Much of the finger pointing has been at the NSW state government following the axing of its first-home owner concessions for the purchase of existing homes. 
The Daily Telegraph has estimated there might be 40,000 fewer buyers this year after Treasurer Mike Baird's tightening of eligibility for the first-home owner grants.
The decison is estimated to boost government coffers by $1 billion a year – more than twice the figure originally budgeted.
The ABS statistics for December last year revealed yesterday just 988 NSW first home owner loans compared to about 4200 in December 2011, when the full array of government grants were available.
But its not just NSW where first- home buyers are pulling back.
The ABS first-time buyer numbers showed nationally they accounted for 14.9% all loans taken out in December – the smallest proportion since 2004 and well below the recent 20% average.
The state govenments that have initiated the shift to new home subsidy rather than continue with the established home subsidy always suggested it would take a while for first-home buyers to adjust to the new incentives.
But while Westpac had expected first-home buyer (FHB) loans to remain soft in December due to the demand shifts associated with changes in state government incentives/stamp duty arrangements, it found actual state mix puzzling.
"We had expected December to show particular weakness in Victoria where stamp duty concessions for FHBs were set to increase substantially in January.
"Meanwhile NSW was expected to stabilise as the unwind from a previous pull forward in demand ended," Westpac notes.
"Instead FHB approvals posted another steep fall in NSW to extremely low levels (lowest since early 1990s), with a sharp fall in Queensland as well but a more modest decline in Victoria.
"WA is the only state showing consistent gains in FHB approvals," Westpac notes.
The decline in first-home buyer finance approvals was mostly offset by an estimated 5% rise in the number of loans to 'upgraders',  with solid gains coming across the big eastern states in particular.
Investor activity softened, with the value of investor approvals falling 2.4% in December after strong gains in previous months.
December’s housing finance figures showed some encouraging signs for the residential building industry, but do not herald a recovery, according to Peter Jones, Master Builders Australia’s chief economist, who added that while there were positives in the figures for builders, the industry was not yet out of the woods.
“Looked at in isolation, today’s figure suggests interest rate cuts from the Reserve Bank may be beginning to gain traction, but any broad based recovery appears a way off.
“In the broader real estate market, the decline in first home buyers that continued in December is a concern given the various incentives across several states to entice them into the market.
“With consumers still reluctant to commit to large investments, the Reserve Bank should give urgent consideration to a rate cut at its March board meeting,” Jones said.
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First-home buyer absence a blessing for investors

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The executive chairman of Aussie, John Symond expects investors will continue to dominate property purchases into 2014.
He sees this as "a long term fundamental shift" in the property market.
It comes as first home buyers typically failed to compete against investors in what Symond called the many hot property pockets of many capital cities during the spring selling season.
First home buyers are absenting themselves from the market at a time when the conditions are actually rather favourable for them given interest rates are at historic 50 year lows and mortgage repayments as a proportion of average disposable incomes are lower than for much of the last two decades. John Symond reckons the current potential first home buyers are preferring to invest in shares and rent in apartments nearer their workplaces or CBDs.
Symond sees part of the solution for the Federal government to look at creating tax incentives for first home buyers to save for a deposit.
There is the existing first home buyer saving accounts scheme introduced by Prime Minister Kevin Rudd, which after plenty of patience offers a terrific honey pot, but just doesn't seem to have gathered much traction.
Yes the required home buying deposit has risen considerably as prices rose faster than incomes - from around 2.5 times the average disposable household income in 1985 to around 4.5 times now - but maybe there are other life priorities that has triggered this apparent baulking at the requisite deposit hurdle.
It's a little early to judge an entire generation on one overly-zealous selling season, but home ownership rates have been in decline since the mid-1990s with the most substantive drop being among households in the 25-44 age bracket.
Any such demographic shift will be a fillip to investors who not doubt have some anxiety over issues of supply and demand especially in the apartment rental market. they'd be watching the recent rather contradictory rental vacancy statistics with for instance SQM having Sydney rental vacancies increasing while the REINSW had them reducing.
It's also a little exaggerated to suggest as Robert Gottliebsen, the Business Spectator columnist did, that the home ownership dream was fading, at least in the inner city,  "increasingly replaced with a tenant relationship with Chinese landlords." Lastly John Symond warns that first home buyers, who now make up about 13% of all loans written, should avoid the temptation of going after very low deposit loans as they can lead to financial stress.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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A first home buyer generation with other priorities? 

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Just $200 million was given in first home buyer grants across NSW last year.
<a target="_blank" href="https://www.osr.nsw.gov.au/sites/default/files/file_manager/fhog_apps_received_3.pdf">It was the lowest year on record</a>. The aim of attracting first home buyers into new homes - not established ones to boost construction - has allowed the state government to get the good idea headlines, but then saved millions in the budget bottom line.
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Source: NSW Office of State Revenue statistics
 
The list is an interesting mix of old and new, of greenfields and increased urban density.
<a target="_blank" href="/news">Parramatta</a> buyers topped the list of recipients with around $5.4 million in grants in the 2150 postcode. Parramatta, one of Sydney's oldest locations is undergoing a transformation with major residential projects including <a target="_blank" href="https://vbycrown.com.au">V by Crown</a> headlining its renaissance. 
The $300 million “vertical village” was officially launched in 2012, with construction of the 27-storey tower – set to be Parramatta’s tallest building – well underway. V by Crown recently reached $150 million in sales, with more than 270 apartments sold up since the project was launched in 2012.
<a target="_blank" href="/news">Spring Farm</a>, which sits second on the list of recipient postcodes at 2570, is one of the newer suburbs on the south-western rural/urban precinct. 
Spring Farm is surrounded by <a target="_blank" href="/news">Elderslie</a> to the north, <a target="_blank" href="/news">Narellan Vale</a> to the northeast, <a target="_blank" href="/news">Mount Annan</a> to the east and <a target="_blank" href="/news">South Camden</a> in the south. Until recently it principal land use has been the poultry production by the Tegal family and Neville Clinton, along with extensive orchards and vineyards along the floodplain of the Nepean River. 
The first urban development in Spring Farm was in the Ettlesdale Road area in the 1960s. In 2006 the population of the Spring Farm was 287 predominantly made up of young families with 44% of the population under 25 years of age.  
The area is planned to have around 3,900 housing lots with three separate developers, the Cornish Group with 1100 lots, Landcom 1,400 lots and Mirvac, 450 lots.
I noticed Mirvac recently sold a seven hectare holding to the Starhill Property Group for $7 million last November. In 2008 at Mirvac's Ayre three-bedroom, two-bathroom townhouses were for sale starting from $335,000. House-and-land packages in Mirvac's Ayre started from about $357,000 in 2012. 
Lots of land have been selling at around $200,000 plus since the first Spring Farm estate was opened in 2007 off Richardson Road.
<a target="_blank" href="/news">Arncliffe</a> and <a target="_blank" href="/news">Waterloo</a> were the most established suburbs in the top 20 postcode recipient list.
<a target="_blank" href="/news">Woollongong</a>, with $2.1 million in grants, rounded out the list.
The top 20 postcodes securing around $71 million of the total funding which is a mix of the grant and stamp duty concessions.
There were around 9,500 recipients who secured the mix of grants.
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Source: NSW Office of State Revenue statistics
news@propertyobserver.com.au
 
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Just $200 million in NSW first home grants last year

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Three Charterhill entities owe creditors a combined $11.5 million, according to the latest presentation of accounts.
The Adelaide-based group offered a range of services including SMSF advice, mortgage broking, real estate marketing, property management along with contract negotiation.
Charterhill Group entered insolvency in January, with many clients now caught in the wreckage of chartered accountant George Nowak’s empire.
Some related Charterhill entities are among the unsecured creditors, with about 110 clients having been caught up in the collapse having paid deposits for property purchases, previous reports suggested.
The three of the Charterhill companies have collected just the $25,000 in payments, according to their six-month presentation of accounts, The Advisor said.
The companies are under the control of the receiver, Michael Basedow of Pitcher Partners or under the control of the liquidator, Andrew Heard of Heard Phillips. 
The Charterhill Group operated as a “one-stop shop”, providing advice to clients on the establishment of self-managed superannuation funds, rollover of existing super funds into an SMSF, sourcing and purchase of investment properties, property management, insurance and taxation.
It companies included, Nova Real Estate — in administration; Lending Solutions International — in liquidation; EJ Property Developments (EJPD) (formerly known as Charterhill Group and Bentley Capital) — in receivership and Financial Wellness (trading as EZ Residential) — in receivership.
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Charterhill owes $11.5 million to creditors

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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