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An 11.8% annual rise in rents and a 9.9% annual increase in occupancy costs has propelled the Perth CBD into the top 20 most expensive office rental markets in the world, according to the September quarter semi-annual global office report from CBRE.
Perth ranked 20th most expensive prime office market to rent space, with an average rent per square metre cost of $850 and total occupancy costs of $1,003.
Rents and occupancy costs in the Perth CBD have soared on the back of demand for office space from businesses with the ties to the mining investment boom.
The Property Council of Australia <a href="https://www.propertyobserver.com.au/office/perth-and-brisbane-dominate-record-demand-for-cbd-office-in-first-six-months-of-2012-property-council-report/2012080155827">recorded a vacancy rate of 4.2% in the Perth CBD</a> in July, down from 7.8% in July 2011, with the city managing a net absorption rate of 115,000 square metres over the first six months of the year – nearly half the national net absorption rate of 243,000 square metres.
Sydney remains Australia’s most expensive prime CBD office market, ranking 14th on the CBRE list, one position up from six months ago. Prime Sydney rents have hardly moved over the past year (up 0.8%) at $1,048 per square metre, while occupancy costs have risen by 1.3% to total average occupancy cost of $1,232 per square metre.
Brisbane ranked 30th on the global list, one up from its ranking at the end of March, with a total occupancy cost of $818, up 1.7%, with rents up 1.3%.
Melbourne ($637 per square metre total occupancy cost) does not feature in the top 50, with the list headed by Hong Kong followed by Central London’s West End, Tokyo, Beijing and New Dehli.
San Francisco, which ranked 26th most expensive office rental market in the world, experienced the largest year-over-year increase, at 36.4%, of the 133 markets monitored by CBRE, driven by its “hot technology sector”.
Top 50 Most Expensive Office Markets as of September 30, 2012
 
<table width="463" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td nowrap width="47" valign="bottom">
Rank
</td>
<td nowrap width="287" valign="bottom">
Market
</td>
<td nowrap width="129" valign="bottom">
Occ. Cost (US$)
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom"></td>
<td nowrap width="287" valign="bottom"></td>
<td nowrap width="129" valign="bottom"></td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
1
</td>
<td nowrap width="287" valign="bottom">
Hong Kong (Central), Hong Kong
</td>
<td width="129" valign="bottom">
246.30
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
2
</td>
<td nowrap width="287" valign="bottom">
London - Central (West End), United Kingdom
</td>
<td width="129" valign="bottom">
219.81
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
3
</td>
<td nowrap width="287" valign="bottom">
Tokyo (Marunouchi Otemachi), Japan
</td>
<td width="129" valign="bottom">
197.27
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
4
</td>
<td nowrap width="287" valign="bottom">
Beijing (CBD), China
</td>
<td width="129" valign="bottom">
184.95
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
5
</td>
<td nowrap width="287" valign="bottom">
New Delhi (Connaught Place - CBD), India
</td>
<td width="129" valign="bottom">
183.30
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
6
</td>
<td nowrap width="287" valign="bottom">
Beijing (Finance Street), China
</td>
<td width="129" valign="bottom">
179.57
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
7
</td>
<td nowrap width="287" valign="bottom">
Hong Kong (West Kowloon), Hong Kong
</td>
<td width="129" valign="bottom">
174.13
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
8
</td>
<td nowrap width="287" valign="bottom">
Moscow, Russian Federation
</td>
<td width="129" valign="bottom">
172.82
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
9
</td>
<td nowrap width="287" valign="bottom">
London - Central (City), United Kingdom
</td>
<td width="129" valign="bottom">
131.76
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
10
</td>
<td nowrap width="287" valign="bottom">
São Paulo, Brazil
</td>
<td width="129" valign="bottom">
130.07
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
11
</td>
<td nowrap width="287" valign="bottom">
Mumbai (Bandra Kurla Complex), India
</td>
<td width="129" valign="bottom">
122.19
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
12
</td>
<td nowrap width="287" valign="bottom">
Rio de Janeiro, Brazil
</td>
<td width="129" valign="bottom">
121.40
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
13
</td>
<td nowrap width="287" valign="bottom">
Paris Ile-de-France, France
</td>
<td width="129" valign="bottom">
119.78
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
14
</td>
<td nowrap width="287" valign="bottom">
Sydney, Australia
</td>
<td width="129" valign="bottom">
119.04
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
15
</td>
<td nowrap width="287" valign="bottom">
Shanghai (Pudong), China
</td>
<td nowrap width="129" valign="bottom">
116.36
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
16
</td>
<td nowrap width="287" valign="bottom">
New York (Midtown Manhattan), U.S.
</td>
<td width="129" valign="bottom">
114.30
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
17
</td>
<td nowrap width="287" valign="bottom">
Shanghai (Puxi), China
</td>
<td width="129" valign="bottom">
108.25
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
18
</td>
<td nowrap width="287" valign="bottom">
Geneva, Switzerland
</td>
<td width="129" valign="bottom">
105.28
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
19
</td>
<td nowrap width="287" valign="bottom">
Singapore, Singapore
</td>
<td nowrap width="129" valign="bottom">
104.66
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
20
</td>
<td nowrap width="287" valign="bottom">
Perth, Australia
</td>
<td width="129" valign="bottom">
96.91
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
21
</td>
<td nowrap width="287" valign="bottom">
Caracas, Venezuela
</td>
<td width="129" valign="bottom">
95.68
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
22
</td>
<td nowrap width="287" valign="bottom">
Washington, DC (Downtown), U.S.
</td>
<td nowrap width="129" valign="bottom">
94.51
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
23
</td>
<td nowrap width="287" valign="bottom">
Dubai, United Arab Emirates
</td>
<td width="129" valign="bottom">
92.56
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
24
</td>
<td nowrap width="287" valign="bottom">
Seoul (CBD), South Korea
</td>
<td width="129" valign="bottom">
91.28
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
25
</td>
<td nowrap width="287" valign="bottom">
Mumbai (Nariman Point - CBD), India
</td>
<td width="129" valign="bottom">
90.80
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
26
</td>
<td nowrap width="287" valign="bottom">
San Francisco (Downtown), U.S.
</td>
<td width="129" valign="bottom">
90.00
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
27
</td>
<td nowrap width="287" valign="bottom">
Zurich, Switzerland
</td>
<td nowrap width="129" valign="bottom">
87.98
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
28
</td>
<td nowrap width="287" valign="bottom">
Boston (Downtown), U.S.
</td>
<td width="129" valign="bottom">
87.50
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
29
</td>
<td nowrap width="287" valign="bottom">
Istanbul, Turkey
</td>
<td width="129" valign="bottom">
82.78
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
30
</td>
<td nowrap width="287" valign="bottom">
Brisbane, Australia
</td>
<td width="129" valign="bottom">
79.04
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
31
</td>
<td nowrap width="287" valign="bottom">
Luxembourg City, Luxembourg
</td>
<td width="129" valign="bottom">
77.94
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
32
</td>
<td nowrap width="287" valign="bottom">
Los Angeles (Suburban), U.S.
</td>
<td width="129" valign="bottom">
76.84
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
33
</td>
<td nowrap width="287" valign="bottom">
Stockholm, Sweden
</td>
<td width="129" valign="bottom">
76.35
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
34
</td>
<td nowrap width="287" valign="bottom">
New York (Downtown Manhattan), U.S.
</td>
<td width="129" valign="bottom">
74.93
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
35
</td>
<td nowrap width="287" valign="bottom">
Seoul (Yeouido), South Korea
</td>
<td width="129" valign="bottom">
74.27
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
36
</td>
<td nowrap width="287" valign="bottom">
Milan, Italy
</td>
<td width="129" valign="bottom">
74.21
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
37
</td>
<td nowrap width="287" valign="bottom">
Guangzhou, China
</td>
<td nowrap width="129" valign="bottom">
72.88
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
38
</td>
<td nowrap width="287" valign="bottom">
Bogota, Colombia
</td>
<td width="129" valign="bottom">
70.76
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
39
</td>
<td nowrap width="287" valign="bottom">
Calgary (Downtown), Canada
</td>
<td width="129" valign="bottom">
70.59
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
40
</td>
<td nowrap width="287" valign="bottom">
Aberdeen, United Kingdom
</td>
<td nowrap width="129" valign="bottom">
70.20
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
41
</td>
<td nowrap width="287" valign="bottom">
Manchester, United Kingdom
</td>
<td width="129" valign="bottom">
69.80
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
42
</td>
<td nowrap width="287" valign="bottom">
Edinburgh, United Kingdom
</td>
<td width="129" valign="bottom">
69.02
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
43
</td>
<td nowrap width="287" valign="bottom">
Taipei, Taiwan
</td>
<td width="129" valign="bottom">
68.57
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
44
</td>
<td nowrap width="287" valign="bottom">
Birmingham, United Kingdom
</td>
<td nowrap width="129" valign="bottom">
68.36
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
45
</td>
<td nowrap width="287" valign="bottom">
Toronto (Downtown), Canada
</td>
<td width="129" valign="bottom">
68.00
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
46
</td>
<td nowrap width="287" valign="bottom">
Vancouver (Downtown), Canada
</td>
<td nowrap width="129" valign="bottom">
67.20
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
47
</td>
<td nowrap width="287" valign="bottom">
Frankfurt am Main, Germany
</td>
<td width="129" valign="bottom">
66.31
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
48
</td>
<td nowrap width="287" valign="bottom">
Bristol, United Kingdom
</td>
<td width="129" valign="bottom">
65.10
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
49
</td>
<td nowrap width="287" valign="bottom">
Oslo, Norway
</td>
<td width="129" valign="bottom">
64.91
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
50
</td>
<td nowrap width="287" valign="bottom">
Glasgow, United Kingdom
</td>
<td width="129" valign="bottom">
64.31
</td>
</tr>
</tbody></table>
Source: CBRE Global Research and Consulting

<hr class="system-pagebreak">
The latest semi-annual prime office occupancy costs survey reveals the dominance of the Asia-Pacific region in the top 10 most expensive business locations worldwide continued, led by Hong Kong-Central – the world’s most expensive market - and five other Asian markets.
Despite economic headwinds, occupancy costs increased by an average of 2.1% worldwide over the past year, led by the Americas, with a 5.2% annual increase and Asia-Pacific with a 2.6% increase. Europe, the Middle East and Africa continued to be hindered by economic recession in much of Europe and recorded a 0.4% decrease in prime occupancy costs. Prime office occupancy costs increased in 74 markets, decreased in 37 office markets and had no change in 22 markets.
“The global office market recovery cooled over the past year, hampered by the ongoing European debt crisis, a deceleration of growth in emerging markets and ubiquitous  uncertainty created by the ‘fiscal cliff’ in the US," says Dr Raymond Torto, CBRE’s global chief economist. “However, tight market conditions, strong demand for high quality space and low levels of new construction continue to drive up occupancy costs in many prime office markets across the globe.”
 CBRE tracks occupancy costs for prime office space in 133 markets around the globe.
Of the top 50 most expensive markets, 19 are in EMEA (Europe, Middle East and Africa), 18 are in Asia-Pacific and 13 in the Americas.
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lschlesinger-FZcF9M3vE6

Perth CBD moves up to 20th most expensive market to rent office space in the world: CBRE

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Prospects are looking somewhat brighter for the NSW central coast property market in 2013 with a large decline in mortgagee sales and the market consolidating over the course of 2012.
In-house records from property values Herron Todd White (HTW) show that instructions to provide mortgagee valuations in the popular retirement destination and lifestyle location were down by 36% over 2012.
HTW says it was “heartened” by the fewer mortgagee sales and “happy to see less of this work”.
But the valuation firm added that notwithstanding this improvement, “we understand that lender and mortgage insurers continue to closely monitor the region, indicating to us that the region remains vulnerable as owners struggle with mortgage payments and living costs”.
HTW says its prediction that the central coast market in 2012 would be the year of first-home buyers and investors proved accurate.
“At the half-time oranges break, we saw this as being correct and at the full-time siren, this appears confirmed.
“Once again, sales in the sub-$400,000 category accounted for a majority of the property sales on the central coast.
“This confirms reports from real estate agents that first home buyers and investors are sustaining the market,” says HTW.
Realestate.com.au has over 4,000 listings on the central coast, but only one property advertised as a mortgagee sale – a <a target="_blank" href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-fountaindale-111892771">four-bedroom house set on a 6,700-square-metre semi-rural block in Fountaindale</a> listed with $700,000 hopes through Debbie Montgomery of McLachlan Partners Long Jetty.
The property's asking price has been reduced from $749,000 after failing to sell at auction in November. RP Data records show the property was available for rent in October at $1,600 per week.
Realestate.com.au records 28 mortgagee-in-possession sales since the start of the year.
HTW says there was a “distinct level of neutrality” about the central coast property market in 2012, with the “odd surprise, but no headline grabbing record sales or bargains”.
“At this point, we are a little way short of having confirmed figures for the year, but with the information available, we have concluded that it has been a year of consolidation and possibly getting back into a cycle of values that might remind us of years past.
“These were good times when plans and budget could be made without too many reviews,” says HTW.
The central coast, the ninth largest urban area in Australia, consists of two local government areas – City of <a target="_blank" href="/news">Gosford </a>and <a target="_blank" href="/news">Wyong</a> Shire.
HTW reports a 2.1% drop in dwelling sales in Gosford sales over the previous year with the median values down by about 2.3% during this period.
In the more volatile unit market, Gosford sales numbers were up by about 4.6%, with the median value falling by 3.8%
There was more sales activity in Wyong, with dwelling sales up by almost 6%, but with a fall in median value of around 1%.
Wyong unit sales were also up by an encouraging 1.7%, but the median sale price fell by close to 4%.
“The worry here is the 30% fall in vacant land sales, but with slightly higher median value," says HTW.
“A reduction in land sales in the Wyong LGA of 30% is better than the previous year, but indicates the statistics are correct when a slowing of building activity is mentioned. We look forward to seeing how this will change with the new first home buyer’s [$15,000] scheme for new dwellings coming into play."
As with weaknesses at the prestige end of the Sydney housing market, HTW notes that apart from Wyong land sales, the other segment that again shown the least activity during 2012 include were dwellings priced over $1 million.
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Mortgagee sales decline 36% on NSW central coast as property market consolidates ahead of brighter 2013

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The South Henley Beach house that drew the attention of the police earlier this month after real estate listing photos inadvertently showed alleged marijuana pot plants in the backyard, sold at weekend auction for $629,000.
The property in the western suburbs of Adelaide just a few blocks from the beach was marketed by Arthur Dimitrak from Harcourts Mile End who said it sold just above the reserve price.
The <a target="_blank" href="https://www.propertyobserver.com.au/auctions/adelaide-henley-beach-joint-to-go-to-auction-on-saturday-%E2%80%93-but-alleged-marijuana-pot-plants-nipped-in-the-bud/2012121358458">photographs of the alleged marijuana pla</a><a target="_blank" href="https://www.propertyobserver.com.au/auctions/adelaide-henley-beach-joint-to-go-to-auction-on-saturday-%E2%80%93-but-alleged-marijuana-pot-plants-nipped-in-the-bud/2012121358458">nts</a> prompted a surprise police inspection, seizure of the plants and a court date for one of the occupants.
There were eight registered bidders for the house, but only two bidders on the day. RP Data records show it last sold for $130,000 in 1993.
The two-bedroom brick house standing on a 936-square-metre block and is tenanted until February next year.
The new owner is likely to demolish the existing house and develop the site for townhouses.
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Investor snaps up Adelaide South Henley Beach “pot” house

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The South Henley Beach house that inadvertently featured a backyard photograph showing alleged <a href="https://www.propertyobserver.com.au/south-australia/pot-plants-in-real-estate-ads-bring-adelaide-police-to-the-open-for-inspection/2012121358447?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">potted marijuana plants </a>will go to forthcoming auction with expectations of around $550,000.
<img width="470" src="/images/stories/2012/12/potplant.jpg">
The two-bedroom brick house is just a few blocks away from beach in the sought-after western Adelaide suburb about 15 minutes from the CBD.
<img width="470" src="/images/stories/2012/12/military.jpg">
RP Data records show it last sold for $130,000 in 1993.
The original listing featured a photo of the backyard showing two pot plants with alleged flowering marijuana plants, prompting a surprise police inspection, seizure of the plants and a court date for one of the occupants.
The property is being marketed by Arthur Dimitrak from Harcourts Mile End, who told Property Observer he felt sorry for the accused young occupant.
“He should have put his plants in the shed.”
<img src="/images/stories/2012/12/military2.jpg">
Dimitrak expects that whoever buys it will knock it down and either builds a new house or sub-divide and put up townhouses.
“It’s an expensive suburb, close to cafes …very sought after,” he says.
Dimitrak says he has had a lot of interest in the property since its November 23 listing, but said interest is mainly in the land, with the house standing on a 936-square-metre block.
According to the listing marketing, there's $320 per week ongoing rental potential.
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Adelaide Henley Beach joint to go to auction – but alleged marijuana pot plants nipped in the bud

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Property owners and investors on Palm Beach on the Gold Coast are struggling to come to terms with the extent to which property prices have declined in the region since the GFC, according to a new report by PRDnationwide.
“Whilst many vendors acknowledge diminished capital values especially over recent years, and have priced their property accordingly, a large proportion of vendors remain under the illusion that their properties are undoubtedly worth more now than three to five years ago," says PRDnationwide analyst Robert Matta, author of the report.
“Whilst this may be the case for few properties in the area, this is definitely an extraordinary circumstance which has contributed to a lack of reasonable priced property on the market,” he says.
He also notes that buyers who purchased since 2007 are restricted by how much they can revise their pricing due to possible equity shortfalls.
“There is also evidence to suggest that unencumbered vendors have become increasingly reluctant to negotiate on the fire sale cash offers floating around in the market, which is exacerbating the level of well-priced stock in the market,” he says.
PRDnationwide’s investigation of the coastal area of Palm Beach, which includes the suburbs of <a href="/news">Palm Beach</a>, <a href="/news">Elanora</a>, <a href="/news">Currumbin</a>, <a href="/news">Currumbin Waters</a> and <a href="/news">Tugun</a> south of Surfers Paradise, reveals a marked  downwards shift in property values.
In June 2010 nearly two-thirds (65%) of properties that traded in the Palm Beach area sold for between $500,000 and $700,000, with the remainder trading between $400,000 and $500,000.
Figures for June 2012 show that only 45% of sales were in the $500,000 and $700,000, with the majority priced under $500,000
<img src="/images/stories/2012/12/prddec14.gif">
PRDnationwide recorded a small increase in residential sales in the Palm Beach area in the first half of 2012 with 220 sales negotiated, but says the market remained idle, “despite a marked correction in the median price over the past five years”.
For Palm Beach investors, the rental market has remained stagnant over the past three years, “with little to no movement in price growth across the house and unit markets”.
“Buying well is the key for investors to achieve a competitive rental yield in the marketplace with low rental price growth anticipated over the coming year,” says Matta.
According to Matta, active investors and owner-occupiers have become increasingly price-conscious, with the sub $350,000 price range accounting for 65% of the total sales recorded in the June 2012 period, in contrast to 35% recorded in the June 2010 period.
The unit market has been more resilient than the wider Gold Coast municipality, with a median unit price for June 2012 of $355,000.
Palm Beach rents range from $300 per week for a two-bedroom apartment to $490 per week for a four-bedroom house.
Elanora recorded the highest number of sales for the six month to the end of June with 67, up 20% one more than Palm Beach, a 20% fall on the same period in 2011.
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Marked decline in property values hard to accept by  for Palm Beach vendors on the Gold Coast: PRDnationwide

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Strata office space in the Melbourne CBD is being acquired by small businesses as their business premises for as little as $95,000, according to property services group DTZ.
DTZ strata agents Craig Hembrow and Danny Clark has sold 12 strata offices in the last few weeks totalling $2.7 million, with sales occurring in buildings on Little Collins Street, Collins Street and Queen Street.
Buyers include professional businesses, consultancies and small businesses in the medical, accounting, financial or business support services.
“These transactions have considerably tightened the market in properties in the sub 200 square metre range, to the point that some buyers are giving up due to frustration over a lack of available market stock” says Clark.
“This is partly attributable to a convergence of buyer and vendor expectations”.
Popular buildings for strata office purchases include 343 Little Collins Street on the Elizabeth Street corner, the Art Deco Manchester Unity building at 220 Collins Street on the Swanston Street corner and the modern 2 Queen Street building on the Flinders Street corner.
According to DTZ, limited supply is available in the prime East End of the CBD which is generally attractive to medical, corporate consulting, and financial services businesses.
Recent sales include a 32-square-metre office at 343 Collins Street, which sold for $95,000 – a rate of $2,981 per square metre rising up to $376,000 for a 63-square-metre strata office at 2 Queen Street.
Strata office sales 
<div style="text-align: left;" align="center">
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0">
<thead><tr>
<td style="text-align: left;" width="180">
Address
</td>
<td style="text-align: left;" width="85">
Sale Price
</td>
<td style="text-align: left;" width="85">
Area (sq.m.)
</td>
<td style="text-align: left;" width="57">
Rate per m2
</td>
<td style="text-align: left;" width="221">
Sales Transaction
</td>
</tr></thead>
<tbody>
<tr>
<td style="text-align: left;" width="180" valign="top">
204/220 Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$309,570
</td>
<td style="text-align: left;" width="85" valign="top">
60
</td>
<td style="text-align: left;" width="57" valign="top">
$5,159
</td>
<td style="text-align: left;" width="221" valign="top">
Investment returning 6.91% return
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
303/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$110,000
</td>
<td style="text-align: left;" width="85" valign="top">
35
</td>
<td style="text-align: left;" width="57" valign="top">
$3,142
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
408/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$125,000
</td>
<td style="text-align: left;" width="85" valign="top">
39
</td>
<td style="text-align: left;" width="57" valign="top">
$3,205
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
409/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$126,000
</td>
<td style="text-align: left;" width="85" valign="top">
39
</td>
<td style="text-align: left;" width="57" valign="top">
$3,230
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
702/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$95,400
</td>
<td style="text-align: left;" width="85" valign="top">
32
</td>
<td style="text-align: left;" width="57" valign="top">
$2,981
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
709/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$285,000
</td>
<td style="text-align: left;" width="85" valign="top">
82
</td>
<td style="text-align: left;" width="57" valign="top">
$3,476
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
207/2 Queen Street
</td>
<td style="text-align: left;" width="85" valign="top">
$376,000
</td>
<td style="text-align: left;" width="85" valign="top">
63
</td>
<td style="text-align: left;" width="57" valign="top">
$5,968
</td>
<td style="text-align: left;" width="221" valign="top">
Investment returning 7.71%
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
1111/227 Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$230,000
</td>
<td style="text-align: left;" width="85" valign="top">
46
</td>
<td style="text-align: left;" width="57" valign="top">
$5,000
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
208/430 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$255,000
</td>
<td style="text-align: left;" width="85" valign="top">
39
</td>
<td style="text-align: left;" width="57" valign="top">
$6,538
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
405/220 Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$275,000
</td>
<td style="text-align: left;" width="85" valign="top">
27
</td>
<td style="text-align: left;" width="57" valign="top">
$10,185
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
101/2 Queen Street
</td>
<td style="text-align: left;" width="85" valign="top">
$303,000
</td>
<td style="text-align: left;" width="85" valign="top">
49
</td>
<td style="text-align: left;" width="57" valign="top">
$6,183
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
102/2 Queen Street
</td>
<td style="text-align: left;" width="85" valign="top">
$217,000
</td>
<td style="text-align: left;" width="85" valign="top">
35
</td>
<td style="text-align: left;" width="57" valign="top">
$6,200
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
</tbody>
</table>
</div>
 Source: DTZ
In August, Savills research confirmed private investors were the most active purchaser category in the strata office market in the prior 12 months, having purchased 42 properties worth a total of more than $26 million.
The recent Urbis Melbourne strata office market report calculated that there are some 1,800 strata units within the Melbourne CBD, with an average sales turnover approaching 130 units per annum – this represents 7% per cent of total stock.
The report notes that prior to 2000, the market was characterised by the creation of strata units from the conversion of older, conventional office buildings, with few purpose built facilities.
However, since 2000, some 500 strata units have been supplied, all in purpose built facilities, with most in the Docklands precinct.
These include Aquavista at 401 Docklands Drive, Docklands (205 units, built 2007) and Site One at 757 Bourke Street, Docklands (53 office units, built 2007).
Strata developments currently under construction include Lifestyle Working Collins Street, at 838 Collins Street featuring 137 units and 35 Exhibition Street, featuring approximately 40 units, both of which are due for completion in 2013.
According to the Urbis report, yields for prime strata office suites are currently in the range of 6.5% to 7%, with secondary yields generally in the range of 7.0% to 8.0%, on net rents.
</body></html>

Small business snapping up Melbourne CBD strata offices for as little as $95,000: DTZ

<html><body>
Of the two key regional south-east Queensland property markets, the Sunshine Coast property market had a decidedly better year than the troubled Gold Coast market, according to Herron Todd White’s (HTW) year-in-review December report.
However, both remain distinctly buyers' markets, with opportunities for first-home buyers and investors (with a long-term view) to secure discounted purchases while the more expensive end of both markets remains under pressure.
Certainly there is much more upbeat tone to HTW's assessment of the Sunshine Coast than the Gold Coast.
“Well one thing is certain, 2012 has turned out to be much better than 2011. There seems to be an air of optimism around now with more and more people ‘doing things’,” is how HTW began its round-up of the Sunshine Coast market.
In comparison, HTW describes the Gold Coast as a “tough property market” with values having declined “across all property market subcategories with the prestige, unit and acreage markets hit the hardest”.
The Sunshine Coast property market was helped by the building of the $2.03 billion University Hospital at Kawana, with construction of the private hospital due for completion next year and with work now underway on the main hospital.
Another positive factor, according to HTW, was the changes in both the local and state governments earlier in the year, which helped improve confidence levels.
“The resultant effects are that we have seen a significant increase in activity.
“The main market where this has been felt has been the sub-$500,000 house market. Properties have been turning over more quickly, with some agents making noises about running out of stock.
“In this sector it doesn’t feel as if there is going to be a sudden spike in values, but certainly we expect that values will stabilise,” says HTW.
However, the Sunshine Coast resort investment unit market and prestige markets remain “quite tough”.
And while sales are being recorded and activity has improved, HTW says this is from sellers being prepared to meet the market, with buyers “smelling blood in the water and treating these properties harshly”.
 
<hr class="system-pagebreak">
 
In the case of the Gold Coast, HTW says mortgagee in possession (MIP) sales have “significantly impacted the property market, with properties selling in many cases at levels not seen since circa 2003 to 2004”.
As a result, the Gold Coast is still a strong buyer’s market, with most local and informed buyers being “very discerning and taking their time to buy wisely, for example, seeking out the most distressed auction sales”.
“This has caused values in some residential areas to fall more sharply than others as buyers shun areas with perceived issues overshadowed by the more desirable areas. Therefore, we have seen sales in some residential pockets fall very dramatically.”
HTW notes that parts of the Gold Coast like Nerang and Highland Park offer first-home buyers the opportunity to get into the market at below $300,000 as do older-style low rise units in the Surfers Paradise/Broadbeach locality and second-hand townhouse units in the Pacific Pines locality”.
Moving up the price ladder to the $500,000 to $1 million bracket, values have continued to fall, with HTW recording that multiple sales occurring in Isle of Capri in the mid-$600,000s – the “lowest prices we’ve seen for waterfront property in this locality for a few years”.
Apart from the construction of the light-railway impacting on values for nearby property owners, the bigger structural problems for <a target="_blank" href="/news">Surfers Paradise</a> and <a target="_blank" href="/news">Broadbeach </a>is an oversupply of high-rise units for sale with the marketing of the Hilton, Oracle and Soul products.
Head of property for The Oracle Berrick Wilson has a more optimistic view of the market forecasts the 2012-13 summer months will provide “an additional boost to an already rejuvenated luxury apartment market”.
Oracle managed 100 new sale settlements in the 12 months since its relaunch in December 2011.
“With only 10 apartments sold at The Oracle in the 12 months prior to December 2011, and more than 100 apartments sold since at an average price of approximately $900,000, it’s fair to say the market has bottomed and buyers are continuing to capitalise by snapping up luxury stock,” says Wilson.
HTW does have a brighter outlook for the Gold Coast reporting that many agents are clearing much of their dated stock, however values are not set to rise in the short term.
Gold Coast rents have remained strong despite values declining, but this could change, with “many property managers reporting increases in vacancy rates”.
HTW recommends investors look at the following areas on the Gold Coast: <a target="_blank" href="/news">Southport</a>, <a target="_blank" href="/news">Labrador </a>and <a target="_blank" href="/news">Biggera Waters</a>, <a target="_blank" href="/news">Paradise Point</a>, and <a target="_blank" href="/news">Parkwood </a>/<a target="_blank" href="/news">Molendinar</a>.
Looking ahead, the assessment is that the Gold Coast will remain a buyers’ market in 2013 with losses suffered by existing property owners representing “excellent longer term opportunity for those ‘early adopter’ investors who can position themselves against the storm”.
“We still need to be wary of the unknowns, being the macro and micro economic situations, the mining industry and rental markets. There is no indication of any immediate changes in property values and we are predicting stabilisation for 2013,” says HTW.
</body></html>

Sunshine Coast trumps Gold Coast in 2012 but both still buyers' markets: HTW

<html><body>
Pessimism about the job market is on the rise and could further curtail already cautious borrowers taking on more debt in 2013, forcing the RBA to cut interest rates even further, according to Westpac.
All the unemployment indicators from the December Westpac-Melbourne Institute survey of consumer sentiment point to a rise in the unemployment rate next year, with the likes of AMP Capital chief economist Shane Oliver tipping the unemployment rate to reach 6% in 2013.
Oliver is tipping the cash rate to fall to 2.5% in 2013 and says it could go even lower if sectors like housing, tourism and retail take longer to recover and take up the slack created by an expected slowdown in mining investment.
Employment is crucial to the housing market in both a practical sense – borrowers need income to pay off their mortgages – and in terms of feeling confident about taking on more debt to renovate, upgrade and in some cases, purchase an investment property.
However, despite the official unemployment rate falling from 5.4% to 5.2% and the RBA cutting the cash rate by 25 basis point to 3% in the week when the December consumer sentiment survey was carried out, job market expectations deteriorated.
<img src="/images/stories/2012/12/westpacdec14.gif">
As the graph below shows, survey respondents in full-time work (of which many would have mortgages or may be looking to buy) are more pessimistic about the jobs market than those unemployed, retired or not working.
<img src="/images/stories/2012/12/westpacdec141.gif">
Furthermore, as the graph below shows, sentiment about unemployment is similar across all household types – renters, mortgage holders and those who own their property outright.
<img src="/images/stories/2012/12/westpacdec142.gif">
Sentiment about the jobs market is weakest in the resource states of Queensland and WA due to expectations of a slowdown in mining-related projects and most bullish in NSW.
<img src="/images/stories/2012/12/westpacdec143.gif">
“Despite another rate cut and improving sentiment towards housing, consumers remain cautious and particularly concerned around the outlook for the economy and for employment,” says Westpac chief economist Bill Evans.
“The Reserve Bank has two more months to assess the impact of its interest rate moves before its next meeting (the RBA does not meet in January).
“Evidence to date is that low rates are not generating much traction with households. Hence there is likely to be a decision to further ease rates in February or March,” he says.
</body></html>

Households growing concern about job market point to further rate cuts: Westpac

<html><body>
Photos allegedly showing cannabis growing in two pot plants in the backyard of a Henley Beach South house were inadvertently included in a real estate ad, drawing the attention of the police.
<img width="470" src="/images/stories/2012/12/potplant.jpg">
The plants showed up in photos while the house was advertised for sale.
Police attended the house with a search warrant yesterday and subsequently seized the cannabis plants and reported the tenant, a 28-year-old man.
In an unrelated case also in Adelaide’s western suburbs police searched a house at Woodville allegedly locating 55 cannabis plants growing hydroponically in four rooms of the house.
A 40-year-old man from Woodville was arrested and charged with cultivating a commercial quantity of cannabis and possess proscribed equipment.
Both men will appear in the Port Adelaide Magistrates Court at a later date.
</body></html>

‘Pot’ plants in real estate ads bring Adelaide police to the open for inspection

<html><body>
Plans for the new Sydney International Convention, Exhibition and Entertainment Precinct (SICEEP) at Darling Harbour have drawn concerns from trade exhibitors due to its configuration.
<img src="/images/stories/2012/12/icc4.jpg">
While the proposed exhibition space will be 13,000 square metres bigger in the new convention centre, contiguous space will be smaller, with only 20,000 square metres on the ground floor as opposed to the current 27,000 square metres across one floor.
A second floor will offer 13,000 square metres of exhibition space with additional space on the outdoor event deck and in the convention centre.
The 20,000 square metres of contiguous space is significantly smaller than the 30,000 square metres of clearspan space available in the Melbourne Exhibition Centre – the largest contiguous space in the Southern Hemisphere.
Despite the concerns at the configuration of the new exhibition centre, Joyce DiMascio, general manager of the Exhibition &amp; Event Association of Australasia, says the industry is in the hands of very good operators in Lend Lease and Ogden.
“In initial discussions with Ogden, they have undertaken to ensure that in the detailed design our input is considered to maximise utilisation,” she said in comments to the Australian Financial Review.
<img src="/images/stories/2012/12/icc5.jpg">
Infrastructure NSW has also defended the design saying that stacked exhibition centres worked well in place like Hong Kong and Vancouver, adding that only five exhibitions a year require space of 25,000 square metres or more.
Such exhibitors would need to be convinced to have their expos over two levels or Sydney could lose them to Melbourne.
Development of the Darling Harbour convention centre has also come under fire from Philip Cox, the architect who designed the current exhibition centre and from another well-known architect Darrel Conybeare, who described Cox’s building as the best in Darling Harbour.
Construction of the new exhibition centre is due to begin in 2014 and be completed in 2016.
Goldman Sachs analyst Andrew MacFarlane said developing the $1 billion convention centre was an “important win” for Lend Lease “given major projects have been relatively rare in recent years” and will add $2 billion to its $9.3 billion of Australian construction revenue backlog as of June 2012.
Goldman Sachs expects Lend Lease’s share of equity in the public-private partnership will amount to around $100 million with developer acting as development and construction manager as well as project manager through Capella.
</body></html>

Lend Lease’s Darling Harbour exhibition space configurations questioned by exhibitors

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

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Larry Schlesinger

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