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ANZ Bank has appointed Glenn Maguire as its chief economist for Asia Pacific.
Glenn Maguire where he will be responsible for economic research in South and South-East Asia and the Pacific.
He has been acting in the role since May 2013 and has extensive Asian Economics and banking experience, having spent 16 years at Société Générale in roles including the head of Asian economic research based in Hong Kong. “It’s pleasing to be able to appoint one of Asia’s top economists to lead our team out of Singapore and I’m confident his insights will be highly valued by all our clients," said ANZ global chief economist Warren Hogan.
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ANZ appoints Glenn Maguire as new Asia Pacific chief economist

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James Packer's Crown group has received the amber light from the NSW state government to build its $1.2 billion 60 storey casino development at Barangaroo South knocking Echo Entertainment out of the battle for Sydney's second casino.
A review led by former Future Fund chairman David Murray recommended Crown's proposal over Echo.
NSW premier Barry O'Farrell said it was "not a licence to build but to proceed to stage three", where conditions and terms need to be negotiated.
The Hoover-shaped hotel and casino designed by British architects Wilkinson Eyre will feature 350 apartments and around 75 luxury penthouses plus restaurants, spa and swimming pools.
The hotel is due to be built by Lend Lease, employ around 2,000 people and generate around $400 million for the NSW economy.
It would break Echo Entertainment’s monopoly of the Sydney casino market.
Echo had submitted a proposal for a $1.1 billion transformation of The Star at Pyrmont into a massive integrated resort, featuring two new luxury hotels.
Kerry Packer was unsuccessful in a bid to be awarded Sydney's first casino licence  in 1994.
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Echo knocked out as James Packer wins amber light for Barangaroo South Casino

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The total number of private sector house approvals rose 1.5% in trend terms in May, according to the latest ABS building approvals data.
This contributed to the 1.0% increase in the total number of dwelling units approved.
On a seasonally-adjusted basis, private sector house approvals rose 2.5% to 8,113 dwellings to be up 11.6% for the year.
"The number of approvals to build new homes is currently above the decade average and actually 4% stronger than the 5-year average," notes CommSec economist Savanth Sebastian.
<img src="/images/stories/2013/larry_uploads/abs_buildign_approvals.jpg" width="256" height="266" alt="abs_buildign_approvals">
Source: ABS
Unit approvals fell 9.8% to 5,156 to be down 24.5% for the year.
Yesterday, the HIA earmarked a solid recovery in the residential building sector when it reported that new home sales ncreased by 1.6% in May, taking monthly sales back to their highest level in 18 months.
The ABS figures show that dwelling approvals increased in May in the Australian Capital Territory (4.1%), Tasmania (3.6%), Western Australia (2.7%), South Australia (1.8%), Victoria (1.2%) and New South Wales (0.8%) but decreased in the Northern Territory (-4.9%) and Queensland (-0.5%) in trend terms. In trend terms, approvals for private sector houses increased for the six consecutive month in May.
Of the states and territories, New South Wales (2.6%), Victoria (2.3%) and South Australia (2.2%) experienced the largest rises in private sector house approvals.  The trend value of total building approved rose 1.9% in May and has risen for 16 months. The value of residential building was flat while non-residential building rose 4.1%. This media release focuses on movements in the trend as seasonally adjusted month to month movements can be highly volatile and are not necessarily indicative of the underlying behaviour in approvals data.
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Private sector house approvals trend up 1.5% in May: ABS

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Yesterday, around lunchtime, the Australian dollar fell more than one cent to 90.6 cents after RBA governor Glenn Stevens let it slip that the decision to leave the cash rate on hold at 2.75% was a close-call.
The expectation among nearly all economists was that the decision to leave rates on hold was a relatively straightforward one - for once.
Instead Stevens said, as part of unscripted opening remarks at a Brisbane luncheon, that the RBA board had “deliberated for a very long time and then elected to sit with the cash rate unchanged”.
The official transcript on the RBA website has Stevens as saying:
“I don't propose to comment about yesterday's (July 2) decision in particular, or to send any particular messages about the next decision.”
Fairfax business and economics commentator Malcolm Maiden speculates that the “feverish market reaction” driven by a newsflash sent out by Bloomberg about Stevens' unscripted remarks reveals that overseas investors, who have invested without currency hedges, are very nervous about the dollar falling.
The unscripted comments made by Stevens could perhaps have been interpreted by overseas investors as meaning that it won’t take much for the RBA to cut the cash rate, which would send the Australian dollar falling even further.
But as Maiden points out, while the fall in the Australian dollar was triggered by “cash rate speculation” the very fact that it has fallen may work against the RBA needing to actually cut the cash rate when it next meets in August.
This link was clearly spelled out by HSBC chief economist Paul Bloxham at the end of May when he said  that the recent depreciation of the dollar has had the effect of adding to 0.1% to Australia’s GDP – “which is around the same as the estimated effect of a 25 basis point rate cut”.
So it is more than likely that Stevens, a clearly very prudent man, knew exactly what he was doing when he made his off the cuff remarks, that is:
Push down the dollar without a rate cut and leave further room for the RBA to move should global economic conditions deteriorate and force its hand.
A quick glance through the official transcript of the speech shows that Stevens made mention of the exchange rate on no less than 16 occasions.
A lower Australian dollar is vital to supporting the Australian economy’s transition from resource investment to non-mining sectors such as manufacturing, retail, tourism and real estate.
“It is no secret that I, for one, have been surprised that the foreign exchange market has taken as long as it has to reflect the fact that the terms of trade peaked some time ago – nearly two years ago, in fact," said Stevens.
“In the end, though, market-based exchange rates do eventually adjust – and usually in a less disruptive way than those that are maintained artificially.
“A flexible exchange rate is an important part of adjustment over all phases of the cycle and it remains a major advantage that we have one. If the economy ‘needs’ a lower exchange rate, it will probably get it,” Stevens said.
Yesterday, he appeared to give it more than just a gentle nudge in the right direction.
It has since emerged via the Reserve Bank's deputy governor Philip Lowe that governor Glenn Stevens was actually making a "light-hearted remark" when he quipped that the board had deliberated for a very long time on its interest rates decision.
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The Aussie dollar dive may have been part of Glenn Stevens' RBA script, not lower mortgage rates

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The number of Sydney properties listed for sale has fallen by almost a quarter in the space of a year with stock levels approaching four-year lows, according to new figures for June compiled by SQM Research. 
There were 23,707 properties listed for sale in Sydney in June, 14.6% less than in May (27,761) and 23.1% less than the more than 30,000 properties listed for sale the same time last year. 
All capital cities recorded expected declines in residential stock in line with the winter slowdown, but Sydney was the only capital city to record a double digit monthly decline and larger annual fall. 
A lack of listings could put further pressure on Sydney property prices given the impetus to buy due to low interest rates.
"We're not quite there yet in terms of stock on market, but we are approaching that period of late 2009, early 2010 when Sydney real estate prices were growing at  an annual rate of around 15%," SQM Research director Louis Christopher tells Property Observer.
"Vendors are now increasingly in control of the market and this will  put upward pressure on real estate prices.
In September last year, SQM Resarch forecast growth in Sydney house prices  in 2013 of between 5% to 9%.
"We are approaching the upper point of that range and 2014 could be a year when capital growth is even higher than that," says Christopher.
He attributes to the large drop in Sydney listings to not a lot of new listings coming to market as well as old stock now being absorbed because prices are rising to meet vendors' expectations.
According to the SQM Research Asking Price Index, asking prices for Sydney houses have risen 7.3% over the past 12 months to June 30 while asking prices for units are up 5.8%.
RP Data-Rismark records a 6.3% rise in Sydney house prices over the past 12 months.
BIS Shrapnel expects <a target="_blank" href="https://www.propertyobserver.com.au/residential/surging-sydney-to-lead-uneven-recovery-in-residential-property-market-over-next-three-years-bis-shrapnel/2013063062842">Sydney to be the strongest housing market </a>over the next three years with a 19% gain.
<img alt="SQM_research" height="170" width="470" src="/images/stories/2013/larry_uploads/SQM_research.jpg">
Source: SQM Research
Whilere there are less than 24,000 Sydney properties now listed for sale, Melbourne has nearly double the number of properties for sale, more than 46,000 properties for sale, while the much smaller Brisbane market also has more properties listed for sale than Sydney with just under 27,000. 
“I believe that overall, the national housing market still remains well supplied with current listings, however Sydney is turning out to be a clear exception,” says Christopher. 
“When you consider the long term chart, Sydney is approaching the 2009 lows and this fits with other measurements indicating a strengthening housing market for that capital city.” 
Behind Sydney, the next biggest monthly decline was Canberra (down 8.3%) while the biggest annual decline was Melbourne (down 8.7%) followed closely by Perth (8%). 
Nationally the level of residential property fell by 5.3% over June to a total of 358,882.
Year on year, residential listings are down 5.4%.
“Whilst the majority of capital city monthly decreases can be attributed to seasonal influences and the fact that we came through five weekends in May to four weekends during June, Sydney’s monthly decline of -14.6% in stock appears to have gone beyond these attributes, as we begin to witness stock levels for this capital city that match those seen in 2009,” says SQM Research in its analysis of the data.
“This being the case - combined with Sydney recording a -23.1% yearly decrease in stock, SQM Research believes that we may now be approaching a point where there is a shortage of residential sale listings in the Sydney Market.”
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Residential properties listed for sale in Sydney down 23.1% in a year adding further pressure to house prices: SQM

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Globe-trotting Australian economist Steve Keen has gone on Russian television to warn that first-home owner grants and other government housing schemes are a "help to sell" for vendors, create housing bubbles and make housing more unaffordable for new entrants.
"They drag people into the market who otherwise would not be able to get in," <a href="/news">he said on the Keiser Report on English language Russian news channel RT</a>.
“When the Australian government doubled and trebled the scheme (through the first-home owner boost which ran from October 2008 to December 2009) house prices went up 8% and 12% per annum.

“[That is] 12% more unaffordable. If you can’t control it becomes a poisoned chalice."
{qtube vid:=5dRdfEHMXjY}
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Housing grants a help to sell not a help to buy: Steve Keen

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Economist and property bear Steve Keen says housing grants are a “poisoned chalice” that inflate house prices leaving first-home buyers worse off, not better off.
<a target="_blank" href="https://www.propertyobserver.com.au/trends/housing-grants-a-help-to-sell-not-a-help-to-buy-steve-keen/2013070362962?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=realitytv">Speaking from Paris</a>, Keen said government housing schemes “drag people into the market who otherwise would not be able to get in" in an interview on the Keiser Report, a program on Russian English language news channel RT.
“What it does is increase the supply of buyers," said Keen.
“It’s a 'help to sell' not a 'help to buy' because those who are flogging their properties suddenly get a whole bunch of people with money in their pockets."
His comments were made in the wake of UK chancellor George Osborne’s heavily criticised ‘Help to Buy’ scheme, which provides state mortgage subsidies.
Keen said he agreed with the likes of the IMF and outgoing governor of the Bank of England, Mervyn King that Osborne's scheme is a bad idea.
Keen referred to the Australian experience of the government introducing first-home owner grants in an effort to bring more people into the housing market, which created housing bubbles each time such schemes were introduced, made housing more unaffordable and made buyers “worse off not better off”.
“When the Australian government doubled and trebled the scheme (through the first-home owner boost which ran from October 2008 to December 2009) house prices went up 8% and 12% per annum.
“[That is] 12% more unaffordable. If you can’t control it becomes a poisoned chalice."
Keen said governments sponsoring asset price bubbles to make themselves look like good economic managers was a “perennial theme” in Australia dating right back to when Bob Hawke came to power.
“One of the first schemes he introduced in the 1980s was a first home owners grant of a few thousand dollars, which started a little mini-bubble in housing
“After the 1987 stock market crash they did it again with a much larger amount of money that also started a huge bubble.
Prices rose 20% and 30% and then they fell 20% and 30% on the other side of it.
“In 2000 it was brought back and then doubled by John Howard in 2001. Eeach time they did it, it pumped up house prices even more.
“Housing grants have become part of furniture in Australia," he added.
By comparison, before the government began introducing these schemes, Keen says average house price increases were "one half of one percent" compared to consumer price increase over a year.
After the first scheme was introduced by Hawke, the average was 4% growth per year he said.
Keen also returned to his most controversial 2008 prediction about house prices falling 40%.
“House prices were falling when I made my call that they would fall 40% over 10 to 15 years.
“That’s when the government doubled and trebled the first-home owners scheme, which I renamed the first-home owners 'vendors' scheme.
“That restarted the bubble and they kept it going until mid-2010 when house prices started to fall again.”
“House prices fall much more slowly than the stock market. They don’t have the total crash.
“The biggest crash was in the US where house price did fall about 40% over four years.
“What I had in mind for Australia was the Japanese case of a slow bleed, where prices have fallen 70% over 20 years.”
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Housing grants a “poisoned chalice” that create bubbles and leave buyers worse off: Steve Keen

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Investors have shown a healthy appetite for liquor stores leased to Coles’ subsidiaries with four NSW retail outlets bringing in more than $15 million as part of a successful Burgess Rawson portfolio auction held in Sydney this week.
Prices ranged from $2.315 million for the Liquorland Belmont in Newcastle on a yield of 7.89% to $4.33 million for the Vintage Cellars Freshwater in Manly on a yield of 6.87%.
The two other liquor stores both sold in excess of $4 million.
First Choice Liquor in Naremburn sold for $4.3 million (8.03%) while Vintage Cellars in Cremorne sold for $4.2 million (6.86%).
Each of the stores return rental income in excess of $180,000 per annum.
The pubs were sold by auctioneer David Scholes of Auctionworks who says the retail property investment market is showing “great signs of confidence at the moment and should continue the trend for quality listings”.
Ahead of the auction Burgess Rawson agent Billy Holderhead said the liquor store market is receiving solid interest because private investors have confidence in the familiar brands that lease them.
“At the moment, you’ve got either Woolworths or Wesfarmers tenants. You get at least a 5-year lease term with solid tenants.
“If you’ve got a tenant you’re comfortable with and familiar with and read about on a daily basis, you feel more comfortable with that,” he said.
Other properties to sell under the hammer included to childcare centres in Morriset and Macquarie Fields, which sold for $1.925 million and $1.53 million respectively.
An Aldi supermarket in Dural was passed in on a bid of $3.625 million.
In total more than $28 million worth of commercial property changed hands at auction.
 
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 Investors turn on the taps as four Coles liquor stores ring up $15 million tab 

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Financial planners Dixon Advisory have raised $161 million for a new commercial property fund that will invest in small-to-medium-sized office, retail and industrial property.
The Australian Property Opportunities Fund closed oversubscribed with the firm, as responsible entity, raising more than $60 million above the initial maximum offer size from investors, many of whom would be its self-managed super fund clients.
With a consolidated gearing level of up to 50%, the fund will have around $300 million to invest in commercial property on Australia’s eastern seaboard.
Assets with attractive risk-adjusted income profile and with the potential for capital growth will be targeted.
It will not use the funds to invest in more risky new developments.
Dixon Advisory intends to invest the money in a diversified portfolio of assets over the next 12 to 24 months, taking advantage of historically low interest rates.
“With the spread between commercial property yields and cash rates rising to 10-year highs, we believe this is an attractive time for investors to generate stable rental income, and potentially longer-term capital gains, through an investment in commercial property,” said Alex MacLachlan, chairman of the fund’s responsible entity.
“The successful capital raising now puts the fund in an excellent position to engage with vendors of small-to-medium-sized assets that meet our investment criteria.”
Sydney-based corporate advisory business Fort Street Real Estate Capital will provide investment management and asset management services to the fund.
Dixon Advisory is also the manager of the ASX-listed US Masters Residential Property Fund, the first Australian listed entity with the primary strategy of investing in the US residential property market.
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Dixon Advisory launches first Australian property fund

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Australia needs to build more houses and apartments than it has done in the past as population growth picks up, interest rates remain low and dwellings remain more affordable, says RBA governor Glenn Stevens.
In a speech in Brisbane today, in which he forecast “sub-trend growth” in the near term and challenges in shifting the economy from mining to non-mining sectors including real estate, he highlighted that Australia remains a “lucky country” because, among other things, the GFC slowed down household borrowing and prevented them from becoming financially over-extended.
Stevens said dwelling investment has been “low for an unusually long period, with at least some households intent on reducing debt, thereby strengthening balance sheets”.
“Households have accumulated a good deal of cash as well over recent years,” he said in an address to the Economic Society of Australia luncheon.
“Meanwhile, population growth is quite solid and it has been picking up a bit of late.
“If anything, we will need to build more dwellings than we have been over recent years.
“Meanwhile, interest rates are low, dwellings are more ‘affordable’, and finance approvals for housing purchases have risen by 16% over the past year.
"So there are ‘fundamentals’ that favour a pick-up in these [non-mining] sectors.
Stevens said that no-one can pretend to be able to fine tune the ‘handover’ from mining to non-resources sectors “on cue, by just the right amount”
“We have, in fact, had a few handovers over the past five years – from private demand to public in 2009, then to mining investment subsequently.
“Now we are looking back to household dwelling spending, non-mining investment (and exports).
“Previous handovers have occurred, largely successfully. That doesn't guarantee the next one will, though it does mean that we shouldn't assume that it won't occur.
Overall though he painted a picture of a relatively sound Australian economy.
“At this point, we have unemployment at about 5.5%, inflation ‘in the 2s’, the banking system is strong and government finances overall sound.
“Growth is on the slow side, inflation is low.
“That combination means that we have low interest rates (the lowest for fifty years in fact).
“Significant structural change is occurring, which is always challenging. But set in context, the macroeconomic data over recent years show a pretty respectable set of outcomes." 
He also returned to a theme of a  well-received speech made in August last year called <a target="_blank" href="https://www.propertyobserver.com.au/economy/august-rate-cut-hopes-dim-further-following-upbeat-glenn-stevens-lucky-country-speech-commsec-anz/2012072455710">The Lucky Country.</a>
“It could equally be said that we were ‘lucky’ that the effects of the global economic downturn worked to help reduce inflation in Australia from its peak in 2008 of 5 per cent – which was way too high – to something acceptable.
“It could also be said that we were fortunate that the sub-prime crisis in the US emerged from early 2007, and not later. Although such lending was less prominent in Australia at that time, it was growing fast and would have become a much bigger vulnerability had it continued at that pace. The fact that things went wrong in the US when they did meant that what was a small problem here stayed small. 
“It could be added that we were lucky that the change in behaviour of households – slower borrowing, more saving – came when it did. For a start, had households continued as they were, they would have become more financially extended, and it is obvious now that that would have been risky. Moreover, this changed behaviour of households has helped us absorb the resources investment boom. 
“Of course the story is not yet finished. We have to negotiate the downward phase of the investment boom over the next few years, which appears likely to pose significant challenges. How will we meet them?"
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More new dwellings needed but we’re still “lucky”: Glenn Stevens

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]

Larry Schlesinger

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