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There were 20 CBD office sales above $100 million each recorded over the final quarter of the 2013 financial year, according to Knight Frank.
It was the fourth successive June quarter that sales of offices over $100 million have risen.
The biggest sale over the course of 2013 was Charter Hall forming a partnership with a local super fund and a Canadian pension fund to acquire Bankwest Place and the associated Raine Square shopping centre in the Perth CBD for $458 million.
<img alt="knight_frank" height="282" width="297" src="/images/stories/2013/larry_uploads/knight_frank.jpg">
Source: Knight Frank
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Major CBD office sales continue to surge: Chart of the week

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A Shanghai-based development company has acquired an office and warehouse building spanning from Bourke Street to Little Bourke Street with approval for a 42 level Hayball-designed apartment project comprising 563 apartments.
The part three level, part single level building has a red-brick façade on Bourke Street that is heritage protected.
The site measures 2,764 square metres and was owned by Australia Post, which currently uses it as a distribution centre.
A permit has recently been issued for the apartment project which would comprise to two towers of 42 and 32 stories as well as 722 square metres of commercial/retail on ground floor, 249 car parks and storage space for around 169 bikes.
It had previously been listed for sale in 1999.
The proposed development is close to the $1 billion Upper West Side four-tower development being built by the Hong Kong-listed Far East Consortium.
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Chinese buyer acquires Bourke Street development site for $22 million

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A local Melbourne investor has bought an office/warehouse at Oakleigh in Melbourne's south east for $550,000.
The tenanted premises 58 Regent Street, Oakleigh sold for above the reserve through Ray White Commercial Oakleigh’s Ryan Amler and George Kelepouris on behalf of a local investor. 
The current tenant is on a month to month lease returning $31,800 per annum plus GST plus outgoings - a yield of around 5.7%.
Amler said the marketing campaign for the building attracted more than 30 enquiries. 
“We had four registered bidders at the on-site auction and after some spirited bidding the property sold under the hammer for $550,000 - $75,000 above the reserve,” he said.
The stand-alone warehouse is situated on a land area of around 484 square metres and the total building area measures around 330 square metres. 
“The property featured a high clearance warehouse with a container height electric roller door,” he said. 
“There were six on-site car spaces and easy access to Oakleigh central.” 
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Private investor buys south east Melbourne warehouse for $550,000 at auction

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AFG recorded a 17% rise in mortgage sales in June compared to the same month last year. 
Australia’s largest mortgage broker sold 7,575 home loans worth $3.08 billion through its network of loan writers in June, well down on the 8,921 home loans sold worth $3.6 billion in May – a fall of 15%, some of which would be attributed to seasonality. 
However, sales are well up on June last year when AFG managed 6,691 sales worth $2.3 billion. 
Leading the pack was WA, with mortgage sales up 30% followed by Victoria (25.8%) and NSW (19.9%).  But Queensland mortgage sales for June were 2.7% lower than in June 2012, and South Australia figures were 10.3% lower. 
The patchiness is also reflected in average loan sizes. 
Last month these were $494,000 in NSW, $408,000 in WA, $388,000 in Victoria, $344,000 in Queensland and $322,000 in South Australia. 
First-home buyers remain on the sidelines comprising just 12.8% of the market compared with 15.6% in June 2012.
Home loans to property investors rose from 36.5% to 37.9% and to refinanciers from 34% to 36.6%.
Standard variable home loans (57.2%) are the most popular product followed by fixed-rate home loans (27.4%).
“The mortgage market is continuing to become more and more complex,” says Mark Hewitt, general manager of sales and operations at AFG. 
“We are seeing patchiness across the states as WA and NSW in particular grow strongly, while Queensland and South Australia are still soft. 
“First home buyers are particularly active in WA, but hardly feature in Queensland and NSW since grants [for existing homes] were cut. 
“Political uncertainly, concerns about China and the economy in general are giving buyers a lot to think about. 
“That said, 95% of people are employed and rates are at their lowest in 30 years.  We’re hoping that a gradual return of confidence over the next financial year will see a broader based recovery take place."
<a href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=dd7d4ab9e7-June_4_RBA&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-dd7d4ab9e7-" target="_blank">Enter your home loan needs here to compare the latest home loan rates.</a>
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AFG mortgage sales up 17% in June year-on-year amid “patchy” market

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The Reserve Bank has left the cash rate unchanged at 2.75% following its monetary policy meeting today.
It is the second month in a row that the RBA has left the cash rate unchanged, a move widely tipped by economists polled by Bloomberg last week.
The latest Bloomberg survey had 25 of 28 economists seeing no change at the July RBA meeting on Tuesday.
But 15 of the economists expect the August RBA meeting will cut the cash rate from 2.75% to 2.5%.
"The Reserve Bank is likely to be reasonably comfortable with the performance of the housing market; dwelling values are up 3% over the first half of the year and over the June quarter dwelling values rose by just 0.2% according to the RP Data – Rismark Indices," says RP Data national research director Tim Lawless.
"Another indicator that low mortgage rates are having their desired effect is that transaction numbers are rising; national home sales were almost 13% higher over the three months ending April 2013 compared with the same period a year ago. 
"This scenario of rising demand but contained value growth is likely to be exactly what the RBA are seeking from the national housing market.  There has also been an improvement in the number of dwelling approvals with the April data showing a 9% lift over the month and 27% lift over the year," Lawless says.
Ahead of today’s decision, HSBC Australia and New Zealand chief economist Paul Bloxham said the fall in the Australian dollar was doing “much of the RBA’s work”.
“From the RBA’s perspective the Australian dollar’s fall will be the key development affecting its policy view.
“General rules of thumb suggest that a 10% depreciation could add around 0.3 to 0.4 percentage points to the CPI each year, which all else equal, would lift the RBA’s inflation forecasts to around the middle of the target band by end-2013.
“The depreciation should also support Australia’s growth rebalancing act.”
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RBA leaves cash rate unchanged at 2.75% in July

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Despite record retail property transactions in 2012 and continued keen interest from both institutional and private investors, the sector is faces its greatest challenge since the post-GFC period, according to BIS Shrapnel. 
Profits are expected to fall and store vacancies to rise as retailers and landlords struggle against numerous structural headwinds including modest retail turnover growth, the continued growth of online shopping, continued high savings rates coupled with the lack of an economic boom, a peak in new retail commencements in 2013–14 and a substantial depreciation in the Australian dollar. 
Investors in strong shopping centres should expect solid, but not spectacular returns.
For those in less successful centres, returns will most likely weaken.
Yields may firm in the short term as investors continue to be attracted to the sector, but BIS Shrapnel says overseas investors are likely to be less aggressive when the Australian dollar is lower, especially if bond rates rise. 
A key concern is the devaluing of the Australian dollar, which fell 8% over the course of the 2013 financial year. 
“Based on our forecasts of a 23% depreciation against the Trade Weighted Index (the Australian dollar’s performance against the currencies of its biggest trading partners), we estimate that a retailer which imports 50% of product sold will see its profitability fall to zero if it is to continue to pay current rents,” says Maria Lee, senior project manager at BIS Shrapnel and author of a new report looking at retail property market prospects between now and 2023. 
“Clearly, this is not sustainable. This will impact their ability to pay rent, and vacancies could also be expected to rise.” 
Taking all factors into account, BIS Shrapnel forecasts shopping centre incomes to grow at an average pace of just 2% per annum over the next five years—failing to keep pace with CPI inflation. 
As the chart below shows, operating profit as a percentage sales is expected to fall over the next four years from around 7% currently to less than 5%. 
<img src="/images/stories/2013/larry_uploads/bis_shrapnel_forecasts.jpg" width="470" height="194" alt="bis_shrapnel_forecasts">
As a consequence retailers and shopping centre owners are going to have to work harder than ever to remain relevant and sustain growth.
 
“In our view, retail property faces its greatest challenges in decades—barring the immediate post-GFC period,” says Lee. 
The report estimates that the market share of Internet retailing could likely increase from 6% at present to 11% within five years. 
“What this means is that more than $3 out of every $10 of additional expenditure will go online,” says Lee. 
“Put another way, the turnover growth through shopping centres would be a full one percentage point higher without the growth of online shopping. That’s highly significant.” 
The impact of a growing online shopping channel is two-fold says Lee. 
Firstly, it takes market share from “traditional” bricks-and-mortar retailing and secondly, through the use by shoppers of price comparison websites or apps on mobile phones, retailer profit margins are impacted as consumers demand a price-match in order for them to buy there and then. 
“The weak prospects for income growth have clear implications for total returns to retail property,” says Lee. 
“Pre-GFC, even if income growth was weak, total returns were nonetheless solid thanks to the long term firming of yields. But that process has run its course and we don’t expect to get back to 2007 yields before the next boom—which is unlikely to be in this decade.” 
“Nonetheless, strong retail centres remain a good cashflow business with relatively little fluctuation in income returns. Retail property offers solid, if not spectacular, returns.”
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Retail property landlords facing “greatest challenge in decades” with retailing profits set to fall over next four years

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The Fairfield-Liverpool region in the heart of the outer western Sydney growth corridor has regained the unwanted title of most mortgage delinquent region in Australia, according to Fitch Ratings.
The Gold Coast East region which includes the coastal suburbs of Broadbeach, Surfers Paradise and Mermaid Beach, temporarily replaced Fairfield-Liverpool at the end-September 2012 for the first time in seven years, but has now dropped to third most delinquent region following a small improvement.
Between September 30 and March 31 the proportion of mortgage holders more than 30 days behind on their mortgage repayments in Fairfield-Liverpool increased from 1.82% to 2.37% - around one in 42 borrowers.
<img height="212" width="470" src="/images/stories/2013/larry_uploads/fitch_ratings_regions.jpg" alt="fitch_ratings_regions">
The Fitch Ratings report indicates a wider problem managing mortgage repayments in western Sydney with outer south west Sydney ranking fifth (delinquency rate of 2.25%), Blacktown ranking ninth (1.98%) and outer western Sydney ranking 10th (1.96%).
The Gold Coast East 30 plus days arrears improved by 15 basis points to 2.29% at end-March 2013, but 90+ days arrears were still high at 1.22% (versus 1.14% in September 2012).
It ranked as third most delinquent region in Australia behind the struggling Central Coast retiree region between Sydney and Newcastle.
The top 10 worst performing region list is dominated by outer Sydney and Gold Coast regions, with Hume City in Melbourne’s North – lower socio-economic location – ranking eighth.
Fitch notes that Blacktown has returned to the 10 worst-performing regions list by value as delinquencies increased by 43 basis points in the six months to 31 March 2013.
Fitch Ratings analyst James Zanesi tells Property Observer that many borrowers in the Fairfield-Liverpool region would be classified as on lower incomes with less of a  financial buffer to protect them from short term shocks such as unemployment.
He says more borrowers in this region fall behind on mortgage repayments due to Christmas spending, but then tend to cure their delinquency over the next few months.
He says lower income regions always perform worse than other regions, but the extent of the increase in the delinquency rate in Fairfield-Liverpoolwas unexpected.
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Greater Western Sydney replaces Gold Coast as most delinquent region: Fitch 

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Whale sightings and rash holiday apartment investments remain seemingly popular activities in the NSW coastal town of Nelson Bay.
The tourist and holiday home destination has maintained its unwanted crown of most delinquent post code in Australia, a title it has held since Fitch Ratings began compiling its mortgage delinquency by post code list in 2007.
Nelson Bay (post code 2315), within the local government area of Port Stephens in the Hunter region, has maintained a delinquency rate of 6.6% as of March 31, unchanged from six months ago.
This translates into around one in 15 mortgage holders being more than a month behind on mortgage repayments.
Second on the list and unmoved from six months ago is Montrose, a northern suburb of Hobart, with one in twenty (5%) borrowers 30 days or more behind on their mortgage repayments.
Suggesting perhaps a tentative recovery in the apartment-laden Surfers Paradise market, where a number of high-rise developments fell into receivership, the marquee Gold Coast suburb’s 30 days plus arrears rate improved from 4% to 3.4% from September 2012 to March 2013.
As a consequence its ranking fell from fourth on the list of worst performing postcodes by value as of September 2012 to 10th as of March.
<img height="367" width="470" src="/images/stories/2013/larry_uploads/mortgage_delinquencies.jpg" alt="mortgage_delinquencies">
Nelson Bay has a population of around 5,400 people according to census 2011 with 44.9% of the nearly 3,900 dwellings unoccupied on census night, July 19, during the middle of winter.
A high proportion of these unoccupied dwellings would have been seaside holiday apartments.
<img height="334" width="470" src="/images/stories/2013/larry_uploads/mortgage_delinquencies2.jpg" alt="mortgage_delinquencies2">
Sales histories on realestate.com.au indicate that many of the properties sold as mortgagee in possession in Nelson Bay in recent years have been holiday apartments.
A recent mortgagee auction was a <a href="https://www.realestate.com.au/property-unit-nsw-nelson+bay-112326523">two-bedroom unit Mantra Aqua Resort</a>, which sold through Rebecca Dean of PRDnationwide – Port Stephens.
RP Data records indicate it sold for $215,000 having last sold for $380,000 in April 2010 a compound annual growth rate of – 28.9%.
Another apartment in the same resort is listed for July 27 auction.
“Stagnation in the local housing market has increased the time required for foreclosed properties to sell, leading to an accumulation of arrears in the 90+ days bucket (4.71% at end-March 2013 versus 5.78% at end-September 2012),” notes Fitch in its report.
“There has been an increase of 1% in new delinquent borrowers despite the recent improvement in 90+ days arrears.”
Fitch Ratings James Zanesi analyst says some properties are more than 300 days in arrears with lenders struggling to sell them. He says a number are in the same building.
When the Fitch Ratings figures came out in August last year, local estate agents and mortgage brokers highlighted that most of the delinquent properties related to holiday home purchase.
Local agent Daniel O'Meara of O'Meara Property said that while the rate was high there were few cases where residents are losing their homes.
“The vast majority of owners of these properties are not owner-occupiers and rarely live locally. As these are not the family home, the mortgage will often be let slip once money becomes tight.
Local broker Ben Eick of Hunter Home Loans Solutions in Nelson Bay told Australian Broker Online that it was his understanding that the properties are bought basically from people coming up here on holiday, liking the area, seeing an apartment or unit that looks fantastic.
Eick said holidaymakers bought a slew of properties in 2005 and 2006 gambling on prices going up, but a weaker rental market made it harder for investors to rent the property out for most of the year.
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Nelson Bay retains most delinquent postcode crown, but Surfers Paradise drops down list: Fitch

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Ahead of today's RBA meeting, economist Stephen Koukoulas <a target="_blank" href="https://twitter.com/TheKouk">@TheKouk</a> says it is "almost certain" that the RBA will leave the cash rate on hold today at 2.75%.
"The Kouk" has also tweeted that mortgage rates and inflation are much lower since John Howard left office in 2007:
<a href="https://twitter.com/TheKouk" target="_blank"><img alt="kouk_tweet" height="83" width="470" src="/images/stories/2013/larry_uploads/kouk_tweet.jpg"></a>
He says it a "reasonably straightforward" decision for the RBA due to an "uptick in the interest rate sensitive sectors of the economy, in particular housing and consumer spending".
"On the down side, there is no doubt that mining investment is in the early stages of decline and this will be a drag on economic growth over the medium term. It is likely to be a key point that will see the Reserve retain a bias to cut interest rates, 'if circumstances permit,'" he writes in Business Spectator.
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Interest rates and inflation much lower since John Howard left office: Stephen Koukoulas Tweet of the Day

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Investing in an off-the-plan apartment is a popular option for property investors particularly in capital cities like Brisbane, Sydney and Melbourne where apartment developments are a dime a dozen.
Investing in a new apartment can be significantly cheaper than buying an existing house or apartment, plus you can take advantage of tax depreciation benefits. However, there are major potential pitfalls and stumbling blocks, which you should be aware of before you sign a contract and pay your deposit.
Here are eight to keep in mind:
<ol></ol>
<ul>
<li>Settlement period won’t be long enough</li>
</ul>
Uncertainty about when settlement will be required can be a major and costly headache for investors. Once registration of title has occurred, developer will usually require settlement to take place as soon as possible, which can be as early as just 14 days under many contracts of sale. This can be a wholly inadequate period, says Rob Balanda, a partner at Gold Coast based law firm MBA Lawyer. This may mean having to apply for an extension, which if granted can attract high penalty rates of up to 20%. He suggests asking for a more reasonable time for settlement of say 30 days from the registration of the title when signing the contract. “You will usually get it too because the developer is keen to make the sale to you then,” he says.
<ol start="2"></ol>
<ul>
<li>You may not be satisfied with the end product</li>
</ul>
<ol start="2"></ol>
When you are buying off the plan, you are purchasing something that has not yet been finished and relying on sketches, plans and artist impressions. The finished product may not match these projections. Carolyn Chudleigh, a partner at law firm Holding Redlich, says the best way to protect yourself from a nasty shock is to check every detail on the sale contract, particularly regarding the finishes. “Most disputes arise from a buyer not being happy with the end product. The best way to avoid this is to be aware of exactly what all of the finishes should be,” she says. Chudleigh recommends looking at the schedule of finishes for all parts of the property, including floor coverings, colour schemes and kitchen appliances. “Know everything about the interior, down to how many power points there will be in every room. All of this can be negotiated before exchange of contracts and should be included specifically in the contract if you want to be able to enforce performance against the vendor. If a contract is skinny on detail, there may be little room for complaints at the end of the day,” she says.
<ol start="3"></ol>
<ul>
<li>
You may need to find extra cash if valuation comes in lower at settlement </li>
</ul>
<ol start="3"></ol>
Lenders will only give conditional approval to finance an off-the-plan purchase, subject to a future valuation. When the unit is complete in 12 to 24 months time the lender will then get a valuer to value the unit. If the unit is valued at less than the purchase price (the market may have fallen in this time) the lender will finance a lesser percentage of the purchase price leaving you with the shortfall to make up. “ If you can’t find the short fall and can’t settle the purchase, then of course you will be in breach of your obligations under the Contract and the very least that will happen to you is that you will forfeit the deposit,” says Balanda. The developer could also sue you for any loss incurred from the re-sale of the unit.
<ol start="4"></ol>
<ul>
<li>Rental guarantees may be misleading</li>
</ul>
Rental guarantees offered by developers may seem tempting but they should be treated with a fair degree of suspicion. Investors should always do the numbers to see if they really stack up. Buyers’ agent Catherine Cashmore warns against buying into a development that is offering a rental guarantee because “it is always factored into the sales price, and once the guarantee expires, the unit’s yield will revert back to market forces”. Cashmore says current rental guarantees are in the order of 5% to 7%.If an investment has a gross return of 6% and the developer guarantees $300 a week rent that would put the purchase price at $260,000. But if the market rent is in fact $250 a week, the property is really worth $218,000. This would have you paying 19.2% over the market value. The developer only has to pay $5,200 in total over two years to guarantee the $300 a week rent and the company would pocket $42,000 – or $36,800 net – on the sale price.
<ol start="5"></ol>
<ul>
<li>You may be buying the wrong type of apartment for the area</li>
</ul>
<ol start="5"></ol>
Buying the wrong property type off the plan for an area can result in poor re-sell values and/or a struggle to find tenants, says property investor and blogger Cameron McEvoy. “You may find a tenant quickly, but they may not be willing to pay the desired rental rate, if the property is not their ‘first choice’ for that area.” He suggests three remedies for this: firstly, get to know your potential area and do this in several ways: use online tools to study the demographic breakdown of your chosen area and develop a ‘persona’ of who is most likely to be living there, secondly, take a walk in the area, buy a coffee at the local cafe, and people so you can learn about the inhabitants of a particular location and thirdly, look at recent sales on real estate sales websites to see what sells and talk to local estate agents.
<ol></ol>
<ul>
<li>The area becomes oversupplied with other off the plan developments</li>
</ul>
<ol></ol>
Scarcity creates value. If there are three or four other off-the-plan developments set to be completed in the next couple of years with similar features and targeted at the same demographic as your development, an oversupply situation could develop. You risk depreciation in value, struggling to find tenants or having to lower your rent to secure new tenants. “First up, understand that by buying off the plan you are doing the developer a big favour, says finance journalist and Channel 7 Sunrise host David Koch. “Developers are keen to start selling off the plan early seeking as many pre-commitments as possible because it will please their bank manager when they try and finance the development.” The key is to do your research and find out what other developments are planned for the area and what units they will have and their price points.
<ol></ol>
<ul>
<li>Fees and costs you have not factored in may reduce your return</li>
</ul>
<ol></ol>
Having factored in costs like mortgage fees, stamp duty, land taxes and legal fees, off the plan buyers may find there are other costs once they settle and rent out their apartment. “Quarterly strata fees and the body corporate structure should also be factored into the purchase, says 1300HomeLoan managing director John Kolenda. “Make sure you can afford to cover these fees and, of course, make sure you do a final inspection and to make sure any defects were fixed before settling as the developer is obliged to repair any defects,” he says. Make sure you have a comprehensive list of all the fees and costs you are likely to incur once the apartment is completed.
<ol></ol>
<ul>
<li>The developer may go bust or there may be delays</li>
</ul>
<ol></ol>
While there are laws to protect buyers if a developer goes bust  (a number of high profile large building groups have collapsed in recent times) or they take longer to complete the project then agreed to, you may have to go to court at your own cost initially to recoup your investment. “A developer going bust or producing a substandard product can drag on for years through the courts and, while the law is there to protect you, it’s costly and it will be at your own expense to fight initially – this is a sad, but very true, fact about our legal system,” warns James Buyers Advocates.
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Eight potential pitfalls to watch out for when you buy off-the-plan

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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