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Perth house prices are expecte to continue their "upward trajectory of growth", with median prices to be at record levels sooner rather than later in 2013, according the latest Australian Property Monitors (APM) housing market report.
APM records Perth house prices up 3.2% to $595,609 over the three months to April with unit prices up just 0.4% to $405,547.
Year-on-year Perth house prices are up 6.7% while the unit market has been largely flat, down 0.6%.
APM reports that first-home buyers remain active in the market motivated by the tight rental market and steeply rising rents. In addition the $7,000 first-home owner grant (FHOG) remains in place for both new and existing home purchases.
However, there are headwinds facing the market with APM warning of strains on the local economy emerging from the "record levels of new arrivals, particularly given the apparent topping out of the resources boom".
In addition, Perth’s unemployment rate rose to 5.4% percent over April - the highest monthly level recorded for three years.
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Perth house prices to hit record levels in 2013: APM

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Dwelling values are expected to rise strongly in June regaining most of the losses recorded over April and May.
For the first 27 days of June, dwelling values across the five city aggregate index are up 1.7%, according to the RP Data-Rismark Daily Index.
This takes values roughly back to where they were at the beginning of May and 1.4% higher since the start of the calendar year.
RP Data-Rismark recorded a 1.2% decline in dwelling values across eight capital cities in May and 0.5% down over April.
"The RP Data-Rismark Hedonic Index series is likely to retrace the decline in home values which was recorded over the months of April and May when the end of June figures are released on Monday,” says RP Data national research director Tim Lawless.
“The daily index has shown a consistent upwards trend over the month, with the main drivers being Perth and Sydney where values are likely to end the month up more than 2%.  
“The Hedonic Index movements have closely mirrored the changes in consumer sentiment, with the Westpac-Melbourne Institute survey of consumer sentiment showing a similar trend over the past three months; down in April and May followed by a further rise in June.”</body></html>

Property market to reclaim lost ground with 1.7% rise in June to date: RP Data

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Citi Research modelling that forecasts house prices to rise 3% between now and March next year before a "slight" 2% correction thereafter are "broadly" in line with the views of RP Data.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/australian-housing-bubble-risk-overblown-with-prices-to-peak-in-march-2014-citi/2013062562659">Citi Research analysts Paul Brennan and Josh Williamson expects</a> a slight drop in house prices from the second quarter of 2014 to be driven by the “powerful effect” of lower Chinese immigration, a weaker Chinese economy and a lower Australian dollar. 
RP Data expects a similar trajectory for dwelling values, but driven by wages growth over the medium term. 
“The direction of labour markets, particularly the level of jobs creation and unemployment will have a direct bearing on the level of value appreciation across the Australian housing market as will consumer confidence,” says RP Data national research director Tim Lawless. 
“We are likely to report a fairly flat June quarter when our hedonic indices are released on Monday next week after a solid rise in values over the month of June retraces the 1.7% decline we saw in the index reading over the months of April and May. 
“Perth and Sydney are certainly the stand out performers currently, however Brisbane is also a market that is likely to see some improvement in market conditions which have been relatively sedate up to now,” he says.
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Citi forecasts of 3% rise in house prices and then slight correction from March 2014 “reasonable”: RP Data's Tim Lawless

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Economist Saul Eslake says he is not particularly troubled about the risks of a 'housing bubble' re-forming in Australia following Citi Research, which drew a similar conclusion. 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/australian-housing-bubble-risk-overblown-with-prices-to-peak-in-march-2014-citi/2013062562659">The Citi Research report</a> downplayed the risks of a housing bubble forming and forecast house prices to rise 3% between now and March next year before a “slight” 2% correction driven by the “powerful effect” of lower Chinese immigration, a weaker Chinese economy and a lower Australian dollar. 
Eslake, chief economist at Bank of America Merrill Lynch (BAML) described the Citi Research as “really interesting, innovative and insightful” but remains circumspect about the impact of Chinese demand on Australian house prices. 
“While I was aware of various pieces of anecdotal evidence linking Chinese demand to movements in house prices, this is the first time I've seen any rigorous attempt to quantify it,” Eslake tells Property Observer. 
“In some ways it's hard to see a causal link between Chinese industrial production (IP) and Australian house prices; and lots of things in Australia are correlated with Chinese GDP growth these days (including Australian GDP growth and, inversely, the RBA cash rate), so there might be an element of 'double counting' here. But it's still a very interesting piece. 
“More broadly, I've not been particularly troubled about the risks of a 'housing bubble' re-forming in Australia.” 
Eslake says the present recovery in housing is weak by historical standards and is proportionately reliant on investors. 
“I think households, particularly those who already have some debt, will continue to prioritize paying debt down over taking out new debt, which will inhibit non-FHBs, while FHBs are likely to remain apprehensive about their employment prospects and hence wary about entering the market. 
“If there were signs of a 'bubble' developing because of low interest rates, the RBA in conjunction with APRA could use 'macro-prudential instruments' to reduce that risk. 
These instruments could include mandating lower maximum loan-to-value ratios and shorter mortgage terms by requiring banks to hold more capital against mortgages. 
“Canada has done both of these things and the recent New Zealand budget gave the Reserve Bank of New Zealand (RBNZ) power to do something similar if warranted.”
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Little chance of housing bubble building in Australia but China effect may be overstated: Saul Eslake

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Australian house prices are expected to rise a further 3% between now and March 2014 and then “fall slightly thereafter” by around 2% according to forecasts by Citi Research.
With RP Data calculating that house prices have risen just 2.9% since bottoming out in May last year, this would mean around a 6% gain in house prices following 200 basis points being cut from the cash rate since November 2011.
It would be by far the weakest recovery in house prices compared with previous interest-rate easing cycles.
<img alt="house_price_scenarios" height="364" width="470" src="/images/stories/2013/larry_uploads/house_price_scenarios.jpg">
Following rate cuts commencing in July 1996, house prices gained 13% over the following 18 months, they gained 30% following rate cuts commencing in February 2001, and lifted 11% following the big rate cuts that occurred from September 2008 onwards <a target="_blank" href="/news">noted AMP Capital Investors chief economist Shane Oliver in May.</a>
The primary drivers of a correction after March 2014 is a slowdown in the Chinese economy and less Chinese migration into Australia, both of which have been identified as having a strong correlation – albeit with around a three year lag time – with Australian house price movements.
<img alt="chinese_and_house_prices" height="334" width="470" src="/images/stories/2013/larry_uploads/chinese_and_house_prices.jpg">
This forecasts assumes that interest rates remain unchanged over this period and is calculated using a complex forecast model that factors in year-on-year changes in nominal house price, Chinese immigration, variable interest rates, Chinese industrial production, changes in the real trade weighted index, the non-FHBs average loan and consumer confidence.
“Our baseline model shows the nominal house price will continue to grow until March 2014,” say Citi Research analysts Paul Brennan and Josh Williamson.
“The initial house price increase is the result of sustained low interest rates which in turn causes increased borrowing.
“However, the downward pressures created by a slowdown of the Chinese economy, lesser appetite for capital inflows as reflected in a lower Australian dollar and reduced Chinese immigration will eventually overtake the upward momentum from positive domestic factors, causing prices to fall slightly.”
In the short term, the main driver for the Australian housing market will be the low interest rate, which is expected to remain at low levels for "the foreseeable future".
“We maintain our view that the official cash rate will remain at 2.75% until the second quarter of 2014," say Brennan and Williamson.
“This implies that the variable lending rate will also stay at current levels over the same period, easing households’ (particularly non-first home buyers’) concerns over mortgage pressures and consequently stimulating the demand for housing.
“We also assume consumer confidence rises gradually later this year.
“We have allowed for the non-FHB loan size to grow at higher than the historical average rates, which we think is reasonable in response to the record-low cash rate.
“The auction clearance rates in Sydney and Melbourne have been hitting the 70% to 80% mark for the first 5 months of 2013, coinciding with the RBA cutting rates to lows of 3% in December 2012 and again to 2.75% in April this year.
However, the lag factor of lower Chinese immigration growth since 2011-12 will add further downward pressures on house prices.
In addition, Citi's Chinese economists are of the view that "Chinese industrial production (IP) growth will moderate to below 10% over our forecast period, a significant reduction from the double digit growth rates seen not too long ago".
“The falling Australian dollar against major trading currencies, particularly the US dollar also points to weakening offshore investor interest in the form of reduced capital inflow appetite.
“We are of the view that the trade weighted index (TWI) - an average of the Australian dollar exchange rate compared with its most important trading partners - will continue to fall over our forecast horizon, suppressing house price growth.
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House prices to rise a further 3% to March 2014 and then fall around 2% under China effect: Citi Research

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Riverpoint, the six-bedroom Isle of Capri mansion that sold through former Ray White Broadbeach prestige selling agent Michael Kollosche for $10 million in September 2010 has been sold ahead of a scheduled July 9 auction for an undisclosed, but likely significantly lower price.
Its most recent price indication came when $3.9 million was offered at its recent May 30 auction which was rejected by Suncorp, the mortgagee-in-possession, who ordered the forthcoming auction.
The house is currently at the centre of a Brisbane Supreme Court legal dispute relating to $2 million deposit paid as an option deal on the 1-3 La Scala Court house in September 2010, with the buyer being former bankrupt call-centre operator Steve Wooldridge’s One-Eleven (Qld) business entity acting on behalf of the Wooldridge Discretionary Trust.
Wooldridge is seeking a return of the $2.04 million deposit claiming he was misled by owners Peter and Kim McQueen and Michael Kollosche, the Gold Coast Bulletin reported.
Separately, Kollosche, solicitor Damien Ingwersen and his firm, and Galacoast, the company that previously operated Ray White Broadbeach is being sued for $17.5 million by Coast real estate agent Rod Lambert, the whistleblower who has alleged price-fixing scams on Mermaid Beach. The case involves the sale of a prime development site on Albatross Avenue at Mermaid Beach to Lambert and his wife in 2007 for $10.6 million.
Both the May and July auctions of Riverpoint were being marketed by Michael Willems from Ray White Prestige Gold Coast - Surfers Paradise.
It is described as being “immersed in a landscape of tropical gardens” though parties involved in the legal dispute may take issue with the view that “Riverpoint is a home where every day is a day in paradise”.
It has six ensuite bedrooms with views down Nerang River as well as a separate guest suite and study in separate private pavilions with wood elements featuring recycled and reclaimed ironbark timber from a Newcastle wharf.
It has 90 metres of direct rver frontage, a 10 car basement parking, a theatre, rumpus, bar, cool room, gym, tennis court, boat mooring and private beach and sits on a 2,600 square metre block.
It was built by the McQueens after they acquired two adjoining properties for $2.2 million in 2002.
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Disputed Riverpoint mansion on Isle of Capri sells ahead of July 9 auction

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Kevin Rudd’s first-home buyer housing initiative – the first-home saver account (FHSA) incentive – has topped 40,000 savings accounts with a surge in new accounts over the first three months of the year.
In total $416.8 million is held in 40,200 accounts equating to average savings per account of around $10,300.
The scheme, which was slow to gain traction when launched is still no where near the planned 750,000 savings accounts the government hoped would be opened by 2012.
There were 1,200 new savings accounts opened over the first three months of the year, more than double the 500 opened in the final quarter of 2012, according to APRA figures.
First home saver accounts
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Source: APRA
The scheme aims to help first-time buyers save for a deposit for their first homes. 
Under the FHSA, the government contributes 17% on the first $5,500 of individual contributions made each year. Account holders are required to keep savings in the FHSA for four financial years before they can use the funds to buy a home.
The government amended the scheme last May to allow savings in an account to be paid into an approved mortgage at the end of the minimum four-year qualifying period, if they saver bought a home earlier, rather than require that the money be paid into a superannuation account.
However, should a saver decide not to buy a home (for example they may decide to head overseas), the money must still be transferred into the saver's super fund and can only be accessed when they retire.
<a href="/news">In February last year </a>Property Observer noted the scheme was gaining traction among first-home buyers, despite the abandonment of the scheme by the Commonwealth and ANZ banks.
According to APRA, the savings accounts are offered through 17 institutions the bulk of which are credit unions and building societies, but also the Commonwealth Bank and AMP.
ANZ pulled out of the scheme in October last year.
A spokesperson for the Commonwealth Bank said it was no longer offering new accounts.
The main features of these accounts are:
<ul>
<li>The interest you earn on the account is only taxed at a rate of 15%.</li>
<li>You have to save at least $1,000 each year over at least 4 financial years before you can withdraw the money. These 4 years do not need to be consecutive.</li>
<li>The maximum account balance is capped at $90,000 but this cap will be indexed in future years. After your savings reach this level, only interest and earnings can be added to the balance.</li>
<li>The money has to be used for your first home. If it is not, it is added to your super and you can't access it until you are retired or can meet another <a target="_blank" title="condition of release" href="https://www.moneysmart.gov.au/glossary/c/condition-of-release">condition of release</a>.</li>
<li>If you buy your first home before the 4 year period is up, you can withdraw the money in your account at the end of the 4 year period to put towards your mortgage. You will not be able to make any more deposits once you have built or bought a property.</li>
</ul>
Source: ASIC
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Kevin Rudd’s first-home saver account scheme gathers pace with $417 million set aside for future home purchases

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A liquor store in the Tasmanian north west coast rural town of Wynyard has sold for $2.105 million soon after being passed in as part of a Burgess Rawson portfolio auction.
The Woolworth’s leased BWS branded store was the only non-Victorian commercial property to be auctioned <a target="_blank" href="https://www.propertyobserver.com.au/retail/geelong-water-facing-cafes-sell-on-strong-yields-at-auction/2013062662731?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">among 25 retail properties</a> spread across Melbourne, Sunbury and Geelong.
Woolworths pays net rent of $178,888 per annum equating to a yield of around 8.5%.
The 500 square metre liquor store on a 1,983 square metre site with a drive-thru and two street frontages was acquired by Woolworths in December 2011, modernised and rebranded as a BWS store in 2012.
Woolworths has a 10 year lease on the 1950s-built property with renewal options to 2041.
It includes an agreement for turnover rent of three cents for every dollar in gross sales generated by Woolworths.
According to auctioneer David Scholes from Auctionworks, turnover is up 20% since Woolworths took over the lease and rebranded the store as BWS.
The long-standing liquor business adjoins the Wynyard Hotel.
It last sold for $1.6 million in June 2007, according to RP Data, equating to an annual capital gain of 4.68% per year.
Bidding started at $2 million with two bidders competing.
It passed in on a vendor’s bid of $2.2 million.
The property was marketed ahead of its auction by David Webster of Knight Frank Tasmania along with Shaun Venables and Billy Holderhead.
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Tasmanian liquor store leased to Woolworths sells on 8.5% yield after failing to attract a buyer under the hammer

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Commercial property investors have shrugged off concerns about the Geelong economy and job market with two cafes close to the waterfront snapped up by investors on attractive yields at a Burgess Rawson portfolio auction today.
The Beside the Point Café below a seven story residential development at 100 Western Beach Road sold for $462,000.
The café, which adjoins Deakin University and according to auctioneer David Scholes from Auctionworks, benefits from “students nipping out for a coffee” brings in annual net rent of $35,000 equating to a strong yield of around 7.6%.
Bidding started at $400,000 and quickly rose to $450,000 before two bidders competed with $1,000 increases.
The second property to sell was the Steakhouse and Mila Café also at 100 Western Beach Road, which sold for $1.365 million. It brings in net annual rent of $85,000 equating to a yield of around 6.2%.
Both premises were marketed by Wayne Thompson and Andrew Lewis from Colliers International and Raoul Holderhead and Shaun Venables of Burgess Rawson.
The sales suggest investors have not been spooked by the <a target="_blank" href="https://www.propertyobserver.com.au/victoria/target-jobs-uncertainty-throws-spotlight-back-on-geelong-property-market-targetaus/2013060662031">recent spate of job closures</a> announced by Target and Ford with possible further loss of jobs from possible closures of the Shell Refinery and Alcoa's Point Henry aluminium smelter.
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Geelong seaside cafes sell on strong yields at auction

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Two Melbourne suburban Salvos Stores have sold at auction today as part of a successful Burgess Rawson portfolio auction with 20 out of 25 properties changing hands.
In a packed room at Crown casino, bidders wore their poker faces but generally showed healthy appetite for retail strip premises tied to secure tenants on long leases.
The 407 square metre Bayswater Salvos Store at 716 Mountain Highway sold under the hammer for $1.465 million.
Bidding started at $1 million but quickly rose as a number of bidders competed vigorously for the asset.
Encouraging them to bid, auctioneer David Scholes from Auctionworks said Salvos were now “bona fide retailers” with more than 300 stores across Australia selling “recycled, quality stock”.
The Bayswater store brings in annual net rent of $80,730 equating to a yield of around 5.5%.
The store is leased by Salvos Stores, the retail arm of the Salvation Army, on a five year lease commencing in April 2012 with three renewal options of five years to 2032.
A second 470 square metre Salvos Store on Emerald Road in Beaconsfield in Melbourne's south east, sold for $1.45 million. The store brings in net rent of $98,000 representing a yield of around 6.7%.
Bidding started at $1.2 million. The store is on a renewed lease to 2020 with a further five year renewal option.
The Bayswater store was marketed by Shaun Venables and Jamie Perlinger from Burgess Rawson and Fred Nucara and Brendan Goss of Bellet TBM Commercial.
The Beaconsfield store was marketed by Sam Newton and Jamie Perlinger from Burgess Rawson.
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The top price achieved at the auction was for a KFC in Carrum downs currently undergoing a $350,000 refurbishment, which sold to a Springvale family for $3.82 million.
Other notable sales included a 7-Eleven in Hawthorn which sold for $2 million (5.9%) a new Foodworks in Pascoe Vale which sold for $1.015 million (yield of 5.91%), a corner retail property at 565-567 Church Street in Richmond which sold for $2.05 million (5.05% yield) and a Nando's restaurant in Ferntree Gully, which sold for $830,000, a yield of 6.5%.
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Investors find ‘salvation’ under the hammer on Melbourne retail strips

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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