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Australia’s largest building materials provider, Boral, is reportedly seeking to move its head office out of the Sydney CBD to cheaper and smaller office space in either Chatswood or North Ryde.
Boral currently leases floors 38 and 39 in a 43 storey Bridge Street building but is already sub-leasing half of the 2,500 square metre space, reported The Australian.
It follows Boral cutting 11,000 jobs last year as the construction sector continues to contract.
Australia’s construction industry <a target="_blank" href="https://www.propertyobserver.com.au/residential/detached-housing-construction-sector-sinks-into-steepest-decline-in-eight-months-aig/hia-index/2013060762047">notched up three years (36 months)</a> of continuous contraction in May, according to the most recent Australian Industry Group/HIA Australian Performance of Construction Index (Australian PCI).
Earlier plans were for the company to relocate from 50 Bridge Street to 1 O’Connell Street, but these plans were cancelled after chief executive Mike Kane decided the company did not need to be in the CBD.
AMP Capital and law firm Baker &amp; McKenzie are the anchor tenants in the Bridge Street tower, which is jointly owned by the Australian Core Property Portfolio (ACPP) and the AMP Capital Wholesale Office Fund (AWOF).
CBRE recently reported that Sydney’s office vacancy rate (currently around 6.5%) could <a target="_blank" href="/news">rise due to the amount of office space being sub-leased.</a>
It reported that the amount of sublease space available in Sydney's CBD reached 73,872 square metres in April, the highest in two-and-a-half years, as financial services firms downsized their operations.
'Consolidation' or 'contraction' were the primary reasons for subleasing space with finance and insurance firms accounting for nearly 40,000 square metres of available sublease space followed by property and business services (around 10,000 square metres) and government tenants (10,000 square metres)
More than half the sublease space available (52%), is situated in the city core.
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lschlesinger-FZcF9M3vE6

Boral to ditch Sydney CBD for cheaper suburban office digs: report

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High-yielding retail property investments in Melbourne under $1 million offering attractive tax depreciation benefits remain possible.
A private investor has acquired the ground floor health spa premises of the recently completed Luna Apartments developed in St Kilda.
The 150-square-metre Endota Spa premises at 173-177 Barkly Street were acquired for $955,000 in a deal negotiated by Andrew Ryan and Jeremy Gruzewski of Colliers International.
The sale price equates to a yield of 6.6%.
Endota Spa has a seven year lease over the premises, which commenced in October last year with two further options of seven years.
It is one of five retail offerings in the development.
“This property ticked the boxes of, strong tenancy covenant, long term lease with options, inbuilt rental growth and depreciation benefits,” says Ryan.
Endota Spa was founded in 2000 and since expanded nationally with health spas in every state and territory.
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St Kilda Endota spa premises sells to private investor on 6.6% yield with tax depreciation benefits

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St.George Bank takes on average 15.5 days to pass on RBA cash rate cuts while taking just four days to raise rates, new research by Credit Suisse has found.
NAB and Westpac are the most prompt at passing on rate cuts – taking just eight days.
The figures are based on responsiveness of lenders to changes in the RBA cash rate for interest rate decisions dating from 2008 to 2013.
On average, Credit Suisse found that lenders are more than twice as quick to pass on a rate increase than a rate decrease.
They take three to five days on average to respond to a rate increase with the Commonwealth Bank being the fastest at 3.7 days and NAB’s Homeside being the slowest at 5.3 days.
In contrast, they take nine to 11 days to pass on a rate decrease.
ANZ takes the longest of the big four banks to pass on rate cuts - at just over 10 days, but also the longest on raising its mortgage rates following a cash rate rise. This result is skewed by the bank’s policy since January 2012 of making ‘independent ‘interest rate announcements on the second Friday of every month with a gap of 10 days or more between RBA announcements and ANZ decisions in some months.
 <img alt="credit_suisse_report" height="293" width="470" src="/images/stories/2013/credit_suisse_report.jpg">Credit Suisse analysts Jarrod Martin and James Ellis say delaying a rate cut pass-through “incrementally increases net interest income in the relevant operating period”.
By delaying passing on rate cuts the big four banks, which have around 85% of the mortgage market, earn around $12 million a day from borrowers who have variable loans, Canberra-based think tank The Australian Institute calculated last year.
The latest data suggests big banks are taking less time to pass on cash rate increases while still taking as long to cut their mortgage rates when the cash rate falls.
<a href="/news">In October last year</a> the Economic Record, published the Economic Society of Australia reported that the major banks take 6.8 days to lift mortgage rates when the RBA lifts the cash rate and 10.6 days to pass on rate cuts.
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St.George the slowest at passing on RBA rate cuts: Credit Suisse report

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Sydney-based hoteliers Peter and Jan McGrath have listed their two Fiji tourist resorts Sonaisali and Tadrai with expectations of between $17 and $22.7 million ($30-$40m Fijian dollars) for both.
The McGraths have owned Sonaisali for 20 years and developed Tadrai 18 months ago.
Sonaisali is a 50.5 hectare private island acquired by the McGraths in the early 1990s after it was sold as a mortgagee in possession by ANZ Bank.
It had been owned by a Melbourne-based syndicate of investors called Naisali Investments Pty Ltd, with the major shareholders being famed shark expert Ian Taylor, who advised Steven Spielberg on the making of 'Jaws' and his wife Valerie.
At the time it was leased to the syndicate on a 99-year lease, which started in 1989, from Fiji’s Native Land Trust Board with rent starting from $10,000 a year for the first five years, switching to 3% of gross receipts from July 1994.
Sonaisali is on Naisali Island, 300 metres off Fiji’s main island of Viti Levu and 20 minutes’ drive from Nadi International Airport.
It features 123 rooms and bures (Fijian for wood-and-straw huts) with ocean views as well as a poolside restaurant, conferencing and retail facilities. It also has its own dive business, a small marina and a passenger ferry providing 24/7 access to the mainland.
“Having developed and operated the resort for two decades, the owners have decided the time is right to sell the property and pass it on to a new owner who can take advantage of the unprecedented trading conditions at play in Fiji,” said CBRE Hotels regional hotels director Robb Cross, who is marketing both resorts alongside Dean Humphries, national director of hotels at Colliers International.
Tadrai Island, completed in 2011, is a five-star resort on a 27.6 hectare parcel of coastal land with three beaches, and planning permission granted for a second resort of up to 331 rooms on the site - the last remaining parcel of land in the Mamanucas that is available for future development.
It is 15 minutes by air from Nadi International Airport or 30 minutes by water taxi from Denarau Marina.
It is an all-inclusive, adults-only retreat with just five luxury beachfront villas, a restaurant, infinity pool and health spa. Each 100 square metre villa has its own private plunge pool.
Room rates are $3,000 per night.
The two resorts are being marketed for sale by CBRE Hotels, Colliers International Hotels, and The Professionals West Realty (Fiji) through an international expressions of interest campaign closing on August 1 2013.
The Resorts are for sale in-one-line or individually.
“Both properties are available with vacant possession, giving buyers the opportunity to partner with regional or international operators under an established brand,” says Humphries.
Both resorts are located on large tracts of long term leasehold land (the most common form of land tenure in Fiji) and come with significant facilities, infrastructure and expansion/development opportunities.
Interest is expected to come from investors and hotel and resort developers.
There listing comes as visitor arrivals in Fiji have trended upwards since 2010.
“Despite a challenging global economic backdrop in recent years, visitor numbers to Fiji increased by 25% from 2009 to 2011, and are expected to reach 750,000 in 2013,” says Humphries quoting Pacific Asia Travel Association (PATA) figures.
Particularly strong growth has come from Australia, which remains Fiji’s key source of tourists, accounting for half of all visitors, he says.
“With this growth in visitor numbers, hotels and resorts are enjoying excellent trading conditions. Fiji has been the star performer in the wider Asia Pacific region over the past three years, recording exceptional growth in occupancy and room rates.”
"Hotels in Fiji have recorded an exponential increase in RevPAR (revenue per available room) since 2009," says Humphries.
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Sydney hoteliers list luxury Fijian island resorts with combined $22.7 million price tag

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A former Bankstown-based mortgage broker has pleaded guilty to 10 charges of providing false loan applications to lenders over a six-month period to secure approvals for home loans totalling almost $3.8 million. Moustafa Dandachli, also known as Muzi Dandachli, 31, of Georges Hall, supplied the applications to two banks between July 2011 to January 2012. The applications, for 10 people, included loans ranging from $196,000 to $640,000. Documents included employment history, tax returns and bank statements.
He was authorised to provide credit services to consumers from 23 December 2010 until 27 February 2012, when his employer terminated his authorisation.
In August 2012 he was expelled as a member of the Mortgage and Finance Association of Australia (MFAA)  after its tribunal found  he "had engaged in acts of a fraudulent or dishonest nature by submitting  mortgage applications to lenders which included supporting documentation in the form of bank statements, he either fraudulently created or knew to be false at the time of their submission to the lender".
He was previously suspended by the industry body in July 2012 pending further investigations.
Dandachli was charged by ASIC under section 33 of the National Consumer Credit Protection Act 2009  whilst he was engaging in credit activity on behalf of his employer.
Section 33 makes it an offence for a person engaging in credit activities to give false or misleading information or documents to another person where that person knows, or is reckless as to whether, such information or documents are false or misleading.
The main purpose of this provision is to make it an offence for a person to forward an application for a credit contract or a lease that is false or misleading. Dandachli appeared before Sydney’s Downing Centre Local Court and admitted to providing the documents knowing they were false or misleading. He faces a maximum penalty of two years imprisonment, a fine of up to $11,000 or both, for each charge. He was granted conditional bail, was committed to the Sydney District Court for mention on 28 June 2013. He will be sentenced at a later date. The Commonwealth Director of Public Prosecutions is prosecuting this matter.
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Former Bankstown mortgage broker pleads guilty to submitting false loan applications worth $3.8 million

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The number of residential property rental vacancies increased again during the month of May, rising by 0.1 percentage points to 2.1% and coming to a total of 59,670 nationwide, the latest SQM Research figures show.
It was the fourth straight month that the vacancy rate has eased, according to SQM Research calculations.
The majority of capital cities either experienced modest rises, or remained the same during May, with Darwin being the only city to experience a decline – falling from 1.1% to 1.0% month on month.
Melbourne has the highest vacancy rate - 2.7% - of all the major capital cities, but was unchanged over May with 11,806 vacancies. 
Perth has the tightest vacancy rate of the major capital cities, though it eased slightly from 1.2% to 1.3%.
Click to enlarge
<a href="/images/stories/2013/06/sqmjune19one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/06/sqmjune19onethumb.gif"></a>
Given that a vacancy rate of 3% indicates a balanced market between landlords and renters, Perth remains in a severe rental crisis.
Looking nationally, SQM Research managing director Louis Christopher said the May result "reflects a rental market that is continuing to loosen, albeit gradually".
"However, SQM Research stands by our original prediction that until there is a mass exodus of renters prompted by absorption of stock from the sales side of the property market, we will not see massive increases in vacancy rates," he says.
Christopher says the rental market is starting to provide "some choices for tenants".
"Vacancies have increased four straight months now. This is also showing up on our weekly rentals index where cities such as Canberra and Perth have recorded falling rents in recent months," he says.
Other key findings of the May report:
<ul>
<li>Darwin has recorded the tightest vacancy rate of the capital cities, revealing a vacancy rate of 1.0% and a total of 237 vacancies.</li>
<li>Canberra has recorded the highest yearly increase in vacancies. Climbing 0.8% to 1.5% since the corresponding period of the previous year (May 2012) and coming to a total of 798 vacancies.</li>
<li>Hobart was the only capital city to record a yearly decrease in vacancies, falling by 0.1% to 2.7% since the corresponding period of the previous year (May 2012) and coming to a total of 739.</li>
<li>Hobart has however, recorded the highest monthly increase in vacancies, rising by 0.2% during May 2013.</li>
<li>Darwin was the only capital city to record a monthly decrease, falling by 0.1% to 1.0% during May 2013.</li>
</ul>
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National residential vacancy rate lifts to 2.1% in May: SQM

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House and unit prices have remained “relatively flat over recent months” though "still higher than the previous year" the minutes of the June 4 RBA board monetary policy meeting reveal.
However, signs of a pick-up in household appetite for borrowing and a “range of housing market indicators” suggested to the RBA the “housing market generally appeared to be improving” following previous cash rate cuts.
At the June 4 meeting the RBA left the cash rate unchanged, but the minutes reveal it discussed the possibility of further rate cuts noting that the “inflation outlook as currently assessed might provide some scope for further easing, should that be required to support demand”.
Overall with respect to the housing market, the June minutes were similarly upbeat as they were in May with members observing “that the effects of low interest rates had been evident in a range of housing market indicators”.
“Building approvals for both higher-density and detached dwellings had increased over recent months.
“The Bank's liaison contacts were generally becoming more positive about the outlook for dwelling investment.
“Also, loan approvals had grown more strongly in recent months, including for new housing, and auction clearance rates were well above average in Sydney and had picked up to be a bit above average in Melbourne.
“While measures of dwelling prices had been relatively flat over recent months, they were still higher than the previous year,” say the RBA minutes.
The RBA board also notes that following the decision in May to reduce the cash rate target by 25 basis points, “most lenders in Australia had subsequently lowered their standard variable housing rates in line with the reduction in the cash rate”.
“This resulted in lending rates for most households and businesses reaching or approaching historic lows.
“There were also signs that the appetite for borrowing in the household sector was picking up, and the housing market generally appeared to be improving, as the effects of the most recent and earlier reductions in the cash rate worked their way through the economy,” says the RBA.
In the minutes accompanying the May 7 decision to cut the cash rate by 25 basis points to a 53-year-low of 2.75% the RBA noted that “conditions in the housing market remained generally positive” with dwelling prices “around 4% above their trough in mid-2012”, and that auction clearance rates had increased.
It also noted an improvement in the mortgage market and that the pick-up in demand for new housing was improving “with enquiries from prospective purchasers and visits to display homes increasing”.
“New dwelling investment had increased since the middle of the previous year, with members observing that approvals for higher-density dwellings had increased, while approvals for detached dwellings had been flat over this period,” said the RBA in May.
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Dwelling prices still “relatively flat” but housing market "appeared to be improving": RBA minutes

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Borrowers will be able to access a one-year fixed-rate of 4.54% and a three-year fixed-rate of 4.69% through mortgage brokers that operate under NAB’s Advantedge Financial Services platform.
Since 2009, NAB has owned three of the largest mortgage broking business in Australia – PLAN, FAST and Choice under  the umbrella of Advantedge business.
The new rates, among the lowest in the market, are available exclusively through the Advantedge’s home brand fixed rate product suite under PLAN Lending, FASTLend and ChoiceLend and are effective from today, reports Australian Broker Online.
It continues a trend of lenders cutting fixed rates as demand for the product soars to nearly one in three borrowers, according to Mortgage Choice May data.
Today, <a href="/news">Westpac will cut its two and three-year fixed-rate home loan rates</a> below 5% for package home loan customers.
Last week <a href="/news">HSBC cut its two-year fixed rates for new home loans to 4.59%</a> and its three and five-year fixed rates to 4.79% and 5.09%.
Advantedge has reduced its standard fixed rates on one, three, four and five-year fixed rate terms, with the lowest available rate from 4.54% on a one-year loan (reduced by 0.10 percentage points) and from 4.69% on a three-year loan (reduced by 0.15 percentage points).
The group offers a four-year fixed rate loan at 5.06% and has cut its  five-year fixed-rate term by a further 10 basis points to 5.12%.
“Advantedge is committed to offering fixed rate products available exclusively through the broker channel, which provides brokers with the opportunity to offer their customers some of the most competitive rates in the market,” Brett Halliwell, general manager of Advantedge distribution.
 Advantedge product offerings through brokers:
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="154">
Fixed rate term
</td>
<td width="154">
Rate Change (p.a.)
</td>
<td width="154">
Full Doc Standard (p.a.)
</td>
<td width="154">
Discounted Rate (p.a.)
</td>
</tr>
<tr>
<td width="154">
1 year
</td>
<td width="154">
-0.10%
</td>
<td width="154">
4.64%
</td>
<td width="154">
4.54%
</td>
</tr>
<tr>
<td width="154">
2 year
</td>
<td width="154">
No Change
</td>
<td width="154">
5.07%
</td>
<td width="154">
4.69%
</td>
</tr>
<tr>
<td width="154">
3 year
</td>
<td width="154">
-0.15%
</td>
<td width="154">
4.84%
</td>
<td width="154">
4.69%
</td>
</tr>
<tr>
<td width="154">
4 year
</td>
<td width="154">
-0.10%
</td>
<td width="154">
5.16%
</td>
<td width="154">
5.06%
</td>
</tr>
<tr>
<td width="154">
5 year
</td>
<td width="154">
-0.10%
</td>
<td width="154">
5.22%
</td>
<td width="154">
5.12%
</td>
</tr>
</tbody></table>
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Mortgage brokers to offer borrowers fixed rates from 4.54% through NAB’s Advantedge offering

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The popularity of home renovation reality television shows like <a target="_blank" href="/news">Channel Seven's House Rules</a> and <a target="_blank" href="https://www.propertyobserver.com.au/news/the-gap-narrows-between-the-block-sky-high-and-house-rules-theblock9-houserules_on7/2013060662039">Channel Nine's The Block</a> are clearly having an impact on homeowners but a new survey has found that the vast majority of homeowners wish to renovate to improve their quality of living not to sell and make a profit.
Two out of five home owners (43%) surveyed by Mortgage Choice said they are planning to renovate their homes.
However, of these more than three quarters (77.3%) gave as their reason “to improve my quality of living”. 
Less than a quarter (22.7%) said they were renovating to sell their home and make a profit with around 15% planning to renovate to accommodate the needs of their growing families.
Hardly any plan to renovate to accommodate grandparents or relatives.
 
<table border="1" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td width="491" valign="top">
Why are you planning to renovate? 
</td>
<td width="113" valign="top">
Results
</td>
</tr>
<tr>
<td width="491">
To improve my quality of living
</td>
<td width="113">
77.3%
</td>
</tr>
<tr>
<td width="491">
For profit
</td>
<td width="113">
22.7%
</td>
</tr>
<tr>
<td width="491">
To accommodate growing children
</td>
<td width="113">
9.9%
</td>
</tr>
<tr>
<td width="491">
To accommodate a new child
</td>
<td width="113">
4.3%
</td>
</tr>
<tr>
<td width="491">
To accommodate grandparents/relatives moving into the same
</td>
<td width="113">
0.2%
</td>
</tr>
<tr>
<td width="491">
Other
</td>
<td width="113">
6.3%
</td>
</tr>
</tbody></table>
 
Source: Mortgage Choice
Reflecting the improved lifestyle motivations behind renovating, the kitchen and the bathroom are the areas of the house to get makeovers first, the survey found followed by outdoor entertaining areas and the living room.
 
<table border="1" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td width="491" valign="top">
What area/room will you renovate first
</td>
<td width="113" valign="top">
Results
</td>
</tr>
<tr>
<td width="491">
Kitchen
</td>
<td width="113">
28.2%
</td>
</tr>
<tr>
<td width="491">
Bathroom
</td>
<td width="113">
27.0%
</td>
</tr>
<tr>
<td width="491">
Outdoor entertainment area
</td>
<td width="113">
15.1%
</td>
</tr>
<tr>
<td width="491">
Living room
</td>
<td width="113">
10.4%
</td>
</tr>
<tr>
<td width="491">
Bedroom
</td>
<td width="113">
6.3%
</td>
</tr>
<tr>
<td width="491">
Laundry
</td>
<td width="113">
3.6%
</td>
</tr>
<tr>
<td width="491">
Study
</td>
<td width="113">
1.4%
</td>
</tr>
<tr>
<td width="491">
Other
</td>
<td width="113">
8.1%
</td>
</tr>
</tbody></table>
Source: Mortgage Choice
 The survey also found that the majority of those planning renovations (53%) plan to make major cosmetic renovations with no structural changes such as re-tiling or replacing kitchen cupboards with just over quarter (27%) planning major structural changes such as increasing room space or change the layout of their home.
Most renovation budgets are under $50,000.
The results of the Mortgage Choice 2013 Homeowners’ Intention Survey was based on the responses of over 1,000 Australian mortgage holders, with 444 answering 'yes' to the question: "Are you planning to renovate your home?"
“While renovations can potentially increase the value of a property, our survey results show that the purpose for many Australians is to improve their lifestyle by customising their home to suit them,” said Mortgage Choice spokesperson Belinda Williamson
“This lifestyle focus was further highlighted by the fact that of those Australians intending to renovate, 15% were looking to renew their outdoor entertainment area first. This was among the top three most popular areas to renovate and followed upgrading the kitchen and bathroom at 28% and 27% of respondents, respectively.”
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Pleasure not profit the reason for most home renovations: Mortgage Choice survey

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In the last five years since the GFC borrowers would have been better off taking out a HomeSide home loan than a mortgage through one of big four banks, a new lender index has found.
HomeSide is NAB’s home loan product offering sold solely via mortgage brokers.
HomeSide currently has an advertised variable rate of 6.16% and three-year fixed-rate of 4.99%.
It ranks first on the new Australian Lenders' Index compiled by mortgage broker 1300HomeLoan.
The index currently ranks six lenders: Commonwealth Bank, NAB, Westpac, ANZ, Homeside (a division of NAB), and St George Bank (a division of Westpac).
The current rankings as of June 2013 are:
<ol>
<li style="line-height: 16.363636016845703px;">Homeside - NAB subsidiary</li>
<li style="line-height: 16.363636016845703px;">National Australia Bank</li>
<li style="line-height: 16.363636016845703px;">ANZ</li>
<li style="line-height: 16.363636016845703px;">Commonwealth Bank</li>
<li style="line-height: 16.363636016845703px;">St George</li>
<li style="line-height: 16.363636016845703px;">Westpac</li>
</ol>
The index measures the interest rate performance of Australia's major lenders in the residential home loan market, across a range of industry metrics over a five year period dating back to March 2008.
Metrics include the average size of lender interest rate spread to RBA cash rate and the number of movements in line with the RBA cash rate.
It found that HomeSide has been providing consistently the best rates over the past five years with NAB ranking second and Westpac at the bottom of the list.
A Homeside customer could save $31,980 over the life of their loan relative to the worst performing lender in the index – Westpac.
This is based on a borrower taking out a $300,000 home loan with a standard variable professional pack interest with a relatively high 30% deposit.
"NAB's Homeside is currently delivering the best variable home loan products among the major lenders," says 1300HomeLoan managing director John Kolenda. 
"The Australian Lenders' Index has also found that Homeside has been providing consistently the best rates over the past five years," he says.
A full break-down of the index methodology can be found at <a href="https://www.australianlendersindex.com.au" target="_blank">www.australianlendersindex.com.au.</a>
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NAB’s mortgage broker product HomeSide beats big four banks as best post-GFC offering: new index

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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