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The cost of renting a two-bedroom apartment in Perth increased by 7.1% over the March quarter to $450 per week, according to the latest Real Estate Institute of Australia report.
The Perth apartment market led the nation in quarterly rental growth ahead of Melbourne units, where the weekly rent increased by 5.7% to $370 per week.
Sydney unit rents were unchanged at $470 per week with Darwin the only market to record a decline in unit rents over the quarter, albeit just 0.2%.
A two-bedroom  Darwin apartment rents at $471 per week – just above Sydney – and is the most expensive capital city in Australia to rent an apartment.
Despite the recent slim correction, Darwin has been the best performing unit rental market (from a property investors’ point of view) over the past 12 months, registering an 18% annual rise.
Perth is the second best performing rental market on an annual basis with a 12.5% rise over the past 12 months followed by Sydney (4.4%) and Melbourne (up 2.8%).
Driving up rents have been low vacancy rates.
Perth, Sydney and Brisbane have the tightest unit markets with vacancy rates of just 2% followed by Melbourne (2.2%), Darwin (2.3%) and Canberra (2.9%) which all sit below the 3% benchmark vacancy rate.
Vacancy rates below 3% generally indicate a rental market favouring tenants while a vacancy rate above 3% is said to favour renters.
Hobart has the highest unit vacancy rate among capital cities of 4.8% - its weekly rents have fallen 5.3% over the past year.
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Perth and Melbourne units lead rental growth in March quarter as Sydney stagnates

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The unemployment rate improved slightly from an upwardly revised 5.6% in April to an estimated 5.5% in May, but driven by a rise in part-time jobs, the latest ABS data shows.
The ABS had previously reported a 5.5% unemployment rate estimate for April.
Economists had tipped the unemployment rate to rise to 5.6% in May and is a measure the RBA will factor into its considerations when it next meets on July 2 to decide on interest rates.
Concerns about employment security also factor into house-buying intentions and decisions.
Tellingly full-time employment fell 5,300 to 8,153,600 with an increase in part-time employment of 6,400 people pushing up the aggregate number of people employed by 1,100 to 11,663,300 in May.
The increase in total employment was mainly driven by an increase in male part-time employment.
The number of people unemployed decreased by 3,600 people to 682,900 in May.
"Overall, the labour force report for May was a little better than expected but still reflected relatively soft labour market conditions overall," said ANZ economist Justin Fabo.
"The unemployment rate has gradually trended higher for a little more than two years now and has been consistent with the decline in the ANZ job ads series
"Job ads suggest that employment growth is likely to be slower than population growth in the near term," he says.
CommSec chief economist Craig James took a different view reporting that the "job market defies the doomsayers" after employment rose by 1,100 in May compard with economists expecting a 10,000 fall in jobs over the month.
"If anyone had been wondering what was the true state of the labour market, they would certainly still be confused after the latest jobs result. While job losses at high profile companies continue to dominate the headlines, job numbers across Australia are still rising. In the first five months of 2013 over 99,000 jobs have been created," said James.
"A raft of companies has been telling us that it is hard to attract and retain the right workers. It is just that a small number of listed companies reporting job cuts dominate the headlines rather than the raft of small and medium-sized firms that are getting on with business and hiring new workers. The job market is healthy but becalmed, and consistent with the performance of the broader economy."
The ABS reported a seasonally adjusted labour force participation rate decrease of 0.1 percentage points to 65.2% per cent in May.  The seasonally adjusted underemployment rate was 7.4% in May 2013
Unemployment across states and territories was: NSW 5.6% (5.3% in April); Victoria 5.4% (5.8%); Queensland 5.8% (5.7%; South Australia 5.9% (5.8%); Western Australia 4.9% (5.3%); Tasmania 7.3%(7.5%; Northern Territory 5.1% (4.8%); ACT 4.1% (4.2%).
Combined with the unemployment rate of 5.5%, the latest seasonally adjusted estimate of total labour force underutilisation was 12.9% in May.
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Unemployment rate improves slightly to 5.5% in May, but from part-time jobs rise

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The Bedarra Island Resort in Far North Queensland is expected to re-open on July 1 more than two years after being closed when Cyclone Yasi struck in February 2011.
The resort was acquired by the family-owned Charlton Hotel Group in November 2011, which has since undertaken repairs and a refurbishments to the luxury tourism destination.
The Queensland-based group is headed by general manager Sam Charlton, the grandson of Olympic swimming legend Andrew "Boy" Charlton.
The price paid for the resort was not disclosed.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/leisure/bedarra-island-sells-to-queensland-s-charlton-hotel-group/2011112252493" target="_blank">As reported by Property Observer in November 2011</a>, the number of villas on the island has been reduced as part of its redevelopment with just seven compared with 16 prior to the cyclone devastation.
Room rates start from $990 per night per couple in the Oceanview Villas rising to $1,490 per night per couple in the Point or Pavilions villas.
Bedarra Island Resort occupies 44.96 hectares of land on the island and prior to the cyclone enjoyed a strong trading history.
The resort was named as Australasia’s Leading Boutique Resort at the World Travel Awards in 2007.
It is accessible via Mission Beach or direct helicopter flight from Cairns.
Charlton’s hotels include the Metropolitan Motor Inn, Toowong Villas and Mt Ommaney Hotel Apartments and the Kingsford Smith Motel, all in Brisbane.
Bedarra Island is renowned for its unspoilt rainforests and palm-fringe beaches. It is the second largest in the “Family Group of Islands” that form part of the Great Barrier Reef.
Prior to Cyclone Yasi Dunk was an established and profitable family friendly resort offering accommodation across 160 rooms.
The resort includes a nine-hole golf course (which could be extended to 18 holes), mains power, a freshwater dam and a sewerage treatment plant.
The Courier Mail reported in November 2011 that the Charlton Group was thought to have paid $6 million for the resort.
RP Data records show a $3.355 million sale in November 2011, which may only reflect the land component of the resort.
GPT Funds Management acquired the land for $21.5 million in June 2009.
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Charlton Group to re-open Bedarra Island resort from July 1

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Nearly a third of borrowers fixed their home loan rate in May, according to home loan approval figures from Mortgage Choice.
This is despite the RBA cutting the cash rate to 2.75% and with further rate cuts expected, but also as lenders continuing to discount their fixed-rate offerings with the Commonwealth Bank the latest lender to do so last week, <a href="/news">now offering a three year fixed-rate of 4.99%.</a>
Fixed-rate loans amounted to 30.10% of all new loans submitted by Mortgage Choice brokers and approved by lenders during the month of May.
This is the fourth consecutive month that demand for this loan type has risen – rising by 13.75 percentage points since January.
The figures come out one month ahead of the official ABS housing finance data. April ABS data showed fixed-rate demand at five year highs with one-in-five fixing their home loan.
Mortgage Choice accounts for around one in 10 home loan arranged in Australia and its monthly updates are a good lead indicator of national demand.
Ongoing discount variable rate home loans remain the most popular loan type accounting for 38% of all approved loans over May. Discounted rates are usually offered as part of a home loan package deal.
They are followed by standard variable  and basic variable with 13% each of the home loan market.
<img alt="mortgage_choice_figures" height="364" width="470" src="/images/stories/AlexPerry/mortgage_choice_figures.jpg">
Queenslanders continue to be the most conservatively-minded borrowers with the state recording the greatest rise in fixed rate demand up by 7.43 percentage points to reach 37.84% - the highest all the states.
All states apart from Victoria/Tasmania recorded a rise in fixed-rate home loan approvals (21% of loans) with a third of NSW borrowers (33%) fixing their home loan in May. 
“For four consecutive months now a growing number of new borrowers have chosen a fixed rate loan. In fact, the uptake of fixed rate loans now sits almost seven percentage points above the six-month average," said Mortgage Choice spokesperson Belinda Williamson.
“Given the ongoing, competitive pricing of fixed rate loans, it is possible that new borrowers choosing this loan type are motivated less by the peace of mind offered by steady repayments and more by the current offers.
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Nearly a third of borrowers fixed their home loan rate in May: Mortgage Choice

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The Canberra property market underwent a signficant statistical correction in the first three months of the year with average median house prices falling 8.7%, figures compiled by the Real Estate Institute of Australia show.
The headline Canberra correction is large and alarming, but only partially representative of the market as the biggest fall recorded across Canberra districts were 4% in Tuggeranong ($480,000) and 3.2% in Gunghalin ($455,000) with these two more affordable suburbs accounting for 80% of the 294 preliminary sales.
The much bigger weighting to lower priced house sales (which fell) were responsible for the higher 8.7% fall in the median price, using the REIA methodology.
The REIA determines median prices based on the reporting of sales information based on sales at the date of contract exchange.
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Canberra, Sydney, Melbourne, Adelaide and Perth median prices are based on preliminary unrevised figures based on a high (75% -90%) sample of final sales. Brisbane, Hobart, Darwin median prices are not revised.
Prices held firm in the more expensive districts closer to the centre of Canberra.
In the Inner Central district (Canberra North and Canberra South) house prices gained 0.6% to $746,300.
In the inner South (Woden and Weston Creek) house prices lifted 0.8% to $617,300.
REIA researcher Evgeniya Hawthorne tells Property Observer while final figures are usually revised upwards, the estimates are a “right reflection of the market” with Canberra vendors having to discount their offerings to achieve a sale.
Overall, the property market tread water in the March quarter with the weighted average median price for the eight capital cities falling 0.2% for houses to $534,015 with units down 0.9% to a median of $434,601.
Darwin was the strongest performer in the detaching housing market with its median house price up 2.4% to $592,000 with Sydney (up 1.6% to $673,681) and Perth (up 1.0% to $505,000).
Apart from the steep decline in Canberra house prices, the other capital cities to record noteworthy declines in their detached house prices in the March quarter were Brisbane (down 2.3% to $430,000) , Hobart (down 1.4% to $360,000) and Adelaide (down 1.3% to $395,000).
In the unit market, only Perth (median prices up 2.4% to $425,000) and Hobart (up 1.0% to $290,000) recorded gains.
Apart from Canberra’s 6% correction in its unit prices, Adelaide (down 2.3% to $300,000), Sydney (down 1.6% to $473.808) and Darwin (down 1.2% to $425,000) all recorded declines of more than 1% over the quarter.
Year-on-year house prices are up 4% with median house prices increased in all capital cities apart from Canberra, with values down 7.2%.
Darwin recorded the largest rise across the capitals, up 7.6% followed by Perth (5.2%) Melbourne (4.8%), Sydney (4.2%) and Adelaide (3.4%)
Unit prices are up 1.7% over the past year with Hobart recorded the largest increase, up by 13.7% followed by Perth (3%), Darwin (2.4%), Melbourne (2.2%) and Sydney (1.7%).
In terms of rentals, the REIA data shows that nationally, median house rents increased over the March quarter across the capitals, with Perth and Canberra recording the highest increases of 4.4% and 4.3% respectively.
Rents for two bedroom other dwellings increased in Melbourne, Brisbane, Adelaide, Perth and Hobart while median other dwellings rents remained unchanged in Sydney and Canberra.
Darwin recorded a 0.2% decline in rents for two bedroom other dwellings, which probably reflects the increased supply of apartments coming online in the Top End’s capital, said Bendigo and Adelaide Bank retail executive Dennis Bice.
The report was co-sponsored by Bendigo Bank.
Bice said that despite the slight decrease in the March quarter, the weighted average median house price has risen 4.0% in the past 12 months.
“With the exception of Canberra, there has been median house price growth in all Australian capital cities,” he said.
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Canberra median house prices down a 'statistical' 8.7% as property market treads water in March quarter: REIA report

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Demand for fixed-rate home loans surged to its highest level in more than five years in April, the latest ABS housing finance figures reveal.
More than one-in-five borrowers (20.6%) fixed their home loan rate in April up from 18.4% in March and 13.5% in February.
The ABS figures show big surges in fixed-rate demand in NSW (up 18%), Victoria (up 22%) and WA (up 31%) in April.
The previous high (and all-time high for ABS data going back to 1991) was in March 2008 when more than a quarter (25.5%) of borrowers fixed their home loan rate when the cash rate reached 7.25%.
This followed a period of increased take-up of fixed rates as the cash rate rose with fixed rate demand as a proportion of total mortgage lending above 20% between October 2007 and March 2008.
For many who fixed over this period, it proved a disastrous move as the RBA then proceeded to cut the cash rate by 425 basis points between September 2008 and May 2009 – leaving those on fixed-rates with significantly higher mortgage payments.
The only option then was too pay hefty mortgage exit fees (still in place for fixed-rate home loans) or continue to pay the higher mortgage payments until their fixed-rate term ended and then refinance into a cheaper variable-rate home loan.
This time the situation is quite different with the cash rate down to a 53-year-low of 2.75% and lenders offering enticing one, two and three-year fixed rates well below 5%.
A more conservative mindset amid concerns about the economy and jobs may also be a factor in rising take-up of fixed-rates.
The most recent lender to cut its fixed-rates was <a href="/news">the Commonwealth Bank</a>, the nation’s biggest mortgage lender, which cut interest rates on new three-year fixed rate home loans- the most popular fixed-rate term - to 4.99% per annum under its package home loan offering.
Others to have cut their fixed-rates recently include <a href="/news">Citibank</a>, <a href="/news">RAMS</a>, and <a href="/news">Aussie</a>.
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Fixed-rate home loan demand surges to five-year high with one in five fixing: ABS

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More than 110,000 property investors will receive letters from the Australian Tax Office after new data mining technology identified they may have submitted incorrect tax claims based on their 2011-12 tax returns.
Most will relate to incorrect rental property deductions with figures for the 2010-11 tax year revealing that around <a target="_blank" href="https://www.propertyobserver.com.au/landlords/two-thirds-of-property-investments-negatively-geared-ato-figures/2013043060891">two-thirds of property investor negatively gearing their investments</a> and claiming losses on their investment properties to offset their tax bills.
“This year we are writing to more than 110,000 rental property owners about their entitlements and obligations, to help ensure tax returns are filled in correctly,” said the ATO in a statement.
The incorrect claims have been identified through new data-mining technology and using a specialist team called “the doctors”, reports Fairfax Media.
In April, the ATO revealed it would use new data-matching technology to closely scrutinise residential and commercial property sales to ensure tax payers paid the correct amount of tax.
It said 10.4 million taxpayers would face scrutinise over their property dealings this year with the ATO’s high tech computer systems gathering real property transaction details from state revenue offices and relevant state government land and property departments.
The recently released 2010-11 ATO figures show there was a small rise in gross rental income from $28 billion to $30.7 billion but a bigger rise in tax deductible rental interest payments (up from $18.4 billion to $22.7 billion), capital works deductions and other allowable rental deductions.
The ATO has<a href="https://www.ato.gov.au/corporate/content.aspx?doc=/content/00355988.htm&amp;pc=001/001/001/003&amp;mnu=0&amp;mfp=&amp;st=&amp;cy=" target="_blank"> released tips to ensure property investors know what they can claim and cannot claim.</a>
Expenses that may be claimed "straight away" in the income year in which they are incurred include interest on a loan used to purchase a rental property, interest on a loan to purchase land to build a rental property or interest on a loan to purchase a depreciating asset for the property - such as an air conditioner; or to finance renovations or home improvements, like a deck.
Investors can claim other expenses over a number of years, including the cost of depreciating assets, structural improvements and most borrowing costs.
Assets that are part of the property such as stoves, refrigerators, air conditioning and hot water systems can be claimed over a number of years as a 'decline in value' deduction.
Expenses for which investors are not able to claim deductions include acquisition and disposal costs of the property, expenses not actually incurred by them, such as water or electricity charges borne by tenants and expenses that are not related to the rental of a property.
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ATO to write to 110,000 rental property owners over incorrect rent deductions

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Mirvac has given Sydney CBD workers the first glimpse of the grand six-storey entrance that will sit underneath its new 8 Chifley Street office tower.
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The office tower is the first Australian office building designed by renowned UK architect Richard Rogers.
Rogers most distinctive buildings include the Pompidou Centre in Paris, the Lloyd’s of London building and the Millennium Dome in London.
The curved shapes rising up the corner of the building on Phillip Street are strikingly similar to the famed shiny industrial facade in the Lloyd's of London building, considered a modern architectural masterpiece.
The reveal of the grand entrance at 8 Chifley follows the completion of the foyer paving of what will be a new public space in the Chifley Square precinct in the northeastern corner of the Sydney CBD.
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The new office tower is under construction directly next to another iconic Sydney office tower – the Deutsche Bank tower with its distinctive triangle-shaped steel frame top.
The 34-storey building is due to be completed in August – ahead of schedule.
The building will rise above the public space and six-storey void supported by enormous blue girders with red girders zig-zagging up the side.
The ground floor open space will be repeated midway up the building and again at the top, “integrating Australia’s outdoor lifestyle into the city environment”.
QBE Insurance Group announced in April it had signed a 10-year agreement to lease approximately 2,800sqm of the building, which is jointly owned by Mirvac and Keppel REIT.
Law firm Corrs Chambers Westgarth has also leased over 8,000 square metres of space, representing approximately 42% of the building’s net lettable area, for a 12-year term.
A further three vertical villages remain available to lease.
The building’s design is a collaboration between the internationally renowned Rogers Stirk Harbour + Partners and Australia’s Lippmann Partnership.
It stands on a north-facing site, bounded by Elizabeth, Hunter and Phillip Streets and will feature seven vertical villages providing connectivity and vertical integration between the floors and adding to the feeling of extensive space throughout the premises.
“We are excited to announce that 8 Chifley will complete ahead of schedule in August, offering a progressive and world class head office space for organisations and enhancing Chifley Square as a dynamic pedestrian hub,” said Mirvac’s CEO for development and group strategy, Brett Draffen.
“From the unique suspended glass foyer enclosure to the elevated ‘village square’ on the 18th floor to the eye-catching red exterior braces, the final construction remains true to the original vision and delivers a vibrant new landmark in Sydney’s CBD precinct.”
Ivan Harbour of Rogers Stirk Harbour + Partners says the design, “whilst internationally significant, is very specific to the climate and culture of Sydney”.
“Perhaps the defining feature of the project is the six-storey open space at street level that not only forms a grand entrance to the building but creates a new, significant area of public space which addresses and completes Chifley Square.
8 Chifley will be one of the greenest buildings in Sydney when completed.
It has achieved a 6 Star Green Star Office Design and is committed to achieving a 5 Star NABERS Energy Rating.
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Mirvac gives glimpse of six-storey foyer beneath Richard Rogers-designed Sydney office tower

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Prime Brisbane retail property on Queen Street Mall offers signficantly stronger returns to investors than the more glamourous shopping strips of Singapore and Hong Kong, research by DTZ reveals.
The graph below shows the gap between Brisbane and its Asian rivals, which looks set to remain in place until at least 2017, although it is forecast to narrow.
<img alt="retail_yields_brisbane" height="360" width="470" src="/images/stories/april11rosebery/retail_yields_brisbane.jpg">
The graph is included in the latest DTZ Foresight Asia Pacific Fair Value report for the first quarter of 2013.
"Despite anticipated rate hikes, borrowing costs currently remain low across the region due to lingering global uncertainties, weak regional recovery and volatile international capital flows," reported DTZ.
"At the same time, investors’ perception of risk has reduced again this quarter; the combination of low borrowing costs and lower risk premiums is making property attractive relative to fixed-income returns."
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Brisbane retail returns stronger than Hong Kong and Singapore: Chart of the week

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Consumer sentiment rebounded in June following sharp falls in April and May, with house-buying intentions still very strong.
The Westpac Melbourne Institute Index of Consumer Sentiment rose 4.7% in June from 97.6 in May to 102.2 taking the index back over the 100 level indicating that optimists now just outnumber pessimists.
The results were based on a survey of 1,200 Australians aged over 18 conducted in the week from 3 June to 9 June 2013 - when the RBA left the cash rate unchanged at 2.75%.
Despite the rebound in June, consumer confidence still remains 8.2% lower than its peak early in the year.
There was only a small 0.4% rise in the ‘time to buy a dwelling’ sub-index in June but it remains at an elevated level of 143.3, up 12% over the past year and well above the long-term average of 123.1.
It also has the highest reading of the five sub-indexes.
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“Clearly consumers see this as an opportune time to make major purchases or enter the housing market, likely reflecting the low cost of finance and comparatively good affordability,” says Westpac senior economist Matthew Hassan.
“However concerns about the economic outlook are likely discouraging many buyers from going ahead with actual purchase decisions,” he added.
Hassan notes that all components of the index recorded some improvement between May and June with the strongest gains around family finances.
The sub-index tracking  assessments of ‘family finances vs a year ago’ rose 8.5%, more than reversing the 8% drop in May while the sub-index tracking expectations for ‘family finances over the next 12 months’ rose 5.3%’.
“It appears that some of the factors behind the sharp drop in sentiment in May were temporary,” says Hassan.
“In particular, concerns stemming from the Federal Budget may have eased somewhat in June.
“However, a deterioration in consumer sentiment around prospects for the Australian economy, which has been a key underlying theme over the last three months, remains apparent,” he added.
The sub-index tracking expectations for ‘economic conditions over the next 12 months’ was up 3.8% after a heavy 13.8% fall in May; and the sub-index tracking expectations for ‘economic conditions over the next five years’ up just 3.2%.
"However, both remain sub-100 indicating a pessimist forward view on the economy," says Hassan.
“These fears [about the economy] would have been underscored by the weak first quarter national accounts data, a sharp sell-off in the sharemarket (down 7% between the May and June surveys) and a slide in the Australian dollar (down 4¢ vs the US dollar between the two surveys), " he says.
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Consumer sentiment lifts 4.7% in June with house buying sentiment still elevated: Westpac 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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