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Gold Coast property owners - who are  in some cases years behind on their rates payments - face the prospect of losing their homes unless they enter into a payment plan with the Gold Coast City Council.
The Gold Coast City Council is owed around $73 million in unpaid rates and water bills in 23,950 overdue accounts - around 10% of the 241,548 properties the council rates.
Council will seek approval to sell 180 properties to recover some of the lost revenue.
Five houses were sold by the council in 2012 for the recovery of rates, but none were sold in 2011,2010 or 2009, reports the Gold Coast Bulletin.
There were two properties sold by the council in November, 2007, seven properties sold in May, 2008 and five houses sold by the council in March last year.
In some instances, ratepayers are in arrears whilst owning their homes outright.
The amount owed to the council in unpaid rates and water bills increased following the GFC, but has recently been reducing as the market shows tentative signs of recovery.
The Gold Coast property market – particularly the high-rise apartment market – was one of the worst hit property markets following the financial crisis with sales stalling and values tumbling.
House prices have started recovering this year though units continue to struggle.
According to the latest Prodap Report, average Gold Coast house price rose from $515,941 to $554,263 (7.4%) in the March 2013 quarter, partially reversing an 8.4% fall over 2011 and 2012 combined.
In contrast the unit market fell by 3% in the March quarter, based on 895 settlements following falls of 11.3% of the past two years.
Prodap Report author Bill Morris expects the Gold Coast property market to start recovering from 2015 in line with a seven year recovery cycle.
Chairman of the council’s finance committee William Owen-Jones said the decision to sell the homes was the last resort after years of chasing ratepayers to make payments or enter into a payment arrangement with the council, if they are in financial distress.
He said the preference was always to enter into a negotiated arrangement for those struggling to make their payments rather than undertake a recovery action.
Should the council seek to recover rates through the sale of a property, a reserve price for each land parcel is set by chief executive Dale Dickson.
Property owners have until the morning of the auction to enter a payment plan or arrangement with the council.
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lschlesinger-FZcF9M3vE6

Gold Coast City Council seeks to sell 180 homes as last resort to reduce $73.5 million rates arrears bill

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One in four wealthy investors have a self-managed super fund though there lingers a strong preference for owning an investment property outside of super, a new survey has revealed.
Around one in two (54%) wealthy investors – those with at least $500,000 to invest – own an investment property, with a quarter (24%) maintaining a self-managed super fund, according to a Hall &amp; Partners Open Mind survey of 202 wealthy investors carried out for The Australian newspaper.
All those surveyed had $500,000 invested in various asset classes (excluding their own home) with almost half (45%) having more than $1 million to invest.
Interestingly, a much higher proportion - a third of the “higher-net-worth” investors (those with $1 million or more to invest) - had an SMSF compared with 18% of those that had only $500,000 to invest.
Two-thirds of these wealthy investors have no plans to set up a SMSF in the future with the difficulty and hassle in setting up a DIY fund and the belief that they could not do a better job managing their super than a professional fund manager the key reasons for this decision.
The other main reasons for not having an SMSF include a lack of interest and not understanding the benefits.
The benefits of having a self-managed super fund include, since 2007, being able to purchase property in super with debt using limited recourse borrowing rules, giving investors the twin benefits of leverage and concessional tax rates.
Another benefit of buying in super, says Ken Raiss, a  certified accountant and director of accounting firm Chan &amp; Naylor,<a title="Chan &amp; Naylor " href="https://www.chan-naylor.com.au/" rel="nofollow" target="_self"></a> is that at age 60 no tax is payable on either rental income or capital gains.
Raiss also highlights that last year the ATO clarified that a self-managed super fund (SMSF) can borrow money to fund a cosmetic renovation, e.g. kitchen, bathroom, flooring etc.
"[However], if the renovation is structural, e.g. if it moves internal walls, then the funds must come from internal SMSF cash, not borrowings," he explains.
Factors that may discourage wealthy investors from setting up an SMSF include the somewhat complex structures that must be in place for borrowing to be considered legal by the ATO.
As Margaret Lomas explains: "It is not a straight loan to the superannuation fund – there must be a trustee who buys the property on behalf of the fund, who becomes the legal owner, while the superannuation fund becomes the beneficial owner that is, the entity which benefits from the asset.
Furthermore, she points out because a loan to a SMSF is a non-recourse loan (meaning the capacity of the lender to recover the outstanding money is limited to what they can recover by selling the property) loan to valuation ratios are usually quite low, around 60%, to allow a suitable margin to pay costs and to account for any falls in the market value.
"This means that the super fund will need to have the remainder of the purchase price, plus costs available," says Lomas.
Benefits of investing through a SMSF, says Lomas, include that as it is a trust structure, assets within this fund can pass more easily to beneficiaries.
Furthermore, if you own your own business you can borrow to buy your business’ real property (but not operating assets) using the super fund.
According to the same Hall &amp; Partners survey, property remains high on wealthy investors’ investment radars.
Asked how they would invest $100 over the next 12 months, wealthy investors said they were prepared to spend $23.49 out of every $100 of investment capital in property – below shares ($33.03) – but higher than their allocation to a high interest earnings savings or fixed deposit account ($19.55),  Asian shares ($5.96) or government bonds ($3.09).
The less wealthy investors in the group also planned to invest more money in both equities and property.
The survey reveals that 70% of wealthy investors have a savings account and 59% hold shares directly (not part of a managed fund or super).
Investment property is third most popular asset (54%) followed closely by a savings account or fixed term deposit account (53%) and superannuation.
While less than a quarter (24%) of wealth investors have an SMSF, it does rank higher than a cash management trust (19%), annuities (8%), hybrids (6%) and corporate, retail and government bonds.
The Australian interpreted the results of the survey as not necessarily a vote against SMSF, but as a reminder that there are many different investment strategies.
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Property very high on the radars of high net worth investors, and increasingly through SMSFs

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Consumers in the Northern Territory, Perth and Sydney are the most optimistic about dwelling values rising over the next six months, according to research by RP Data  and Nine Rewards.
RP Data surveyed 1,030 consumers prior to the May 14 federal budget statement and asked them about their <a target="_blank" href="https://www.propertyobserver.com.au/residential/housing-market-sentiment-improving-but-still-favouring-buyers-rpdata-ninerewards-survey-houseprices/2013052861748">expectations for the housing market </a>over the coming months.
Around 41% of respondents expected home values to rise over the next six months with the majority (52%) expecting a steady market. Only 7% expect dwelling values to fall.
Howerver, sentiment about house prices is decidedly stronger than the national average in the Northern Territory, Perth and Sydney as well as regional WA and Melbourne but weaker in regional Victoria, regional NSW, Brisbane, the ACT and Adelaide.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/06/lawlessjune3one.gif" title="Click to enlarge"><img src="/images/stories/2013/06/lawlessjune3onethumb.gif"></a>
"There aren’t any real surprises here… the markets which are generally showing the most buyer activity and value recovery are also the markets where the largest proportion of consumers are expecting values to rise over the coming six and twelve months," says RP Data national research director Tim Lawless.

"The Northern Territory (read Darwin), Perth and Sydney are the markets where the largest proportion of consumers are expecting values to rise over the coming six and twelve months.  Conversely, very few respondents are expecting improving values within Tasmania, regional South Australia and the ACT," he says.
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Expectations about dwelling values over next six months strongest in Perth and Darwin: RP Data survey

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There are some signs of an improvement in the Brisbane property market with a number of suburbs south and north of the city offering good investment options around the median house price, says property valuers Herron Todd White.

The median house value in Brisbane is around $442,000 according to RP Data-Rismark with values up just 1.4% over the past 12 months.

“Brisbane remains fairly price accessible despite some anecdotal strengthening this year, says Herron Todd White in its May market wrap.

“There is a slight spring in the step of agents although few are putting a deposit down on a Bentley just yet. 

“Enquiry is up and open homes are more crowded in most instances.”

Herron Todd White writes that market sentiment “seems to be improving with agents reporting greater interest but they still need to work at getting together the buyer and seller on a contract”.

However, there are few signs recent interest rate cuts have resulted in a spike in the number of sales. 

“Any median priced buyer would have great options available and if you’re cashed up and ready to move, then you’d be an attractive option for sellers.

“For detached homes, you will be within the five to 10 kilometre radius of the CBD. 

“This isn’t bad for a capital city and despite the common complaints about rush hour you would be hard placed to locate a commuter who considers 10 kilometres to be an inaccessible distance from the CBD. 

For those looking south of the city, Herron Todd White recommends the suburbs of Tarragindi, Holland Park and Salisbury  where planned infrastructure works and pending town planning changes will make them “even stronger as options for the median priced buyer.

“A typical three-bedroom, three-bathroom post-war cottage on an average size allotment will fall within the $350,000 to $400,000 price bracket. 

“The home may not set your heart a-flutter, but it will rent and should prove a solid investment over the medium to long term. Many of these properties do have renovation potential, but this style of house will mean a reasonable sized living area,” says Herron Todd White

There are also opportunities north of the city, but a little further rout.

“Perhaps you’ll pick up some older stock in McDowall or a touch closer in. 

“Less traditionally sized allotments might help your price-point if you were to move closer to the CBD and wanted to be in a well serviced location, but renovation is highly likely.

Apartments are a more affordable investment option for those who don’t want to head further away from the city.

“For somewhere over $300,000 you will get yourself a 1980s two-bedroom unit that will find a ready tenant base and should prove very accessible to transport and services. 

“Try the areas of Coorparoo and Greenslopes on the south side or perhaps the student accommodation end of St Lucia and Indooroopilly/Taringa. The trip to the city centre isn’t that far and you will have no trouble finding somebody to take on the lease.”

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Brisbane property market improving with good investor opportunities around the median price: Herron Todd White

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Sir Richard Branson's Virgin Active Australia gym chain has pre-committed to lease 4,400 square metres of space at Leighton Properties' 567 Collins Street office development with plans for a state-of-the-art health club.
It will be the second Virgin Active gym in the Melbourne CBD, with a branch currently operating on Bourke Street.
The Collins Street branch will include a 25m pool, aqua lounge and sauna, interactive cycle studio, dedicated mind &amp; body studios, Power Plate studio, indoor climbing walls and cafe.
The leasing deal with Virgin means the 567 Collins Street development, currently under construction and due for completion in 2015, is now 50% leased.
Other tenants include Leighton Contractors who will lease 12,700 square metres and law firm Corrs Chambers Westgarth who will lease 8,800 square metres.
The 26 storey building includes a 2-3 level high foyer comprising a lobby, cafe and retail component, seven levels of podium campus office and 16 levels of upper tower office with a net lettable area of around 55,000 square metres.
The 26-level building will be located between Spencer and King Streets within 100 metres of Southern Cross Station and close to the city's three main activities districts - the CBD, Docklands and Southbank. 
567 Collins Street was acquired by Investa Office Fund (IOF) and Investa Commercial Property Fund (ICPF) earlier this year.
Announcing the deal, the flamboyant Virgin boss said he was delighted that the Virgin Active busines was expanding in Australia.
"The business has been incredibly well received by Australians who love our approach to health and fitness and we look forward to opening many more clubs across the country,” Sir Richard said.
 


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Richard Branson's Virgin Active group exercises leasing deal at Leighton Properties' 567 Collins Street development

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The average Australian household's wealth is rising, but this is being driven by a rise in financial assets not from property.
The latest RBA chart pack shows a relatively steep decline in net wealth almost in tandem with a decline in dwelling values from 2009 to 2012.
However, since 2012 household wealth has been rising again (albeit still well off pre-GFC highs), while dwelling values have been flat.
Instead a rise in the value of financial assets - cash, shares, deposits etc - has driven the latest boost in household wealth.
Property - principally the family home - still makes up the bulk of household wealth.
<img src="/images/stories/april23tivoli/net_wealth.gif" width="470" height="410" alt="net_wealth">
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Australians' net wealth rising but not from property: RBA chart pack

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The solar powered rotating home in Canberra’s outer-north has sold for $1.2 million.
The sale is believed to be a record price in the suburb of Crace.
The house, called Girasole, is the <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/first-rotating-house-in-canberra-going-to-auction/2013051361312">brainchild of builder John Andriolo</a> and stands at 12 Indi Close.
A mid-May auction campaign failed to attract any bidders.
Pre-auction expectations were above $1 million.
It was bought by a local retired couple - Phillip and Anna Burroughs who are looking to downsize from a much larger house in Nicholls.
Co-selling agent Stephen Bunday of LJ Hooker Dickson says the property is worth around $1.2 million when the value of the land is factored in.
Bunday says the Burroughs were the the only ones to put in an offer with the couple reportedly very excited about "living in a moving work of art".
Contracts were exchanged today.
It is supported by 28 wheels and driven by two three-speed motors.
It takes 10 minutes to fully rotate and is controlled by a touch screen panel.
"It may be ahead of its time," said Bunday when it failed to sell at auction.
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Winning spin for Canberra's rotating house: $1.2 million Crace record sale

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Growth in digital earnings from Fairfax’s Domain real estate business is expected to offset some of the dramatic decline in its print earnings, Fairfax Media has revealed as part of an investor day briefing.
Amid speculation among analysts and its own publications, it was considering spinning off its digital platform, Fairfax Media disclosed graphs with key financial data on its real estate business, Domain for the first time. 
As part of the restructuring earlier this year Fairfax separated its Domain real estate business from the publishing businesses to highlight its growth potential and its value in case the post-Trade Me Fairfax needs quick and easy capital raising from a sale or spin-off.
It revealed revenue of about $141 million last financial year and earnings before interest, tax, depreciation and amortisation of $45 million.
The investors were told Domain had reached the "tipping point" where digital profit growth was offsetting declines in print, said Fairfax chief executive and managing director Greg Hywood.
Domain was by far the biggest contributor to Fairfax Media's exposure to around $335 million of real estate advertising and listings services revenue over the 2012 financial year. Domain's print business brought in $74.3 million and Domain digital bringing in $66.4 million.  
From Melbourne Anthony Catalano’s Metro Media Publishing group contributes $81 million to Fairfax's real estate advertising and services business.
Around $48 million is generated from primarily regional and rural print revenues (but with online a growing part of this business as well).
The remaining $65 million comes from other digital ventures such as commercial real estate listings and NSW community newspapers.
<img alt="domainjune6one" src="/images/stories/2013/06/domainjune6one.jpg" width="470" height="331">
<img alt="domainjune6two" src="/images/stories/2013/06/domainjune6two.jpg" width="470" height="318"> 
The forecast for the first half of the 2013 financial year is for digital revenues to grow by 14% year-on-year rising from $32.9 million to $37.5 million while print revenues are forecast to decline from $40.5 million to $28.8 million.
Digital revenues are also expected to make a far bigger contribution to earnings – while print earnings decline.
{yoogallery src=[images/stories/2013/06/june6domain]}
Fairfax Media is forecasting Domain digital earnings to rise 27% year-on-year for the first half of 2013 while print earnings are forecast to fall 33% year-on-year. 
<img alt="domainjune6three" src="/images/stories/2013/06/domainjune6three.jpg" width="470" height="295"> 
According to Fairfax Media chief executive Greg Hywood and Domain general manager Tony Blamey Domain’s digital growth is being driven by its market-leading positions in the affluent suburbs of Melbourne and Sydney, growing national coverage, increasing demand for its products from real estate agents and consumers and “delivering for estate agents”. 
"You will see that we are a force to be reckoned with in the real estate advertising sector in this country – with exposure to more than $300 million of real estate-related revenue," says Hywood.
"We believe that we have the brand, the expertise and the commitment to really build this business – and we invite you to make your own judgments about Domain’s value and the opportunity ahead." 
Domain derives 89% of its revenues from NSW and Victoria.
Domain has 7,500 agent subscribers - figure which has been steadily rising over the past two years – and claims 75% market penetration.  
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Domain digital earnings to partially offset print decline: Fairfax

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The Canberra suburb of Bonner was Australia’s top building and population hotspot in 2011/12, according to the latest HIA Population and Residential Building Hotspots report.
The report gives an indication of which locations are likely to experience a strong rise in residential construction activity over the coming years.
There is a $171 million worth of residential building work approved in Bonner, which has a population growth rate of 100%, reflecting the relatively new history of this area.
Bonner is in the district of Gungahlin, about 16 kilometres north of Canberra, named after Senator Neville Bonner, Australia's first Indigenous parliamentarian.
The second-placed hotspot was Forrestdale-Harrisdale-Piara Waters (about 30 kilometres south east of Perth) with $143 million worth of residential building work approved and a population growth rate of 23.5%.
Yanchep (56 kilometres north of Perth) ranked third where in 2011/12 the value of residential building work approved was over $102 million and the population growth rate was 18.8 %.
The top five list was rounded out by Baldivis (46 kilometres south of Perth), followed by Tarneit (25 km west of Melbourne).
The HIA defines a 'hotspot as a local area where population growth exceeds the national rate (which was 1.6% in the year to June 2012) and where the value of residential building work approved is in excess of $100 million.
Click to enlarge
<a href="/images/stories/2013/06/hiajune6one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/06/hiajune6onethumb.gif"></a>
Source: Housing Industry Association
For the second consecutive year, Victoria dominated the hotspots rankings with the state accounting for 10 of the national top 20.
Western Australia also had a strong year with the state represented four times in the national top 20 ranking.
The ACT punched well above its weight, providing two hotspots to the national top 20.
New South Wales also had two hotspots in the national top 20, following no entries in last year’s list, while Queensland and the Northern Territory each made one contribution.
"Residential building activity is in decline in Victoria and the ACT, but is heading south from record levels. It is no surprise these two regions still feature prominently in the top 20 list. WA, meanwhile, is seeing a recovery in new home building this year and four spots in the top 20 list provide an indication of the potential in the west," said HIA chief economist, Dr Harley Dale.
“In total there are 68 hotspots identified and many more areas where population growth is relatively fast or where the value of approvals for new homes or larger alterations and additions is quite healthy,” Dale said.
“There is clearly considerable potential for residential construction work in Australia – for a start, six of Australia’s eight states and territories feature in the national top 20 hotspots list."
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Canberra's Bonner is Australia's top dwelling approvals and population growth hotspot: HIA

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Pessimists outnumbered optimists in the latest quarterly Jones Lang LaSalle (JLL) survey of shopping centre manager sentiment despite a strong lift in sales. 

Only 48% of shopping centre managers surveyed in the May quarter survey expect some growth in sales turnover over the next 12 months compared with 53% of managers surveyed in February. 
This is despite the survey being carried out after the RBA cut the cash rate to a 53-year low of 2.75% and JLL reporting strong annual sales turnover growth across its managed portfolio averaging 4.4% for sub-regional centres who took part in the survey and 5.2% for neighbourhood centres. 
The quarterly survey of managers of the 173 shopping centres that make up Jones Lang LaSalle’s managed portfolio indicates that it remains a tenants market with speciality rental income growth slowing in the year to March 2013, particularly for sub-regional centres and rental incentives "necessary for both new and sitting tenants".
Average rental growth of just 1.2% was reported for sub-regional centres in the 12 months to March 2013, down from 3.8% for the year to December 2012. 
"It continues to be a tenants’ market, with landlords keen to maintain high occupancy and quality tenants within their centres at a time when new enquiry is subdued,” notes the report. 
The latest drop in shopping centre manager sentiment mirrors recent Westpac-Melbourne Institute consumer sentiment data with consumer sentiment falling by 7% in May and 11.7% over the past two months, to now sit at 97.6, below the 100 neutral mark. 
“The retail market remains challenging.  The improved sentiment of centre managers reported in our February 2013 survey was short-lived,” says JLL Australian head of property management, Richard Fennell.
Shopping centre managers identified the economic outlook as their number one concern, with 50% expressing negativity about the year ahead compared with 46% in February’s survey. 
Impact on Turnover Performance (%)
<table style="width: 470px;" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td nowrap width="136">
Impact
</td>
<td nowrap width="39">
V. Negative
</td>
<td valign="bottom" nowrap width="39">
Slightly negative
</td>
<td valign="bottom" nowrap width="39">
Neutral
</td>
<td valign="bottom" nowrap width="39">
Slightly positive
</td>
<td valign="bottom" nowrap width="39">
V. Positive
</td>
</tr>
<tr>
<td nowrap width="136">
Economic Outlook
</td>
<td nowrap width="39">
8
</td>
<td nowrap width="39">
42
</td>
<td nowrap width="39">
35
</td>
<td nowrap width="39">
16
</td>
<td nowrap width="39">
-
</td>
</tr>
<tr>
<td nowrap width="136">
Competition from other centres
</td>
<td nowrap width="39">
15
</td>
<td nowrap width="39">
27
</td>
<td nowrap width="39">
51
</td>
<td nowrap width="39">
7
</td>
<td nowrap width="39">
-
</td>
</tr>
<tr>
<td nowrap width="136">
Online retailing
</td>
<td nowrap width="39">
8
</td>
<td nowrap width="39">
34
</td>
<td nowrap width="39">
55
</td>
<td nowrap width="39">
3
</td>
<td nowrap width="39">
-
</td>
</tr>
<tr>
<td nowrap width="136">
Expected changes in tenancy profile
</td>
<td nowrap width="39">
5
</td>
<td nowrap width="39">
7
</td>
<td nowrap width="39">
53
</td>
<td nowrap width="39">
29
</td>
<td nowrap width="39">
6
</td>
</tr>
<tr>
<td nowrap width="136">
Planned refurbishment activity
</td>
<td nowrap width="39">
5
</td>
<td nowrap width="39">
3
</td>
<td nowrap width="39">
66
</td>
<td nowrap width="39">
20
</td>
<td nowrap width="39">
6
</td>
</tr>
<tr>
<td nowrap width="136">
Growth expectations within trade area
</td>
<td nowrap width="39">
1
</td>
<td nowrap width="39">
5
</td>
<td nowrap width="39">
65
</td>
<td nowrap width="39">
27
</td>
<td nowrap width="39">
2
</td>
</tr>
<tr>
<td nowrap width="136">
Political Environment
</td>
<td nowrap width="39">
3
</td>
<td nowrap width="39">
35
</td>
<td nowrap width="39">
47
</td>
<td nowrap width="39">
15
</td>
<td nowrap width="39">
1
</td>
</tr>
<tr>
<td colspan="6" nowrap width="333">
Source: Jones Lang LaSalle
</td>
</tr>
</tbody></table>
  The other key concerns were competition from other centres, the online shopping threat and the political environment. 
“The political environment continues to be an area of concern,” says JLL research director David Snoswell. 
“However, there are now more centre managers expecting a positive improvement in trading prospects in the year ahead due to the political environment compared with three months ago.  This may reflect a decisive election outcome for September. 
“Certainly there are now fewer ‘fence sitters’ in judging the impact of the political environment on trading as the election gets closer.  Those surveyed expressing the political environment as having a ‘neutral’ impact on turnover performance dropped from 77% in November 2012 to 56% in February and then 47% in May,” he added. 
The latest survey found that food retailing continues to outperform while clothing remains the concern. 
“Our May survey highlighted the poor performance of apparel in larger sub-regional centres as a major concern for centre managers,” says Fennell. 
“Getting the tenancy mix right is paramount.  Traditional views to the optimal tenancy mix are being challenged with many centres now focusing more on providing a greater mix of services, often at the expense of the fashion offer. 
“However, improved ABS sales figures in department store retailing and clothing, footwear and personal accessories are starting to come through, even if they are coming off a low base,” he adds. 
Customer numbers grew by an average 1% in the year to March 2013 with sub-regional centres (2.4%) and neighbourhood centres (5.5%) outperforming CBD centres, which have struggled to maintain their customer numbers.
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Still a retail tenants' market as rental growth slows and shopping centre manager optimism fades: Jones Lang LaSalle

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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