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Superannuation funds are expected to deliver their strongest annual returns this financial year since 1996-97 with the recovery spurred on by the rising share market and a rebounded listed property trust (A-REITS) sector.
With two months to go in the 2012-13 financial year, the average balanced fund has returned 15.4% between July 1 2012 and April 30 2013, according to super research and consultancy firm Chant West.
Chant West estimates that returns rose to 17% as of last Friday with the 10-year-median return for balanced fund at 7.1%.
<img src="/images/stories/april23tivoli/chant_west.jpg" width="470" height="158" alt="chant_west">
The fall in the Australian dollar since the RBA cut the cash rate to a 53-year-low of 2.75% on May 7 has also help drive up returns by increasing the value of unhedged international shares.
Shares and listed property were the stand-out performers over the March quarter.
Australian and global REITs rose 5.3% and 8.8% respectively as investors returning to riskier assets.
Atchison Consultants managing director Ken Atchison <a target="_blank" href="https://www.propertyobserver.com.au/commercial/a-reits-deliver-strong-results-and-beat-equities-ken-atchison/2013042360678">wrote on Property Observer</a> that A-REIT total returns were "substantial" over the year to 31 March 2013.
"Listed property returned 30.7%, outperforming equities by 10.7%.
"Over three years listed property returned 11.7% p.a. Industrial property was the strongest performing sector over three years at 20.4% p.a, " he wrote.
In contrast bond markets have been more subdued with Australian and international bonds returning 0.2% and 1.2% respectively, reported Chant West.
The more aggressive fund categories – high growth and growth funds - which have a higher proportion invested in shares and listed property, have produced the best returns
“The strong share market rally has been driven largely by improved sentiment, with investors reacting optimistically to good news and looking past the current subdued growth rates, says Chant West director Warren Chant.
“Economic data out of the US was mainly positive over the quarter, and the Federal Reserve indicated that it’s in no hurry to end its quantitative easing and low interest rate policy.
“And although China’s most recently reported growth rate fell marginally short of expectations, there have been indications that its economy is now back on track.
“However, it wasn’t all smooth sailing as we were reminded that the Euro debt crisis still lingers, with concerns surrounding Cyprus’ debt woes and the political uncertainty in Italy,” he said.
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Shares and listed property help put super funds on track for best result in 16 years: Chant West

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The embattled residential building sector is forecast to recover strongly over the next three years, with the catalyst being low interest rates. 
However, the strong growth phase won’t extend to the non-residential building sector with only “modest growth forecast” while there will be a contraction for engineering construction as the mining investment boom slows and big resource projects are completed.
Masters Builders Australia (MBA) forecasts the value of residential building work done, in real terms, to grow from $46.2 billion in 2012-13 to $60.9 billion in 2015-16. 
Over this same time frame, dwelling starts are predicted to rise to 164,000 in 2013-14, 179,000 in 2014-15 and 183,000 in 2015-16 – more than a decade after dwelling starts peaked at around 175,000 in 2004. 
This follows a number of years of contractions with many high-profile building companies collapsing including Kell &amp; Rigby, St Hilliers Construction, Reed Construction, Baseline Constructions and <a href="https://www.propertyobserver.com.au/industry-news/nahas-construction-latest-aussie-home-builder-to-enter-administration/2012112057964" target="_blank">Nahas Construction</a>.
A NSW government inquiry into the sector last year found that <a href="https://www.propertyobserver.com.au/industry-news/one-in-three-nsw-company-collapses-are-building-firms-state-building-inquiry/2012080955940" target="_blank">one in three company collapses in the state were building companies</a>.
MBA chief economist Peter Jones says the forecasts indicate there is “light at end of a very long tunnel for the residential and commercial building sectors, but does not herald a return to boom era levels”. 
The building and construction industry group basis these bullish forecasts on the underlying assumption that low interest rates will work to “release significant pent up demand after a long period of under-building that occurred at the same time as Australia experienced strong population growth”. 
The forecasts have been developed by Master Builders in collaboration with Independent Economics. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/05/mbamay21one.gif"><img src="/images/stories/2013/05/mbamay21onethumb.gif"></a>
“The stronger performing states are forecast to be Queensland, New South Wales and Western Australia,” says Jones. 
“The key risks to the forecasts are frail consumer confidence, economic uncertainty, asset price volatility and ongoing softness in the labour market. 
“The improvement in the residential building outlook comes from a very low base and the challenge remains for policy makers to address supply side inefficiencies and impediments that have contributed to the nation’s growing housing shortfall,” he says. 
Non-residential building work done is predicted to decline further in real terms in 2012-13 followed by modest growth in the following years. 
Growth is expected to be driven by commercial and industrial building sectors, contrasting with weakness in social and institutional sectors and education related building. 
“For non-residential building, strongest performing states are forecast to be NSW, Queensland and Victoria, with industrial, retail and office building leading the way. 
“The key headwinds and risks are poor cash flows, low margins and tough lending criteria. Investor confidence also remains low reflecting current economic conditions,” Jones says. 
In the engineering construction sector, activity is forecast to increase 5.4% in real terms to $122.1 billion in 2012-13 before falling back 12% to over the following three years to a level of $108.0 billion. 
“After very strong growth, engineering Construction activity in the Northern Territory, Western Australia and Queensland are forecast to fall back, albeit remaining at extremely high levels in an historical context. Victoria and Tasmania look set to benefit from stronger infrastructure spending,” Jones said.
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Low interest rates to spur strong residential building recovery over next three years: MBA

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Westpoint founder Norm Carey says he will sue corporate watchdog ASIC, after charges against him in relation to the 2006 collapse of the property investment business were dropped.
The charges against Carey and former Westpoint chief financial officer Graeme Rundle were dropped, two weeks into a trial in Perth's district court.
ASIC had alleged that both had breached their duties as officers of Westpoint Management Limited and Westpoint Corporation Pty Ltd in relation to the purchase of the Warnbro Fair Shopping Centre and adjoining land.
Westpoint collapsed in January 2006 with investors having placed $388 million of funds in Westpoint related financial products.
“During the course of the trial, ASIC located a document relevant to the charges,” said ASIC.
“In accordance with ASIC’s procedural fairness obligations, ASIC immediately disclosed the document and copies were given to Mr Carey and Mr Rundle, and the court. “Following an assessment of the document in the context of the prosecution’s case, the Commonwealth Director of Public Prosecutions today advised the District Court of Western Australia that the case should proceed no further and filed Notices of Discontinuance.”
Carey said he would seek millions of dollars in compensation over the failed prosecution, reported Fairfax Media.
He says his legal fees were around $500,000.
Carey said the evidence presented at the trial showed that he acted not only honestly, but that he had put the interest of investors above his own.
In December 2011, <a href="https://www.propertyobserver.com.au/industry-news/westpoint-founder-norm-carey-withdraws-proceedings-against-asic/2011121152780" target="_blank">ASIC settled an action brought by Carey</a>.
Carey had claimed unspecified damages from ASIC for alleged misfeasance in public office and negligence, arising from ASIC’s decisions in late 2005 to start winding-up proceedings against two Westpoint mezzanine finance companies.
In June 2011, a jury found Graeme Rundle guilty on two charges of making false or misleading statements to a financial institution in support of a $71 million credit facility application to fund a Westpoint building of the Scots Church project in York Street, Sydney.
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Westpoint founder Norm Carey to sue ASIC after charges dropped

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Property investment firm Money Choice, founded by embattled SMSF property investment spruiker Matthew George, has changed the setting of its Twitter account to restrict access to its tweets to approved followers only.
The firm has also removed the words "SMSF" and "finance" from its Twitter description after ASIC cancelled the credit licence of Money Choice Pty Ltd (Money Choice)  on May 15.
Tweets from the @moneychoice Twitter account, which has 622 followers, were available for anyone to read last week.
The last tweet which appeared before the account’s status was changed to ‘protected’ appeared on May 16, a day after the ASIC announced it had <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/property-investment-smsf-spruiker-matthew-george-director-of-money-choice-banned-by-asic-for-multiple-compliance-failures/2013051561378">banned Money Choice director Matthew George</a> from engaging in credit activities for eight years and from providing financial services for three years.
It encouraged people to visit the company’s head office in South Yarra:
<img alt="money_choice_screengrab-001" height="433" width="470" src="/images/stories/april23tivoli/money_choice_screengrab-001.jpg">
A protected account means tweets from that account may only be visible to approved Twitter followers.
Twitter recommends such as setting if “you want to control who sees your updates”.
The current Money Choice Twitter page:
<img alt="protected_money_choice_tweets" height="414" width="470" src="/images/stories/april23tivoli/protected_money_choice_tweets.jpg">
This week, self-regulatory investor body the Property Investment Professionals of Australia (PIPA) suspended Matthew George’s Money Choice corporate membership in light of the ASIC decision and  said it would be conducting its own investigation into the matter.
PIPA chair Ben Kingsley said ASIC’s decision to crack down on the SMSF space highlights “ongoing issues within the fast-growing SMSF sector”.
Money Choice and Matthew George have the right to lodge an application for review of ASIC’s decision with the Administrative Appeals Tribunal.
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Money Choice puts public lock on Twitter account as PIPA suspends corporate membership pending an investigation

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A Dubai court has sentenced Australian property developers Matthew Joyce and Angus Reed to 10 years in jail over bribery and corruption charges in relation to a 2007 Dubai waterfront land deal involving Queensland developer Sunland.
They have been ordered to repay the Dhs44 million fee they earned on the deal, and a fine of a similiar amount.
Joyce has been held in Dubai since 2009 when Sunland alleged that it was duped into paying a $14 million “introductory fee” to Reed to secure the land on the Dubai waterfront, a development plot on Dubai Waterfront, a subsidiary of the state-owned developer Nakheel.
Melbourne-based Angus Reed, managing director of Prudentia Investments - an school friend of  Matthew Joyce - faces the possibility of extradition to Dubai, reported The Australian Financial Review.
The Australian has reported Matthew Joyce has declared his innocence and plans to appeal.
A third business executive, Marcus Lee, a colleague of Matthew Joyce, who has also been detained in Dubai since 2009, was acquitted of all charges relating to the property deal. So too was Anthony Brearley found not guilty.
The cases against the three executives were brought by the government of Dubai based on its own audit report.
The AFR reported Mr Lee and his wife, Julie Lee, said they were "overwhelmed" on hearing news of the acquittal.
“It has been personally a very difficult period in our lives, particularly being away from our families in Australia who have also suffered personally and financially.
"We are looking forward to seeing our families again and restarting our lives. We thank all those who have supported us and believed in us,” Mr Lee and his wife said.
Lee's pro-bono Australian lawyer John Sneddon told 2GB's Money News host Ross Greenwood that the judgement was 78 pages long. He said the couple were "financially ruined" having sold their Australian properties while awaiting the exoneration. 
Sunland acknowledged the judgment in a 5.30 ASX notification.
"The matter has received considerable media speculation and attention for several years.
"Sunland recognises the independence of the Emirate of Dubai and its legal system, and acknowledges the outcome of the proceedings.
"Sunland's civil proceedings in Australia were initiated against Matthew Joyce, Angus Reed and an associated company, Prudentia, and not Marcus Lee (to whom Sunland provided an exculpatory letter for use in Dubai) or Anthony Brearley.
"Sunland had previously commenced proceedings in Dubai to recover Dhs 44 million paid to Prudentia which was the subject of an anti-suit injunction in Australia.
"Following today's judgement in Dubai, Sunland will review closely its contents and impact on Sunland's legal rights and its outstanding legal proceedings.
"The Australia civil case is subject to appeal, and Sunland is currently awaiting a decision from the Court of Appeal in Victoria." the Sunland statement to the ASX said.
The Victorian Supreme Court found Sunland had "commenced and continued the ... proceedings in wilful disregard of known facts and law" and with a willingness to implicate Mr Joyce unjustifiably.
Sunland has appealed the Victorian judgment.
In February Prime Minister Julia Gillard phoned Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum, to seek a review of the Dubai case.
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Dubai court hands 10 year jail terms to property developers Matthew Joyce and Angus Reed over 2007 land deal

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John Symond has delivered a bullish speech on the outlook for the housing market over the next few years forecasting "steady" price gains as one of the keynote speakers at the Australian Real Estate Conference (AREC) on the Gold Coast today.
He also inspired delegates – many of whom tweeted from the conference – of how he had worked as a kid in a fruit shop and then overcome near bankruptcy to establish the Aussie Home Loans business.
Titled ‘It all starts with a big dream’ the Aussie Home Loans founder said the next 12 months to two years would be a good time to be in the property market.
He said house prices had bottomed out and the market would turn the corner after the federal election in September - when more certainty returned to politics - with house prices rising at a steady rate rather than leaping ahead.
"If you want to pick a time to get into housing, you can't get a much better time than now," Symond told a huge industry gathering.
Highlights of his speech were tweeted by those in attendance, including Property Observer blogger Leanne Pilkington, general manager at Laing &amp; Simmons:
<img src="/images/stories/april23tivoli/leanne_pilkington_tweet.jpg" width="470" height="95" alt="leanne_pilkington_tweet">
Sunshine Coast real estate agent Simon Thomas, was also inspired tweeting the following along with a photo of John Symond at the conference:
<img src="/images/stories/april23tivoli/simon_thomas.jpg" width="470" height="89" alt="simon_thomas">
<img src="/images/stories/april23tivoli/john_symond.jpg" width="470" height="292" alt="john_symond">
Quest Real Estate was also buoyed by the speech, tweeting Symond’s positive outlook and post-election expectations:
<img src="/images/stories/april23tivoli/quest.jpg" width="470" height="153" alt="quest">
Symond told delegates interest rates were at their lowest on record, and could head even lower.
He said there was evidence that house prices were rising all across Australia.
He was particularly bullish about the outlook after the election.
"After the election, most Australians will feel they have a government that can make decisions in their own right and that will boost confidence,” said Symond, reported News Limited, co-sponsors of the conference.
"It is very difficult for any government to govern efficiently when they have to rely on splinter groups and a coalition of interests."
He encouraged first-home buyers to act on “market signals” and not to wait for further incentives from governments, highlighting that home loans were available at below 5%.
He said affordability was it its best in many years.
Symond quoted RP Data research showing the number of suburbs where it was more affordable to buy a home under $500,000 than rent had grown from 500 two years ago to 796.
But he highlighted that property was a long-term investment and not a “quick kill”.
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Next two years a good time to be in property with “steady” house price growth expected: John Symond

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A run in with ASIC has failed to dampen the spirits of Money Choice founder Matthew George.
<a href="https://www.propertyobserver.com.au/industry-news/property-investment-smsf-spruiker-matthew-george-director-of-money-choice-banned-by-asic-for-multiple-compliance-failures/2013051561378" target="_blank">Last week he was banned</a> by the corporate regulator from engaging in credit activities for eight years and from providing financial services for three years.
Today he tweeted from his personal Twitter account - <a href="https://twitter.com/MGMoneyChoice" target="_blank">@MGMoneyChoice</a> - to ask everyone - his 147 followers - how their weekend was:
<img src="/images/stories/april23tivoli/matthew_george.jpg" width="470" height="390" alt="matthew_george">
George was banned by ASIC after an investigation found failures to comply with credit laws, responsible lending shortfalls and instances of unlicensed self-managed superannuation fund (SMSF) advice.
George is the sole director of Melbourne-based property investment and finance business, Money Choice.
Money Choice and Matthew George have the right to lodge an application for review of ASIC’s decision with the Administrative Appeals Tribunal.
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“How was your weekend?” asks Money Choice founder Matthew George: Tweet of the day

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Property prices are forecast to rise 5% nationally in 2013 moderating to 3.5% in 2014, according to Westpac senior economist Matthew Hassan.
He says the current recovery in Australia's housing markets has been "slow to form and despite a quickening in early 2013 remains uneven across segments and states".
"We expect more of the of the same going forward.
"Price expectations suggest current positive momentum is well-entrenched but ‘consumer caution’ and a reluctance on the part of buyers to stretch themselves financially will remain a major ongoing restraint.
"Concerns around job security remain high and although lower interest are easing pressures on existing borrowers and improving affordability for those looking to enter the market, the mining investment downturn and associated labour market weakness will continue to inhibit buyers," says Hassan.
He expects wide divergence in property market performance across capital cities "with a variety of state-specific forces at work". 
"Sydney and Perth are expected to lead the way initially but with activity likely to wane in the west as the mining downturn gathers momentum.
"'Supply' factors are expected to be become more of a drag in Melbourne, but are expected to diminish in Brisbane where rental markets have already tightened up rapidly.
"Dwelling construction will also be uneven with solid but unspectacular growth forecast nationally – an 8.9% over the two years to the end of 2014," he says.
"Sydney and Perth will continue to lead the way although the mining slowdown and a stretched starting point for affordability are expected to become more of a constraint in the west," he says.
"Despite the solid start to 2013, the Melbourne market will tend to under-perform, particularly as a large pipeline of dwellings currently under construction comes onto the market (including 20,000 units approved for inner Melbourne over the last 2yrs).
"Brisbane, which has been the weakest market over the last 3yrs, is expected to remain soft near term but improve a little in 2014.
He expects lower interest rates to take the pressure off Queensland's weakest sub-markets - the Gold Coast and Brisbane’s southern fringes.
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Uneven housing market recovery to slow down from 5% rise in 2013 to 3.5% in 2014 with Perth and Sydney strongest: Westpac's Matthew Hassan

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A Malaysian-investor has paid $6 million for a car park on Flinders Lane in the Melbourne CBD.
There were 14 separate offers to purchase lodged at the close of the expressions of interest campaign with the sales price well in excess of the vendor’s expectations.
The sale on a yield of 6.4% comes soon after the Victorian state government announced it would <a href="https://www.propertyobserver.com.au/victoria/melbourne-cbd-drivers-hit-with-parking-levy-increase/2013042960816" target="_blank">significantly expand and increase its levy on car parks in Melbourne’s CBD.</a>
The levy has increased 37% from $950 per year to $1300 per year and will now include short-term parking-bays for the first time.
The costs are expected to be passed on to car park users, equating to around $1 per day extra per car space.
The car park at  the base of the Katherine Square office building at 517-537 Flinders Lane comprises  106 bays on 99 individual titles and is managed by Wilson Parking on a lease term expiring in May 2014.
It brings in net income of around $385,667 per annum.
The sale price equates to $56,600 per car space.
The sale was negotiated by Clinton Baxter and Nick Peden from Savills, who said the property attracted "exceptionally strong interest from numerous local, interstate, and offshore investors, with many competitive offers being received".
Baxter said the 6.4% yield was a record for the Melbourne CBD.
The vendor was a local investor.
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Melbourne car park sells to Malaysian investor on record 6.4% yield

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GPT has confirmed the sale of its 50% interest in the Erina Fair shopping centre, on the NSW Central Coast, for $397.1 million.
Previous media reports had named the buyer as <a href="https://www.propertyobserver.com.au/retail/south-korean-pension-fund-set-to-acquire-gpt-s-half-of-erina-fair-mall-for-%24400-million/2013051561394" target="_blank">the National Pension Service of South Korea</a>.
GPT did not name the buyer saying only that it sold to a client of Lend Lease Investment Management, a Singapore-based division of the property development giant.
The sale was negotiated by Simon Rooney of Jones Lang LaSalle, who said the sale "reflects a current situation of deep, liquid capital markets - backed by swelling demand from various domestic wholesale and superannuation investors, together with offshore pension and sovereign wealth funds - as they continue to up-weight their exposure to core, direct real estate in Australia". 
"Since the start of 2011, these investors have acquired $5.7 billion worth of part interests in major retail assets at or above book value.
"A-REITs have been the primary driver on the sell side – as they implement the strategy of selling down part shares in major assets while retaining management and development control, in order to redeploy capital into their development pipelines and subsequently, drive the return on their equity invested," Rooney says.
Lend Lease Investment Management has a portfolio under management of around $13.2 billion comprising property assets across unlisted funds, joint ventures and separate mandates in Asia, Australia and Europe.
Australian Prime Property Fund – Retail, a Lend Lease unlisted wholesale fund, owns the remaining 50%, with the mall managed by Lend Lease. CEO and managing director Michael Cameron said GPT had capitalised on the strong interest from domestic and overseas investors in quality Australian property assets. “This solid demand has allowed GPT to realise the value of this asset and continue to progress its strategy to move to a more balanced portfolio weighting,” Mr Cameron said. “In the past year we have effectively executed this remixing strategy moving retail from 61% of the portfolio to 54%, inclusive of this latest transaction. We continue to investigate further opportunities for investment in Office and Logistics &amp; Business Parks,” he said. 
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GPT confirms sale of half stake in Erina Fair shopping centre to Asian interests for $397.1 million

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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