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Prominent Melbourne law firm Slater and Gordon has cut its conveyancing fees for Victorian first-home buyers rushing to buy an existing home before the $7,000 grant for existing homes ends on June 30.
The firm’s standard conveyancing fee is $695, meaning eligible first-home buyers will receive a $347.50 discount if they buy a home before July 1.
From July 1, the government will provide a $10,000 incentive but only for those first-home buyers purchasing a new home.
All first-home buyers can also access a 40% stamp duty discount.
Adam Zuchowski, a Melbourne-based lawyer with Slater &amp; Gordon Conveyancing, predicted increased activity at the entry level of the property market.
“We have experienced a significant increase in conveyancing files since the [May 7] announcement was made,” he said.
Zuchowski said most first-home buyers were buying existing dwellings.
“Clearly there is a benefit for those first-home buyers who are able to negotiate a purchase prior to July 1 and I anticipate there will be a significant number of Victorians who will be wanting to take advantage of that,” he said.
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Slater and Gordon cut conveyancing fees to Victorian FHBs facing grant deadline

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All seven hardware store premises listed for sale in Sydney and Melbourne Burgess Rawson portfolio auctions have sold to investors with yields ranging from 5.79% to 10.28%.
Six of the seven stores are Home Timber and Hardware, 67% owned by Woolworths and 33% by US-based Lowes - the same partnership that owns the Masters business - and one was the Bunnings (pictured below) in Warragul, Victoria.
{yoogallery src=[images/stories/2013/05/may17bunnings]}
The successful sales under the hammer comes as demand rises among private investors for commercial property assets with strong lease covenants.
Total enquires for the Melbourne portfolio exceeded 650 for the first time ever for a Burgess Rawson portfolio auction.
Burgess Rawson’s previous best was 641 in April 2009 where five more properties were offered than this 14 property campaign.
The top price paid under the hammer was $4.63 million on a yield of 8.54% for the Bunnings in Warragul, a regional town 104 kilometres southeast of Melbourne.
It was bought by a Brisbane-based investor, who had missed out on previous Bunnings properties.
Burgess Rawson director Billy Holderhead said Bunnings assets were always “really popular” among investors both in upturns and downturns.
“Masters has made it a much competitive environment for Bunnings, rents have increased fairly significantly.
“In some situations leases have been renegotiated to be a little more landlord friendly,” he told Property Observer.
The Warragul Bunnings is at 10 June Court with a lease running until 2022 with two renewal options of five year's each.
It brings in annual rent of around $395,992.
The modern 5,094 square metre building includes a drive through plus nursery and secured yard on a 10,510 square metre site.
The vendor was a Bunnings private syndicate.
The highest yield of 10.28% was achieved for the Home Timber &amp; Hardware store in the Tasmanian port town of George Town, on a brand new seven year lease with 21 years of renewal options.
The two level store has 1,070 square metres of retail space on a 1,777 square metre site with further development potential.
The stores sold for $458,000 below pre-auction expectations of around $500,000 plus.
 
<hr class="system-pagebreak">
Another Tasmanian store, the Becks Timber &amp; Hardware premises at Shearwater sold for $890,000 on a yield of 8.66%.
Holderhead said the yield would have been above 10% when the business was privately owned. It forms part of the Woolworths/ Lowes enterprise with a brand new seven year lease with multiple renewal options and a new lease  of $71,000 net per annum.
Shearwater is a popular holiday destination 17kms from Devonport and one of Tasmania's fastest growing towns.
A third Tasmanian hardware store – Becks Timber &amp; Hardware – sold for $890,000 on an 8.66% yield.
All three Tasmanians hardware stores were bought by Melbourne-based buyers, who bought them sight-unseen.
Holderhead says there were Tasmanian bidders, but they were unsuccessful.
The other hardware businesses to sell were the Home Timber and Hardware in Canberra, which sold for $4.57 million on a 7.68% yield, a Home, Timber and Hardware in Queanbeyan, NSW which sold for $3.275 million on a yield of 7.79% and the Home, Timber and Hardware in Footscray which sold for $3.11 million on a 5.79% yield.
In addition, the Port Adelaide state office of hardware chain John Danks &amp; Son Pty Ltd, also tenanted as part of the Woolworths/Lowes partnership, sold for $712,000 on a yield of 8.01%.
In total 12 out of 14 properties in the portfolio auction sold under the hammer totalling $21,395,000 following Tuesdays seven property sell-out, bringing in $24,846,000.
In the Melbourne auction, the average premium on reserve expectations for the properties sold yesterday was 14% (or $1,913,000 overall), with three properties achieving 35% or more in excess of the vendor’s pass mark.
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Bunnings Warragul store snapped up by Brisbane investor for $4.6 million as Coles versus Woolies DIY battle pushes up rents

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Consumers in WA are being warned about free property investment seminars being offered by east coast “property investment spruikers” a day after ASIC banned a Melbourne-based property investment adviser, also calling him a “spruiker”.
With the ominous heading of “Beware property investment spruikers”, WA’s department of consumer protection is urging potential investors “who may be lured into attending so-called ‘free’ property investment and wealth creation seminars to carefully consider what’s being offered before signing any contracts”.
It follows officers from consumer protection attending a number of these seminars to gauge the content and message being presented to potential investors.
WA commissioner for consumer protection Anne Driscoll said seminar attendees were subject to “high pressure sales tactics that promote coaching and mentoring programs costing between three and ten thousand dollars".
East coast property investment spruikers most likely see WA, with its cashed-up beneficiaries of the money boom, as easy targets for their investment programs.
The WA warning comes a day after ASIC banned<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?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank"> Melbourne-based property investment adviser Matthew George, director of Money Choice</a> and labelled him a “spruiker” as part of its crackdown on advice in relation to self-managed super fund property investments.
Last month a letter obtained by the Australian Financial Review revealed that <a href="/news">four Melbourne businesses running seminars on investing in real estate through self-managed super fund</a>s are being investigated by ASIC over the potentially misleading nature of flyers, advertisements and online ads promoting these seminars.
Consumer protection officers have attended three separate seminars recently and report that all followed a similar formula:
<ul>
<li>The seminars were free to attend but were mainly a forum to sell expensive mentoring and coaching programs</li>
<li>Downplay the risks and costs involved in property investment</li>
<li>Claim to offer the secrets to financial success</li>
<li>Offer hints or teasers at the seminars, but participants had to pay for programs to get any further information</li>
<li>“Special” rates for the programs were offered if attendees signed up on the day</li>
</ul>
“The advertising of these seminars give the impression that those who attend simply receive free information about how to secure their financial future but, in fact, they are subjected to high pressure sales tactics that promote coaching and mentoring programs costing between three and ten thousand dollars ,” says Driscoll.
“The presentations highlighted the benefits of investing while downgrading the risks involved in securing the financial future of participants. They also appear to exaggerate the potential gains from property and other investments by following the promoter’s programs.
“The seminars appear to be just a clever sales tactic to get people into a room for many hours with the hope that they will sign up to expensive training courses, but very little information is offered for free. The question to ask is what would be the benefit to a promoter of holding a ‘free’ seminar if they didn’t sell something at the event.
“We believe some of the courses and programs on offer are just the next stage to get investors to make large financial investments that will be of benefit to the promoter, or simply a way to sell their coaching and mentoring packages.”
“I am concerned that the practice of offering special discounts to sign up on the day is designed to prevent the participants from having time to think carefully about their decisions and getting some independent professional advice,” the Commissioner said.
“We warn attendees to resist the pressure to sign any contracts or pay any fees when attending these events, without first getting proper independent advice from financial advisers and property investment professionals. Consumers should be wary about any ‘get rich quick’ claims being made.
“Consumer Protection has reviewed advertising material and seminar content and is preparing to issue substantiation notices to ensure promoters are able to justify the claims and representations that they make to members of the public.
“Promoters will be asked to justify their claims including the financial resources investors need to buy a property, the potential profit they could make within short periods of time and the substance of the course content.
“In certain instances, people may have rights to a 10 day cooling off period if they signed up for something they were not aware would be offered to them when agreeing to attend the seminar. If people believe they have been pressured into buying something under those circumstances, they can contact Consumer Protection to have their cases reviewed and to ascertain their rights.”
WA consumers with inquiries, concerns or complaints about property investment seminars can contact Consumer Protection on 1300 30 40 54 or email: <a href="mailto:consumer@commerce.wa.gov.au">consumer@commerce.wa.gov.au</a>.
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WA government warns consumers about east coast “property investment spruikers"

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The national residential vacancy rate lifted from 1.9% to 2% in April with all capital cities except for Darwin recording a rise in their vacancy rates, the latest SQM Research figures show. 
SQM Research managing director Louis Christopher says this is the first time that national vacancies have reached the 2% mark excluding seasonal months (December) since September 2009, “suggesting that the rental crisis is truly beginning to ease”. 
“While the rental market is unlikely to blow out to an oversupply situation in this cycle, we do believe an easing of what has been an extended period of tight conditions for tenants, will now come into existence. 
“It means rent rises which have been running at above inflation for the past five years now, will now slowdown to be more in line with CPI and indeed this is already occurring according to our newly released weekly rents index," he says. 
SQM Research records there were 56,973 properties available for rent across the eight capital cities in April compared with 52,931 in March and 50,884 in April last year. 
The vacancy rate lifted by 0.2 percentage points in Sydney from 1.5% to 1.7% with 9,631 rental properties available over April while Melbourne remains the most favourable capital city market for tenants with its vacancy rate rising from 2.6% to 2.7% with 11,609 properties for rent.
Click to enlarge
<a href="/images/stories/2013/05/sqmmay16one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/05/sqmmay16onethumb.gif"></a>
Key points:
<ul>
<li>Darwin has recorded the tightest vacancy rate of the capital cities, revealing a vacancy rate of 1.1% and a total of 272 vacancies.</li>
<li>Canberra has recorded the highest yearly increase in vacancies. Climbing 0.7% to 1.5% since the corresponding period of the previous year (April 2012) and coming to a total of 753 vacancies.</li>
<li>Hobart has recorded the largest yearly decrease in vacancies, falling by 0.3% to 2.5% since the corresponding period of the previous year (April 2012) and coming to a total of 699 vacancies.</li>
<li>Hobart has however, recorded the highest monthly increase in vacancies, rising by 0.5% during April 2013.</li>
</ul>
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.  
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Rental crisis easing as national residential vacancy rate rises to 2%: SQM

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Mortgage lender RAMS has cut its two-year fixed-rate home loan by 26 basis points to 4.99% as well as reduced its three, four and five-year fixed-rates as it recorded a rise in home loan enquiries from investors.
Its three-year fixed-rate home loan has been reduced by 20 basis points to 5.09%, its four-year fixed rate has been reduced by 25 basis points to 5.39% and its five-year fixed-rate by 24 basis points to 5.45%.
RAMS one-year fixed-rate home loan remains unchanged at 4.99%.
It passed on the full 25 basis points to variable rate borrowers following the May RBA cash rate cut with its lowest advertised variable rate offer being at 5.29%.
RAMS will also waive its $595 application fee and $275 settlement fee for any RAMS home loan "predominantly for investment purposes" for applications received until June 30 2013.
RAMS reported a 23% uplift in the volume of investor customer enquiries to their call centre and online in the first quarter of the 2013 calendar year compared to the same period in 2012 (January to March 2013 versus 2012). It follows the latest ABS housing finance data for March confirming investors are leading mortgage growth with a 21% increase in investment housing commitments over a 12-month period compared to owner occupied housing commitments at 12%.
Commenting on the rise in investor demand, RAMS chief executive, Melos Sulicich said historic low interest rates and greater competition in the home loans market were “creating opportunities for savvy investors to get into the property market”.
“It is encouraging to see property investment activity on the rise and early indications shows the investor market is set to lead the housing market uplift over the coming months,” he said.
Earlier this week, <a href="/news">Aussie Home Loan cut fixed-rates</a> on its Aussie-branded home loan with a 4.99% three-year fixed-rate offering.
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RAMS cuts two-year fixed-rates to 4.99% and waives investment home loan fees as investor demand rises

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Fast-expanding serviced apartment group Quest has listed its Sydney Olympic Park apartment hotel for sale seeking around $39 million.
The group is looking to free up cash to fund the development of more than a dozen new serviced apartment projects and tap into growing investor demand for Australian hotels and serviced apartments, particurlarly from Asian investors.
Total hotel sale activity for 2012 was in excess of $1.25 billion, an increase of 30% on the total value for 2011 and the strongest since 2007, according to Colliers International.
Asian-based funds accounted for more than 70% of all sales, with investors from Malaysia, Hong Kong and Singapore the most prevalent.
The largest hotel transaction to occur so far in 2013 is the sale of the 4.5 star Holiday Inn on Flinders in Melbourne, which sold to New Zealand based Priscilla David Ltd for $50 million. Going against the recent trend,  the hotel was sold by an Asian investor, Singapore-listed Lasseters International Holdings. 
Last year, the largest single hotel property sale was the purchase of the <a href="https://www.propertyobserver.com.au/leisure/sydney-shangri-la-hotel-sells-to-hong-kong-shangri-la-asia-group-for-record-%24352-million/2012062555249">Shangri-La Hotel in Sydney for $330 million </a>by Hong Kong based Shangri-La from the Government of Singapore Investment Corporation.
Should the sale of the Sydney Olympic Park hotel prove successful, Quest will look to sell a further $170 million worth of apartment hotels to fund $220 million of new Quest projects.
In February, Quest announced plans to build <a href="https://www.propertyobserver.com.au/commercial/quest-to-build-10-new-serviced-apartments-buildings-in-nsw-over-next-two-years/2013020659191">ten new apartment buildings in NSW by 2014</a> in addition to three new properties that will open in Queensland, one in outer Melbourne, one in regional Victoria and another in the Adelaide CBD this year.
The group currently has over 150 serviced apartment properties in Australia, New Zealand and Fiji, located in CBDs suburban and regional areas.
The Sydney Olympic Park property, featuring 140 studio, one, two and three-bedroom apartments, each with kitchen and laundry facilities as well as a café, gym, conference room and basement car park.
It is being sold by Mark Durran and Peter Harper of Jones Lang LaSalle.
It opened in October last year, built at a cost of $30 million with the aim of tapping into the growing Olympic Park business hub, which attracts around 10,000 employees a day.
The newness of the building means it is being offered “with substantial depreciation benefits”.
Meriton paid a <a target="_blank" href="https://www.meriton.com.au/blog/meriton-buys-olympic-park-site/">reported $22 million plus to buy a 15,000 square metre</a> site with plans for 300 apartments in Sydney’s Olympic Park in February this year.
Quest at Sydney Olympic Park is the only serviced apartment in the area.
Quest has a long-term lease over the property.
Earlier this month, Quest said it would target the growing number of extended-stay business travellers in Queensland, with five new properties across the state to open in the next 12 months.
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Quest lists Sydney Olympic Park serviced apartments as appetite for Australian hotels rises

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GPT looks to have found a buyer for its half share in the Erina Fair shopping centre on the Central Coast.
National Pension Service of South Korea has been named by both The Australian and Australian Financial Review as the likely buyer, though this has not yet been confirmed by ASX-listed GPT.
The shopping centre and commercial property landlord and manager was seek around $400 million for its half share in the 113,700-square-metre centre, which was valued at $392.9 million as of June last year and is the largest mall on the Central Coast.
The cash injection might help fund a higher offer for Australand – with negotiations between <a target="_blank" href="/news">Australand and GPT set to resume</a>.
GPT co-owns the mall with Lend Lease’s Australian Prime Property Fund Retail (APPRF). Lend Lease is the manager of the mall.
The sale is being handled by Simon Rooney of Jones Lang LaSalle.
It paid in excess of $80 million to acquire its half share of the mall in June 1992 from the Capita Statutory Fund and has been refurbished twice – in 2003 and 2009.
It reportedly put up its half-share for sale in February, though it has not publicly stated its intention to sell the mall.
However, in June last year, GPT revealed plans to “reweight the retail portfolio to 50% and increase the weighting in office and logistics &amp; business parks to 35% and 15% respectively".
GPT sold stakes in two Brisbane Homemaker centres – bulky good stores – at Jindalee and Aspley in January for $91.7 million and has also sold half-stakes in malls in Canberra and Darwin.
The Korean pension fund investment is part of a wave Asian institutions buying up Australian malls, hotels and office spaces, including <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/singapore-s-bright-ruby-seeks-out-more-sydney-office-acquistions/2013022059457">Singapore-based investment house Bright Ruby</a> and Chinese conglomerate HNA Group, which paid $117 million for 1 York Street from Colonial First State in 2011 in the Sydney CBD.
Recent smaller deals include a Gold Coast-based Singaporean investor buying the Harbour Town shopping centre at Biggera Waters for $10.3m in a deal negotiated by Colliers International.
In its latest retail market update, Jones Lang LaSalle’s head of retail Tony Doherty painted a mixed picture for the sector.
“While there has been a modest recovery in underlying retail spending, and some reasonably positive signs for the short term outlook, market rents continue to remain under downward pressure,” he said.
He also highlighted a growing trend of capital partnering to unlock funds for future development following Coles and property superannuation fund ISPT announced a joint venture transaction, involving the sale of a 75%t interest in an initial portfolio of 19 Coles-owned shopping centres across Australia valued at $532 million, delivering proceeds to Wesfarmers of approximately $400 million.
The portfolio included 18 neighbourhood shopping centres and one sub-regional.
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South Korean pension fund set to acquire GPT's half of Erina Fair mall for $400 million

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'Barefoot' investment adviser Scott Pape has slammed the government for not having the “ticker” to remove negative gearing in his latest newsletter following the federal budget announcement.
“Our 1.25 million loss making landlords cost taxpayers $5 billion a year - a significant saving when the budget is in deficit of $18 billion,” writes Pape.
“And all it achieves is to make it harder for young people to compete to buy their first family home.
“Sadly, the government didn't have the ticker to abolish it this year."
Pape bills himself as "Australia’s favourite money guy", but his views on negative gearing won’t be popular among the 1.2 million property investors who claimed losses on their investment properties for the 2010-11 tax year.
The recently published <a href="https://www.propertyobserver.com.au/landlords/two-thirds-of-property-investments-negatively-geared-ato-figures/2013043060891">ATO annual report</a> revealed that around two-thirds of 1,811,174 property investors - 1,213,597 taxpayers – claimed losses on their investment properties for the 2010-11 tax year up from 1,110,290 who claimed losses in the 2009-10 tax year.
The average loss recorded for negatively-geared property investors was $10,947 in 2010-11, up from $9,132 in 2009-10.
The highest proportion of tax payers claiming rental deductions are those earning between $37,000 and $80,000 per year, making up more than a third of all negatively-geared property investors.
Pape has long been a critic of negative gearing calling for its banning on talk back radio in 2011 and telling a negatively-geared listener that “negative gearing is really just a socially acceptable way of saying ‘I’m losing money’”.
Pape has labelled it a “dud policy” despite admitting to having been a “big beneficiary of negative gearing over the years”.
“Contrary to real estate rhetoric, it does little to increase the supply of new homes, since the majority of investors buy established properties. What’s more, it costs the Australian taxpayer billions of dollars in forgone revenue,” he says.
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Government didn’t have the “ticker” to abolish negative gearing in budget: Scott Pape

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Property investors who use questionable tax avoidance schemes will come under more sophisticated levels of scrutiny following the Australian Tax Office (ATO) receiving an additional $77.8 million in federal budget funding over the next four years.
The extra funds are aimed at improving compliance among taxpayers by “expanding data matching with third party information”.
The ATO will use the funds to undertake compliance activity to target “known tax scheme designers, promoters, individuals and businesses who participate in such arrangements”.
“This measure will tackle the use of abusive trust schemes in the wider community and encourage active compliance by taxpayers,” says Treasury in its federal budget papers.
The money will be used to strengthen existing reporting systems for:
<ul>
<li>taxable government grants and specified other government payments;</li>
<li>sales of real property, shares (including options and warrants), and units in managed funds;</li>
<li>sales through merchant debit and credit services;</li>
<li>managed investment trust and partnership distributions, company dividend and interest payments; and Centre transactions reported to the ATO by the Australian transaction reports and analysis </li>
</ul>
The <a target="_blank" href="https://www.propertyobserver.com.au/tax/taxpayers-face-ato-data-matching-crackdown-over-residential-and-commercial-property-sales/2013032460054">ATO began using improved data-matching technology</a> earlier this year to closely scrutinise residential and commercial property sales to ensure tax payers paid the correct amount of tax.
Treasury estimates this technology has resulted in an estimated increase in tax receipts of $431.7 million with a projected gain to revenue of $610.2 million over the coming financial year.
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Property investors face greater ATO scrutiny following $78 million data-matching budget handout 

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The Melbourne CBD's last remaining heritage horse stables property has been sold to a Melbourne-based property developer for $8.5 million with plans for a $100 million apartment project.
The narrow 36-40 LaTrobe Street site, measuring 569 square metres, is the former premises of the Burton Livery and Bait Stables built in 1890, but more recently modified as offices, though still retaining its Victorian-era facade.
The site has a permit for an Elenberg Fraser-designed 35-level tower featuring 243 apartments (pictured below).
<img src="/images/stories/2013/05/latrobemay16one.jpg" width="400" height="828" alt="latrobemay16one">
The sale was negotiated by Fitzroys agents Charles Emmett and Rob Harrington in conjunction with Daniel Wolman and Matt Stagg from Colliers International.
The sale price reflected a sales rate of $8,500 per square metre.
The sale continues a recent trend of strong East End sale prices over the past month such as the former Cancer Council site (circa $16m) and Glass headquarters at 50 LaTrobe St (circa $4.6m).
A further three prime development sites in the Melbourne CBD have been listed for sale as part of a $76 million portfolio divestment by Melbourne private investor Jimmy Goh through Colliers International’s John Marasco and Matthew Stagg, in conjunction with CBRE’s Mark Wizel and Josh Rutman.
The prized asset is expected to be the 3,197 square metre LaTrobe Street site comprising a 689-bay 10 storey commercial car park operated by Wilson Parking directly opposite Melbourne Central, the CBD’s largest shopping centre.
There are two ground floor retail tenancies fronting LaTrobe Street and three fronting Little LaTrobe Street, with a combined net lettable area of 852 square metres.
It is expected to sell for in excess of $40 million.
“This property has substantial development upside. It has the potential to accommodate several major high-rise buildings as well as providing enormous scope for multi-level retail tenancies.  It will provide the successful buyer with an opportunity to create the Melbourne CBD’s next landmark building,” says Wizel.
“The East End of the CBD has proven to be a very popular precinct with residential apartment developers such as Chip Eng Seng who have recently sold out at 33M and PDG Corporation who are close to completing Abode,” said co-selling agent Daniel Wolman.
Recent sales in Melbourne’s ‘East End’ include the former Cancer Council site (circa $16m) and Glass headquarters at 50 LaTrobe Street (circa $4.6m).
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Heritage Melbourne office property and former CBD horse stables sells to local developer for $8.5 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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