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The Greater Building Society has cut its variable mortgage rates by 30 basis points - 5 basis points more than the official RBA rate cut announced on  Tuesday.
It is the only lender to date to have announced it is passing on more than the 25 basis points cut from the cash rate.
The Greater’s standard variable home loan rate will fall to 5.75% p.a (comparison rate of 5.81%) and its basic variable home loan rate will fall to 5.40% (comparison rate of 5.45%).
The Greater’s packaged loan rate will fall to 5.19% (comparison rate 5.75%). 
The Newcastle-based building society has 250,000 members across 66 branches in NSW, southeast Queensland and in Townsville.
It's probably most famous for <a target="_blank" href="https://www.youtube.com/watch?v=2YkAPkGkVrA">convincing Jerry Seinfeld</a> to appear in its advertising campaign a few years ago.
The new rates are effective from today for new customers and from May 15 for existing customers. 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="215" valign="top">
 
</td>
<td width="198" valign="top">
Standard variable loan
(comparison rate)
</td>
<td width="208" valign="top">
Basic variable home loan
(comparison rate)
</td>
</tr>
<tr>
<td width="215" valign="top">
Greater Building Society
</td>
<td width="198" valign="top">
5.75% (5.81%)
</td>
<td width="208" valign="top">
5.40% (5.45%)
</td>
</tr>
<tr>
<td width="215" valign="top">
National Australia Bank
</td>
<td width="198" valign="top">
6.13% (6.22%)
</td>
<td width="208" valign="top">
5.92% (5.92%)
</td>
</tr>
<tr>
<td width="215" valign="top">
Commonwealth Bank
</td>
<td width="198" valign="top">
6.15% (6.29%)
</td>
<td width="208" valign="top">
5.69% (5.83%)
</td>
</tr>
<tr>
<td width="215" valign="top">
Westpac
</td>
<td width="198" valign="top">
6.26% (6.39%)
</td>
<td width="208" valign="top">
5.61% (5.66%)
</td>
</tr>
</tbody></table>
Customers on a 25 year standard variable or basic home loan of $300,000 will see their monthly repayments reduce by $55. 
CEO Don Magin said that under the new rates, a person switching a 25 year, $300,000 standard variable home loan from Westpac to The Greater will save $58,200 in interest and be able to pay their loan off 7.5 years sooner.
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lschlesinger-FZcF9M3vE6

Greater Building Society passes on 30 basis point rate cut to borrowers

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Paying too much for residential land is one of four lessons Mirvac has learned, says new boss Susan Lloyd-Hurwitz in its strategic review.
Lloyd-Hurwitz, who joined Mirvac in <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/incoming-mirvac-ceo-susan-lloyd-hurwitz-to-start-in-november-as-board-backs-chairman-james-mackenzie/2012091156515">November last year</a>, identifies the following as residential lesssons learned by the property developer:
<ul>
<li>Overpaying for acquisitions</li>
<li>Inappropriate deal structures</li>
<li>Creating too much higher end product in shallow markets</li>
<li>Proceeding to build for reasons unrelated to market fundamentals</li>
</ul>
The four lessons learned are included in a presentation slide which show that 51% of Mirvac's master-planned community projects are impaired with 31% of projects on the "urban edge" also impaired.
Just 12% of Mirvac's apartment projects are impaired while 20% of infill master-planned communities are impaired.
Mirvac has begun construction of its latest Docklands apartment project, Yarra's Edge with 54% of the apartments sold off-the-plan.
Settlements are scheduled in 2016.
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Paying too much for residential land among four lessons learned: Mirvac boss Susan Lloyd-Hurwitz

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NAB has picked up market share in the housing market while also reporting a rise in net interest margins on home loans and other personal banking products as it reported a $2.9 billion first-half interim profit for the six months to March 31.
The result was up 3% on the corresponding period last year and completes the major bank interim results reporting season after <a href="/news">ANZ </a>and <a href="/news">Westpac</a> both reported a 10% rise in interim profits for the six months to March last week.
The<a href="/news"> Commonwealth Bank </a>reported a 1% rise in its interim results to December 31 in February meaning the combined half-year profits of the big four banks is over $13 billion.
Commonwealth Bank, Westpac and NAB have all passed on the May rate cut in full with ANZ to make its announcement tomorrow.
NAB grew its home loan book by 5% over the reporting period from $139 billion to $147 billion.
Net interest margins in its personal banking division (mortgages, deposits, credit cards) increased by 15 basis points compared with the March 2012 corresponding period rising to 2.09%.
NAB’s share of the home loan market grew by 15% to 15.2% over the report period.
A year-and-half ago its share of the market was 14.5%.
There was a slight increase in mortgages more than 90 days in arrears up from 0.52% to 0.54% of total outstanding NAB mortgages.
Customer deposits picked up by 7.2% to reach $89 billion.
NAB CEO Cameron Clyne highlighted the “good result” in the personal banking division with further strengthening of the bank’s position in home lending and customer deposits on the back of its “differentiated customer proposition”.
He called it a “solid” March half-year result.
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NAB grows mortgage market share as interim profits rise to $2.9 billion

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The housing market will strengthen further - probably from 2014 - with gains of between 5% and 7% tipped by Australian Property Monitors’ (APM) chief economist Andrew Wilson.
However, Wilson is sticking with his recent 2013 forecast made at the start of the year of a 3% to 5% rise in house prices over 2013.
“I still think that’s the case, 5% to 7% is the next increment but I don’t think we will see that this year,” he told The Australian Financial Review.
RP Data-Rismark has dwelling values across the eight capital cities up 2.3% for the first four months of the year.
ABS preliminary figures for the March quarter recorded just a 0.1% gain in its capital city house price index - for detached houses only.
Wilson bases his higher post-2013 forecast on historical trends, where lower interest rates driving up house prices, but with a small time lag.
He also made the interesting observation that a rise in interest rates could have spurred on a “boost” in house prices in growing markets like Sydney, Perth and Darwin.
A rise in interest rates, he says, spurs on some people to act over fears rates will rise again.
Wilson wrote in the February APM housing market report that Australia’s housing markets started 2013 “encouragingly with solid indications of rising buyer activity and increased confidence from sellers”.
“The revival of Australia’s housing markets in 2012 has been confirmed as leading indicators such as auction clearance rates point to a market heating up.
“Australia’s housing markets are off and running in 2013, building on the buyer momentum generated through 2012 but now translating to more generalised and comprehensive market outcomes,” he said.
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House prices could rise up to 7% in 2014: APM’s Andrew Wilson

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Confidence about the housing market has surged to its highest level in almost three years, with nearly one in two Australians (49.8%) now expecting house prices to rise over the next quarter, according to the latest Home Finance Index commissioned by the Commonwealth Bank and the Mortgage and Finance Association of Australia (MFAA). 
This is the highest confidence level since the July 2010 survey when 52.2% of those surveyed expected house prices to rise over the following quarter and a substantial rise from the 28.9% who were optimistic in the September 2012 quarter and double the number in March 2012 (25%).
The results of the March 2013 survey, carried out by CoreData, are based on the sentiments of 1,361 home buyers and prospective home buyers. 
A high proportion of March 2013 respondents – 40.4% - expect no changes in house prices over the coming quarter, but just one in ten expect house prices to fall, the lowest percentage expecting a decline in prices since March 2010. 
Click to enlarge
<a href="/images/stories/2013/05/confidencemay9one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/05/confidencemay9onethumb.gif"></a>
Source: CoreData
Other findings of the survey also point to greater confidence about the housing market including that 83% of those surveyed who own homes believing now is a good time to buy an investment property compared with 78% in September 2012 and 74% in March 2012.
There was also a surge in the number of respondents who plan to change or upgrade their home. 
More than three-quarters (77.2%) of those respondents who owned a home said they planned to change or upgrade their home compared with less than two-thirds (62.4%) in the September 2012 survey and 67% in March 2012. 
Among prospective first-home buyers, 48.8% of believe now is a good time to buy compared with 42.2% in September 2012 with confidence rising strongly in NSW (from 40% to 50%), South Australia (40.6% to 51.9%) and to a lesser extent in Victoria (39% to 43.8%). 
More than three-quarters of borrowers (76.9%) said they were ahead of their mortgage repayments with only 16.5% saying they were struggling to make payments and 5% admitting to making late payments. Just 1% said they were more than a month behind in their mortgage repayments.
The rising confidence about the housing market came at the same time as people’s financial situations improved combined with a rise in the number of active buyers looking for a home loan over the next year. 
Nearly a third of respondents (30.8%) said their financial situation has improved over the last year – a rise of 14% over March, 2012. 
One in five (18.9%) said they were in the market for a home loan over the next year, up from 12.7% a year ago. 
Mortgage &amp; Finance Association of Australia chief executive officer Phil Naylor says the survey shows that the property market is “definitely recovering, with sentiment of both first home buyers and investors improving dramatically”. 
A similar sentiment is echoed by Kathy Cummings, head of third party banking at the Commonwealth Bank, who says the property market is all about confidence. 
She says the survey confirms that “good times are ahead, especially as interest rates continue to be at historic low levels, creating a situation where mortgage repayments are more affordable than rents in many areas”.
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Housing market confidence rises to highest since July 2010: CBA/MFAA index

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House prices rising unevenly, mortgage lending trending up among investors and upgraders but not among first-home buyers, building approvals volatile but trending down and the world economy slowing down with the euro zone facing unemployment strife.
The latest edition of the comprehensive RBA chart pack provides an indication of the range of different factors the monetary policy committee had to take into account when deciding to cut the cash rate to a historical low of 2.75%.
Of most interest to investors and homeowners will be the improving housing market picture with house prices trending up fairly strongly though unevenly in Sydney, Melbourne, Perth and Brisbane:
<img alt="rbahousepricesmay9one" height="379" width="470" src="/images/stories/2013/05/rbahousepricesmay9one.gif">
However, building approval figures, an indication of future demand for new homes and apartments, remain volatile with an overall downward trend in evidence, particurlarly in the key detached new housing market.
RBA governor Glenn Stevens reported only a “modest firming in dwelling investment” in his post-decision monetary policy statement on Tuesday:
<img alt="rbabuildingapprovalsmay9one" height="379" width="470" src="/images/stories/2013/05/rbabuildingapprovalsmay9one.gif">
However, the mortgage market appears to be picking up slowly, but not among the key first-home buyer market where changes to state incentives favouring new homes over existing homes appears to be having a dampening effect:
<img alt="rbaloanapprovalsmay9one" height="377" width="470" src="/images/stories/2013/05/rbaloanapprovalsmay9one.gif">
The pick-up in mortgage lending is being driven by low variable mortgage rates and the record low cash rate, though the graph below shows rates are still off their 2009 variable rate lows, a reflection of banks not passing on prior rate cuts in full:
<img src="/images/stories/2013/05/rbavariableratesmay9one.gif" width="470" height="396" alt="rbavariableratesmay9one">
With lenders continuing to cut their fixed-rate offerings to try and lock in more conservatively-minded borrowers, three-year fixed-rates are at historical lows as this graph shows:
<img src="/images/stories/2013/05/rbafixedratesmay9one.gif" width="470" height="392" alt="rbafixedratesmay9one">
The chart pack also shows that global conditions are declining with the world economy set to expand by just 3%, though conditions are better for Australia’s trading partners:
<img alt="rbaworldgdpmay9one" height="433" width="470" src="/images/stories/2013/05/rbaworldgdpmay9one.gif">
This graph shows the trend of rising unemployment in the eurozone, but employment conditions improving in the US and to a moderate extent, Japan.
<img alt="rbaunemploymentmay9one" height="383" width="470" src="/images/stories/2013/05/rbaunemploymentmay9one.gif">
Lastly, much of the commentary surrounding the decision to cut the cash rate has been about muting the effects of the high Australian dollar on exchange-rate dependent industries like retail, trade and manufacturing.
This graph shows the extent the currency has appreciated against the US dollar, Euro and Japanese Yen in recent years, though now off its peaks against the US dollar and euro:
<img alt="rbaexchangeratesmay9one" height="392" width="470" src="/images/stories/2013/05/rbaexchangeratesmay9one.gif">
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RBA paints mixed picture of local and global conditions, but with house prices and mortgage lending trending up

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A suitor has not emerged for Australand in the month since the property developer closed its data room, the Australian Financial Review has noted in its Street Talk column.
The data room refers to confidential information that is made available to selected interested parties, who may or may not make a bid for the Australand business.
Three weeks ago Australand boss Bob Johnston was talking of a deal being finalised within six weeks.
Australand rejected a $3 billion non-binding bid by GPT for its commercial and industrial property businesses – but not its residential property business - in December last year.
The last word on the bidding process was delivered by Australand chairman Oliver Lim and deputy CEO of Singapore-based CapitaLand, the 60% majority shareholder, on April 22 at the Australand AGM.
Lim noted at the AGM that Australand shares were trading at a signficant discount to their net asset backing making its 60% holding a potentially attractive investment option for a single institutional share trade.
He said "alternatives" to the GPT offer would be explored that may or may not result in a proposal for shareholders.
GPT was expected to make a higher offer for Australand in February after its annual results were published, but has yet to do so, perhaps caught up in resolving its <a target="_blank" href="/news">class action lawsuit with a group of investor</a>, only settled today with a $75 million conditional agreement.
A month before, in January, CapitaLand announced it would undertake a strategic review of its investment in Australand with a possible block sale of its shares one possibility.
The last official word on a better offer for Australand was delivered by GPT chief executive Michael Cameron, who said at the group’s annual results briefing that he wouldn’t be talking about Australand but that GPT was “committed to advancing a proposal that is in the best interests of Australand and GPT securityholders”.
Street Talk speculates that a block trade of CapitaLand’s stake would “test the market’s appetite for listed real estate”.
The Australand share price has been on an upwards trajectory since GPT’s failed December bid rising from around $2.85 to currently trade above $3.64.
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Bid trail for Australand goes cold as no fresh GPT offer emerges

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Anyone driving down the Chapel Street retail strip last week could have been forgiven for wondering if there was a run on the bank when a large crowd gathered outside the NAB branch.
In fact they'd gathered to attend an auction of the bank's premises.
Fitzroys agent Charles Emmett who alongside colleague David Bourke marketed the two-storey premise at 600 Chapel Street estimates a crowed of around 200 people gathered to watch the property sell under the hammer to a private Melbourne investor for $12.825 million.
<img alt="nabmay9one" height="312" width="470" src="/images/stories/2013/05/nabmay9one.jpg">
“A lot of people were behind the photographer,” he tells Property Observer.
“It was a very big crowd.”
There were close to 160 enquiries registered over the course of the auction campaign and six under-bidders on the day.
Emmett says the price achieved, representing a yield of 4.6%, was above expectations with the building bringing in total income of $591,686 per annum.
The premises have been occupied by NAB since 1951 and last sold for $3.59 million in 1997.
The sale price equates to a compound annual growth rate of around 8%.
The bank occupies the ground floor of the property on five-plus-five year lease currently returning $506,115 per annum plus GST.
The first floor comprises commercial offices and is leased to Jagen Pty Ltd on a four-year deal beginning February 2010, and returning $85,571 per annum plus GST.
Emmett says he has sold quite a few retail premises on prominent retail strips since the start of the year including in the CBD, in Armadale, Camberwell and Prahan.
“There has been a surge in demand for retail investment property,” he says.
“Demand for retail property within close proximity to South Yarra’s high density ‘Forrest Hill’ precinct is at an all-time high as investors seek to leverage their returns off the strong local population growth fuelled by the dozens of new apartment towers in the area,” he adds.
In September last year, a refurbished two-storey retail strip property in Sydney’s Hurstville leased to NAB sold for $9.01 million at auction on  yield of 5.85%.
Also in September last year, a historic Parramatta bank, tenanted by Westpac, <a target="_blank" href="https://www.propertyobserver.com.au/commercial/historic-parramatta-bank-sells-for-%2471-million/2012090956450">sold for $7.1 million to a Hong Kong-based investor.</a>
A more recent bank branch sale was the premises of an <a target="_blank" href="/news">ANZ bank branch in the Victorian heritage country town of Korumburra</a> in South East Gippsland has sold at auction today for $462,000.
It had pre-auction hopes of around $325,000 with bids starting $300,000.
There were around six bidders and the property sold on a yield of around 5.2%.
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NAB branch auction brings the crowds to Chapel Street and sells under the hammer for $12.825 million 

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Online mortgage lender loans.com.au is offering a variable home loan rate for new dwelling purchases of 4.75% after passing on the full RBA rate cut. 
The product is called a ‘Blackboard special” home loan, has a comparison rate of 4.77%, and is only available until May 20. 
Loans.com.au, the online arm of wholesale lender FirstMac, claims the 4.75% rate matches home loan rates in 1957. 
Loans.com.au is also offering a 4.87% refinancing rate (4.89% comparison rate) under its Dream Loan Express offer. 
Both products require a minimum 20% deposit.
It has also reduced its three-year fixed rate of 4.99% (4.91% comparison rate). 
Loans.com.au managing director Marie Mortimer said the new rates should make people consider whether they were paying too much for their home loans. 
“We have reduced home loan lending rates to the same levels as Australia in the late 1950s,” she said. 
She says many competitors had previously claimed to have broken the 5% barrier, only to be pushed back over 5% after comparison rates.
Comparison rates factor in fees and other costs into the home loan rate.
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Loans.com.au offers 4.75% limited-time variable rate offer after passing on full rate cut

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Mortgage lender RAMS will pass on the full 25 basis points to variable mortgage rate holders.
The lender's standard variable rate will reduce from 6.35% p.a. to 6.10% p.a. (comparison rate 6.17% p.a.) from May 13.
RAMS points out that this rate is lower than the big four banks - 16 points lower than Westpac's 6.26%, owner of RAMS.
“This latest interest rate reduction will bring further financial relief for many Australian mortgage holders who are concerned about uncertainty in the economy and fears of unemployment,” says RAMS chief executive, Melos Sulicich.
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RAMS passes on full rate cut to borrowers

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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