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Australia's biggest home loan provider Commonwealth Bank has joined NAB and ING Direct by passing on the full 25 basis point rate cut to borrowers. 
It announced its decision at 4pm, more than an hour after NAB and half an hour after ING Direct.
The new standard variable rate is 6.15% per annum effective from May 13. 
Matt Comyn, group executive retail banking services said: "The Commonwealth Bank believes that this is a balanced decision taking into account both domestic and offshore factors." 
The new variable home loan interest rates will be effective for new and existing customers 13 May 2013.
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lschlesinger-FZcF9M3vE6

Commmonwealth Bank passes on full rate cut to offer 6.15% standard variable rate

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UBank, the online offering from NAB, will offer eligible borrowers the opportunity to refinance their home loan at a discounted variable rate of 4.87%.
NAB announced today that it would cut its standard variable rate for the online-only UHomeLoan by 25 basis points.
UBank confirmed via Twitter that its current variable rate is dropping from "5.37%p.a by 0.25%p.a.
Eligible customers can receive an additional 0.25%p.a".
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/Ubank_tweet.jpg" alt="Ubank_tweet" width="500" height="64">
This would mean an online refinancing offer of 4.87%, by far the lowest variable offering of the major bank brands and one of the sharpest rates in the market.
The bank currently offers for a limited time a 5.12% variable home loan rate, which includes a 25 basis point upfront discount.
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UBank to offer 4.87% refinancing home loan rate from May 13

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<img src="/images/stories/2012/10/kflogo.jpg">
Knight Frank's Mathew Cassidy says he would invest a spare $750,000 in a couple of two-bedroom apartments in Brisbane’s CBD.
<img style="margin: 5px; float: left;" src="/images/stories/2013/03/mathewcassidy.png" width="228" height="225" alt="mathewcassidy">Agent: Mathew Cassidy

Position: Project marketing manager

Company: Knight Frank

Office location: Queensland

How long have you been in the industry?

I’ve been in the real estate industry for about 15 years, and I’ve specialized in development project marketing for the vast majority of the time. What’s happening in the area you specialise in?

Right now’s an exciting time, most developers have a really good handle on the realities of delivering projects effectively post GFC. It’s great to finally have a stable market. Personally, I love how creative we need to be in order to ensure developments sell fast and target every possible purchaser. In particular, Asia is doing very well at selling international projects within our network. Describe the most interesting property you have sold

For me that’d have to be The Oracle at Broadbeach on the Gold Coast. It’s an icon. The developer had incredible vision, fortitude and nous. I recommend anyone who visits the Gold Coast should stay and dine there, it’s sure to impress. What are the ingredients to being successful in your job?

The best advice I ever got was this, “If every single decision you make is designed to maximise the developer’s return on investment then you can always hold you head high.” Another important ingredient is to success is being aware of what you don’t know and have no qualms about admitting so. However, it’s important to know exactly who to contact to broaden your knowledge base. To simplify, always learn. Nobody knows it all, but it’s worth it to try. What aspects of your role do you enjoy the most?

I love the fact that every day poses its own individual challenges. I also very much enjoy the boardroom discussions in various locations around Australia. There’s some truly remarkable visionaries out there who show no fear and have adapted to the new world order in development very well. It’s humbling to sit in the same room as these people and hold deep, frank and honest discussions. Australia is in some good hands going forward in the development industry. Where would you invest a spare $750,000?

Simple, I’d buy two two-bedroom apartments in Brisbane’s CBD. I would make sure they both had two car spaces and were unique in some way such as large balconies, river views, storage. I think Brisbane is amazing for buying right now with rent remaining solid and space in the CBD at a premium. Which football team do you support?

Depends on the code. Hawthorn for AFL and the Titans for NRL What’s your favourite app or techno gadget?

My favourite app is Coastalwatch Lite. I relax by chasing any swell event and surfing it. This app gives me 5 day forecasts, current photos of most places in Australia, live wind and swell information.
How do you use social media?

In my professional life, I use social media for every area and constantly looking for ways to use it to maximise sales, reporting and mapping of market trends. </body></html>

In profile: Knight Frank's Queensland project marketing manager Mathew Cassidy

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The big four banks have held back 20% of the Reserve Bank’s rate cuts since May 2012 but have no excuses not to pass on today’s 25 basis point rate cut in full, according to mortgage comparison website Mozo.com.au

Prior to today's announcement, Mozo points out that the average big four bank standard variable home loan rate has fallen just 0.98% against the RBA's 1.25% cut over the last 12 months.

This has cost the average borrower with a $330,000 home loan $635 in missed savings over this period.

The Big Four standard variable rate of 6.42% - now 6.36% after<a target="_blank" href="/news"> NAB cut its standard variable rate to 6.13%</a> - is 39 basis points higher than the market average standard variable rate of 6.03%.

Mozo managing director Rohan Gamble believes the major banks are out of excuses to explain the gap.

“With the banks reporting bumper profits this month and wholesale funding costs back to pre-GFC levels, the Big Four have run out of excuses for not passing through the full rate cut to borrowers," Rohan says.

“Holding back on rate cuts now after announcing record profits would be monumentally hypocritical and a slap in the face for every long-suffering customer.

“I believe the banks will lose a lot of customers if they hold back on rate cuts this time. Home loan comparison is already going through the roof in 2013 as low interest rates stimulate borrowers to refinance to get the best possible rate, and competition from online lenders is absolutely booming.”


Currently the lowest variable home loan rate available to refinancers is 5.09%, so an RBA cut should allow borrowers to access variable rates below 5.00% from the most competitive lenders.

Fixed rates are also continuing to drop and Rohan believes the fierce competition on the fixed rate front is far from over, with further cuts ahead.

"It's not unlikely that fixed rate mortgages could drop another 0.25% over the next few months, so they may not have bottomed as many people thought. When the banks talk of moving fixed rate mortgage rates down they suggest they expect another rate cut," Rohan says.

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Major banks have "no excuses" but to pass on rate cut in full: Mozo

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National Australia Bank today announced it would cut its standard variable home loan rate by 0.25%p.a. to 6.13%p.a. 
It took just 15 minutes for the bank to announce its decision in comparison with previous decisions which have taken days.
The new rate is effective from Monday 13 May.
<img src="/images/stories/2013/05/nabnewratemay7one.jpg" width="470" height="159" alt="nabnewratemay7one">
NAB will also reduce its rate on standard variable business rate lending products by 0.25%p.a. UBank, backed by NAB, also announced it would cut its standard variable rate for the online-only UHomeLoan by 0.25%p.a.
The reduction saves customers $62.50 per month in interest on the average $300,000 home loan. Gavin Slater, group executive personal banking said NAB was committed to being competitive. “For 46 months NAB has had the lowest standard variable rate of the major banks. As a result, NAB customers on a typical mortgage have saved up to $2,060 in interest on NAB’s SVR compared to being on the SVR of the other major banks,” he said. “We recognise that certainty is important for our customers, which is why we are pleased to be able to quickly pass on a 25 basis point reduction.   “We have a strong track record of being competitive. We led the industry in abolishing the most complained about fees, we’ve made our credit card payments fairer and maintained the lowest standard variable rate of the majors for nearly four years.” 
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NAB passes on full rate cut to offer 6.13% standard variable rate

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There were only eight economists surveyed by Bloomberg, who correctly tipped the RBA to cut the cash rate to 2.75% today.
All the major bank economists and 17 other economists expected the RBA to hold firm.
These are the eight who got it right:
<img alt="bnpparibas" height="113" width="200" src="/images/stories/2013/05/bnpparibas.jpg">
BNP Paribas  - Dominic Bryant
<img alt="btfinancial" height="113" width="200" src="/images/stories/2013/05/btfinancial.jpg">
BT Financial Group - Chris Caton
<img alt="citi" height="113" width="200" src="/images/stories/2013/05/citi.jpg">
Citi - Joshua Williamson
<img alt="deutschebank" height="113" width="200" src="/images/stories/2013/05/deutschebank.jpg">
Deutsche Bank - Adam Boyton
<img alt="goldman-sachs" height="98" width="200" src="/images/stories/2013/05/goldman-sachs.jpg">
Goldman Sachs - Tim Toohey
<img alt="macquariebank" height="236" width="200" src="/images/stories/2013/05/macquariebank.jpg">
Macquarie Bank - Richard Gibbs
<img alt="marketeconomics" height="62" width="200" src="/images/stories/2013/05/marketeconomics.jpg">
Market Economics - Stephen Koukoulas
<img alt="qic" height="104" width="200" src="/images/stories/2013/05/qic.jpg">
QIC - Matthew Peter
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Caton, Gibbs and the Kouk - head the eight economists who got it right as the RBA cuts the May cash rate

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The Reserve Bank has cut the cash rate by 25 basis points to 2.75% today, the lowest setting for the benchmark rate in 53 years.
The previous lowest cash rate was <a target="_blank" href="/news">2.89% in January 1960</a> based on proxy historical RBA data going back to 1959. 
The cash rate is now lower than it was post-GFC, when the RBA took emergency steps to encourage borrowing and spending with big 100 basis point rate cuts.
Today, ABS preliminary data had capital city house prices up just 0.1% over the March quarter following a strong December quarter, revised up to a 2% gain. 
Yesterday, retail sales fell by an unexpected 0.4% over March after a 1.3% rise in February. 
The housing and retail sectors are two of the key non-mining sectors that the RBA will expect to pick up some of the slack from the resources investment approaching its peak. 
RP Data national research director Tim Lawless says while the RBA would be “reasonably comfortable with the pace of the housing market recovery” what may have been most concerning to the RBA is the “pace of dwelling construction and consumer appetite for newly constructed homes”. 
“Dwelling approvals and commencements remains weak and although new home sales have improved, according to the HIA, the number sold remains historically low. 
“If we are to see the construction sector pick up where the mining boom is leaving off, lower interest rates may be the catalyst that is required,” he said.
Alex Parsons, CEO of financial comparison website RateCity.com.au, says today’s cash rate drop is great news for variable borrowers if lenders pass on the full cut to their customers.
"With today’s cut making it the seventh since November 2011, variable rate borrowers, which are the majority of the home loan market, are paying much more interest compared to the cash rate.
"In fact, the gap between the benchmark standard variable rate – the average of the major four banks – and the cash rate has almost doubled (88 percent) over the past decade. The benchmark standard variable rate is currently 6.42 percent. While this is the lowest level since December 2009, it is still 3.42 percentage points above the cash rate and the biggest spread we’ve ever seen," he says.
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RBA cuts the cash rate to 53-year-low of 2.75%

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Established house prices, including those in Sydney, stagnated over the first three months of the year with just a 0.1% gain across the eight capital cities, according to preliminary estimates of the latest ABS house price indexes. 
The results show that established capital city housing markets are operating at different speeds with the strongest performers over the March quarter being Perth (+1.2%) and Darwin (+1.9%). 
"Clusters with median prices below $800,000 contributed most to the rise in the March quarter 2013," says the ABS of the Perth increase with the Darwin increase attributed to clusters with median prices below $600,000.
Sydney recorded no change in its established house price index, with small gains in Melbourne (+0.2%) and Canberra (+0.2%) over the quarter and small corrections in Brisbane (-0.3%), Adelaide (-0.1%) and Hobart (-0.3%). 
The ABS said clusters with median prices between $680,000 and $1,100,000 contributed most to the small rise in Melbourne house prices.
While of a preliminary nature and subject to revisions, the quarterly results may be factored into the RBA's decision on the cash rate, due to be announced at 2.30pm today.
Annually, house prices rose in Darwin (+8.0%), Perth (+6.1%), Sydney (+3.6%), Canberra (+1.5%), Brisbane (+1.4%), Melbourne (+1.1%) and Adelaide (+0.9%) and fell in Hobart (-1.9%).
The stagnation in house prices in the first three months of the year follow the ABS recording a revised 2% gain in its established house price index over the December quarter having previously reported a 1.6% gain in preliminary figures.
The positive movement in the December quarter 2012 was the result of rises in Sydney (+2.3%, unchanged), Melbourne (+1.8%, revised from +0.7%), Perth (+3.1%, revised from +2.9%), Brisbane (+1.0%, revised from +0.7%), Adelaide (+1.1%, revised from +0.8%), Canberra (+2.8%, revised from +2.1%) and Darwin (+3.0%, revised from +2.6%). This was partially offset by a fall in Hobart (-0.5%, revised from -1.4%).
The ABS figures contrast sharply with RP Data-Rismark figures, which recorded a 2.9% rise in detached house values across the combined capital cities over the March quater with Hobart the best performing capital city with a 6% gain and Adelaide the worst, falling 0.8%. 
RP Data had a cumulative capital gain in dwelling values in the year to March at 2.4% and up 4.7% since the market bottomed out in May last year.
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Established house prices stagnate in March quarter, but with good gains in Perth and Darwin: ABS

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Shopping centre landlord Federation Centres, <a href="https://www.propertyobserver.com.au/retail/centro-seeks-clean-break-with-the-past-with-name-change-to-federation-centres/2012120958372" target="_blank">previously called Centro Retail Australia</a>, has purchased the Centro Gympie shopping centre in Queensland for $64 million.
The mall was previously held by the Centro MCS 9 property investment syndicate. 
It is now wholly owned by Retail Direct Property, the direct property division of Federation Centres with its purchase part of ongoing plans to simplify the complex syndicate business it operated previously as the debt-laden Centro property group. 
Centro Gympie is located at the corner of Bruce Highway and Excelsior Road in Gympie.
It has a gross lettable area of 14,054 square metres and offers 752 car spaces. Big W and Woolworths are anchor tenants on the property. 
Gympie is a regional town in the Wide Bay-Burnett region of Queensland, Australia. It is about 160 kilometres north of Brisbane, and has a population of 18,602 according to the 2011 Census. 
Federation Centres reported an <a target="_blank" href="https://www.propertyobserver.com.au/retail/federation-centres-emerges-from-centro-with-stronger-balance-sheet-and-back-in-the-black/2013021959432">interim net profit $115.91 million for the six months to December 31</a> 2012 – its first complete first-half results under its new brand name. 
In the prior corresponding period, then known as Centro Retail Australia, it reported a loss of $100 million for the six months to December 2011. 
Federation Centres plans to buy other syndicated malls, spending $650 million on such acquisitions thus far. 
Other properties under the Centro MCS 9 syndicate which have been purchased by Federation Centres include Centro Dianella in Western Australia, which it bought for $54 million. 
Federation Centres also acquired full-ownership of the $570 million Bankstown shopping centre in NSW. 
Last month Goldman Sachs upgraded its recommendation on Federation Centres from ‘neutral’ to ‘buy’ with factors behind this upgrade including the ongoing simplification of its syndicates business, asset acquisitions, non-core asset disposals and the rollout of its $1.1bn development pipeline.
Federation Centres plans to develop 16 shopping centres over the next five years.
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Federation Centres buys Centro Gympie for $64 million

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The Reserve Bank of Australia should leave the cash rate unchanged at 3% today, according to 'shadow' RBA board members.
However, some of the nine shadow board members see evidence for lower rates now, and in the future while others believe the cash rate should rise.
The graph below shows that 60% of shadow RBA board preferences are for a 3% cash rate with over 20% preferring a cash rate of 2.75% and 10% a cash rate of 3.25%.
<img src="/images/stories/2013/05/shadowboardmay7one.gif" width="470" height="408" alt="shadowboardmay7one"> Source: <a href="https://theconversation.com/" target="_blank">The Conversation</a>
The board is comprised of economists and academics that meet under the banner of the Centre for Applied Macroeconomic Analysis (CAMA) at Australia National University and are asked to rank their preferences for the cash rate before every RBA monthly monetary policy meeting.
The consensus view on interest rates among the shadow board has been for a rate hold in March and April after a February view that the future direction of rates was up.
Shadow board member, HSBC Australia chief economist Paul Bloxham, is in favour of rates remaining on hold despite inflation being low enough to allow the RBA to cut rates further if needed.
He says rates are “already very low and there are signs that monetary policy is working”.
“Lower rates could also risk creating other problems, such as excessive growth in housing prices.
“While a further cut in rates could be needed to support growth at some point, I think there are enough signs that the setting of monetary policy is getting enough traction to warrant leaving the cash rate steady this month,” he says.
Shadow board member Mardi Dungey, professor at the University of Tasmania, says the weakening economy has caused her to lower her expectations of future inflationary pressures and hence alter her longer term projections.
“However, I recommend retaining the current stance in May,” she says.
Former RBA board member Warwick McKibbin and now shadow board member says “cutting interest rates in the face of rising inflation of goods and/or asset prices would undermine monetary credibility and risks unhinging inflationary expectations”.
“Holding interest rates is the least bad option in this complex environment.”
Shadow board member Bob Gregory gave an equal weighting to a rate cut and a rate hold, but did not provide commentary to his views.
The full shadow board is:
Paul Bloxham, Chief Economist (Australia &amp; New Zealand), HSBC Bank Australia Ltd
Mark Crosby, Dean of the Global MBA Program, Acting Dean of the Global BBA Program, and Professor of Economics, S P Jain Center of Management in Singapore
Mardi Dungey, Professor, University of Tasmania, CFAP University of Cambridge, CAMA
Saul Eslake, Chief Economist, Bank of America Merrill Lynch Australia
Bob Gregory, Professor Emeritus, RSE, ANU, Professorial Fellow, Centre for Strategic Economic Studies, Victoria University, Adjunct Professor, School of Economics &amp; Finance, Queensland University of Technology
Warwick McKibbin, Professor, RSE, ANU, CAMA
James Morley, Professor, University of New South Wales, CAMA
Jeffrey Sheen, Professor &amp; Head, Department of Economics, Macquarie University,Editor, The Economic Record, CAMA
Mark Thirlwell, Director, International Economy Program, Lowy Institute for International Policy
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Cash rate should remain on hold for now says shadow RBA board

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.

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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" />

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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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