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Approvals to build new houses and apartments fell 5.5% in March in seasonally-adjusted terms and 1.2% in trend terms.
Trend falls of 3.7% and 3.6%  were recorded in NSW and Victoria respectively, according to the ABS, which highlighted the trend figures as being less volatile than seasonally-adjusted numbers.
The fall in NSW approvals will be noted given the state has been incentivising the purchase of new homes with its $15,000 first-home buyer (FHB) grant since October 1 last year.
Victoria will introduce its $10,000 FHB for new homes only from July 1.
Private sector house approvals were up 0.4% to 7,586 dwellings with the more volatile unit approvals down 8.3% to 4,859 dwellings.
In trend terms approvals were down 1.2% with private sector house approvals up 0.2% and unit approvals down 3.1%.
The number of dwellings approved have fallen in the first 3 months of 2013, in trend terms, following a period of growth throughout 2012.
Westpac commented that dwelling approvals "continue to make a disconcertingly soft start to 2013" with the fall in March fall "against expectations of a modest 1.5% gain and suggests the recovery apparent through much 2012 has lost momentum".
Westpac notes the volatile nature of unit approvals, but estimates that 'low to mid rise units', which is less volatile than the 'high rise' sub-segment, has seen five consecutive monthly declines in approvals.
"That suggests the March decline is not simply due to volatility but reflects a broader loss of momentum."
The ABS dwelling approvals also decreased in March in Tasmania (-3.5%) but increased in Queensland (2.4%) which also has a $15,000 FHB new home grant, Western Australia (0.7%) and South Australia (0.2%) in trend terms. Dwelling approval trends have been rising for over a year in Western Australia (14 months) while falling for the last year (12 months) in Tasmania. In trend terms, approvals for private sector houses rose 0.2% in March, having been essentially stable since September last year.
Private sector house approvals rose in Western Australia (2.3%) and New South Wales (0.6%).
In New South Wales the trend has been rising since March last year (12 months).
Private sector house approvals trends fell in Victoria (-0.9%), South Australia (-0.7%) and Queensland (-0.7%). Only Queensland has maintained a fall over the last year (13 months). The trend value of total building approved rose modestly (0.1%) in March and has now risen for 14 months. The value of residential building fell 2.4% while non-residential building rose 3.6%.
The ABS says it focuses on movements in the trend "as seasonally adjusted month to month movements can be highly volatile and are not necessarily indicative of the underlying strength in approvals data":.
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Dwelling approvals "lose momentum" with surprise fall of 5.5% in March led by NSW and Victoria: ABS

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Economic columnist Stephen 'The Kouk" Koukoulas has tipped the RBA to cut the cash rate to 2.75% next week.
<img alt="kouk" src="/images/stories/2013/kouk.jpg" width="470" height="142">
He earlier tweeted that if the RBA was serious, it would cut by 50 basis points.
He said the RBA would not do so, but could could cut the cash rate twice by 25 basis points over the next few months.
He earlier tweeted about the 5.5% drop in building approvals in March, released by the ABS today, with the remark that "...and still some argue against a rate cut".
Koukoulas heads up Canberra-based Market Economic, which provide independent analysis of economic and market conditions.
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Stephen Koukoulas tips rate cut next week and another to come

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Mortgage broker AFG processed $3.2 billion in mortgages over April, 40% higher than the $2.2 billion in mortgages it wrote in April 2012 - and its best month on record.
This was just higher than its previous record-breaking month in March, when the broker arranged $3.17 billion in home loans.
The April 2013 results bucked the trend over the past three years, when April figures have been lower than in March, but this year’s surge bucked the trend.
AFG has 10% of the total mortgage market in Australia with its figures “usually indicative of the ABS housing finance report published six weeks later.
‘With greater certainty that low rates will be with us for some time, we’re seeing more confidence in the market than for some time,” says Mark Hewitt, general manager of sales and operations at AFG.
“But recovery, like property price growth, is very patchy.
“For example, in both NSW and Queensland first-home buyers comprise only 3.5% of the market – about a quarter of the long term figure.”
Overall, 12.4% of home loans in April were for first-home buyers with 35.9% issued to property investors and 35.6% refinanced home loans.
Fixed rate loans, already at an all-time AFG high of 29.6% in March, rose to a new record of 30.7% of all home loan types in April, as more borrowers choose to lock in historically low rates.
A report by Mortgage Choice recorded fixed-rate home loan demand rising to 28% in April, the highest level in five years.
Non-major bank lenders managed to claw back some market share, rising from 20.7% in March to 21.1% in April.
This figures is, however, still lower than previous months, and a peak of 24.0% in September 2012.
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AFG achieves highest ever monthly mortgage sales of $3.2 billion in April

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Centuria’s fast expanding property funds management business is targeting Asian investors looking to qualify for the $5 million significant investor visa (SIV) with all its unlisted property trusts now compliant with the program.
It comes as Centuria settled on its acquisition of the 17-level 175 Castlereagh tower from Stockland for $56 million and launched its latest single property syndicate for its 10 Spring Street acquisition.
ASX-listed Centuria, which plans to launch a listed property trust later this year headed by former Mirvac boss Nick Collishaw, bought the 10 Spring Street office tower from John Swire &amp; Sons for $91.6 million with its 10 Spring Street Fund offering investors a forecast distribution of 8%.
The 175 Castlereagh fund launched in February offering a return 9% in its first year growing to 9.25% in year two and closed oversubscribed.
Centuria entered into a conditional contract to acquire the building from Stockland in January and settled this week on an initial yield of 7.7%.
A brochure advertising the 10 Spring Street Fund, which has a minimum $100,000 requirement to be held for 5.5 years and closes on June 13, says it is a "complying investment for investors seeking nomination by the NSW State Government for a Significant Investor Visa (SIV)", which requires a minimum $5m investment.
Jason Huljich, CEO of Centuria Property Funds, tells Property Observer, in the last few months, there has been a noticeable increase in enquiries from investors with significant visa aspirations.
He explains that investors do not need to invest the entire $5 million in one hit, but can spread it around over a number of investments.
Investors cannot qualify for a visa by making a direct $5 million property investment but can invest in unlisted managed fund that holds Australian direct property assets.
“Many of the investors in our 175 Castlereagh fund were high net worth individuals who invested above the $100,000 minimum requirement,” Huljich says.
No SIVs have yet been issued by the Department of Immigration, but<a href="/news"> Property Observer reported last week</a> that 222 invitations had been issued to investors, 212 of them to Chinese investors.
Almost half (101) of these invitations are for applicants looking to invest in NSW, with 81 in Victoria and 29 in Queensland.
Commenting on the decision to buy 175 Castlereagh Street, Huljich said Centuria liked the mid-town location right next to the new 43 level ANZ building at 161 Castlereagh nearly completed by GPT, which is sparking a revival in what has been a somewhat unloved part of the Sydney CBD.
“It’s tidying up the area and also adding retail to the mix,” he says.
The building was valued at $53 million by Stockland last year covering 12,000 square metres of office space over 13 levels plus four levels of underground parking and ground floor retail.
”Stockland had spent a lot of money refurbishing 175 Castlereagh and it now has a NABERS Five Star energy rating," sasy Huljich.
The building is anchor tenanted by a number of NSW state government departments, which have just renewed their leases for three and four year terms, lifting the weighted average lease expiry (WALE) term from 1.4 years to in excess of three years.
The 2012 Stockland property portfolio review says the building brings in passing rent of $521 per square metre placing it in the mid-range of Stockland’s office portfolio.
Stockland has its headquarters just down the road at 133 Castlereagh and also owns 9 Castlereagh, the Harry Seidler designed 31 level A grade office tower, valued at $172.5 million.
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Centuria targets significant investor visa aspirants with Sydney office property syndicate investment opportunities

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Australia’s economy will stay soft for “another year or two” as the mining investment boom peaks and begins an orderly decline leaving the economy "with no clothes", says BIS Shrapnel chief economist Frank Gelber.
A turnaround, he writes in his weekly column in The Australian, will only occur when first residential and then non-mining business investment rises to stimulate the economy.
Gelber does not expect non-mining profits to pick up and add to budget revenue until the 2014-15 tax year.
As a result, he says, “the miracle economy" supported by "transitory" revenues from the mining sector "has no clothes” - a reference to the Hans Christian Andersen fairy tale, where an emperor is swindled into walking around in the nude, thinking the fine clothes he is wearing are "invisible to anyone who was either stupid or not fit for his position".
Everyone goes along with the charade out of fear until a small child points out the emperor has "nothing on".
In the context of his column, Gelber is pointing out an obvious truth about the economy that many continue to deny: that the mining boom investment miracle is at an end.
Gelber expects there will be no easy fix to the budget deficit, with whoever wins power in September unlikely to take the extremely unpopular decision of raising taxes to the extent of putting the government finances back in the black.
He says an expected budget deficit of around $10 billion will not be a problem in itself, but what will be an issue is a rising budget deficit with the government locked into further increases in expenditure in the future.
Gelber expects a combination of continued budget deficits, expenditure cuts and tax increases over the next election cycle.
In particular he expects significant cuts to infrastructure spending over the next few years as well as significant cuts to public service employment.
He also warns of the risk of a more significant fall in mining investment further down the track, but says Australia is safe “for another two to three years with projects already committed”.
“The question is about the next round of projects and work done in the second half of this decade,” he says.
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End of mining boom will leave Australian economy “with no clothes”: Frank Gelber

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Fixed-rate home loans accounted for more than a quarter of all successful home loan applications submitted by Mortgage Choice brokers on behalf of borrowers in April, the highest level in five years, led by a big rise in demand from NSW borrowers.
April figures show that 28.04% of all new Mortgage Choice-submitted home loans approved in April were on fixed rates, up from 27.58% in March and 18.41% in February, the highest level of interest in fixed rate loans since March 2008, when demand reached 34.87%.
In March 2008, the cash rate rose to 7.25% prompting many borrowers to fix, most disastrously, as the cash rate then tumbled to just 3% by April 2009 as the Reserve Bank took emergency measures to prop up borrowing and spending in the wake of the GFC.
However with the cash rate now near record lows at 3% and at most two more rate cuts pencilled by some economists (others like Michael Blythe at the Commonwealth Bank tip no more rate cuts), borrowers are unlikely to lose out to the same extent should the cash rate fall further.
The rise in demand for fixed-rate home loans comes as lenders continue to cut their fixed-rate offerings in an attempt to lock in customers.
Citibank was the most recent to do so with its two-year fixed falling to 4.89% this week while last week <a href="/news">NAB cut its five-year fixed rate home loan</a> to a twenty-year-low of 5.55%.
Demand for fixed-rates rose steeply in NSW by 7.94 percentage points to 32.45% of all home loans.
Demand for fixed-rate home loans fell 6.53 percentage points in Queensland, indicating perhaps less jittery borrowers, but it still remains the second most popular state for fixed-rates at 30%.
Victorian appetite for fixed-rates is weakest across the states with just over one in five borrowers (21%) willing to fix.
<img alt="ratesmay2onethumb" height="198" width="470" src="/images/stories/2013/05/ratesmay2onethumb.gif">
“With a number of lenders still offering highly competitive fixed rate loans, it is not surprising that borrowers have been taking advantage of the deals available and that the national percentage of fixed rate loan approvals has increased,” says Mortgage Choice spokesperson, Belinda Williamson.
“What came as a surprise was that the majority of states – Queensland, South Australia and Western Australia – saw demand for fixed rate loans fall, albeit slightly. With no obvious economic factors instigating the trend, it may be a sign of growing consumer confidence. Time will tell!”
Ongoing discount rate home loans, where the rate is discounted for the life of the loan usually in exchange for a monthly fee, rose to 38% of all home loans – the most popular product – followed by the standard variable home loan (14%) and no-frills basic variable (13%).
<img alt="ratesmay2twothumb" height="171" width="470" src="/images/stories/2013/05/ratesmay2twothumb.gif">
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Fixed-rate mortgage demand rises to highest level in five years led by NSW home buyers: Mortgage Choice

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The Dahlsen hardware family run by former BRW rich lister John Dahlsen  is selling its historic Ballarat hardware site after being muscled out by Coles-owned Bunnings and Woolworth’s fast expanding Masters DIY chain. 
The store on the site was run as Dahlsens Hardware by a local family for the past seven year but the site was previously home to the oldest hardware chain in Ballarat, Coltmans Mitre Ten, dating back to the gold rush, which was later sold to Dahlsens. 
<img src="/images/stories/2013/05/dahlsensmay2one.jpg" width="470" height="323" alt="dahlsensmay2one"> 
John Dahlsen, a fifth generation Dahlsen, is the chairman of the hardware chain started when John Christian Dahlsen opened of timber yard business in 1877 after travelling to Gippsland in search of gold. 
Of late it has been exiting from the retail side of the DIY market, unable to compete with the market power wielded by Coles and Woolworths. 
Last month, Dahlsen sold <a target="_blank" href="/news">hardware store premises in the Gippsland town of Sale</a>, leased by Bunnings, for $6.36 million to a Melbourne-based private family on a yield of 7.5%.
<img src="/images/stories/2013/05/dahlsensmay2two.jpg" width="470" height="274" alt="dahlsensmay2two">
Bunnings recently relocated from its original Wendouree premises to a new, 8,400 square metre purpose-built store in Creswick Road.
Woolworths in its joint enture with US home improvement chaing Lowe's plans to open a new Masters store at a site also in Wendouree. 
Last year, competition regulator the ACCC, blocked Woolworth’s attempt to acquire three hardware stores in Ballarat over concerns it would reduce competition in the local DIY market.
Market sources suggest Dahlsens expects around $7 million-plus for the 15,400 square metre site at 55-63 Albert Street, Sebastopol which incorporates 5,365 square metres of building space, 8,240 square metres of hardstand and a sealed car park for 125 cars. 
The sales campaign is being led by Colliers International agents Charles Kennedy, Andrew Lewis and Tom Noonan on behalf of the Dahlsen family. 
Noonan says strong interest is expected from major retailers looking to position themselves close to other strong national retailers including Woolworths and Aldi, as well as a number of development groups.
“Retail offerings of this scale are not common in regional markets such as Ballarat, and the recent portfolio sale of Shepparton CBD retail properties which included 16,766 square metres of additional zoned retail land to the Lascorp Development Group, showed the continued interest from Melbourne-based groups looking to capitalise on the significant growth prospect in Victoria regional areas,“ he said.
Charles Kennedy says the property is in a key location in a major Ballarat retail precinct, within a strong growth corridor and a strengthening commercial activity zone.
“Dahlsens have chosen to get out of retail/DIY hardware in this area and concentrate on operating on a trade-only basis, as a result the company’s large site in Ballarat’s Sebastopol area is now being offered for sale,” Kennedy says.
The property will be offered with vacant possession and will be sold by expressions of interest closing May 17.
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Coles vs Woolies DIY battle sees Dahlsens sell gold rush era hardware site in Ballarat

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Japanese retailing giant Daiso, having recently opened a new store in the Myer Centre in Brisbane, has leased 1,800 square metres of office space at Level 1, 2 Elizabeth Street, across from Flinders Street station for a new store.
The gift and homewares retailer, promising "everyday life solutions for one price of $2.80" and which has 3,200 shops in 25 countries, will convert office space to first floor retail with escalators from Flinders Street providing access to the store.
The rent has not been disclosed but Daiso will pay more than $200 per square metre over office rents.
The building, recently vacated by long-standing tenant the Commonwealth Bank is known as "Riverview House" and is owned by Fivex Commercial Property, which plans to redevelop it.
According to Fivex spokesperson Joshua Berger, Melbourne City Council plans to convert the Elizabeth Street block from Flinders Lane to Flinders Street to a pedestrian mall.
The planned conversion from office to retail comes as BIS Shrapnel forecasts the office vacancy rate in Melbourne to reach 10% by the end of the year, which could see other office landlords consider a similar strategy, if space remains vacant.
The lease was negotiated by Michael Di Carlo and Jeremy Marmur from Savills alongside Ben Tremellen, Colliers International retail leasing manager and , Tim Boyce, Daiso property executive, who said the owner has added significantly to the income and capital value of the property by undertaking the conversion.
"Traditionally, retailers have had a strong preference for ground floor shop fronts, but as vacancy across the Melbourne CBD remains tight I believe we will see an increase in what we call vertical retailing, particularly with big box international retailers,” said Tremellen. 
“At Colliers International, we are working with numerous landlords to activate multiple levels for retail use. This new Daiso store will be one of the largest Level 1 retail offerings in the Melbourne CBD when it opens later this year.
Daiso launched in Australia in 2010 with a store in Abbotsford and also has stores at Westfield Doncaster, Highpoint Shopping Centre and on Bourke Street in the Melbourne CBD.
Daiso’s Australian CEO, Kit Cheong – a former senior executive at the Coles Group and Pacific Brands – says there are plans for up to another dozen stores to open this calendar year along the east coast.
It sells everything from potholders to pencils, lollies and locks.
It has 2,500 stores in Japan with 500 in 25 countries.
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Japanese retailer Daiso to convert Elizabeth Street office space into shop after recent Brisbane opening

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Six shop premises in the maritime heritage Melbourne suburb of Williamstown have been listed for sale and may appeal to self-managed super fund (SMSF) property investors.
The shops stand at the corner of Stevedore Street and Douglas Parade in the heart of the Williamstown shopping precinct on the former site of the Burke &amp; Co Pty Ltd department store, which operated from 1926 until 2008.
Five out of the six shops are tenanted with one currently vacant and bring in annual rent of between $50,000 and $127,000. All leases contain relocation and redevelopment clauses.
They are being offered separately or as a whole with price expectations in excess of $7.5 million for all six.
Located at 66 Douglas Parade, <a href="https://www.commercialrealestate.com.au/property/2010370396/for-sale/vic/williamstown/retail" target="_blank">the six shops are</a>:
-          Lot 1 – Shop 1, leased to  Jas Stephens – 108 sqm, income of $86 ,614 plus GST
-          Lot 2 – Shop 2 – vacant – 106sqm
-          Lot 3 – Shop 3, leased to Hollywood Nails – 105sqm - income of $86,851 plus GST
-          Lot 4 – Shop 4, leased to Pressto – 87sqm - income of $64,258 plus GST
-          Lot S2 – Shop 5, leased to The Freedom Machine – 175sqm - income of $127,339 plus GST
-          Lot S2 – Shop 6, leased to  Lulu Katon – 69sqm - income of $50,000 plus GST
They are being sold via an expressions of interest campaign that closes on May 9 led by Fitzroys associate James Gregson
“The properties also offer significant multi-level development potential and strong future growth potential,” he said.
They are Zoned Business 1, but Gregson says they could be suited to alternative uses subject to council development approval.
Current projects in Williamstown include the development of the woollen mills on Nelson Place, comprising a number of residential towers up to twelve levels will add an additional 5,000 residents to the immediate vicinity once completed.
Recent retail property sales in Williamstown include a 225 square metre shopped tenanted by BWS Liquor until 2015, which sold for $1.7 million in May last year, a yield of around 7%.
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Six Williamstown shops listed on ‘Burke’s Corner’ and may appeal to SMSF investors

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Australia’s 1.76 million landlords claimed a total of $38.6 billion in tax deduction in the 2010-11 tax year, the latest ATO statistics show.
This equates to an average tax deduction of $23,000 per landlord.
The aggregate figure was an 18% increase on the $32.8 billion in tax deductions claimed in the 2009-10 year, where 1.7 million landlords claimed an average deduction of $19,000.
Deductions for interest paid on home loans was the greatest tax deduction claim rising from $18.4 billion in 2009-10 to $22.7 billion in 2010-11.
According to accountants DBA, landlords can claim interest on borrowings if the property was acquired for the purpose of producing assessable income, including interest paid in advance.
Landlords are also entitled to claim deductions for repairs and maintenance of their investment property, though not for capital expenses like alterations or additions.
The ATO figures show a small rise in capital works deductions from $1.7 billion to $1.9 billion.
Other rental deductions rose from $12.8 billion to $14 billion.
Other allowable rental deductions include borrowing expenses including legal costs, bank account costs, accountants and property consultant fees, insurance, property management costs, local council rates, water rates and usage, land tax, advertising for tenants and depreciation.
Around two-thirds of property investors have <a href="https://www.propertyobserver.com.au/landlords/two-thirds-of-property-investments-negatively-geared-ato-figures/2013043060891?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">negatively-geared property investments</a>, the ATO figures also show.
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Landlords tax deductions rise to $38.6 billion or $23,000 per tax return: ATO figures

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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