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The WA government’s department of Consumer Protection has lodged a Supreme Court writ against the promoter of a rent-to-buy property scheme, alleging the company and its director misled consumers.
In its legal action against Presto Property Solutions Pty Ltd and director Rowan Amanda Lines, it alleges that a couple from Quinns Rock, who signed up as vendors under Presto’s rent-to-buy scheme returned from overseas almost a year later to discover the tenant/prospective buyer had sold their above-ground swimming pool, valued at more than $16,000.
It is also alleged that Lines purported to be the owner of the home when dealing with the tenant/prospective buyer, but at no stage did she own the property - she had only signed an option to purchase it.
The couple from the outer north suburb of Perth had dealt with Lines after they responded to a sign posted by Presto on a light pole with the slogan "we sell houses fast" near their home in July 2010
It is the <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/wa-consumer-protection-targets-rent-to-buy-property-scheme-that-took-david-beckham-jersey-in-lieu-of-deposit/2012101557170">third rent-to-buy scheme</a> which has been the subject of recent legal action by Consumer Protection.
Rent-to-buy schemes are targeted at people who don’t qualify for home loans. Buyers agree to pay rent to the seller in return for being able to purchase the property at a later date.
The commissioner for Consumer Protection is seeking injunctions against Presto Property Solutions Pty Ltd and director Rowan Amanda Lines restraining them from making false representations to both buyers and sellers involved in their scheme, in breach of the Australian Consumer Law.
“Ms Lines had later purported to be the owner of the home when dealing with the tenant/prospective buyer. At no stage did Ms Lines own the property, she had only signed an option to purchase it.
“The commissioner further alleges that Ms Lines and her company made similar false statements such as “no banks, rent and own” and “I buy houses fast” in a series of advertisements in the Quokka newspaper and Gumtree website,” said Consumer Protection.
Acting commissioner for Consumer Protection Gary Newcombe has urged consumers considering a rent-to-buy scheme to be extremely cautious.
“In this case, the Quinns Rock couple returned from overseas almost a year later to discover the tenant/prospective buyer had sold their above-ground swimming pool which had a replacement value of more than $16,000,” Newcombe said.
“This highlights the confusing nature of these agreements where the line between tenant and owner is blurred and the legal rights of all parties are unclear. There are many other risks that we are concerned about.
“Under these schemes, buyers who default on their tenancy agreement or can’t get finance to buy the property at the end of the option period are at risk of losing the money that was intended to go towards the purchase.
“We are also concerned that money paid by the buyer does not appear to go into a trust account and there is very little accountability of where the funds go or any system in place to keep track of the ongoing option payments.”
In October 2012, the Commissioner for Consumer Protection lodged a Supreme Court Writ seeking an injunction against another rent to buy property scheme, alleging that promoters Patricia Mirawati Susilo and Bryan Artawijaya Susilo of Applecross, engaged in misleading and deceptive conduct in breach of the Australian Consumer Law.
In August 2011, the Commissioner warned consumers about rent to buy property promoters No Loan Home Pty Ltd (trading as Perth’s Easyhomes WA), its sole Director Filip (Fil) Butkovic and employee Nikola (Nik) Butkovic.
In May 2012, the Supreme Court ruled the scheme was illegal because the promoters were not licensed real estate agents. The Court also ruled that the promoters had misled clients regarding the future value of the property, the potential equity that they are able to build up over a four to five year period and their ability to obtain finance at the end of this period.
Consumers who have concerns about a rent-to-buy property scheme should contact Consumer Protection on 1300 30 40 54 or email: <a href="mailto:consumer@commerce.wa.gov.au">consumer@commerce.wa.gov.au</a> for further information and advice.
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lschlesinger-FZcF9M3vE6

WA’s consumer protection takes legal against rent-to-buy property scheme after tenant sells portable swimming pool

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Lenders continue to cut their fixed rates with CUA today cutting its three-year fixed rate home loan to 5.25% per annum.
It follows fellow mutual lender <a href="/news">ME bank cutting its three-year fixed standard home loan rate to 4.99% </a>on both packaged and non-packaged loans earlier this week and <a href="/news">all the major banks</a> cutting their two-year fixed rates to 4.99%.





Jason Murray, CUA’s general manager, products &amp; marketing, points out that the three-year fixed rate is 19 basis points lower than the average of the big four banks’ equivalent products, and with fixed rates the most popular option for term home loans, he recommends customers should seize the opportunity to benefit from the lower rates.





“Fixing a mortgage not only provides payment certainty over an extended period, but can also help to stabilise your monthly outgoings. While the Official Cash Rate is at the same low levels it was at the peak of the GFC, economists are seeing signs of an upturn in global economic conditions which suggests that rates may not go much lower, so now could be an ideal time to lock in your mortgage rate,” he says.
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CUA cuts three-year fixed rate to 5.25%

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The Reserve Bank has left the door open to further cash rate cuts if non-mining sector demand does not pick up, but believes it is now "prudent to sit still" with mortgage rates near historic lows and house prices rising since May last year.

“Overall, there is a good deal of interest rate stimulus in the pipeline. At its meeting earlier this month the Board judged that it was sensible to allow it time to do its work,” said RBA governor Glenn Stevens in his opening statement to the House of Representatives Standing Committee on Economics.
“The board believed that the inflation outlook, at least as we assess it at present, would provide scope to ease further, should that be necessary to support demand. But for now, the Board decided it was prudent to sit still.”
CommSec economist Savanth Sebastian said Stevens had delivered “his clearest statement yet that interest rates are on hold at least until mid-year and possibly even longer.
“There wasn’t anything that was overly new in the Reserve Bank Governor’s commentary compared with what was released a fortnight ago in the Monetary Policy Statement.
“Rather his comments today provided more clarity and reinforced our view that interest rates are solidly on hold in the near term – especially given that the “substantial” stimulus measures are having an impact on the economy,” said Sebastian.
In his statement today Stevens continued along the <a href="/news">theme of the February minutes</a>, where he reported a number of signs of improvement in the housing market. Stevens noted that the cash rate has been reduced six times over the past sixteen months, for a total decline of 175 basis points, with house prices rising since May 2012.
“Allowing for some change in the gap between the cash rate and other rates, lending rates nonetheless have fallen to be not far from their historic lows.
As a result, he said the share of household income devoted to interest payments has likewise “declined considerably”.
“Indeed housing ‘affordability’ as conventionally measured, for purchasers, has improved a lot over the past two years.
“That represents quite a substantial change in policy settings. It is having an effect. Housing prices have been rising since last May, having declined for a period prior to that,” he said.
Stevens also expects a strengthening in housing investment due to several factors, “interest rates are low, housing prices are tending to rise, gross rental yields have increased, population growth remains strong and is even picking up a little”.
However, he did express some concerns about the Australian economy as the mining investment peak draws nearer.
“Looking ahead, it appears that the peak in the level of resource sector investment is now close. It is a very high peak, but we do not think that there will be a rapid decline in the near term after the peak. However, it seems pretty clear that this type of investment will not be adding to demand for much longer.
“Investment spending by businesses in other sectors has thus far remained somewhat subdued in comparison. There are good reasons to expect it will strengthen in due course, but the available indicators at present do not suggest that is going to happen in the very near term,” he said.
Answering questions after making his statement, Stevens indicated “a bias to ease” and “an easing was more likely than a tightening" and also commented that the economy "entered a soft patch early in 2013".
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RBA ready to cut cash rate again if needed but for now it is "prudent to sit still": Glenn Stevens

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There was a 14% rise in new apartment sales on the Gold Coast over the December quarter led by 31 unconditional sales recorded at the Sirocco apartment project being developed by the Emandar Group.
Colliers Internatial records 160 sales across 37 projects over the December quarter of last year compared with 140 sales across 40 projects in the previous quarter.
Despite the improvement sales remain at historically low levels - the long-term average for apartment sales on the Gold Coast is around 300 unconditional sales per quarter.
The December quarter result continued a trend of rising sales and declining projects being marketed off-the-plan with Mistral at Harbour Quays, Kirra Wave at Bilinga and Surf 120 at Broadbeach all selling out over the quarter. 
Sirocco at Harbour Quays was the only new project launched over the quarter. 
Sirocco is being developed at Harbour Quays near Biggera Waters, about 15 minutes north of Surfers Paradise. 
The project features 40 apartments, half of which are two-bedroom apartments as well as one and three-bedroom apartments and four-bedroom villas. 
Project numbers on the Gold Coast have declined for eight consecutive quarters from just over 60 in December 2010 to just 37 in the December 2012 quarter. 
The current number of projects is the lowest number of projects being marketed at buyers in 12 years. 
There are around 1,000 apartments available for sale at the moment, which represents a 20 month supply pipeline at the current sales rate, and the lowest since figures were first recorded 30 years ago. 
However, given that sales numbers are trending up and only two new projects expected to be added over the first quarter of 2013, the supply pipeline should begin to shorten. 
The two new projects coming on board are – the third stage of Harbour Quays in Biggera Waters and Synergy at Broadbeach.
Gold Coast apartment market – sales over 2012
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="213">
QUARTER - 2012
</td>
<td valign="top" width="213">
NO. OF SALES
</td>
<td valign="top" width="213">
NO. OF PROJECTS
</td>
</tr>
<tr>
<td valign="top" width="213">
March
</td>
<td valign="top" width="213">
113
</td>
<td valign="top" width="213">
47
</td>
</tr>
<tr>
<td valign="top" width="213">
June
</td>
<td valign="top" width="213">
133
</td>
<td valign="top" width="213">
42
</td>
</tr>
<tr>
<td valign="top" width="213">
September
</td>
<td valign="top" width="213">
140
</td>
<td valign="top" width="213">
40
</td>
</tr>
<tr>
<td valign="top" width="213">
December
</td>
<td valign="top" width="213">
160
</td>
<td valign="top" width="213">
37
</td>
</tr>
</tbody></table>
 
Tony Holland, Colliers International Residential Director of Project Marketing says buyers of new apartments on the Gold Coast or Tweed Coast have much more limited options than they have in the past.” 
Holland says there is more confidence in the Gold Coast as a whole now and this year had started off exceptionally well.
“We can report anecdotally that both enquiry and more importantly sales have been strong this year, not only in the apartment market, but also in the land sales market,” he said.
“It’s still at low levels but we think that is ­probably being held back because of the lack of choice in the market," Holland told the Australian Financial Review.
According to Holland , buyers are perceiving that the new price levels represent good value.
A regional report released by RP Data this week reported that Gold Coast unit values are still down 19.5% from their peak with the only the fast north Queensland coast a worst performing market, with unit prices down 22% from its peak.
The only one major off-the-plan project launched over the December quarter was Amalgamated Property Group’s Synergy at Broadbeach with 130 apartments.
The Melbourne-based Pellicano Group also recently gained master planning approval for a 1650-dwelling proposal at the Zagame family’s Paradise Resort on the Gold Coast.
According to Lynda Campbell, Colliers International research manager, the best performing precinct across the Gold and Tweed Coasts in the new apartment market for the December quarter was the North Shore, which had 84 sales across nine projects. 
The Colliers International figures contrast starkly with November quarter figures reported by the <a href="https://www.propertyobserver.com.au/developments/heavily-discounted-hilton-surfers-paradise-the-only-notable-gold-coast-high-rise-seller-in-november-quarter-midwood/2012121958540" target="_blank">Midwood Report,</a> which recorded just 19 unconditional high-rise apartment sales over the November quarter, a 70% plunge from sales figure a year ago.
There are currently 247 apartments in the medium-rise sector available for sale and 758 in the high-rise sector, according to Colliers International.
Niecon's two-tower Oracle project on Broadbeach, currently in receivership, managed over 100 sales in 2012.
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Gold Coast new apartment sales rise 14% in December quarter as project numbers decline

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Sydney has ranked as the sixth most expensive place in the world to rent prime logistics warehouse space with Brisbane ranking eighth and Perth in 10th place. 
The rankings are based on equivalent US dollar per square foot comparisons with Tokyo ranking first (US$21.33 per square foot) just ahead of London (US$20.32 per square foot). 
The average cost per square metre for prime logistics space in Sydney is US$12.59 per square foot, $11.74 per square foot in Brisbane and $11.02 per square foot in Perth. 
Logistics space is generally purpose-built modern warehouse space that has been specifically developed for storage and distribution purposes and often built to meet the specifications of a certain company or industry. 
While they may be unglamorous, featureless buildings on the outskirts of the city, high yields and low vacancy rates among prime assets have made them a popular investment choice. 
This week ASX-listed commercial property group Dexus acquiring a large industrial property in Brisbane’s southwest for $21 million after a sales campaign that generated a higher than expected level of interest. 
The sale of 13,315 square metre industrial facility at 131 Mica Street in Carole Park, negotiated by Simon Beirne and Troy Whalan of Colliers International, following an expressions of interest campaign that eventuated in 11 offers. 
The vendor was Wesfarmers subsidiary J Blackwood &amp; Son Pty Ltd and the property was sold via a sale and leaseback, with Blackwoods taking on a 15-year lease for the facility plus options for a further ten years, assuring Blackwoods of continued access to this excellent location. 
Whalan said that last year was the best year on record for Colliers International in the industrial property market and 2013 is expected to be even better.
<img height="506" width="419" src="/images/stories/2013/feb_22/cbre_industrial.gif" alt="cbre_industrial">
[Correction to this table: The data for Perth should say "$114 psm pa"]
While occupier demand in Sydney remains cautious, the report highlights that a strong preference still exists for good quality, well-placed logistics space. With vacancy levels low for such stock, pre-commitment activity has been prevalent, helping to boost prime rents during the final quarter of 2012.
CBRE regional director of industrial &amp; logistics services, Joshua Charles, says the vacancy rate for existing A-grade faculties in the major Australian markets was the lowest it had been in a decade which was helping to support rental increases.
“Incentives on prime logistics facilities are now back to pre-GFC levels,” Charles says. 
“Many large retailers are re-organising their distribution networks to incorporate 40,000 square metre to 80,000 square metre ‘mother ship’ distributions hubs in each state which is helping drive new construction. In this environment, developable land has become highly sought after by industrial A-REITs, who are looking at opportunities to speculatively building warehouses to get their jump on competitors.” 
Charles forecasts additional – albeit slight – growth in rentals in 2013 and a further increase in speculative construction. 
“The high Australian dollar has increased the need for local warehousing as importers ramp up their buying and, by extension, their need for storage,” he says. 
However, he noted that e-tailing was not having the massive direct effect that many believed. 
“Instead, third party logistics groups are picking these up as additional contracts that require more storage space,” he says.
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Sydney, Brisbane and Perth among top 10 most expensive prime warehouse rental markets: CBRE

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Chinese real estate listings portal Juwai.com has extended its reach into Europe following the signing of a new agreement, which will potentially add thousands of new European property listings to the site.
Under the agreement, more than 200,000 real estate agents in 24 countries will be able to market their properties on Juwai.com, which promotes itself as the largest international property search and information platform for Mandarin-speaking Chinese consumers.
Chinese buyers make up the fastest-growing real estate buyer group in countries in Europe, Asia, the Americas, Africa, the Middle East and the Pacific. They spent US$28.7 billion on residential property around the world in 2011, a figure that is projected to climb to US$114 billion by 2015.
In addition to an affinity for Australian wineries, hotels, residential sites and houses and apartments, Chinese buyers also account for 54% of the total value of purchases in the prime central London area, with average prices of £5 million ($7.4 million).
They also bought more than 30 prestigious Bordeaux vineyards in just two years, and are the biggest foreign buyers in the central Paris, Ile-de-France area, with 16% of the market.
Juwai.com search figures show that European properties were viewed over 882,000 times by Chinese investors in January 2013.
Last year, <a target="_blank" href="/news">Australian real estate group LJ Hooker</a> started advertising its residential and commercial listings on Chinese real estate listings portal Juwai.com following the signing of a partnership agreement between the two organisations.
Around 84% of Juwai.com’s traffic is comprised of high-net-worth Chinese from within China and living in Hong Kong, Taiwan, Macau, Singapore, Malaysia and other countries.
Eric Calosci, chief executive of Previsite, says the partnership with Juwai.com will significantly increase an agent’s chance of selling their property more quickly and at a higher price.
“They will be able to tap a huge market with no learning curve,” he says.
Juwai.com co-founder Simon Henry says the pool of high-net-worth individuals in China will expand at a 20% compound annual growth rate over the next three years.
“One-third of Chinese millionaires have assets overseas.  They have a voracious appetite for overseas property investments.
“Moreover, Chinese consumers continue to flock to Juwai.com from all corners of the world, with more than 32% of all website visitors living outside of China.”
The site has also been adopted by global Chinese communities living in Hong Kong, Taiwan, Macau, Singapore and Malaysia, providing Juwai.com customers with comprehensive exposure within China and across south-east Asia.
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Chinese real estate listings portal Juwai.com expands European property coverage

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Investors who purchase Perth apartments or Perth properties priced under $500,000 have the best prospects for capital growth over 2013, says WBP Property Group CEO Greville Pabst.
Pabst expects these types of Perth properties to generate capital growth of between 5% and 10% over 2013.
However, the outlook is far from uniform across Perth with Pabst forecasting that Perth holiday homes could lose up to 5% of their value over 2013 with declines of up to 3% for residential development sites.
The outlook for Perth houses within 20 kilometres of the city is for capital growth of around 7% at best, but there could be no price appreciation for Perth houses over 2013.
Little if any gains are tipped for the Perth prestige market ($2 million plus).
The outlook in Sydney is strongest for established housing within 10 kilometres of the CBD (up to 5% growth) with small gains for established units (up to 2% growth), but the rest of the market is expected to struggle with Sydney holiday homes set to fall by as much as 10% in value.
The forecasts cover the key capital city markets of Sydney, Melbourne, Perth and Brisbane and recognise that "different markets [within a larger market] perform differently”.
The outlook is fairly consistent for Brisbane, with modest growth tipped across both houses, units, the holiday market, mortgage belt and even for the long-struggling residential development site sector.
House prices within 20 kilometres of the Brisbane CBD are forecast to grow by 5% or more.
In Melbourne the prospects are strongest for established house and units but weakest for holiday homes and development sites where values could fall by double digits.
Pabst says it’s important for buyers to recognise that “no two properties perform the same because no two properties are exactly the same.
“Size, suburb, street and lot location, orientation, condition and broader economic conditions underpin property performance on an individual level, and exercise significant influence on capital growth,” he says.
<img alt="wbpfeb22one" height="317" width="470" src="/images/stories/2013/02/wbpfeb22one.gif">
<img alt="wbpfeb22two" height="152" width="470" src="/images/stories/2013/02/wbpfeb22two.gif">
<img alt="wbpfeb22three" height="173" width="470" src="/images/stories/2013/02/wbpfeb22three.gif">
Note: The forecasts do not include analysis of off-the-plan properties and only include legitimate resales
Photo courtesy of Flickr.
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Perth apartments likely to be the standout performers for 2013: WBP 

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Mortgage Choice CEO Michael Russell says he is certain state governments are re-assessing their first-home buyer grant schemes following dramatic falls in their share of the mortgage market.
Russell quoted ABS figures showing that from July to December, the proportion of first-home buyers taking out home loans fell from 18.6% to 14.2%.
A year ago (December 2011) their share of the market 20.2%.
Russell told Property Observer this was a "significant deterioration" and an area of "genuine concern.
He says changes to first-home owner grant schemes are not having a "particularly favourable effect".
Last year the Queensland and NSW governments withdrew the $7,000 first-home owner grant and replaced it with a $15,000 grant but only for those who buy or build a new home.
Russell says Mortgage Choice believes that all first-home buyers should be entitled to the first-home buyer grant.
"The notion of not indexing it it does not make sense.
"It needs to be indexed.
"I am sure it is being assessed at the moment, there will need to be action," says Russell.
He added that he does not subscribe to the notion that the grant has an inflationary effect - the theory that the grant pushes up house prices so first-home buyer don't actually get any benefit.
In his presentation to media <a href="/news">following strong interim results</a>, Russell noted that there had also been a declining in those refinancing, despite "incredibly attractive competitive interest rate and removal of exit fees" with the percentage of mortgage holders refinancing falling from 19.3% to 17.7%.
The good news for the market, he said was a rise in the number of homeowners looking to upgrade, with loans from this sector rising from 35 to 38.5% and the return of investors coming with their share of the market rising in both percentage of loans  and value, up from 31.4% to 33%.
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State governments need to look at first-home buyer handouts: Mortgage Choice

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A former self-managed superannuation advisor has received concurrent suspended sentences of 18 months after advising his clients to buy shares he held in a commercial lending business.
Craig Gerard Dangar was yesterday sentenced in the NSW District Court, Downing Centre after pleading guilty to two charges brought by ASIC of obtaining financial advantage by deception.
Dangar pleaded guilty to obtaining a total financial advantage of $250,000 by recommending that two clients purchase a portion of his shares in Morris Finance Ltd, a Geelong-based commercial lender, and misrepresenting the true owner of the shares.  He also indicated to one of the clients that the shares were likely to increase in value. Charges were brought by ASIC following an investigation into Dangar’s conduct between January 2004 and September 2007 while he was employed to provide superannuation advice to trustees of self-managed superannuation funds, and compliance advice to accounting firms. ASIC commissioner Peter Kell said ASIC is focused on promoting the integrity of the self-managed super industry so that ultimately, consumers feel confident when dealing in this area. "This case is a reminder to industry participants in the self-managed super space that dishonest conduct will not be tolerated and can lead to criminal conviction," Mr Kell said. Mr Dangar will be sentenced separately on a related charge before the Downing Centre Local Court on 11 April 2013. The Commonwealth Director of Public Prosecutions is prosecuting this matter.
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SMSF adviser guilty of deceptive investment advice to clients

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Three small lenders led by Holiday Coast Credit Union have cut their variable rates outside of any cash rate cut by the Reserve Bank, according to mortgage comparison website RateCity.com.au. 
<a target="_blank" href="https://www.hccu.com.au/">Holiday Coast Credit Union</a>, which has 15 branches on the NSW Holiday Coast and in the Hunter region, cut several variable loans by 0.20 percentage points. 
It’s lowest variable rate offering is 5.62% offered on its capped home loan product. 
The two other lenders to cut their variable rates were BMC Mortgage, which cut several loans by 0.10 percentage points and IMB Building Society, which cut one home loan by 0.05 percentage points. 
According to RateCity.com.au, a 0.20 percentage point discount can make a big difference on home loan repayments. 
For instance, for a $300,000 home loan dropping from 5.9% to 5.7% could mean a saving of $456 per year or $13,680 over 30 years. 
RateCity.com.au expects more lenders to cut their variable rates. 
Michelle Hutchison, spokesperson for RateCity, sus it's the first time RateCity recorded three lenders cut variable home loan rates out-of-cycle. 
"While there have been several rate increases out-of-cycle, we've never seen lenders drop variable home loan rates while the cash rate remains stable. 
"Lenders have room to move after keeping on average 0.42 percentage points of the Reserve Bank’s 1.75 percentage point cut to the cash rate since November 2011 from variable home loan borrowers. 
“If these three lenders can afford to cut variable rates out-of-cycle, other lenders – including the major banks – have no excuse to sit on their hands,” she says.
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Three small lenders cut variable rates without RBA prompt: RateCity

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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