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I was recently asked to outline my thoughts on how the Australian urban landscape might look 40 to 50 years from now.  Go on, you can laugh.  I did too.  It’s hard enough to forecast the next 12 months, let alone two generations away, but I’ve given it a go, of sorts, so here it is.
Firstly, though, it might be best to outline my methodology.  In short, this forecast will be based on underlying trends, some understanding of human nature, and importantly, the Australian mindset.  My outlook is supported by evidence – what people actually do rather than say – and importantly, not by urban myths or fallacies, despite the frequency and noise with which they have been aired of late.  Unfortunately, we don’t have the space or the time here to support every claim or go into massive detail, so this discussion is confined to broad shapes – not nitty-gritty.
Australia's urban landscape can best be summed up in two words –diverse and dispersed.
Let’s deal with the second D – dispersion – first.  Our regional centres are likely to become a whole lot bigger and at the expense of the already crowded capital cities.  The move away from the world’s bigger cities is already underway, as evidenced in the recent census in the United States, but also throughout much of Europe.  Several Asian and Middle Eastern countries are now also following suit.  The annual ABS small-area population data suggests it is already happening here and the 2011 census, due later this year, I believe, will provide further evidence.
Within our capital cities themselves, the move downtown will slow – again, it already is doing so – as the cost to live within close proximity to the CBD is just too high compared with the real benefits.  The urban myths that perpetuate inner-city density over other housing forms – suburban growth worsens carbon emissions and traffic congestion; people are being forced to live far from jobs concentrated in our CBDs; and denser development will make it cheaper – are all incorrect, but more significantly, they are not being embraced by the wider market.
Instead of having a single high-density city core with lower development density radiating outwards, the most likely urban shape in the future will be one of more even distribution of housing density throughout the city – concentrated more, no doubt, around middle-ring transport hubs and new master-planned town centres.  Our middle-ring and outer suburbs will have much more compact urban settings.
Diversity relates to the housing stock itself.  The current push towards smaller dwellings has little to do with demographics and the market’s wants and is more about housing affordability.  Moreover, it really has to do with being able to flog cheaper stock quickly, often to an unsuspecting audience.  There is a demand for tightly sized product, but it is nowhere as near as high, nor is the long-term trend towards such as strong, as the urban boosters advocate.
Taking a wider view, Australia (and America too) is still in its frontier or “barbaric” stage of its cultural evolution.  We walk with wide gaits, worship most things large, and don’t really like crowded spaces or queues.  Go visit any major city in Europe or Asia for that matter and you can spot the Aussie (or Yank) a mile away.  We like our space, aren’t really ready to give it up, and are not likely to do so for many decades to come.
Rather than cling to the idea that density and concentration are best, all those planners, architects and developers out there might do better to focus on what appeals to the vast majority of the population, particularly the middle and working classes.  Nurturing smaller, more efficient cities, as well as expansive suburbs and revived small towns, may prove far more practical and beneficial than imposing a manic agenda for relentless centralisation.
For mine, rather than force a density agenda on a largely unwilling population, it makes sense to consider how to make a more dispersed (and diverse) urban future more workable and sustainable.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped more than 500 new residential developments come to fruition and writes the weekly  <a target="_blank" title="Matusik's Missive" href="https://matusikmissive.wordpress.com/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

Diversity far and wide is our housing future

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Stamp duty backflip
The Queensland government wins the Australian record for tax backflipping by reneging on a promise to do something serious about residential stamp duties. Instead, stamp duties on the primary place of residence will increase across all price groups from August 1. For many this will mean paying twice as much duty next time they buy a Queensland property. Agents expect fewer resales as a result.
Grants barely touch the sides
The Queensland Government has also announced a $10,000 grant to anyone who buys a new home under $600,000 for six months from August 1 this year. But unless these people are first-home buyers or investors they will be paying the additional stamp duty. Upgraders – who make up close to half of the market – are at best likely to break even if they buy a new home between now and January 31, 2012.
Buyers deferring contracts
In a related story, Queensland builders are reporting that buyers are cancelling and deferring contracts. But industry sources say that these buyers could be in for a rude shock, with cancelled contracts not eligible for the $10,000 grant if re-signed after August. In fact, all Queensland home owners – and especially those trying to sell – could be in for a rude shock come the 1st of August. A bigger shock awaits us all come February 1, 2012.
Meagre discount on developments
Meanwhile, every developer is trying to attract attention by offering, effectively, a 2% discount on the price of their new dwellings. Although the initial response has been encouraging, one wonders if it can last. As one property analyst, who wished to remain anonymous, quipped: “If Myer was having a 2% discount sale in about a month’s time, you won’t really plan your diary around that event. Even less so if it was going to now cost you twice as much to get to the sale. But if you had already made plans to buy something from a department store, you would most likely change your schedule and take the discount, little as it may be.”
Gold Coast in trouble
Just one in seven dwellings approved on the Gold Coast is actually being built. This is against a typical 75% completion rate. Yet Gold Coast mayor Ron Clarke denies that there is anything wrong, citing that net employment has increased on the Gold Coast over the last 12 months and claiming that winning the 2018 Commonwealth Games bid will fix any issues. That assumes that there is anyone left with a job on the Gold Coast in seven years’ time.
Incentives to sell well
But there is some good news. Real-estate agents will now be able to set their own fees when it comes to buying and selling Queensland property. Gone are the days of agents getting you the fastest price – a seller will soon be able to incentivise a real-estate agent to get the most for the property. Deregulation will essentially allow the market to determine price rather than the government, which is always a good thing.
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House building grinds to a halt on the Gold Coast

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It has been kind of fun sitting on the sidelines, watching the various residential property data houses bicker over who is correct, who got the biggest headline or the most media coverage. Heck, some even now boast about how much press they are getting. I thought having celebrity cooks was scraping the bottom of the barrel, but now we have big-shot economists and property commentators to boot. Is there no end to this celebrity cult?
Now let’s clear the air before I go much further.  Residential asking prices are falling. We stated they would and that they could fall by as much as 5% to 8% this calendar year, maybe more in Queensland. They might fall even further, but that is dependent on what happens with interest rates, employment, supply and confidence.  How baby boomers and recent first-home buyers act (and react) in the near future in also important. Assuming, and maybe it is a big assumption, that the worst doesn’t eventuate, the housing cycle will right itself and, over time, the declines in asking prices will be regained.
Note the emphasis on asking prices. Extremely few sellers are making an actual loss on their resale.  hey are getting more than they paid for it – in terms of purchase price and all hard costs. What is attracting all the media hype is the difference between what a vendor wants for a property (nearly always inflated, if you ask me) and what the market is prepared to pay. This happens in a buyer’s market, when the amount of property listed for sale is greater than the demand. It happens in every industry. Heck, I have never paid full price – outside of basic staples – for anything.
Property is an interesting investment class. Yes, I subscribe to the notion that housing should be a home first and a means of accumulating wealth second, but under Australia’s current taxation laws, it makes financial sense to try to maximise the capital growth of your home. Most do these days by renovating a home, living in it for a period time, and moving on – all of which is tax-free. But home owners only really like doing this when it’s a seller’s market. Statistically, this makes little sense at all.
When prices are rising, sellers will happily sell their home for more than they expect, only to buy in the same market and pay more (than the vendor expects) for someone else’s house.  Now most will sell and move because they want something better (or different) than what they have already. The data show that in a seller’s market most sellers will pay more for their next home than they actually made from the one they just sold. But I suppose they did have a “win” after all – i.e. they got more for their house than they expected.
Now, reverse the situation – a seller in a buyer’s market is reluctant to discount their home to the extent needed to make a relatively quick sale. (Remember, my friends, a successful real-estate agent gets the vendor a quick sale, not necessarily the highest price.) Doing such is perceived as a “loss” to the seller, though in most cases it actually isn’t a real loss at all. Yet in a buyer’s market it is in their best interest to sell quickly. Why? Because they will be buying in the same market, and the statistics show that if they discount appropriately and sell quickly, they can often gain more than they lost when buying again.
Most trade property way too late in the cycle. Now, despite what we hear, is a great time to upgrade. You might be surprised at how much you can actually save by doing so now.
Now back to our property celebs. If you are going to run these silly lists outlining the most discounted properties on the market, do some real homework first. And in particular, stop using these examples as the means to judge the overall health of a city or region’s housing market. The happenings on South Stradbroke Island or the listed price drops of a grossly overpriced bit of dirt wedged between a quarry, the M1 and a major arterial road have little relevance to what is happening across Brisbane or the Gold Coast.
If I wanted to get some media coverage on a “fringe” property, I, too, would milk the system in a similar way. You should be quarantining these listings as “out-of-line”. A serious analyst would.
Mainstream asking prices, by the way, are not being discounted by 30% to 50%. What is taking place are the usual price negotiations that occur during every buyer’s market phase of the property cycle.
How about you guys start using some real practical examples – pick some mainstream properties, with vendors who are realistic yet not distressed (as only a small percentage really are), and share with us your findings. In Brisbane you will find discounting of up to 10%, with many sellers having made up slightly more than they lost on their next purchase and, in real terms, very few being left out-of-pocket.
But that won’t get you much media coverage will it? Nor a gig on Channel 7’s Sunrise or the ABC’s Lateline Business. Let alone over a week as the top-billing article on Fairfax’s Domain.com.au.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a target="_blank" title="Matusik's Missive" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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Wisdom in selling in a buyer's market

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<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Interest rates didn’t rise yesterday, and no surprise there. Yet we keep hearing about how they will, inevitably, do so and in fact many, many times.  Will these desk-bound, Canberra-centric economists ever shut up? Maybe they should go outside for a while, leave the ACT for a bit and visit a few shops, speak to a small business owner or two or visit a Queensland construction site (if they could find one). They might discover the real world.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Although mining-related stuff is going great guns, the rest (and it is a very big rest) of us are not.  Technical recession or not (well, not yet, anyway – but the June quarter figures will leave no shadow of a doubt), we are facing some very tough economic times and an increase in interest rates any time soon will stuff things up big time.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">I was going to quote a baker’s dozen or so of statistics, highlighting our current economic woes, but to be honest I don’t have the strength nor do you want to keep hearing about them. “More sugar,” someone emailed me the other day, and “less lemon”. I am listening, but it is bloody hard at present. I do prefer a blue sky over cloud.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">This mining boom – let’s call it Mark II – is shaping up to be quite different from the first one. During the first leg of the mining boom (circa 2001 to 2008), our exports over imports (<em style="outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: italic; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px; border: 0px initial initial;">terms of trade for all you smarties out there) rose to the highest level since the early 1950s. Although a two-speed economy was evident then, the gap was perceived as less than today, due to limited government regulations, tax cuts and generous public handouts.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">After a GFC-induced pause during 2008-09, the mining boom is back and according to some, big time.  The terms of trade are up; unemployment (well as feebly measured by the ABS) is below 5%; apparently there are skilled labour shortages and almost all of the mainstream financial press are running headlines screaming BOOM!  But this time around it feels (heck….it is) different.  Why is this so?
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Firstly, house prices have hit an affordability wall.  With some good luck, it won’t turn into a collapse, but it has hit a serious barrier.  Time will fix the problem – as wage growth catches up with housing prices – but this will take years to resolve.  A dose of commonsense would do wonders.  A change in planning policy would see housing affordability fixed almost over night.   But there is a lot of inertia here, including in some of our biggest institutions (i.e. the banks).  So I suspect a slow deflate (in real terms) is on the cards for Aussie homes for some time to come.  Of course, there will be winners and losers as always is the case when an overall market type loses its pep.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Secondly, the Australian dollar is high and is likely to remain so.  Profits, for many private businesses, are already changing to losses.  High commodity prices and our high interest rates; against the world stage; are likely to ensure a strong Aussie dollar for some time to come.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Thirdly, policy makers (I really mean the RBA) so far have managed the second phase of this mining boom quite well; although the November interest rate rise was a step too soon, but everyone is allowed to make a mistake now and then.  A fool, however, makes that same mistake twice; an idiot three times.  I hope Glenn Stevens isn’t going to be foolish nor act like an idiot.  Yesterday’s decision to leave rates on hold, at least, proved that Glenn is no fool, yet.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Given the tight Federal Budget – which as I have <a style="outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; color: #990000; text-decoration: none; padding: 0px; margin: 0px; border: 0px initial initial;" href="https://matusikmissive.wordpress.com/2011/05/04/may-budget/">argued </a>recently isn’t really what is needed now, as we need to stimulate the non-mining (the vast majority of the economy) sectors now for years to come – and the post-flood/cyclone slowdown, interest rates, for the time being at least, should remain on hold.  My way of thinking is this needs to occur for at least another twelve months or so, maybe more.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">However, if the general economy continues along its current trajectory in coming months, then last November’s pre-emptive strike will need to be reversed.  Inflation (for now at least) is well under control; jobs advertisements are on the slide; house prices are also falling; fewer firms are posting gross profits; there has been no economic growth so far this year and manufacturing is contracting once more.  Sorry, for the lemon infusion, but I couldn’t help myself!
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Hmmm, sound like we might see interest rates actually fall next rather than rise.  I might have been <a style="outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; color: #990000; text-decoration: none; padding: 0px; margin: 0px; border: 0px initial initial;" href="https://matusikmissive.wordpress.com/2011/02/16/rates-must-fall/">right </a>after all.   The RBA confesses in yesterday’s media release that the current cash rate setting is mildly restrictive.  I think that come August this mild settling will feel severe indeed.  Fingers crossed (the sugar) that it doesn’t come to this.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Regardless of the future direction of interest rates, what would help the situation – and stop all the jawboning and resultant negativity – would be some very clear advice from the RBA outlining (in plain English please) their prognosis for the next financial year and when (and by how much) interest rates might change.  This monthly interest rate guessing game is counterproductive.  Run through a budgetary process, factor in the variables and let us know.  If nothing else, it will help shut up all those damn economists waxing lyrical about every minute detail that is muttered by GS and his band of merry men (and two ladies).
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">And the final reason, and the main one, why this boom, for most of us, feels more like a recession, is the lack of confidence.  Yes, consumer attitudes have changed fundamentally.  And I don’t buy into the surprise lift in April’s retail turnover, as a sign that we are going back to our old spending ways.  Consumption is out and saving is in.  Most, too, are less interested in taking on debt.  But things right now have become outright gloomy – we are squirreling money away like our lives depend on it – yet our balance sheet indicates considerable strength.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">One of the key reasons for this gloom is the almost daily threat of looming interest rate rises.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Glenn please, from this day onwards, tell us a year in advance, when to expect a change in interest rates and by how much.  Proact, stop reacting – this constant game of cat and mouse needs to stop.
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Be proactive, not reactive

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]

Michael Matusik

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