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Some property commentators have taken the view that property market dynamics are worrying, but Governor Glenn Stevens says it’s a little too early to signal great concern.
At Citi’s fifth annual Australian and New Zealand Investment Conference, Stevens says some rise in housing prices is part of the normal cyclical dynamic and improves the incentive to build and a price rise reversing an earlier decline isn’t something to complain about too quickly.
“Credit growth, at between 4% and 5% per annum to households, and less than that for business, does not suggest that rising leverage is so far feeding the price rise,” says Stevens.
Stevens says to pay close attention to credit growth, which may pick up somewhat over the period ahead and borrowing is increasing quickly in some pockets - a 40% increase over the past year in finance approvals for investment participation.
“We have certainly experienced higher rates of growth of finance than that in the past, and it may be that we are seeing some catch-up from a delayed initial response to fundamentals favouring more investment in housing
“Nonetheless, as this activity continues, lenders and borrowers alike would be well advised to take due care.
“It is very important that strong lending standards remain in place, and that decisions be based on sensible assumptions about future returns.
“That's what we need if we are to experience a long and sustainable expansion in housing investment that houses our growing population at acceptable cost, and pays reasonable returns on the capital deployed.
“That's the sort of outcome we want, as part of the more balanced growth path for the economy we are seeking over the years ahead,” says Stevens.
<hr>
<img style="float: left;" alt="jc-insights-breakout" height="210" width="150" src="/images/stories/2013/10/30/jc-insights-breakout.png">PROPERTY INSIGHTS
<a title="RBA watching Sydney property investment and urges due care" href="https://www.propertyobserver.com.au/news/rba-watching-sydney-property-investment-but-no-great-concern-yet-if-due-care-is-taken/2013102865871?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=jonathanchancellor'spropertyinsights">RBA watching Sydney property investment and urges due care</a>
"And a recent RP Data chart indicates just why we are not near any level of unease. Sure there is a clear price momentum, but you never know what will emerge from left field to slow it, halt it, or send prices backwards as the rollercoast chart since 1997 shows."
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Governor Glenn Stevens says it's too early to signal great concern on property dynamics

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The Waverley area is nearly back to where it was in 2010 when the market was at its peak in terms of house prices and demand, according to Dexter Prack director Harcourts Judd White.
Harcourts Judd White experienced a busy month in September, transacting just under $20 million in sales in the area, which includes <a target="_blank" href="/news">Glen Waverley</a> and <a target="_blank" href="/news">Mount Waverley</a>.
“The market in Waverley has certainly gained momentum in the last couple of months which is evident through the strength of enquiries, open for inspection attendances and the competitiveness on auction day.
“It has been quite some time since I’ve seen properties well above reserve and with multiple bidders on the day, but it definitely is a welcome change,” says Prack.
Prack says the spring market has lived up to its expectations and days on market have also decreased dramatically, an average of 30 days, and properties are selling well above reserve.
A mortgagee sale at 35 Nottingham Street, Glen Waverley (pictured below) sold for $250,000 above its reserve price of $860,000.
{yoogallery src=[images/stories/2013/10/31/glen]}
Prack says there were five solid bidders at the auction, with the property selling from $1,111,000.
“This impressive result shows the strength of the property market, especially properties in the Glen Waverley Secondary school zone.
“Demand is as strong as ever and we cannot keep with how many buyers want to buy in the school zone,” says Prack.
Property Observer has previously <a target="_blank" href="https://www.propertyobserver.com.au/victoria/schools-draw-chinese-buyers-to-melbournes-southeast/2013040158740">reported</a> on the Waverley school zone and who’s buying.
“There is a big market for buyers of Asian descent, particularly mainland China and Hong Kong, looking at the $1.7 million to $2.2 million range in a school zone,” says Prack.
Prack says yields in the Waverley aren’t that high, but the recent demand has seen it spike slightly.
Prack says the recent demand started about three months months ago – before the busy spring selling season kicked off.
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Suburb spotlight: The Waverley area nearing its 2010 peak

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A $120 million residential tower in Southbank has been approved by Planning Minister Matthew Guy, which will house around 600 residents upon completion.
Located on City Road, the 61-storey development will stand 193 metres high and will include 431 one- and two-bedroom apartments inside an intricate bronze glass façade.
“This development will help transform a currently underutilised site in central Southbank, enhancing the streetscape with its elegant and simple design and opening up street level spaces for retail and cafe uses,” says Guy.
“Southbank’s appeal for new residents is significant, as this ‘urban village’ is within our vibrant arts precinct and has immediate access to the Melbourne CBD, employment, public transport, the Yarra River, parks and gardens and other services.
“It also helps meet anticipated high population growth in the area, while also boosting livability for residents. “Each tower in the central city takes development pressure off Melbourne’s middle suburbs,” says Guy.
Guy says each crane on Melbourne’s skyline represents real jobs for Victorians, and is a sign of a strong and growing economy.
“This is yet another demonstration of how Melbourne continues to be a prime location for investment,” says Guy.
Construction on the residential tower is likely to start early next year and has a completion date of 2017.
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Matthew Guy approves $120 million residential tower for Southbank

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Following a busy selling weekend, auctions are taking a back seat again this week as we prepare for another public holiday, with only 1,535 auctions scheduled across the capital cities, according to RP Data.
There were a revised 2,928 auctions held across the capital cities last week, up from 2,370 the previous week.
The national clearance rate was recorded at 72.5% last week, up from 70.4% the previous the week.
At the same time last year, there were 1,344 auctions and a recorded clearance rate of 53.1%.
Melbourne was bustling last week with 1,614 auctions held, up from 1,124 the previous week.
The preliminary clearance rate last week was recorded at 72.3%, up from 68.6% the previous week.
With one of the busiest holidays of the year in Melbourne – Melbourne Cup weekend – only 162 auctions are scheduled this week.
At the same time last year the clearance rate in Melbourne was recorded at 61.5% from 567 auctions.
Sydney auctions are continuing to climb with 921 auctions recorded last week, up from 913 the previous week.
At the same time last year Sydney held 519 auctions with a 55.6% clearance rate.
Sydney is scheduled to hold 1,032 auctions this week.
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Melbourne Cup weekend pulls the reins on auctions as numbers dwindle: RP Data

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It was a mix of old and new this week, with a contemporary 2009 beach house and a refurbished 1906 home sharing the title of this week’s most expensive sale, both selling for $4 million each, according to RP Data.
The four-bedroom Coogee home on Oberon Street (pictured below) sold on October 22 through Alexander Phillips and Adam David of <a href="https://www.propertyobserver.com.au/https://www.gdrealestate.com.au/recent-sales/0000160519" target="_blank">GoodyerDonnelley Real estate Woollahra</a>.
{yoogallery src=[images/stories/2013/10/29/cog]}
The three-storey home was built in 2009 and features self contained guest accommodation.
The median house price in <a href="/news">Coogee</a> is $1.565 million, a 19% change in the past five years, according to RP Data.
The three-bedroom Drummoyne home, known as Nairobi (pictured below), sold on October 26 through Tim Wieland and Lochlan Grahame of <a href="https://www.ch.com.au/selling/NSW/Inner-West/Drummoyne/House/1P8793" target="_blank">Cobden and Hayson Balmain</a>.
{yoogallery src=[images/stories/2013/10/29/drum]}
Situated on 777 square metres, the property has been refurbished and extended to maximize views across the bay and harbour islands to the Sydney Harbour Bridge.
The home features parquetry flooring, original joinery in the lounge, travertine bathrooms and an entertainer’s deck.
The median house price in <a href="/news">Drummoyne</a> is $1.2 million, a 26.3% change in the past five years, according to RP Data.
Most expensive sales:
 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/244_oberon_street_coogee_nsw_2034/1931841" target="_blank">244 Oberon Street, Coogee, NSW, 2034,</a> four-bedroom house, sold on October 22 by GoodyerDonnelley Real Estate Woollahra for $4 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/10_alexandra_street_drummoyne_nsw_2047/2123269" target="_blank">10 Alexander Street, Drummoyne, NSW, 2047,</a> three-bedroom house, sold at auction on October 26 by Cobden &amp; Hayson Balmain for $4 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/11_hall_street_brighton_vic_3186/10011947" target="_blank">11 Hall Street, Brighton, VIC, 3186,</a> five-bedroom house, sold at auction on October 26 by Nick Johnstone Real Estate Brighton for $3.82 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/12_queens_avenue_mcmahons_point_nsw_2060/4169465" target="_blank">12 Queens Avenue, McMahons Point, NSW, 2060,</a> four-bedroom house, sold at auction on October 26 by McGrath Estate Agents for $3.64 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/93_llewellyn_street_rhodes_nsw_2138/5836644" target="_blank">93 Llewellyn Street, Rhodes, NSW, 2138,</a> five-bedroom house, sold at auction on October 26 by Raine &amp; Horne Concord for $3.49 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/32_pymble_avenue_pymble_nsw_2073/5644921" target="_blank">32 Pymble Avenue, Pymble, NSW, 2073,</a> five-bedroom house, sold at auction on October 26 by Richardson &amp; Wrench Lindfield for $3.325 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_glendearg_grove_malvern_vic_3144/11577229" target="_blank">28 Glendearg Grove, Malvern, VIC, 3144,</a> four-bedroom house, sold at auction on October 26 by Jellis Craig Bennison Mackinnon Real Estate for $3.28 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/85_mont_albert_road_canterbury_vic_3126/10257589" target="_blank">85 Mont Albert Road, Canterbury, VIC, 3126,</a> five-bedroom house, sold at auction on October 26 by RT Edgar Boroondara for $3.25 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/71_balfour_road_bellevue_hill_nsw_2023/1366595" target="_blank">71 Balfour Road, Bellevue Hill, NSW, 2023,</a> five-bedroom house, sold at auction on October 23 by Richardson &amp; Wrench Double Bay for $3.21 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_mindanao_court_armadale_vic_3143/9319055" target="_blank">1 Mindanao Court, Armadale, VIC, 3143,</a> four-bedroom house, sold at auction on October 26 by Kay &amp; Burton South Yarra for $3.2 million
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Contemporary Coogee and restored Drummoyne this week's most expensive sales: RP Data

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Family-run Ballarat hardware store Dahlsen’s has sold to another independent hardware store, amid interest from a range of developers and retailers for the large 15,400 square-metre site.
Located at 55 to 63 Albert Street in the Ballarat suburb of <a href="/news">Sebastopol</a>, the site sold for $7.25 million, a reflection of $470 per square metre.
<img alt="ballarat_oct_29" height="353" width="470" src="/images/stories/2013/10/29/ballarat_oct_29.jpg">
The site was sold through Colliers International’s Charles Kennedy, Andrew Lewis and Tom Noonan.
“The successful purchaser, G. Gay Hardware, beat stiff competition from a mix of developers, retailers and other hardware chains, and will continue to operate it as a hardware store,” says Kennedy.
“Along with the local Safeway store, this evolving retail strip is also home to big-name brands including Aldi, McDonalds, KFC, Ford, UFS and Plus Petrol.
“Given the location opposite a strong trading Safeway Supermarket, we always expected keen interest from major national retailers,” says Kennedy.
Dahlsen’s occupied the site for the past seven years, with the site previously home to the oldest hardware chain in Ballarat, Coltmans Mitre Ten, which dates back to the gold rush.
<img alt="ballarat_oct_29_two" height="313" width="470" src="/images/stories/2013/10/29/ballarat_oct_29_two.jpg">
Lewis says retail offerings of this scale were uncommon in regional markets such as Ballarat.
Dahlsen’s will relocate to an 8,000-square-metre site in Delacombe.
The sale follows a series of sales by Dahlsen’s this year, selling their businesses in Horsham, Sale and Warragul to hardware giant Bunnings.
 
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Family-run Dahlen's sells Ballarat hardware store for $7.25 million

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Hawthorn East is to be injected with two new boutique residential developments on Camberwell Road, Soltice Apartments and Elmington.
Solstice is a seven-level development designed by Fender Katsalidis Architects and is already 35% sold ahead of construction commencement.
{yoogallery src=[images/stories/2013/10/31/haw1]}
Developed by Bensons Property Group, Solstice (pictured above) will feature 108 apartments across five levels.
Boasting a curved bronzed façade inspired by neighbouring buildings, the development will feature interiors by Carabolt Holt Turchinov, with residents having access to a gym, cinema and garden courtyard.
One-bedroom apartments start from $449,500 and two-bedroom apartments start from $530,000.
Apartments range in size from 45 square metres to 66 square metres.
Solstice will feature ground level retail, which is yet to secure a tenant.
Construction is scheduled to commence mid next year and is scheduled for completion in the second half of 2016.
Further up the road is Emington, a four-level boutique development featuring 68 apartments.
Located on the corner of Camberwell Road and Roseberry Street, Elmington (pictured below) boasts a modern façade of timber-clad balconies designed by Ariel Lopez.
{yoogallery src=[images/stories/2013/10/31/haw2]}
With interiors by Yvette Dumergue of Inhabit Design, residents will have the choice of different fittings and fixtures to suit individual tastes and needs.
One-bedroom apartments start from $399,000 and are 50 square metres in size.
Two-bedroom apartments are 85 square metres in size and are priced from $740,000.
Three-bedroom apartments range between 98 square metres to 129 square metres and are priced from $900,000 to $1.295 million.
South facing ground floor apartments offer direct access to the Fritsch Holzer Park through private courtyards.
The development launched on October 20 with seven apartments reserved to date.
The median apartment price in <a href="/news">Hawthorn East</a> is $490,000, a 6.7% change in the past five years, according to RP Data.
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Hawthorn East to welcome two boutique developments only metres apart

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Leighton Properties has acquired a large site in Moonee Ponds for $23 million with plans to build a mixed-use development 10 to 16 levels high.
The 1.339-hectare site on Hall Street was the former home of the Moonee Ponds market and includes five titles with six street frontages.
It is currently used for car parking purposes.
CBRE’s Scott Orchard, Justin Clarkson and Ari Petrovs – in conjunction with Colliers’ Peter Bremner and Jeremy Gruzewski acted on behalf of vendor, Reading Entertainment.
“This landmark development will help transform the suburb of Moonee Ponds into a thriving community just 6.5 kilometres from the CBD,” says Clarkson.
“Very rarely does a site of this size present itself with such extensive possibilities to deliver a landmark mixed use project of exceptional scale and town-centre prominence,” says Orchard.
Orchard says the surrounding amenities, including public transport, the Puckle Street retail strip and Moonee Ponds shopping centre will ensure the success of a high density, mixed-use development on the site.
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Leighton Holdings aquires Moonee Ponds site for $23 million

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A two-bedroom apartment in the iconic Port Authority Building on Market Street is due to go under the hammer mid-November.
Built during The Great Depression, the Port Authority Building won the Street Architecture Medal in 1932, the Royal Victorian Institute of Architects highest accolade.
Boasting 20th century revival architecture and designed by Sydney Smith, Ogg &amp; Serpell, the building reflects the Australian Made concept, with over 90% of the materials and workmanship coming from Australia.
The heritage building was converted into 111 apartments at the end of the 90s.
The 74-square-metre apartment has been with the current vendors for eight years and features two bathrooms and ceilings of up to 3.5 metres.
It is scheduled to go to auction on November 16 with a $560,000 plus price guide.
The apartment is listed with Eleanor Smith and Stephen Smith of <a target="_blank" href="https://www.caine.com.au/1115024/">Caine Real Estate</a>.
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Apartment in iconic Port Authority building to go under hammer

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Almost $5 million worth of apartments have sold at Proximity Hamilton in Brisbane’s Wharf Precinct since its launch on October 19.
The 14-level development is a joint venture between Peloton Group and Rockingham Park and features designs by Brisbane’s Cottee Parker Architects.
<img alt="hamilton-oct-28-three" src="/images/stories/2013/10/28/hamilton-oct-28-three.jpg" height="264" width="470">
Peter Malady managing director of 360 Project Marketing says the market is the strongest it's been since 2008.
"We’re just out of the blocks with Proximity Hamilton and we’ve already sold 10 units worth a combined value of $4.868m.
"When you see movement in the Sydney market, it’s inevitable that South East Queensland follows suit and that’s what we’re seeing here, because people see the value proposition.<img style="float: right;" alt="hamilton-oct-28-one" src="/images/stories/2013/10/28/hamilton-oct-28-one.jpg" height="306" width="199">
"This is typical of the Australian property market; South East Queensland is starting its new cycle upwards," says Malady.
Inspired by its proximity to the Brisbane River, Proximity Hamilton’s design reflects the rivers ripples and floating boats.
"The battens are inspired by the skeletal hulls of boats and as the ribs of a boat change along its length so too do these vertical battens change and warp along the length of the building," says Cottee Parker Architects director Sandra Browne. "Subtle shifts in the spacing between each batten and subtle twists across each elevation add a sense of animation and individuality," says Browne.
Featuring 127 apartments, one-bedroom apartments are 60 square metres and are priced from $330,000.
Two-bedroom apartments range in price from $495,000 to $655,000 and range in size from 85 square metres to 104 square metres.
Apartments feature floor to ceiling windows and light timber finishes.
<img alt="hamilton-oct-28-two" src="/images/stories/2013/10/28/hamilton-oct-28-two.jpg" height="364" width="470">
Malady says buyers have been a mix of investors and owner-occupiers.
"Investors have come from Sydney and Brisbane, in that order, who have bought predominantly one bedroom apartments.
"The owner-occupier buyers have come from a 5-kiloetre radius of the development and have bought the larger, two-bedroom apartments," says Malady.
"Location is what drives the Proximity brand and it’s what we, as developers, look for first and foremost," says Peloton Group director David Sweeney.
"Proximity Hamilton fits our development model by providing stylish apartments in dress circle locations at prices that represent excellent value to buyers.
"People are expecting more from where they live these days, particularly in terms of access to amenities, and we cater to that need - It’s what sets Proximity apart from competitor projects.
"Aside from spacious, modern apartments, Proximity Hamilton will offer a swimming pool and deck for the residents’ enjoyment, as well as direct access to the best that Portside has to offer – fine dining, boutiques, 24 hour gyms, a new Woolworths, Doomben and Eagle Farm racecourses, cinemas, beautiful river walks, the CBD and ferries," says Sweeney.
Construction is scheduled to commence in early 2014 for an early 2015 completion date.
 
<hr>
 Correction: The photos that initally accompanied this story were incorrect and have since been updated.
 
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Proximity Hamilton secures almost $5 million in sales in a week

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]

Nicola Trotman

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