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Only a handful of apartments remain in Ceerose’s boutique Eliza complex on Elizabeth Street, located opposite Hyde Park.
Featuring a serpentine-sculpted Tony Owen-designed façade, Eliza features 19 apartments across 17-storeys.
"We are creating a building with an architectural point of difference that does justice to this landmark site in arguably Sydney’s most beautiful street,” says Edward Doueihi, director of Ceerose.
“We have no doubt Eliza will be the finest residential building in the CBD, and we hope it inspires other developers to dare to be different.”
Level one to five features 10 half-floor two-bedroom apartments, which were all sold off the plan for around $2 million each.
The majority of early off-the-plan purchasers were owner-occupiers, including some expats who will use the apartment as their Sydney base.
The upper levels feature eight four-bedroom apartments, each occupying an entire floor and harbour views.
The seven remaining four-bedroom apartments are around 200 square metres and start from $4 million.
 A three-level four-bedroom penthouse is also up for grabs for around $15 million.
The penthouse includes a rooftop level, boasting an infinity edge pool, limestone paving, hardwood timber decking and an outdoor kitchen and entertertaining facilities.
Eliza apartments feature floor to ceiling windows, fireplaces and full-height timber-paneled walls, which were handcrafted in Spain by Porcelanosa.
Kitchens boast limestone floors and Calcutta marble benchtops and splashbacks.
“Many people want to escape the maintenance chores of a house and like the idea of moving into a lively location, but most baulk at the thought of multi-unit developments where noise can be an issue and privacy can be compromised,” says John McGrath.
“Eliza offers the perfect compromise so that their transition from a family home into strata living is as seamless as possible.
“Secured lifts only stop at authorised floors, opening onto a private vestibule within the full floor apartments.
“The high ceilings and full-height glazing accentuates the feeling of spaciousness and allows residents to entertain in a style previously only the domain of large houses,” says McGrath
The Eliza building also boasts a nine-storey wall of evergreen climbing plants at its rear.
“Eliza has a unique external character yet its interiors are timeless, capturing the spirit and sophistication of those grand buildings fronting Central Park in New York and Hyde Park in Knightsbridge,” says Nigel Napoli of Savills Residential Projects.
Eliza is scheduled for completion in November this year.
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Tony Owen-designed Eliza Apartments to grace Hyde Park

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The Supreme Court precinct in Victoria Square is to be transformed into a vibrant legal and commercial precinct, with an expression of interest campaign running to target private sector developers.
"There is an opportunity to use the Supreme Court asset at the corner of King William and Gouger Streets to achieve the best possible outcome for taxpayers,” says Attorney-General John Rau.
Rau says a needs analysis shows court facilities in the Sir Samual Way and Supreme Court buildings are nearing the end of their useful life.
Rau says the transformation will deliver a more efficient justice system, assisted by state of the art technology such as video links and paperless litigation.
“It’s about capitalising on the strong position this prime city real estate gives us to attract private sector investment in a commercial development that supports the modern legal system we need much sooner than may other be possible,” says Rau.
Infrastructure minister Tom Koutsantonis says a privately financed project of this scale has the potential to deliver significant economic benefits and some 1,500 construction jobs.
“In other capital cities in Australia there are impressive examples of integrated court precincts,” says Koutsantonis.
“With the Adelaide Magistrates Court on the opposite corner of Victoria Square, South Australia would be unique in being able to provide a fully integrated precinct.
“Working with the site we have at the top of Gouger Street, I’d like to think that we could create the best Courts precinct of its kind in Australia.
“The call for Expressions of Interest will be an opportunity for the private sector to demonstrate what they can bring to the process of transforming this important part of the City,” says Koutsantonis.
The <a target="_blank" href="https://www.tenders.sa.gov.au">Expression of Interest campaign</a> will close in November this year.
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Victoria Square Supreme Court Precinct seeks developers for transformation

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Following the recent success of the Eden and Haven complexes in Hamton’s $410 million riverside village precinct in Abbotsford, the next and final project, Sanctuary, has been launched.
The $117 million Sanctuary will feature 193 one-, two- and three-bedroom apartments across 12 storeys.
Sanctuary is already 30% sold two weeks after launch.
The joint venture between Hamton and ISPT boasts designs by ROTHELOWMAN and landscaping by Tract Consultants and David Engwicht.
“This is one of the very last opportunities available to enjoy the best of riverside living,” says Hamton joint managing director Paul Hameister.
“The offering at Haven and Eden has been well received by a range of buyers particularly Melbourne’s elite downsizers from neighbouring suburbs of Hawthorn and Kew who are seeking a premium lifestyle alternative,” says Hameister.
Having launched in 2011, Eden has one apartment left and Haven has six apartments left for sale.
“We anticipate a similar response for Sanctuary who will be attracted to an exclusive lifestyle with enviable views of the Yarra River, surrounding treetops and the city,” says Hameister.
One-bedroom apartments range in size from 41 square metres to 58 square metres internally and range in price from $365,000 to $587,000.
Two-bedroom apartments range in size from 56 square metres to 130 square metres internally and range in price from $570,000 to $999,000.
Three-bedroom apartments range in size from 95 square metres to 197 square metres internally and range in price from $980,000 to $1.95 million.
Residents will have access to a health and wellbeing retreat, with a lifestyle team on hand to provide services such as personal training, yoga classes, beauty services and massages.
Located at 681 Victoria Street, the project has deliberately created a <a target="_blank" href="/news">public thoroughfare</a> to the <a target="_blank" href="https://www.propertyobserver.com.au/developments/hamton-s-riverfront-homes-the-latest-in-abbotsford-living-as-melbourne-suburb-sheds-industrial-past/2012121858496">Yarra River</a>, incorporating the shops, restaurants and cafes as well as pedestrianised pathways around the site.
One of the key features of the development is a publicly accessible “pedestrian line between Victoria Street and the Yarra River trail” with the aim of “bringing the tranquillity of the river corridor up to Victoria Street”.
The pedestrian street acts as a place for both the public and residents to meet as well as being the main point of access to each residential lobby.
“This unique pocket of Abbotsford is a secure investment, positioned between some of Melbourne’s most highly sought after suburbs – the growth potential and proximity to quality amenity is undeniable.
“We are proud to deliver Sanctuary not only because of the lifestyle it offers to residents but its quality offering in a tranquil setting, developed with sustainability at the fore,” says Hameister.
Sanctuary is expected to be completed by late 2015.
Construction is complete on Eden and Haven is scheduled to be completed in February 2014.
The median apartment price in <a target="_blank" href="/news">Abbotsford</a> is $590,000, a 59.5% change in the past five years, according to RP Data.
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Final installment launched in Hamton's $410 million riverside village precinct

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The AFL Grand Final has had a large affect on auction schedules this week, with only 1,123 auctions scheduled across the capital cities, according to RP Data.
There were 2,072 auctions held across the nation last week, almost identical to the previous week with 2,073 auctions.
The clearance rate slightly increased last week to 76.2%, up from 72% the previous week.
At the same time last year the clearance rate was much lower at 56.5% and 1,733 auctions were held.
Melbourne is to be affected the greatest from Saturday’s match, with only 64 auctions scheduled.
Last week Melbourne held a revised figure of 927 auctions, and 975 the previous week.
Melbourne’s preliminary clearance rate was 76.9% last week, up from 72.5% the previous week.
At the same time last year there were 754 auctions and the clearance rate was 60%.
Sydney is continuing it’s busy selling season, with 829 auctions scheduled this week.
Sydney held a revised 744 auctions last week and 805 the previous week.
Sydney’s preliminary clearance rate was 88.4% last week, up from 79.7% the previous week.
At the same time last year Sydney held 671 auctions and had a clearance rate of 59.2%.
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Melbourne auctions put to the sideline for AFL Grand Final weekend: RP Data

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If you’re looking for a sea change but not sure where to go, you could live on your very own secluded island for just $850,000.
<a href="https://www.privateislandsonline.com/islands/temple-island-australia" target="_blank">Temple Island Australia</a>, located in Cape Palmerstone, is the cheapest island currently on the market for $850,000.
Spanning 8.7 hectares, the island includes a four-bedroom home and a private airstrip.
Temple Island (pictured below) is leasehold and has 20 years left before the lease needs to be renewed.
{yoogallery src=[images/stories/2013/09/24/temple]}
 
If you have a bit more cash to splash, you could buy <a href="https://www.privateislandsonline.com/islands/turtle-island-australia" target="_blank">Turtle Island</a> – located off the coast of Gladstone – for $5 million.
The island – featuring a four-bedroom, five-bathroom home has been on the market for three years, with two sales falling through.
It has previously attracted the likes of Clive Palmer and Geoffrey Edelsten, and even Julia Roberts was supposedly outbidded in 1999.
A Sydney couple bought the 9.21-hectare Turtle Island (pictured below) for $3 million in 1999.
The island was developed by horse-racing identity Bob Bentley, who bought it in 1994 for $300,000.
Turtle Island also includes a pool, private jetty and a helipad.
{yoogallery src=[images/stories/2013/09/24/turtle]}
 
A resort on the largest island on the Great Barrier Reef – <a href="https://www.privateislandsonline.com/islands/hinchinbrook-island" target="_blank">Hinchinbrook Island</a> (pictured below) – is also up for grabs for $4.5 million.
The eight-hectare leasehold at Cape Richards is located half way between Cairns and Townsville and is on a leasehold of 50 years.
The Resort can cater up to 50 guests per night in eight beach cabins and 15 treetop bungalows.
The island was used to film the 2008 children’s movie “Nim’s Island”, which starred Jodie Foster.
The island is currently undergoing rejuvenation and comes with a permit to commercially snorkel and dive in the coral reef on the adjacent island.
The sale also includes a ferry that can transport 120 persons.
{yoogallery src=[images/stories/2013/09/24/hitch]}
 
A resort on the 40.5-hectare <a href="https://www.privateislandsonline.com/islands/south-molle-island" target="_blank">South Molle Island</a> in the Whitsundays could be yours for $30 million.
South Molle Island is the only commercial island in the Whitsunday Islands and includes the Adventure Island Resort, which currently caters to back-packers.
The freehold resort offers the opportunity for re-development, including a new marina.
South Molle Island (pictured below) can be accessed via boat or air from Hamilton Island international airport.
{yoogallery src=[images/stories/2013/09/24/molle]}
 
Poll results:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/09/25/poll-results-sept-25.jpg" alt="poll-results-sept-25" width="470" height="304">
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Searching for your own slice of paradise? Private islands priced from $850k

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An architecturally designed-David Walker home in Vaucluse sold under the hammer for $5.15 million, making it this week’s most expensive sale, according to RP Data.
Located at 54 Olola Avenue, the five-bedroom sold on September 17.
The double level residence features four bathrooms, an atrium style entry, high ceilings, timber floors and wool carpets.
Situated on 759 square metres, the property also includes an entertaining terrace and pool with harbour views.
The home last traded in 1988 for $1.15 million.
Listing agent David Greenblo says the 1930s or 1940s home has undergone a significant transformation, making it now unrecognizable.
The property was listed with <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/297461" target="_blank">Martin Maskin and David Greenblo of Raine &amp; Horne Double Bay.</a>
The median house price in <a href="/news">Vaucluse</a> is $2.78 million, a 13.1% decline 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/54_olola_avenue_vaucluse_nsw_2030/7144881" target="_blank">54 Olola Avenue, Vaucluse, NSW, 2030,</a> five-bedroom house, sold at auction on September 17 by Raine &amp; Horne Double Bay for $5.15 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_mansion_road_bellevue_hill_nsw_2023/1369718" target="_blank">20 Mansion Road, Bellevue Hill, NSW, 2023,</a> five-bedroom house, sold on September 19 by BradfieldCleary Real Estate for $4.2 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/231_burke_road_glen_iris_vic_3146/11068812" target="_blank">231 Burke Road, Glen Iris, VIC, 3146,</a> five-bedroom house, sold at auction on September 21 by Abercromby's Real Estate Armadale for $3.705 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/116_stanhope_street_malvern_vic_3144/11582147" target="_blank">116 Stanhope Street, Malvern, VIC, 3144,</a> five-bedroom house, sold at auction on September 21 by Marshall White Real Estate Armadale for $3.475 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/89_claremont_avenue_malvern_vic_3144/11575599" target="_blank">89 Claremont Avenue, Malvern, VIC, 3144,</a> four-bedroom house, sold at auction on September 21 by Marshall White Real Estate Armadale for $3.22 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_ryeburne_avenue_hawthorn_east_vic_3123/11201831" target="_blank">28 Ryeburne Avenue, Hawthorn East, VIC, 3123,</a> four-bedroom house, sold at auction on September 21 by Marshall White Hawthorn for $3.175 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21_mermaid_avenue_maroubra_nsw_2035/4046320" target="_blank">21 Mermaid Avenue, Maroubra, NSW, 2035,</a> five-bedroom house, sold at auction on September 21 by Home Estate Agents Bronte for $3.01 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/47_drummond_street_carlton_vic_3053/10276948" target="_blank">47 Drummond Street, Carlton, VIC, 3053,</a> four-bedroom house, sold at auction on September 21 by Woodards Real Estate Carlton for $2.935 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/78_middle_harbour_road_lindfield_nsw_2070/3771351" target="_blank">78 Middle Harbour Road, Lindfield, NSW, 2070,</a> four-bedroom house, sold at auction on September 21 by Belle Property Killara for $2.78 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/107_finch_street_malvern_east_vic_3145/11591340" target="_blank">107 Finch Street, Malvern East, VIC, 3145,</a> four-bedroom house, sold at auction on September 21 by Marshall White Real Estate Armadale for $2.7 million
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David Walker-designed Vaucluse home most expensive sale: RP Data

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Major opportunities should arise for urban renewal following the $11.5 billion WestConnex motorway solution under Parramatta Road, says Urban Taskforce.
“The best time to drive major urban renewal is when large infrastructure projects like WestConnex are under way,” says Urban Taskforce CEO, Chris Johnson.
The 33-kilometre WestConnex motorway will link Western Sydney and South Western Sydney with the city, airport and Port Botany.
The government forecasts 25,000 new homes and 25,000 new jobs will be created over the next 20 years, but Urban Taskforce says these figures can be significantly increased with appropriate densities and heights.
“The Urban Taskforce believes that this corridor can accommodate 100,000 new apartments and 100,000 new jobs and that there are many sites available for redevelopment now.
“There is real opportunity for the NSW Government to champion a new direction for urban renewal by defining a 21st century approach to zoning, to encourage mixed use development that lead’s to a dynamic urban environment.
“There is a big trend in Sydney towards urban living in apartments and if this is linked with work locations and community amenities, we can handle significant parts of our growing population along Parramatta Road,” says Johnson.
Meanwhile, Raine &amp; Horne says the construction of the WestConnex motorway will result in a 10% to 15% jump in real estate values in concord.
“This announcement is a great initiative as it will address major traffic congestion in and around the entrance to the M4, and also free up secondary roads between Concord and Haberfield such as Queens Road, Lyons Road and Parramatta Road,” says principal of Raine &amp; Horne Concord Paul Pettenon.
“The WestConnex will result in quiet streets and much faster travelling times to the city, which will help drive up values in and around Concord.
“In a hot market like we currently have, we could easily see prices jump in Concord on the back of this announcement by 10–15% over the next 18 months, with more tempered growth as the completion of the project draws closer,” says Pettenon.
Work on the motorway will start in mid-2015 with a scheduled 2019 finish date.
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Sydney's WestConnex motorway to offer major urban renewal opportunities but Concord prices to jump

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On this week’s episode of Location Location Location, the theme of the episode focuses on money and budgets.
Host Bryce Holdaway says the Melbourne market has been in the slow lane for the last couple of years, but due to the change in interest rate it now means money is cheap and confidence is high.
{qtube vid:=_4juGXENkqM}
Veronica Morgan is helping single mum Wendy find a property in the inner city with a budget if $1,050,000.
“In Melbourne, quite often the price guides are really hard to work with,” says Holdaway.
“Because sometimes properties can go for 15% to 20% over the lower range of the price guide.
“As you know with Melbourne price guides to get a property for $1,050,000, I have to show her [Wendy] properties in that mid-$800,000 to $900,000 range, because then when it runs away, it will go to her top end of the budget.
“Jumping over that $1 million mark is quite an unusual range, because once people jump over it can run away quite quickly in this competition,” says Holdaway.
Couple Marty and Jude, have a budget of $675,000 and want something that is large enough for a dog and close to the café culture.
After a bit of a hunt, they are presented with a property in <a href="/news">Thornbury</a> with an asking price of $640,000 plus for its forthcoming auction.
“I always say you can go about 15% above the lower range to give you a good idea,” says Holdaway – this pushes the price up past $720,000.
“I understand it’s a really scary thing, you have a budget set in your mind and you should honour that, but sometimes it’s worth stretching the budget,” says Holdaway.
Marty and Jude pushed their budget to $780,000.
The property ended up selling under the hammer for over $800,000.
The next episode of Location Location Location airs on Wednesday September 25 on the Lifestyle Channel.
You can read last week’s lessons <a href="https://www.propertyobserver.com.au/news/look-outside-the-square-property-lessons-from-location-location-location-australia/2013091164828" target="_blank">here</a>.
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Melbourne price guide lessons from Location Location Location Australia

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Some 30% of apartments have already been snapped at The Andalusian, the latest development to grace Melbourne’s leafy suburb of Balwyn.
The six-storey development by Spec Property will comprise of 65 one-, two- and three-bedroom apartments ranging from $359,000 to $1.5 million.
One-bed apartments range in size from 45 square metres to 66 square metres internally.
Two-bedroom apartments range from 65 square metres to 129 square metres and three bedders range from 111 square metres to 153 square metres.
Located at 182 Whitehorse Road, residents on level four and above will have views towards the city and Macedon ranges and will be able to design their ideal home with over 1,400 possible combinations of personal touches available.
Designed by Internal, apartments feature veneer surfaces, ceramic gloss beveled tiles, black chrome tap ware, wool carpets and porcelain bench tops in the kitchen.
The development will also include a resident’s lounge, reading room and dining table, as well as a BBQ terrace with an outdoor kitchen.
Tanya Sanchez of Synergy BSM says over 95% of sales have been to owner-occupiers, due to the fact that buyers can customize their apartment.
The Andalusian is only <a target="_blank" href="https://www.propertyobserver.com.au/victoria/balwyns-school-zone-continues-to-draw-asian-buyers/2013031158731">being sold locally</a>.
“We don’t want to take our development offshore because we’re not targeting an investment market,” says Sanchez.
<a target="_blank" href="https://www.theandalusian.com.au/">The Andalusian</a> was officially launched on August 4 and has a scheduled completion date of mid-2014.
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Balwyn's The Andalusian targets owner-occupiers with customised floor plans

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Melbourne’s Thomastown is proving to be popular with first-home buyers and investors, with more affordable properties on offer than its neighbouring suburb Reservoir, says Harcourts Thomastown and Epping Director Tony Lombardi.
Located 17 kilometres North of the Melbourne CBD, the median house price in <a href="/news">Thomastown</a> is $370,000, a 23% growth in the past five years, according to RP Data.
Four kilometers closer to the city is <a href="/news">Reservoir</a>, with a median house price of $460,500, a 19.6% change in the past year.
Lombardi says he has seen more sales in Thomastown than at any point in the last two years, with a 100% clearance rate for auctions in the past four weeks.
“All the indicators have been climbing steadily over the past few months but in the last four weeks it has been clear that buyers are now out in force and more people are looking to commit to buying rather than just looking for the elusive bargain,” says Lombardi.
Lombardi says the number of contracts and vendor statements being sent out in the Thomastown region, including Epping and Lalor, has nearly doubled in the past month.
Lombardi says Thomastown’s affordability and proximity to the city are the two major factors that are attracting buyers in today’s market.
“There have been two specific types of purchasers; first-home buyers who are basically buying either a new unit of a smaller sized home or investors.
“Investors have accounted for 50% of sales in the past few weeks,” says Lombardi.
A five-bedroom home at <a href="https://www.realestateview.com.au/Real-Estate/61-main-street-thomastown/Property-Details-sold-residential-5868891" target="_blank">61 Main Street</a> (pictured below) sold under the hammer on August 31 for $510,000 - $150,000 above its reserve.
{yoogallery src=[images/stories/2013/09/18/thom1]}
A four-bedroom home at <a href="https://www.realestate.com.au/property-house-vic-thomastown-114589099" target="_blank">17 Lantana Avenue</a> (pictured below) sold under the hammer on September 14 for $102,000 above its reserve price.
{yoogallery src=[images/stories/2013/09/18/thom2]}
Lombardi says these properties aren’t an example of over-quoting but are located in a sought after area of Thomastown an are an example of a competitive market.
“These properties are located near the new YMCA aquatic centre, they’re walking distance to the train station and shops… location wise, they’re in one of the most sought after areas.
“They attracted around 100 to 150 people at auction,” says Lombardi.
The median apartment price in Thomastown is $293,500 and the median rent is $285, reflecting a yield of 5%.
The median apartment price in Reservoir is $352,500 and the median asking rent is $300, reflecting a 4.4% yield.
“I’ve had a lot of buyers saying they need to get into Thomastown soon, or else they’re going to be priced out of the market.
“I have a feeling the market is going to grow and I believe house prices will grow as a result.
“During the next three to six months I’m forecasting a steady increase in price growth,” says Lombardi.
Harcourts Thomastown and Epping have 56 auctions booked between now and Christmas, with more expected to be scheduled.
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Melbourne's Thomastown popular with investors and FHBs

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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