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Toorak units and apartments experienced the strongest quarterly price growth of 16.1% while South Yarra was the weakest performer with a price drop of 13.0%, according to the latest data released by the Real Estate Institute of Victoria.
The median price for an apartment or unit in Melbourne is $456,000 compared to $449,500 in the December quarter.
“Demand for units and apartments were more subdued with a 1.4% increase in the quarter to a median price of $456,000. A factor in this market is the increased supply in the inner city apartment stock,” says REIV chief executive Enzo Raimondo.
Raimondo says the strongest demand for units and apartments were found in Toorak, Kensington, Kew, Cheltenham, Boronia and Bayswater.
<a target="_blank" href="/news">Toorak</a> had the strongest quarterly growth of 16.1%, taking the December median price of $618,000 to $717,500 in the March quarter.
<a target="_blank" href="/news">Kensington</a> also had a strong quarterly growth of 13.5% with a median unit price of $504,000.
<a target="_blank" href="/news">Kew</a>’s median unit price in the March quarter grew 11.8% to $614,750.
<a target="_blank" href="/news">Cheltenham</a> experienced a quarterly apartment price growth of 10.6%, Bayswater experienced a quarterly growth of 8.4% and Boronia experienced a quarterly price growth of 8.5%.
Meanwhile the city fringe suburbs recorded the greatest price drops this quarter.
<a target="_blank" href="/news">South Yarra</a> experienced the greatest unit price drop of 13.0%, taking the medium price to $520,000 from the December quarter price of $598,000.
<a target="_blank" href="/news">Elwood</a> followed close behind with a price drop of 12.9% and Carlton’s medium unit price dropped 12.5% this quarter.
<a target="_blank" href="/news">Hawthorn</a>’s medium price dropped 10.5% and the Melbourne CBD dropped 7.9%.
<a target="_blank" href="/news">Frankston</a> is the most affordable suburb to purchase a unit or apartment with a median price of $270,000 -  a quarterly growth of 2.7%.
Robert Larocca from REIV says in each suburb, the unit market caters for two diverse types of buyers.
Larocca says the median for this class can and does vary in accordance with the balance of properties sold each quarter. 
“In the case of Toorak, 27% of units sold in the December quarter were priced of $1 million, and in the March quarter that rose to 40%.
Larocca says this is not because more were sold but because fewer of the affordable walk-ups on main roads were sold.
“Clearly the million dollar unit market in this suburb remains in strong demand.”
“These suburbs are not unique, Carlton also has a great diversity with a lot of small student accommodation and very expensive units.”
A two-bedroom, one-bathroom unit on Grange Road in Toorak is listed for sale with an asking price of $650,000.
Featuring a modern kitchen with parquetry floor, the property (pictured below) is <a href="https://www.jelliscraigbm.com.au/property/TOORAK-15/51-53-Grange-Road/4925571/#.UWy133BAt6o" target="_blank">listed</a> by Carly Fetter of Bennison Mackinnon Armadale.
<img alt="reivapril18one" height="310" width="470" src="/images/stories/2013/04/reivapril18one.jpg">
A one-bedroom, one-bathroom apartment in a River Street complex is listed for sale for $430,000.
The designer apartment (picture below) features a terrace and one secure car space.
<img alt="reivapril18two" height="300" width="470" src="/images/stories/2013/04/reivapril18two.jpg">
It has been <a href="https://www.castrangilbert.com.au/index.cfm?pagecall=property&amp;propertyid=2305727&amp;menuItemID=54980&amp;fromListings=true" target="_blank">listed for sale </a>by Phil Butcher from Castran and Gilbert.
Suburbs that recorded less than 25 sales for the quarter were not included in the analysis.</body></html>

ntrotman-Et3xWpamVh

Toorak strongest unit price growth suburb but South Yarra weakest: REIV

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A three-bedroom terrace in Albert Park was the most expensive sale for the second week of April, selling at auction for $4.3 million, according to RP Data. 
Located on St Vincent Place, the property (pictured below) comprises a 492-square-metre block and with no bathroom, is a renovator's opportunity.
{yoogallery src=[images/stories/2013/04/april16stvincent]}
The property was originally part of a three-terrace property owned by the Loreto Sisters, who bought it in 1969.
Prior to the Loreto Sisters purchase, the property had been a Christian Brothers boy's hostel, which closed in June 1967. 
The property changed hands four years ago when acquired by Fiona Olney-Fraser, wife of corporate raider Darren Olney-Fraser, for $10.1 million, who then split the property up into three empty shells.
Westpac took control of the properties in 2010.
<a target="_blank" href="https://www.cayzer.com.au/index.cfm?pn=1&amp;start=1&amp;propertytype=residential&amp;firstsearch=true&amp;contentid=0&amp;listings_maximumpropertyimages=1&amp;contenttypeid=0&amp;usersortid=5&amp;pagecall=listings&amp;justlisteddays=7&amp;propertyaction=sale&amp;suburb_id=136701&amp;formtype=residential">Listing agent Michael Szulc of Cayzer Real Estate Albert Park</a> told Property Observer there were four bidders at the auction and an audience of around 200.
Szulc says the sale provided an opportunity for those wanting to turn the property into their dream home.
The other two terraces, <a href="https://www.cayzer.com.au/index.cfm?pageCall=listings&amp;suburb_id=136701&amp;propertyaction=sale&amp;firstSearch=true" target="_blank">73 and 77 St Vincent Place</a>, will go under later this month.
New South Wales continues to dominate the top 10 most expensive sales list with seven properties listed.
Victoria secured one more position this week in the top 10 sales list, <a target="_blank" href="/news">having only one property on the list last week.</a> The other property was at Alphington. 
The 10 most expensive sales across Australia last week were
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/75_st_vincent_place_albert_park_vic_3206/9183480">75 St Vincent Place, Albert Park, VIC, 3206</a>, three-bedroom house, sold at auction on April 13 by Cayzer Real Estate Albert Park for $4.3 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2_rowe_street_alphington_vic_3078/9207667">2 Rowe Street, Alphington, VIC, 3078</a>, five-bedroom house, sold at auction on April 13 by Miles Real Estate Ivanhoe &amp; Rosanna for $3 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_wallace_street_greenwich_nsw_2065/2637052">20 Wallace Street, Greenwich, NSW, 2065</a>, four-bedroom house, sold at auction on April 13 by Century 21 Blunts for $2.692 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_mort_street_randwick_nsw_2031/5758545">7 Mort Street, Randwick, NSW, 2031</a>, four-bedroom house, sold prior to auction on April 9 by Di Jones Real Estate for $2.52 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_edgecliffe_avenue_south_coogee_nsw_2034/6254837">1 Edegecliffe Avenue, South Coogee, NSW, 2034</a>, four-bedroom house, sold after auction on April 9 by BHR Estate Agents for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/24_russell_avenue_lindfield_nsw_2070/3774423">24 Russell Avenue, Lindfield, NSW, 2070</a>, five-bedroom house, sold at auction on April 10 by Richardson &amp; Wrench Chatswood for $2.311 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/70a_read_street_bronte_nsw_2024/1611560">70A Read Street, Bronte, NSW, 2024</a>, four-bedroom house, sold prior to auction on April 13 by GoodyerDonnelley Real Estate Woollahra for $2.21 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/165_the_boulevard_floreat_wa_6014/12177429">165 The Boulevard, Floreat, WA, 6014</a>, four-bedroom house, sold at auction on April 13 by Airey Real Estate for $2.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37_oatley_road_paddington_nsw_2021/5271856">37 Oatley Road, Paddington, NSW, 2021</a>, four-bedroom house, sold at auction on April 13 by BresicWhitney Estate Agents Darlinghurst for $2.13 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_alexandra_street_hunters_hill_nsw_2110/3002130">3 Alexandra Street, Hunters Hill, NSW, 2110</a>, five-bedroom house, sold on April 10 by Ward Partners Hunters Hill for $2.05 million
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Rare St Vincent Place mortgagee sale in Albert Park attracts four bidders

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RP Data anticipates 1,319 capital city auctions over the coming week, which would mirror the previous week's 1,395 recorded auctions. 
The auction clearance rate last week was 62.7%, which was a slight increase from the previous week's 61.7%.
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This time last year the clearance rate was much lower at 46.8% with a total of 893 auctions across the capital cities. 
Melbourne recorded 610 auctions last week with a clearance rate of 67.5% – an improvement from the week before of 544 auctions and a clearance rate of 63.2%.
The clearance rate for Melbourne this time last year was much lower at 50.8%.
Meanwhile Sydney auction volumes remain virtually unchanged across the city with a total of 530 auctions last week and 528 auctions the week prior.
However, Sydney’s clearance rate grew to 68.6% last week, up from the 66.4% rate recorded the week before.
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National auction volume slightly down this week: RP Data

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The Australian residential market could be on the road to recovery with pre-conditions now existing for the market to grow, according to CBRE.
The Australian Residential MarketView report  for the December 2012 quarter shows an improvement in sales volumes but suggests previous significant growth cycles are unlikely to be seen in the immediate future.
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“A low interest rate environment, modest improvement in building approvals, an increase in population growth, improving rental yields, expanding buyer enquiry levels, sales volumes improving and recent equity market growth are all necessary for a market geared towards recovery,” says CBRE’s regional director of residential valuations Tom Edwards.
Edwards says households will remain focused on debt reduction rather than expanding property holdings, which will deliver a stronger capital growth.
Melbourne remains the star performer in terms of auctions, with a surge in auction listings and a strong clearance rate of 70% over late February.
The clearance rate during the same period in 2012 was around 50%.
However, the report says a recovery in price growth is not evident as buyers remain well informed about realizing pricing levels and are cautious about taking on high levels of debt.
 
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Buyer activity within South East Queensland is improving and the South East Queensland Coastal market is stabilising after a period of very low buyer activity.
“Despite this improvement, indications of capital growth remain largely absent,” says Sam Reilly from CBRE’s global research and consulting team.
Reilly says the lower price brackets in South East Queensland markets are reporting better levels of buyer enquiry and increased levels of stock shortages as demand improves.
In Sydney, the vacancy rate is well below the equilibrium of 3% at 1.9%.
The report says building activity within Sydney is gradually improving however sales volumes are flat as buyers are reluctant to purchase in upper and prestige brackets.
However, Sydney’s Inner West is rebounding, with properties up to $1.2 million subject to a high degree of buying activity.
“Current residential building activity in Sydney is gradually increasing from the subdued conditions experienced during and after the GFC,” says Reilly.
“This is partly in response to stable economic conditions but also as a result of supply shortage that was difficult to rectify due to a challenging planning regime and problems associated with obtaining credit.”
In the west, Perth remains positive with strong economic growth and residential sales improving.
The report says rental growth and levels of investor demand are improving due to low interest rates and stable levels of buyer confidence.
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Perth’s vacancy rate remains tight with Edwards saying this is a strong contrast to most other residential markets across Australia, where employment outlooks are subdued.
Adelaide continues to have low levels of buyer confidence as the state has a subdued economic growth outlook.
The report says the current growth level is sitting well below the national average.
Canberra’s entry-level apartments are the star performers of its residential market and the report notes the federal election has had no effect on buyer activity.
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Australian residential market could be on road to recovery: CBRE

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Regional Victoria’s median house price increased in the March quarter to $311,500, according to the latest data released by the <a target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a>.
“Regional Victoria continued to record steady growth with a median house price of $311,500 (seasonally adjusted) following a 2% increase in the quarter,” says REIV chief executive Enzo Raimondo.
“Median prices increased 3.2% in Bendigo to reach $320,000 contrasting against a drop of 3.4% to $280,000 in Ballarat and a 1.3% drop in Geelong to $390,000,” says Raimondo.
The strongest five performing suburbs include Central Goldfields, Ararat, Baw Baw, Drouin and Traralgon.
Central Goldfields recorded the strongest growth of 27.1% over the March quarter with a median house price of $222,500.
<img src="/images/stories/2013/04/goldfieldsapril15one.jpg" width="470" height="264" alt="goldfieldsapril15one">
Drouin followed with a growth of 25.8% and a median price of $314,500. 
Ararat also recorded a strong growth of 15.7% with the median price growing to $162,000 from the December quarter price of $140,000.
Traralgon grew 7.4% over the quarter to $299,727 and Baw Baw grew 6.6% to a median price of $314,500.
The weakest performing suburb was Newborough with a 25.1% price drop over the quarter.
The median price in Newborough dropped from $247,000 in the December quarter to $185,000 in the March quarter.
Campaspe was close behind, dropping -24.5% over the quarter to $200,000.
Point Lonsdale dropped 23.5% to $562,000 from the recorded December quarter figure of $735,000.
Moe dropped 19% and Bairnsdale dropped -18.4%.
Suburbs with less that 25 sales were not included in the analysis by the REIV.
Photo courtesy of Central Goldfields Shire Council.
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Central Goldfields house prices grow 27.1% over quarter but Newborough weakest: REIV

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The Australian-based contracting firm Leighton Holdings Limited has appointed Peter Gregg as deputy chief executive officer.
Gregg will continue to hold his roles as the chief financial officer and an executive director of the company.
“Peter plays an integral role as chief financial officer in our business transformation program,” says Leighton Holding’s CEO Hamish Tyrwhitt.
“In appointing Peter as deputy CEO I aim to ensure that the pace of progress accelerates as we rebase the business for sustainable growth in 2014 and beyond.”
Tyrwhitt says Gregg will focus on rebasing the operations of the Australian-based contracting subsidiaries and will drive the creation of 'centres of excellence' for the business.
“This restructure creates an appropriate focus on reshaping the Australian business and on driving the growth of our offshore markets through our Leighton Asia, India and offshore business in where we are valued and can extract value,” says Tyrwhitt.
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Leighton Holdings appoints new deputy CEO Peter Gregg

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The median house price in Melbourne jumped 5.1% to $561,500 in the March quarter, according to the latest data by the Real Estate Institute of Victoria.
The seasonally adjusted data shows the median house price rose from $536,500 in the 2012 March quarter – reflecting an annual growth of 4.65%.
It was the strongest March quarter for more than a decade.
REIV chief executive  Enzo Raimondo says the increase in buyers in the December quarter continued through the first quarter of this year with increased volumes, prices, and clearance rates.
“Higher sales volumes were recorded with an estimated 6.4% more sales than the March quarter last year.
“There are a number of factors increasing demand; increasing population growth, improved consumer confidence and overall affordability assisted by lower interest rates.
“High level of residential construction which has provided adequate supply, especially in the outer suburbs housing market and inner city apartment market will act to constrain price growth over the year,” says Raimondo.
Raimondo says the price growth was particularly pronounced in the inner and middle ring suburbs, with Brighton, Balwyn, Balwyn North, Northcote, Doncaster and Camberwell all recording strong growth.
Doncaster experienced the highest growth in the March quarter of 17.2%.
The median house price in December in Doncaster was $708,000 compared to $830,000 in the March quarter.
Brighton followed next with a growth of 12.5% to a median house price of $2 million in the March quarter, the first time Brighton reached this median price level.
Balwyn experienced the third highest growth of 11.4%, taking the median house price from $1.25 million in the December quarter to $1,392,500 in the March quarter.
Balwyn North experienced a price growth of 11.2% this quarter with a median price of $1.09 million.
Northcote’s house pricing grew 9.9% this quarter to a median price of $855,000.
Camberwell’s median house price is $1.4 million in the March quarter, compared to $1,287,500 in the December quarter – a growth of 8.7%.
The weakest six performing suburbs over the March quarter for house price growth include Craigieburn, Glen Iris, Malvern East, Packenham, South Morang and Wyndham Vale.
Wyndham Vale experienced the largest price drop of -13.1% over the March quarter, with Malvern East following with a price drop of -8.5%.
South Morang experienced a price drop of -7.8% and both Packenham and Glen Iris experienced a quarterly price drop of -6.0%.
Suburbs that recorded less than 25 sales for the quarter were not included in the analysis.
Melbourne's median house price fell 0.9% over the three months, according to the REIV which advised has adopted the seasonally adjusted median for overall comparisons as it is less affected by the compositional variations that are particularly pronounced in the December and March quarters.
The $534,000 December quarter figure was revised down from the initial $536,190 median.
<a href="https://www.reiv.com.au/Home/Property%20Research/Median%20Prices" target="_blank">More details at REIV</a>.
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Melbourne experiences strongest March quarter price growth for a decade with 5.1% boost to $561,000 median: REIV

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FKP's $210 million development The Milton, which integrates transport with residential living, is currently 65% sold.
It is the first Transit Orientated Development (TOD) to be released under the South East Queensland Regional Plan.
Located near Milton railway on Railway Terrace – 1.5 kilometres from the Brisbane CBD – The Milton comprises of 298 one-, two-, and three-bedroom apartments across 30 levels.
<img alt="miltonapril12one" height="461" width="470" src="/images/stories/2013/04/miltonapril12one.jpg">
“The exciting notion of TOD has been embraced in major metropolitan centres around the world and we expect The Milton will pave the way for more TOD to be released right across the city,” says FKP Director of Developments Mark Jewell.
The complex will comprise 1,200 square metres of street level retail space, a roof top observation deck with landscaped BBQ areas and a leisure deck boasting a pool and gymnasium.
<img src="/images/stories/2013/04/miltonapril12three.jpg" width="470" height="290" alt="miltonapril12three">
Positioned on the podium level, level six, will be an exclusive Club Lounge with Armani Casa furniture.
One-bedroom apartments range in price from $410,000 to $584,000 and two-bedroom apartments range in price from $675,000 to $938,000.
One and two bedroom apartment range in size from 60 square metres to 97 square metres.
A limited number of three-bedroom apartments have just been released also starting from $675,000.
The development has currently sold 65% off-the-plan apartments, totaling $110 million.
FKP says they have been inundated with enquiries and expect sales to soar in the coming months as these enquiries translate into sales.
<a href="https://www.propertyobserver.com.au/leisure/queensland-based-dbi-design-wins-award-for-abu-dhabi-hotel-etihad-towers/2012012253088" target="_blank">DBI Design will design the Milton’s architecture and interior.</a>
<img src="/images/stories/2013/04/miltonapril12two.jpg" width="470" height="353" alt="miltonapril12two">
“Milton is just two train stops from the CBD, giving residents accessibility and convenience, reducing the reliance on cars and allowing them easy access to destinations right across Brisbane,” says Jewell.
“Milton has historically been one of Brisbane’s most sought-after suburbs and is one of the most undersupplied markets in inner Brisbane.”
“The Milton is meeting demand with its prime location, access to transport and the array of renowned restaurants, cafes and shops along Park Road,” says Jewell.
Brisbane Lord Major Graham Quirk turned the first sod on March 27.
The development is scheduled for completion in 2015.
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FKP's $210 million development The Milton starts construction with renewed buyer interest

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Anka Property Group's launch of its <a href="https://www.propertyobserver.com.au/developments/anka-unveils-%24200-million-development-union-balmain/2013040260079/Page-1" target="_blank">Union Balmain</a> development has secured an immediate 60% sales success.
Of the 202 apartments, 124 sold, with the majority of buyers being owner-occupiers.
Members of the public were lining up at 8am outside the display suite but the launch did not kick off until midday.
<a target="_blank" href="https://www.propertyobserver.com.au/developments/anka-unveils-%24200-million-development-union-balmain/2013040260079">The $200 million residential development</a> is located in the Sydney suburb of <a href="/news">Rozelle</a>. 
Anka's principals Vera and Alex Boyarsky established the firm in 1968 and since then its projects in Australia and overseas have included the 18-storey Chelsea Apartments in Sydney, the Seaview in <a target="_blank" href="/news">Mooloolaba</a>, and Paradise Grove and the Mayfair in Western Australia.
Internationally Anka has also developed retail centres in Seattle and even a resort in Fiji.
One-bedroom apartments range in size from 58 square metres to 113 square metres with a starting price of $625,000.
Two-bedroom apartments range in size from 86 square metres to 147 square metres priced from $860,000.
Three-bedroom apartments range in size from 115 to 249 square metres. They range in price from $1,095,000 to $2 million.
The three-building, six-storey complex will feature a residents-only rooftop park with a communal vegetable garden and BBQ areas.
It has an expected completion date of early 2015.
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Anka's Union Balmain sells 60% of apartments at launch

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A 1930s property renovated by Professor Leslie Wilkinson in <a target="_blank" href="/news">Vaucluse</a> sold at auction last night for $3.26 million.
Auctioneer Andrew Cooley of Cooley Auctions commenced bidding at $2.2 million and, following 27 bids from among the 16 registered bidders, easily sailed past the reserve. The auction crowd were told it was for sale at around the $2.73 million mark, although the reserve was actually understood to be slightly lower than that.
Located on Wentworth Road, the four-bedroom, two-bathroom home sits on a 954-square-metre block.
The property features an internal courtyard and the formal lounge and family room boast high ceilings and open fireplaces.
The home last sold in 1996 for $1.94 million. The renovations took place in the 1970s for the Cole family who owned the house for 39 years.
The 1932 Wentworth Road house holds the distinction of being the last alterations undertaken by Professor Leslie Wilkinson in 1971 for $29,621. It was the home of the founder of the Bondi Beach Cole Classic swimming championship, Graham Cole.
Brad Caldwell-Eyles of 1st City Hasemer and Caldwell-Eyles Real Estate <a target="_blank" href="https://www.1stcity.com.au/Buying/Search/Detail.aspx?id=HCES273&amp;wlid=59166e88-d606-4a79-9a66-7886db285c22">listed</a> the property under instructions from the ANZ Bank who marketed the property with hopes of more than $2.5 million.
The unrenovated house had been the home of developer Jim Lewis of the Byrne Lewis construction company.
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Professor Leslie Wilkinson's last renovation - a 1930s Vaucluse home sells for $3.26 million

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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