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A Southport, Queensland, mortgagee home has sold for $502,000.
When first listed in September 2018 it had a price guide of $780,000, following multiple reductions and one unsuccessful auction, the home has sold for $278,000 less than what was initially sought.
Clare Brettell Mike Roberts of Ray White held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-southport-131232486" target="_blank">111 Benowa Road</a>, the four bedroom, two bathroom house was sits on a 600 sqm block.
The current home was built in 2015, however the property last sold in 2013, transacting for $270,000 after two and a half years on the market.
In June 2011 the vendors originally sought $399,000, however following numerous asking price reductions, the property eventually settled at it's asking price of $270,000.
Featuring a two car garage, along with three additional parking spaces, the home is close drive to schools, shops, hospitals and other amenities.
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The median price for a home in <a href="/developments/southport-qld-4215">Southport</a> is $546,250 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.5%. 
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j.ballantyne1990-6AQqhLzZaK

Southport, Queensland mortgagee home listing slashed $280,000 and sold

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A Canning Vale, West Australia mortgagee house has been sold for $390,000.
Roger Golos of Professionals Property marketed the property.
Situated at <a href="https://www.propertyobserver.com.au/realestate.com.au/sold/property-house-wa-canning+vale-131485190" target="_blank">14/9 Parnell Way</a>, the abode comprises a three bedroom, two bathroom villa.
Set on 239 sqm, the property was listed for sale at $405,000.
Last sold in 2012, the home transacted for $439,500.
Following the 2012 sale which occurred the year the home was built, the property was listed twice before this successful marketing campaign.
First in December 2014 seeking $519,900 and later in January 2017 when it sought $470,000.
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The median sale price for a unit in <a href="/developments/canning-vale-wa-6155">Canning Vale</a> is $535,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 0.5%.
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Canning Vale, WA mortgagee home sold for $50,000 loss

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A North Ward, Queensland mortgagee home has sold for $160,000, a second consecutive loss following its 2016 sale.
In 2016 the apartment sold for $200,000, a $67,000 reduction on its 2007 sale price.
Lisa Morio and Sally Elliott of Smith&amp;Elliot are marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-unit-qld-north+ward-131308726" target="_blank">4/23 Gregory Street</a>, the property was listed for $175,000, a further fall from it's 2007 sale price of $267,000.
Set on 86 sqm, the property had been put to an auction in late June.
The two bedroom, one bathroom unit is situated minutes from the city.
The property was listed as a rental as recently as 2014, seeking $300/pw a reduction on the $325/pw it sought in 2013.
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The median sale price for a home in <a href="/developments/north-ward-qld-4810">North Ward, Queensland</a> is $525,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -2.3%.
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North Ward, Queensland mortgagee home sold for consecutive loss

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A Wirrabara, South Australia, mortgagee house has been sold for just $45,000.
Wayne White of Wardle Real Estate marketed the home.
Situated at <a href="https://www.realestate.com.au/sold/property-house-sa-wirrabara-119822851" target="_blank">11 Casuarina Street</a>, the property comprises three bedrooms, one bathroom and a shed.
Set on 2,046 sqm, the abode was built in 1956.
Last sold in 2007 the property transacted for $100,000.
Previously, in 2002, it sold for $39,500.
The property spent almost four years on the market, as it was originally listed in October 2015 for $99,500.
The asking price was reduced multiple times to $65,000 before it was successfully sold in late July.
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Wirrabara, SA mortgagee home sold for 45% of previous sale price

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Domain has experienced a doubling in the decline of new web listings as its annual net profit fell 29 percent. 
Nationally, Domain new listings declined around 12 percent, double the 6 percent decline reported in the first half result.
The real estate website lost $6.2 million last year.
It said revenue for the year to June 30 rose by almost 20 per cent to $343.3 million but the bottom line was hit by previously announced impairments of $179 million.
The yearly results show revenue was down 6.1 per cent. The net profit after tax was $37.4 million, down 29.3 per cent.
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Chief executive Jason Pellegrino said it was a solid performance in the context of major listing declines in Melbourne and Sydney.
“For FY19 Domain delivered a solid performance in the context of the challenging year faced by the Australian property market.
"To put this in perspective, property sales as a percentage of Australia's dwelling stock are at their lowest point in more than 20 years."
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 Residential revenue increased 0.5% to around $173 million.
"This is a solid result from Residential in the context of lower listings volumes in key markets, where auction volumes declined around 25% in Sydney and 28% in Melbourne."
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Domain have suggested their proprietary datasets have shown some encouraging signs of buyer activity in the first weeks of FY20, including increased attendance at open for inspections and increased home loan application volumes.
They did noted however that listings volumes remained weak in a seasonally low listings period, with national market new listings declining down 20 per cent in July 2019, with Sydney and Melbourne new listings down 26% and 27% respectively.
Domain's media arm didn't fair much better.
Media, developers and commercial revenue declined around 13 percent for the year.
Pellegrino highlighted financing constraints and other regulatory issues which have shifted market demand from investors to owner-occupiers, and from large high rise developments to smaller boutique projects which require a lower level of marketing support.
Over the financial year Domain acquired CommercialView and increased their stake in Homepass. 
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“During my first 12 months at Domain we have been focused on establishing and driving the strategy which will support our next phase of growth," Pellegrino said.
“Our vision is to build a customer-centric Australian property marketplace. Everyone in our business is working to inspire confidence for all of life’s property decisions.
"There is substantial headroom to step change our performance by using our data to build products and offerings that better meet the needs of buyers, vendors and agents.”
"Domain is better placed than ever to deliver on our growth ambitions. This will be further supported as the market returns to a more positive listings environment.
“Our relationship with Nine provides opportunity to expand Domain’s reach and engagement through Nine’s broadcast and digital assets, and we’re excited about the upcoming launch of a new Your Domain TV show on September 7th.”
Shares rose four per cent to $3 in morning trade. It was at $3.50 this time last year.
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Domain sees decline in new listings double as net profit falls 29 percent

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A Melbourne two bedroom apartment has sold for $580,000 by mortgagees.
John Silburn marketed the property.
The apartment at<a href="https://www.realestate.com.au/sold/property-apartment-vic-melbourne-130740178" target="_blank"> 603/325 Collins Street</a> comprises open plan living and dining, modern kitchen and two bedrooms.
Located in the popular The Mark complex, other features of the apartment include central heating and cooling, on site building manager and two secure lock up storage rooms.
The apartment is only moments from Melbourne’s premier shops and restaurants.
Last sold in 1999, the property traded for $288,912.
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The median sale price for a unit in <a href="/developments/melbourne-vic">Melbourne</a> is $590,000, according to CoreLogic data.
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Melbourne mortgagee apartment listed for $580,000

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A waterfront home on D'Entrecasteaux Channel south of Hobart with views out to Bruny Island has hit the market with $1.65 million hopes.
Jen Levett and John Loveluck of Petrusma Property have the listing.
Set on five acres, the renovated house at <a href="https://www.realestate.com.au/property-house-tas-middleton-131295494" target="_blank">4261 Channel Highway, Middleton</a> comprises master bedroom with water views, two additional bedrooms, open plan living, multiple outdoor dining and coffee nook and established garden.
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Other features include wrap around deck, Eureka Woodheater, multiple sheds and 300 hazelnut trees plus around 130 fruit trees.
There is plenty of room for sheep or cows. 
It's a 45 minute drive to Hobart and 30 minute drive to Kingston Central. 
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Waterfront trophy home on D'Entrecasteaux Channel listed 

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EXPERT OBSERVATION
A robust update but participation hit a new record high at the same time. So while the employment growth continues to outperform expectations the unemployment rate is very sticky around 5.2%.  As such, it is hard to see unemployment getting below 5% any time soon, let alone getting down the RBA’s natural rate of 4.5%.
Westpac is forecasting the unemployment rate to rise from here on the back of a soft patch in employment.
In the past year the largest share of employment gains have been for full-time females, male full-time employment has grown slower than total employment, suggesting employment gains remain focused in the services industries that are rich in female employment.
This update gives us comfort that the RBA will opt to wait-and-see at the September Board meeting and leave the cash rate unchanged.
The July Labour Force Survey reported a 41.1k gain in employment. As we head into the second half of the year, employment remains quite robust with a three month average gain of 28k in July, unchanged from June and slightly down from 35k in May.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/westpac%201.jpg" target="_blank">Click here</a> to enlarge: 
 <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/2019/8/15/westpac%201.jpg" alt="">
The May survey reported a strong +45.2k gain in employment with participation surging to a new record high of 66.1%, boosting the labour force and therefore holding unemployment flat at 5.2% despite the strong gain in employment. 
Since then, while the month to month employment gains have been volatile, the trend remains robust and unemployment has been flat at 5.2%.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/westpac%202.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/15/westpac%202.jpg" alt=""> 
In the year to July, employment has grown 333k or 2.6%. The pace of employment growth has eased back from 2.9%yr in May but it is still stronger than the 2.2%yr at the end of 2018, while the six month annualised pace has was flat at 2.4%yr. 
Our Jobs Index suggests employment should be growing around 2.4%yr currently before slowing to 2.1%yr through Q4.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/westpac%203.jpg" target="_blank">Click here </a>to enlarge: 
 <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/2019/8/15/westpac%203.jpg" alt="">
We think it is worth noting that June employment was revised to –2.3k from +0.5k with June now recording the first negative print on employment in three years. 
In July, unemployment was flat at 5.2% (5.23% at two decimal places - it was 5.24% in June) with participation rising to a new record high of 66.1% (66.06% at two decimal places from 65.96% in June) the labour force grew a very solid 41.9k.
We had expected that a soft employment print would have been associated with a moderation in participation so we are not surprised that a robust employment gain is matched by a lift in participation.
Today’s update is further confirmation of a robust upward trend in participation, but there was a shift on which state is in the driving seat.
NSW hit a record high of participation of 66.2% in May and has since eased back a bit as has Victoria, which leaves Qld supporting the more recent gains in participation.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/westpac%204.jpg" target="_blank">Click here </a>to enlarge:
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In June we were surprised by the drop in underemployment (those employed who are willing and able to work more hours) which fell 0.4ppts to 8.2%. 
Underemployment did not improve as much as unemployment through 2018 and had recently been trending higher compared to the unemployment rate. But in July, underemployment bumped back up to 8.4%, still down on the 8.6% in May but it did help to lock in a stronger trend.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/westpac%205.jpg" target="_blank">Click here</a> to enlarge: 
 <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/2019/8/15/westpac%205.jpg" alt="">
Underemployment lifted in both NSW and Victoria (from 7.5% to 7.9% and 7.9% to 8.5% respectively) while it fell in Queensland and WA (from 8.6% to 8.5% and 9.6% to 9.4% respectively).
We note how high underemployment is in Victoria compared to unemployment — unemployment is well below the national average (4.8% vs. 5.2% nationally) whereas the underemployment rate of 8.5% is higher than the national average of 8.2%.
In the last year to July, the gains in employment have mostly been full-time (255.6k/3.0%yr) and with females gaining slightly more than males (153.8k/4.9%yr for females, 101.8k/1.9%yr for males).
The mix is interesting as female full-time employment has lifted 153.8k (4.9%yr) in the year while male fulltime rose 101.8k (1.9%yr).
In contrast male part-time employment has lifted 59.2k in the year (4.8%) while female part-time grew just 17.8k (0.6%yr).
It does appear that employment gains continued to be focused in the services sectors that are rich in female full-time employment positions.  
<a href="https://www.propertyobserver.com.au/images/2019/8/15/westpac%206.jpg" target="_blank">Click here </a>to enlarge: 
 <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/2019/8/15/westpac%206.jpg" alt="">
Employment growth has held together and has been quite robust so far in 2019 with the July update suggesting the pace of growth may be picking up — somewhat unexpectedly given the softening leading indicators.
Unemployment is flat around 5.2% but underemployment is drifting higher as the employment to population ratio has held around 62.5% to 62.6% since April highlighting that the gains in employment have only been pacing the gains in working age population.
In the year to July, employment has grown 161.4/4.0%yr in NSW compared to 97.8k/3.0%yr gain in Victoria. Employment grew more modestly in Queensland (57.8k/2.3%yr) and just 6.9k/0.8%yr in SA and slight better in WA with 19.5k/1.5%yr in WA.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/westpac%207.jpg" target="_blank">Click here </a>to enlarge: 
 <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/2019/8/15/westpac%207.jpg" alt="">
Since December the unemployment rate has risen 0.1ppt in NSW to 4.4% (the national low), +0.6ppt in Victoria to 4.8% with a smaller 0.3ppt in Queensland at 6.4% but a solid 0.9ppt lift in SA to 6.9%, the highest unemployment rate in Australia.
The only state to record a decline in unemployment from December is WA where it fell –0.4ppt to 5.9% which is still above the national average.
For complete chart pack <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/August/JulyLabour-FI_chart_pack.pdf" target="_blank">July Labour Force Chart Pack (pdf 334kb)</a>
JUSTIN SMIRK is ‎a senior economist for Westpac
 
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Labour force data will leave the RBA on the sidelines next month: Justin Smirk

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German shop fixtures and shelving manufacturing giant Wanzl is moving its Australian headquarters to the Hawthorn East.
Fitzroys agent Chris James negotiated the five-year lease with options at 1 Hall Street at $128,750 per annum with 3% annual increases, on behalf of Cadence Property Group.
Wanzl’s local arm will move into a 540 square metre office and warehouse facility that is part of a 1,625 square metre industrial building, on a 1,650 square metre site at 1-5 Hall Street with three frontages.
Headquartered in the Bavarian town of Leipheim, Wanzl is the world’s largest manufacturer of shopping trolleys.
It also produces shop and supermarket fittings, shelving and entrance gates.
James said Wanzl Australia will be moving from their current premises on Highbury Road, Burwood to Hall Street, a short distance from the headquarters of major supermarket Coles.
“Growth in online shopping has brought with it demand for broader product ranges and more efficient delivery times, increasing requirements for logistics systems and facilities,” he said.
“This has prompted a surge in new warehousing developments, and existing facilities are being refitted for efficiencies and expanded capacities to cater for the evolving requirements of logistics and distribution centres.”
James said Wanzl’s move to the area adds to a roll call of major retail names in the area including Kookai, Bunnings Warehouse, Gazman, and Kennards Self Storage, as well as Coles.
“Melbourne’s inner-east offers close proximity to CityLink and the Monash Freeway, which has become a necessity for logistics and warehousing.”
James and Fitzroys colleagues Jordan Ceppi and David Bourke negotiated the $6.5 million sale of the entire facility at 1-5 Hall Street to Cadence Property Group in May.
The developer and fund manager will use the balance for its new headquarters.
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German shopping trolley giant Wanzl takes Hawthorn East lease

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Domain Group has launched a new school-based search experience allowing property-searching parents to search by school name.
It is aimed at parents with specific schools or school catchments in mind to access school information in their property search.
When parents search by school names, they will get access to up to date information such as school types, gender mixes, and properties for sale or rent within the school catchment. 
Maty Paule, Chief Product Officer at Domain, commented that 50% of the parents told us that nothing was "more important than being able to send their kids to a certain school, or to be confident in the school catchment areas around their new property".
"Properties within highly-regarded school zones can boost house prices, and the information parents attain when they search by school names on Domain can add depth to their property decisions in the long term," he said.
Search by school name on Domain will enable parents in Australia to:
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Find properties to buy or rent that meet specific criteria and are located within desired school catchments. 
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Immediately see which school catchment their property falls in, along with a list of nearby government and non-government schools. 
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Access important information for schools across Australia, including location and catchment maps, school types, gender mixes and year ranges. 
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View travel times from a property to a school by car, public transport and walking during the busy morning drop-off.
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Domain launches school-based search for property-hunting parents

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]

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