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A Canadian/Indian investment group, Maple Leaf Investments Pty Ltd, has purchased a sandalwood plantation in Morbinning, WA for $580,000.
Set on 64 ha, the property at <a id="LPlnk114549" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGWwak8c/diQqOWOqtbiw6DTd1DHxOyluL0X/DsPP0IgA=&amp;rh=ff004d90afd4e008a3a2fadf0d4b84acab24afc8" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Lot 7151 Morbinning Road</a> is east of Beverley in the Wheatbelt region and was successfully sold after two years on the market.
The property was marketed internationally and sold by a Director of Ray White Commercial (WA) and Sales and Leasing Agent Lachlan Burrows.
Mr Burrows said the plantation included a three-bedroom house, additional accommodation, a large shed and machinery, and had more than 4,000 established sandalwood trees, the majority of which were 12-years-old – so ready for harvest in five to eight years.
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“Farm gate prices for sandalwood trees when ready for harvest are currently around $500 per tree,” Mr Burrows said.
“That’s approximately $16,000-$17,000 per tonne for the heartwood oils used in essential oils and fragrance bases, as well as the aromatic timber used for incense and joss sticks. “There’s strong demand for Western Australian sandalwood on international markets due to the aromatic oils found in mature wood, and is seen superior to Indian sandalwood, which has become increasingly rare due to previously uncontrolled harvesting in the sub-continent. “The buyers of the property in Morbinning have appointed a local farm manager and plan to increase the plantation by more than 20,000 trees as soon as possible.”
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Mr Burrows said after the sale and the international interest generated, Ray White Commercial (WA) have been appointed to sell another adjoining property of 63 ha, for $500,000.
“This has around half the number of sandalwood trees, but several hundred are ready for immediate harvest, which’ll provide income for the buyer straight away."
“Ray White Commercial (WA) foresees a growing interest for this class of farm asset locally, nationally and internationally, in acquiring and establishing sandalwood plantations,” Mr Burrows concluded.
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j.ballantyne1990-6AQqhLzZaK

Maple Leaf Investments buy $600,000 sandalwood plantation

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The Australian Tax Office has signalled a crackdown on investment property tax claims.
It comes as a growing number of people top up their exisiting loans, then claim deductions on cash being used for new cars, holidays or to pay down other debt.
Karen Foat, ATO assistant commissioner, told Nine Entertainment it was targeting investment properties as "a top priority" after analysis revealed 90 per cent of rental deductions contained an error.
Foat advised audits scrutinising rental deductions will double this year amid the 2.2 million investment property owners.
The crackdown will look at borrowers who have used their loan account like a regular bank account, with deposits and withdrawals for a variety of private, investment or business purposes.
"If you have a loan that you use to buy an investment property, but then you draw down on the loan and pay for a holiday or car - the purpose of the loan is now partly investment and partly private, meaning that only some of the interest on the loan is likely to be tax deductible," said William Buck tax services director Todd Want.
Mr Want warned another focus will be investors who make one-off deductions for repairs or additions to an investment property that need to be claimed over several years.
Mr Want added: "The key point here is - were the materials the same, or similar and does the repair achieve the same function? If you replace it with something that is superior, then you probably can't claim the deduction, it must be depreciated over a number of years."
He said: "It might not be deductible in the year of replacing it, but instead needs to be depreciated and claimed over time.
The ATO has previously signalled it will also focus on people who do not declare income from short-term rentals or renting part of a house or unit.
Holiday property owners who claim expenses for periods where it not genuinely available for rent, or was used privately, will continue to be closely monitored.
 
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ATO's latest property investment crackdown

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The Liberty Tower apartment block at 620 Collins Street Melbourne has been evacuated by its residents early Sunday evening.
The apartment complex with around 240 units is located on the corner of Collins and Spencer streets, at the southern end of the CBD.
The building manager Carlo Innamorati is advising that the building has been hit by "severe electrical issues."
It is understood there are no lights, heating or working lifts. Nor the the lobby installation of continuous fluorescents suspended below the ceiling designed by the artist Stephen Bram.
It appears the basement was flooded which put the building's electricals at risk. It has been advised there was a burst water pipe.
Click <a href="https://www.propertyobserver.com.au/images/2019/6/22/Liberty%20Tower%20flood.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/6/22/Liberty%20Tower%20flood.JPG" alt="">
The 28 floor apartment complex Liberty Tower was built in 2002 to a design by Elenberg Fraser with its curved aluminium facade.
It was constructed by Mainland Properties/Pan Urban developer turned publisher Morry Schwartz, who moved into the penthouse with his wife, Anna, the owner of Anna Schwartz Gallery on Liberty Tower's completion while they renovated their Carlton home. 
It was described as an $110 million project. The project manager was Baracon Group and the builders were Abigroup Contractors, which was acquired by Bilfinger Berger in 2004.
There are suggestions the electricity has stopped working entirely and will not be fixed for another four days.
Property commentator and <a href="https://twitter.com/PhilipSoos" target="_blank">economist Philip Soos tweeted</a> "residents will have to find other accommodation."
Located opposite Southern Cross Station, and The Age, 25 police were on scene tonight to help co-ordinate the evacuation of hundreds of residents on the coldest Melbourne day this year.
The most recent sale in the high-rise was a two bedroom eighth floor apartment at $520,000, which first sold in 2001 at $267,500. 
Over the holding time of nine years, the annual growth for was a disappointing 1.3 percent.
A ninth floor one bedder sold for $300,000 earlier this year having sold at $315,000 in 2014. It first sold in 2004 at $192,000.
Schwartz, the publisher of The Monthly and Saturday Paper, and his brother Danny recently sold the large retail site at its base, occupied by IGA for $21.55 million.
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Liberty Tower was dubbed one of Melbourne’s millennial landmarks with 238 apartments occupying levels 7 to 27 with 3 levels of sub-penthouses plus one penthouse level. A secure 200 car park is located from podium to level 7. Around the perimeter at ground level there are shops, cafes and restaurants.
Its use of perforated metal balustrading, introduced by Elenberg Fraser was the precursor to Elenberg Fraser use of this type of façade on many future buildings.
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The project become the first of many with Mainland and a long term relationship with Morry Schwartz, Brian Rule and Roger Hart who went to develop numerous Melbourne icons with the Baracon/Elenberg Fraser combination. 
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Liberty Tower, 620 Collins Street Melbourne apartment block evacuated

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Sentinel Property Group has splashed out $103 million on a Brisbane CBD office building - the largest acquisition in its history.
The unlisted real estate investment trust (REIT) bought the building on a net passing yield of 7.85%.
Makerston House at 30 Makerston Street, Brisbane is on an approximately 1,796 square metre site area with about 14,640 square metres of net lettable area over 14 levels.
It is located opposite the Queensland Police Service headquarters and 50 metres from the Brisbane Transit Centre.
The building has a 5 Star NABERS Energy rating and is 100% leased with a 4.63 year weighted average lease expiry (WALE).
The property is leased to the Queensland Government as well as various state government corporate entities.
The building is well positioned within the city, Sentinel Property Group Managing Director Warren Ebert said.
 “This is a fantastic acquisition for Sentinel and is our biggest purchase since the Group started 10 years ago,” Ebert said.
“Makerston House is a tremendous asset that is in the heart of a precinct accommodating the state’s critical legal infrastructure and services, including the Queensland Supreme Court and District Court and the Brisbane Magistrates Court.
“The building is opposite the Queensland Police Headquarters and just 50m from Roma Street Train Station, the only existing CBD railway station that will link to the high capacity Cross River Rail.”
Ebert said Sentinel was excited to make Makerston House the 10th addition to the Sentinel Regional Office Trust.
The Sentinel Regional Office Trust also comprises 11 Argyle St, Newcastle, The CasCom Centre at Casuarina in Darwin, 200 Creek St, Brisbane, 8 Buller St, Port Macquarie, Jacana House and Arnhemica House in Darwin, 139 Grafton St, Cairns, and Central Plaza and River Quays in the Townsville CBD.
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Sentinel secures Makerston House in Brisbane CBD for $103 million

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New tenants are signing up in Sydney’s Moorebank industrial precinct.
More than 135,000 square metres of space in the precinct has been taken up over the past 12 months, CBRE said.
The group said its industrial and logistics team had represented Goodman, an industrial property developer, in leasing approximately 90,000 square metres in the area.
Briggs &amp; Stratton, an American manufacturing group, signed a five-year lease on a brand-new facility spanning 14,500 square metres at the Oakdale South Industrial Estate.  
Aidacare and Permaform have both relocated from other spaces to the former Briggs &amp; Stratton facility on initial five-year terms, with a NLA of 11,443 square metres.  
Rentals in the Moorebank industrial precinct range from approximately $115 - $130 per square metre per annum, CBRE advised.
The recent uplift in tenant activity in Moorebank was being driven by large scale vacancy becoming available in 2018, CBRE’s Tom Rourke said.
“With the IMEX intermodal set to be operational by the second quarter of this year – creating a direct connection and between Port Botany and MLP via a dedicated freight line – many logistics companies are seeing MLP as a gamechanger in the market,” Rourke said.  
“MLP provides a considerable cost advantage over some other industrial precincts such as Botany and Matraville.
“Furthermore, there is also potential for Moorebank to evolve into a last mile location given the reduced truck congestion on the M5 and completion of WestConnex, which will reduce metro delivery times to bring MLP more in line with more established last mile locations such as Homebush and Chullora.”
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Sydney’s Moorebank industrial market attracting new tenants

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The eastern suburbs peaked a little later than the general Sydney market, according to the latest Herron Todd White (HTW) residential report. 
However declines have now caught up with the greater Sydney market, with an 11% fall in the 12 months to April, according to Corelogic.
"At the lower end of the housing market, a recent sale in Botany of a 1900s, three-bedroom, one- bathroom semi-detached dwelling for $900,000 was more than 30% lower than when it sold for $1.3 million in August 2017," the valuation firm said.
The median house price in Botany was down 3.5% in the March quarter to $1.45 million, while the median unit price was down 2.4% over this time to $810,000, according to realestate.com.au data.
The report noted that the eastern suburbs prestige residential market was more resilient than the wider market in 2018, although there are definite signs that market has peaked as well.
The prestige suburb of Rose Bay experienced a 3.4% decline in its median house price in the March quarter to $3,646,500.
 <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/2019/6/19/rose%20bay%202.jpg" alt="">
Units fell even quicker with the median price down to $1,155,000, a drop of 7.6% over the quarter, realestate.com.au data says. 
A 124 square metre apartment in Rose Bay with double lock up garage was sold for $1.56 million in April. 
Set within a small block of four, the top floor apartment at<a href="https://www.realestate.com.au/sold/property-apartment-nsw-rose+bay-130823222" target="_blank"> 4/1 Hamilton Street </a>(pictured above) comprises light-filled living/dining flowing to balcony, Smeg gas kitchen, three bedrooms with built-in and rear communal garden.
The location is just a short walk to Rose Bay village shops. 
"This doesn’t appear to be uniform across all suburbs though, with Bellevue Hill (0.8%) and Vaucluse (7.2%) showing increases in their median house prices during the March quarter," the valuation firm said. 
Despite this, activity in these suburbs has definitely eased with only 13 sales above $5 million in Bellevue Hill as at mid-May compared to 64 for all of 2018.
Vaucluse has had 10 sales compared to 65 for all of 2018, according to PriceFinder.
<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/2019/6/19/vaucluse%20.jpg" alt="">
A pet friendly two bedroom unit set at the rear of a secure boutique block in Vaucluse has recently been sold for $1.1 million.
The unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-vaucluse-131163922" target="_blank">3/8 Burge Street</a> (pictured above) comprises two bedrooms, open plan living/dining, CaesarStone kitchen, and balcony.
It's just moments to village cafes, local shops, parklands and beaches. 
"With some economic concerns both at home and abroad, the prestige market may be a little more volatile as we head into the second half of the year," the valuation firm said.
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Eastern suburbs caught up in the greater Sydney market decline: HTW residential

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Market activity has generally been subdued within inner Sydney over the past six months, according to the latest Herron Todd White (HTW) residential report. 
The report suggests that prices have continued to decline in all but the bluest of blue chip areas.
"Within the CBD itself, unit prices have been declining since 2017, largely due to continued supply and decreasing investor demand," the valuation firm said. 
Realestate.com.au shows a decline in the median unit sale price for the suburb of Sydney from $950,000 in January 2019 to $925,000 in March 2019, after a peak of $1.1 million in 2017.
The perennially oversupplied Green Square area of Sydney (covering parts of Zetland, Alexandria and Waterloo) has also fared badly.
Its median prices fell from $900,000 in January 2019 to $875,000 in March 2019 alone, after a 2017 peak of $955,000, according to realestate.com.au. 
Furthermore the strong supply pipeline is set to continue throughout the next 18 months, with multiple new developments due for settlement, all at a time when investor demand is decreasing.
Median house prices have also been decreasing since the start of the year with inner suburbs on the western side of the CBD such as Forest Lodge.
Its median house price declined from a median of $1.5 million in January 2019 to $1.39 million at the end of the first quarter of 2019.
Realestate.com.au indicates that the median price there peaked at $1.78 million in 2017.
On the eastern side of the CBD, the diminutions have been less severe, with Paddington decreasing from an overall market cycle peak of $2.34 million at the start of 2019 to $2.27 million in March 2019 according to realestate.com.au.
"The inner city has a multitude of property types and price points," the valuation firm said.
"The price point seeing the most value retention in the current market appears to be affordable one and two-bedroom units within suburbs along the city’s eastern fringe, particularly those more suited to owner-occupiers – those in well finished buildings, boutique or well- regarded complexes, with views and parking being particularly sought after.
According to realestate.com.au, units in Potts Point have remained generally stable in price since the start of 2019, with medians of $785,000 in January 2019 and $778,000 in March 2019.
"There have been some weaker results for two bedroom units in trendy Surry Hills." 
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For example 507/437 Bourke Street (pictured above), a two-bedroom warehouse conversion sold for $1.6 million in April 2019 after being purchased for $1,655,000 in April 2016.
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Furthermore, 36/45-49 Holt Street (pictured above), a semi-modern two-bedroom unit within 500 metres walk of Central Station sold for $1,002,000 in March 2019, previously selling for $1.1 million in June 2016.
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Inner Sydney median prices continue to decline: HTW residential

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The Lower North Shore, often a unique market, can fluctuate either way in a hurry, according to the latest Herron Todd White (HTW) residential report. 
The report noted that last year, as the general property market started to weaken, this region was quite resilient and still saw some very positive results.
"This was especially true in the prestige section of the market with higher value properties outperforming the rest of the market and with a record number of sales," the valuation firm said. 
"Now almost half way through 2019, we take stock of which direction this market is headed.
"The affluent suburb of Mosman, the most well known suburb on the lower north shore, is often the best indicator of where the market currently stands."
The most recent statistical data sourced from realestate.com.au, indicates a median house price for April 2019 of $3,782,500.
A recent sale in Mosman was a renovated full brick Federation house (pictured above).
The three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-131171338" target="_blank">41 Countess Street </a>was sold for $3.35 million. 
It comprises master bedroom, two additional bedrooms, media or fourth bedroom, open plan living/dining space, kitchen with breakfast bar, and covered alfresco area. 
It's close to Countess Park, city buses, shops, schools and restaurants. 
"Comparing this price to the median from December 2018, indicated at $3.9 million, we see an obvious weakening trend," the valuation firm commented. 
It would appear that this time around, Mosman is following the trend of the general market cycle, according to the HTW report. 
The prestige sector of Mosman, having experienced a booming few years, also seems to have significantly quietened.
Researching the number of transactions that have occurred over $5 million in Mosman so far in 2019, it appears that there have only been three such transactions in the suburb and none over $10 million, according to CoreLogic data.
"This is in contrast to 2018 where we saw a total of 85 sales over $5 million for the year, 34 of those between January and May," the valuation firm said.
"Local selling agents have indicated that there has certainly been a decline in activity over $5 million, however quality properties are still attracting plenty of interest from genuine buyers."
The unit sector of Mosman usually performs very well and in line with the dwelling market.
With all the talk of over-supply in the form of high-density development, Mosman is partly immune from this issue.
There has been limited high density unit development in Mosman, with most new strata properties being targeted at downsizers.
The report suggests this product is more likely to be lower density and higher quality, aimed at those looking for a low maintenance lifestyle.
The most recent statistical data sourced from realestate.com.au indicates a median unit price for April 2019 of $980,000.
<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/2019/6/19/mosman%202.jpg" alt="">
A two bedroom apartment at Mosman with panoramic harbour and district views was sold for $985,000 in May.
The top floor apartment at <a href="https://www.propertyobserver.com.au/been%20a%20decline%20in%20activity%20over%20%245%20million,%20however%20quality%20properties%20are%20still%20attracting%20plenty%20of%20interest%20from%20genuine%20buyers.%20The%20unit%20sector%20of%20Mosman%20usually%20performs%20very%20well%20and%20in%20line%20with%20the%20dwelling%20market.%20With%20all%20the%20talk%20of%20over-supply%20in%20the%20form%20of%20high-density%20development,%20Mosman%20is%20partly%20immune%20from%20this%20issue.%20There%20has%20been%20limited%20high%20density%20unit%20development%20in%20Mosman,%20with%20most%20new%20strata%20properties%20being%20targeted%20at%20downsizers.%20This%20product%20is%20more%20likely%20to%20be%20lower%20density%20and%20higher%20quality,%20aimed%20at%20those%20looking%20for%20a%20low%20maintenance%20lifestyle.%20The%20most%20recent%20statistical%20data%20sourced%20from%20realestate.com.au%20indicates%20a%20median%20unit%20price%20for%20April%202019%20of%20%24980,000.%20Comparing%20this%20price%20to%20the%20median%20from%20December%202018,%20indicated%20at%20%241.03%20million,%20we%20again%20see%20a%20weakening%20trend,%20generally%20in%20line%20with%20the%20dwelling%20market%20declines%20being%20experienced%20in%20Mosman.%20The%20second%20half%20of%202019%20will%20be%20extremely%20interesting%20as%20we%20see%20what%20direction%20the%20market%20on%20the%20lower%20north%20shore%20takes." target="_blank">37/170 Spit Road </a>(pictured above) comprises open plan living/dining, two double bedrooms, stone kitchen and sunny balcony.
It's within close proximity to Balmoral Beach and Mosman Village with cafes and shops. 
"Comparing this price to the median from December 2018, indicated at $1.03 million, we again see a weakening trend, generally in line with the dwelling market declines being experienced in Mosman," it said.
"The second half of 2019 will be extremely interesting as we see what direction the market on the lower north shore takes." 
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Mosman market quietens as Lower North Shore values weaken: HTW residential 

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The Gold Coast's first penthouse has been sold at auction.
Six bidders competed for the <a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-131241542" target="_blank">four-bedroom apartment</a> in Surfers Paradise’s heritage listed Kinkabool building.
The 10-storey Hanlan Street building was described as a “giant” when it was built in 1960.
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The four bedroom skyhome fetched $450,000 under the hammer last Saturday.
The Kinkabool building has recently had a makeover.
Surfers Paradise First National agent Bob Rollington told the Gold Coast Bulletin the Queensland Heritage Register lists the building as a place of significance because it was the beginning of residential towers on the Coast.
“Built in 1959-1960 at Surfers Paradise, the home-unit building known as Kinkabool was the Gold Coast’s first high-rise and one of Queensland’s earliest, built shortly after Torbreck was completed in Brisbane in 1960,” the description reads.
The report said the building was the starting point for developments of its type, which kicked off tourism in Queensland and gave the Gold Coast an international reputation.
“Kinkabool also illustrates a significant aspect of the evolving character of the quintessential Australian beach holiday,” the site stated. 
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Historic Kinkabool penthouse at Surfers Paradise sold

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The City of Sydney has sold Stockton House in Darlinghurst for around $7 million. 
Miron Solomons, Matt Pontey and Nick Lumley of Colliers sold the property at 73-75 William Street in Darlinghurst, close to Hyde Park on the city fringe.
The three level, 908 square metre building is currently unoccupied, presenting an attractive opportunity to reposition the building and to take advantage of the exceptional position, the agents said. 
“The campaign attracted significant and strong interest with over 80 inspections of the property from a range of developers, investors and owner occupiers both onshore and off,” said Miron Solomons, National Director, Investment Services at Colliers International.  
“Ultimately, the price and unconditional terms proposed by the successful candidate were acceptable to the City of Sydney and has delivered an exceptionally strong result for the City and future of William Street.”  
The sale of Stockton House has delivered a timely outcome for the City as the city fringe commercial office market continues to experience some of the strongest trading conditions with vacancy rates some of the lowest experienced in years, Matt Pontey, Manager at Colliers International said.
“The outcome and candidate that has been successful, will deliver a beautifully appointed commercial asset to the city fringe that will present a unique offering to the leasing market,” said Pontey. 
“This building is a complete blank canvas and a value-add proposition which explains the high interest in this well-located, quality asset.
“There is strong demand for commercial property in the city fringe, evidenced by the auction of Watters Gallery which we sold at auction two months ago for $5.5 million.”
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City of Sydney sells unoccupied Stockton House, Darlinghurst for $7 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" />

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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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