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The Richmond-Tweed region has seen sales activity fall over the last couple of years, with dwelling sales down 14 per cent over the year to February 2019, according to the latest CoreLogic Regional Report.
The report reveals challenging property market performance across Australia’s regions, with falling sales activity in the twelve months to February 2019.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/richmond%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/2019/6/4/richmond%201.jpg" alt="">
Source: CoreLogic
Home values are lower year-on-year with house values down -1.3 per cent per cent over the year to March 2019, while unit values are -1.9 per cent lower over the same period.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/richmond%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/2019/6/4/richmond%202.jpg" alt="">
 
Source: CoreLogic
 
Looking at the Richmond-Tweed rental market, the advertised rental rate for houses and units increased by $20/week and $10/week respectively over the 12 months to March. 
The average time it takes to sell a home across the region has increased by 7 days for houses and 2 days for units, while the average vendor discount has also increased for both houses and units when compared to February 2018.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/richmond%203.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/6/4/richmond%203.png" alt="">
 
Source: CoreLogic
<a href="https://www.propertyobserver.com.au/images/2019/6/4/richmond%204.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/2019/6/4/richmond%204.jpg" alt="">
Source: CoreLogic
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j.ballantyne1990-6AQqhLzZaK

Richmond-Tweed regions see rental rates increase: CoreLogic

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Sales volumes across the Sunshine Coast have fallen -15 per cent to 9,329 over the 12 months to February 2019, with current volumes 14 per cent below the five year average for the region, according to the recent CoreLogic Regional Report.
The report reveals challenging property market performance across Australia’s regions, with falling sales activity in the twelve months to February 2019.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/sunshine%20coast%201%20.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/2019/6/4/sunshine%20coast%201%20.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/4/sunshine%20coast%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/2019/6/4/sunshine%20coast%202.jpg" alt="">
Source: CoreLogic
Looking at home values, house values are down -1.6 per cent over the year to March 2019, while unit values increased by 4.0 per cent over the same period.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/sunshine%20coast%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/2019/6/4/sunshine%20coast%203.jpg" alt="">
 
<a href="https://www.propertyobserver.com.au/images/2019/6/4/sunshine%20coast%204.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/2019/6/4/sunshine%20coast%204.jpg" alt="">
Source: CoreLogic
 
Advertised rental rates for both houses and units increased year-on-year, up $10/week for houses and $5/week for units. 
The average time on market for a Sunshine Coast house remains in line with February 2018, while the average unit is selling 3 days faster year-on-year. 
Vendor discounting has increased slightly for both houses and units across the region.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/sunshine%20coast%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/2019/6/4/sunshine%20coast%205.jpg" alt="">
 
Source: CoreLogic
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Sales activity falls across the Sunshine Coast: CoreLogic 

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The Sunshine Coast has reached the peak of market position on the HTW commercial office property clock for June, according to valuation firm Herron Todd White latest report.
HTW also stated that both Melbourne and South East NSW both remained in the peak position.
Meanwhile the Mid North Coast dropped a notch to the starting to decline market position, joining Gold Coast, Lismore and Coffs Harbour.
Echuca and Alice Springs have remained unmoved in the declining market position. While South West WA remains near the bottom of the market.
Three capital cities remained in a bottom of the market position, Darwin, Perth and Hobart.
They are joined by Cairns, Gladstone, Launceston, Mackay Rockhampton and Townsville.
Click <a href="https://www.propertyobserver.com.au/images/2019/6/7/June%20Office%20Clock%20HTW.JPG" target="_blank">here</a> to enlarge.
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Emerald and Toowoomba have joined Adelaide and Mildura in the start of recovery position.
Ballarat held steady as a rising market while Sydney, Brisbane and Geelong are a notch above in the approaching peak of market position.
The HTW report authors said, "Commercial real estate had mixed results across the country in the past six months, but among the options for buying in this sector, office holdings are considered one of the safer choices."
"That said, not all office markets are the same."
"This month’s submissions paint a picture of varying performance so far this year," they concluded
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Sunshine Coast's office market reaches peak of market: HTW June Office Clock

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Luxcon Group has confirmed that Harris Farm Markets will be the anchor tenant of their $75 million Rose Bay development The Aristocrat of Rose Bay
Construction on The Aristocrat is underway and on track for completion in early 2020.
Occupying the full ground floor, the store will serve as the backbone to the emerging Rose Bay Village precinct along Old South Head Road.
Alongside this announcement a further selection of residences within The Aristocrat at <a href="http://www.biller.com.au/4431518/" target="_blank">62A Dover Road</a> have been released. 
A number of apartments in the project have been sold since the launch in late 2018, including one of three luxury penthouses.
Designed by PBD Architects, and the second in Luxcon’s ‘Limited Edition Collection’ portfolio, The Aristocrat of Rose Bay features 24 two and three bedroom residences and penthouses. 
The two bedroom apartments come with one parking space and are being offered at the $1.85 million price point, while the three bedroom apartments which come with two parking spaces are being offered for around $3.5milliion
The residential facilities on offer include, a sparkling lap pool, relaxation cabanas and landscaped garden with outdoor exercise area. 
Managing Director of Luxcon Group, Ilya Melnikoff, said, “the Aristocrat is offering the complete luxury lifestyle package in a unique development."
"I think it will change the face of this neighbourhood village and hope will create precedent to what streetscape should look like in terms of quality of architecture."
Selling agent Paul Biller said he's confident that The Aristocrat will become one of the most sought-after addresses "not just in Rose Bay but in Sydney”
Luxcon are currently offering a virtual reality experience at their display suite, this offers clients the ability to 'walk around' their future home.
A <a href="https://www.propertyobserver.com.au/https://vimeo.com/338591867" target="_blank">teaser</a> of the virtual reality experience is also available, (Password: lux123).
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Harris Farm Markets to anchor The Aristocrat in Rose Bay

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A Noosa Heads architecturally-designed home with panoramic water and mountain views has been listed for sale with $2.3 million hopes. 
Adam Watts and David Conolly of Century 21 Conolly Hay Group have the listing. 
Hand-crafted by Ken Robinson Architects, the coastal home at 13 Allambi Terrace features contemporary style living including remote-controlled bi-fold doors and a soaring Vergola roof.
The lower level comprises two bedrooms, bathroom, and rumpus room opening out to the pool and poolside decks. 
<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/2019/6/5/noosa%202.jpg" alt="">
The mezzanine level completes with master suite with walk-through robe and resort-style ensuite.
Downstairs, it comes with a kitchen with Miele appliances, living space with open fire, dining room, and casual alfresco space with BBQs. 
<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/2019/6/5/noosa%203.jpg" alt="">
Additional features of the home include wine store, gym, powder room, double garage with internal access, plus a contemporary office or 4th bedroom with soaring walls of windows.
It was sold at $2.4 million in 2017 and $2.1 million in 2015. 
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Noosa Heads coastal home with panoramic views listed

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With Sydney CBD office vacancy tightening to 4.1% as of January, CBD office rentals have continued to drastically increase over the past two years and remain at record highs, according to the latest Commercial Property Market Report from Herron Todd White.
The property valuation firm found, owner-occupiers remained the dominant market participants when it comes to strata office stock, as they attempt to reduce their occupancy costs and invest in what is anticipated to remain a strong market into the foreseeable future.
The combination of owner-occupiers looking to secure office assets combined with the lack of available stock on the market has seen capital values for B and C grade strata office stock continue to increase, with building records continuing to be commonplace.
HTW analysts noted Noonan Property’s April 2019 sale of the 95 square metre Suite 202 at 234 George Street for $1.585 million (reflecting $16,684 per square metre of lettable area) to an owner-occupier who had apparently missed out on a number of other suites in previous weeks highlights the strength of the market force of owner-occupiers."
"Prior to this sale, the last suite to sell in this building and a superior overall asset was the 110 square metre Suite 802, which sold in March 2018 for $1.66 million, reflecting $15,091 per square metre."
"We anticipate owneroccupiers will remain the driving force of values for strata stock throughout the CBD for the foreseeable future, with rents anticipated to remain strong and supply remaining at a minimum in the short term," they said.
With completion of the Wynyard upgrade and Light Rail project along George Street progressing, construction noise beginning to reduce and hoardings starting to be removed, the future of Wynyard and George Street is beginning to take shape.
They consider the face lift to both Wynyard and the overall streetscape of George Street (along with the obvious transformation in accessibility through the CBD) will only further increase the appeal of offices in these precincts.
The southern precinct of the CBD is also anticipated to benefit from increased accessibility following the opening of the Light Rail, seeing the precinct become fully integrated into the prime CBD areas. With vacancy at 6.9% as at January 2019 (source: Property Council Australia) and rents significantly lower than those of the city core, the southern precinct shows the most potential for growth over the short term.
The valuers noted, "outside of the CBD, Parramatta remains the best performing secondary CBD in the country, with vacancy at 3% as at January 2019 (source: Property Council Australia), primarily driven by low supply additions and the draw of more affordable rentals than the CBD."
"While 148,000 square metres is currently under construction across four sites and is all due to come online over the next two years, pre-commitment for this space is at 90%, so vacancy is unlikely to soften significantly."
"The opening of the Metro North West Line on 26 May provides a significant increase in accessibility to the secondary office precincts of Norwest and Macquarie Park, as well as an additional line of access to Chatswood, increasing the overall appeal of these secondary precincts."
"Across Sydney, we are seeing strength in the commercial office market that is encouraging given the softening of the residential market. The strength of the market has been primarily driven by limited stock and infrastructure improvements and is anticipated to remain strong for the time being," they concluded.
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Sydney CBD office rentals remain at record highs: HTW Commercial

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The Melbourne office market vacancy rates, in particular in the Melbourne CBD, city fringe and inner east, are lower than the long-term average vacancy levels and are anticipated to further decline in the second half of 2019, according to the latest Commercial Market report from Herron Todd White.
The Melbourne CBD’s overall office vacancy rate was at 3.2% in January 2019, the lowest of all of Australia’s CBDs. according to the Property Council of Australia’s Office Market Report. 
According to HTW's property valuation reporters, there is limited new supply and available stock in the market until 2020. 
The robust leasing market is also being fuelled by healthy tenant demand driving strong rental growth in both face and effective levels.
Due to the rise in CBD rentals, the city fringe precinct continues to gain popularity from the creative, technology and professional services sectors.
Tenant demand is also strong in the inner east markets, particularly in highly soughtafter suburbs such as Richmond, Cremorne and Hawthorn. The inner east has a vacancy rate of 3.58%, the lowest amongst all of the metro precincts in Melbourne.
The June report stated, "It is expected that rental growth will continue for the remainder of 2019 in these precincts for well-located, good quality stock. Sales demand is particularly strong for well-located, land-rich investment assets."
"A circa 1990 double storey office building at 79-83 High Street, Kew (pictured in title) sold off-market ahead of the launch of an EOI campaign for $19 million in April 2019, reflecting a passing yield of approximately 6.2%. The property comprised 19 strata units with a total lettable area of approximately 3,361 square metres situated on a 3,760 square metre Commercial 1 zoned land allotment."
"The building had 10% vacancy and was sold to fund manager, Terraplex, with intentions to refurbish the building and potentially add extra floor space," they noted.
In the outer suburban market, the sale at 347-351 Burwood Highway, Forest Hill represents the largest metropolitan office transaction this year.
The property was sold to an adjoining owner, a Melbourne based developer, for $45.85 million in April 2019.
The property is situated opposite the Tally Ho Business Park and comprises a 2.62 hectare Commercial 1 zoned allotment improved with two office buildings with a combined net lettable area of approximately 10,692 square metres.
The property is approximately 70% leased to a variety of tenants including NEC, Bolton Clarke and Hamilton Morello.
The HTW valuers said, "we highlight that the purchaser elected to purchase the property as is without a 30% rental guarantee from the vendor and without deduction of outstanding incentives. The property has a WALE (by income) of 3.4 years and a reported reversionary yield of approximately 7.32%."
"The relatively low yield for an asset of this nature with sizeable leasing risk demonstrates the confidence buyers currently have in the Melbourne metropolitan office market."
"Due to the slowdown in the residential market and tightening lending criteria, demand for development sites within the inner suburban region has declined somewhat, however we are aware of ongoing, albeit subdued demand from developers seeking to secure well located sites to establish mixed use developments within close proximity of neighbouring retail strips, amenities and public transport."
"It is uncertain when residential market conditions will begin to recover and purchasers are cautious that any future downturn in economic activity may lead to a reduction in demand and market value, however we note that demand for commercial development sites, particularly sites with holding income, is strong in inner city areas such as Richmond, Cremorne and South Melbourne where developers are intending to deliver commercial office projects instead of apartment projects in the current market to capture the strong office leasing and sales conditions," they concluded.
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Melbourne CBD office vacancy rate lowest in Australia: HTW Commercial

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The Canberra office market maintained a steady pace through the first half of 2019 with a stable market benefiting from low unemployment, continued low interest rates and a strong local economy, according to the latest commercial report from property valuation firm Herron Todd White.
The report found, demand for leasing deals has continued to show strength with good levels of enquiry from tenants evolving into leases at Childers Street and Moore Street in the CBD, both tenants securing sub-3,000 square metres.
The A grade market has a vacancy rate of 1.7% and due to a lack of new stock in the short term, the market is anticipated to see a further drop in vacancy levels whilst construction of new premises is underway with completion due in 2020.
Rents for A grade space are averaging between $405 and $475 per square metre.
The valuers stated, "secondary B grade stock continues to reflect increased vacancy levels, currently at 13.9%, which will rise as a result of the relocation of both Home Affairs to the airport and the ACT Government to the CBD and Dickson with pre-commitments for the new space due in 2020."
"Recent sales volumes have been down on previous years however demand is persisting mostly from institutional and foreign investors with five-year plus WALEs and national tenants being features sought after by investors."
"Yields are 6% to 8% for prime buildings and 6.75% to 10.75% for secondary grade. Secondary space rents are around $300 to $330 per square metre," they concluded.
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Canberra office market remains stable with strong demand: HTW Commercial

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For many years, the Brisbane commercial market has largely gone under the radar in comparison to its southern counterparts…until now and according to the latest office report from property valuation firm HTW is now on the cusp of a major transformation.
The Herron Todd White report notes however, it will be a five-year project on the pathway to transformation into a world class city, with this fact being increasingly recognised in the commercial markets where there are increasing levels of interest in high quality commercial properties within Brisbane from Australian and international investors.
This has been evidenced by yield compression and strong capital growth over the past three years.
Yields which were solidly in the 6.75% to 7.25% range previously are now pressing downward into the 5.5% to 6.5% range, whilst capital growth of up to 30% has been recorded against some prime quality properties.
Against this backdrop however, the market is still plagued by persistently high vacancy rates, particularly in the B grade category and below.
This is holding back real rent growth and significant change in rents is not likely until Prime and A grade vacancies push lower into the single digits.
Recent leasing statistics released by Property Council of Australia have indicated that total vacancies in the CBD have contracted to a five year low of 13% as at January 2019.
The property valuers said, "Prime and A grade vacancies however are now at 10.4% and 9.9% respectively, and heading down."
"Gross face rents have stabilised with some assets seeing effective rents increase as incentives very slowly start to wind back, however vacancy rates remain high for secondary stock and face rents will continue to be flat as vendors compete to secure tenants."
"It is likely we will see a further widening in rentals between Prime or A grade and secondary accommodation," they added.
The fringe CBD leasing market is now largely dominated by the prime office precincts of Fortitude Valley (RNA, King Street precinct and Ann Street), Newstead (in and around Gas Works) and South Brisbane, according to the report.
Vacancy rates for fringe markets overall remain high at circa 14.8% but the better regarded precincts of South Brisbane and the Urban Renewal area are doing better at 10% and 14.2% respectively.
The report stated, "On the whole, fringe markets have been impacted by high vacancies in the CBD, but the Urban Renewal area is likely to continue to dominate the larger leasing and sale transactions."
"On the rental side, gross face rents appear to be increasing for premium buildings with some new leases reported at above $650 per square metre gross face. Incentives are also stabilising for prime assets."
"Conversely, secondary fringe CBD leasing markets are still oversupplied as tenants seek newer accommodation that is within close proximity of transportation and good retail amenities."
"Milton and Spring Hill commercial precincts continue to remain out of favour with tenants as vacancy rates continue to be the highest recorded for the fringe (21.5% and 17% respectively). These vacancies may present opportunities for re-purposing of some buildings in these areas," they noted.
There have been a significant number of quality commercial office listings in the first half of this year across the CBD, fringe CBD and inner-city areas.
Whilst many transactions are yet to transpire, there is reportedly strong interest being generated for well leased investment assets on both a local and interstate level.
"We believe some of these assets will likely achieve strong sale prices, as interstate investors priced out of Sydney and Melbourne see exceptional value in Brisbane (broadly speaking, there is a 150 to 250 basis point differential between Sydney or Melbourne versus Brisbane)," the valuers concluded.
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Brisbane CBD on the cusp of office transformation: HTW Commercial

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Mildura has seen a lower volume of rural sales during the first half of 2019, which is not surprising given the extremely dry start to the year, according to Herron Todd White's latest rural report.
The financial valuation firm found, there is evidently still demand for better standard rural assets, and the sales which we have seen suggest values are holding at similar levels to 2018.
Time Lane, the Rural Director of HTW, wrote "A well managed 131-hectare wine grape vineyard located to the north of Mildura has recently sold at levels which show an average $32,250 per hectare for the area planted to vines."
"The vineyard has a history of good yields and relatively low costs, but also contains a high percentage of Chardonnay, which currently offers lower returns per hectare than most other varieties," he said.
The lower Australian dollar is helping maintain stronger prices for wine grapes and HTW say there is a feeling of optimism that returns will continue to improve.
The table grape industry has enjoyed another successful harvest, with fruit quality mostly good and strong export prices.
The valuers said, "we expect to see growers continue to plant new varieties, which will see ongoing demand for the remaining vacant land parcels in the irrigation districts."
"A corporate buyer recently acquired an 85-hectare aggregation in the Red Cliffs district, planted mostly to table grapes," they concluded.
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Mildura rural market sales activity down: HTW Rural

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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