j.ballantyne1990-6AQqhLzZaK

Prospects of another soft economic quarter: Alan Oster

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The retail premises of of Lorna Jane on Hastings Street, Noosa Heads has been sold.
The $5.06 million sale was negotiated by CBRE’s Brendan Robins and Ryan Parry on behalf of the vendor, a private NSW based investor.
Mr Robins said, “the offers to purchase campaign attracted over 30 enquiries from qualified investors, with the sale price translating to a yield of 5.25% and a rate of $44,779 per square metre.”
With an NLA of 113sqm, Shop 1 at 55 Hastings Street, Noosa Heads is leased to Lorna Jane Pty until August 2022 with a five-year option and has a net rental income of $265,533 after land tax deductions.
Featuring a 9 metre frontage to Hastings Street, it also has 2 car spaces. 
In 2007, Mr Robins managed the sale of the same property, then tenanted by Hugo Boss, for $4.65 million.
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Lorna Jane retails premises on Hastings Street, Noosa sold for $5.06 million

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EXPERT OBSERVER
Approvals for new detached houses across Australia have sagged to their lowest level since June 2013.
Building approvals in April 2019 indicate that the number of approvals for all categories of new dwelling fell by 4.7% during the month. New detached house approvals dropped by 2.9% while the volume of approvals for apartments/units saw a 7.2% fall. Total approvals are now down by 24.2% over the past year.
Since the beginning of the new home building downturn in late 2017, the bulk of the pain has been concentrated in the high density segment of the market. 
With today’s figures now showing detached house approvals at a 6-year low, it is ominous that the weakness in new home building is spreading to those parts of the market which are traditionally more resilient during downturns.
Obviously, these figures relate to the month immediately prior to the federal election and the political uncertainty which was then at play has contributed to the weaker results for April.
Now that there has been a clear conclusion to the federal election, a real opportunity exists to push home building activity back in the right direction. 
Many significant infrastructure projects have been announced by government over the past year. Speedily converting these announcements into real, visible activity on the ground would provide a major boost to the building industry, the wider economy and confidence more generally.
During April 2019, the number of approvals for new home rose in Queensland (+11.3%), followed by the ACT (+7.7%) and New South Wales (4.8%). 
The largest drop in new dwelling approvals affected Tasmania (-19.1%) followed by Victoria (-16.1%). There were also falls in new home approvals in Western Australia (-6.7%), South Australia (-3.3%) and the Northern Territory (-2.0%). 
SHANE GARRETT is Master Builders Australia’s Chief Economist
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Detached house approvals reach six year low: Shane Garrett

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Greater Bank has announced it will slash its 1-year fixed home loan for owner-occupiers paying principal and interest by 0.50 per cent to 2.99 per cent.
The cut makes it the first bank to go below 3 per cent ahead of the RBA’s meeting on Tuesday.
Greater Bank is dropping several fixed rates, including its 2-year fixed rate to 3.39 per cent, and both the 4- and 5-year fixed rates to 3.64 per cent, which will be the lowest available rates on RateCity for all three loan terms.    
The rate cuts take effect on Monday 3 June. 
Bank of Queensland will also cut its 2-year year fixed rate to 3.44 per cent, and 3-year fixed home loan rate to 3.39 per cent for owner-occupiers, effective tomorrow. 
Today’s updates from Greater Bank and Bank of Queensland follows ING’s and NAB’s announcements made in the past 24 hours, as fixed rate cuts continue to flow in thick and fast. 
<img src="https://www.urban.com.au/images/2019/5/31/New%20rates.JPG" alt="">
St George and Bank of Melbourne have announced cuts to fixed rates.
Canstar’s finance expert, Steve Mickenbecker noted interest rates for interest only loans to owner occupiers lead the market across all terms.
“Fixed rate cuts are becoming frenzied, with falling wholesale funding costs and the overwhelming expectation of RBA rate cuts.
"Lenders are well ahead of the RBA curve.
“Who would have thought a rate starting with a 2 was possible? Certainly nobody born before 1970 who lived through ‘the recession we had to have’ and rates approaching 20%.
"Nor did most commentators two years ago, who were expecting rates to be on the way up by now," he said.
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Greater Bank goes below 3 per cent: RateCity

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LandMark White has claimed it is the victim of a saboteur hellbent on destroying the listed valuation firm after it was hit with another data leak.
The company told the ASX that valuation and related commercial documents had been uploaded to international document sharing site SCRIBD.
"Someone is trying to destroy the company," chairman Keith Perrett told Nine Entertainment.
In a statement to the ASX on Thursday night, company secretary John Wise SCRIBD would removed all the documents offline within 24 hours.
"We are investigating this recent disclosure as an immediate priority and have identified that the documents mostly comprise PDF valuation documents and other operationally related commercial documents of LMW," Mr Wise said.
"We also confirm that these documents do not appear to have been taken from LMW through an IT related security breach but may be the deliberate work of an individual known to the LMW business."
Mr Wise said the company would work with law enforcement agencies and the Office of the Australian Information Commissioner. In a letter to clients, LandMark White acting chief executive Tim Rabbit said the leak "may be the work of an individual known to the LMW business".
"We are under attack," he said.
"This not a serious data breach.. it's sabotage and I hope the financial institutions will support a good Australian company that has worked incredibly hard to ensure our security systems are as goods as any in the world."
Earlier this month the property valuation and consultancy firm LandMark White revealed <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">the initial data breach from their servers in February</a> cost the company <a href="/news/landmark-white-data-breach-to-cost-over-7-million">up to $7 million</a>. 
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LandMark White reports more private valuation files posted online

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The Melbourne suburb of Richmond is host to the highest volume of auctions this weekend, with 14 homes set to go under the hammer, according to CoreLogic.
Next busiest are Bentleigh and Doncaster, also in Melbourne, with 13 and 12 auctions scheduled each.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to fall, with 1,556 currently being tracked by CoreLogic, down from the 2,055 auctions held last week at final results.
Over the same week, last year a significantly higher 2,281 auctions took place across the capital cities.
Both Melbourne and Sydney are expected to see a decrease in activity this week, with 684 homes scheduled for auction across Melbourne, while Sydney is set to host 639 auctions, decreasing on the 968 and 707 auctions held last week respectively.
The smaller auction markets will also see a lower volume of homes auctioned week on week with the largest decrease is in Adelaide where volumes are down 52%.
<img src="https://www.urban.com.au/images/2019/5/30/Upcoming%20auctions%20May%2030.JPG" alt="">
The busy auction weekend in Richmond sees <a href="https://www.realestate.com.au/property-house-vic-richmond-131146010" target="_blank">15 The Crofts</a> (pictured in title) offered.
The property going under the hammer is a three bedroom two bathroom house.
It comes with an indicative price guide of $1,680,000 - $1,820,000
<img src="https://www.urban.com.au/images/2019/5/30/Richmond%20upcoming%203.JPG" alt="">
Another example of the breadth of auctions taking place in Richmond is <a href="https://www.realestate.com.au/property-apartment-vic-richmond-131135370" target="_blank">6/9 Goodwood Street </a>(pictured above).
The property going under the hammer is a one bedroom one bathroom apartment.
It comes with an indicative price guide of $360,000 - $390,000.
<img src="https://www.urban.com.au/images/2019/5/30/Richmond%20upcoming%202.JPG" alt="">
A third property going to auction in Richmond this week is <a href="https://www.realestate.com.au/property-house-vic-richmond-131130342" target="_blank">4 Park Avenue</a> (pictured above).
The property going under the hammer is a three bedroom two bathroom house. 
It comes with an indicative price guide of $$2,100,000-$2,300,000.
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Richmond set to be the busiest weekend auction hotspot

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The HIA’s chief economist, Tim Reardon says an easing of the credit squeeze is necessary to alleviate the adverse impact of the housing downturn on the wider economy.
The number of dwellings approved in Australia fell by 0.6 per cent in April, according to data released by the Australian Bureau of Statistics (ABS).
According to the recent ABS release, among the states and territories, total dwelling approvals fell in Victoria (2.8 per cent), Tasmania (2.2 per cent), the Northern Territory (2.0 per cent) and New South Wales (0.4 per cent), in trend terms.
Small increases were recorded South Australia (1.8 per cent) and Western Australia (1.3 per cent), while Queensland was flat.
The Australian Capital Territory stood out however with a large increase of (7.7 per cent),.
"The overall decrease was led by private sector houses, which declined 1.9 per cent in trend terms," said Justin Lokhorst, Director of Construction Statistics at the ABS. "Meanwhile, private dwellings excluding houses rose by 1.2 per cent."
Approvals for private sector houses fell 1.9 per cent in trend terms.
Declines were recorded in New South Wales (3.8 per cent), Victoria (2.7 per cent), Queensland (0.8 per cent) and South Australia (0.1 per cent), while Western Australia recorded a 0.5 per cent increase.
Examining the data in seasonally adjusted terms, at the national level, the number of dwelling approvals fell by a seasonally adjusted 4.7% to 14,123, with the overall fall in approvals broad-based.
The total dwellings decline of 4.7 per cent in April was driven by falls in Tasmania (19.1 per cent), Victoria (16.1 per cent), Western Australia (6.7 per cent) and South Australia (3.3 per cent).
Private dwellings excluding houses fell 6.5 per cent, while private house approvals decreased 2.6 per cent.
The value of total building approved fell 0.2 per cent in April, in trend terms. The value of residential building declined 0.9 per cent, while non-residential building rose 1.0 per cent.
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Tim Reardon noted home building had been cooling since late 2017 and the downturn in activity has accelerated in the second half of 2018.
"Approvals for new homes in the three months to April 2019 were 20.5 per cent lower than in the same period the year before,” added Mr Reardon.
“The downturn in building activity is now evident in other economic data including today’s data on capital expenditure. 
"CAPEX fell 1.6 per cent in the March 2019 quarter due to significant falls in expenditure on new buildings.
“With the slowdown in home building accelerating in the first half of 2019, it is likely to weigh on economic growth in next week’s national accounts data.
“The fall in approvals in April were most likely influenced by low levels of consumer confidence during the Federal Election however, the end of the election alone will not be sufficient to bring stability back into the housing market."
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Dwelling approvals continue falling: ABS

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Gurner has secured 95% in sales of its $480 million Saint Moritz development in St Kilda.
There have been sales of 127 residences some 15 months ahead of the projected timeline.
The developer will now bring forward the commencement of construction from the end of 2020, to Q3 this year, with the builder and major construction lender expected to be announced in the coming weeks.
The first two of the three buildings, Pacific House and Azura, are 100 percent sold out.
The third building, Grand Esplanade, which offers absolute-beachfront views over the Esplanade, was quietly launched over the past six weeks, with only six residences remaining.
Gurner and its development partner Greg Shand had planned to retain the remaining six residences but have since decided to release the residences.
<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/2019/5/30/GURN10030_The%20Esplanade_EL03_Skyline%20Building%20C_Marina.jpg" alt="">
These final residences are priced from $3.75million to $14,750,000.
With Grand Esplanade averaging sale prices of over $8 million, Tim Gurner said there had been "huge" numbers of amalgamations of large residences into ultra-luxury penthouses with a number of the sizes well over 500sqm of internal space.
The trend has seen the total number of residences reduced from around 150 initially to 133, and an average price per residence of $4.5 million.
“ We have been totally humbled by the incredible response from the market and cannot express how excited we are to see our vision come to life over the next two years as the project is commenced and completed,” said Tim Gurner.
“ This is a once-in-a-lifetime project for me and the team; we had an ambitious vision for the project to create the world’s best ultra-luxury residential precinct to rival anything around the world and now we get to deliver this amazing dream.
“ Countless advisors told me I was mad to launch a project of this scale when the market was still reeling from negativity. It was hard to block out all the noise but I’m so glad we did because the market has really understood what we are trying to do and not only embraced it but loved it and ensured its success.
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“ By far our best sales advocates have been our own buyers – almost every single buyer referred one or two friends so as word quickly spread, the momentum was phenomenal, where we were signing 5-10 contracts a day at one point.
“I knew there was a market for ultra-luxury residences on an international scale akin to London or New York, but I had no idea just how deep it went when the product is right.
“ Our buyers have been predominantly business identities in their 40s – 60s who lead a truly international lifestyle. They stay in the best hotels, dine in the world’s best restaurants and so naturally expect the world’s best for their home.
“ Until now this discerning demographic had not had any reason to move from their luxury mansions and apartments in Toorak, Albert Park, St Kilda or Brighton, because there was nothing on the market that could offer the lifestyle they were seeking.
“ Perhaps more importantly, there was nowhere that could guarantee an entire building of like-minded owner occupiers, rather than investors. In the end this proved a huge point of difference.
“ The whole experience has been surreal – it’s a time in my life and within the business that I’ll never forget. Now our focus will turn to delivering this masterpiece,” he said.
<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/2019/5/30/GURN10030_The_Esplanade_IN50_BLD%20C_Penthouse_Pool%20%20Terrace.jpg" alt="">
Saint Moritz’s sell-out has been bolstered by an additional $10 million from the sale of the project’s Chairman’s Lounge suites, 20 private business suites priced at approximately $500,000 each, equipped with reception, bar, boardroom and meeting rooms surrounding by 20 bespoke Chairman’s lounges they provide the ultimate discretion for the many wealthy business identities that will soon call the building home.
Saint Moritz has been designed by Fender Katsalidis and Koichi Takada Architects, with interior designer David Hicks crafting the interiors, and Jack Merlo the oasis-style landscapes.
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Just six apartments left as Gurner secures $480 million in sales at Saint Moritz

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The State Taxation Acts Amendment Bill 2019 which seeks to extend the tax on development agreements was introduced into the Victorian Parliament this week.
The Bill contains a major change to the ‘economic entitlement’ provisions of the Victorian Duties Act 2000 that will have a significant and adverse impact on many property developers and the property market more generally, according to tax lawyers.
The Victorian government will seek to boost its slumping stamp duty receipts by extending the tax on development agreements.
It will no longer let developers avoid paying stamp duty by entering into an agreement with the landowner to develop a site without actually purchasing the land.
Many standard development arrangements that are not caught by the current duty rules will be subject to duty under the new provisions, Craig Whatman at Pitcher Partners says.
"This major change was not announced by the Treasurer and is not directly referred to in the Budget papers, despite the change effectively creating a new head of duty liability under which significantly more development arrangements will be subject to duty," he said.
Pitcher Partners is currently working with the Property Council to discuss the impact of these proposed changes on the development industry and the market more generally with both the Government and the Opposition.
The Duties Act 2000 currently contains complex ‘economic entitlement’ rules within its landholder duty provisions, which can apply to development agreements entered into between a private landholder (company or unit trust) and a developer. These rules are unique to Victoria.
Under a typical development agreement, the developer will be entitled to charge the landowner for the development costs incurred and might be entitled to a margin on those costs and/or a share of the profit derived from the development.
The profit component of the developer’s remuneration falls within the definition of ‘economic entitlement’. That definition also includes participation in the dividends or income of the landholder, participation in the income or rents derived from the land holdings of the landholder, or participation in the capital growth or proceeds of sale of the land holdings.
Under the current rules, provided the total economic entitlement(s) of the developer equate to an interest of less than 50%, duty is generally not payable on the arrangement.
For example, if a development agreement entitles a developer to recover the development costs incurred plus receive a 45% share of the profit derived from the development, the developer should be able to proceed without paying duty on the arrangement under the development agreement.
The Bill almost completely re-writes the economic entitlement provisions.
A new set of economic entitlement rules will be introduced into the transfer duty provisions, which will dramatically broaden the duty net and result in a wider range of land development arrangements being subject to duty.
The key change is the removal of the 50% threshold for the interest acquired under the economic entitlement(s).
Taking the example above (where a developer enters into a development agreement under which they are entitled to a reimbursement of development costs plus a 45% share of the profit), if the value of the relevant land is $30M, the developer will now be faced with a duty liability of at least $742,000, which could increase to $1.65M if they are deemed to acquire a 100% beneficial interest in the land.
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Victorian Treasurer seeks to close property developer stamp duty loophole

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NAB has just slashed several of its 2-year fixed rates for owner-occupiers paying principal and interest by 0.20 per cent.
For first home buyers NAB is offering 3.49 per cent, which is one of the lowest 2-year fixed rates available in Australia.
NAB is also offering $2,000 back on new loans of $250,000 or more.
This follows shortly after <a href="/news/anz-finally-cuts-fixed-home-loan-rates">ANZ cut rates</a> across several fixed rate home loans packages as of May 10.
ANZ was the last of the <a href="/news/westpac-joins-other-big-two-to-cut-fixed-home-loan-interest-rates">big four banks to reduce fixed rates</a> on home loans.
RateCity.com.au research director Sally Tindall said it was unusual to see one of the big four banks offer one of the lowest fixed rates in Australia.
“The fact that NAB, a big four bank, is offering one of the lowest fixed rates in Australia is a sign of the times,” she said.
“The big banks are now playing in the low cost loan space in a bid for new customers and they aren’t taking a backwards step.
RateCity data shows around 50 lenders have cut fixed rates in the last two months ahead of the expected RBA cut.
Some lenders are even moving variable rates in the week out from the RBA, including ING which moved rates today and Mortgage House, which now has the lowest ongoing variable rate in Australia of 3.29 per cent.  
Click <a href="https://www.propertyobserver.com.au/images/2019/5/30/NAB%20Slash%20rates.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/5/30/NAB%20Slash%20rates.JPG" alt="">
Note: All interest rates in the tables above are for owner-occupiers paying principal and interest.
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NAB cuts two year fixed rates

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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