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Unemployment is the highest it has been in a decade and consumers are gloomy about the local economic outlook. But most people still expect house prices to rise and think that now is a good time to buy.
General consumer confidence dropped in February, hitting its lowest point since last July, the <a target="_blank" href="https://www.westpac.com.au/docs/pdf/aw/economics-research/er20140212BullConsumerSentiment.pdf">Westpac Melbourne Institute Consumer Sentiment Index</a> revealed. The index, released last week, fell by 3% in February to 100.2 from the January reading of 103.3. 
Consumer expectations on the outlook for the economy over the next 12 months were at their lowest since March 2012, having fallen 17.9% since the same time last year. Expectations for the next five years were at their weakest since February 2009, the Index showed.
Westpac chief economist Bill Evans put the poor results down to a run of bad news on the motor vehicle industry, other manufacturers, and Qantas, as well as heightened concerns about what to expect from the May Budget. A larger group of people also expected interest rates to rise over the next 12 months compared with the last time the bank surveyed on that topic in August 2013.
Despite the negative views, the latest survey found consumer attitudes towards buying residential property have stabilised and are still firmly in positive territory.
The “Time to buy a dwelling” component of the index came in at 129.3 in February, just a fraction down on January’s 129.4 reading and the 129.8 result for December 2013.
<img width="470" height="276" src="/images/stories/2014/02/14/chart-feb-14-one.gif" alt="chart-feb-14-one">
Source: Westpac Melbourne Institute Consumer Sentiment Index
Westpac senior economist Matthew Hassan told Property Observer a reading of 129.3 was quite good, although it is down 10.8% from its recent peak in September. “It should also be noted that responses tend to be positive - the average reading since 1975 has been 123.5,” Hassan said.
Expectations on house prices were still 26.2% above where they were at the start of last year. That’s despite a 2.2% fall in the house price expectations component of the Index which left it 4.3% below its December peak.
<img width="470" height="324" src="/images/stories/2014/02/14/chart-feb-14-two.gif" alt="chart-feb-14-two">
Source: Westpac Melbourne Institute Consumer Sentiment Index
As to why attitudes towards housing were holding up while broader sentiment was weakening, Hassan said the main reason was likely to be that mortgage interest rates were near record lows and the market was showing strong gains.
“We tend to find the index is influenced by both affordability and expectations for capital gains,” Hassan said.
NAB’s Quarterly Australian Residential Property Survey <a target="_blank" href="/news">released last Thursday</a> showed similar expectations of price appreciation. 
Respondents to that survey anticipate price gains in the range of 2 to 4% over the next couple of years. NAB’s own forecasts are slightly higher. It predicts average capital city house prices will rise by 6% to end of 2014 and 5% to the end of 2015.
“The story is modest but slowing growth over the next couple of years,” NAB senior economist Robert De luce told Property Observer. “That boils down to the impact of low interest rates, affordability, population growth and long-standing supply issues.”
NAB’s survey considers foreign buyers’ impact on the market. These people are outside of the local economy so their demand is less influenced by conditions in Australia.
De luce said there was little hard data around foreign buyers but according to NAB’s analysis, 6.5% of established dwellings and 11% of new properties are bought by overseas buyers.
HSBC chief economist Paul Bloxham said consumer sentiment was usually a timely indicator of economic conditions, but it wasn’t uncommon for there to be a large discrepancy between sentiment and spending behaviour.
“Sentiment indicators can provide valuable signals of what to expect for the future, but not always,” Bloxham says. “When you’re summing up what’s going on in the economy not everything is always moving in the same direction.”
Bloxham and colleague HSBC economist Adam Richardson <a target="_blank" href="https://www.research.hsbc.com/midas/Res/RDV?p=pdf&amp;key=tLvTwP32vL&amp;n=403708.PDF">put out a report last week</a> examining unemployment, which hit 6% in January, its highest level in a decade.
Bloxham and Richardson argue that while the unemployment figure looks bad – like the headline consumer sentiment numbers – other economic indicators, such as retail sales, business conditions and building approvals have picked up in recent months, pointing to a strengthening economy. Booming house prices also showed the economy was more resilient than sentiment would suggest.
news@propertyobserver.com.au
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Analysis – Why weak consumer sentiment hasn’t stopped demand for housing

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First home buyers will return to the property market as governments increase land supply, Stockland managing director Mark Steinert expects.
“We see a proactive focus from governments to improve the land supply that’s going to address the affordability issue,” Steinert said at the group’s half year results briefing last week.
Stockland, which produces small, high density residential properties at low price points, sells about half of the homes it builds to first-time buyers.
Despite low interest rates, first home buyer demand has been subdued as price rises and the removal of government grants for buying established dwellings have made it more difficult to save a deposit.
First home buyers accounted for 12.7% of total owner occupied housing finance commitments in December 2013, Australian Bureau of Statistics data shows.
<img alt="FHB-feb-14" src="/images/stories/2014/02/14/FHB-feb-14.gif" height="256" width="470">
Real Estate Institute of Australia president Peter Bushby said the figure was alarming compared with the long-run average of 19.9%. The REIA has called on governments to help first time buyers back into the market by allowing them to use superannuation savings to buy a home and by reinstating grants.
The Reserve Bank noted in its February Statement on Monetary Policy that demand for established housing was especially weak as changes in state government incentives for first home buyers toward new dwellings and away from established properties had shifted their purchases accordingly.
Housing Industry Association senior economist Shane Garrett said governments would have to further lift constraints on planning for new homes, land supply and infrastructure funding to maintain activity in the market.
“Addressing these issues will do much to improve longer term housing affordability,” Garrett said.
Steinert said there was a large amount of pent up demand from first home buyers for properties and rising prices in inner urban areas were encouraging people to look further out.
“There has been increased activity in the middle to outer rings as people search for a great lifestyle outcome at a competitive price,” Steinert said.
Stockland settled on 2,253 residential lots in the first half of 2014, an increase of 8.1% compared with the first half of 2013. Its revenue from residential property sales to consumers was up by 2.9% to $392 million, the group reported.
“We’ve seen a combination of price increases as well as volume [sales] increases,” Steinert said.
Prices for the group’s properties had increased by 8 to 10% in Sydney, and up to 5% elsewhere, he said. Packages that were previously on offer giving buyers extra such as landscaping included in the sale price were no longer widely available.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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As land supply increases, so will first home buyers: Mark Steinert

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Smaller commercial properties are in demand from private investors looking for yield in the low interest rate environment.
Properties in the $1 million to $5 million price range are particularly sought after by self-managed superannuation funds, said Dean Venturato, director of Burgess Rawson, which specialises in selling commercial properties to investors.
“In the last 18 months there has been more activity from SMSFs and there’s more awareness of [commercial property]. There are more people getting advice from accountants and financial planners to [invest in] it,” Venturato said.
He estimates that as many as half of buyers of smaller commercial properties are investing through superannuation funds. These buyers favour lower risk properties.
“The better the tenant, the longer the lease, the better the location, the more interest we get,” he said.
There could be two to three times more enquiries and inspections on properties in prime locations with good tenants on long leases, even though these properties tended to deliver lower yields.
The markets in Sydney, Melbourne and Brisbane were seeing equally strong demand from investors.
In Melbourne, strip retail premises in prime locations delivered yields of around 4 to 5%. “That’s a reflection of the popularity of those areas,” Venturato said.
Strip retail in Sydney’s better locations such as Randwick, Newtown and Balmain could yield around 5 to 5.5%, Ventuarto said. In lesser retail areas in Western Sydney, yields could be up to 8%, depending on the tenant and the length of the lease.
Supermarkets leased to national tenants might offer yields of 6 to 6.5%.
Service stations and 7-11s sold under sale-and-lease-back arrangements were delivering yields of around 7.5%, or 6.5% for properties in prime spots.
For service stations in regional areas, investors could expect yields around 0.5% above those in metropolitan areas. “For 7.5% yield in Sydney, it might be 8% in Scone and Muswellbrook,” Venturato said.
Industrial buildings offered slightly higher returns. A modern, prefabricated concrete building with a secure tenant might deliver 7.5% yield, while an industrial shed might return around 9%.
High auction clearance rates of around 90% for smaller commercial properties have boosted vendor confidence and seen more properties come onto the market in the past four to six months, Venturato said.
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Smaller commercial properties seeing SMSF demand

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The cost to market a property for sale could rise as the dominant online listing website plans changes to its pricing model.
REA Group has signalled it will link the cost of a premier listing on its popular realestate.com.au to the property’s sale price rather than the number of listings a real estate agent places on the site.
Outgoing REA Group managing director Greg Ellis said at an analyst's briefing on the company’s half-year results, that it wanted to take a “flexible pricing approach” to its listings. He would not give a timeframe for the changes.
Only properties marketed through a registered real estate agency can be listed on realestate.com.au. Agents pass advertising costs through to vendors.
Australian Securities Exchange-listed REA Group has been moving from a subscription model for real estate agents to charging a fee per listing. Revenue from what it calls listing depth products increased by 67% between June and December 2013, with vendors paying more for premier listings with extra details and preferential positions on the site. Subscriptions revenue was down by 5%.
“We saw where the property advertising market was headed and made a deliberate decision to shift our focus from subscriptions to depth products which meet specific market needs,” Ellis said in a statement. “This strategy is now delivering excellent growth and returns for our shareholders.”
The company’s revenue increased by 30% to $209.4 million in the first half of 2014 compared with the previous corresponding period. Net profit was up 37% to $70.7 million. Earnings per share were 37% higher at 53.7 cents.
Real estate agents have criticised realestate.com.au in the past for fee model changes which resulted in price hikes. Some agents claimed fees for listings increased by as much as 42% in mid-2013.
Industry estimates put the current cost of listings at between $100 and $3,500 a month depending on the type of advertisement.
REA Group told analysts it was offering greater value to customers by providing additional research data such as supply and demand metrics, and dramatically increasing its audience reach.
Total page visits per month to realestate.com.au increased by 37% to 39.7 million at the end of the December 2013, compared with the same time in 2012. REA Group sites accounted for almost 80% of total minutes spent on Australian property portal sites, according to Neilsen research.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
Correction: This article has been updated since initial publication. The last sentence in the original version initially read 'the site' in the singular and the statistical source has been inserted.  
 
 
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Vendors may be forced to pay more for online advertising

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Investors who buy property with others through a single self-managed superannuation fund could be putting their assets at risk, a lawyer who specialises in the area has warned.
Unless the joint investors are close family members with the same investment goals, they should try to hold the property as tenants in common through separate self-managed super funds (SMSFs), despite higher costs and potential difficulties with lenders, said Allan Swan, director of asset and wealth management lawyers Swan and Yii.
Business partners who buy their business premise through an SMSF of which they are both members are particularly at risk, he said. “If there’s a business dispute between the partners there’s one fund and it can be a recipe for disaster.”
Lenders often demand that limited recourse borrowing arrangements used to finance a single property purchase be held through only one SMSF.
A limited recourse borrowing arrangement is a special type of mortgage used by SMSFs in which the lender can only claim the property that secures the loan if the borrower defaults on repayments. In regular mortgages the lender has full recourse to all of the borrower’s assets.
“What some people do to save [administrative] costs is put all their SMSF assets in the combined fund,” Swan said. “One business partner might have half the property and $100,000 of other investments, and the other might have $1 million in other investments in addition to the other half of the property.”
Members must use a structure know as a segregated fund if they wish to keep their other assets separate within the same SMSF. In most SMSFs, assets are pooled between members and allocated in proportion to their individual balances.
Running a joint SMSF with segregated funds, rather than separate SMSFs can save on costs. But Swan said the segregate parts needed to be administered separately and have different bank accounts, which ate into the savings. Audits could also be more complex and costly.
“[Also], if people are making decisions about the rest of their super, having to get the approval of the other member can be a real pain, especially if there have been disputes between the members,” Swan said.
A better solution would be to negotiate with the lender to allow separate limited recourse loans through separate SMSFs owning the property as tenants in common, Swan said. While lenders may be reluctant to offer the loan arrangements to separate super funds, they may be more accommodating if there’s a risk that they may lose the business as a client, he added.
If the lender will not offer finance to separate SMSFs, Swan said the next best option was for members to keep their other investments in separate funds and only hold the property in the joint fund.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Joint SMSF investors may be at risk: Legal expert

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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;

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;

Zoe Fielding

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