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]

WM Residences fills gap in Mordialloc townhouse market

Colliers

Buyers searching for greater space are increasingly looking to amalgamate adjoining apartments together as the pandemic continues to change the way people live.

While apartment demand in previous years was largely from investors, a jump in downsizers looking for larger spaces they can customise has seen a spate of amalgamated sales, according to Colliers Director of Residential and Project Sales Peter Kerras.

Kerras recently sold a one-bedroom and three-bedroom unit at NorthView Residences in St Leonards for $3.4 million. The one-bedroom unit on its own was difficult to sell due to the 48 sqm size. However, combined with the other larger unit, the 170 sqm total property was an attractive prospect for downsizers from Greenwich.

[smartcode_project:default project_id=22410 project_image_fid=196584]

On top of this, an Australian expat paid $3.635 million for an amalgamated one-bedroom and three- bedroom apartment at Bond in Bondi Junction.

&ldquo;Due to the absence of offshore foreign buyers, downsizers are now in the box seat to customise apartments and developers are happy to work with them,&rdquo; Kerras said.

&ldquo;The exponential increase in house prices across Sydney means they generally have more money to spend and the impact of covid has seen the demand for larger apartments skyrocket.&rdquo;

[smartcode_project:default project_id=94354 project_image_fid=170430]

&ldquo;Developers have to lodge plans a few years before going to market, meaning they are very dependent on what is in demand at the time. With offshore buyers extremely active in the market for smaller apartments in premium locations, plans were initially made to suit this,&rdquo; he added.

The emergence of the pandemic in 2019 changed this, as these buyers have taken a backseat, with downsizers and ex-pats far more active. As a result, plans are often too small for many current buyers and developers are adopting a more flexible approach to make sales.

Other similar sales have occurred at 111 Castlereagh in the CBD, The Heysen in Turramurra, Woolooware Bay and at East Side Quarter in Penrith, often resulting in record prices.

[smartcode_project:default project_id=94354 project_image_fid=170426]

Designed by award-winning architects fjmtstudio, 111 Castlereagh is the residential component of the $1 billion mixed-use development by Cbus Property.

&ldquo;Cbus Property is witnessing prospective purchasers&rsquo; growing appetite to customise and amalgamate our residences to meet their ever-changing needs,&quot;&nbsp;Cbus Property&rsquo;s Chief Executive Officer, Adrian Pozzo, said.&nbsp;

&quot;This has already been on our radar for some time &ndash; with the four residences in the soon-to-be-released Skyhome Collection at 111 Castlereagh in Sydney and a number of whole-floor residences at 17 Spring St in Melbourne, we have amalgamated several residences to suit purchasers&rsquo; needs in the past two years,&rdquo;&nbsp;

[smartcode_project_cta: project_id=94354]

Downsizers looking for a spacious home are often paying record prices for amalgamated apartments across Sydney.

alisonwarters@gmail.com

Amalgamated apartment sales boom as cashed-up buyers search for more space

As Brisbane&rsquo;s median house price skyrockets, the gap to the median apartment price widens, but it&rsquo;s set to be short-lived with Colliers research showing the apartment market tipped is for a dramatic price increase.

Brisbane&rsquo;s median house price increased by 10.7 per cent to $890,000 in the March quarter, according to research by Colliers.

The gap between the median house price and the median apartment price is at 49 per cent, the greatest differential Brisbane has seen in two decades.

However, Colliers Director Residential Queensland Andrew Roubicek believes the city is in for a significant price increase in the apartment market as we move into the second half of 2022, with compounding pressures on the construction sector forcing developers of new stock to lift prices.

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&ldquo;Working closely with developers, builders and architects as part of the project marketing arm of Colliers, and selling more than 5,000 apartments annually, we have seen first-hand the impact of labour and material shortages,&rdquo; Roubicek said.

&ldquo;Costs are rising by up to 30 per cent, and recent floods and COVID-induced issues are intensifying the problem and causing significant delays on construction timeframes.&rdquo;

The impact of cost increases as a result of compounding environmental factors has had a dramatic impact on the construction sector, with several builders entering voluntary administration of falling into receivership.

However, Roubicek said the impacts of the cost increases and external pressures had a far wider reaching implications than the construction sector alone.

[smartcode_project:default project_id=100681 project_image_fid=162782]

&ldquo;There have been several examples of new developments achieving presale requirements of around 80 per cent, only to have developers refund deposits and tear up contracts because building costs have escalated to a point that the development is financially unviable,&rdquo; he said.

&ldquo;It&rsquo;s left homebuyers utterly upset and disgruntled, particularly in what has become such a competitive market.

&ldquo;As a consequence, developers who are looking to acquire new development sites are forced to increase their projected sale prices by around 20 per cent in their feasibilities. Just 18 months ago a two-bedroom apartment in Brisbane might have sold off the plan for $9,000 per square metre.

&ldquo;But, to build that apartment today the developer would need to achieve a sale price of $11,000 per square metre for the project to stack up. That&rsquo;s a 20 per cent price increase passed directly onto buyers,&rdquo; he added.

[smartcode_project:default project_id=25721 project_image_fid=157090]

Roubicek said the economic impact of interest rate increases would further impact on housing affordability, forcing buyers back into the apartment market.

&ldquo;Buyers may see better value in the established apartment market in the short-term, as opposed to buying new off the plan. However, this will be a short-lived alternative as supply dries up and investors stake advantage of rental vacancy rates.

&ldquo;We expect surge in demand from investors as the rental vacancy rates continue to fall to less than one per cent and rental yields approach five per cent. This increase in demand will have a significant impact on the second hand apartment pushing up prices reflecting the price of a new apartment.&rdquo;

The gap between the median house price and the median apartment price is a staggering 49 per cent, the greatest differential Brisbane has seen in two decades.



Why Brisbane apartments are set to see significant price growth: Colliers International Australia

The demand for luxury apartments in the Sydney CBD has never been stronger in a trend that is driving increased sales in the $10 million-plus bracket.

Despite extended lockdowns impacting the CBD over the past two years, Colliers National Director of Project Marketing Residential, Blake Schulze, said he had witnessed the strongest demand ever experienced over the past six months, with this high level expected to continue into 2022.

&ldquo;It&rsquo;s a trend that strengthened at a time when a lot of attention was being focussed away from the CBD towards trophy homes and regional activity,&rdquo; Schulze said.

&ldquo;It really affirms how parts of the Sydney CBD have successfully evolved into a high quality and desirable world-class apartment market.&rdquo;

The demand for high-end apartments has been clearly demonstrated across a range of new projects including 111 Castlereagh Street, One Sydney Harbour, Crown Residences Barangaroo and the Sirius Building.

[smartcode_project:default project_id=94354 project_image_fid=170431]

Stand out transactions include all of the available penthouses (sold off-the-plan) at 111 Castlereagh Street, as well as the penthouse collection consisting of The Jones, The MacKellar and The Cambridge Residences, which have sold for a combined total of $66 million.

&ldquo;Sales are running ahead of any familiar or traditional trends, with demand concentrated out of Sydney&rsquo;s East and North Shore, and not necessarily driven by down-sizers.&rdquo; Schulze added.

&ldquo;This pattern also further distinguishes Sydney&rsquo;s CBD apartment market as distinct from trends we see in Melbourne and Brisbane.

&ldquo;Current high-end buyers often own multiple homes and are those who have &lsquo;fallen in love&rsquo; with a new generation of projects, attracted by the appeal of Sydney&rsquo;s CBD. Values clearly indicate that it&rsquo;s smart to be back in the city, and price is not an issue.&rdquo;

However, Schulze says apartment size, design, quality of finishes, location, and lifestyle, must&nbsp;all be spot-on.

Amenities generally expected include a pool, equipped gym, resort level resident&rsquo;s lounge, dining room and gardens, private climate-controlled cellar, and concierge.

[smartcode_project:default project_id=94354 project_image_fid=170428]

Strong high-end demand has also extended to the lower north-shore and select re-sales in the CBD.

These include the soon-to-be completed 440sqm $14 million &ldquo;Grand Luna&rdquo; apartment in The Landmark, St Leonards, which is one the most expensive outside of the Sydney CBD.

A 223sqm $11 million listing at the Greenland Centre and a new listing of an &ldquo;Aqualuna&rdquo; Milsons Point penthouse, consisting of 275sqm internally and 50sqm externally, are both also going to market in early 2022.

[smartcode_project:default project_id=8832 project_image_fid=192889]

&ldquo;High-end-luxury demand is being locally driven, but all elements, including car parking must be available. Buyers understand quality, even to the point where they will, and do commit to a multi- million dollar purchase often only after a video tour. This means the quality must be instantly authenticated.&rdquo;

While the current level of demand for apartments in the $10 million-plus bracket is unprecedented, it remains to be seen what impact the full re-opening of international borders will have.

According to Colliers, there are reasonable expectations for even stronger demand as other high-end developments continue to boost Sydney&rsquo;s appeal.

The demand for high-end apartments has been clearly demonstrated across a range of new projects including 111 Castlereagh Street, One Sydney Harbour, Crown Residences Barangaroo and the Sirius Building

Demand for luxury Sydney CBD apartments has never been stronger

Sydney-based developer Iris Capital saw strong sales results across their projects last year, with new Broadbeach development Victoria &amp; Albert outperforming 2020 results.

V&amp;A, an $800 million residential and commercial precinct, is expected to transform the heart of Broadbeach and create a vibrant new destination for the Gold Coast.

Designed for the coastal environment, V&amp;A will comprise a mix of one, two and three-bedroom apartments on the lower levels, while the upper residences will offer a mix of three-bedroom apartments, with both towers topped by sub‐penthouses and penthouses.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/yUXurXUgRSY" title="YouTube video player" width="560"></iframe>

David Higgins of Colliers International Gold Coast said the development is an exciting breakthrough for Broadbeach, thanks to the complexity of lifestyle and amenity on offer.

&ldquo;It is a pretty exciting milestone for the Gold Coast and, more especially, for Broadbeach because Broadbeach is really one of the most heavily developed lifestyle precincts&rdquo;, he said.

[smartcode_project:default project_id=107928 project_image_fid=184936]

&ldquo;The walkability of this location in the centre of Broadbeach, you can&#39;t replace.&rdquo;

Straddling both streets and the mall, the site ties Victoria Avenue and Albert Avenue together, whilst bringing the history of Broadbeach into the project with its name.

The largest tower to the west is Victoria, the &ldquo;crowning glory&rdquo;, while the smaller tower to the east is Albert.

[smartcode_project:default project_id=107928 project_image_fid=184935]

The two towers, designed by DBI Architects over a subtropical recreational podium, will home over 400 apartments, two levels of premium offices and commercial facilities and fresh food and dining retail on the street level.

The project boasts over 5,500sqm of dining, retail and A-grade commercial, adding to the strong hospitality offerings already available within the suburb.

[smartcode_project:default project_id=107928 project_image_fid=184934]

&ldquo;When we put a new arcade, new retail and dining, fresh food with some A-grade commercial, [V&amp;A] will be a very unique, new entrant into the Gold Coast lifestyle market&rdquo;, said Higgins.

In the six months to June 2021, the development team saw apartment sales 20 per cent ahead of the result for the entire year of 2020.

&ldquo;We expect next year to be as good, if not better&rdquo;, Higgins added.

[smartcode_project:default project_id=107928 project_image_fid=184933]

Iris Capital&rsquo;s decision to transform Newcastle and head north to Queensland was a very strong move, based upon the knowledge of the Gold Coast of Iris Capital chief executive, Sam Arnaout.

&ldquo;He saw the trends and he liked what he saw in Southeast Queensland&rdquo;, Higgins said in his interview with MediaHunt.

&ldquo;Obviously, last year [Queensland] had the best interstate migration [they] have had for 13 years, over 30,000 people, and we expect the next year to be better again.&rdquo;

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V&A, an $800 million residential and commercial precinct, is expected to transform the heart of Broadbeach and create a vibrant new destination for the Gold Coast

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Iris Capital see strong demand in Broadbeach at V&A following their move into the Queensland market

Colliers Residential Managing Director Peter Chittenden says the quality of apartments year on year is continuing to improve to satisfy consumer demand.

And a big move by developers has been the high-end design in the CBD, which has seen&nbsp;locals drive sales in premium central apartment projects.

They&#39;ve seen big demand for 111 Castlereagh Street, the residential apartment tower atop the former David Jones department store, despite the high price tag.

The cheapest units are one-bedrooms start at about $3 million, while four bedroom units start from $13.5 million.

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Urban recently caught up with Chittenden&nbsp;to discuss the trends emerging in the apartment market.

JC: How have you viewed the performance of the apartment market (established and or off the plan) in 2021, and what are the strongest positive and negative factors that will influence outcomes in 2022 and 2023? 
&nbsp; 
PC: The market across both 2020 and 2021 have been impacted by Covid-19. However, 2021 surely experienced a more significant Covid-19 &lsquo;interruption&rsquo; in terms of inspections but in saying that the quality of enquiry was almost unprecedented when it related to sales volumes. 
&nbsp; 
In 2021, the best performers in terms of developments and sales agents, were those who took to a more inquisitive approach when qualifying buyers, ensuring a deeper product and market knowledge, utilising new and innovative technology and having a wiliness to completely change the sales path and interactions all the way through to exchange.&nbsp; 
&nbsp; 
We also saw the gap widen between houses and apartments through to off the plan, more than in the last decade, which has resulted in new geographic markets, opening up for other product types such as apartments.

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&nbsp; 
Looking ahead to 2022 &amp; 2023, for apartments year on year the quality improves to satisfy consumer demand, desire and expectations of the greater market pool of buyers. In 2022 and beyond we expect to see more designs and sales of the super-premium apartments in prime CBD, beachside locations. 
&nbsp; 
The acceptance of technology as a non-contact means to undertake a detailed inspection will improve even more, as more people adapt, therefore giving us greater range of potential purchasers both across Australia and overseas. We will also see CBDs across the country and neighbouring regional areas continue to grow due to lifestyle choices and desires. 
&nbsp; 
Some of the negatives will be a reduction in the amount of developers in the market place, putting pressure on stock as well as the cost of construction increasing every 90 days due to lack of labour and supply materials. 
&nbsp; 
JC: What trend (short term or long term) has prompted your greatest enthusiasm for the apartment market, and what is the issue of most concern to you and or your clients? 
&nbsp; 
PC: The trend of the super-premium coming back into the CBD purchased and supported by local buyers (super-premium defined as apartment at 45,000 a meter and above). 
&nbsp; 
Another trend is that Sydney city will change in ways and at a speed we have never seen before. We predict the physical engagement with retail will go back to be a more important part of people&rsquo;s lifestyle and day to day activities.

[smartcode_project:default project_id=94354 project_image_fid=170432] 
&nbsp; 
Offices will be occupied by different users and will become a more activated 7 day a week living and working environment due to a more considerate and understanding authorities to encourage people to return to this city. 
&nbsp; 
JC: Has urbanisation stalled amid the rush to the regions or what will it look like over the decade ahead? 
&nbsp; 
PC: In short, no. There is an undersupply of housing apartment stock throughout our capital cities. This is a fact - due to the volume of sales across 2020 and 2021 in particular, and what we expect moving forward. 
&nbsp; 
The rush to regions is simply the dream coming true, that has been embedded in our thinking for quite some time, that you can have flexible work hours and still be productive. Being forced to work from home has taught us all about new and acceptable ways to work, train, inspire and live our lives. 
&nbsp; 
In 10 years&rsquo; time, we see the greater Sydney catchment for jobs and residential will include extended areas up to Newcastle and Wollongong, giving people greater choice of living and working environments. With this growth, there will no longer be the stigma &ldquo;brain drain&rdquo; that may have once been associated with living in a more regional area.

[smartcode_project:default project_id=94354 project_image_fid=170426] 
&nbsp; 
JC: How important do you view the push for sustainability practices in the apartment market, and what initiative has seized your interest or focus?&nbsp; 
&nbsp; 
PC: Being environmentally conscious is important everywhere and all the time - that should be the first consideration.

Increasing numbers of people are enquiring about more sustainable living options when considering their next purchaser, however whilst they want it &ndash; they still want to make sure it is cost-effective.

It is something developers always discuss, however it also needs to be delivered in a cost-effective way for them. In saying that, in the future, we do believe this will be led by government authorities and should be something that is considered where possible in all developments.

A big move by developers has been the high-end design in the CBD, which has seen locals drive sales in premium central apartment projects.



jchancellor-FAypfDUnLy

Locals drive super-premium CBD apartment sales: Five minutes with Colliers Residential managing director Peter Chittenden

The view from residential developers&nbsp;is that the apartment market in the Sydney CBD is more on trend and in demand than it has been in a number of years.

Adrian Pozzo, the chief executive at CBUS Property,&nbsp;says the&nbsp;CBD is set to evolve post the pandemic disruptions, with the nature of the developments being constructed and in planning dominated by mixed-use towers.

&quot;The mixed-use nature of the city has seen distinct precincts evolve, each with their own cluster of businesses and cultural, educational and entertainment precincts,&quot; Pozzo says.

At the heart of the CBD apartment pipeline is Castlereagh Street, the 1.6 kilometre long major strip which runs from Central Station toward the business precinct, stopping just shy of the harbour.

Developers have taken to the small pocket around Hyde Park, almost between St James and Museum Station.

There&#39;s a number of projects currently under construction, and a solid pipeline on the desks of the City of Sydney council.

The first project to be completed will be Castle Residences, the mixed-use hotel and apartment tower at 203 Castlereagh Street which is slated for completion in December.

[smartcode_project:default project_id=7758 project_image_fid=79424]

The first Australian project by Shanghai United, Castle Residences have been built above the heritage Porter House, which is being retained as a luxury lobby entry.

There are 131 apartments and around 122 hotel rooms, with the hotel to be operated by AccorHotels.&nbsp;Residents at Castle Residences will get all of the perks of being a hotel guest, such as a the 24 hour concierge, room service, housekeeping and even valet parking.

[smartcode_project:default project_id=7758 project_image_fid=150450]

Up the street and currently under construction is Cbus Property&#39;s&nbsp;111 Castlereagh Street, set to be a landmark in the CBD for years to come.

The striking tower, designed by fjmt studio and built atop the former&nbsp;David Jones&nbsp;department store which was originally built in 1938,&nbsp;has 101 apartments, most with views over Hyde Park.&nbsp;

Part of the development will see the David Jones component converted in to 11,500 sqm of office space, as well as a 6,200 sqm extension of Westfield.

[smartcode_project:default project_id=94354 project_image_fid=170431]

Colliers Residential Managing Director Peter Chittenden, who has been handling the sales at 111 Castlereagh Street,&nbsp;says the apartments have been designed with ample space and connection to the outdoors, which are now top priorities for Australians.

&quot;There has been strong buyer interest very much around the quality of the development and construction team, the iconic architectural building and the central CBD location&rsquo;s liveability with shopping and dining along with the expansive views spanning across Hyde Park and beyond to Sydney harbour,&quot; Chittenden says.

&quot;The prominent buyer demographic has been local Sydneysiders from the Eastern Suburbs and Lower North Shore, looking for a primary residence along with interest from regional NSW where buyers are looking for a city base&nbsp;for when they are visiting and doing business in Sydney.&quot;

Apartment residents will have access to a rooftop with a pool, gym and gardens. Construction is underway, with completion expected in Q3 2023.

[smartcode_project:default project_id=94354 project_image_fid=170426]

Across the road from 111 Castlereagh Street is set to be another impressive mixed-use development.

Last year the alternative asset manager Fife Capital, led by Allan Fife, submitted plans for a 17-level tower to&nbsp;sit alongside a heritage-conscious redevelopment of the George Bosch Chambers and St James Hotel&nbsp;building that has stood since the 1920s.

The development of two lots,&nbsp;114-120 Castlereagh Street and 139 Elizabeth Street, will see just 26 apartments built, only starting from level 10, with the rest of the building being commercial. There will be&nbsp;a mix of one, two and three-bedroom units and a two-level, four-bedroom penthouse on levels 15 and 16.

<img alt="" height="789" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_main_1200.jpg" width="1200" />

The majority of the units will face the park, with some facing Castlereagh Street and the lower levels facing Elizabeth Street and will contain wintergreens.

A landscaped communal open space has been designed above the commercial building at level 10.&nbsp;The roof terrace provides communal facilities including BBQ area, outdoor dining and recreation areas.

And the most recent lodgement comes from Central Element, who are seeking to build a $100 million tower on the fringe of Hyde Park where the 16-storey Hyde Park Inn hotel currently sits.

<img alt="" height="373" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/central_elementh_hyde_park.png" width="662" />

It&#39;s another amalgamation of sites on Castlereagh Street and Elizabeth Street, the latter which runs parallel to Hyde Park.

They&#39;ll be amalgamated&nbsp;two lots at 262-266 Castlereagh Street and 271-279 Elizabeth Street, planning for three retail tenancies on the upper and lower ground floors, with 53 apartments above.

The subject sites are currently occupied by a vacant four-storey commercial building as well as the&nbsp;16-storey Hyde Park Inn hotel.

At the heart of the CBD apartment pipeline is Castlereagh Street, the 1.6 kilometre long major strip which runs from Central Station toward the business precinct, stopping just shy of the harbour.

What Sydney's Castlereagh Street will look like in five years

Cbus Property have reported the sale of three luxury apartments worth $66 million in the 111 Castlereagh St development.

The buyers came from the eastern suburbs and lower north shore.

The biggest sale was a 460sq m double-storey penthouse that fetched about $35 million.

It is called the Jones Residence,&nbsp;named after Sir Charles Lloyd Jones who led the success of the David Jones expansion on which the property sits.

The residence boasts 360‑degree views across the city and towards the Blue Mountains, capturing Hyde Park, Sydney Harbour, the Eastern Suburbs and beyond.

[smartcode_project:default project_id=94354 project_image_fid=170432]

The two smaller sub penthouses in the 101-unit project sold for about $15.5 million each.

The sales marked "a resurgence in the return of Sydney city living and the ongoing appetite for high-end, primely located residential property, despite the challenges of the current COVID-19 climate,” Cbus Property CEO Adrian Pozzo said.

Selling agent Colliers Residential managing director Peter Chittenden said the four-bedroom penthouse occupies part of level 33 and the entire 34th level and includes two kitchens, living areas, a wine cellar and a butler’s pantry.

Cbus has two four-bedroom sky homes and a selection of expansive one, two and three-bedroom residences still for sale in the project set to be finished by the end of 2023.

[smartcode_project_cta: project_id=94354]

Three luxury apartments have been sold off-the-plan in the 111 Castlereagh St development

$35 million penthouse sale secured in 111 Castlereagh by Cbus

The Melbourne off the plan prestige market is continuing to see heightened demand.

Two whole-floor apartments in&nbsp;Cbus Property&#39;s exclusive 17 Spring Street residential tower&nbsp;have just sold&nbsp;for a combined total of $25 million, within two weeks of each other.

The Garden Residence, spanning the whole of level 10 with a private 280 sqm plus terrace with landscaping by Paul Bangay, sold even before its marketing campaign.

Following The Garden Residence sale, another whole-floor apartment on the 31st level sold. There&#39;s now just one whole-floor apartment remaining in the whole 73 apartment building.

Adrian Pozzo, chief executive of Cbus Property,&nbsp;said the sales showed that overwhelming confidence in the market remained for well-placed product, despite the challenges generated by the COVID-19 pandemic throughout the past 18 months.

[smartcode_project:default project_id=8666 project_image_fid=77387]

&ldquo;Cbus Property continues to experience strong owner-occupier demand for premium residences in prime locations and our purchasers see immense value in buying at the top end of Melbourne&rsquo;s CBD,&rdquo; Pozzo said.

The $300 million 17 Spring St, architecturally designed by Bates Smart at the end of Spring Street, is set to be built on the 1,270 sqm site that was formally&nbsp;occupied by the Mercure Melbourne Treasury Gardens.

It comprises 73 two- and three-bedroom, and half- and whole-floor residences, each with views overlooking the Treasury and Fitzroy Gardens.

Construction is anticipated for completion in late 2022.

[smartcode_project:default project_id=8666 project_image_fid=77388]

It&#39;s Cbus Property&#39;s second success on Spring Street, having sold out their 35 Spring Street well before its 2017 completion.

Colliers International&nbsp;brokered the whole-floor sales, with their director of residential Brett Griffith&nbsp;saying that despite the challenges brought about by COVID-19 throughout the past 18 months, they cannot keep up with the demand from buyers seeking premium residences in Melbourne CBD&rsquo;s premier streets, such as Spring Street.

&ldquo;Quality apartments from quality developers are extraordinarily resilient in all markets; they very rarely shift or drop in price,&rdquo; Griffith said.

Adrian Pozzo, chief executive of Cbus Property, said the sales showed that overwhelming confidence in the market remained for well-placed product

Melbourne's prestige off the plan apartment market booms with $25 million sales at Cbus Property's 17 Spring Street

Brisbane is seeing continued growth in its apartment market, but&nbsp;Colliers Director of Residential Andrew Scriven says there&#39;s not been the same strength in the capital&nbsp;yet compared to the booming Gold Coast market just an hour south.

&quot;It&#39;s a more solid market in Brisbane at the moment, with good sales to owner-occupiers,&quot; Scriven says, and suggests for Brisbane to grow, they need investors to come back.

&quot;There&#39;s a bigger pool of people throughout the rest of Australia,&quot; Scriven said, highlighting the four million residents in SEQ and 21 million or so across the rest of the country. That&nbsp;investor pool is ultimately the most important&quot;.

Interstate investors are starting to come back in to the market, but only slowly, Scriven says.

&quot;The yields in Brisbane are&nbsp;still the highest out of all three states [Sydney, Melbourne and Brisbane], with some of the lowest vacancy rates in the country. Prices are half that of Sydney, and 30 per cent less than Melbourne.&quot;

Scriven noted that there&#39;s been a high price differential over the last year&nbsp;between established and off the plan apartments, which is offering further opportunity for value.

&quot;Over the last 12 months, the established apartment median&nbsp;has risen may be 10 per cent,&quot; Scriven says.

&quot;New apartments haven&rsquo;t risen at all over that time. There&#39;s a bit of a price differential which is starting to look like an opportunity for investors.&quot;

With limited action from interstate investors, sales have picked up to owner-occupiers, no more evident than at&nbsp;The Fernery, the mixed-use project in Ferny Grove in Brisbane&#39;s north.

[smartcode_project:default project_id=100681 project_image_fid=162778]

&quot;There&#39;s been overwhelming success since launch in April&nbsp;from the local market, looking to either downsize, invest or secure something for the children. Most of them have come from a couple of kilometre radius.&quot;

&quot;Locals have really embraced the project. They&nbsp;haven&rsquo;t really had that offering ever.&quot;

The bureau^proberts-designed project, developed&nbsp;by the Townsville-based Honeycombes&nbsp;in partnership with their financier MaxCap, will comprise the 82 apartment block The Fernery, as well as&nbsp;a 12,000 sqm retail centre set next to the Ferny Grove train station.

Prices start from $352,500 for the one bedroom apartments, $399,000 for the two bed units and $620,000 for the three bedrooms.

Scriven says the mixed-use retail precincts is what buyers want in this day and age.

&quot;They&#39;ve got the butcher, the baker, the candlestick maker, all at their doorstep,&quot; Scriven says.

[smartcode_project:default project_id=100681 project_image_fid=162784]

&quot;It&#39;s away&nbsp;from that investment grade apartment development to more quality schemes. Good architecture and good place&nbsp;to live that will increase in value.&quot;

On the level of finishes and designs of the apartment development, Scriven suggests what The Fernery is offering is&nbsp;what you would typically find in the more premium apartment&nbsp;market areas such as Newstead and New Farm.

Construction is due to commence of the residential and retail components in the coming months, with Broad Construction appointed to handle the build. Completion is slated for late 2023.

Scriven suggests that construction dates, completion dates and builder appointments are&nbsp;what people want to hear when it comes to buying off the plan developments, particularly mixed-use precincts.

&quot;They want to know timelines and when they are being delivered.&quot;

[smartcode_project:default project_id=100681 project_image_fid=162783]

There&#39;s been a bit of expat interest&nbsp;across Brisbane, but that&#39;s primarily been focused on the housing market.

&quot;What we have seen is expats have come back, particularly Australian&nbsp;citizens in Sydney and Melbourne.&nbsp;There&#39;s been around 440,000&nbsp;Australian&#39;s come back from overseas over the 12 moths to Feb or March. All those people are living someone, or they&#39;ve bought.

&quot;A lot of expats have a lot of wealth and have been leaning&nbsp;towards the housing market in SEQ which has been well documented&quot;.

There was a bit of expat interest in the boutique St Lucia riverfront, 160 Macquarie Street.

[smartcode_project:default project_id=25721 project_image_fid=157087]

Now over 70 per cent sold, 160 Macquarie is&nbsp;St Lucia&#39;s first riverfront apartment development in more than a decade.

The development by&nbsp;QM Properties, led by horse enthusiast and managing director&nbsp;Jon Haseler, has been designed by the architecture firm&nbsp;Rothelowman&nbsp;and only homes 34 riverfront apartments.

Scriven suggested that as a city and potential place of residence,&nbsp;Brisbane has come out of the COVID pandemic as well as any other capital.

&quot;If&nbsp;you don&#39;t need to be in the office, there&#39;s worse places you can be than Brisbane,&quot; Scriven says.

&quot;We didn&#39;t have a lock down as long as anyone else and that has certainly been an attraction to the city. People can work a little bit longer from home, a bit more mobile. There&#39;s regionalisation or mobility in the work force.&quot;

Locals snap up apartments in The Fernery, but Brisbane needs investors to grow: Five minutes with Colliers director Andrew Scriven

The Brisbane-based developer Ention Properties has quietly secured sales of nearly half of its luxury Taringa apartment development Déesse.

Three of the eight apartments&nbsp;were sold at its launch, including the penthouse that sits on the top level of the five level building at 79 Swann Road.

Crowning the development is a wet edge pool, lounge deck, barbecue and outdoor dining area and lawn.

<a href="/buildings/deesse-taringa-79-swann-road-taringa"><img alt="" data-entity-type="" data-entity-uuid="" height="896" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/deesse_2.jpg" width="1600" /></a>

The three and four bedroom apartments have been designed by local architects Hayes Anderson Lynch&nbsp;to take advantage of the views north east to Brisbane City, with views to the Border Ranges to the rear. Each apartments features natural tones and textures such as timber floor, high quality stone and refined joinery, signature stylings of Ention.

The large floor plans is set to attract&nbsp;downsizers and owner-occupiers, with living space ranging from 184 sqm to 266 sqm.

The remaining five apartments include the expansive courtyard residences and the north-east city facing sub-penthouse.

<a href="/buildings/deesse-taringa-79-swann-road-taringa"><img alt="" data-entity-type="" data-entity-uuid="" height="890" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/deesse_3.jpg" width="1800" /></a>

Construction is expected to commence in the next couple of months, with the site being cleared and former home on the 810 sqm block demolished.

Ention Properties director Trent Thoroughgood says working with&nbsp;Hayes Anderson Lynch and&nbsp;Déesse's the project marketing team at&nbsp;Colliers International allowed them to take all of the feedback that they collectively received from customers and put that knowledge into the design of the apartments.

"Our vision has been to design a truly boutique building that will sit proudly amongst some of Brisbane’s most elite homes, and ticks all of the boxes for a discerning owner occupier."

The three and four&nbsp;bedroom residences are&nbsp;priced from $1.53 million.

[smartcode_project:default project_id=8200]

About the developer

Ention Properties was founded by Trent Thoroughgood and Dion Smith in 2013 with a view to&nbsp;“create&nbsp;lifestyles above all others”

Ention have recently completed Ciel Residences, a boutique block of nine in Brisbane's Herstmon, as well as the nearby Ciel Terraces, both of which are sold out and have settled.

&nbsp;

&nbsp;

Crowning the development is a wet edge pool, lounge deck, barbecue and outdoor dining area and lawn

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