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

Development

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GUEST OBSERVER
Our cities are slowing down. Traffic speeds have slowed in the world’s cities for 30 years and rail transit is now faster than road speeds in most cities.
Rail is needed in all of the world’s cities as it can enable travel time savings and space efficiencies no longer achievable by car and bus. Rail can carry 20 times as many people compared to a single lane of freeway and five to 10 times that of a bus way.
The problem for getting more rail is obviously funding. Prime Minister Malcolm Turnbull has stated that he wants to see a greater involvement of private sector funds in urban rail.
How can this be done?
<h2>The link between rail and development</h2>
Financing of rail in the 19th and early-20th century was undertaken through land development partnerships opening up new suburbs. It was profitable for the companies and created the tram and train suburbs we now love.
By the 1950s rail had lost its advantage as cars and buses offered up better time savings. These flexible modes could also open up land between the rail corridors and further beyond them. That era is over in most cities as easy land has been developed and traffic has stifled the time advantages.
We therefore need a different way of funding and financing rail projects that can bypass traffic and at the same time create opportunities to redevelop our cities.
The rail projects from 150 to 50 years ago were based on how much land could be developed to finance their projects. I have proposed a new entrepreneur-led rail approach based on how much land can be developed – or redeveloped – for financing the rail construction and operations.
This new approach turns traditional transport planning on its head.
<h2>A finance model for entrepreneurs</h2>
Instead of predicting numbers of people who could use a railway line based on present land use, this model starts by predicting how much land can be developed as the fundamental source of the funding.
After we plan the land development as the basis of financing we can estimate the potential number of people using the railway. The government, in partnership with private proponents, can assess different levels of passengers based on different levels of land development.
This is therefore an entrepreneur’s approach to rail. It cannot be done simply by government planners as land development is mostly a private enterprise activity.
The process is therefore reversing the traditional transit planning approach, as you can see below. On the other hand the entrepreneur’s approach starts with land use, develops financing (and funding) from this and then can estimate transit numbers as the basis for detailed infrastructure planning.
<a href="/images/2015/12/11/Screen%20Shot%202015-12-14%20at%208.24.15%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/11/Screen%20Shot%202015-12-14%20at%208.24.15%20AM.png" alt="" width="689" height="426">
It’s possible in the future a bus rapid transit system could be financed using a similar model, however this would require the widespread adoption of electric busses.
<h2>The role of government</h2>
The idea of the model is to put the onus on financing rail on the private sector. The private sector would build, own, operate and finance rail development. It would necessarily require a Public Private Partnership to ensure public goals are met.
These include linking into the rest of the public transport system, the fares, the frequencies, and, most importantly, how to enable redevelopment goals to be met around stations. An alliancing approach may be the best way to enable such a partnership.
Government may chip in, but government funding should be more than matched by land development-based financing from the private sector. There are a range of methods for estimating how much money can be made from investing in the land around stations, and how much money goes into government coffers from the increased land value.
This model would not only enable federal, state and local money to go much further but it may even need very little government capital, just support for the process of land development as the driving base.
The alternative will be to continue seeing rail projects as welfare rather than the market-oriented opportunity they have now become in congested cities. In the present government-funded system investors come in and take windfall profits from the land around stations, thereby capturing much of the economic value created. This approach finds a way of recycling such value into the building of rail lines as well as the dense station precincts.
These rail projects would provide much needed transport infrastructure, but also provide the basis for reinvigorating our cities over the next 30 years.
 
Peter Newman is professor of sustainability, Curtin University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/peter-newman-1858" target="_blank">here</a>.
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mick.cee-iDmgDDAmu8

Want to build better cities? Get the private sector involved in rail projects

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New South Wales has taken top spot in a new report by real estate forecaster Australian Construction Insights (ACI).
The summer 2015 edition of the ACI Construction Monitor provides analysis and insights into conditions within Australia's non-residential building and engineering construction sectors.
“In terms of geography, the Construction Monitor’s state rankings show New South Wales has finally taken out top spot," said Geordan Murray, the economist who worked on the report.
In the Construction Monitor rankings NSW has been held out of top spot...until now. After a series of seconds and thirds, the latest analysis shows NSW has finally reached the top of the table, narrowly edging out Victoria which holds down second spot ahead of the Northern Territory.
<a href="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.58.23%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.58.23%20AM.png" alt=""> 
 
"The recent performance of the state’s residential building sector has been has been well documented, however, the resurgence of the state’s non-residential construction sectors have not attracted the same level of attention,” Murray added.
Despite the overall top spot, NSW ranked second to Victoria for best performing jurisdiction in non-residential building, and was runner-up to the Northern Territory for best performing jurisdiction in engineering construction. 
Beyond the top three, there is a reasonably large gap to Tasmania and Western Australia in fourth and fifth places, respectively. South Australia and the Australian Capital Territory are a little further off the pace holding down sixth and seventh, while Queensland has dropped into last place.
“The gradual winding down of construction work related to the expansion of mining operations over the last few years is the most pervading factor affecting the overall level of non-residential and engineering construction activity nationally,” Murray said.
“Our forecasts show this is likely to remain the overarching dynamic for the next few years.”
“However, the large scale of the change in mining related work is concealing the countless variations in conditions affecting all the other segments of non-residential building and engineering construction.
“In an aggregate sense, falling expenditure on non-residential construction will be a weight in the saddlebag for Australia’s economic growth, lasting as long as it takes for mining sector expenditure to normalise.
Murray said the forecast showed growth in total non-residential construction is expected to return in 2017/18, but it does not need to take that long.
"If we see more favourable currency conditions and interest rates remaining low, we could see investment in non-residential construction make a positive contribution to economic growth sooner,” he concluded. 
<a href="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.58.33%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.58.33%20AM.png" alt="">
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j.ballantyne1990-6AQqhLzZaK

NSW takes top spot on construction league table

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A site with mixed-use development potential at Carnegie in Melbourne’s inner south-east has been snapped up by a local private developer for an undisclosed sum.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-carnegie-501733386" target="_blank">360 Neerim Road</a> property comprises a 568 square metre corner site with an existing building generating short-term holding income of $55,140 per annum net.
The selling agents were Julian Heatherich and Jesse Radisich of Savills.
A development scheme prepared for the property includes 13 large apartments and ground-level retail, said Heatherich.
The site is positioned between the Carnegie and Murrumbeena retail precincts and train stations and close Chadstone Shopping Centre, Monash University, schools and parks.
"As such it offers developers excellent potential for the sort of residential and retail project described in the development scheme,’’ Heatherich said.
The vendor was a local private investor.
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Developer snaps ups mixed-use site in Melbourne's Carnegie

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Modular hotel company Tribe Hotel Group will partner with the Mantra Group to operate its inaugural property in Walker Avenue, West Perth.
Mantra Group will manage the West Perth hotel’s operations under the new Tribe brand when it opens in 2016.
The Tribe Hotel Group's modular design and construction methodology comprises pre-fabricated guest rooms with essentials for the modern traveller, deviating from traditional accommodation.
“Tribe aims to revolutionise the traditional hotel experience by challenging the norms to attract the new generation of traveller who is looking for simplicity, affordability, and connectivity in a high-end interior environment," Mark Peters, the founder of Tribe Hotel Group, said.
"We saw an opportunity to lower the cost of construction by designing and manufacturing a quality modular product from overseas and plan to pass these savings onto our guests who are travelling for business or looking to explore a new city.
“We look forward to bringing this vision to life with Mantra Group and our key business partners to revolutionise the market when we open our first hotel in West Perth.”
The first Tribe Hotel in West Perth aims to provide a smart, curated hotel experience with luxurious guest rooms supported by free WiFi, barista coffee and fresh juices with communal work and breakout spaces.
Construction company Probuild has been engaged to complete the project build, expected to be more efficient than the average build time for a similar sized hotel due to the modular application.
Construction is set to commence in November 2015 and the project is estimated to have an end-value of $30 million with completion expected in December 2016.
“The Perth market is in a solid position with strong occupancies. We expect this to be sustained by a growing leisure travel sector along with corporate travel and inbound tourism maintaining strong demand for the city and are confident this project will be a great success,” said Mantra Group CEO Bob East.
Mantra Group will play a major role in the success of the West Perth hotel alongside Tribe Hotel Group’s joint venture partners including prominent property developer, Salta Properties and the Victor Smorgon Group.
Tribe Hotel Group has acquired two additional sites in prominent locations with plans to start construction in 2016 on projects in Melbourne and Hobart.
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Tribe partners Mantra for modular-design hotel in Perth

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Two combined residential houses in Melbourne's Balwyn suburb have been auctioned off for $4.05 million.
The 1,853 square metre site at <a href="https://www.realcommercial.com.au/property-land+development-vic-balwyn-501712393" target="_blank">327-329 Union Road</a>, which was offered to the market with a planning permit for seven luxury townhouses, was snapped up by a Chinese buyer.
The selling agents were CBRE’s Mark Wizel, Julian White and Scott Orchard.
The sale price translates to a rate of more than $575,000 for each permitted townhouse.
There were more than 100 enquiries, with six offshore bidders, said Julian White.
“CBRE is witnessing a spike in demand from mainland Chinese buyers across a broad range of asset classes. Many industry authorities expected the uncertainty in the Chinese economy to have a negative impact on the Australian property market, however, what we are witnessing is quite the opposite,” added Wizel.
The properties are surrounded by residential homes and close to retail centres like Belmore Road retail and Coles. Also nearby is the Balwyn High School, one of Melbourne's top public schools.
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Townhouse development site in Melbourne's Balwyn fetches $4.05 million at auction

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Sydney's City Tattersalls Club members have voted by a massive majority in favour of the proposed airspace development above the club’s premises at 194-204 Pitt Street, clearing the way for the club to sign a development management agreement (DMA) with partners ICD and Sinclair Brook.
A huge 93.6% voted in favour of the development that will see $96 million flow through to the club. 
“The majority in favour of the project was phenomenal and, as far as we know, a record in the club’s 120-year history,"  said Patrick Campion, chairman of City Tattersalls Club. 
 "This year we have submitted a far better stage 1 development application (DA) and we have received feedback from City of Sydney Council to which we have responded," said Tony Guilfoyle, CEO of the club.
"Council will now go through its process in analysing the club’s application. Assuming approval from Council, the club will embark upon an expression of interest (EOI) campaign for the right to part own and/or operate the 100 room hotel and the Design Excellence competition will also be officially launched.” 
The terms of the DMA include five floors of club and hotel facilities from ground, two basement floors of club cellars, storerooms and other utility rooms. There will be a hotel with nearly 100 rooms from levels 5 to 10 with a sky terrace restaurant and bar on level 7. The ground floor would be earmarked for retail.
The $96 million to the club will be allocated as follows: $71 million towards the design and development work on the new club and hotel, $20 million for fit-outs works and $5 million in cash.
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City Tattersalls Club members give tower project the green light

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GUEST OBSERVER
The announcement by the NSW Government of the preferred route of the light rail from Parramatta to Strathfield should lead to significant new development along the route. 
The selection of the light rail route through the urban renewal areas of Camelia and then the Olympic site at Homebush is clearly seen as a driver of new development.
This is a great opportunity to champion a new form of mixed use urban density where jobs, recreation, retail and living all work together.
The connection to Westmead is important as this is clearly a major centre of jobs and of potential urban renewal. The transport link can also connect the proposed development at North Parramatta back into the centre of Parramatta.
The connection with Sydney Olympic Park should give this precinct the direct transport connection it desperately needs and hopefully stimulate new jobs as well as residential accommodation.
The branch to Carlingford along the existing heavy rail line is another opportunity to encourage urban renewal with mixed use development.
The Urban Taskforce is concerned about the proposed Special Infrastructure Contribution (SIC) of $200 per square metre of GFA of new residential developments. While providing funds for the Light Rail itself the contribution will also increase the cost of housing. A 100 square metre apartment will clearly have an extra $20,000 added to its cost. The danger of adding a high contribution amount is that development may not be economically viable and so funds will not flow to the infrastructure. Further discussions with industry are needed to ensure that the SIC is workable.
The Urban Taskforce has argued strongly for a clear link between infrastructure and density and the announcement about the light rail route opens the opportunity to deliver significant new density. One advantage of the SIC is that it is an encouragement to planning bodies to support significant amounts of development so that funds are raised. Without significant density uplift there will be little funds raised.
While the SIC does not apply to development related to jobs there needs to be strong planning incentives to support more jobs in Western Sydney and particularly related to transport infrastructure.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Parramatta- Strathfield light rail must drive significant new development: Urban Taskforce

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Chatswood Place, a $300 million new boutique mixed use development by Platino Properties, was launched on Frday.
At the launch, 106 out of 111 apartments sold for a total of $160 million.
Located at 260 Victoria Avenue, the development will comprise 223 apartments over five buildings, released in two stages.
Units range from studios to four-bedroom penthouses.
Construction is expected to begin in February 2016 with completion proposed by late 2018.
Only six buyers were from overseas.
Almost 65% were buying to live in the new apartments. 
Most were existing Chatswood residents wanting to upgrade. 
A record sale was also made with two apartments purchased by the same buyer for $8.1 million - something never before seen in Chatswood.
“The strong demand for Chatswood Place is indicative of home owners’ increasing preference to live in apartments that are a stone’s throw from the shops, cafes and restaurants they frequent," said Platino developer Jonathan Leib. 
The development comes with shops, dining precinct and community facilities such as childcare services.
Communal spaces include an outdoor pool, gymnasium, BBQ area and sheltered pavilion for entertaining al fresco. Residents-only gardens flow through and above the buildings.
Three colour schemes (Latte, Espresso and Affogatto) were offered by Platino Properties, who has been designing and developing residential apartments on Sydney’s North Shore for over 35 years. 
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Chatswood Place launches; 106 units sold for $160 million

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A 915 square metre site in Melbourne's Collingwood and marketed as a development opportunity has sold for $3.95 million.
The sale was brokered by CBRE’s Jamus Campbell.
According to the agent, the sale of the 73-77 Sackville Street site wasn't without challenges, with the dated office and warehouse accommodation providing no holding income and the Commercial 2 zoning limiting residential development potential.
The price translated to a rate of $4,316 per square metres.
“The high developer demand for Collingwood sites with Commercial 2 zoning has been underpinned by the Victorian state government’s Plan Melbourne 2050 initiative, which earmarked Collingwood for significant urban renewal,” Campbell said.
Plans are also afoot to develop the surrounding areas into a mixed-use precinct comprising cafes, retail, office and residential accommodations.
“To facilitate this vision and enable residential development, the City of Yarra are considering rezoning Commercial 2 properties to Commercial 1, which has resulted in a flurry of savvy landowners in Collingwood making the most of record prices being paid,” Campbell added.
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Proposed Collingwood rezoning site sells for $3.95 million 

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The former Fairfield fire station, located at 3 William St, will go under the hammer on December 12 expecting to draw strong attention from developers.
The 955 square metre site is zoned for mixed use, providing a great opportunity for mixed-use retail, commercial, education and/or residential developments in the future.
“We had strong interest in the Cabramatta fire station that sold earlier this year, and we’re expecting a similar response in Fairfield,” said selling agent Harry Bui of Colliers International.
Fire &amp; Rescue NSW recently relocated to their new premises at 198 Fairfield Road, Yennora, making the William Street asset redundant for them.
 Bui also sold the Cabramatta fire station in May this year. The property fetched $2.1 million and was bought by Asian investor, the Lu Group.  
 “Fairfield is well-located in Sydney’s west, and the site at 3 William Street is in a central position and provides the buyer with a host of opportunities,” added Bui.
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