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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The Victoria Racing Club has appointed Multiplex to build a new stand at Flemington Racecourse to the value of $128 million.
The five level Club Stand, designed by Bates Smart Architects is the 10th grandstand to be build at Flemington since 1865. Construction is slated to begin after the 2016 Melbourne Cup Carnival.
The new Club Stand will feature 360 degree views of the Mounting Yard, race track, Members Lawn, Parade Ring, Betting Ring and Winning Post. 
A first floor walkway will connect the Club Stand t to the existing Members Stand and Parade Ring. A new north-south corridor will form the heart of the new Club Stand and will also link the Betting Ring with the Members Lawn and Mounting Yard. 
The Members Lawn will also be enlarged as part of the project and seamlessly linked to function spaces on Level One by a grand sloping tier of seating encompassing viewing platforms and gardens.
A rooftop garden will be built on level five.
Graham Cottam, regional managing director at Multiplex said the new Club Stand is world-class and will deliver a completely new experience for racing patrons.
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jonathanchancellor-7SQnKwU6yx

$128 million Club Stand to be built at Flemington Racecourse

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Fitzroys has achieved a second landmark sale in Melbourne’s west in recent weeks, with a prime Williamstown retail site fetching $7 million under the hammer.
The 738sqm corner property at 20-26 Ferguson Street, comprising seven titles offered as a whole, sold under the hammer on a 3.85 percent net yield.
A local Williamstown resident was the successful bidder of four parties that competed for the site in front of around 70 people.
Fitzroys agents James Gregson and Michael Ryan handled the campaign on behalf of a private investor, who acquired the site in 1983 for $190,000.
It follows Fitzroys’ recent sale of the nearby retail site at 5, 7 &amp; 9 Ferguson Street under the hammer for $4.225 million, which Gregson and Ryan also handled.
The three adjoining shops were offered in one line and sold $300,000 above reserve, with the sale price reflecting a tight 3.4 percent yield.
The 20-26 Ferguson Street offering included five shops and two dwellings/offices across a total building area of 761sqm, with a 28-metre frontage to Ferguson Street, three street frontages and rear parking.
The property was offered with leases to long-standing tenants, including Yambuki Japanese Restaurant, Ella Bache, Cocoa Latte and H&amp;R Block, with a combined return of around $290,000 per annum.
Ryan said the property had a long-term development upside.
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j.ballantyne1990-6AQqhLzZaK

Prime Williamstown retail site sold for $7 million

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A Chinese consortium have proposed a water theme park, international hotel, boutique residences, indoor go-karting track, spa resort, hot springs centre, and prestige golf academy at the Moonah Links golf course on Melbourne's Mornington Peninsula.
The estimated cost could be as high as $600 million.
The owners — a consortium of Chinese and Chinese-Australian business people — have presented their plans to the Minister for Tourism and Major events, John Eren.
<a href="https://v.youku.com/v_show/id_XMTUzNjcxMjAxMg==.htm" target="_blank">A six minute Chinese video clip</a> describing the plans for the site is now online including a stingray-shaped hot springs centre as part of the plan.
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The marketing video from Peninsula International Group describes Melbourne and the peninsula as dream destinations.
The championship golf venue Moonah Links, which boasts two courses and Peppers hotel, was sold last year to the consortium for about $18 million.
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jchancellor-FAypfDUnLy

Mornington's Moondah Links set for theme park transformation 

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<img src="https://counter.theconversation.edu.au/content/63992/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The creative industries – ranging from game development to architecture, media, design and the arts – are a hot issue in urban development.
Creative businesses, almost by definition, are innovative. They drive new ideas, people and technologies into the market from the experimental edge. It follows, then, that strategies to make a state, city or town more creative can fuel cultural development, urban regeneration and economic growth.
The logic flows: attracting creative talent is increasingly tied to competing in global markets. Places with a creative industries base attract businesses and skilled workers from other knowledge-intensive industries like health, science, engineering and technology. This realisation has prompted regional governments across the globe, including some in Western Australia, to implement policies to make themselves more creative.
Australia’s creative industries contribute A$90 billion to the economyevery year. While making a city “more creative” has obvious economic rewards, gaps can emerge between policy and reality.
Creative businesses often struggle in the face of rising rents and development pressures. They may have difficulty in accessing property, finance and business advice.
The sector is also characterised by freelance, part-time and portfolio work. This means financial insecurity, uncertain employment and demanding working conditions are real challenges for a large proportion of its workers.
What do creative industries need to thrive?
Many cities, including some Australian state capitals, have to unpick the mechanics of city regeneration, which complicate creative industry development, through investment.
This public investment is often most visible in designated innovation or cultural precincts. The large public institutions and signature buildings typically found in these areas make plain governments’ involvement.
However, iconic architecture and major events alone aren’t enough to build robust creative economies. The creative economy in Australia is underpinned by the 98% of creative businesses with fewer than 20 employees. This sector plays an outsized role in innovation, experimentation and new ideas.
When municipal or state governments join forces with these smaller creative communities to shape urban regeneration the results can be far-reaching, although government’s role is often less visible.
The creative sector feeds on affordable commercial space, physical and digital connectivity and a critical mass of like-minded but diverse neighbours.
Small-to-medium creative enterprises are often deeply embedded in their local contexts. They are also highly networked, using formal and informal platforms to match ideas with potential collaborators, as well as private, government and third-sector investors.
Creating clusters from scratch is notoriously difficult. Building on latent and emerging clusters by leveraging existing property assets and local knowledge is far simpler. It also usually works a lot better.
This approach sounds intuitive, but often doesn’t happen. The reason is a heavy stakeholder focus on building something new, as well as control over land and property use.
Lessons from Amsterdam and Toronto
Amsterdam’s municipal council has introduced economic, cultural and spatial development policies that involve partnering small-to-medium creative entrepreneurs to rehabilitate brownfield sites. Creative-led partnerships have developed clusters at De Ceuvel, NDSM Wharf and Tolhuistuin.
The municipality has ceded some of its usual powers to the sector, with responsibility for delivery and success shared.
At Tolhuistuin, the council provides the land, old building stock and a maintenance budget for a fixed period while the creatives develop the precinct themselves (under the watch of a board). The outcome is a new asset-based blueprint for sustainable mixed-use urban development.
Tolhuistuin’s early seeded clusters set the stage for larger projects. These include the Eye Film Institute, the A’DAM Toren and the redevelopment of the Van Der Pek and Overhoeks precincts.
This all builds on the municipality’s longstanding broedplaatsen (breeding ground) program. This promotes creative clustering in underutilised buildings across the city by releasing 10,000m² of studio space per year.
The creative industries are empowered to take the lead in developing these projects. Amsterdam council unlocks funding sources and offers expert advice on bureaucratic and legal processes.
In Canada, Section 37 of the Ontario Planning Act has helped transform private, government and creative sector partnerships. It allows development regulations to be relaxed in exchange for community benefit, which includes creating living spaces for creatives.
In the early 2000s, social enterprise Artscape, supported by the City of Toronto, leveraged Section 37 to develop Artscape Triangle Lofts, home to 68 creative live/work units and Propeller Gallery. An innovative affordable ownership and rental program ensures a mix of uses and incomes in the building.
Toronto’s far-sighted policy decision helped the city retain and grow its creative community in the face of rising property prices. Today the sector contributes C$9 billion a year to Toronto’s GDP and employs 130,000 people.
Get in early, start small
The takeaway from this is that constructing a creative economy means implementing long-term transitional strategies to build talent and capacity over time. This avoids the need for more interventionist, expensive and risky strategies down the line.
WA towns and cities have an enviable opportunity to set up the conditions for a healthy creative economy before regeneration of their older building stock comes to pass. Nurturing this sector through a mix of smaller policy interventions could be an affordable and effective way to kick-start sustainable creative economies.
More modest interventions allow the luxury of learning from failure and trialling more experimental ideas. These can then flow through to the wider creative ecology.
All ecologies rely on an ongoing interplay between the large, medium and small. Each brings something different to the table to create a whole greater than the sum of its parts.
This requires a policy mix that can support big-ticket projects along with investment in sustainable careers and spaces for small-to-medium creative enterprises. This is true creativity at work.
Bree Trevena is PhD researcher, Research Unit in Public Cultures, University of Melbourne and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/bree-trevena-292259" target="_blank">here</a>.
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Create to regenerate: cities tap into talent for urban renewal

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Property developer Sunland Group will withdraw its development application for its proposed mixed-use residential and arts precinct at Mariner’s Cove on Queensland's Gold Coast.
The City of Gold Coast is to defer the current application for no longer than 12 months.
Sunland Group’s $600 million proposal included the city’s first privately-owned cultural precinct dedicated to the arts through a modern art gallery and museum as well as floating parklands, an underground aquarium and two sculptural 44-storey towers providing hotel and residential apartments.
Sunland Chairman Soheil Abedian said he believed a master plan for The Spit was in the best interests of the community and would deliver much-needed clarity, unity and direction for all stakeholders.
“We strongly believe The Mariner presented an exceptional and compelling outcome for the site,” he said.
“The Spit is a unique commercial, residential and recreational precinct and the State Government and Council need to work together, in consultation with the community and all stakeholders, to agree on a clear path forward.
“We feel it is important the master planning process is unencumbered, without any perceived time pressures from existing development applications. For this reason we are withdrawing our development application for The Mariner until such time that a master plan for the precinct can be agreed upon.”
“Q1 was met with similar challenges, yet today it remains an icon of our city and stands proudly at the centre of the emblem of the 2018 Commonwealth Games.
“The Mariner continues our commitment to the city and its evolution into a global destination with the opportunity for world-class entertainment, cultural and tourism amenity.
“To realise this opportunity, there must be a master plan that benefits the city and its more than 600,000 residents. A master plan that balances the natural elements of the Spit with community open space and iconic architecture that celebrates our distinctly Gold Coast lifestyle and contributes towards the enrichment of the urban fabric of our community.
“It is our ardent hope that the State Government and Council, upon completion of the master plan, allow projects such as The Mariner to have a place for the future of our city.”
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Sunland withdraws development application for Mariner's Cove, Gold Coast

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<img src="https://counter.theconversation.edu.au/content/64595/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia will join the 71st United Nations General Assembly in New York this week.
Some of the discussion will focus on progressing the 17 Sustainable Development Goals (SDGs), as agreed at the UN last year.
Australia is a signatory to the goals, but it is difficult to know where to begin, as the goals are further broken down into 169 targets. These range from eradicating extreme poverty to developing measurements of progress on sustainable development.
But new research from the University of Queensland reveals that actions on climate change (SDG 13) and global partnerships (SDG 17) are likely to influence all other efforts by Australia to achieve the other SDGs.
<h2>Australia’s role in sustainable development</h2>
The SDGs form part of the UN development agenda, Transforming Our World: The 2030 Agenda for Sustainable Development, released in September 2015.
Unlike the preceding UN Millennium Development Goals, which ran until 2015, the SDGs apply to all countries and citizens to create a common outlook, irrespective of the country’s level of development. The new goals are to be achieved by 2030.
The Australian government has emphasised the role of the SDGs in reinforcing economic growth, development and investment in the Indo-Pacific region, and has assigned the SDGs to the portfolios of Foreign Affairs and Trade (DFAT), and Environment.
Australia’s support for the SDGs is laudable. But the focus on international trade and investment, with responsibilities placed in only two portfolios, limits Australia’s potential for significant social, economic and environmental improvement on the SDGs at home and abroad.
<h2>But where do we start?</h2>
Part of the challenge of the SDGs is their complexity and the way they link together. This may explain Australia’s limited approach to date.
To help navigate this web of goals, we mapped the most influential goals. We found the goals that affect all the others are climate action (SDG 13) and global partnerships (SDG 17). Without these, the other goals are very difficult to attain. 
For example, the increased intensity of extreme weather events due to climate change will likely make it harder to achieve clean drinking water under SDG 6. In droughts, less water is available, and in floods, the water is often contaminated. Both events result in the proliferation of diseases.
These findings also identified that the goal for health and wellbeing (SDG 3) is the ultimate goal: every other SDG contributes towards this outcome. For example, a woman who has given birth to a daughter cannot achieve optimal physical, social and mental wellbeing for herself and her child without proper nutrition (SDG 2), access to clean water and sanitation (SDG 6), gender equality (SDG 5) and adequate financial resources (SDG 1).
We also found that within SDG 6, implementing the integrated water resources management target (6.5) enables the other SDG 6 targets to be met. Australia’s Murray-Darling Basin is a good example of this type of approach. There, states negotiated across borders to reduce salinity, minimise extractions and improve water quality.
<h2>Can we do it?</h2>
Linking together these goals will require high-level government co-ordination beyond merely the DFAT and environment portfolios.
Our policy analysis found that no single portfolio can take responsibility for the entire set of 17 SDGs – and that all 21 government departmentshave more than one SDG relevant to their responsibilities.
Australia’s ability to progress the SDGs in Australia and overseas is likely to be more attainable with the involvement and cross-collaboration of other portfolios.
The UN SDGs are an opportunity for Australia’s efforts towards sustainable development to be recognised on a global stage. To achieve progress on this complex agenda we have to understand that climate action and global partnerships are crucial to sustainable development and ultimately to health and wellbeing.
Nina Lansbury Hall is sustainable Water Program Manager, Global Change Institute, The University of Queensland and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/nina-lansbury-hall-211334" target="_blank">here</a>.
Dani J. Barrington is lecturer, Global Change Institute, Honorary Fellow, School of Public Health, The University of Queensland and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/dani-j-barrington-104657" target="_blank">here.</a>
Russell Richards is ecosystem modeller at the University of Queensland and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/russell-richards-296266" target="_blank">here</a>.
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Climate action is the key to Australia achieving the Sustainable Development Goals

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Sydney-based developer, JQZ, has purchased a 1.715 hectare site in Macquarie Park to build a mixed-use apartment development with 4 residential towers and approximately 2000sqm of prime retail.
It was acquired from Goodman for an undisclosed amount, expected to be around $200 million.
Construction is expected to start on the site, 101 Waterloo Road Macquarie Park, mid 2017.
Jian Qiu Zhang, Founder and chief executive officer of JQZ, said this site ticked all of the boxes in terms of convenience as it’s literally right next door to one of Australia’s premier shopping centres and only a 17-minute walk to Macquarie University. 
For more information, visit <a href="https://www.jqz.com.au" target="_blank">www.jqz.com.au</a> or call 02 9378 1000.
 
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JQZ acquires site in Macquarie Park for around $200M

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Following the success of its 36-storey Sky One tower in Melbourne’s Box Hill, the Golden Age Development Group now has plans to work on another nearby project.
The 7,344 sqm site at 517-521 Station Street, Box Hill (pic above) will have a mix of commercial and retail spaces, residential accommodation and a 104-place child care facility, according to the developer’s website.
The carpark was recently bought by Golden Age for $51.8 million from Whitehorse Council.
The new project, named Sky Two, is expected to be well received like its sister project Sky One.
“Buyers of Sky One will benefit significantly from the new development as it bolsters the notion of the suburb being a city in itself, with a range of business, lifestyle and cultural amenities only minutes away,” says the developer.
Sky One, at 545 Station Street, sold some 85 percent apartments at its launch in April, which was followed by $80 million worth of apartments in May.
On completion, Sky One will be one of the tallest buildings in suburban Melbourne.
Golden Age, which was founded in 2007 by Jeff Xu, has a project pipeline worth $2 billion across Melbourne &amp; Sydney.
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After 36-storey Sky One success, Golden Age set for sister project in Melbourne's Box Hill

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia may be home to some of the world’s most liveable cities, but we have a long way to go to meet the world’s Sustainable Development Goals (SDGs).
Australia ranks 20th in the world – well behind Canada and many European countries but ahead of the United States – according to a new index that compares different nations' performance on the SDGs, which were adopted last September.
Launched at this week’s United Nations SDG talks in New York, the index marks each country’s performance towards the 17 goals. These aim to put the world on a more sustainable economic, social and environmental path, and feature 169 targets to be met over the next 15 years in areas such as health, economic growth and climate action.
The ranking, called the SDG Index and Dashboard and prepared by the UN Sustainable Development Solutions Network and the German think tank Bertelsmann Stiftung, ranks countries' performance using a set of 77 indicators.
<h2>Australia: good water, bad energy</h2>
Australia, with some of the world’s highest carbon emissions per person, rates poorly on the clean energy and climate change goals. It also falls down on the environmental goals, with high levels of solid waste and land clearing as well as loss of biodiversity.
Despite the long life expectancy and general good health of Australians, the index highlights that Australia has one of the highest rates of obesity in the world.
As shown in the performance chart below, Australia rates relatively highly on lack of poverty, education and water quality. Inequality, while increasing, is not as bad as it is in the United States or the United Kingdom.
<a href="/images/2016/07/27/image-20160721-8642-mbf3mp.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/27/image-20160721-8642-mbf3mp.png" alt="">
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Australia’s performance on each of the Sustainable Development Goals. <a class="source" href="https://issuu.com/unsdsn/docs/sdg_index_and_dashboards_country_pr">SDG Index and Dashboards report</a>
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The best-performing countries on the list are mainly the northern European countries. Sweden, Denmark and Norway are at the top of the pile. Yet even these nations have significant challenges to achieve the climate change and environmental goals.
<h4><a href="/images/2016/07/27/image-20160721-8650-1llss6.png" target="_blank">Click to enlarge</a></h4>
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The top of the rankings… SDG Index and Dashboards report
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<div class="enlarge_hint"><a href="/images/2016/07/27/image-20160721-8663-2d6hcy.png" target="_blank"> Click to enlarge</a></div>
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…and the lowest-ranked nations. SDG Index and Dashboards report
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At the bottom of the rankings are sub-Saharan African countries: the Democratic Republic of Congo, Liberia and the Central African Republic, which face extreme poverty, hunger and major health problems.
In Asia, Japan and Singapore both rate above Australia, in 18th and 19th places respectively. Thailand (61st), Malaysia (63rd) and China (76th) are in the middle of the pack.
<h2>Priorities for action</h2>
The purpose of the report is to help countries identify the gaps that must be closed in order to achieve the Sustainable Development Goals by 2030 and to identify priorities for early action.
The SDG Index notes that Australia performs much better in the UN’s Human Development Index (on which it ranks second), which focuses on social and economic development but not environmental sustainability. This clearly demonstrates that Australia needs to act urgently to address the climate and environmental goals. It is in Australia’s interest to do so as we are more vulnerable to climate change than most comparable countries.
The report also highlights some other specific challenges for Australia, including fisheries management and sustainable use of nitrogen-based fertiliser. While Australia is not the worst performer on gender equality, many countries have a higher proportion of women in national parliaments than our 26.7 percent and we have a significantly larger gender wage gap than New Zealand.
The SDG Index will be updated regularly to improve its quality and coverage and allow people around the world to measure progress against the goals. Australia’s plan for implementing the SDGs within Australia is not yet clear and this will be an important item on the agenda for the re-elected Turnbull government.
John Thwaites is chair, Monash Sustainability Institute &amp; ClimateWorks Australia, Monash University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-thwaites-16830" target="_blank">here</a>.
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Australia ranks 20th on progress towards the Sustainable Development Goals

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<img src="/images/2016/07/20/Holdencapital_banner.jpg" alt="" width="618" height="130">
SPONSORED POST
According to Wikipedia, “Sweat Equity” is defined as:is a party's contribution to a project in the form of effort and toil, as opposed to financial equity such as paying others to perform a task.
Sweat Equity is normally initiated as a cost saving exercise, where in the case of property development, the developer shoulders the task of achieving the “highest and best use” for a property. Whilst this will often involve the collective efforts of industry professionals such as architects and town planners, it is almost always in consultation and at the direction of the property developer that first identifies the opportunity, and at the end of the day will speculatively outlay the cost of engaging such professionals.
So when does sweat equity via uplift in land count?   
It should not be overlooked that in many cases successful developers are already on the path to creating sweat equity in negotiating a Vendor to a price that recognises the current “value” of a site based on its highest and best use today, versus what can be achieved in the future.
Taking strategic control of a property through an option agreement or instalment contract while you work up an appropriate town planning or design strategy can also provide potential uplift which can later be included as part of the developers sweat equity.
That sweat equity effectively represents the uplift in value that is created without changing the visual presentation of a property. It should also be noted that a change in market conditions and specifically a rising market should not be construed as sweat equity where these changes occurred over a long period of time or were unrelated to the developers strategy to redevelop the property. Buying a property at the bottom of the market and holding it through an improving market in the hope that it will improve in value is not sweat equity. 
Quantifying sweat equity in terms of property will normally be proven or measured by comparing a purchase price or value at a point in time to the current value of the property at the point in time where that sweat equity is required to be assessed for the purpose of securing a funding outcome.
In most respects HoldenCAPITAL and prospective lenders view on sweat equity is similar to that of a valuers, on the basis that it is an art not a science. It requires an analysis of things like the market, the developers experience in undertaking a project of that size and scope and the planning and research they have put into conceiving the project (i.e. not just dumb luck), as well as the time and costs incurred including the retention of appropriately credentialed professionals engaged by the property developer.
To further define sweat equity we think it is important to qualify it by suggesting that it is value created that was perhaps not obviously apparent and easily achievable by the “common man”.
To use another art analogy, “one man’s art is another man’s trash”. Whilst this is perhaps a little extreme, it is fair to say that while most Lenders will recognise the sweat equity others, for reasons known only to them, will not. It is therefore, extremely important to clearly articulate the effort and contributions that have been made by the developer in order to justify the quantification of their  “sweat equity” when the valuation uplift is being assessed.  
It should also be pointed out that hard work and the expending of cash equity will not always result in an uplift in valuation.
Some examples of sweat equity can include but are not limited to:
<ul>
<li>a change in permitted use of the property;</li>
<li>rezoning;</li>
<li>changes in planning such as increased heights, configuration allowances, product mix, etc.;</li>
<li>a change in design of the proposed redevelopment; and</li>
<li>amalgamation of adjoining sites;</li>
</ul>
This is an area where developers often fail to accurately articulate where their sweat equity has been added so that it should be recognised by lenders. Seeking advice from an experienced construction finance broker can ensure that this doesn’t happen and make a significant difference to the final equity contribution the developer is required to contribute.
This article was written by Dan Holden of HoldenCAPITAL, who are a bespoke construction finance firm, they arranged over $300 million of construction finance in 2015 across 52 projects. To discuss your project finance requirement please call (07) 3171 4200 or visit <a href="https://www.holdencapital.com.au/" target="_blank">www.holdencapital.com.au</a>
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