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

Retail

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One of Australia's most exclusive bridal wear designers, Mariana Hardwick, has put the ground floor salon and first floor of her landmark Hardwick Building in Melbourne's Brunswick up for auction next month. 
Up for grabs is a ground floor bridal salon of about 375 square metres, a first floor atelier plus additional office spaces of around 875 square metre and air rights for a total of about 1,250 square metres.
The sale also includes Lot N, which is about 950 square metres and is located above the first floor of the main buildings. The inclusion of that lot, said selling agents Fitzroys, provided the purchaser with the opportunity to undertake further development in the future (STCA). 
The property is offered subject to a long lease over 1,065 square metres of the ground floor and first floor to Mariana Hardwick, potentially until 2032. The lease structure is 5+7+7 years from 1 August 2013.
Around 135 square metres of the first floor is leased to typographic studio Letterbox on a five year deal starting on 15 October 2013.
The current combine returned rental is estimated at $250,000.
The property will go under the hammer on 16 May through Fitzroys agent James Gregson.  
The history of the two-level building stretches back until 1907 when it began as the Hoopers Drapers store. After a succession of owners including Waltons and Spotlight, Mariana Hardwick acquired the Hoopers Building in 2005 as a new location for her salon. 
Gregson described property as a "high yielding investment" which was expected to return about 8-9% to the purchaser.
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Brunswick ground floor salon of designer Mariana Hardwick on the auction block

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AMP Capital has been given the green light to construct in Booragoon what will be Western Australia's largest shopping centre.
AMP confirmed today that it had received planning approval from the Western Australian Planning Commission’s for its proposed $750 million redevelopment for Garden City Booragoon, a structure that will allow the centre to grow to 120,000 square metres in size.
AMP Capital head of shopping centres, Bryan Hynes, said the vote to approve the plan was another step forward for AMP Capital’s proposition to redevelop an integrated Garden City Booragoon.
“Our proposed development will further enrich the retail offer of Perth’s iconic shopping centre to include enhanced retail, leisure and lifestyle precincts as well as residential development to create an iconic activity centre for Perth,” he said.
Garden City is managed by AMP Capital and owned by AMP Capital managed funds.
The proposed redevelopment is valued at up to $750 million and will include a new full line David Jones, a new full line supermarket and fresh food precinct, allowance for an additional discount department store and an outdoor dining precinct linked to the cinema.
The redevelopment is expected to create 5,000 construction associated jobs and 5,000 new retail jobs.
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Green light for AMP Capital's Booragoon, WA shopping centre $750 million redevelopment

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GUEST OBSERVATION
It didn’t really hit me how many consumers take advantage of your non-traditional shopping institutions on a Sunday, until I just walked past a bank that’s open for trading.
I have been saying for a while now that Sundays has become the norm for some real estate offices to remain open. I have on many occasions held open home inspections on a Sunday both to: cater for the possible buyers that work on a Saturday and also due to the level of interest in the property.
At all times trying to achieve the most for the vendor, by allowing and accommodating for the “dream buyer” to come through.
Sundays is my new Monday I banter around the office and share with industry colleagues, as more and more of them seem to also have open house inspections on Sundays. This I believe to be truer with the independent offices rather than the franchise groups.
I do, however, recall working Sundays many years ago, with a RE/MAX office where I was employed. Different market conditions, in fact it was very flat.
The reason was not dissimilar to this hot property market, it was simply trying to accommodate for the ideal buyer. The buyer that would pay more but needed more time to inspect.
My surprise today, was nonetheless to see a bank open on a Sunday, and full for that matter; I counted at least five tellers serving and all busy.
Is this the changing landscape for commercial institutions that are predominantly centred in and around property?
What next, will we see conveyancing offices and law firms also opening up on a Sunday? 
On the one hand it does make sense if you want to maintain market share. On the other hand, make hay whilst the sun shines and get in early, especially with the record sales presently being reported.  
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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For real estate agents, Sunday is the new Monday

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A Hurstville Hungry Jacks premises sold for $6.65 million at auction last week.
It reflected a yield of around 2% for the Forest Road premises. 
The vendor’s reserve was $3.15 million according to William Gunning from Gunning Commercial.
Strong buyer interest from local buyers and mainland Chinese investors meant the Hurstville retail market was strong with yields sometimes under 5%.
Late last year the Huaxing Supermarket premises at 198 Forest Road fetched $2.23 million when sold to L &amp; J Zhang Pty Ltd. The premises are 209 square metres.
The last big sale was $11.65 million last June when 124 Forest Road was sold to Shanghai Lihua Hurstville Pty Ltd by Smart Giant (Aust) Pty Ltd.
In 2012 the refurbished two-storey retail strip property leased to NAB sold for $9.013 million equating to a yield of 5.85%.
The bank branch sits on a 418-square-metre site at 252 Forest Road.
On the office front, earlier this year Centuria sold a 4,800 square metre commercial office building at 8 Woodville Street, Hurstville for $17.35 million ($3,615/m²), reflecting a yield of 8.3%.
It last sold for $13.38 million in 2008 when bought from Immer (169) Pty Ltd. 
The office market is being watched closely as the NSW Office of State Revenue is moving from Hurstville to Parramatta premises.
The decision was part of the push which will see more than 3,000 public servants head west under the proposal of then Premier and Minister for Western Sydney Barry O’Farrell “decade of decentralisation” policy.
The Office of Environment and Heritage is also moving Hurstville to Parramatta.
The Australian Taxation Office’s announced last year that it would close its Hurstville office in early 2015, with the relocation or loss of about 500 jobs.
Gunning have listed an investment opportunity in a central location in the shopping strip and commercial precinct .
The 227-229 Forest Road building comprises four levels – with the upper three commercial space. 
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The property has multiple tenancies, and a rental income of $1,011,812 gross. The building size is 1,776 square metres.
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Retail investors hungry for Hurstville despite office market unrest

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The Queensland government has raised the possibility of ‘calling in’ the application of a $30 million Masters Home Improvement store in Bundaberg. If the call in goes ahead, appeals against the development will effectively be ceased.
Deputy Premier and State Development, Infrastructure and Planning minister Jeff Seeney has issued a ministerial call in notice for the retail development, which has undergone a series of setbacks and is the subject of community concern.
As per the 2009 Sustainable Development Act, if the development is called in Seeney will become the assessment manager for the development application, allowing him to assess the merits of the application against state interests. 
According to Seeney, the Masters store development is of interest due to its significant investment potential for the region. 
 “Bundaberg Regional Council has informed me this proposed development could benefit the eastern growth corridor of Bundaberg,” said Seeney. The government’s proposed call in notice for the development notes that the council believes that the project represents a $13 million investment in Bundaberg’s eastern growth corridor.
“The development proposal for 128 FE Walker Street, Kepnock, has the potential to create 186 jobs during construction and 130-150 ongoing operational jobs,” Seeney said.
He noted that proposed retailer could have flow on effects for investment in the area. 
“The development could also spur on other business investment in the Kalkie/Ashfield growth corridor, areas identified in council’s draft planning scheme and the Wide Bay Burnett Regional Plan 2009,” said Seeney.
A 2011 Economic Impact Assessment report by advisory firm Duane Location states that upon completion the Masters Home Improvements store will achieve total sales of about $34 million (approximately $2,500 per square metre) this year. 
The development received council approval on January 24 earlier this year despite a number of submissions from local residents and businesses opposing the development which will take place on formerly residential land. However, three appeals have since been lodged against the approval. One was lodged by the Kepnock Residents Action Group, another by Mirvac and the third by AMP Capital. 
Mirvac, which owns the local Hinkler Central shopping centre, cited the site’s Residential A zoning as grounds for its objection to the development, as well as the potential detrimental impact the Masters store would have on existing retailers. AMP Capital raised inconsistencies in the council’s planning and development practices.
If Seeney does call in the development, his subsequent decisions cannot be appealed in the Planning and Environment Court. 
Affected parties will have until 12 May to make a submission regarding the development and ministerial call in. Seeney must decide on whether or not to call in the application by June 6.
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Queensland government considers call in for Bundaberg Masters store

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A Port Melbourne retail property has fetched just under $1.2 million at auction. The property sold on a 5% yield and reflected a building rate per square metre of about $18,000 per square metres.
It is leased to hairdresser Strands by the Bay on a new 3+3+3+3 year lease, returning $60,000 per annum plus outgoings and GST.
Selling agent Andrew Hewett noted that there was strong demand from local and national buyers along Bay Street, Port Melbourne.
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Port Melbourne retail property sells for $1.2 million under the hammer

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Australian retailers will now be able to compare their store’s sales to their competitors on a weekly basis, thanks to a new retail sales index launched today.
The first edition of the <a href="https://www.australianretailindex.com.au/" target="_blank">Australian Retail Index</a> shows that the Easter break led to a 8.4% boost in retail sales. 
The index has been created by corporate advisory firm BDO and software and point-of-sale provider Retail Express to provide local retailers with weekly sales data in four categories: fashion and accessories, furniture and homewares, sporting and recreational goods and other general retailers.
<a href="https://www.afr.com/p/business/companies/retail_sales_up_per_cent_over_easter_E2G1tF2C3PkK8YUDtLnNbN" target="_blank">Fairfax reports</a> the sales data for the index is collected from more than 2000 retailers. The free subscription-based service will initially compare weekly sales figures with sales from the previous week and one year ago.
The service will expand later this year to offer daily sales data.
Retailers will also be able to compare sales across states and in metropolitan and regional areas, as well as gain insights into how average transaction values and the ratio between credit card and cash transactions are changing.
Unlike retail sales data compiled by the major banks, which relies on credit card data only, the Australian Retail Index will also include cash transactions and lay-buys.
BDO national retail lead partner Simon Scalzo toldFairfax the index will enable business owners to make more timely decisions about their business.
Scalzo said that many businesses rely on sales data from the Australian Bureau of Statistics that is often almost two months old. “It’s almost like looking in the rear-view mirror,” he said.
The executive director of the Australian Retailers Association, Russell Zimmerman, told SmartCompany that up-to-date sales data is “vitally important” for businesses of all sizes.
“This index is vital for any business because as a retailer, you would like to know how you are travelling compared to your counterparts,” said Zimmerman.
Zimmerman said in the case where a retailer’s sales are down, comparing their results with companies in a similar situation using the Australian Retail index will likely make that business owner feel more comfortable.
On the other hand, Zimmerman said if a business has seen a particularly strong response to a new sales promotion, and they know that their competitors are not experiencing the same level of sales, they will know they are on the right track.
Zimmerman said the size of the index means it will cover all of the major retail sectors and therefore give a good indication of how the retail market is tracking.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
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Easter boosts retail sales by 8.4% according to new sales index

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After 20 years of ownership, The Block Arcade in Melbourne has been sold for an undisclosed amount.
The sale, negotiated by Colliers International and Allard Shelton, is expected to have achieved around $100 million, with an expressions of interest campaign operating until 3 April.
Both local and offshore investor interest was strong for the property, which had been held by the Kearney family. It’s being sold to Melbourne family the Cohens, who are said to have a long backstory with the Block Arcade and the surrounding retail precinct. The family owns adjoining property.
<img src="/images/2014/04/22/melbourne-april-22-three.jpg" alt="">
The sellers, including property investor and barrister, John Kearny, and wife Alison, are both members of the National Trust and restored the Block Arcade after their 1993 purchase.
The arcade itself was built in 1892, and includes retail and upper level commercial spaces.
Retail tenants include Telstra, Hopetoun Tea Rooms, Haighs Chocolates, Crabtree &amp; Evelyn and Wittner.
The sale achieved 200 enquiries and 10 formal expressions of interest that spanned to Shangain and Moscow, according to Colliers International managing director of capital marks and investment services, John Marasco.
“The Block Arcade is a blue chip Melbourne CBD investment.  It also offers a number of exciting value-add opportunities including repositioning the asset to attract luxury retail brands to the precinct,” said Marasco.
Luxury brand retail tenants may be the next target of the Cohens.
<img src="/images/2014/04/22/melbourne-april-22-two.jpg" alt="">
Property manager of the arcade for the Keameys, Allard Shelton’s director Patrick Barnes, said that Collins Street is clearly where luxury retail brands want to position themselves.
“The Block Arcade is well positioned to capitalise on demand from luxury retailers trying to secure tenancies along Collins Street,” he said.
During 2013, the building attracted more than 3.5 million visitors.
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The Block Arcade, a Melbourne landmark, sold after more than 200 enquiries

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The Emporium Melbourne - billed as Melbourne's new shopping mecca - has officially opened its doors.
Formerly the home of the Myer Lonsdale Street store, the fully leased Emporium Melbourne will offer more than 220 international and local retailers over seven levels of what the owner CFS Retail Property Trust Group is describing as "world class retailing".
CFS Retail Property Trust Group chief executive Angus McNaughton, said: “We have delivered today a spectacular new retail destination for the Melbourne CBD which brings together a high quality mix of fashion and food, supported by some of the best retail brands in the world.”
Among some of the first-to-Australia brands include iconic Japanese brand Uniqlo in a four-level flagship store, youth brand Zoo York, The Waiting Room by Dr Denim, Calvin Klein Watches and Jewellery, and UCLA Store.
When complete the centre will also house more than 20 Melbourne flagships stores including a three-level Topshop, a two-level Super Glue, Nespresso, Muji, Oroton and Guess.
The centre will also feature a 1,100 seat cafe court and more than 20 popular Melbourne food names. Among them will be celebrity chef George Calombaris's new concept souvlaki bar, South Melbourne Dim Sims, Charlie and Co, Becasse Bakery and I Love Pho. 
This comes after it was delayed, originally <a href="/expert-insights/investing/emporium-melbournes-opening-delayed-until-2014">planned for a December 2013 opening</a>. It was originally <a href="/expert-insights/investing/emporium-melbourne-likely-to-open-with-85-occupancy-rate-in-2013-goldman-sachs">suggested to open with 85% occupancy</a>.
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The Emporium Melbourne officially opens its doors

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One of Melbourne's most prominent high streets, Church Street in Brighton, has attracted two national retailers to the area - Trenery and Bonds Kids. 
Trenery, a subsidiary of Country Road Limited, has secured more than 700 square metres at 46a Church Street (pictured above), while Bonds Kids, a subsidiary of Pacific Brands, is opening a store at 40B Church Street.
It is understood the Trenery tenancy is the first Victorian suburban stand-alone store as part of a select roll out of stores under the guidance of the Country Road group.
The premises were previously occupied by Browns Bakery and returned about $86,000 per annum, however Trenery have committed to a rental close to $135,000 per annum. “The space has now been transformed into an ultra-modern tenancy and is regarding as one the most impressive in the street,” said Fitzroys senior associate and leasing agent, Mark Talbot.
The <a href="https://www.propertyobserver.com.au/x-apple-data-detectors://4">40B Church St</a> lease to Bonds Kids is smaller in size but attracted a rental close to $100,000.
“Previously occupied by Stride-Rite, Bonds Kids have also completed a high-end fit out of their new premises, which is sure to rival other children’s wear operators within the street,” Mr. Talbot said.
The Bonds Kids group was currently undertaking a rapid expansion into a select number of shopping strips with, Fitzroys also brokering the lease to Bonds Kids at the Malvern Road, Hawksburn.
The rent payable for Malvern Road store tenancy is believed to be about $90,000 per annum.
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